Feasibility Presentation (ARCADE/GAME BAR) (TEAM 9) 1. CULLEN LORENSEN 2. JORDAN ROLLER 3. ADAM FRITZEL 4. VICTORIA YIP 5. MICHAEL KRIEGER 6. CHELSEA MCCOWAN
Presentation OutlineIV. Business and Industry ProfileV. Business StrategyVI. Company Products and ServicesVII. Marketing StrategyIX. Competitor Analysis
IV. Business and Industry Profile Part A: Industry Analysis Part B: Outlook for the future Part C: Stage of growth (Start-up, growth, maturity)
IV. Part A: INDUSTRY ANALYSIS 1. Industry Background and Overview Dates back to colonial America which adopted the concept of a roadhouse tavern as a gathering place. Arcade Bars have appeared in major cities since the 1980’s The niche market of the arcade bar caters to the video game generation as well as those looking for entertainment while drinking. 1. Significant trends 2. Vintage gaming 3. Creative mixed drinks 4. Microbrew/craft beers 5. Unique bar games 6. Employ strict financial controls.
IV. Part A: INDUSTRY ANALYSIS 3. Key Success Factors of the Industry Business will be based around the demand of unique entertainment, quality drinks, and a hip atmosphere. Location will be in a visible, high traffic part of town Strict financial controls to prevent theft and avoid bankruptcy. Continually looking for improvements in the business model as well as operating systems.
IV. Part B: OUTLOOK OF THE FUTURE Sales forecast is a conservative projection. Kept conservative so that, with a worst case scenario, we are able to cover our expenses. Constant search for updating the games will keep our business connected to the latest trends in gaming.
IV. Part C: STAGE OF GROWTH Being the first arcade bar in the area, it will enter the market in the introductory stage of growth. Majority start-up efforts into advertising since it’s in an early stage. Profits are generally low during the introductory stage so our goal is to maximize our advertising and increase our customer base, which will allow us to move quickly into the growth stage where we can begin to earn higher profits.
V. Part A: DESIRED IMAGE AND POSITION IN MARKET We want an image of a bar that offers benefits for customers of all economic means. We hope to position ourselves so that we can compete with bars that offer discount, middle-of-the-road, or prestige pricing. We plan to accomplish this by offering nightly low cost drink specials for those on a tight budget as well as more quality, expensive drinks for those wishing to indulge. This will help us to provide an image to our customers as being a fun place where they can enjoy their favorite games without being concerned with the price or quality of the drinks that are offered.
VI. Part A: DESCRIPTION 1. Product or Service Features Products Services1. House beers/drinks creatively 1. In-house Cab service to pick upnamed or drop off customers, with a fee2. Shirts with catch slogans/sayings of course.3. Customer drinking glasses 2. Providing a new way to experience vintage and current games. 3. Bartenders that show flair when serving 4. Speedy serving of beverages to the masses
VI. Part A: DESCRIPTION 2. Customer benefits Cab services lowers the risk of DUI/DWI’s, and to avoid citations and fees from the law. A new experience for the night life seeking persons Souvenirs for the visitors Entertainment while ordering and after receiving drinks Timely service of drinks, no long waits to get drinks
VI. Part A: DESCRIPTION 3. Warranties and Guarantees A guarantee that each customer will be served in a timely manner and safely picked up or dropped off for the evening. A guarantee that the new consumers have never experienced anything like the entertainment they will receive.
VI. Part A: DESCRIPTION 4. USP (Unique Selling Proposition) The things that will differentiate us from the competition include1.Entertainment for all eras, from Atari to xbox Having the best entertaining bartenders in the city The unique cab service that nobody has ever implemented The major markets are college students and the older generations that enjoyed the games that will be featured. This bar will stimulate the markets for video games and retail by introducing older eras to the newer style games and the newer era to the older games, giving an understanding of how favorite games evolved.
VI. Part B: PATENT/TRADEMARK PROTECTION There will be a trademark on the name and patent on the cab service.
VII. Part A: TARGET MARKET 1. Complete Demographic Profile Ranging from College-aged group to the early-30 age leaning more to the younger generation. The bar will cater more to middle class system. Due to the bar being themed around video games and arcades, and the increase for not only males, but females, who play video games, the bar will appeal to both genders equally.
VII. Part A: TARGET MARKET 2. Other Significant Customer Characteristics Avid gamers College students/Graduates Arcade and classic game players Introverted people People with addictive personalities Those trying to escape the confines of the real world.
VII. Part B: CUSTOMER’S MOTIVATION TO BUY Arcades take money to beat, so the customer would continuously pay to keep playing. Buy drinks to fit into the atmosphere as well as to escape from the troubles of the outside world, such as school and work. Tournaments would be a possibility on certain nights, so as to promote friendly competitions and registration fees for tournaments.
VII. Part C: MARKET SIZE AND TRENDS 1. How Large is the Market? There is a very large market size for a bar because people are always wanting to go out, have a good time with friends, and have some drinks. The market is extraordinary because a bar is something that will always be around.
VII. Part C: MARKET SIZE AND TRENDS 2. Is it growing or shrinking? How fast? A bar is something that is always looking to be renovated using new innovations. This gives countless room to grow and expand the target market as well as create new products and services. Creating customer retention is very important in this business and the only way to do this is keep up with market trends. Market trends for a bar would mainly include the drink selection. Drinks will always be needed, but will always change with demand.
IX. Part A: EXISTING COMPETITORS1. Who are they? Create a Competitive Profile Matrix. Strengths/Weaknesses Being in the night life industry there will be plenty of competition. Simply put, most of the competition will come from the surrounding bars and night clubs in the area. However, the other bars and night clubs are not that big of a distress. This is because there is no bar that is like this one in the area. The bar is not comparable to any bar which does include the in house services provided, arcade games, and drink specials; there is truly no other like it in the area.