In college-age customers, as for more elder people.

In this chapter, Hookah Space lounge bar
business plan is explained. The location, which is about to be created is a
start-up project, which takes place in Calpe, Spain. Business plan is written
according to practical implementation and the knowledge acquired from the
literature and online sources taken from Laurea UAS and Internet. Further
information is going to be mentioned below.

 

1.1      
Executive summary

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Hookah Space
bar is a new lounge bar concept, which will focus on a combination of
high-quality leisure place, which will have a wonderful service providing big
selection of cocktails, quality-made hookahs and unique chill-out music, which
will make people feel comfortable and come back repeatedly.

 

Potential
customers will be over 21 years old, which means that all-ages visitors are
going to be welcome. It is going to be a place of interest as for young people,
college-age customers, as for more elder people. Youngers will be attracted
because of a good location, music and a wide selection of hookahs, which are
becoming very popular nowadays thank to the brought Middle Eastern culture to
Europe. Elder people normally prefer to spend their time in a chilling
atmosphere talking to their colleagues and friends rather than going to the
club with very loud music. What is more, person of every age will be able to
taste a perfect cocktail for him or her because our service team will choose
for that person the most suitable drink according to the customer’s
preferences. The first bar is going to be established in Calpe, a small town
located by the Mediterranean Sea in the county of Alicante in Spain, and
managed by the business founders, Valeria Karganova and Vladislav Borouhhin.
The second founder is a new-coming entrepreneur from UK, who is about to finish
the same degree program as Valeria Karganova. The business will generate
revenues through the sale of flavored tobaccos, drinks that will suit
everyone’s preferences, and appetizers. The business seeks angel investor
funding to launch its first lounge bar.

 

The business
project to become profitable in the second part of the first year
with good profit from strong sales after the opening during first half of
year. By the time of first half of year, sales will achieve zero-profit
condition. Sales to be triple by the second year of operation. Net profit
of sales will be respectable due to the high demand on the service
provided. Exit for investors is possible because of becoming a franchise,
forming part of lounge bars chain looking to expand their market.

 

Mission

 

One of the
most important missions of Hookah Space lounge bar is to mix European and
Middle Eastern cultures by offering to people hookahs made only with the best
tobacco, unique drinks that will satisfy tastes of all the visitors, treat the
customers not like clients but like guests. In addition, everything is going to
be accompanied with a little extra, which will attract people even more, which
is music.

 

 

Objectives

 

In order to
success, Hookah Space lounge bar seeks to achieve many essential goals and
objectives for the period of first three years. Bringing the culture of
high-quality hookah to become as an idea of unforgettable leisure and
entertainment. Providing to people a wonderful service to be able to get only
positive feedbacks from the clients. Maintain actively working social media
websites as Facebook and Instagram, due to fast technology devices use growing
and its development, by gaining more than 1000 followers in a first year and
more than 5000 in a third year. Also, to become one of the first leisure places
in Calpe and surroundings on TripAdvisor platform by the end of the first year
after opening. Hookah Space is going to turn to popular location in the
hospitality field in the sphere of lounge bars and places of interest.
Furthermore, one of the most important objectives is, to create a perfect model
of a profitable bar, which afterwards can be converted into a franchise with
fundraising. Hookah Space lounge bar is going to maintain profit growth at
approximately 30% per annum by the end of a second year and create a base of
returning customers at least at 30% by the end of the first year. This way to popularize
the idea of hookah lounge bar among local residents in the first half of year.

 

Key to success

 

Based on the analysis of the practical
implementation and all the market in general, some main factors are defined to
bring Hookah Space lounge bar to success. First, giving to visitors what
they want corresponding the quality to the price, following the law of supply and demand, which consists of the
result of the availability of service and the desire for that service has on
price. Then hiring a good team,
establishing loyalty at work and building a base of loyal customers is also
very important. After acquiring loyal
and satisfied customers get good feedbacks from people, thank to whom
the market expanding will be growing in double faster and stronger.

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