Product Feasibility-We plan to start a sports bar under the business name; SportsMania Joint. Our target business location is Fairmount, Philadelphia. It will also offer nightclub events during the weekends and holidays. Fairmount is a host to thousands of sports fanatics that throng the town every weekend and on event days. It makes it an excellent location for a sports bar due to the population of sports lovers. Additionally, the area plays host to some professional sports clubs and a host of armature sports team thus will serve as a good idea to care for the clubs fans during sports days. These include five major sports clubs; Union that plays in the MLS, Eagles, an NFL team, Flyers, an NHL club, Phillies (MLB), and 76ers (NBA) team.
Business Sense-due to the vast population of sports fanatics coupled with several professional clubs, the business logic and sense is up-notch and spot-on. It business will take full advantage of the support base the teams enjoyed to make business sense and built a proper clientele base. The main setback to the business will be regulations on age. However, the joint will admit all customers till 6 pm and adults only beyond the time.
Market Feasibility-the industry already has some established brands that will pose serious competition. However, through innovativeness once the business opens will be our main weapon for competition. Nightclub events will enable the business to compete effectively with the established brands. We intend to use the business environment analysis to launch strategies to attract more clients in the due course. We will offer low-cost beverages on specific days to attract more customers thus compete with established brands. Also, we will use cinema screens to stream games for our customers who didn’t make it to the stadia.
Self-sustainability-the projected period for self-sustainability is three months. However, the time could be shorter depending on how customers respond to the new joint. We, therefore, project a start-up capital that takes into perspective the self-sustaining period.