II. Company Overview
This Section's Contents
You can download the Bar business plan template (including a full, customizable financial model) to your computer here.
Who is [Company Name]
[Company Name]is located in West Los Angeles near one of California’s premiere universities. [Company Name]is a new bar and lounge focused on creating an exciting environment where college students can purchase affordable drinks and dance to the latest music on our newly designed dance floor. Our lounge meets the demand for college students who want an alternative to the usual fraternity or apartment party. The [Company Name] spacious design and elegant pictures fosters an environment of relaxation and college fun. At [Company Name] it is always happy hour .
[Company Name]was founded by [Founder’s Name]. While [Founder’s Name]has been in the business for some time, but just recently decided to launch [Company Name]. Specifically, during this time, [Founder’s Name] took a trip to Los Angeles to visit her son and realized that there was only one bar to accommodate a large student population. During her trip, [Founder’s Name]frequented the local bar that enjoyed tremendous success. After several discussions with the manager [Founder’s Name]realized that there was enough demand from the local student population to sustain profitable growth for another bar.
Specifically the customer demographics and competitive situations near the university validated that her venture would work. Furthermore, after surveying the local student population, this theory was proven .
The [Company Name’s] History
Upon returning from [location], surveying the local customer base, and finding potential retail locations, [Founder Name]incorporated [Company Name]as an S-Corporation on July 1, 20XX.
The business is currently being run out of [founder name] home office, but once the lease on [Company Name] retail location is finalized, all operations will be run from there.
Since incorporation, the company has achieved the following milestones :
- Found a location
- Developed the company’s name, logo and website located at [x]
- Created the menu
- Determined equipment and inventory requirements
- Began recruiting key employees with experience
The [Company Name’s]Products
Below is the [Company Name]initial menu. As you can see all items are classified under the following five main categories :
- Hard Alcohol
[Company Name] will develop a 1,000 square foot bar whose key elements will include the following :
- Kitchen area
- Ordering counter
- Tables and couches
- A dance floor
Below please find a rough sketch of the floor plan. [Add diagram of floor plan ]
The location has 20 dedicated parking spots which should suffice even in peak hours.
[Company Name] plans to be open 7 days a week, from 11am to 2am. As demand dictates, we may extend or reduce our hours. Likewise, as demand dictates, we may offer delivery service.