Business Plan

I am looking for a business plan consisting of 3 to 5 pages. The concept is a Karaoke Bar and the name will be Wings ‘n’ Sing. I have attached a business plan that was internet based and also an assignment that was turned in by myself in another class. I like the concept but don’t wont to use the same assignment.
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Wings ‘n’ Sing Karaoke Bar
Business Plan
The purpose of this business plan is to raise $100,000 for the development of a Karaoke bar while
showcasing the expected financials and operations over the next three years. Wings ‘n’ Sing Karaoke
Bar, Inc. (“the Company”) is a Jacksonville, FL based corporation that will provide a comfortable
environment coupled with alcohol to customers in its targeted market. The Company was founded by
Name.
1.1 Products and Services
The Wings ‘n’ Sing Karaoke Bar will feature approximately 4,000 square feet of space. The facility will
have a full bar that will serve spirits, wine, and beer. The Company will also have plasma screen TVs,
karaoke stage/machines, five private party rooms, and a pool table for customer enjoyment. Name is
currently in the process of obtaining the liquor license for the Karaoke Bar. The third section of the
business plan will further describe the services offered by the Karaoke Bar.
1.2 The Financing
Name is seeking to raise $250,000 from Vy-Star Credit Union as a bank loan. The interest rate and loan
agreement are to be further discussed during negotiation. The financing will be used for the following: •
Development of the Company’s Karaoke Bar location. • Financing for the first six months of operation. •
Capital to purchase the alcohol inventory. Name will contribute $10,000 to the venture.
1.3 Mission Statement
The mission of Wings ‘n’ Sing is to provide the highest form of karaoke entertainment and the best variety
of wings to the Jacksonville community. We offer the best wings ‘n’ singing around!
1.4 Management Team
The Company was founded by Name. Name has more than 10 years of experience in the bar industry.
Through his expertise, he will be able to bring the operations of the business to profitability within its first
year of operations.
1.5 Sales Forecasts
Name expects a strong rate of growth at the start of operations. Below are the expected financials over
the next three years.
Profit and Loss Yearly
Year
Sales
Operation Cost
Net Profit
1
$650,000.00
$375,000.00
$275,000.00
2
$715,000.00
$390,000.00
$325,000.00
3
$775,000.00
$424,000.00
$351,000.00
1.6 Expansion Plan
The Founder expects that the business will aggressively expand during the first three years of operation.
Name intends to implement marketing campaigns that will effectively target individuals within the target
market.
2.0 Company and Financing Summary
2.1 Registered Name and Corporate Structure
Wings ‘n’ Sing Karaoke Bar, Inc. The Company is registered as a corporation in the Florida.
2.2 Required Funds
At this time, the Karaoke Bar requires $100,000 of debt funds. Below is a breakdown of how these funds
will be used:
Project Start up Cost
Initial Lease Payment and Deposit
Working Capital
Lease holder improvement
Security Deposit
Opening Supplies
Marketing Budget
Misc
$25000.00
$65,000.00
$10,000.00
$2,500.00
$10,000.00
$10,000.00
$7500.00
Total
$130,000.00
3.0 Products and Services
Below is a description of the products and services offered by Wings ‘n’ Sing Karaoke Bar.
3.1 Alcohol Sales
The Karaoke Bar will offer a wide variety of liquors and alcoholic beverages that are available on the
menu. The restaurant will maintain a full bar including liquors, spirits, several vintages and types of wine,
as well as an extensive number of bottled and draught beers.
3.2 Other Revenue Centers
The location will also feature a number of amenities including a large LCD TV (for sports events), a
Karaoke Stage, and arcade games, and five private party rooms. These amenities are often found in
many tavern style bars, and they will provide the business will an ancillary stream of revenue.
4.0 Strategic and Market Analysis
4.1 Industry Analysis
There is a plethora of bars and drinking establishments in the United States. A U.S. Economic census
report indicates that there are over 48,000 individual establishments in the country. This number is
expected to continue as bars remain a popular form of entertainment among people under forty. Each
year the industry generates more than $14 billion dollars of revenue and provides gross annual payrolls of
$3 billion dollars. The industry also employs more than 335,000 people nationwide.
4.2 Customer Profile
The Karaoke Bar’s average client will be a middle to upper middle class man or woman living in the
Company’s target market and will spend $25 to $50 per visit to the Karaoke Bar • Ages 30 to 45 • Has an
interest in singing
.
5.0 Marketing Plan
The Karaoke Bar intends to maintain an extensive marketing campaign that will ensure maximum visibility
for the business in its targeted market. Below is an overview of the marketing strategies and objectives of
the Karaoke Bar.
5.1 Marketing Objectives
Implement a local campaign with the Company’s targeted market via the use of flyers, local newspaper
advertisements, and word of mouth.
•
• Develop an online presence by developing a website and placing the Company’s name and
contact information with online directories.
5.2 Marketing Strategies
Name intends on using a number of marketing strategies that will allow the Karaoke Bar to easily target
men and women within the target market. These strategies include traditional print advertisements and
ads placed on search engines on the Internet.. During the one month grand opening period, the Company
will offer extended “happy hours”, discounts on drinks, and other promotions that will draw patrons to the
location.
6.0 Owner’s Biography
Born in Wilmington, DE, Name has performed for many venues to include Atlanta’s Bonner Bros. Hair
Show. Waters has competed and judged many karaoke contests. He is currently attending Florida State
College of Jacksonville in pursuit of his degree in Hospitality and Tourism.
7.0 Financial Plan
7.1 Underlying Assumptions
•
•
.
• The Karaoke Bar will have an annual revenue growth rate of 16% per year.
• The Owner will acquire $100,000 of debt funds to develop the business.

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