Sports Bar Business Plan

Take Five Sports Bar and Grill

Execution

Marketing & Sales

Marketing Plan

A combination of local media and event marketing will be utilized at each location. Radio is most effective, followed by local print media. As soon as a concentration of stores is established in a market, then broader media will be employed.

The strategy of live broadcasting and pro sports tie-ins has been most effective in generating free publicity for the flagship location which has been more effective than any advertising that could have been purchased.

Sales Plan

The sales strategy is to build and open new locations on schedule in order to increase revenue. Each individual location will continue to build its local customer base over the first three years of operation. The goal is $3 to $5 million in annual sales per unit. A unit will be considered mature once it has passed the $3.5 million mark in annual sales.

Operations

Technology

The key elements of Take Five’s restaurant store concept are as follows:

• Sports based themes–The company will focus on themes that have mass appeal.
• Distinctive design features–All stores will be characterized by spectacular visual design and layout. Each store will display a collection of authentic sports memorabilia.
• High profile locations–The company selects its store locations based on key demographic indicators, including traffic counts, average income, number of households, hotels, and offices within a certain radius.
• Celebrity events–The company stores will be distinguished by the promotional activities of sports celebrities and by media coverage of appearances and special events.
• Retail merchandising–Each store will include an integrated retail store offering premium quality merchandise displaying the company’s logo design. In addition sports memorabilia will be sold.
• Quality food–Each Take Five store will serve freshly prepared, high quality, popular cuisine that is targeted to appeal to a variety of tastes and budgets with an emphasis on reasonably and moderately priced signature items of particular appeal to a local market.
• Quality service–In order to maintain its unique image the Company provides attentive and friendly service with a high ratio of service personnel to customers and also invests in the training and supervision of its employees.

Milestones & Metrics

Milestones Table

Key Metrics

Our key metrics are: 

• # of reviews and returning customers. Our quality is great if customers keep on coming back 
• # of tweets and retweets 
• #of likes on facebook 
• inventory turnover, make sure no food spoils 
• investing in training staff and info on best customer answers  
• have staff push certain entrees every day