Meredith Kendall, Jocelyn Nedumcheril, Tyler O’Regan, Austen Robinson
Our mission is to create a welcoming establishment that will fulfill the nightlife and entertainment needs of the local college population. We will strive to provide a safe and entertaining venue that can accommodate 18 and older, while also offering a mature bar setting for those of legal drinking age. Our ultimate goal is to provide a high quality and unique experience for our customers.
Two Floors Live Music Bar 18+ on weekends Specializing in live concerts Beer Pong Tables Darts
Monday- Amateur Night Tuesday- Beer Pong Tournament Thursday- College Special Friday or Saturday- Live Concerts
3 Distinct Customer Groups College Underclassman: College Upperclassman: 21+ Young Professionals
Location ◦ Large customer base from local universities Uniqueness ◦ No similar businesses in the area Accommodation ◦ 18 to enter on weekends
Important to consistently find Bands Sophisticated Sound System Bands will set up early in the night Concerts start at 10:30 House Music throughout the night
Order in bulk Keep costs low Quick Service Properly Trained Bartenders
Lean Six Sigma System -elimination of food services 5S Practices
Waiting- additional staff Motion/Underutilization- walk thru-tests Inventory- JIT and daily checks Defects- managers review supplies, perform tests Transportation- research suppliers
Background check on musical talents Proper bartender/bouncer training -wristbands and markers Bartenders -produce all kinds of drinks -limit waste of liquor
Reliable Suppliers -Bryn Mawr Wine and Spirits -Muller, Origlio, Penn beer distributors -US Foods Periodic Review System -daily inventory check
Operate at full capacity Thursday-Saturday Factors: ◦ Certain weekends, weather, sports, special events, school schedules Separate Entrances ◦ Streamlined ◦ Reduces waiting times 2 Month Moving Average ◦ Adjust as needed
Start-up Cost: $400,000 -outfitting the bar, stage, liquor license, etc. Fixed Cost: Variable Cost: Rent$120,000 Insurance$5,000 Manager Salary$46,000 Gas$5,100 Electricity$17,400 Bouncers$40,716 Bartenders - $3 an hour$33,700 Band Fees - $300 a show10,500
Prices based on 2.5 times cost markup Beer- $3 Shot- $5 Well Drinks- $5 Soda/Redbull- $3 Cover (under 21)- $10 Thursday Specials Beer- $2 Shot- $3 Well Drinks- $3
RevenueCOGSProfit Cover$270,0000 Beer weekends$74,925$29,970.0$44,955 Beer Weekdays$60,750$24,300.0$36,450 shot weekends$101,250$40,500.0$60,750 shot weekday$33,750$13,500.0$20,250 mix drink weekend$84,375$33,750.0$50,625 mid drink weekday$67,500$27,000.0$40,500 Soda/Redbull$121,500$48,600.0$72,900 Total$814,050$217,620$596,430
Revenue- $596,430 Less Startup Costs- $400,000 Fixed Annual- $171,000 Variable Annual- $107,400 Loss- $81,970