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Are you planning to open a nightclub? You should consider hiring a nightclub consultant right from the beginning. This might seem counter-intuitive, considering that most businesses hire consultants when they’re already operational. But due to a nightclub’s nature of business, such a professional is necessary during the business-planning phase.
In addition, the combination of alcohol, lively crowds, and inflated egos often result in security issues that will give every nightclub manager nightmares. This makes operating a nightclub a completely different type of business, one where the need to minimize violence and lawsuits must be taken into account right from the beginning.
Therefore, the importance of a nightclub consultant that not only has the industry expertise and knowledge, but also a set of fresh eyes that can foresee possible problems and a range of nightclub scenarios. Furthermore, you need them to help develop a sound business plan.
What every nightclub business plan must have
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Executive Summary
This is where you give an overview of the theme of the nightclub, its main objectives, and the process with which these goals will be achieved.
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Company Summary
This answers the questions regarding the elements deemed necessary in your nightclub, such as location, entertainment, menu, services, gaming and distinctive design features. Inputs and insights from a nightclub consultant would come most handy in this part of business planning.
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Services
What services will your nightclub offer? Depending on your target market, services may include video and gaming areas, a bar selling alcoholic and non-alcoholic beverages, high-energy themes, and the like.
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Market Analysis Summary
In addition to a company summary, you need to define your demographic. This will dictate where and how you should set up your business. If you’re targeting the 21-35 age group, for instance, choose a location close to them, and find ways to draw such a crowd to your entertainment establishment.
As for your marketing plan, make sure to perform area analysis and site analysis, determine target market & demographics, identify competition, and plan for promotional campaigns.
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Organizational Plan
This should include an industry and business description, as well as a club’s design and equipment. Especially relevant is the to ensure that security is also in place to protect the club’s inventory, employees and patrons.
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Management Plan
What kind of structure should the business follow? How many employees are needed? This is where a nightclub consultant’s recommendations would come in handy. Most noteworthy are a club’s organizational structure includes a management staff, bartenders, disc jockeys, waitresses, and security staff.
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Financial Documents
Financial documents are one of the especially relevant parts of business planning, because you need to present them to banks, lenders or investors. That is, if you don’t have out-of-pocket capital.
These documents must include:
- Summary of financial needs
- Statement of loan funds dispersal
- Capital expenditures
- Revenues
- Daily revenue breakdown
- Daily staffing breakdown
- Pro-forma cash flow statement
- Income projection
- Extended cash flow analysis
In conclusion, among all the documents needed in nightclub business planning, are the financial documents. These are, understandably, the most time-consuming and difficult. As a result, you should seek professional advice from a nightclub consultant, like Perry Group. Consequently, if we can’t help you, we can point you in the direction of a company that can.
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