My Sports Bar Franchise
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SSSSSSS S SSSSSS
BMGT 380
Professor ZZZZZ
September 9, 2012
My Sports Bar Franchise
Of the three business ventures options available, I have chosen the Sports Bar Franchise. My sports bar franchise of choice is the nationally recognized Buffalo Wild Wings chain. But before I can create a suitable plan for this new franchise venture, I must first define what exactly a sports bar venture is. Once I am able to effectively define what it is, I should then be able to draw up a winning business plan by selecting the appropriate tools necessary for the overall success of my new venture.
So what exactly is a sports book? Well, I would describe a sports bar as bar equipped with multiply television sets or projectors used to provide sports entertainment to its customers in addition to the regular bar services of selling a host of alcoholic and non-alcoholic beverages and food choices.
In the following paragraphs, Im going to define some key aspects of my Buffalo Wild Wings sport bar franchise venture such as its goals; who I want to target as my future customers; the type of goods and services I intend on providing for my future customers and of course how I want to provide these goods and services to these future customers.
Goals of the Franchise: The main goal of my Buffalo Wild Wings sports bar franchise is to create a place where every major television sports fan, regardless of age or gender, can escape to enjoy their favorite sports team or athlete compete while enjoying the many different menu and drink options we have available in a friendly business atmosphere.
Goods and Services Provided by the Franchise: At my Buffalo Wild Wings franchise sports bar, I will provide multiply menu items ranging from short order to select full menu items. I will also have multiply alcoholic and non-alcoholic drinks, with beers of all kinds being our signature product. Additionally, I will provide a spacious and casual hangout venue filled with multiple state of the art television sets to allow multiple customers the opportunity to catch their favorite team play. In order to make my sports bar a family friendly place, I will add a semi closed off dining area where patrons with underage kids can also enjoy their favorite team play without having to put on with the conduct of adult customers.
Target Customers of the Franchise: The target customer of my franchise bar is primarily the adult sports fan and casual beer drinker. However, we are targeting sports fans of all ages. I believe that by adding a semi closed off family dining area will make my franchise bar more appealing to families with younger sports fans.
Location of My Franchise Bar: I am sure you have heard the quote of location being everything. With this in mind, I have decided to strategically place my bar at the corner of Saint Rose Parkway and interstate 95, in Las Vegas, Nevada. I find this location ideal for the fact that this will put us less than a mile away from the M Resort Hotel and Casino, which is the southern most casino establishment on the worlds famous Las Vegas Boulevard. My reasoning behind wanting to stand right next to a mega casino hotel resort is the simple fact that this resorts race and sports book is not very family friendly. They dont allow customers less than 21 years of age in there since its a gambling establishment; they are also usually filled with second hand smoke. To get to this location inside the resort, customers are required to walk almost half a mile though a huge. I believe my franchise sports bar will be more appealing since most of my customers wont have to deals with all of the issues I just mentioned above.
Now that I have made some clear definitions of what my goals, goods and services to be provided, target customers as well as the location of my franchise sports bar, I must now review the business organization options of the sole proprietorship, partnership and cooperation as they are discussed in chapters 34, 35, 36 and 39 of our text in order to select the best fit for my new venture.
Sole Proprietorship is the business organization that does not define a separation between the venture and the owner. The owner has to share all liabilities associated to with the venture, and the venture shares all liabilities incurred by the owner. The owners personal assets are held accountable for all the income