V. Competitive Analysis
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Direct & Indirect Competitors
The following bars and restaurants are located within a 2 mile radius of [Company Name], thus providing either direct or indirect competition for customers :
B’s Bar & Lounge
B’s is the only bar located near the university within walking distance and has been in operation for 15 years. The bar offers a wide selection of alcohol and food items, but offers no entertainment.
Many alumni visit the establishment and host events. However, many students complain that the establishment is too small and needs to be remodeled. In addition, B’s offers a variety of items, but the items are overpriced.
Salsa & Chips
Salsa & Chips has been in business for 7 years and is a restaurant with a small bar located inside of its establishment.
However, [Company Name] has several advantages over Salsa & Chips including:
- Salsa & Chips does not offer entertainment
- Salsa & Chips offers only Mexican beers
- Salsa & Chips closes early
- Salsa & Chips does not have a happy hour
Pub & Deli
Pub & Deli is located four stores to the East of us. Pub & Deli has been in business for the past 10 years and enjoys great success, primarily due to its prime location (which we will also have).
[Company Name] has several advantages over Pub & Deli including:
- Pub & Deli does not offer products, including imported beers and hard alcohol
- Pub & Deli does not offer entertainment
While we expect that Pub &Deli will continue to thrive based on its location and customer relationships, we expect that more and more customers will frequent [Company Name] based on our lounge catered for students and their desire for place to dance and drink.
|Type of food||B's||Salsa & Chips||Pub & Deli|
|Apps||$5 - $12||$6.95 - $12.95||$8.95 - $16.95|
|Lunch||$9 - $18||$7.95 - $12.95||$12.95 - $15.95|
|Dinner||$15 - $25||$17 - $27||$18 - 26|
|Drinks||$7 - $11||$9 - $14||$8 - $12|
[Company Name] enjoys several advantages over its competitors. These advantages include :
- Location: [Company Name]’s location is near a university, giving us access to students, workers, and residents that live nearby.
- Décor and Environment: The bar and lounge will have the latest décor and premiere sound system to attract students.
- Management: Our management team has years of business and management experience that allows us to market and serve customers in a much more sophisticated manner than our competitors.
- Relationships: Having worked in the industry for 25 years [founder’s name] has the contacts with suppliers and promoters to successfully launch a bar.