Wine Bar Business Plan Template
If you want to start a Wine Bar business or expand your current Wine Bar, you need a business plan.
The following Wine Bar business plan template gives you the key elements to include in a winning Wine Bar business plan.
Wine Bar Business Plan Example
I. Executive Summary
Business Overview
[Company Name], located at [insert location here], is a wine bar focusing on providing unique and fine wines to the surrounding community. The Company will strive to offer its customers a one-of-a-kind experience as well as the greatest selection of wine options available in the area. The Company’s flagship bar will foster a friendly, pleasant, and warm ambiance explicitly tailored for socializing and networking.
Products Served
[Company Name]’s product offerings will include a comprehensive range of:
- Red wines
- White wines
- Rose and sparkling wines
- Distilled spirits
- Beer
- Non-alcoholic beverages
- Food and snacks
Customer Focus
[Company Name] will primarily serve residents, aged 21 and above and who live within a 10-mile radius of the business location. The demographics of these customers are as follows:
- 509,000 residents
- Average income of $52,600
- 41.6% married
- 49.6% in Mgt./Professional occupations
- Median age: 34 years
Management Team
[Company Name] is led by [Founder’s name], who has been in the bistro and bar business for [x] years. While [Founder] has never run a wine bar himself, he has an extensive experience and in-depth knowledge of managing a wine bar, including the operations side, such as running day-to-day operations as well as handling the business management side (e.g., staffing, marketing, etc.).
Success Factors
[Company Name] is qualified to succeed due to the following reasons:
- There is currently a high demand for wine bars in the community. In addition, the company surveyed the local population and received highly positive feedback pointing towards an explicit demand for the services, supporting the business after launch.
- The Company’s location is in a high-volume area and thus be highly convenient to significant numbers of passersby each day.
- The management team has a track record of success in the bar and bistro business.
- The Company will be offering a wide range of assorted wine both from the United States and other parts of the world.
- The wine bar business is a proven business and has succeeded in communities throughout the United States.
Financial Highlights
[Company Name] is currently seeking $350,000 to launch a wine bar. Specifically, these funds will be used as follows:
- Store design/build: $150,000
- Working capital: $200,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even
Topline projections over the next five years are as follows:
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |
|---|---|---|---|---|---|
| Revenue | $738,000 | $1,716,272 | $2,007,297 | $2,331,125 | $2,694,524 |
| Total Expenses | $639,595 | $1,021,515 | $1,110,127 | $1,190,308 | $1,273,715 |
| EBITDA | $98,405 | $694,757 | $897,169 | $1,140,817 | $1,420,809 |
| Depreciation | $16,560 | $16,560 | $16,560 | $16,560 | $16,560 |
| EBIT | $81,845 | $678,197 | $880,609 | $1,124,257 | $1,404,249 |
| Interest | $18,554 | $16,235 | $13,916 | $11,596 | $9,277 |
| Pre Tax Income | $63,291 | $661,962 | $866,694 | $1,112,661 | $1,394,972 |
| Income Tax Expense | $22,152 | $231,687 | $303,343 | $389,431 | $488,240 |
| Net Income | $41,139 | $430,276 | $563,351 | $723,230 | $906,732 |
| Number of locations | 1 | 1 | 1 | 1 | 1 |
| Avg customers/day | 20 | 30 | 40 | 50 | 60 |
II. Company Overview
Who is [Company Name]?
[Company Name], located at [insert location here], is a new wine bar focused on providing unique, quality wines in an enjoyable environment. It will showcase a well-designed interior with modern furnishings, high-end light fixtures and sleek finishes. The Company will strive to transform the wine experience for consumers while creating a unique and distinctive brand identity for itself.
The Company will offer a comprehensive range of red wine, white wine, rose and sparkling wine for immediate consumption, wine tastings, small bites and snacks, and creative cocktails. The Company will provide customers unprecedented access to both high-end and mainstream wines from the United States and all around the world.
While the wine bar will be the Company’s primary revenue center, [Company Name] will also be doing wine delivery and catering services.
[Company Name]’s History
[Founder’s Name] is an entrepreneur with a passion for wine who seeks to provide an upscale place for wine fanatics by offering a wide selection of unique wines in one place. [Company Name] will become the best wine bar in [Location], offering the highest quality and pleasant wine experience.
Upon surveying the local customer base and finding the potential retail location, [Founder’s Name] incorporated [Company Name] as an S-Corporation on [date of incorporation].
[Founder’s Name] has selected an initial location and is currently undergoing due diligence on each property and the local market to assess the most desirable location for the wine bar.
Since incorporation, the company has achieved the following milestones:
- Developed the company’s name, logo, and website
- Determined the list of products to be offered
- Determined equipment and inventory requirements
- Began recruiting key employees with experience
- Identified 15 potential suppliers and received preliminary interest from them
[Company Name]’s Products
The Company will provide customers unprecedented access to both luxury and mainstream brands, at fair and affordable prices. Below is [Company Name]’s initial list or product categories:
- Red wines
- White wines
- Rose and sparkling wines
- Distilled spirits
- Beer
- Non-alcoholic beverages
- Food and snacks
III. Industry Analysis
[Company Name] competes against small, individually owned wine bars and major regional or national chains. There are 1,610 wine bar businesses in the US and the market size is $2 billion. The wine bar industry in the US has a low market share concentration and has no major players with a market share of greater than 5%.
Growing wine consumption and expenditure on alcohol leads to increased demand for wine bars. Per capita expenditure on alcohol is expected to increase, representing a potential opportunity for the industry. The increasing popularity of wine among young alcoholic beverage consumers has significantly benefited the industry, particularly across metropolitan areas.
In the early part of the millennium, wine bars became very popular and started popping up in many metropolitan neighborhoods across major cities in the United States of America. Wine bars now compete with local hangouts such as coffee shops and local bars. The wine bar sensation offers the taste before people buy philosophy.
IV. Customer Analysis
Demographic Profile of Target Market
[Company Name] will serve the residents of [company location] and the immediate surrounding areas.
The area residents serve are affluent and are expected spend more on wine per capita than the national averages.
The precise demographics of the town in which the retail location resides is as follows:
| Springdale | Wyndham | |
|---|---|---|
| Total Population | 26,097 | 10,725 |
| Square Miles | 6.89 | 3.96 |
| Population Density | 3,789.20 | 2,710.80 |
| Population Male | 48.04% | 48.84% |
| Population Female | 51.96% | 51.16% |
| Target Population by Age Group | ||
| Age 18-24 | 3.68% | 3.52% |
| Age 25-34 | 5.22% | 4.50% |
| Age 35-44 | 13.80% | 13.91% |
| Age 45-54 | 18.09% | 18.22% |
| Target Population by Income | ||
| Income $50,000 to $74,999 | 11.16% | 6.00% |
| Income $75,000 to $99,999 | 10.91% | 4.41% |
| Income $100,000 to $124,999 | 9.07% | 6.40% |
| Income $125,000 to $149,999 | 9.95% | 8.02% |
| Income $150,000 to $199,999 | 12.20% | 11.11% |
| Income $200,000 and Over | 32.48% | 54.99% |
Customer Segmentation
The Company will primarily target the following customer segments:
- High-Income Individuals: The Company will attract people with high-income who enjoy drinking wine and usually have the disposable income to spend more on wine per capita than the national averages.
- Local professionals: The Company will attract local professionals who work in offices within a quarter mile of our location and we expect a fair portion of these individuals to frequent the establishment from 5:00pm on
- Local residents:Approximately 1,000 residents live near the surrounding area and a majority will frequent the establishment.
V. Competitive Analysis
Direct & Indirect Competitors
Downtown Wine Bar
Downtown Wine Bar is the town’s most familiar wine bar and has been in business for 7 years. Downtown Wine Bar offers a wide array of services that one would expect from a wine bar. Besides having a wine bar, Downtown Wine Bar also offers to sell the wine on the online platform. The bar serves its customers with every type of beverage ranging from wines, beers to champagne along with snacks.
Total Wines
Total Wines provides its customers with 700 selected wines that they can choose in the bar. Total Wines offers red wines, white wines, sparkling wines, craft beer and quick bites in their product portfolio. The company also sells wine accessories like decanters, as well as cigars and other products.
The Local Wine Bar
The Local Wine Bar was established in 2016 and is one of the finest wine bars in the area. The Local Wine Bar’s current location is in [location], which is filled with restaurants, pubs, and salons. The bar’s inventory includes hundreds of wines, liquor and beer, and a walk-in wine room containing some rare bottles. The Local Wine Bar caters to a high-end clientele looking for a fine wine and dining experience.
Competitive Advantage
[Company Name] enjoys several advantages over its competitors. These advantages include:
- Management: The Company’s management team has [x] years of business and hospitality experience that allows them to serve customers in an improved and sophisticated manner than the competitors.
- High-End Focus: [Company Name] will focus on high-end wine and liquor lovers, which is a fast-growing market segment by revenue.
- Relationships: Having lived in the community for 25 years, [Founder’s Name] knows all of the local leaders, newspapers, and other influences. As such, it will be relatively easy for [Company Name] to build brand awareness and an initial customer base.
- Location: [Company Name]’s location is near the center of town, giving the company access to people going to and leaving the colleges, clubs, bars, and passersby shopping in the city.
VI. Marketing Plan
The [Company Name] Brand
[Company name] seeks to position itself as a respectable, upper-middle-market competitor in the wine bar industry. Customers can expect the finest wine and dining experience at the company’s upscale establishment.
The [Company Name] brand will focus on the company’s unique value proposition:
- Convenient location
- Offering personalized, curated wine and craft beer selections in an intimate environment.
- Rotating products to offer the latest selections
- Comfortable, customer-focused environment
- Providing excellent customer service
Promotions Strategy
[Company Name] expects its target market to be residents living within a 10-mile radius of the location, aged 21 and above. The Company’s promotions strategy to reach the audience includes:
Pre-Opening Events
Before opening the wine bar, [Company Name] will organize pre-opening events designed for prospective customers, local merchants, and press contacts. These events will create buzz and awareness for [Company Name] in the area.
Advertisement
Advertisements in print publications like newspapers, magazines, etc., are an excellent way for businesses to connect with their audience. The Company will advertise its bar and bar offerings in popular magazines and news dailies. Obtaining relevant placements in industry magazines and journals will also help in increasing brand visibility.
Public Relations
[Company Name] will hire an experienced PR agency/professional(s) to formulate a compelling PR campaign to boost its brand visibility among the target audience. It will look to garner stories about the company and its offerings in various media outlets like podcasts, television stations, radio shows, etc.
Social Media Marketing
Social media is one of the most cost-effective and practical marketing methods for improving brand visibility. The Company will use social media to develop engaging content in terms of different wine types and post customer reviews that will increase audience awareness and loyalty.
Word of Mouth Marketing
[Company name] will encourage word-of-mouth marketing from loyal and satisfied clients. The Company will use recommendations and word-of-mouth marketing to grow the customer base through the network of its existing customers. The Company will be incentivizing its existing customer base to encourage their friends to come and try their products for the first time.
Special Offers
Offers and incentives are an excellent approach to assisting businesses in replenishing the churn in their customer base that they lose each year. The Company will introduce special offers and happy hours scheme to attract new consumers and encourage repeat purchases, which will be quite advantageous in the long run.
Pricing Strategy
Pricing strategy is one of the most important functions that any business can plan for attracting customers. Prices are a foundational element of a company’s revenues—if managed carefully, they can generate high profits.
[Company Name]’s pricing will be appropriate for the high quality and level of service associated with the bar, so customers feel they receive great value. The customer can expect to receive quality wine and dine service at a more affordable price than what they pay at an ultra-premium wine bar.
VII. Operations Plan
Functional Roles
[Company name] will carry out its day-to-day operations primarily on a walk-in basis, but it also takes reservations. To execute on [Company Name]’s business model, the company needs to perform many functions, including the following:
Service Functions
- Bartender
- Line Cook
- Waiter
- Hostess
- Bussers
Administrative Functions
- General & administrative functions including legal, marketing, bookkeeping, etc.
- Sourcing suppliers and managing supplier relations
- Inventory Management
- Hiring and training staff
Milestones
[Company Name] expects to achieve the following milestones in the following [] months:
| Date | Milestone |
|---|---|
| [Date 1] | Finalize lease agreement |
| [Date 2] | Design and build out [Company Name] |
| [Date 3] | Hire and train initial staff |
| [Date 4] | Kickoff of promotional campaign |
| [Date 5] | Launch [Company Name] |
| [Date 6] | Reach break-even |
VIII. Management Team
Management Team Members
[Company Name] is led by [Founder’s Name], who has been in the bar and bistro business for xx years. While [Founder] has never run a wine bar himself, he has extensive experience and in-depth knowledge of managing a wine bar, including:
- Wine trends
- Staffing
- Marketing
- Running day-to-day operations
- Business development
[Founder] has personal relationships with a variety of suppliers. [Founder] graduated from the University of ABC, where he majored in Business.
Hiring Plan
[Founder] will serve as the CEO. In order to launch the wine bar, the company will need to hire the following personnel:
- Bar Manager [Number]
- Bartenders [Number]
- Accountant / Cashier [Number]
- Waiters [Number]
- Bussers
- Security Officers [Number]
IX. Financial Plan
Revenue and Cost Drivers
[Company Name]’s revenues will come from the patrons of the wine bar. The major costs for the company will be the cost of remodeling the infrastructure and salaries of the staff. In the initial years, the company’s marketing spend will be high, as it establishes itself in the market. Moreover, rent for the prime location is also one of the notable cost drivers for the [Company Name].
Capital Requirements and Use of Funds
[Company Name] is currently seeking $350,000 to set up its wine bar. The capital will be used for funding capital expenditures and location build-out, hiring initial employees, marketing expenses and working capital.
Specifically, these funds will be used as follows:
- Store design/build: $150,000
- Working capital: $200,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even
Key Assumptions
The following table reflects the key revenue and cost assumptions made in the financial model:
| Number of customers per day | Per location |
|---|---|
| Year 1 | 100 |
| Year 2 | 120 |
| Year 3 | 130 |
| Year 4 | 140 |
| Year 5 | 150 |
| Average tab | $55.00 |
| Annual Lease ( per location) | $70,000 |
| Yearly Lease Increase % | 2.50% |
5 Year Annual Income Statement
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | ||
|---|---|---|---|---|---|---|
| Revenues | ||||||
| Product/Service A | $151,200 | $333,396 | $367,569 | $405,245 | $446,783 | |
| Product/Service B | $100,800 | $222,264 | $245,046 | $270,163 | $297,855 | |
| Total Revenues | $252,000 | $555,660 | $612,615 | $675,408 | $744,638 | |
| Expenses & Costs | ||||||
| Cost of goods sold | $57,960 | $122,245 | $122,523 | $128,328 | $134,035 | |
| Lease | $60,000 | $61,500 | $63,038 | $64,613 | $66,229 | |
| Marketing | $20,000 | $25,000 | $25,000 | $25,000 | $25,000 | |
| Salaries | $133,890 | $204,030 | $224,943 | $236,190 | $248,000 | |
| Other Expenses | $3,500 | $4,000 | $4,500 | $5,000 | $5,500 | |
| Total Expenses & Costs | $271,850 | $412,775 | $435,504 | $454,131 | $473,263 | |
| EBITDA | ($19,850) | $142,885 | $177,112 | $221,277 | $271,374 | |
| Depreciation | $36,960 | $36,960 | $36,960 | $36,960 | $36,960 | |
| EBIT | ($56,810) | $105,925 | $140,152 | $184,317 | $234,414 | |
| Interest | $23,621 | $20,668 | $17,716 | $14,763 | $11,810 | |
| PRETAX INCOME | ($80,431) | $85,257 | $122,436 | $169,554 | $222,604 | |
| Net Operating Loss | ($80,431) | ($80,431) | $0 | $0 | $0 | |
| Income Tax Expense | $0 | $1,689 | $42,853 | $59,344 | $77,911 | |
| NET INCOME | ($80,431) | $83,568 | $79,583 | $110,210 | $144,693 | |
| Net Profit Margin (%) | - | 15.00% | 13.00% | 16.30% | 19.40% |
5 Year Annual Balance Sheet
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | ||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Cash | $16,710 | $90,188 | $158,957 | $258,570 | $392,389 | |
| Accounts receivable | $0 | $0 | $0 | $0 | $0 | |
| Inventory | $21,000 | $23,153 | $25,526 | $28,142 | $31,027 | |
| Total Current Assets | $37,710 | $113,340 | $184,482 | $286,712 | $423,416 | |
| Fixed assets | $246,450 | $246,450 | $246,450 | $246,450 | $246,450 | |
| Depreciation | $36,960 | $73,920 | $110,880 | $147,840 | $184,800 | |
| Net fixed assets | $209,490 | $172,530 | $135,570 | $98,610 | $61,650 | |
| TOTAL ASSETS | $247,200 | $285,870 | $320,052 | $385,322 | $485,066 | |
| LIABILITIES & EQUITY | ||||||
| Debt | $317,971 | $272,546 | $227,122 | $181,698 | $136,273 | |
| Accounts payable | $9,660 | $10,187 | $10,210 | $10,694 | $11,170 | |
| Total Liabilities | $327,631 | $282,733 | $237,332 | $192,391 | $147,443 | |
| Share Capital | $0 | $0 | $0 | $0 | $0 | |
| Retained earnings | ($80,431) | $3,137 | $82,720 | $192,930 | $337,623 | |
| Total Equity | ($80,431) | $3,137 | $82,720 | $192,930 | $337,623 | |
| TOTAL LIABILITIES & EQUITY | $247,200 | $285,870 | $320,052 | $385,322 | $485,066 |
5 Year Annual Cash Flow Statement
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |
|---|---|---|---|---|---|
| CASH FLOW FROM OPERATIONS | |||||
| Net Income (Loss) | ($80,431) | $83,568 | $79,583 | $110,210 | $144,693 |
| Change in working capital | ($11,340) | ($1,625) | ($2,350) | ($2,133) | ($2,409) |
| Depreciation | $36,960 | $36,960 | $36,960 | $36,960 | $36,960 |
| Net Cash Flow from Operations | ($54,811) | $118,902 | $114,193 | $145,037 | $179,244 |
| CASH FLOW FROM INVESTMENTS | |||||
| Investment | ($246,450) | $0 | $0 | $0 | $0 |
| Net Cash Flow from Investments | ($246,450) | $0 | $0 | $0 | $0 |
| CASH FLOW FROM FINANCING | |||||
| Cash from equity | $0 | $0 | $0 | $0 | $0 |
| Cash from debt | $317,971 | ($45,424) | ($45,424) | ($45,424) | ($45,424) |
| Net Cash Flow from Financing | $317,971 | ($45,424) | ($45,424) | ($45,424) | ($45,424) |
| SUMMARY | |||||
| Net Cash Flow | $16,710 | $73,478 | $68,769 | $99,613 | $133,819 |
| Cash at Beginning of Period | $0 | $16,710 | $90,188 | $158,957 | $258,570 |
| Cash at End of Period | $16,710 | $90,188 | $158,957 | $258,570 | $392,389 |
