wine bar business plan

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Sample wine bar business plan template.

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wine bar business plan

  1. 1. A Business Plan For A Local Wine Bar By: Team 4k Jackie Danchek, Adam DeBellis, Nick Fedak, Julie Novelli, Tracey Pasha Prepared For Clients Renee & Jim Cook Prepared For Professors: Jeff Anderson, Jamie Carter, Mike
  2. 2. Letter of(412) 913-9720 TransmittalJd167107@ohio.eduNovember 6, 2009Mr. and Mrs. Jim and Renee Cook3150 North SheffieldChicago, IL 60657Mr. and Mrs. Cook:Enclosed is a copy of a “A Small Business Plan for a Local Wine Bar.” This report is a summary of ourfindings on the costs and benefits of opening a wine bar in Athens, Ohio. Our wine bar will be called “Put ACork In It.” Our report has been prepared for you as well as our four professors. Funding for this report wasauthorized on October 15, 2009 by the Ohio University College of Business. We completed our report onschedule while meeting all of our original objectives as well as any new objectives we had been given.As promised in our proposal, we have found that overall, implementing a wine bar in Athens, Ohio would bea successful business venture. We believe that our wine bar will be successful for many reasons. Mostimportantly, there is a very low level of competition for wine bars. Currently, there are no other businessesthat offer the same products at the same level that we do. Our only other competitors would be Bella Vinowine shop as well as Stephen’s and Zoe’s fine dining restaurants. We believe that we have chosen a primelocation that provides plenty of parking for your customers. While speaking with both of you it was impliedthat you did not wish to hire any other employee’s. After extensive research we realize that it would bedifficult to run a successful business with just two people. It is important to have good customer servicewhen running a business, and with only two employees this could be very difficult. We recommend thatyou hire more employees in order to succeed. Overall, we believe our benefits outweigh our costs and thatPut A Cork In It will be a profitable endeavor.If you have any questions and/or comments regarding the interpretation of this report please feel free tocontact us at the number above. Thank you for your funding of this project and we look forward to workingwith you again soon.Sincerely,Group 4: Jaclyn Danchek, Tracey Pasha, Adam DeBellis, Nicholas Fedak, and Julianne Novelli
  3. 3. Executive SummaryThe purpose of this report is to determine the best potential opportunity for a new business venture inthe Athens community. A feasibility analysis was conducted for the potential operation of a wine bar.The goal of our study was to focus on our assigned operation of a wine bar. Our analysis includes astart up plan detailing the initial and ongoing operation costs as well as marketing efforts to make thispossibility a reality. The objective of this report is to understand the inputs needed to take part in thisbusiness enterprise and along with the most suitable and effective means to bring this wine bar to thelocal community and establish interest, knowledge, and prolong growth. Industry AnalysisThis report will begin with an industry analysis that will describe the growing popularity of wine bars inrecent years. When discussing the potential for a company to enter into an industry it is vital toexamine Porter’s Five Forces along with a S.W.O.T analysis to understand the barriers and potentialsuccess factors for the prospective client. This section will examine these factors to provide for abetter understanding of the achievability of such a business opportunity. Marketing AnalysisFollowing the industry analysis will be a breakdown of the marketing analysis for this business venture.This section will provide strong graphics that represent key trends in the wine market for the UnitedStates, Ohio, and Athens. Along with these market representations, this report will provideinformation relating to the proposed project’s target market, market description, and strategicopportunities. Individual promotion strategies along with a Customer Relationship Managementmodel will also be provided. Business PlanThe business plan section of this report will provide all the necessary information needed detailing thelocation, proposed wine and food menu items, and remodeling plans. The business plan will alsoprovide the information needed for day-to-day operations including licensing, permits, personnel, andhours of operation. Along with the business plan will be a detailed list of financials including start-upcosts, operating expenses, balance sheets, income statements, and forecasting. ConclusionThe purpose of this report was to determine the potential for opening a wine bar in Athens, Ohio. Thesections that have been included in this report detail all of the information that one would need todetermine the possibility of this proposed business opportunity.
  4. 4. Table Of ContentsIntroduction……………………………………………………………………………..5Industry Analysis………………………………………………………………………9 Porter’s 5 Forces……………………………….10 Competition……………………………………..12 S.W.O.T Analysis………………………………..13Marketing Analysis………………………………………………………………….15 Market Trends………………………………….15 Target Market…………………………………..20 Marketing Mix………………………………….21 Promotion Strategies……………………….22 Customer Relationship Management.27Business Plan…………………………………………………………………………28 Menu……………………………………………….29 Pricing Strategies……………………………..34 Location…………………………………………..36 Operational Plan……………………….......45Financial Analysis……………………………………………………………………52Conclusion……………………………………………………………………………..54References……………………………………………………………………………..55Appendices…………………………………………………………………………….58
  5. 5. 5 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Introduction The purpose of this report is to determine the best potential opportunity for a new business venture in the Athens community. A feasibility analysis was conducted for the potential operation of a wine bar. The goal of our study was to focus on our assigned operation of a wine bar. Our analysis includes a start up plan detailing the initial and ongoing operation costs as well as marketing efforts to make this possibility a reality. The objective of this report is to understand the inputs needed to take part in this business enterprise along with the most suitable and effective means to bring this wine bar to the local community and establish interest, knowledge, and prolong growth.
  6. 6. 6 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Proposed Company Name and LogoAfter consulting with the clients and researching potential options, we believe theproposed name of “Put A Cork In It” is the best option. Our goal was to create aname and logo that best represents the business. Our objective was to create a wine bar and restaurant that conveys a sense of a fun, welcoming, and enjoyable atmosphere. It was our job to create a modern name and logo. We believe that converting from our original idea of “Cook’s Corner” and alternate logo to the new proposed name and logo is the best way to transmit these ideas. The color scheme selected demonstrates the sense of style and atmosphere wanted for the business The wine man is included to portray a modern feel to the company logo. Athens is a very trendy environment and this will help the business “fit” in Cursive font helps portray asophisticated feeling to a somewhat trendy company name
  7. 7. 7 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Proposed Company Name and LogoIt was our train of thought that a unique name is a necessity for this particularsituation. Since this proposed business will practically be the only one of its kind, itis imperative that we are able to make the business as recognizable as possible.When a potential customer heard the name “Cook’s Corner” it may very well beportrayed as a place to grab a bite to eat and not represent the main focus of beinga wine bar. When a potential customer hears the name “Put A Cork In It” they willimmediately relate that with somewhere to enjoy a fine glass of wine, and that iswhat needs to be accomplished.The name may come across to some as possibly having some negative connotationsor some may develop skewed perceptions, but the addition of our tag line willsupplement a level of class that complements the name. Wherever our name andlogo appear, whether it be in an advertisement or a review, the tagline will beincluded to fill the need of sophistication.
  8. 8. 8 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Mission & Vision Statement A new taste in town… “Put A Cork In It” is a place for the relaxed, easy going, and harmonious members of the Athens community. We want the community to have a new favorite hangout, whether you’re relaxing with friends and colleagues or perusing a romantic evening. “Put A Cork In It” combines wonderful style, sophistication and genuine hospitality to create a truly unique experience. We offer great small entrees, appetizers, soups and salads, and homemade desserts with the combination of well priced wines. We work with local businesses and farmers to bring you the finest most natural and best tasting products. Our vision is to have a positive impact on the Athens Community while providing them with an upscale atmosphere for professors, graduate students, and other members of the community to enjoy wine and each others company.
  9. 9. 9 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Growing Popularity Of Wine BarsWine Bars began to gain popularity in the 1990’sand have continued to prosper in recent years. Bythe year 2000, wine bars became very popular,specifically in metropolitan areas. Wine bars offera relaxing environment that provides an alternativeto people looking for a more sophisticatedatmosphere than a typical bar scene. Traditionally, wine bars strictly offered wines and small appetizers such as cheeses or desserts. However, modern wine bars have now expanded to offer larger entrées. Based on the growing industry, the opportunity for a wine bar in Athens, Ohio seems to be a successful business venture.With wine tastings and buy the glass purchasing,customers are able to sample the product beforethey purchase a whole bottle. It offers an intimateappeal for those who are looking for a comfortablesetting to spend time with friends, family or asignificant other.
  10. 10. 10 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Porter’s 5 Forces Model Bargaining Power Bargaining of Supplier Power of Buyers -Very High -Very Low Competitive Rivalry -Stephens -Bella Vino -Zoe’s Threat of New Threat of Entrants Substitutes - Low - Low
  11. 11. 11 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Porter’s 5 Forces Breakdown Bargaining Power of Supplier Bargaining Power of CustomersAs a supplier, the bargaining power is very high. Being The customers have very low bargaining power the only wine bar in Athens, it provides a because there are no other wine bars which they can specialization in wine which no other businesses in go to as an alternative. Wine is an expensive good so Athens provide. Since there are numerous wine buyers do not have much influence on lowering thedistributors, they have the ability to choose between price. many distributors which gives them more control over inventory costs. Threat of New Entrants Threat of Substitutes The threat of new entrants is very low. With no liquor The threat of substitutes for a wine bar is very lowlicenses currently available and low levels of income in because there are only three other places in Athens the Athens community, the chance of companies that provide food and wine in the same way that our wanting to invest in a wine bar is almost non-existent. company will. Also these places do not offer as big of a wine selection as we will. The threat of substitutes for other alcohol serving locations is fairly high. Instead of coming to a place that would almost exclusively serve wine, they have the option to walk down court street and take their pick from one of the many bars that serve all of their favorite beers and liquors. Competitive Rivalry Our firm will provide a competitive advantage over our rivals. In this case our three main rivals would be Zoes, Bella Vino, and Stephens. We will be able to offer our customers a much larger selection of wines ranging from domestic to international wines. We will rise above our competition by providing numerous promotions that will invite our potential customers to come and enjoy all of the great things we have to offer: wine tastings, wines from around the world, college ID night, all in the confines of our inviting, modern, sociable setting.
  12. 12. 12 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Competition Bella Vino Location: 22 West Stimson Street •Largest Selection of Organic Wines in Southeast Ohio •Offers regular wine tastings •Offers •Organic & Specialty Wines •Beers & Spirits •Wine Accessories Stephen’s Restaurant Location: 66 North Court Street •Offers a seasonal menu, with daily specials and desserts • Bar offers Athens largest wine list •Casual to Fine Dining Zoe’s Restaurant Location: 24 1/2 East State Street •Contemporary Fine Dining
  13. 13. 13 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on S.W.O.T Analysis Strengths Knowledge and Experience: Since it will be owned and operated by Ohio University graduates, they have knowledge of the community and a good understanding of the atmosphere and people. Mr. Cook currently works in the wine industry for a wine distribution company so he is able to offer his expertise, giving him a competitive advantage over other possible competitors who may Weaknesses not possess the same knowledge. Setting: Not your typical wine bar crowd orLocation: Being located on West Union atmosphere: Uptown hasStreet puts the business in one of the numerous existing bars geared towardmost trafficked areas in Athens. This college students which have muchlocation also provides lots of parking so External Forces more potential of being successful. Winethat it is easily accessible to our bars are something that havecustomers. been gaining popularity in metropolitan areas. Since Athens is more of a rural area it will be difficult to attract customers that wish to spend a lot of money there. Liquor License: There is currently no available liquor licenses in Athens County. Options for achieving a license include: •Purchase an existing one from a current owner •Buy one from a surrounding county and transfer it over by proving it will help the local economy.
  14. 14. 14 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on S.W.O.T Analysis Opportunities Low Competition: Put a Cork in it has the opportunity to become the number one wine establishment in the Athens area. With Zoes and Stephens being the only other places that offer wine and dine, our company has the chance to come into Athens and provide a greater selection of wine with a very welcoming and friendly atmosphere. We can also provide a location that will cater to the wants and needs of our Threats target market. Professors, graduate students and older members of Athens do not have an alternative to the Undesirable Outcome: Currently there are crowded bar scene that Court Street only three threats to our particular type of limits them to. We offer a more establishment- Zoes, Bella Vino and welcoming and relaxed environment External Forces When our company begins Stephens. compared to the young and loud bar operating, we feel that the threat of other scene that exists on the weekends. similar establishments opening is very low. There is also the threat of the profits not outweighing the start up costs for the business. We are hoping to provide a desirable atmosphere to our target market, but the possibility of not gaining a large enough customer base or interest poses the threat of the company not being as profitable as hoped for.
  15. 15. 15 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Key Market Trends •Over 304 Million gallons of wine were sold in2007, making the U.S the largest consumer of wine in the world •Today, 57% of U.S Population is drinking wine, compared to 43% in 2000 •The wine retail market was at $27.9 Billion in 2007 •Wine consumption in Ohio has increased by 26% in the past 5 years. •Recent studies have shown significant health benefits from moderate consumption of red wine, it has anti-oxidants, anti-allergic, anti-histamines, and anti-viral properties •The age group 23 to 30 years of age are not as sophisticated about wine, as their elders generations are, and are willing to experiment with low cost wines.
  16. 16. 16 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All Toge Introdu Industry Marketing Business Financia Conclusi ction Analysis Analysis Plan ls on Key Market Trends U.S Wine Market 600 550Millions of Gallons 500 Wine has become 450 increasingly popular in the 400 United States in the last decade. The United States is 350 now the largest consumer of 300 wine in the world. 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 Ohio Wine Market Wine has also become 16000 increasingly popular in Ohio.Gallons Of Wine Consumed 15000 Ohio is ranked 9th in the 14000 country in wine 13000 consumption. 12000 11000 10000 9000 8000
  17. 17. 17 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Key Market Trends 2005 Wine Drinking at Home Wine has had the stereotype Market Share % By Age of being a beverage for the older crowd. Recent 74+ 6.6 statistics from the 200565-74 10.4 Alcoholic Beverage Handbook has shown that55-64 19.9 wine has become45-54 24.4 increasingly popular with the35-44 23.6 younger crowds. People25-34 12 between the ages of 35-64 < 25 3.5 are most likely to consume wine at their homes. 2005 Wine Drinking at Home Market Share % By Marital Status Wine Is a great beverage to share with a loved one. 14.8% Married Statistics have shown that married couples are the Married w/ No main consumers of wine in 31.3% 67.7% Children the United States. Married w/ Children 30.6% Single
  18. 18. 18 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Key Market Trends 2005 Wine Drinking Market Share At Bars/Restaurants By Age 74+ 3.365-74 11.255-64 23.9 Drinking wine with food has45-54 24.4 been a long tradition across35-44 19.9 the globe. The age group25-34 14.5 most likely to purchase wine at a bar or restaurant is ages < 25 3.2 35-64 2005 Wine Drinking at Bars/Restaurants By Marital Status Going out to a restaurant with a loved one has always Married been a popular activity. 23.6% Recent statistics from the Married w/ No 2005 Alcoholic Beverage 64.2% Children Handbook have shown that 27.6% Married w/ Children the majority of people who order wine at a restaurant or 33.9% Single bar are married.
  19. 19. 19 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Key Market Trends In Athens Age Distribution of People in Athens Athens County Household Income from 2006-2008 ( % ) (% Of Households)75-84 2 $200,000 + 2.165-74 2.1 $150,000-$199,999 1.360-64 1.4 $100,000-$149,999 6.5 $75,000-$99,999 6.155-59 1.5 $50,000-$74,999 17.245-54 4.6 $35,000-$49,999 935-44 6.4 $25,000-$34,999 5.825-34 10 $15000-$24,999 14.420-24 35.4 $10,000-$14,999 16.715-19 30.3 < $10,000 20.9 Types of Households in Athens County ( By % ) Other Non-Family Households 31 Other Families 9 People Living Alone 34 Married-Couple Families 26 Athens County is home to age groups mainly in 20-24 years old, 34.5%. A little over 50% of household Income are less than $25,000 a year, as previously mentioned, this could contribute to the low threat of new entrants in the wine market.
  20. 20. 20 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Target Market Market Description “Put A Cork In It” operates in the greater southeastern Ohio area, targeting those who are interested in wine, and/or are looking for a fresh, new social environment. The geographic area is focused on Athens county, but is not limited to other regions such as Logan, Nelsonville, Marietta, and the Hocking Hills areas. Market Size Athens is a historic college town in the southeastern region of Ohio. Athens is home to Ohio University and an estimated population of around 22,000. Athens has 7 adjacent counties (Clockwise starting from north) : Perry, Morgan, Washington, Wood(WV) , Meigs, Vinton, and Hocking. According to the 2000 U.S census the adjacent counties have an approximate population of 264,300. Target Customers The people “Put A Cork In It” mainly targets for its products and services have these characteristics: • Age Groups: 35-64 , College Graduates, Graduate Students, •Sex: Male and Female • Household Income: $35,000 + • Marital Status: Married Couples and Singles •Residence: Athens community Strategic Opportunities • There are currently no Wine Bars in Athens • Ohio University graduate students, professors, and other employees •The employees of local businesses: Appalachian Behavioral Healthcare, Hocking College, Diagnostic Hybrids, OBleness Memorial Hospital, Rocky Brands, and Wayne National Forest.
  21. 21. 21 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Marketing M ix and Position Our position in the market will be an entry level wine bar and bistro. It will be a comfortable and relaxing atmosphere that combines a contemporary and chic feel. We will have higher end dining at a reasonable price. Product: Price: Wines, Small Entrées and On average $4-8 per glass; $15- appetizers, as well as other 30 per bottle various alcoholic beverages Promotion: Events: Wines from Around the World, College I.D. Night, Wine Place: Tasting, CRM Database. 434 West Union Street Advertisements: Website, Facebook, Local Newspaper, Flyers
  22. 22. 22 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All Toge Introdu Industry Marketing Business Financia Conclusi ction Analysis Analysis Plan ls on Promotion Strategies Wine’s From Around the World “Wine’s from Around the World” is a promotional strategy that will be used to keep frequent customers. Based on the 80/20 rule, we believe it is important to keep the same customers coming back. Each time a customer comes into the wine bar they have the opportunity to try a glass of wine from one of fifteen different countries selected. After completing the fifteen countries, they are offered a complimentary bottle of the wine of their choice. This will tactic will help to increase customer satisfaction and loyalty as well as a growing customer base for our business. College I.D. Night Come visit Put A Cork In It on the second Friday of every month and receive 20% off your total bill with proof of a valid Ohio University I.D. This promotional strategy is geared toward the college students who wish to escape from Court Street for a night and enjoy a more sophisticated atmosphere at a less expensive cost than a typical night. Wine tasting events Customers can come and enjoy a fun evening out every first Friday of the month. By paying a set price ($50 per couple or $30 per person) you are able to receive ten different samples of new wines. This helps customers learn which wines they enjoy the most without having to buy individual glasses of them all.These Ads can be used in local newspapers for more Ads to be used for promotion see Appendices A ,B, & C
  23. 23. 23 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Promotion Strategies www.PutACorkInIt.orgThe creation of a website for “Put A Cork In Will Display Information Regarding:It” is necessary in order to achieve capturing • The Locationcustomers. The internet is now intertwined •The Mission Statementwith how our culture lives. A website can •The Food Menudisplay the necessary information about the •The Wine Menubusiness. •The Customer Relationship Management
  24. 24. 24 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Promotion Strategies Create A Facebook Page •A Facebook Page is a public profile that enables the sharing of the business and products with over 300 Million Facebook users. •When fans interact with the Facebook Page, stories linking to the Page can go to their friends via News Feed. As these friends interact with the Page, News Feed keeps driving word-of-mouth to a wider circle of friends. •Add Events, Photos, and Promotions to the Facebook page so your fans and followers know whats going on. • Display key details for the business, like location, directions, and hours of operations.
  25. 25. 25 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Promotion Strategies Advertise on Facebook •Reach over 300 Million active Facebook users • Attach social actions to ads to increase relevance • Advertise “Put A Cork In It” Facebook page, events, or actual website •Can Pay Per Click •Track progress with real-time reporting •Gain market insight about who’s clicking on ad Example of Facebook Advertisement Success Over 12 months, CM Photographics generated nearly $40,000 in revenue directly from a $600 advertising investment on Facebook. Of the Facebook users who were directed to CM Photographics’ website from the ads, 60% became qualified leads and actively expressed interest in more information. (Facebook.com)
  26. 26. 26 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Promotion Strategies Put A Cork In It- Wine Bar Advertisement for Athens Post Location: 434 West Union Street• Cost for 3” by 6” Ad is $172.50 Services: Large wine selection, Small• A student ran entrees & Appetizers, and other beverages newspaper, primarily read by college students so we Upcoming Events: On 2nd Friday of every promoted our College ID month college students can receive 20% off nights their entire bill just by showing their• Accessible to over 23,000 student ID including students and facultyAthens News Advertisement Put A Cork In It- Wine Bar•Cost for 3” by 5” Ad is$158.00 Location: 434 West Union Street• Local Newspaper Services: Large wine selection, Small distributed to community entrees & Appetizers, and other beverages members in 350 locations, so we promoted Upcoming Events: On 1st Friday of every our wine tastings since the month we have wine tastings which have viewers of this paper are tickets $30 each or $50 per couple. primarily older viewers.• Reaches 18,000 views throughout Athens County
  27. 27. 27 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Customer Relationship Management Customer Signs Up For Preferred Customer Program • Either online on our website • Or at our location Customer Fills Out Information • Name, Address, Cell Phone Number, Email, Birth date, Favorite Wines & Foods, Interests, Suggestions, Affiliation with Ohio University • Information is entered into CRM database software which can manage the emails, group customers according to interests, and allow customers to communicate easily with owners. Customers receive frequent notifications • Emails about promotional events, such as wine tastings, will keep customers updated with times and details about events • Customers benefit from being on preferred customer list because once a month an email will be randomly selected to receive a coupon for a discount on various menu items. Benefits of implementing CRM • Improved communication between owner and customer builds a relationship that makes the customer feel valued because their suggestions and comments are taken into consideration to improve customer service. • Customers will bring in more business by suggesting friends and family dine at the restaurant to increase business
  28. 28. 28 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Introduction to Business Plan Our Business Plan for Put A Cork In It was well planned and developed to assure the success of this business venture. Our plan entails: • Menu •Wine Selection •Wine Distributors •Pricing Strategies •Exterior and Interior Designs •Operational Plan •Employee Personnel & Operation Specifications By following our set business plan the business will be able to carry out day to day operations as well as plan for future operations.
  29. 29. 29 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on MenuAt “Put A Cork In It” you’ll find a selection of homemade small plates. Order a couple toshare with a group of friends or order a few to explore new tastes for yourself and a lovedone. We pair our wonderful dishes, soups , salads, and sandwiches with wonderful tastingwines to offer an exquisite dining and social environment. Finish your experience with a tasteof our wonderful gourmet desserts. Cheese & Charcuterie Signature Small Plates Soups, Sandwiches, Salads Desserts
  30. 30. 30 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All Toge Introdu Industry Marketing Business Financia Conclusi ction Analysis Analysis Plan ls onCheese & CharcuteriePick 3, 5,7 Selections- Seasonal Artisanal Cheeses- CharcuterieGenoa Salami, Gentile Salami, Prosciutto d’Parma, Salami ToscanaAccompaniments-Imported Olives, Olive Tapenade, Sun-Dried Tomatoes, PeperoncinisServed With Freshly Baked Artisan BreadsSalads, Soups, SandwichesHouse Salad- Crisp greens, Spring mix, Hearts of Palm, Kalamata olives, Locally grown tomatoes andfreshly roasted pine nuts , tossed with a citrus herb vinaigrette.Cesar Salad – Romaine Lettuce , Parmesan & Asiago Cheese, Homemade Garlic Sourdough Croutons.Greek Salad- Feta, Tomato, Onion, Olives, Garbanzo Beans, and Pepperoncinis with HomemadeVinaigrette.Crab & Corn Chowder- A flavorful chowder with Lump Crab, Andouille Sausage, and locally grownSweet CornSummer Tomato & Basil- Classic favorite with Garlic and locally grown BasilCreamy Baked Potato Soup - Topped with Applewood Smoked Bacon, Cheddar Cheese, and ChivesWhite Asparagus- A Organic Vegetarian Soup Garnished with Homemade Garlic Sourdough CroutonsFrench Onion- Caramelized Onions simmered in our Homemade Broth topped with meltedMozzarellaTortilla Soup - Cheddar Cheese, Cilantro, Chicken, Topped with Crispy Tortilla StripsChicken Club Sandwich- Grilled Chicken Breast, Applewood Smoked Bacon, Lettuce, Tomato andStone Ground Mustard Sauce on a Freshly Baked Artisan Bread.Tenderloin Steak Sandwich- Locally Braised Tenderloin prepared medium rare, served withCaramelized Onions and Blue Cheese Sauce.Tuscan PLT Panini - Oven Roasted Prosciutto d’Parma, Lettuce, Tomato, and Sauce.
  31. 31. 31 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls onSignature Small PlatesMeatballs – 2 Homemade Meatballs made with Grandma’s secret recipe.Tomato Mozzarella Salad – Locally grown Tomatoes, Garlic, Balsamic Vinegar, Olive Oil and FreshMozzarellaCalamari – Breaded in a Spicy Pepper BlendGarlic Roasted Hummus - Homemade served with Italian Tomato Salsa and Pita ChipsCrab Stuffed Portobello - Roasted Portobello Mushrooms stuffed with Crab meat, Cheese, andBreadcrumbs.Crab Cakes - Served with Creole Aioli and ArugulaTuscan Quesadilla- Locally Grown Tomatoes ,Oregano, Basil, RoastedGarlic, Mushroom, Spinach, Three Cheese Mix, served with Marinara SauceFlatbreads- Choose From Prosciutto and Fig , Steak and Mushroom , Tomato BruschettaDessertsCrème Brulee Trio - Classic, Dulce de Leche and Raspberry VanillaCarmel Pecan Turtle Cheesecake - Pecan Brownie and Caramel Swirl Cheesecake, Topped withCaramel Turtle Pecans and Chocolate.Apple Cobbler- Cinnamon and Caramel Apples with a Butter Crunch topping,served warm with Vanilla Bean Ice CreamChocolate Truffle Cake- Raspberry Sauce, Dark Chocolate Sauce, Sweet CreamSeasonal Berries – Served with choice of fresh whipped cream, Shortcake, or Sorbet.Chocolate Fondue – For 2 or 4 , Served with Fresh Fruit, Biscotti, and S’Mores.Biscotti- Order of 3, White Chocolate, Almond Crunch, and Chocolate Cherry
  32. 32. 32 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Wine Selections The variety of our selection of wines will be based on Mr. Cook’s knowledge of wine, our target market, and our budget. After the wine bar has been in operation for a year or two the Cook’s will be able to base their selection off of the most popular wines sold and off customer feedback. To start off with it is important for Put A Cork In It to have a wide variety of inventory. The categories for wine include: Light White Wines which include •Pinot Grigios and Sauvignon Blancs Sweet White Wines •Most popular being Rieslings Blush Wines which have a lightly sweet and tart taste: •Such as White Zinfandel Light to Medium Red Wines which include: •Pinot Noir and Merlot Strong Red Wines which include: •Cabernet and Zinfandel Dessert Wines are lighter sparkling wines •Including champagne wines.
  33. 33. 33 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Wine Selection Each category of wine can be purchased from various brands offered by distributors. Various brands from each category are offered by the Glazer distribution company which operates out of Columbus, which Mr. Cook is familiar with. Another prominent distributor out of Columbus is Heidelberg, and after opening for operation more distributors will make themselves known to the wine bar to increase their business. Through these distributing companies, Put A Cork In It should also offer a small selection of beers. Based on the rural setting and our target market, offering beverages which are less expensive and less sophisticated, such as beer, is important. These beers could include craft beers such as Great Lakes or Samuel Adams.
  34. 34. 34 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Pricing Strategies Our pricing strategy would be based on a mark-up strategy. A mark- up is defined as the amount that a seller of goods or services chargers over and above the total cost of delivering its product or service in order to make a desired profit. The equation used for this is Cost x Markup + Cost = Selling price. Markups must be sizable enough to cover all anticipated business expenses and reductions, such as markdowns, stock shortages, and employee and customer discounts, and still provide the business with a good profit. A good markup suggestion guideline is as follows: Beer – 2 ½ to 3 Times the Cost Wine by the Glass – 3 to 4 Times the Cost Carafe Wine – 2 ½ to 3 Times the Cost Dessert Wine – 2 to 2 ½ Times the Cost
  35. 35. 35 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Pricing StrategiesOur pricing strategy will also be efficient andrather simple, in order for it to be easier for theemployees and customers a like. When itcomes to pricing it is also a good strategy toprice by the quarter. Having prices ending in.00, .25, .50 and . 75 is an effective pricingstrategy to keep it easier forbartenders, customers and workers to add upmentally and therefore it is more efficient. Based on our primary research from the local wine shop, Bella Vino the average markup on wine is 33%. If purchasing a bottle around the desired price Mr. Cook looked to purchase, $10-$15, a $12 bottle would be $15.96 which is rounded to $16.00. The average amount of glasses per bottle is 4 so each glass in this case would cost $4 and if the customer wanted to purchase the entire bottle it would be $16.
  36. 36. 36 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Location: 434 West Union Street This commercial property offers a great location on West Union Street in Athens, Ohio. West Union is one of the city’s most trafficked roads and this highly-visible location offers a great spot for a business. This 2400 square foot building comes with newer heating and cooling systems, good parking, handicap accessible entrances, and bathrooms that make this property a move-in ready opportunity. We believe that this location and building offer what is needed to operate a wine bar in Athens. This property is located in the most lenient type of zone which means it can easily be converted into a wine bar/restaurant. The 2400 square foot building provides the space needed to have a small kitchen and have the space for the bar area. Cost: $179,000
  37. 37. 37 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Location Structure LayoutThe current structure of the location is set up for an office building. This is the recommendedseating arrangement for “Put A Cork In It”. We purpose adding a bar, small tables, large sharingtables, booths, and a outdoor dining deck. 7 Small Tables Bar Bathrooms Seats 1-2 People 40’ x 8’ Male & Female Overhead Glass Storage Sink & Toilet Under Counter Wine Storage 3.5’ x 7’ Around 15-18 SeatsOutdoor Dining Deck 3Booths 2 Large Kitchen 15’x20’ Seats Between 2-4 People Sharing Tables Fully Equipped 3 Tables Seats Between Storage Space Lights/ Umbrellas 6-8 People 20’ x 17’
  38. 38. 38 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Location- Proposed Exterior ChangesThe exterior of this building needs a makeover.Currently, the building has a bluecolored siding that needs to be changed to better fit the style of this business.This would be changed to having stone panels run the length of the building andextending up to meet the bottom of the windows. From where the stone endsand upward will be covered by white siding. Estimated Cost: $5000-$6500 Estimated Cost: $2000
  39. 39. 39 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All Toge Introdu Industry Marketing Business Financia Conclusi ction Analysis Analysis Plan ls on Location- Proposed Exterior Changes The left side of this building offers what we believe to be a great opportunity to add on a deck. There are two windows that could be knocked out and replaced with sliding glass doors. These doors will lead out on to the deck that will be approximately 15ft x 20ft. The deck will be furnished without outdoor tables and chairs along with appropriate lighting so that our customers may enjoy their experience outside if so desired. 4-5 tables 8-10 ChairsCost: $800-$1000 Cost: $1000-$1250 Deck Cost: $5000-$7000 Lighting Cost: 164ft of white LED rope lights- $400
  40. 40. 40 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Location- Interior: KitchenAlong with serving wine, we find it in the businesses best interest to serve foodon a small scale as well. Serving food requires that we designate a part of thebuilding for a small kitchen. Total Kitchen Appliance Cost: $10,800 • Dual section reach in refrigerator •Work station with under storage refrigeration •Multi-compartment sink •Range with burners and standard oven •Counter-top dual deep fryer •Dishwasher •Commercial Microwave
  41. 41. 41 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Location- Interior: Dining Room The dining room area will be roughly 1,800 Square feet , consisting of a few group tables and many two to four person tables. All of the tables and chairs will be high, as well as the bar stools. The lighting will be dim, matching that of the image below. There will also be a few booths for a more comfortable and intimate setting, located perpendicular to the bar itself.
  42. 42. 42 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Location- Interior: Proposed Floor and Wall Plans The flooring will be a choice of the two hard woods listed below with a combination of one of the three paint colors. We will have a white trim along the bottom wall to add beauty and sophistication to the room. Churchill Hotel Ecru White Clay Castle Patch
  43. 43. 43 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All Toge Introdu Industry Marketing Business Financia Conclusi ction Analysis Analysis Plan ls on Location- Interior: Dining Room Furniture The dining room will consists of all high tables that have a more modern feel to them. Most of the tables will be for either two to four people which creates a more intimate setting. Also, we will have a few large tables so that people can enjoy the night with a group of friends. Modern Wenge Bar Table Black tall Bar Stool: Black Double Boothwith a middle frosted glass. IKEA $99 390.00 Each (2) $595 Black Single Booth 250.00 Each (2)
  44. 44. 44 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Location- Interior: Dining RoomWe will use aesthetics to add to the intimate feel of our wine bar by using curtainsand drapery throughout the venue. We will also have a candle set on each tableand wall paintings so that we are able to dim the lights and create a relaxingatmosphere for our customers to come and unwind after a long day of work.
  45. 45. 45 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Operational Plan: Production Methods As a business operating in Athens, Ohio we believe that obtaining as much of the food products as possible from the Athens Farmers Market is a great way to help the local economy, while providing the restaurant with fresh, delicious ingredients. The value of knowing where our food comes from is of great importance to us as well as our consumers. Using the Athens Farmers Market as the main supplier of our food and ingredients allows for support of the local community, and a great way to integrate the company throughout Athens.
  46. 46. 46 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Operational PlanLocation:434 West Union StreetAthens, Ohio 45701Location:The site that we have chosen for this location providesan existing building. The building that is in place has beenused in the past as an office building, but still holds whatwe believe is necessary to convert it into a wine bar.Needs for the Location:Since the building was last used as an office building, there is definite remodeling that needs to bedone: •Knock out dividing walls inside the building •Add wall needed to divide the kitchen from the bar area •Provide proper equipment and structures to operate a functional kitchen •Purchase all of the furniture and amenities for a proper bar area •Install desired flooring and lighting through out the building •Make recommended changes to the external siding of the building •Add on a deck to the side of the building and acquire the proper furniture and lighting •Acquire proper licensing and zoning regulations to be converted into a wine bar
  47. 47. 47 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Operational Plan: Legal Environment Liquor License in Athens, Ohio: Currently obtaining a liquor license in Athens may prove to be a difficult task because the county is currently over the limit for licenses allowed. To operate a wine bar in Athens, a liquor license must be obtained. The specific license that is needed for this type of bar is a D-2 Permit. The cost of this permit is $564 per year along with a $100 application fee. Problems: -Need an additional 2,000 people to the Athens population for a new license to be created -Waiting list for a liquor license has been occupied since 1982 -Possibility of purchasing a license from a surrounding county, but the proposed business must prove that they will provide an economic benefit to the area they are bringing the license
  48. 48. 48 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Operational Plan Zoning: The zone that our potential business site is located in is specified as a B-3 zone. This type of zone is the most lenient, and allows for almost any type of business. Permit: To officially change the site from an office building to a wine bar, the owners need to obtain a “Use Permit” through the Ohio Code Enforcement that will allow for the transformation.
  49. 49. 49 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Operational Plan: PersonnelMr. and Mrs. Cook want to be the sole owners and operators of “Put A Cork In It”wine bar. They will be responsible for all aspects that are involved in the operation ofa small business including: •Managing the company’s finances and operations •Ordering and keeping track of inventory •Cooking, bartending, and serving •Function as the only employees of their business
  50. 50. 50 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Operational Plan: Personnel Recommendation To ensure the success of this business along with high customer satisfaction, having just two employees is not a viable option. With a functioning kitchen, bar, numerous tables, and an outdoor deck area there is a definite need to hire at least two more employees to help with the operation of this business. These employees can be paid normal waiter/waitress wages plus tips, and provide a great benefit to the overall effectiveness of business operations.
  51. 51. 51 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Operational Plan: Hours of Operation and Seasonal Operation Hours of Operation: -Put A Cork In It will open Tuesday through Sunday starting at 5:00 pm and remain open until 1:00 am… -Reservations are recommended but not required… -The dress code is casual… -We offer a modern, fun, and welcoming atmosphere Seasonal Operations: -Athens is a college town, that requires businesses to adapt to the schedule of the university. During the times that school is in session we predict to have no problem running our normal hours as listed above. -It is times such as Winter Intersession and Summer break when we feel that the hours of operation may need to change to allow for the most success. -While our target market of professors, grad students, and older members of the Athens community may not decrease as much as the student population during these times, we still believe that business will have quite a substantial drop off. Seasonal Hours of Operation: -Put A Cork In It will open Thursday through Sunday starting at 5:00 pm and remain open until 1:00 am.
  52. 52. 52 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Financial Analysis Our Financial Analysis Includes: • Start-Up Expenses…………………………………………………………… See Appendix D •Balance Sheets (Opening Day to Year 3)…………………………… See Appendix E •Sales Forecast (12 Month)………………………………………………… See Appendix F •Income Statement/ Profit-Loss Projection (3 Years)…………. See Appendix G •Break Even Analysis………………………………………………………….. See Appendix H •Loan Amortization……………………………………………………………. See Appendix I
  53. 53. 53 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Financial Analysis The financials are based off a $500,000 loan with an interest rate of 6.5% and a down payment of $50,000. Start-Up Expenses: $265,850 Sales Forecast: Projected 1st Year Sales: $216,000 Projected 2nd Year Sales: $226,800 (Increase of 5%) Projected 3rd Year Sales: $244,944 (Increase of 8%) Break-Even Sales Level = $121,346 3 Green Months = Busiest Sales Months 5 Black Months = Moderate Sales Months 4 Red Months = Slow Sales Months Busiest Sales: ($27,200 per Month) 80 Glasses A Day @ Avg $ of 6.00 20 Bottles A Day @ Avg $ of 20.00 40 Plates A Day @ Avg $ of 12.00 Moderate Sales:($19,200 per Month) 60 Glasses A Day @ Avg $ of 6.00 12 Bottles A Day @ Avg $ of 20.00 30 Plates A Day @ Avg $ of 12.00 Slow Sales:($9,600 per Month) 30 Glasses A Day @ Avg $ of 6.00 6 Bottles A Day @ Avg $ of 20.00 15 Plates A Day @ Avg $ of 12.00
  54. 54. 54 Enjoyable Atmosphere, Excellent Food, Exquisite Wine… …Bring Them All TogeIntrodu Industry Marketing Business Financia Conclusiction Analysis Analysis Plan ls on Conclusion The purpose of this report was to determine the best potential opportunity for a new business venture it the Athens community. A feasibility analysis was conducted for the potential operation of a wine bar. After extensive research and planning we provided an industry analysis, marketing analysis, business plan, and projected financial statements for our clients to examine. It is our recommendation to the client that if the information provided in this report caters to their wants and needs, that they take the appropriate actions to make this possibility a reality.
  55. 55. 55 ReferencesAthens County Auditor. 2007. “Data for Parcel A027270000900”. Retrieved from<http://www.athenscountyauditor.org/Data.aspx?ParcelID=A027270000900>.Athens County Visitors Guide. Media Brite. Web. 11 Nov. 2009. Retrieved from<http://www.athensohio.com/whattodo/index.php?page=32&item=16>.Athens Farmers Market. Web. 11 Nov. 2009. Retrieved from <http://www.athensfarmersmarket.org/>.Athens Ohio Real Estate. 2009. “434 West Union Street, Athens”. Retrieved from<http://www.athensohiorealestate.com/iview.php?pID=12460>Bella Vino Wine Shop. 2009. Web. 11 Nov. 2009. Retrieved from <http://www.bellavinoathens.com/>.Chamberlain, Russel. Telephone Interview. 2 November 2009.Cheers On-Premise Handbook,2009. Cheers OnTrac Bar ManagersControlling liquor, wine & beverage costs. Google Books. 11 Nov. 2009Retrieved from <http://books.google.com/books?id=JBQhwX-zfDoC&>.Cost Helper. 2009. “Cost of a Deck”. Retrieved from <http://www.costhelper.com/cost/home-garden/deck.html>Department of Commerce. 2009. “Division of Liquor Control”. Retrieved from<http://www.com.ohio.gov/liqr/permitclasses.aspx>Exterior Portfolio.Web. 11 Nov. 2009. Retrieved from<http://www.exteriorportfolio.com/EP/Dream/Visualizer/index.aspx>Facebook Home. Web. 11 Nov. 2009. Retrieved from <www.facebook.com>.Faux Panels. 2009. “Carlton Cobblestone Faux Panels”. Retrieved from<http://www.fauxpanels.com/carlton-stone/styles-cobblestone.php?color=91>
  56. 56. 56 ReferencesGlazer’FamilyCompanies. 11 Nov. 2009. Retrieved from<http://www.glazers.com/Glazers/contentController.nonsecure?contentMenu>.Heidelburg Distributing Company. 11 Nov. 2009. Retrieved from <http://www.heidelbergdistributing.com/>.Ikea Home. Inner Ikea System. Web. 11 Nov. 2009. Retrieved from <http://www.ikea.com/us/en/>.Katom Restaurant Supply. 2009. “Restaurant Equipment”. Retrieved from<http://www.katom.com/restaurant-equipment.html>Margin or Markup? Wine & Liquor Pricing Strategies. 11 Nov. 2009. Retrieved from<http://www.dribbleworld.com/dribblethoughts/margin-or-markup-liquor-pricing-strategies/>.New Strategist Editors. Whose Buying. 4th ed. Ithica: New Strategist. Print.Old House Web. 2008. “Estimated Remodeling and Repair Costs”. Retrieved from<http://www.oldhouseweb.com/how-to-advice/estimated-remodeling-and-repair-costs.shtml>Professional’s Source. 2009. “JBL Wall Mount System”. Retrieved from<http://www.bhphotovideo.com/bnh/controller/home?O=&>Quick MBA. Strategic Management, 2007. Web. 10 Nov. 2009. Retrieved from<http://www.quickmba.com/strategy/porter.shtml>.Quick MBA. Strategic Management, 2007. Web. 11 Nov. 2009. Retrieved from<http://www.quickmba.com/strategy/swot/>.Selling Wine: Most People Dont Prefer Wine in the Bottle, They Prefer It in a Glass. Restaurant Owner. 11Nov. 2009. Retrieved from <http://www.restaurantowner.com/public/381.cfm>.The Athens News. 2009. “Athens News Advertising Consultants. Retrieved from<http://www.athensnews.com/>.
  57. 57. 57 ReferencesThe Post. 2009. Retrieved from < http://www.thepost.ohiou.edu/>.US Census Bureau. U.S. Department of Commerce. Web. 11 Nov. 2009. Retrieved from<http://www.census.gov/>.Wicks and Sticks Home Page. Web. 11 Nov. 2009. Retrieved from <http://wicksandsticks.org/>.Wine and Spirits Industry Marketing Handbook, 2004. Adams Beverage Group. Print.Zoes Restaurant. Web. 11 Nov. 2009. Retrieved from <http://www.zoefinedining.com/>.
  58. 58. 58Appendix A - College ID Night
  59. 59. 59Appendix B – Wines Around the World
  60. 60. 60Appendix C – Wine Tasting Event
  61. 61. 61Appendix D – Startup Expenses
  62. 62. 62Appendix E – Balance Sheets
  63. 63. 63 Appendix F – Sales ForecastGreen Months = Busiest Sales MonthsBlack Months = Moderate Sales MonthsRed Months = Slow Sales MonthsBusiest Sales: ($27,200 per Month)80 Glasses A Day @ Avg $ of 6.0020 Bottles A Day @ Avg $ of 20.0040 Plates A Day @ Avg $ of 12.00Moderate Sales:($19,200 per Month)60 Glasses A Day @ Avg $ of 6.0012 Bottles A Day @ Avg $ of 20.0030 Plates A Day @ Avg $ of 12.00Slow Sales:($9,600 per Month)30 Glasses A Day @ Avg $ of 6.006 Bottles A Day @ Avg $ of 20.0015 Plates A Day @ Avg $ of 12.00
  64. 64. 64 Appendix G – Income StatementsWe predict that sales will increase by 5% from Fiscal Year 1 to Year 2. We also predict a increase of8% from Year 2 to Year 3.We predict increases in the following operating expenses:Payroll-The addition of one employee each year stopping at Year 5.Wage $3.65, Hours A Week =30Advertising-With the growing popularity we will expect the additions of $500 a year in advertising expenses
  65. 65. 65Appendix H – Breakeven Analysis
  66. 66. 66Appendix I – Loan Amortization

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