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Our biggest savings of the year
The Spot
Executive Summary
Opportunity
Problem
It’s not the lights; it’s not the liquor; and it’s not the sound. It’s the people!
And its the FUN! Successful nightclubs are based on an accurate understanding of the core customers.
Solution
The spot will create a nightclub environment that satisfies the changing tastes and expectations of our core customers; i.e. college-age women. If the women come, the men will follow. In order to achieve this goal, we must constantly improve our response to the customers’ entertainment needs.
Market
The Spot will focus on college-age women who are looking for a high energy, fun nightclub environment to socialize and dance. 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 also extends to the areas surrounding the university that we expect will attract new customers to the Spot.
Competition
The current competition is not the point. 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 do competitive analysis in detail for due diligence. It doesn’t affect our plan.
Why Us?
The mission of the Spot is to create a nightclub environment that satisfies the changing tastes and expectations of our core customers; i.e. college-age women. If the women come, the men will follow. In order to achieve this goal, we must constantly improve our response to the customers’ entertainment needs.
Expectations
Forecast
Our forecast is clearly too profitable, for now. We will be doing annual reviews and we expect to have to revise expense budgets upward over time.
Financial Highlights by Year
Financing Needed
Each of the three principals will invest $70K, making a total of $210K owner investment.
Robert Shaw : $70,000
Jill Morse : $70,000
Sheila Thompson : $70,000
We will also need a line of credit to get through early months of negative balances.