Start-up Funding | |
Start-up Expenses to Fund | $65,800 |
Start-up Assets to Fund | $9,200 |
Total Funding Required | $75,000 |
Assets | |
Non-cash Assets from Start-up | $1,280 |
Cash Requirements from Start-up | $7,920 |
Additional Cash Raised | $0 |
Cash Balance on Starting Date | $7,920 |
Total Assets | $9,200 |
Liabilities and Capital | |
Liabilities | |
Current Borrowing | $0 |
Long-term Liabilities | $0 |
Accounts Payable (Outstanding Bills) | $0 |
Other Current Liabilities (interest-free) | $0 |
Total Liabilities | $0 |
Capital | |
Planned Investment | |
Dashiell Lavine | $20,000 |
Tyler Vogel | $20,000 |
Joe Smith | $17,500 |
Bob Adler | $17,500 |
Other | $0 |
Additional Investment Requirement | $0 |
Total Planned Investment | $75,000 |
Loss at Start-up (Start-up Expenses) | ($65,800) |
Total Capital | $9,200 |
Total Capital and Liabilities | $9,200 |
Total Funding | $75,000 |
All of these qualities are consistent with The Bottlecap’s goal of providing a central hub of communication and socialization for the Eugene community. In addition to a main area of the bar, there will be two additional rooms. One of the rooms will be the manager’s office and will also house the computer that the website will be maintained on. The second room will be a storage facility for supplies and extra kegs of beer.
The Bottlecap will provide its customers with a unique and friendly environment for enjoying specialty brews and other quality beers. The Bottlecap will also provide customers with a unique and innovative environment for enjoying the quality beers on tap, including a pool table and a big screen television for sporting events.
The Bottlecap will be the first classy beer-only pub located near the campus that provides its customers with quality beer at affordable prices.
The Northwest is the Mecca of microbrews and home brewing, and in recent years there has been a surge of interest in craft beers. That is why we believe The Bottlecap, a speciality beer tavern, will flourish in the city of Eugene. Our target markets include beer connoisseurs, professionals, and college students. The identification of these three markets will help us to better direct our advertising and marketing efforts.
Our numbers are based upon the approximate population of Eugene and Springfield. Because many people are not drinkers, we decided upon the number 100,000 for the total of people considered available customers. We then segmented the available customers into the following groups:
Beer Connoisseur : These people will be drawn to The Bottlecap because of their love and passion for beer. The main appeal to this segment will be the large number of hard-to-find beers that are available at our establishment.
Professionals : The general bar-attending public from Eugene. This group will be drawn to the bar after work to relax in a friendly and classy atmosphere.
College Students : University of Oregon and Lane Community College students. More bargain marketing will be aimed at the segment of the market.
Market Analysis | |||||||
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
Potential Customers | Growth | CAGR | |||||
Beer Conniseurs | 12% | 20,000 | 22,400 | 25,088 | 28,099 | 31,471 | 12.00% |
Professionals | 8% | 30,000 | 32,400 | 34,992 | 37,791 | 40,814 | 8.00% |
College Students | 10% | 20,000 | 22,000 | 24,200 | 26,620 | 29,282 | 10.00% |
Other | 2% | 30,000 | 30,600 | 31,212 | 31,836 | 32,473 | 2.00% |
Total | 7.60% | 100,000 | 107,400 | 115,492 | 124,346 | 134,040 | 7.60% |
Both advertising and word-of-mouth will play a big part in the success of The Bottlecap. Therefore, we will strive to appeal to both new and old customers with a unique advertising campaign, including an online presence that will allow regulars to vote for which beers will be featured each week, as well as a friendly atmosphere that will keep the customers coming back.
The pub and bar industry in Eugene has grown steadily in its past years. Many factors contribute to the large demand for good beer in Eugene. The climate in Eugene is extremely conducive to beer consumption. Current trends in the Northwest reflect the popularity of unique, quality microbrews. In short, Eugene is a haven for beer lovers.
Due to intense competition, bar owners must look for ways to differentiate their place of business from others in order to achieve and maintain a competitive advantage. The founders of The Bottlecap realize the need for differentiation and strongly believe that combining a bar with a classy and entertaining atmosphere is the key to its success.
Since the business will be located near the University of Oregon campus, our three main competitors will be Rennie’s Landing, Taylor’s Bar & Grill, and Max’s Tavern. During the first six months of operation we will aggressively advertise ourselves to University students to differentiate ourselves from the competition.
The main target audience will be University of Oregon students, therefore, we will principally advertise in the University of Oregon’s Daily Emerald and the Eugene Weekly. We will also advertise on various radio stations.
The Bottlecap will have an edge over the competition due to the large number of specialty beers that will be on tap. The companion website will also give regular customers additional incentive to keep returning to the bar due the ability to vote and influence what beers are on tap as the specialty beers each week. We will also further differentiate ourselves by creating a classy yet laid-back atmosphere that will include a big screen television and a high quality pool table.
Both advertising and word-of-mouth will play a big part in the success of The Bottlecap. Therefore, we will strive to appeal to both new and old customers with a unique advertising campaign, including a online presence that will allow regulars to vote for which beers will be featured each week, as well as a friendly atmosphere that will keep the customers coming back.
The Bottlecap’s sales forecast was estimated by breaking down each day we are open into hours, and then estimating the number of beers we will sell during those hours. Our starting hours of operation will be 12 p.m.-3 a.m. Saturday, 12 p.m.-12 a.m. Sunday, and 4 p.m.-3 a.m. Wednesday-Friday.
We then estimated that approximately 30% of our sales will be domestic beer, 38% specialty microbrew beer, and 32% local microbrew beer. The unit prices and direct unit costs were based upon the cost of the same type of beers sold at local bars and the cost of kegs from local distributors. These numbers could drastically shift either way depending upon location, market saturation, and the customer base.
Sales Forecast | |||
Year 1 | Year 2 | Year 3 | |
Unit Sales | |||
Specialty Microbrewed Beer | 50,381 | 55,419 | 60,961 |
Normal Microbrewed Beer | 42,426 | 46,668 | 51,335 |
Domestic Beer | 39,775 | 43,752 | 48,127 |
Other | 0 | 0 | 0 |
Total Unit Sales | 132,583 | 145,839 | 160,423 |
Unit Prices | Year 1 | Year 2 | Year 3 |
Specialty Microbrewed Beer | $3.25 | $3.25 | $3.50 |
Normal Microbrewed Beer | $3.00 | $3.00 | $3.25 |
Domestic Beer | $2.50 | $2.50 | $2.75 |
Other | $0.00 | $0.00 | $0.00 |
Sales | |||
Specialty Microbrewed Beer | $163,739 | $180,112 | $213,364 |
Normal Microbrewed Beer | $127,279 | $140,004 | $166,839 |
Domestic Beer | $99,437 | $109,380 | $132,349 |
Other | $0 | $0 | $0 |
Total Sales | $390,456 | $429,496 | $512,552 |
Direct Unit Costs | Year 1 | Year 2 | Year 3 |
Specialty Microbrewed Beer | $0.81 | $0.81 | $0.86 |
Normal Microbrewed Beer | $0.65 | $0.65 | $0.70 |
Domestic Beer | $0.48 | $0.48 | $0.53 |
Other | $0.00 | $0.00 | $0.00 |
Direct Cost of Sales | |||
Specialty Microbrewed Beer | $40,809 | $44,889 | $52,426 |
Normal Microbrewed Beer | $27,577 | $30,334 | $35,935 |
Domestic Beer | $19,092 | $21,001 | $25,507 |
Other | $0 | $0 | $0 |
Subtotal Direct Cost of Sales | $87,478 | $96,225 | $113,868 |
The Bottlecap’s management team has established some basic milestones to keep the business plan priorities in place. Responsibility for implementation falls on the shoulders of Tyler Vogel and Dashiell Lavine. The Milestones table below will be updated as the year progresses using the actual tables. New milestones will be added as the first year of operations commences.
Milestones | |||||
Milestone | Start Date | End Date | Budget | Manager | Department |
Business Plan | 5/1/2001 | 5/30/2001 | $1,000 | Tyler Vogel and Dashiell Lavine | Admin |
Secure Start-up Funding | 6/15/2001 | 7/1/2001 | $1,000 | Tyler Vogel and Dashiell Lavine | Admin |
Site Selection | 7/1/2001 | 7/15/2001 | $1,000 | Tyler Vogel and Dashiell Lavine | Admin |
Architect Designs | 8/1/2001 | 9/1/2001 | $1,000 | Tyler Vogel and Dashiell Lavine | Admin |
Designer Proposal | 8/1/2001 | 9/15/2001 | $1,000 | Tyler Vogel and Dashiell Lavine | Admin |
Technology Design | 8/1/2001 | 9/15/2001 | $1,000 | Tyler Vogel and Dashiell Lavine | Admin |
Year 1 Plan | 9/1/2001 | 10/5/2001 | $1,000 | Tyler Vogel and Dashiell Lavine | Admin |
Personnel Plan | 10/1/2001 | 10/10/2001 | $1,000 | Tyler Vogel and Dashiell Lavine | Admin |
Accounting Plan | 10/1/2001 | 10/5/2001 | $1,000 | Tyler Vogel and Dashiell Lavine | Admin |
Licensing | 12/1/2001 | 12/15/2001 | $1,000 | Tyler Vogel and Dashiell Lavine | Admin |
Totals | $10,000 |
The Bottlecap is owned and operated by Dashiell Lavine and Tyler Vogel. The company, being small in nature, requires a simple organizational structure. Implementation of this organizational form calls for the owners and the one manager to make all of the major management decisions in addition to monitoring all other business activities.
Specific details are omitted in this sample plan. Biographies and resumes have not been included for privacy purposes.
The staff will consist of six part-time employees working twenty hours a week at $6.50 per hour. In addition, a manager who oversees daily operations will be employed to work forty hours a week at $10.00 per hour. Dashiell Lavine and Tyler Vogel will help with management decisions and will run the back end of the business, which includes the website and administrative duties. Two of the private investors, Bob Adler and Joe Smith, will not be included in management decisions. This will allow disputes to be solved with less hassle. Because of these characteristics, there are fewer coordination problems seen at The Bottlecap than are common within larger organizational chains. This strategy will enable The Bottlecap to react quickly to changes in the market.
Personnel Plan | |||
Year 1 | Year 2 | Year 3 | |
Production Personnel | |||
Manager | $19,680 | $19,980 | $20,664 |
Part-Time Employee 1 | $6,396 | $6,596 | $6,796 |
Part-Time Employee 2 | $6,396 | $6,596 | $6,796 |
Part-Time Employee 3 | $6,396 | $6,596 | $6,796 |
Part-Time Employee 4 | $6,396 | $6,596 | $6,796 |
Part-Time Employee 5 | $6,396 | $6,596 | $6,796 |
Part-Time Employee 6 | $6,396 | $6,596 | $6,796 |
Other | $0 | $6,596 | $6,796 |
Subtotal | $58,056 | $66,152 | $68,236 |
Sales and Marketing Personnel | |||
Name or title | $0 | $0 | $0 |
Other | $0 | $0 | $0 |
Subtotal | $0 | $0 | $0 |
General and Administrative Personnel | |||
Dashiell Lavine (Part-Owner) | $24,000 | $25,000 | $26,000 |
Tyler Vogel (Part-Owner) | $24,000 | $25,000 | $26,000 |
Other | $0 | $0 | $0 |
Subtotal | $48,000 | $50,000 | $52,000 |
Other Personnel | |||
Name or title | $0 | $0 | $0 |
Other | $0 | $0 | $0 |
Subtotal | $0 | $0 | $0 |
Total People | 0 | 0 | 0 |
Total Payroll | $106,056 | $116,152 | $120,236 |
The following section will lay out the general financial plan including our break-even analysis, profit and loss, cash flow, general assumptions, the balance sheet, and the business ratios.
The following table summarizes important assumptions necessary for good financial planning.
General Assumptions | |||
Year 1 | Year 2 | Year 3 | |
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 10.00% | 10.00% | 10.00% |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% |
Tax Rate | 25.42% | 25.00% | 25.42% |
Other | 0 | 0 | 0 |
The following table and chart summarize our break-even analysis. To break even we must sell at least 5,300 beers based upon the per unit cost. Therefore, customer traffic will become a big factor when it comes to the success of The Bottlecap.
Break-even Analysis | |
Monthly Units Break-even | 5,335 |
Monthly Revenue Break-even | $15,713 |
Assumptions: | |
Average Per-Unit Revenue | $2.94 |
Average Per-Unit Variable Cost | $0.66 |
Estimated Monthly Fixed Cost | $12,192 |
The following chart compares five key indicators in regards to how much they change over the course of the first three years of plan implementation.
One of the keys to success with a beer tavern such as The Bottlecap is the gross margin because of the low cost of buying beer in bulk. The profit-per-unit becomes very important because of the relatively high costs associated with running such an establishment.
Pro Forma Profit and Loss | |||
Year 1 | Year 2 | Year 3 | |
Sales | $390,456 | $429,496 | $512,552 |
Direct Cost of Sales | $87,478 | $96,225 | $113,868 |
Production Payroll | $58,056 | $66,152 | $68,236 |
Other | $24,000 | $30,000 | $40,000 |
Total Cost of Sales | $169,534 | $192,377 | $222,104 |
Gross Margin | $220,922 | $237,119 | $290,447 |
Gross Margin % | 56.58% | 55.21% | 56.67% |
Operating Expenses | |||
Sales and Marketing Expenses | |||
Sales and Marketing Payroll | $0 | $0 | $0 |
Advertising/Promotion | $39,000 | $50,000 | $75,000 |
Miscellaneous | $6,000 | $9,000 | $12,000 |
Total Sales and Marketing Expenses | $45,000 | $59,000 | $87,000 |
Sales and Marketing % | 11.52% | 13.74% | 16.97% |
General and Administrative Expenses | |||
General and Administrative Payroll | $48,000 | $50,000 | $52,000 |
Sales and Marketing and Other Expenses | $0 | $0 | $0 |
Depreciation | $0 | $0 | $0 |
Leased Equipment | $0 | $0 | $0 |
Utilities | $9,000 | $11,000 | $12,000 |
Insurance | $8,400 | $9,500 | $11,000 |
Rent | $18,000 | $12,000 | $12,000 |
Payroll Taxes | $15,908 | $17,423 | $18,035 |
Other General and Administrative Expenses | $0 | $0 | $0 |
Total General and Administrative Expenses | $99,308 | $99,923 | $105,035 |
General and Administrative % | 25.43% | 23.27% | 20.49% |
Other Expenses: | |||
Other Payroll | $0 | $0 | $0 |
Consultants | $0 | $0 | $0 |
Contract/Consultants | $2,000 | $0 | $0 |
Total Other Expenses | $2,000 | $0 | $0 |
Other % | 0.51% | 0.00% | 0.00% |
Total Operating Expenses | $146,308 | $158,923 | $192,035 |
Profit Before Interest and Taxes | $74,613 | $78,196 | $98,412 |
EBITDA | $74,613 | $78,196 | $98,412 |
Interest Expense | $75 | $0 | $0 |
Taxes Incurred | $18,262 | $19,549 | $25,013 |
Net Profit | $56,276 | $58,647 | $73,399 |
Net Profit/Sales | 14.41% | 13.65% | 14.32% |
The following chart and table explain the key elements of the pro forma cash flow.
Pro Forma Cash Flow | |||
Year 1 | Year 2 | Year 3 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $390,456 | $429,496 | $512,552 |
Subtotal Cash from Operations | $390,456 | $429,496 | $512,552 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $2,000 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $3,000 | $0 | $0 |
Subtotal Cash Received | $395,456 | $429,496 | $512,552 |
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $106,056 | $116,152 | $120,236 |
Bill Payments | $212,551 | $262,072 | $316,120 |
Subtotal Spent on Operations | $318,607 | $378,224 | $436,356 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $2,000 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
Purchase Other Current Assets | $50,000 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $370,607 | $378,224 | $436,356 |
Net Cash Flow | $24,849 | $51,272 | $76,195 |
Cash Balance | $32,769 | $84,040 | $160,236 |
The table below is the complete balance sheet which includes all assets, liabilities, and capital.
Pro Forma Balance Sheet | |||
Year 1 | Year 2 | Year 3 | |
Assets | |||
Current Assets | |||
Cash | $32,769 | $84,040 | $160,236 |
Inventory | $12,839 | $14,122 | $16,712 |
Other Current Assets | $50,000 | $50,000 | $50,000 |
Total Current Assets | $95,607 | $148,163 | $226,947 |
Long-term Assets | |||
Long-term Assets | $0 | $0 | $0 |
Accumulated Depreciation | $0 | $0 | $0 |
Total Long-term Assets | $0 | $0 | $0 |
Total Assets | $95,607 | $148,163 | $226,947 |
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $27,131 | $21,039 | $26,425 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
Subtotal Current Liabilities | $27,131 | $21,039 | $26,425 |
Long-term Liabilities | $0 | $0 | $0 |
Total Liabilities | $27,131 | $21,039 | $26,425 |
Paid-in Capital | $78,000 | $78,000 | $78,000 |
Retained Earnings | ($65,800) | ($9,524) | $49,123 |
Earnings | $56,276 | $58,647 | $73,399 |
Total Capital | $68,476 | $127,123 | $200,522 |
Total Liabilities and Capital | $95,607 | $148,163 | $226,947 |
Net Worth | $68,476 | $127,123 | $200,522 |
The Ratios table shows important ratios for The Bottlecap. These ratios are derived from the Standard Industry Classification (SIC) Index, code 5813.
Ratio Analysis | ||||
Year 1 | Year 2 | Year 3 | Industry Profile | |
Sales Growth | 0.00% | 10.00% | 19.34% | 1.90% |
Percent of Total Assets | ||||
Inventory | 13.43% | 9.53% | 7.36% | 3.10% |
Other Current Assets | 52.30% | 33.75% | 22.03% | 44.60% |
Total Current Assets | 100.00% | 100.00% | 100.00% | 52.30% |
Long-term Assets | 0.00% | 0.00% | 0.00% | 47.70% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 28.38% | 14.20% | 11.64% | 28.20% |
Long-term Liabilities | 0.00% | 0.00% | 0.00% | 23.10% |
Total Liabilities | 28.38% | 14.20% | 11.64% | 51.30% |
Net Worth | 71.62% | 85.80% | 88.36% | 48.70% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 56.58% | 55.21% | 56.67% | 42.30% |
Selling, General & Administrative Expenses | 42.26% | 41.55% | 42.27% | 23.40% |
Advertising Expenses | 9.99% | 11.64% | 14.63% | 2.40% |
Profit Before Interest and Taxes | 19.11% | 18.21% | 19.20% | 2.80% |
Main Ratios | ||||
Current | 3.52 | 7.04 | 8.59 | 1.14 |
Quick | 3.05 | 6.37 | 7.96 | 0.74 |
Total Debt to Total Assets | 28.38% | 14.20% | 11.64% | 51.30% |
Pre-tax Return on Net Worth | 108.85% | 61.51% | 49.08% | 5.20% |
Pre-tax Return on Assets | 77.96% | 52.78% | 43.36% | 10.60% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | 14.41% | 13.65% | 14.32% | n.a |
Return on Equity | 82.18% | 46.13% | 36.60% | n.a |
Activity Ratios | ||||
Inventory Turnover | 10.91 | 7.14 | 7.39 | n.a |
Accounts Payable Turnover | 8.83 | 12.17 | 12.17 | n.a |
Payment Days | 27 | 34 | 27 | n.a |
Total Asset Turnover | 4.08 | 2.90 | 2.26 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 0.40 | 0.17 | 0.13 | n.a |
Current Liab. to Liab. | 1.00 | 1.00 | 1.00 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $68,476 | $127,123 | $200,522 | n.a |
Interest Coverage | 994.84 | 0.00 | 0.00 | n.a |
Additional Ratios | ||||
Assets to Sales | 0.24 | 0.34 | 0.44 | n.a |
Current Debt/Total Assets | 28% | 14% | 12% | n.a |
Acid Test | 3.05 | 6.37 | 7.96 | n.a |
Sales/Net Worth | 5.70 | 3.38 | 2.56 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
Sales Forecast | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Unit Sales | |||||||||||||
Specialty Microbrewed Beer | 0% | 2,356 | 2,592 | 2,851 | 3,136 | 3,449 | 3,794 | 4,174 | 4,591 | 5,050 | 5,555 | 6,111 | 6,722 |
Normal Microbrewed Beer | 0% | 1,984 | 2,182 | 2,401 | 2,641 | 2,905 | 3,195 | 3,515 | 3,866 | 4,253 | 4,678 | 5,146 | 5,661 |
Domestic Beer | 0% | 1,860 | 2,046 | 2,251 | 2,476 | 2,723 | 2,996 | 3,295 | 3,625 | 3,987 | 4,386 | 4,824 | 5,307 |
Other | 0% | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Total Unit Sales | 6,200 | 6,820 | 7,502 | 8,252 | 9,077 | 9,985 | 10,984 | 12,082 | 13,290 | 14,619 | 16,081 | 17,689 | |
Unit Prices | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Specialty Microbrewed Beer | $3.25 | $3.25 | $3.25 | $3.25 | $3.25 | $3.25 | $3.25 | $3.25 | $3.25 | $3.25 | $3.25 | $3.25 | |
Normal Microbrewed Beer | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | |
Domestic Beer | $2.50 | $2.50 | $2.50 | $2.50 | $2.50 | $2.50 | $2.50 | $2.50 | $2.50 | $2.50 | $2.50 | $2.50 | |
Other | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
Sales | |||||||||||||
Specialty Microbrewed Beer | $7,657 | $8,423 | $9,265 | $10,191 | $11,211 | $12,332 | $13,565 | $14,921 | $16,413 | $18,055 | $19,860 | $21,846 | |
Normal Microbrewed Beer | $5,952 | $6,547 | $7,202 | $7,922 | $8,714 | $9,586 | $10,544 | $11,599 | $12,759 | $14,035 | $15,438 | $16,982 | |
Domestic Beer | $4,650 | $5,115 | $5,627 | $6,189 | $6,808 | $7,489 | $8,238 | $9,062 | $9,968 | $10,964 | $12,061 | $13,267 | |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Sales | $18,259 | $20,085 | $22,093 | $24,303 | $26,733 | $29,406 | $32,347 | $35,582 | $39,140 | $43,054 | $47,359 | $52,095 | |
Direct Unit Costs | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Specialty Microbrewed Beer | 0.00% | $0.81 | $0.81 | $0.81 | $0.81 | $0.81 | $0.81 | $0.81 | $0.81 | $0.81 | $0.81 | $0.81 | $0.81 |
Normal Microbrewed Beer | 0.00% | $0.65 | $0.65 | $0.65 | $0.65 | $0.65 | $0.65 | $0.65 | $0.65 | $0.65 | $0.65 | $0.65 | $0.65 |
Domestic Beer | 0.00% | $0.48 | $0.48 | $0.48 | $0.48 | $0.48 | $0.48 | $0.48 | $0.48 | $0.48 | $0.48 | $0.48 | $0.48 |
Other | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Direct Cost of Sales | |||||||||||||
Specialty Microbrewed Beer | $1,908 | $2,099 | $2,309 | $2,540 | $2,794 | $3,073 | $3,381 | $3,719 | $4,091 | $4,500 | $4,950 | $5,445 | |
Normal Microbrewed Beer | $1,290 | $1,419 | $1,560 | $1,716 | $1,888 | $2,077 | $2,285 | $2,513 | $2,764 | $3,041 | $3,345 | $3,679 | |
Domestic Beer | $893 | $982 | $1,080 | $1,188 | $1,307 | $1,438 | $1,582 | $1,740 | $1,914 | $2,105 | $2,316 | $2,547 | |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Direct Cost of Sales | $4,091 | $4,500 | $4,950 | $5,445 | $5,989 | $6,588 | $7,247 | $7,972 | $8,769 | $9,646 | $10,610 | $11,671 |
Personnel Plan | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Production Personnel | |||||||||||||
Manager | $1,640 | $1,640 | $1,640 | $1,640 | $1,640 | $1,640 | $1,640 | $1,640 | $1,640 | $1,640 | $1,640 | $1,640 | |
Part-Time Employee 1 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | |
Part-Time Employee 2 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | |
Part-Time Employee 3 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | |
Part-Time Employee 4 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | |
Part-Time Employee 5 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | |
Part-Time Employee 6 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | $533 | |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal | $4,838 | $4,838 | $4,838 | $4,838 | $4,838 | $4,838 | $4,838 | $4,838 | $4,838 | $4,838 | $4,838 | $4,838 | |
Sales and Marketing Personnel | |||||||||||||
Name or title | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
General and Administrative Personnel | |||||||||||||
Dashiell Lavine (Part-Owner) | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | |
Tyler Vogel (Part-Owner) | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | |
Other Personnel | |||||||||||||
Name or title | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total People | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Total Payroll | $8,838 | $8,838 | $8,838 | $8,838 | $8,838 | $8,838 | $8,838 | $8,838 | $8,838 | $8,838 | $8,838 | $8,838 |
General Assumptions | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Current Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Tax Rate | 30.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pro Forma Profit and Loss | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | $18,259 | $20,085 | $22,093 | $24,303 | $26,733 | $29,406 | $32,347 | $35,582 | $39,140 | $43,054 | $47,359 | $52,095 | |
Direct Cost of Sales | $4,091 | $4,500 | $4,950 | $5,445 | $5,989 | $6,588 | $7,247 | $7,972 | $8,769 | $9,646 | $10,610 | $11,671 | |
Production Payroll | $4,838 | $4,838 | $4,838 | $4,838 | $4,838 | $4,838 | $4,838 | $4,838 | $4,838 | $4,838 | $4,838 | $4,838 | |
Other | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | |
Total Cost of Sales | $10,929 | $11,338 | $11,788 | $12,283 | $12,827 | $13,426 | $14,085 | $14,810 | $15,607 | $16,484 | $17,448 | $18,509 | |
Gross Margin | $7,330 | $8,747 | $10,306 | $12,020 | $13,906 | $15,980 | $18,262 | $20,772 | $23,533 | $26,570 | $29,911 | $33,586 | |
Gross Margin % | 40.15% | 43.55% | 46.65% | 49.46% | 52.02% | 54.34% | 56.46% | 58.38% | 60.13% | 61.71% | 63.16% | 64.47% | |
Operating Expenses | |||||||||||||
Sales and Marketing Expenses | |||||||||||||
Sales and Marketing Payroll | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Advertising/Promotion | $5,000 | $4,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | |
Miscellaneous | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | |
Total Sales and Marketing Expenses | $5,500 | $4,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | |
Sales and Marketing % | 30.12% | 22.40% | 15.84% | 14.40% | 13.09% | 11.90% | 10.82% | 9.84% | 8.94% | 8.13% | 7.39% | 6.72% | |
General and Administrative Expenses | |||||||||||||
General and Administrative Payroll | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | |
Sales and Marketing and Other Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Leased Equipment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Utilities | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | |
Insurance | $700 | $700 | $700 | $700 | $700 | $700 | $700 | $700 | $700 | $700 | $700 | $700 | |
Rent | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | |
Payroll Taxes | 15% | $1,326 | $1,326 | $1,326 | $1,326 | $1,326 | $1,326 | $1,326 | $1,326 | $1,326 | $1,326 | $1,326 | $1,326 |
Other General and Administrative Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total General and Administrative Expenses | $8,276 | $8,276 | $8,276 | $8,276 | $8,276 | $8,276 | $8,276 | $8,276 | $8,276 | $8,276 | $8,276 | $8,276 | |
General and Administrative % | 45.32% | 41.20% | 37.46% | 34.05% | 30.96% | 28.14% | 25.58% | 23.26% | 21.14% | 19.22% | 17.47% | 15.89% | |
Other Expenses: | |||||||||||||
Other Payroll | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Consultants | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Contract/Consultants | $1,000 | $1,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Other Expenses | $1,000 | $1,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other % | 5.48% | 4.98% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
Total Operating Expenses | $14,776 | $13,776 | $11,776 | $11,776 | $11,776 | $11,776 | $11,776 | $11,776 | $11,776 | $11,776 | $11,776 | $11,776 | |
Profit Before Interest and Taxes | ($7,445) | ($5,029) | ($1,470) | $244 | $2,130 | $4,204 | $6,486 | $8,996 | $11,757 | $14,794 | $18,135 | $21,810 | |
EBITDA | ($7,445) | ($5,029) | ($1,470) | $244 | $2,130 | $4,204 | $6,486 | $8,996 | $11,757 | $14,794 | $18,135 | $21,810 | |
Interest Expense | $0 | $0 | $0 | $0 | $17 | $17 | $17 | $8 | $8 | $8 | $0 | $0 | |
Taxes Incurred | ($2,234) | ($1,257) | ($368) | $61 | $528 | $1,047 | $1,617 | $2,247 | $2,937 | $3,696 | $4,534 | $5,452 | |
Net Profit | ($5,212) | ($3,771) | ($1,103) | $183 | $1,585 | $3,141 | $4,852 | $6,741 | $8,812 | $11,089 | $13,601 | $16,357 | |
Net Profit/Sales | -28.54% | -18.78% | -4.99% | 0.75% | 5.93% | 10.68% | 15.00% | 18.94% | 22.51% | 25.76% | 28.72% | 31.40% |
Pro Forma Cash Flow | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $18,259 | $20,085 | $22,093 | $24,303 | $26,733 | $29,406 | $32,347 | $35,582 | $39,140 | $43,054 | $47,359 | $52,095 | |
Subtotal Cash from Operations | $18,259 | $20,085 | $22,093 | $24,303 | $26,733 | $29,406 | $32,347 | $35,582 | $39,140 | $43,054 | $47,359 | $52,095 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 | $0 | $2,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $0 | $0 | $0 | $3,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $18,259 | $20,085 | $22,093 | $27,303 | $28,733 | $29,406 | $32,347 | $35,582 | $39,140 | $43,054 | $47,359 | $52,095 | |
Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Expenditures from Operations | |||||||||||||
Cash Spending | $8,838 | $8,838 | $8,838 | $8,838 | $8,838 | $8,838 | $8,838 | $8,838 | $8,838 | $8,838 | $8,838 | $8,838 | |
Bill Payments | $595 | $17,773 | $15,448 | $14,885 | $15,862 | $16,948 | $18,130 | $19,429 | $20,852 | $22,425 | $24,154 | $26,050 | |
Subtotal Spent on Operations | $9,433 | $26,611 | $24,286 | $23,723 | $24,700 | $25,786 | $26,968 | $28,267 | $29,690 | $31,263 | $32,992 | $34,888 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1,000 | $0 | $0 | $1,000 | $0 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Other Current Assets | $5,000 | $0 | $0 | $5,000 | $0 | $0 | $0 | $20,000 | $0 | $0 | $20,000 | $0 | |
Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $14,433 | $26,611 | $24,286 | $28,723 | $24,700 | $25,786 | $26,968 | $49,267 | $29,690 | $31,263 | $53,992 | $34,888 | |
Net Cash Flow | $3,826 | ($6,526) | ($2,192) | ($1,421) | $4,033 | $3,620 | $5,379 | ($13,685) | $9,450 | $11,791 | ($6,633) | $17,207 | |
Cash Balance | $11,746 | $5,220 | $3,027 | $1,606 | $5,639 | $9,260 | $14,639 | $954 | $10,403 | $22,195 | $15,562 | $32,769 |
Pro Forma Balance Sheet | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $7,920 | $11,746 | $5,220 | $3,027 | $1,606 | $5,639 | $9,260 | $14,639 | $954 | $10,403 | $22,195 | $15,562 | $32,769 |
Inventory | $1,280 | $4,500 | $4,950 | $5,445 | $5,989 | $6,588 | $7,247 | $7,972 | $8,769 | $9,646 | $10,610 | $11,671 | $12,839 |
Other Current Assets | $0 | $5,000 | $5,000 | $5,000 | $10,000 | $10,000 | $10,000 | $10,000 | $30,000 | $30,000 | $30,000 | $50,000 | $50,000 |
Total Current Assets | $9,200 | $21,246 | $15,169 | $13,472 | $17,596 | $22,228 | $26,507 | $32,611 | $39,723 | $50,049 | $62,805 | $77,233 | $95,607 |
Long-term Assets | |||||||||||||
Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Accumulated Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Assets | $9,200 | $21,246 | $15,169 | $13,472 | $17,596 | $22,228 | $26,507 | $32,611 | $39,723 | $50,049 | $62,805 | $77,233 | $95,607 |
Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Current Liabilities | |||||||||||||
Accounts Payable | $0 | $17,258 | $14,953 | $14,358 | $15,299 | $16,345 | $17,483 | $18,735 | $20,107 | $21,621 | $23,288 | $25,115 | $27,131 |
Current Borrowing | $0 | $0 | $0 | $0 | $0 | $2,000 | $2,000 | $2,000 | $1,000 | $1,000 | $1,000 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $0 | $17,258 | $14,953 | $14,358 | $15,299 | $18,345 | $19,483 | $20,735 | $21,107 | $22,621 | $24,288 | $25,115 | $27,131 |
Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Liabilities | $0 | $17,258 | $14,953 | $14,358 | $15,299 | $18,345 | $19,483 | $20,735 | $21,107 | $22,621 | $24,288 | $25,115 | $27,131 |
Paid-in Capital | $75,000 | $75,000 | $75,000 | $75,000 | $78,000 | $78,000 | $78,000 | $78,000 | $78,000 | $78,000 | $78,000 | $78,000 | $78,000 |
Retained Earnings | ($65,800) | ($65,800) | ($65,800) | ($65,800) | ($65,800) | ($65,800) | ($65,800) | ($65,800) | ($65,800) | ($65,800) | ($65,800) | ($65,800) | ($65,800) |
Earnings | $0 | ($5,212) | ($8,983) | ($10,086) | ($9,903) | ($8,318) | ($5,177) | ($325) | $6,416 | $15,228 | $26,317 | $39,919 | $56,276 |
Total Capital | $9,200 | $3,988 | $217 | ($886) | $2,297 | $3,882 | $7,023 | $11,875 | $18,616 | $27,428 | $38,517 | $52,119 | $68,476 |
Total Liabilities and Capital | $9,200 | $21,246 | $15,169 | $13,472 | $17,596 | $22,228 | $26,507 | $32,611 | $39,723 | $50,049 | $62,805 | $77,233 | $95,607 |
Net Worth | $9,200 | $3,988 | $217 | ($886) | $2,297 | $3,882 | $7,023 | $11,875 | $18,616 | $27,428 | $38,517 | $52,119 | $68,476 |
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People love going to pubs because they are cozy, fun places where you can have a good time with friends. It's a place where people laugh and make memories together. But running a pub is not just about having a good time; it's a bit complicated. You need to plan and think carefully about how to make it work.
This is where comes the need for a well-structured pub business plan. This plan serves as the cornerstone of your pub's success, helping you navigate the intricate nuances of the hospitality industry. From defining your concept to marketing strategies and financial projections, it's the roadmap to turn your pub dream into a flourishing reality.
A pub business plan is crucial for several reasons:
A pub business plan is your blueprint for success, providing a comprehensive framework to launch, operate, and grow a thriving pub business while minimizing risks and maximizing opportunities.
Here as your trusted companions throughout this journey we'll introduce you to a valuable resource: editable pub business plan templates. These templates are carefully crafted to make the planning process a breeze.
They're not just tools; they're your partners in creating a customized roadmap that perfectly aligns with your unique vision.
So, let's get into the captivating world of pub business, where we'll find the indispensable need for a robust plan. With these templates at your disposal, we'll explore how they can be the guiding light, leading you toward a triumphant journey in pub ownership.
As we raise our glasses to this exciting venture, rest assured, you're well-equipped to get on the path to pub ownership success.
The cover slide of our Pub Business Plan PowerPoint presentation gives you ample space for your company name and a fitting image. This slide sets the tone for an engaging exploration of your pub venture.
It encapsulates the essence of your pub business, hinting at the vibrant atmosphere, delectable offerings, and warm hospitality that await your patrons.
This cover slide signifies the beginning of your business's story, a story that's about to unfold in a dynamic industry. With your vision and this presentation as your guide, you can stand out in the world of pub culture.
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This slide serves as the roadmap for our Pub Business Plan presentation, providing a concise overview of the key components covered in our strategy.
This Table of Contents provides a comprehensive preview of the journey for the pub business plan that encompasses every facet of our strategic vision.
This Executive Summary slide serves as the cornerstone, encapsulating the essence of your pub business mission and vision. Beyond the specific goals, it provides a panoramic view of the global pub industry, unveiling its key highlights and trends. We understand that success in this dynamic field requires not only a keen understanding of the market but also a steadfast commitment to your core principles.
This slide lets you present your business mission and vision along with the overview of your business plan. It includes key highlights of the market in addition to the mission and vision of the firm.
This pivotal slide in our pub business plan PowerPoint presentation offers a comprehensive snapshot of pub start-up venture. It presents vital organizational details that lay the foundation for the business journey. You can introduce your business name, which embodies your vision and brand identity, as well as the incorporation date, marking the official birth of your enterprise.
In this slide, you can succinctly describe the array of services that you’ll offer, giving your audience a taste of the pub experience that you aim to deliver. The quick pitch provides a concise, compelling snapshot of our business concept, setting the stage for deeper engagement.
Finally, the slide provides a clarity on what you aim to achieve in the competitive pub industry. This slide embodies the essence of your pub start-up, offering a clear and enticing introduction to your venture.
In this pivotal presentation of our pub business plan, we dive into the dynamic growth drivers that will showcase your establishment to success. Understanding these factors is essential for charting the course towards a thriving pub venture. And this is where our growth drivers slide will come into your assistance.
Additionally, the rising trend of night-life and mid-week parties shown in the slide presents a significant growth opportunity. This strategic planning slide will ensure that you capitalize on this trend, positioning yourselves as the go-to venue for mid-week revelry.
By meticulously analyzing and incorporating these growth drivers into your business strategy, you can make venture a beacon of success in the nightlife and entertainment sector.
This slide delves into the meticulous analysis of your target segment and provide a detailed insight into your buyer's persona. Success in the pub industry hinges on the understanding of where the products and services align within the market and where one can gain the strongest foothold among our customers.
This slide will help you provide a snapshot of your target group, backed by essential statistics, demographics, and psychographics that define your audience. You can explore their preferences, behaviors, and pain points to ensure that your offerings resonate deeply with their needs and desires.
This analysis forms the cornerstone of our pub business plan, enabling you to navigate the competitive landscape with precision, anticipate market trends, and position yourselves as the preferred choice among our target segment.
In our pub business plan presentation, this slide plays a pivotal role in understanding and optimizing the customer experience.
This sales funnel spans several crucial phases - awareness, consideration, conversion, and loyalty. With this slide, you can shine a spotlight on each step, that enables you to gauge the effectiveness of our sales process at every level.
By evaluating the client journey through this sales funnel, you can gain valuable insights into how well you are attracting, engaging, and retaining your patrons. It will help you pinpoint areas that require improvement and refine your strategies to ensure a seamless and satisfying experience for your customers.
Crafting a successful pub business plan is the foundation for a thriving venture in the hospitality industry. This blog helps you explore key strategies and insights to help you navigate the exciting yet challenging world of pub ownership.
But our commitment to your success doesn't end here. To empower business enthusiasts and entrepreneurs, we've provided editable business plan ppt templates that can be personalized to your specific needs. These templates are your toolkit to create a roadmap for your pub's success.
Our templates are here to guide you and help you draft a robust business plan. Your vision for a prosperous pub is now closer than ever, and we're excited to be a part of your successful journey. Cheers to your future success in the pub industry!
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#1. plan your business, #2. financial plan, #3. define your brand, #4. location, #5. open a business bank account & credit card, #6. form a legal entity, #7. get business insurance, #8. obtain necessary permits and licenses, the main objectives of a pub business plan, #1. executive summary, #2. company overview, #3. market analysis, #4. customer analysis, #5. describe your product or service, #6. describing your organization and management, #7. explain your funding request, #8. technology and taking payments, #9. develop a marketing and sales strategy, #10. appendix, final thought, is it profitable to open a pub, is opening a bar a good idea, is it hard to run a bar.
It’s an exciting initial step to decide to create a pub. When launching a new business, such as a pub, it is critical to have a good pub business plan. Business plans follow a tried and true formula, but if you’re opening a pub, you need to take a more specialized approach. Have you always dreamt about how to operate your own pub but aren’t sure how to begin? You’ve undoubtedly considered your idea and name, but perhaps you’re unclear about the ins and outs, such as how to secure funds and licenses. You are going to get answers to them in this article because we are going to talk about how to start a pub business, the 10 steps to take when writing a pub business plan, the template and the example.
Let’s kick off!
The following are ways by which you can start a pub business:
Make a plan for your pub’s business, entrepreneurial success requires a very good plan.
This includes researching the competition and the surrounding area. You’ll explain how you plan to make money with your pub in the pub business plan template. Create a blueprint for your company’s structure and vision. It will also assist you in mapping out the details of your company and uncovering some unknowns.
If necessary, seek finance for your pub business. If you don’t have enough money in your savings account to cover everything, you’ll need to look for outside help. This could be in the form of fundraising or a commercial loan . Show your pub business plan to potential investors or lenders to acquire the funds you require.
Your business brand is both what it stands for and how the general public perceives it. A strong brand will set your pub business apart from the competition. Advertise your new pub business thoroughly. You’ll need to work hard to market your new pub once it’s open. This could include handing out fliers or airing commercials on the radio and television. Cross-promotions with non-competing businesses could also be beneficial. You must spread the word about your company to customers.
A pub location can be rented or purchased. One of the most crucial elements to consider when opening a pub is the location. You’ll need to select a site with a lot of foot traffic and close proximity to neighbourhoods with lively nightlife .
Personal asset protection requires the use of distinct business banking and credit accounts.
Your personal assets (your home, car, and other valuables) are at risk when your personal and business accounts are intermingled. This is known as piercing your business veil in business law.
Learning how to build business credit can also help you secure credit cards and other financing in your company’s name (rather than your own), lower interest rates, and increase credit lines.
Create a legal business corporation to protect yourself from personal liability in the event that one of your customers files a lawsuit against you. To form a corporation or a limited liability business, you must file articles of incorporation or articles of organization with your state.
Forming a legal business entity such as an LLC or corporation protects you if your pub is been sued.
Get your pub covered with insurance. Failure to get required permissions and licenses can result in significant fines or possibly the closure of your pub business.
There are several insurance policies designed for various sorts of organizations with various risks. If you’re not sure what kinds of dangers your company might face, start with General Liability Insurance. This is the most frequent type of coverage required by small businesses, so it’s a perfect way to start.
For your pub, obtain the essential liquor license and health department permission. You’ll need the required approvals from your local government before you can serve any alcohol.
Insurance, like licenses and permits, is required for your business to operate safely and legally. In the case of a covered loss, business insurance protects your pub business’s financial well-being.
Businesses in the hospitality industry, whether it’s country pubs or city-centre wine bars, are often looking for fresh marketing methods to help them grow. Following the enormous challenges of recent years, it’s more crucial than ever to develop new ways to boost foot traffic and ensure repeat business in this highly competitive industry.
A pub business plan is a guide to the founders and key employees focused on their abilities and knowledge. An action plan laying out how you’ll turn your pub from a concept to a thriving business.
Imagine the people who will be reading your pub business plan to begin. It will almost certainly be potential business partners, investors, and lenders. These parties are looking for proof that a company is worth their time and money, and it is your business plan’s responsibility to provide that proof. It will be reviewed by you in the future when you assess your pub’s current success and plan your next actions. You’re ready to begin writing with all of these people’s interests in mind.
You’ve got the drive and the vision; now it’s time to create a business plan.
The following are the objectives of writing a pub business plan:
To get all of the funds you’ll need to open your pub, you’ll have to persuade lenders to fund a portion of it. This is no simple feat in an uncertain economic context.
They use your pub business plan to demonstrate the pub’s viability as well as your own credibility as an entrepreneur. Investors will evaluate whether their own beliefs and objectives coincide with those of your enterprise after reading the business plan for a bar, and therefore whether they’re willing to supply financial support.
A pub business plan is written for more than just potential investors. It is, above all, addressed to you. By setting up the strategy, you’re obligated to fully comprehend each part of your project in as realistic a manner as possible.
Spend as much time as possible reading through some examples of pub business plan templates before you begin drafting your business plan for your pub. Not only will this give you a solid notion of what you’re going for, but it will also show you the various sections and terminology that different entrepreneurs use to write about themselves and their future ambitions.
The executive summary summarizes your pub business plan’s major ideas. Before determining whether or not to read more, investors and lenders look at the first page of the executive summary. Therefore, write out the most important elements right away. Simply and briefly describe your pub. The executive summary focuses on the value proposition, also known as the unique selling point, which is an extended slogan directed at customers, investors, and employees. We advise you to consult a professional to help you with giving your pub business plan a fantastic executive summary that will attract your investor or lender.
The firm description provides a more detailed insight into your pub. It gives a broader picture of everything your reader needs to know, including your concept, location, and target market. After reading, you should know who, what, and where you are, and also why you’re doing it. Emphasize the special skills you mentioned in the executive summary. If you have a signature drink or an established business model, mention it here.
Within your pub business plan, your company overview contains three elements:
These elements provide insight into the overall perspective of your business plan, allowing investors to understand the purpose of your organization and thus the objectives.
The next stage is to define your ideal potential customer as well as the size of your market, both present and potential. The market analysis examines your market and how your pub business can compete. The market refers to the specific niche into which your pub fits, rather than the entire pub.
Put your knowledge of the economy, industry, target market, and associated trends and developments into this section. This is also where you would add competition research, such as success factors and how you will position and value your product in comparison to competitors.
You’ll demonstrate competence and build confidence by being specific. It can be a red flag for investors if your target market is too large.
Because many purchasing decisions are based on emotion and identity, it’s critical to name drinks and write descriptions that cater to your target customer’s preferences. Take the time to think about how the language and topics you employ will affect them.
You need to make some findings about your targeted customer. Here are some questions you can use during your research:
Detail your offerings and any market differentiators, such as trademarks or patents, in the product or service section. Explain how your product or service benefits your customers, especially in comparison to competitors’ offerings. What you have on your menu attracts customers (and investors). From chips, beers, and drinks to mixers, garnishes, and other add-ons, list everything on your menu with descriptions and photographs.
Because many buying choices are driven by emotion and identity, it’s critical to name drinks and write descriptions that cater to your target audience’s preferences. Take the time to think about how the language and topics you employ will affect them.
Describe your legal form (sole proprietorship, partnership, or corporation) and introduce yourself and your management team or advisors, if applicable, in this section. Your business is only as good as the people that manage it. Describe your team members and explain why they are qualified to either convert your business ideas into success or help it expand. This section of your pub business plan should highlight your team’s skills and qualifications throughout.
This section is where you’ll outline your financial requirements and the anticipated use of the money over the next five years if you’re using your pub business plan to ask for assistance. You should outline your financial request plan in the financial request area. Are you self-funding or seeking finance for your pub? Are you considering a small business loan, and if so, for how long?
The financial plan should also include the amount of revenue required to break even. Create a financial analysis that covers your profit and loss account, cash flow requirements, and balance sheet management.
Another aspect of your pub business plan to think about is the technology you’ll need to keep things running properly. You’ll almost certainly require software to manage your inventory and workforce, as well as simple hardware to accept consumer transactions.
Your pub marketing strategy or plan can spell the difference between selling so much that your pub business expands rapidly or obtaining no business at all. It is also a section that lays out your entire approach for attracting, maintaining, and acquiring customers.
Promotion of your pub business will be your primary focus in the bar industry. Customers will be enticed to spend money with you through the promotions you do. Customer retention, or how you persuade customers to return, is another crucial aspect of marketing. Growth strategies are a critical part of your pub business plan.
Here are some other marketing strategies you can use:
Without an awareness of how your pricing affects your profitability, it’s nearly impossible to open and manage a successful pub. When tracking how much you’re making back from what you’re buying in, the outflow cost is crucial.
Regulars will need incentives to return once your bar is open, and new customers will need to be enticed to try it out. You can do this through a variety of marketing channels, including email, social media, public relations, and sponsored advertisements. Many pubs provide things like guest bartending nights, happy hours, live music, and karaoke to keep business flowing.
Whether you like it or not, social media is a highly effective marketing tool for the pub business. Every pub should have a presence on social media. Social media allows you to engage directly with customers and establish your pub’s brand while also assisting them in finding basic information such as your opening hours and location.
Lastly, put together a well-organized appendix with whatever readers will need to enhance the details in your pub business plan.
The appendix is being used to give further information and any other important or required documents.
If you’re looking to develop a more modern business plan, we recommend you try Business Yield Consult. We are here as guidance to help you create the perfect pub business plan. On the other hand, you can also purchase an already-made pub business plan template at a cost-effective rate to save yourself the stress of writing one from scratch.
Yes, it is possible to make a profit by opening a bar. A successful bar’s average net profit is higher than the stock market’s average annual return.
Being the owner and operator of a pub may be quite gratifying. Not only will you be able to give your customers a location to gather and enjoy their time, but you’ll also be able to make a lot of money. In the liquor industry, there is a significant markup.
The issue is that it isn’t that straightforward. It’s difficult to open a bar, and it’s even more difficult to run a successful bar. A frightening number of people believe that just because a bar is properly stocked and the doors are open, it will produce tremendous profits if you can scrape together the cash to go in.
Being the owner and operator of a pub may be quite gratifying. Not only will you be able to give your customers a location to gather and enjoy their time, but you'll also be able to make a lot of money. In the liquor industry, there is a significant markup.
The issue is that it isn't that straightforward. It's difficult to open a bar, and it's even more difficult to run a successful bar. A frightening number of people believe that just because a bar is properly stocked and the doors are open, it will produce tremendous profits if you can scrape together the cash to go in.
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Business continuity plan: definition and why you need it.
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Last Updated on August 15, 2023 by Folakemi Adegbaju
by I.J. Karam | Dec 1, 2020 | Business Plans
Before you open a new pub, you must create a business plan. Getting funding from investors is next to impossible if your business plan is not compelling. However, that’s not the only reason why need a detailed pub business plan. Even if yours is a self-funded project, a business plan can serve as a reliable execution roadmap.
Crafting a professional pub business plan may look like a daunting task, but that’s not actually the case. Of course, you need to allot some time and conduct research to create a solid plan, but it is something that every entrepreneur can do, regardless of whether they have previously created a business plan or not. And obviously, you can count on our help, which will make things so much easier for you.
Before we get started, you might be interested to check out our Ready-made Pub Business Plan Template with pre-written text and automatic financials which you can easily customize and adapt to your own project, no financial expertise required .
In this post, we’ll walk you through all the key parts of a winning pub business plan , from crafting an impressive executing summary to creating a solid marketing plan.
Let’s dive right in.
While there’s no set-in-stone guideline, most experts agree that a good pub business plan mainly consists of the following sections:
Executive Summary Company Overview Customer Analysis Competitive Analysis Marketing Plan Operation Plan Management Plan Financial Plan
So what actually goes into each of these sections? Let’s find out…
Executive Summary
Each business plan must start with a well-written executive summary. All the same, it’s best to tackle this introductory section at the end.
Why? Glad you asked.
You see, an executive summary is considered as a compelling introduction and should summarize the key ideas of the other sections. Only then you stand a real chance to convince readers that your business plan will be worth their while. Once you have penned the other sections, it becomes easier to identify the key elements of each chapter and create an engaging summary.
Here are some tips to help you write a good executive summary:
Use a strong hook : Pique readers’ interest by showing how your business is relevant
Focus on the core strengths: Maybe your pub’s ambience is your strongest selling point or perhaps your selection of liquor and your diverse menu are unique or maybe your management team is one of the most qualified. Whatever your core strengths are, don’t forget to highlight them here.
Make only those claims that you can backup with facts: Don’t make claims for which you don’t have proof or have inadequate proof. A good executive summary is a credible one.
Here’s a sample Executive Summary for a pub business plan:
Business Name – The Single’s Bar
The Single’s Bar is a unique local bar house that aims to provide a warm and friendly space where singles can meet and mingle. The Single’s Bar is unlike your typical bar in the sense that it has a one-of-its-kind service named “thee structured conversation system”. Thanks to this service, singles can easily meet other singles and get to know them through meaningful conversation.
The bar offers a relaxed atmosphere that reduces inhibitions and inspires confidence. Research shows meeting likeminded people is not easy for singles aged between 25 and 45 years old. The Single’s Bar offers this group a great solution to the listed problem.
Conventional bars are hardly suitable for meaningful conversations since beyond the visual image of people sitting next to you, it is difficult to learn much about them and find commonalities, if any. Low lights and loud music that one finds in most bars are detrimental to having fruitful conversations.
The Single’s Bar is going to create a unique pub setting using a specific conversation structure: Singles will sit down at specific tables and talk about the highlighted topic of conversation, the aim of which is to gain insight into the other person, their perspectives and values.
Research shows the structured conversation system is highly successful as it significantly lowers uncertainty and ambiguity in the social scene. This in turn allows people to feel more comfortable which encourages them to have more meaningful conversations.
The Single’s Bar is expected to reach profitability by year three and earn substantial profits by year four.
The Single’s Bar founders, Margaret Fisher and Tony Fisher, have more than a decade’s experience in running a pub.
While there are two other bars in a mile radius, they are your traditional pubs, whereas The Single’s Bar will cater only to singles who want to meet other singles.
We need $200,000 to finance our lease costs, equipment, furniture, and renovations. Margaret and Tony Fisher will invest $50,000 in the business and the rest we plan to raise from an investor.
Company Overview
This is the section where you want to talk about your company and its finer details. To be specific, you should answer these pertinent questions here:
Who are the owners of the pub? What is your niche? What kinds of alcoholic drinks will you sell? What will be your menu? How many people will you hire to run your pub business?
Here’s a sample Company Overview
The Single’s Bars (mention your business’s location) is a unique local pub that provides a great meeting place for singles. Our bar aims to bring singles together by creating an environment allowing them to meet each other comfortably.
The Single’s Bar will sell the following:
Draft beer and in bottles: We serve alcohol for two main reasons. First, alcohol helps reduce inhibition, which in turn makes it easier for people to meet new people and interact with them in a relaxed manner. Second, draft beer helps generate good profits.
Cocktails and Spirits: We will also offer a wide variety of spirits including vodka, tequila, gin and other liquors. Our bartender will also prepare a panoply of cocktails to satisfy our customer’s needs and preferences.
Wines: Some customers prefer to drink wine and hence we will offer a good variety of red and white wines, perfect accompaniments for our tapas.
Coffee and Tea drinks: A cup of well-brewed coffee or tea is often linked with a good conversation.
An assortment of Tapas: We have added tapas in our menu because they are easy to make, taste great and customers just love them. Plus, tapas are a perfect fit for tables designed for multiple people sharing food.
Our bar’s unique value proposition is based on a conversation approach allowing singles to meet new people. Hence, in addition to a section for general customers, our pub features another larger section specifically dedicated for singles to come and meet new people.
In the singles section, we will have 5 tables . The topic of the conversation will be marked at the center of each table. We will have different types of topics each evening, some will be related to news, sports, music, and movies, while others will be more philosophical and intellectual.
The Single’s Bar Founders, Margaret and Tony Fisher, will be involved in the bar’s day to day management and operation. They will initially hire 8 staff members to help them run the pub smoothly.
Customer Analysis
Talk about your target audience in this section. Try to be as specific as you can. Here’s a sample customer analysis:
Customer Analysis Sample:
The Single’s Bar targets two different groups of customers: Single people and non-singles. Both of these groups are middle to upper class
The demographics of our target audiences — both singles and non-singles — are as follows:
Working Professionals: Since the underlying promise of The Single’s Bar is “meaningful conversations”, the majority of our customers are expected to be educated and working professionals who appreciate thought-provoking, meaningful conversations.
Annual income of more than $50,000: To a large extent, this is in correlation with the fact that our audience is mainly working professionals.
Age bracket is 25-45: The biggest group of singles that are looking for companionship are between 25 and 45 years old.
Competitive Analysis
In this section introduce your direct and indirect competitors. Also, talk about how your establishment stands out.
Here’s a sample competitive analysis:
The competition to The Single’s Bar comes from various sources:
Local Bars: The area where we are located has several bars. Some bars are more suited for meeting people than others, but none of them aim to bring singles together as we do.
Coffee shops: While coffee shops offer a convenient social setting where people can meet and mingle, they rarely organize any special activities with the aim to help singles meet other singles.
It is a good idea to list your main competitors in a table and cite their key strengths and weaknesses.
Our competitive advantage: Our direct competitors (local bars) and indirect ones (coffee shops) do not explicitly organize events that encourage singles to meet. Our pub has a competitive edge on this front since we have thoughtfully designed special activities that make it easier for like-minded singles to meet each other, and have meaningful conversations.
Marketing Plan
This is the section where you highlight your go to market strategy as well as show how you plan to win new customers and retain them.
Marketing & Promotion Strategy
The Single’s Bar will target people who live and work in its 10-mile radius. Our marketing and promotional strategy includes:
Direct Mail
The Single’s Bar will distribute flyers in the neighborhoods located in its vicinity. These flyers will offer not only general information about our bar’s concept but also special discounts and coupons.
Online Marketing
The Single’s Bar will come up with a sleek and user-friendly website that allows online bookings and live chat. We will also leverage the power of social media channels to spread the word about our new bar’s concept and engage with potential customers. From time to time we may run paid ad campaigns on social media to attract new customers and showcase the atmosphere in our venue.
Pre-opening Events
Before opening the pub, we are going to organize several pre-opening events that will help create buzz and attract prospective customers.
Operating Plan
In this section you should look to provide answers to these questions:
How will you run the bar? What will be the bar timings? What will be your rates? How will you source your drinks, food products and ingredients?
Preparing a detailed operating plan can help you identify issues beforehand and resolve them. For example, if you expect your bar to be jam-packed during weekends, will your staff be able to handle the high traffic on its own or will you require some additional part-time employees?
Management Plan
In this section, you need to share the names of your core team, describe their relevant work experience and past achievements. This section is usually followed by your hiring plan which can be a table summarizing the key positions you plan to hire, with their expected salaries.
Financial Plan
In the last section of your pub business plan, talk about the “finance” side of things. Specifically speaking, share information about the following:
Operating costs Direct costs Loan repayments Cash flows Expected revenues and profits Balance sheet Capital expenditures
Now that you have seen what goes into a powerful pub business plan, it’s time to roll your sleeves and begin the business planning process. You can start by downloading our FREE business plan template to get you started. Otherwise, we also recommend you check out our Ready-Made Pub Business Plan with automatic financials . We guarantee it will save you tons of time and money.
Whatever method you choose, we wish you good luck!
Download a Ready-Made Business Plan, Choose Your Industry:
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Sky high inflation may be coming down, but the cost of living crisis hasn’t abated, and the price of a pint is up across the nation. The British public won’t too easily be deterred from supporting their local, but UK pub owners are being hit at all angles by labour shortages, supply chain difficulties, and astronomical price increases in energy bills. Many have already been forced to close.
For new pub developers, this means caution as well as opportunity. Alongside an eager consumer base, there are also some ready-made premises to be snapped up and relaunched. But it’s not like the old days. The most successful pubs are now gastro or themed establishments that know how to cater for a modern clientele.
In this guide, we’ll explain what you need to know about opening a pub including choosing a location, agreeing a rent arrangement, picking a payment system, and getting an alcohol license.
At Startups.co.uk, we’re here to help small UK businesses to get started, grow and succeed. We have practical resources for helping new businesses get off the ground – you can use the tool below to get started today.
What Does Your Business Need Help With?
What does running a pub business involve today, how do you choose a business model for your pub, pub start-up costs: how much does it cost to start a pub, what skills do you need for running a pub, what rules and regulations are there for running a pub business, how much can i earn as a pub owner.
The pub industry is one most us are familiar with, which is one reason why many people are tempted try to start a pub. In 2020, according to ONS data , there were 58 pubs per 100,000 people in the UK.
However, for the various national and regional lockdowns between 20 March 2020 and 4 July 2020 nearly all pubs, cafes and restaurants in the UK were closed.
During this time, the entire industry suffered as footfall declined and consumers stayed away. Some restaurants remained open for delivery and takeaway, but the industry was dramatically thinned.
How has COVID-19 changed the pub sector?
The accommodation and food service industry experienced the largest decrease in working hours of any industry, according to figures from the ONS . During lockdown, hours worked for restaurant employees were down 65% over 2019, compared with a 24% decrease for all other workers.
The chaos of lockdown and the changes caused by the coronavirus have created a challenging environment for the pub industry – but they’ve prompted some creative thinking, too. Pubs are becoming more ambitious, especially with the growth of pop-up bars, and customers become increasingly demanding, which can be healthy for profits.
In addition to this, the fact that over a billion pub meals are now served in the UK every year shows fewer people are now content just to go to the pub for a couple of pints of lager. So although the traditional pub is changing, pubs remain central to the British way of life. However, running a pub isn’t for the faint-hearted. If nothing else, it’s hard work.
John McNamara, chief executive of the British Innkeepers Institute (BII), says:
“In addition to requiring good people skills you will need to be extremely versatile as the job involves people management, stock management, financial management, catering, drinks knowledge, legal knowledge, marketing and customer service. The rewards, however, can be fantastic.”
As generations of retired footballers have found to their peril, being a pub owner requires commercial awareness and business knowledge. You’ll be managing a team of staff, so will also have to keep on top of employment law, management techniques and training.
You will also have to know about licensing laws, as well as health and safety and food hygiene.
If you dream of running your own pub, you probably already have an idea about what kind of pub you will be managing. With a greater variety of pubs than ever, your choice is whether yours will be a countryside-based local pub, a trendy, inner-city bar for a younger, night-time crowd, or one of the huge variety of businesses between these extremes.
Running a pub today means balancing lots of different business needs, including HR, sales and CRM. Luckily, project management tools can help you to automate many of the more time-consuming tasks, so you can focus more on running your firm.
Read our expert guide to learn more about the best project management tools for small businesses.
The most important decision to make before taking the plunge is whether to run a lease or a freehouse. The majority of pubs in the UK are not independently owned; with many being owned by a pub company; although the brewery-owned pubs are increasing as more open.
This makes running a leasehold the most popular option, as it is a much cheaper route into the pub business. You effectively buy the business, but not the property, and can sell it on that basis. You rent the pub from the pub company or brewery, with rent negotiated between you and your landlord, and then trade as a sole trader. You keep all of the profits of the pub, except that from games machines, which is usually shared between you and the pub company or brewery.
A leasehold can either be tied or free of tied. A tied leasehold means a considerable proportion of your drinks have to be bought from the brewery, so you can’t shop around to find the cheapest prices or particular brands you’d like to stock.
A tied lease is a popular first step into the pub market, says Richard Coltart, director of Richard Coltart Consulting and co-owner and director of pub company Who Cares Wins Ltd.
“A tied lease is a much cheaper option,” he says, “and is a good foot in the door. But it can lead to a struggle in the long term because you’re tied to the drinks you sell. This makes beer very expensive – you’re often making 20% less per pint in gross profit. That’s why many pubs are specialising food, or wine, or being children-friendly; the landlords are trying to keep sales away from beer.”
But, says Coltart, a tied lease can be a good stepping-stone to more independence:
“People take a tied lease, run it really well, make some good money, sell it for twice what they paid for the lease and then use that money to get a free of tie lease,” he explains.
A free of tie option provides the independence of a freehold without the cost, but is still more expensive than a tied lease.
If you decide instead you would rather have complete control and be a free-trader, you’ll need to put in much more investment up-front. You will have to buy the business and the property, making it the most expensive way to enter the trade.
However, you will be responsible for all decisions concerning the business, and you can make deals with whoever you like for products and services. You also have the long-term property appreciation. If you make a success of it, the rewards can be huge .
Before you start taking the first steps into acquiring a pub, it is crucial to draw up a business plan. A business plan is crucial to understanding what you want to achieve, how much money you have and what you can afford. And, of course, you’ll need to show a business plan to the brewery or pub company when applying for your pub.
As for the pub itself, in Coltart’s words, it’s a case of ‘location, location, location’.
“This is the most important thing to get right. Look what’s around you, the footfall, the competition, the transport, parking and general demographics.”
Also, make sure you get a proper survey of the building as this can save you a fortune later on, and ensure the building meets fire safety and environmental health regulations.
When it comes to starting a business, you can never plan too much.
To help formulate your pub business plan you may find it useful to download our free business plan template.
Tenancy costs start at around £20,000 and go up to £50,000. This pays for the fixtures and fittings and a deposit covering you if you can’t pay your drinks bill. The rent depends on the pub – its size, what type it is, whether it serves food and so on – but is generally estimated at about 12% of turnover.
The market is very competitive so it’s best to write out a business plan and consult a specialist lawyer before investing.
Buying a leasehold is complicated because the performance of the business will determine the amount you have to pay for the goodwill of the company. This will be negotiated with the previous leaseholder based on the accounts for the business in addition to the fixtures, fittings and stock. Prices can start as low as £30,000 but rise steeply for more successful pubs.
A tied lease is the cheaper option. The premiums on this type of lease, where you have to sell the drinks sold to you by the brewery, are lower or sometimes even non-existent.
“The premium on the lease depends on the state of the building,” Coltart says. “If it’s poorly decorated and needs a lot of work, there could even be zero premium, but you’d be spending up to £100,000 on doing it up.
“The ballpark figure you would need to invest is around £150,000 for a reasonably basic tied lease, or for an under-trading free lease,” he advises.
Remember that you’re not just paying for the premium on the lease, but all fees, stock and staff as well.
The most expensive option is buying a freehouse, which will include the value of the building, the fixtures and fittings and the business as a going concern. The cost of a freehouse is often around one and a half times its turnover and prices usually start at around £120,000. Prices can often be much higher than this though, as independent buyers compete with big pub companies. Coltart points out that in a major city, particularly London, the initial investment could be around £3m.
Once you’ve found a business you like, you’ll need to finance the purchase.
Most lenders will provide up to 70% of the price of a freehouse. Some of the rest of the funding needed can be obtained from a brewery loan but this would come with ties and may limit your ability to negotiate stock prices and develop the business as you wish.
You would then need £5,000 to cover incidental costs (legal fees etc.) and £10,000 for stock and as insurance against a low period, adding up to a total of around £50,000. As the size of the pub and the profitability of the business increase, so will the amount of investment.
“A strong track record in the trade will inevitably mean you are more likely to secure better start-up finance. ‘Do what you know’ is one of the basic rules for a business start-up and, statistically, experience increases the chances of success,” adds Andrew Turzynski, senior business manager at First National Commercial banking.
Once you’ve got your pub, as with any business, you need to make sure exactly what is eating into your revenues.
Wages, for example, can often be a big stumbling block for the unprepared, says Richard Coltart. “Wages will cost in the region of 20-25% of the exc. VAT turnover, including the manager. If you’re managing it yourself then it will be slightly cheaper.”
EPOS systems are the backbone of small business cash flow – they are crucial for managing cash transactions. Compare the best EPOS systems to find the top provider for your pub startup.
Landlords come from all walks of life. “Licensed retailing can give the right people (young and old, male or female) hugely fulfilling and varied careers; and if they prove themselves, they can be offered challenging responsibilities at an early stage,” says John McNamara of the BII.
The two essential qualities you need in order to run a pub successfully are business awareness and enthusiasm for the pub trade.
You should also get experience working in a local pub if you haven’t already had some. Not only does this give you a practical insight, it could also help you work out the type of pub that would suit you.
More important than your previous occupation are the skills you have and your personality.
“You have to be very social,” says Coltart. “It’s bloody hard work, the hours can be extremely long, but it’s great fun. There’s huge camaraderie with the customers and the staff.”
To sell alcohol for comsumption on your premises you must have a licence. Following the 2003 Licensing Act, the licensing regime changed and the responsibility for issuing personal and premises licences rests with local authorities.
A pub must meet four licencing objectives: prevention of crime and disorder, protection of children, public safety, and the reduction of public nuisance. Designated premises supervisors are responsible for ensuring that the pub meets these criteria.
You must be over 18 years old, have no criminal record, prove that you are a ‘fit and proper’ person and understand your legal and social responsibilities.
Candidates are advised to hold a British Institute of Innkeeping (BII) National Licensee’s certificate.
Although this is not a guarantee of success, it will prepare you for the application. If you plan to develop the catering side, you will also need to contact the local environmental health department to ensure you meet their standards.
If you’re a newcomer to the industry you will also need training. The landlord will often run an induction course for people entering a lease. As well as covering the licence application, this will also introduce you to all the skills you need to run a business successfully, including legal skills; financial management; marketing; beer and cellar skills; and food hygiene. There are also training courses for experienced licensees.
Although many people love running a pub because of the lifestyle it entails, it’s also a business which can prove extremely lucrative.
John McNamara points out that pub businesses now have more opportunities to break the mold, providing opportunities for the creatively minded to yield increased profits:
“The change in the licensing means no longer are you tethered to the old system of shutting at 11pm or running a nightclub. Innovative ideas an be implemented to cater for different types of customers, lounge bars for after cinema or theatre drinkers, or even games bars for playstation buffs.”
The size of the pub will naturally affect how much money you can make, but in general the net profit should be around 20%-25% of turnover.
“For a tied lease that’s running reasonably well, you’d expect profits to be in the region of 20% of the total exc. VAT turnover,” says Coltart. “But if its for a free of tie lease, this is more likely to be around 25-30%. For some idea of profit on drinks, gross profit on draught beer should be around 50-55%, and 55-60% on bottled beer, if you’re running a tied lease. However, if you’re able to shop around for your drinks in a free of tie lease, it can be around 65-60% for draught or bottled beer.”
Owning a successful freehouse is where you can really rake it in. The profit will not be eaten up in rent, although you may have a large mortgage. And when you sell up, the growing strength of the property market means you can maximise your investment.
So what’s next? Software is an important first step when you’re looking to start a small business. Hospitality and leisure firms, in particular, rely heavily on EPOS systems to manage and enable cash transactions; here on Startups.co.uk we have a guide on to the best pub EPOS systems .
Our online comparison tool is also free of charge and has been designed to help you find the best deals and savings by giving you quotes from the top EPOS system providers in just one minute.
Related articles.
Getting Started
When you have a plan, you know exactly what you want to achieve, how you’re going to go about it, and where you want to take the business. In fact, a solid plan is your secret weapon in making your pub a success.
A business plan helps you ask the important questions from the very beginning, iron out any issues, consider the playing field and find the opportunities. It will help make you a better entrepreneur – and forge your own path – so you can protect your vision and make your business stronger.
Your business plan isn’t just a road map for the way forward, it’s a great tool that enables you to take time to research every element of what could affect your business. We tend to think of it as planning your business around the place (that the pub is located in), the people (that you hope to attract), and the pub itself. And if you start thinking about your vision for the pub in this way, creating a plan will be relatively straightforward when the time comes.
It mitigates unnecessary risks and helps you understand the lay of the land. Maybe you’ve been so focused on your own idea that you’ve not clocked there’s a lack of great entertainment options mid-week that you could capitalise on? Or maybe the opportunity really lies in a good pub offering great drinks, no frills? Or perhaps there’s a reason people don’t want (yet) another Mexican-themed pub with food? Evaluating the context really helps to focus your efforts and ensure your flair, insight and spirit shines through.
The business plan will also allow you to set realistic financial projections and targets. Not only will this help you assess whether pub business will meet your expectations on reward, it also allows you to assess how you are tracking towards your targets, once you are up and running.
Finally, by having your plan clearly set out it makes it much easier to share your vision for the pub with your team and your business partners so everyone can understands what you are trying to achieve and the steps to get there. Here are ten areas we recommend considering as part of your business plan:
Under the Pubs Code, there is certain information that we must provide you before you start preparing your business plan. This is called Schedule 1 information and includes such things as a copy of the premises licence for your pub and any conditions, a shadow Profit & Loss report, showing the assumptions we have made in setting the rent, a Schedule of Condition, showing the current state of the property and a list of any works we propose to do. Full details of what we will provide can be found in the Working with Star document .
One of the best things about working in partnership with Star Pubs are the insights we provide using a combination of data and our breadth and depth of experience to give you a competitive edge.
We will provide you with a straightforward business plan template, and if you need it, a template profit & loss spreadsheet to help you plan your financials.
Under the pubs code you are advised to seek independent professional advice such as business, legal, property and rental valuation advice. As a minimum we require you to seek advice from a Licenced Trade Accountant on your business plan. To help, we have a panel of advisors that you can use. But of course you are free to use your own.
You also get four months’ free introductory BII Membership, where you can get more help with your business plan by accessing a raft of useful resources.
Let your personality, energy and ability shine through and start thinking about and creating your business plan today. Find a pub to apply for, or get in touch with the Recruitment team to start your journey and discover how your skills, enthusiasm and ambition matches ours.
Find your pub Coaching Area Getting Started
Register now to receive regular email or text updates when new pubs to let come onto the market and get the latest news from Star Pubs. It’s free and puts you under no obligation.
To download our no nonsense guide to running your own pub click below.
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The cost of new tax credits and spending in harris' plan would reach at least $1.95 trillion, partially offset by $250 billion, crfb found.
Forbes chairman and editor-in-chief Steve Forbes reacts to Vice President Kamala Harris economic plan and price controls proposal on The Bottom Line.
A key part of Vice President Kamala Harris ' newly released economic agenda would add $1.7 trillion to America's growing national debt, according to a budget watchdog.
The plan, dubbed an "Agenda to Lower Costs for American Families," was released Friday as Harris lays out her platform in her campaign for president. It includes expansions of the Child Tax Credit and Earned Income Tax Credit, as well as an extension of the health insurance premium subsidies under the Affordable Care Act (aka ObamaCare) that are due to expire at the end of next year. It would also establish a new $25,000 tax credit for first-time homebuyers, expand tax credits for building affordable housing, create a $40 billion housing innovation fund, and seek to lower prescription drug prices through negotiations and increased transparency.
A rapid analysis by the nonpartisan Committee for a Responsible Federal Budget (CRFB) found that these plans would increase federal budget deficits by $1.7 trillion over the next decade. That figure would rise to $2 trillion if temporary housing policies the vice president has proposed are eventually made permanent.
HARRIS BLAMES CORPORATE GREED FOR HIGH PRICES, BUT SOME ECONOMISTS DISAGREE
Vice President Harris' plan would add $1.7 trillion to the budget deficit over the next decade, according to the CRFB. (Peter Zay/Anadolu via / Getty Images)
The think tank noted that although the fact sheet released by the Harris campaign "is lacking certain details that would be necessary for a full analysis of these policies, many of them resemble proposals in the Biden-Harris Administration's most recent budget."
Based on CRFB's analysis of what the Harris campaign released, the cost of new tax credits and spending would total about $1.95 trillion over fiscal years 2026 to 2035 – which would rise to $2.25 trillion if the housing policies were made permanent.
That figure would be partially offset by about $250 billion in savings from lower prescription drug costs, resulting in a $1.7 trillion increase to the deficit over that period.
TRUMP AND HARRIS SUPPORT ENDING TAXES ON TIPS: WHAT DO EXPERTS THINK?
Harris' overhaul of the child tax credit would be the most expensive component of the policy proposal she released Friday. (Elizabeth Conley/Houston Chronicle via / Getty Images)
The most expensive component of the plan would be the expansion of the Child Tax Credit (CTC) by making it fully refundable and increasing the base credit from $2,000 to $3,000, or to $3,600 for children under the age of 6.
That would cost a total of $1.1 trillion over 10 years relative to the extension of the CTC and related policies as structured under the Tax Cuts and Jobs Act, while that figure would rise to $1.8 trillion when compared to current law given that CTC policies are slated to expire.
It would also boost the credit for children in the first year of their lives to $6,000, which would cost a further $100 billion over a decade.
HOME BUILDERS TELL VP HARRIS HER HOUSING PLAN NEEDS TO ADDRESS REGULATORY BARRIERS
Vice President Harris and her running mate, Minnesota Gov. Tim Walz, have signaled they support the Biden-Harris budget's tax increases. (Melina Mara/The Washington Post via / Getty Images)
Extending the expansion of the ObamaCare premium tax credit would cost $400 billion over the decade. Increasing the Earned Income Tax Credit for workers without child dependents for tax purposes would cost $150 billion.
The $25,000 first-time homebuyer credit , which is scheduled to be in place for four years based on Harris' plan, would cost $100 billion over a decade based on her campaign's estimate of 4 million eligible homebuyers – though CRFB believes that number could be higher and result in additional costs.
Additional affordable housing policies included in her plan would also be in place for four years and would also cost $100 billion over 10 years, although CRFB notes that cost could differ due to not-yet-specified details of Harris' proposal.
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While the proposal released by her campaign didn't specify how they would be funded through higher taxes or spending reductions, Harris and her vice presidential nominee, Minnesota Gov. Tim Walz, have said they plan to "fulfill their commitment to fiscal responsibility, including by asking the wealthiest Americans and largest corporations to pay their fair share – steps that will allow us to make necessary investments in the middle class, while also reducing the deficit and strengthening our fiscal health."
Harris' announcement on Friday represents just a portion of her overall economic agenda. She has also said that she plans to release plans for education, child care and long-term care, among other policies.
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Uber has spent millions trying to get a proposal on the Nevada ballot that would restrict the legal fees that bankroll many lawsuits against companies.
By Jessica Silver-Greenberg
It has been a decades-long dream of corporate America: making it harder for aggrieved customers, workers and others to file lawsuits against companies seeking compensation for alleged injuries, mistreatment and other harms.
Now Uber, the giant ride-hailing company that has been a magnet for such litigation, is pitching a plan that could fulfill that fantasy, at least in one state.
The company is seeking to place a measure on Nevada’s ballot that would drastically limit the amount of money that lawyers could collect when they brought successful lawsuits. If the measure passes, it will make it less attractive — and in some cases financially impractical — for plaintiffs’ lawyers to file such suits.
The initiative is being spearheaded by Nevadans for Fair Recovery, a political action committee created this year by Uber and its lobbyists. The company has put $5 million into the PAC and is its only financial backer, campaign finance records show .
The PAC has presented the measure as a way to protect people from trial lawyers who are “getting rich at the expense of plaintiffs and everyone else,” as the group says on its website alongside a picture of someone sliding a $100 dollar bill into a suit pocket.
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How To Run A Pub
Essential Advice & Guide To Running A Pub
The essential tool for any business is the business plan. Many publicans make the mistake of writing theirs and then filing it; for the best chance of success a business plan should be an on-going document that will adapt to develop your business and bring you the best return on your investment.
A good business plan will contain all these key sections:
For a free of charge, no obligation, initial chat please click here to go to the contacts page … I look forward to hearing from you.
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Published: Aug 13, 2024, 7:15am
What is a marketing plan, marketing plan vs. marketing strategy, why businesses need a marketing plan, essential marketing channels, how to create a marketing plan, bottom line, frequently asked questions (faqs).
The difference between a flourishing business and a floundering business often comes down to an effective marketing campaign. This is especially true for small businesses. Every successful marketing campaign starts with a well-thought-out marketing plan. In this article, we will guide you through the steps on how to create a top-notch marketing plan to help put your business on the road to success.
A marketing plan is essentially a roadmap that guides businesses through the complex terrain of promoting their products or services. Think of it as a blueprint that details specific marketing campaigns, timelines, target audiences and channels such as social media , email or traditional media. Your plan should also establish clear metrics for success, the methodology used to evaluate performance and allocated budgets.
It is important to note that a marketing plan is not a static document. It is supposed to be an ever-evolving plan that adapts to market trends, customer feedback and the successful or unsuccessful marketing efforts. If done properly, a marketing plan will help you synchronize your marketing objectives with your overall business goals and ensure every marketing activity aligns with your broader vision of growth.
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Some assume that “marketing plan” and “marketing strategy” are the same thing, but be aware they hold distinct meanings and serve different purposes. A marketing strategy is more big-picture thinking. It identifies your target market, your value proposition, how you position yourself against competitors and how you will sustain your value over time. It involves deep insights into your customers’ needs, market trends and competitive analysis. It is essentially the “why” behind all your marketing actions.
The marketing plan, on the other hand, details the “what” and the “when” of those efforts. Once you have your marketing strategy outlined, you can begin to create a marketing plan. The plan should outline the specific campaigns, activities and tactics you’ll use to carry out the strategy. This includes details on the marketing channels you’ll use, the timeline for implementation, the budget and the key performance indicators you’ll track to measure success. It’s a blueprint that translates the strategy into actionable tasks and schedules.
A carefully crafted marketing plan can be a game-changer for small businesses dreaming of steady growth and a competitive edge over larger companies. Marketing plans with smart strategies and targeted campaigns can level the playing field by helping small businesses carve out their niche. It provides a clear roadmap that aligns marketing efforts with business objectives to ensure every marketing action contributes to the broader company goals.
This focused approach saves small businesses money by efficiently focusing resources instead of using a scattergun approach that can drain limited budgets. By identifying and understanding target markets, businesses can tailor their messaging to meet specific needs, which increases the likelihood of conversion. A solid marketing plan offers a framework for measuring success by setting benchmarks. With careful tracking, small businesses can quickly see what’s not working and adjust strategies in real time for better outcomes.
Today’s businesses have a wide array of marketing channels available to them. From highly analytical PPC advertising to engaging in-person event marketing, there’s no shortage of methods to promote your company.
During the past two decades, social media has proved to be a highly effective way for small businesses to market themselves at little to no costs. Platforms including TikTok, Facebook, Instagram, X and LinkedIn offer businesses a dynamic platform to engage directly with their audience. They allow for the sharing of content, running targeted ads and fostering community through comments and shares. Effective social media marketing can enhance brand awareness, drive traffic and strengthen customer loyalty.
Email marketing is another highly effective way to reach an audience directly. Newsletters, promotional offers and personalized content can nurture leads, promote loyalty and drive conversions. Email marketing offers measurable results and high ROI, making it a staple in a digital marketing strategy toolbox.
Content marketing involves creating hyper-relevant and compelling content that will act as a magnet to attract a laser-focused group of people. You can create blogs, videos, infographics and podcasts to cultivate an engaged community of followers with whom your brand’s message genuinely resonates.
SEO is the practice of optimizing website content to rank higher in search engine results pages. Effective SEO strategies including on-page optimization, quality link building and keyword research help drive traffic to your website.
PPC advertising is a method of online marketing where you pay a fee each time someone clicks on your ad. Popular platforms such as Google Ads and Bing Ads guarantee your ads show up first in search engine results for specific keywords, allowing you to bypass the “organic” results. While the pay-per-click fees can add up, this form of advertising provides immediate traffic and measurable results.
Influencer marketing leverages the reach of influencers in specific niches to help you promote your business to a larger audience. When you partner with a credible influencer, you can tap into their loyal followings, gain trust quickly and drive engagement that will hopefully lead to greater sales. Affiliate marketing can complement influencer marketing by allowing influencers to earn commissions on the sales they drive. This performance-based option is cost effective, as you will only pay for actual results.
Event marketing involves marketing your brand, company or service through in-person or virtual events. It can be anything from interactive webinars and educational workshops to large-scale conferences and industry trade shows. Event marketing gives you the opportunity to directly engage with your audience and hopefully provide a memorable experience for your customers.
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Creating a marketing plan is a step-by-step process. Make sure you take your time with each step before moving on to the next one.
An executive summary is a snapshot of your simplified marketing goals, significant milestones and an outline of future plans. It should encapsulate relevant facts about your brand, setting the stage for the detailed strategy that follows. This section provides stakeholders with a clear understanding of where the company stands and where it intends to go, concisely summarizing the essence of the marketing efforts.
Who are you trying to reach? By identifying your target market you can tailor your marketing strategies effectively to help them reach the people most likely to be interested in your products or services. Outline the characteristics of your ideal customer including age, location, goals, pains and trigger points.
Competitor research is a critical step in forming a marketing plan. Analyze the strengths and weaknesses in other businesses in your industry. This insight can help you identify opportunities for differentiation and areas where you can fill in the opportunity your competitors may have overlooked.
Without clear marketing goals, you are just shooting barrels in the dark. Are you trying to increase brand awareness, boast sales or grow your digital footprint? And if so, by how much and in what timeframe? Use the SMART criteria for goal setting, which advises that goals should be specific, measurable, achievable, relevant and time-bound.
Once you determine what your marketing goals are, it is important to track their effectiveness.
To do this, set baseline measurements for key performance indicators related to your goals, such as website traffic, conversion rates or social media engagement. Monitor these benchmarks on a regular basis and adjust strategies as needed to enhance marketing performance.
Are you going to throw all your eggs in the social media basket? Or are you going to diversify your marketing strategy with both digital and in-person events? This step requires a deep dive into the various channels available—be it social media, email marketing, SEO or traditional advertising. When choosing your marketing channels, be sure to ask yourself where your target audience is most engaged.
Finally, create a budget that covers all aspects of your marketing efforts from paid advertising and content creation to software subscriptions and event sponsorships. This will help you stay financially responsible as more marketing opportunities arise.
One of the keys to a successful business is setting yourself apart from the competition. A strategic marketing plan that details your marketing efforts can not only help you stand out but also provide a step-by-step guide toward reaching your business objectives.
The main elements of a marketing plan typically include an executive summary, marketing objectives, target audience definition, marketing strategies, budget and metrics for performance evaluation. It outlines the company’s strategy for attracting and retaining customers by detailing specific actions to achieve campaign goals, timeline with key milestones, channels to be used and team members responsibilities.
A realistic marketing budget is typically determined as a percentage of a company’s revenue. It is recommended that B2B companies spend 2% to 5% of their revenue on marketing. Because B2C companies typically have a broader range of marketing channels, it is recommended they spend between 5% and 10% of their revenue on marketing.
Every marketing plan should start with a clear mission statement for the marketing department that aligns with the overall mission of the business. This statement should be specific enough to guide marketing efforts but also allow room to adjust the plan as needed. For example, if your company’s mission is “to revolutionize home cooking,” the marketing mission might be “to inspire home cooks and provide them with innovative cooking solutions.”
Jennifer Simonson draws on two decades as a journalist covering everything from local economic developement to small business marketing. Beyond writing, she tested entrepreneurial waters by launching a mobile massage service, a content marketing firm and an e-commerce venture. These experiences enriched her understanding of small business management and marketing strategies. Today, she channels this first-hand knowledge into her articles for Forbes Advisor.
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Reporting by Anthony Deutsch, Tom Balmforth in London, Jonathan Landay in Washington and Parisa Hafezi in Dubai; Additional reporting by Alistair Smout in London; Editing by Mike Collett-White and Daniel Flynn
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A former Deutsche Bank trader whose conviction for rigging an interest rate benchmark was overturned has resolved a lawsuit accusing the German bank of destroying his banking career by falsely implicating him in the scheme.
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COMMENTS
A brewery business plan should include 10 key elements as follows: Executive Summary. Company Overview. Industry Analysis. Customer Analysis. Competitive Analysis. Marketing Plan. Operations Plan. Management Team.
A microbrewery business plan is a formal written document that describes your company's business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders ...
Creating a microbrewery business plan. Once you've done some thorough research and know you've got what it takes to start a microbrewery, the next step is to write a business plan. Starting a brewery takes a lot of hard work, patience and organisation - and creating a solid business plan will help iron out the rougher patches of starting up.
Analysis of competition within the industry. Operational Plan - The operational plan portion of your business plan will outline current and expected staff needs, day-to-day functional components, microbrewery supply needs, and licensing and insurance requirements. Finances - You'll definitely want to approach the financial section with care.
Writing your micro pub business plan. Just like any other venture, you'll need to write a micro pub business plan. This will cover every aspect of your pub in detail. You'll be relying on your business plan a lot during the first year of business. Most lenders or investors will also want to look at your business plan before approving you ...
Low cost of rent, $1.00 per square foot for approximately 1,500 square feet. All of these qualities are consistent with The Bottlecap's goal of providing a central hub of communication and socialization for the Eugene community. In addition to a main area of the bar, there will be two additional rooms.
Financial plan. Finally in your bar business plan comes the section on your financials. This will define how you plan to succeed as a healthy, growing business. For a new bar, this section will include your bar startup costs and a break-even analysis. Your bar startup costs are the expenses incurred during the process of getting off the ground.
Lastly, address any funding needs in the "ask" section of your executive summary. 2. The presentation of the company. As you build your pub business plan, the second section deserves attention as it delves into the structure and ownership, location, and management team of your company.
To empower business enthusiasts and entrepreneurs, we've provided editable business plan ppt templates that can be personalized to your specific needs. These templates are your toolkit to create a roadmap for your pub's success. Our templates are here to guide you and help you draft a robust business plan.
Emphasise the improvements you intend to make to customer service in your business plan. Assess the current staffing levels and knowledge of team members and propose training to plug any gaps in knowledge and help improve the overall customer experience. 7. Investment Opportunities. Explore potential investment opportunities for the pub.
Show your pub business plan to potential investors or lenders to acquire the funds you require. #3. Define Your Brand. Your business brand is both what it stands for and how the general public perceives it. A strong brand will set your pub business apart from the competition. Advertise your new pub business thoroughly.
First, alcohol helps reduce inhibition, which in turn makes it easier for people to meet new people and interact with them in a relaxed manner. Second, draft beer helps generate good profits. Cocktails and Spirits: We will also offer a wide variety of spirits including vodka, tequila, gin and other liquors.
As part of the application process, you will receive 3 months temporary membership of the (the BII). This enables you to access the support and advice offered by the BII when considering operating a Greene King pub and preparing your business plan. For help with advisors, the BII also provide access to accredited independent professional ...
A traditional business plan should include an executive summary, a business description, market research, a business structure, a products and services overview, a marketing plan, your financial ...
A business plan is crucial to understanding what you want to achieve, how much money you have and what you can afford. And, of course, you'll need to show a business plan to the brewery or pub company when applying for your pub. As for the pub itself, in Coltart's words, it's a case of 'location, location, location'.
Food prices have surged by more than 20% under the Biden-Harris administration, leaving many voters eager to stretch their dollars further at the grocery store.
Here are ten areas we recommend considering as part of your business plan: Local demographics and target customers. Leisure markets in the area. Competitor analysis. Your proposition for the pub. The physical environment. Food and drinks offers. Sustainability opportunities. Marketing your pub.
A good business plan guides you through each stage of starting and managing your business. You'll use your business plan as a roadmap for how to structure, run, and grow your new business. It's a way to think through the key elements of your business. Business plans can help you get funding or bring on new business partners.
A key part of Vice President Kamala Harris' newly released economic agenda would add $1.7 trillion to America's growing national debt, according to a budget watchdog. The plan, dubbed an "Agenda ...
Plan. Your Marketing, Development and. Financial plan. The key to your business success is planning. The document will guide you through a structured process to produce a working document detailing the marketing, development and financial plan for your pub business. We will require you to seek independent professional advice on your business plan.
Since 2019, the California FAIR Plan has seen a 164% increase in policies, with a 27% jump just this past year, an indication of how many residents across the state are unable to access private ...
The plan, which builds on proposals that President Joe Biden has already announced, promises: Up to $25,000 in down-payment support for first-time homebuyers. To provide a $10,000 tax credit for ...
The Biden budget contains large fiscal question marks, like how to pay for the president's plan to extend Trump-era tax cuts for people earning less than $400,000 a year. It restores an expanded ...
A version of this article appears in print on , Section B, Page 1 of the New York edition with the headline: Uber, Facing Sexual-Assault Litigation, Pushes Plan That May Curb Suits. Order Reprints ...
The plan should also contain your strategy to either increase performance or if all else fails your "exit" strategy. The plan will set where you want to be in the future - whether it's a financial goal, running a group of pubs or retiring - and it should contain a clear plan for getting there. It will tell you (and everyone else who ...
UK spies are stepping up efforts to tackle cyber and artificial intelligence threats from hostile foreign states, including the sort of online manipulation that helped foment rioting across the ...
Jennifer Simonson draws on two decades as a journalist covering everything from local economic developement to small business marketing. Beyond writing, she tested entrepreneurial waters by ...
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MOSCOW (Reuters) - A Russian investigator said on Monday that Ukraine had struck and damaged a third bridge over the Seym river in Russia's Kursk region a day earlier, where Moscow's troops have ...
Harris is also releasing a plan calling for 3 million new-construction housing units, according to a person familiar with the matter, confirming a report in the Wall Street Journal. Harris's ...