Music Cafe Business Plan
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Executive Summary
Executive Summary
Music Cafй, unlike a typical record store and cafй, will provide the consumers an atmosphere they have never experienced before. Through its aggressive marketing tactics the company will attract high traffic of consumers in the community, mainly college students, to create an outstanding place to socialize, drink coffee, listen to and buy music. Music Cafй consist of two venues, one is a record store and the other is a cafй. The venues provide music CD’s, accessories, drinks and pastries to the customers at a reasonable price. Students, office workers, residents of the community, and tourists can spend their breaks eating, listening to music and socializing at our store. On their way out they will purchase music CD’s or accessories. The cafй will create some of the desired revenue for the business; however the main source of revenue will be from sales of records and accessories.
Since Music Cafй will be opened in January 2005, it will be designed to match the demands of customers who expect the best. It will be the most up to date record store in New York City. Part of this will be achieved by a trendy appearance and by the technology and services we provide. The cafй will be design to create a trendy cozy atmosphere, where customers may lounge. The store will provide the most updated and older music. The business will have computer stations, which allows customers to listen to samples of an artist CD. Music Cafй will provide an exceptional service by having an outgoing and enthusiastic sales force that has a good knowledge of music. Satisfactory customer service will create an atmosphere for customers to come back for more, thus making Music Cafй a successful and profitable business.
1.1 Objectives
Music Cafй’s objectives for the first five years of operation include:
The creation of a unique, innovative environment that will differentiate Music Cafй from competitors by bringing people with diverse interests together
Maximize revenue while minimizing costs
Create a long lasting customer relationship for the record store
1.2 Mission
Music Cafй wants to establish itself as a strong competitor among the music stores in New York City. Develop an innovative solution to the loss of CD sales by marketing new musical equipments and accessories.
1.3 Keys to Success
The keys to success for Music Cafй are:
The creation of a unique, innovative, and upscale environment that will differentiate itself from other record stores and cafй shops.
The establishment of Music Cafй will allow consumers to listen to music, while enjoying a great cup of coffee and baked goods
Providing exceptional customer services.
1.4 Risks
The risks involves with starting Music Cafй are:
Is there a demand for the services that Music Cafй offers?
Will there be a consistent base of consumers?
Do we have the right products that consumers can easily access and afford?
2.0 The Organizational Plan
2.1 Summary Description of the Business
Currently, the music store industry sales are falling due to the file sharing on the Internet and the sale of illegal copies of CD’s. Hence, the music stores are competing through their pricing advantages, and offering a variety of products. To set our business apart from the rest of the music store providers, Music Cafй will provide the consumers a place to listen to and sample the artists’ CD before the purchase, while providing a place to dine lightly. The atmosphere would be hip and trendy, while attracting young and old alike to an unusual genre of musical marketing.
Music Cafй provides various types of music ranging from Hip-Hop/R&B to Classical