It’s not the lights; it’s not the liquor; and it’s not the sound. It’s the people!
The FUN is what matters! A good understanding of your core customers is key to successful nightclubs.
The spot will offer a nightclub experience that meets the expectations and changing tastes of our core clients, i.e. college-age women. If the women come then the men will also follow. To achieve this goal we must continuously improve our responses to customers’ entertainment needs.
The Spot will be geared toward college-age females who want to dance and socialize in a fun nightclub atmosphere. Of course, we are also focused on college-age men but it has been our observation that the club scene is driven by where women choose to spend their money when they go out with friends. At present, none of the local bars create an environment that is responsive to the entertainment demands of this core customer group. This extends to areas around the university, which we anticipate will attract new customers.
The current competition does not matter. We are refocusing the competition on having the club that attracts women, for good reasons. And we assume that the way things work will work in our favor when we do.
We can carry out competitive analysis for due diligence. It doesn’t affect our plan.
The mission of Spot is to provide nightclubs that meet the needs of our core customers. college-age women. The men will come if the women are there. This goal can only be achieved if we continuously improve our response to customers’s entertainment needs.
Our forecast is far too profitable at the moment. We will be performing annual reviews. In the future, we will have to revise our expense budgets upward.
Financial Highlights for the Year
Each of the principals will invest $70K. This totals $210K in owner investment.
Robert Shaw : $70,000
Jill Morse, $70,000
Sheila Thompson : $70,000
A line of credit will be needed to help us get through the initial months of our negative balances.