V. Competitive Analysis
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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 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.
[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.