No matter how splendid the idea of opening a wine bar may seem to you, there is a long road ahead if you want to run a prosperous one since you are dealing with a specialty bar that emphasizes a particular product, namely wine, you will have to develop a thorough grasp of your niche. Your customers will expect this. That is where the business plan comes in: it will not only help you secure funding, but it will help you define the concept and your target market to make sure your business falls in the right ground.
Wine Bar Business Plan
A wine bar is a bar or small restaurant where wine is the main drink available; a characteristic feature of many standard wine bars is a wide selection of assorted wines available by the glass or bottle. Many wine bars are defined on wines of a certain kind of origin, such as Italian wine or Champagne. The business plan offers a guide on how the business works and what is a wine bar all about.
Wine bars put a new spin on wine tasting. The market research on this plan seeks to remove the association of wine with high-end clientele by replacing overwhelming wine lists for a selection of those that are most popular among clients. These wine bars are furnished with nooks and cozy booths encased in rich colors and plush surroundings in hopes their guests will linger. In this section of the business plan, there is an explanation on the strategy to position the business in the marketplace by creating a welcoming and sophisticated atmosphere.
There are many essential aspects to consider in order to run a successful wine bar business, in this section of the plan there is a complete description of the operational elements you need to take into account such as location, inventory and storage management, key suppliers, staff, interior design and others. There is also a guide to develop a structured procedure on how to serve customers properly.
This section brings a solid marketing plan that clearly shows the approach to get into the marketplace and acquire new customers. It also presents what competitors are doing and how their strategies are lacking or how they can be improved. Building a sustainable path to acquire and retain customers is one of the hardest aspects of a well-though marketing plan, this is where the business plan will prove the most useful.
In this part of the business plan a market survey will be presented to make guide you in picking your target market among a wide range of segments. There are also several strategies that will enable you to reach out to various groups of people who are likely going to become loyal customers. These potential clients include corporate executives, politicians, celebrities, socialites, business people, government officials, college students and tourists. This is only one of the many segmentation criteria we will present in order for you to pick the most profitable and sustainable one.
Top of the list on our marketing and sale strategy document is generating a buzz for the wine bar via word-of-mouth and leveraging on road show. The model of wine bar in the business plan is mostly a neighborhood bar. The selling proposition is to have a collection of almost all the brand of wine in our bar, drinks and tobaccos et al. In view of that, the plan adoptsdifferent marketing strategies explained in this section to ensure that your business not only attract customers but generate repeated sales from them.
The financial plan section in the business plan is established with the aim of presenting the main revenue sources and expenses for the business. Along with that we will outline the capital requirements of the establishment in order to set up a profitable business with all that it needs to run smoothly.
The main sources of income for the Wine Bar are serving wine for immediate consumption, offering wine tasting for client, preparing and serving food for immediate consumption, sale of beer and liquor, the sale of tobacco, along with other more unusual sources such as leasing the place for corporate and business gathering and parties.
In this section you will find a complete description of all the major regular expenses as the costs of keeping the wine bar running, including staff salaries, rent or mortgage payments, telecommunications bills, utilities, storage and inventory management expenses, kitchen supplies, maintenance and others.