meredith kendall, jocelyn nedumcheril, tyler o’regan, austen robinson
TRANSCRIPT
Our mission is to create a welcoming establishment that will fulfill the nightlife and entertainment needs of the local college population. We will strive to provide a safe and entertaining venue that can accommodate 18 and older, while also offering a mature bar setting for those of legal drinking age. Our ultimate goal is to provide a high quality and unique experience for our customers.
Mission Statement
Two Floors
Live Music Bar
18+ on weekends
Specializing in live concerts
Beer Pong Tables
Darts
The Lounge
Monday- Amateur Night
Tuesday- Beer Pong Tournament
Thursday- College Special
Friday or Saturday- Live Concerts
Special Events
3 Distinct Customer Groups
College Underclassman: 18-20
College Upperclassman: 21+
Young Professionals
Target Market
Market Research
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Are you Statisfied with Villanova Nightlife?
Location◦ Large customer base from local universities
Uniqueness◦ No similar businesses in the area
Accommodation◦ 18 to enter on weekends
Strategy
Important to consistently find Bands
Sophisticated Sound System
Bands will set up early in the night
Concerts start at 10:30
House Music throughout the night
Operations Strategy
Waiting- additional staff
Motion/Underutilization- walk thru-tests
Inventory- JIT and daily checks
Defects- managers review supplies, perform tests
Transportation- research suppliers
Wastes
Background check on musical talents
Proper bartender/bouncer training -wristbands and markers
Bartenders -produce all kinds of drinks -limit waste of liquor
Implementation
Reliable Suppliers-Bryn Mawr Wine and Spirits-Muller, Origlio, Penn beer distributors-US Foods
Periodic Review System -daily inventory check
Supply Chain Management
Operate at full capacity Thursday-Saturday Factors:
◦ Certain weekends, weather, sports, special events, school schedules
Separate Entrances◦ Streamlined◦ Reduces waiting times
2 Month Moving Average◦ Adjust as needed
Demand Management
Start-up Cost: $400,000 -outfitting the bar, stage, liquor license, etc.
Fixed Cost:
Variable Cost:
Costs
Rent $120,000
Insurance $5,000
Manager Salary $46,000
Gas $5,100
Electricity $17,400
Bouncers $40,716
Bartenders - $3 an hour $33,700
Band Fees - $300 a show 10,500
Prices
Prices based on 2.5 times cost markup
Beer- $3 Shot- $5 Well Drinks- $5 Soda/Redbull- $3 Cover (under 21)- $10
Thursday Specials
Beer- $2 Shot- $3 Well Drinks- $3
Revenue COGS Profit
Cover $270,000 0 $270,000
Beer weekends $74,925 $29,970.0 $44,955
Beer Weekdays $60,750 $24,300.0 $36,450
shot weekends $101,250 $40,500.0 $60,750
shot weekday $33,750 $13,500.0 $20,250
mix drink weekend $84,375 $33,750.0 $50,625
mid drink weekday $67,500 $27,000.0 $40,500
Soda/Redbull $121,500 $48,600.0 $72,900
Total $814,050 $217,620 $596,430
Revenue off Drinks + Cover