Watching sports is a group activity. It can be tedious to go to other people’s homes. People need a place they can go to watch, listen, eat, and drink their favorite beverages. After a night of entertainment, they return home to their families happy.
Take Five Sports Bar and Grill strives to be the premier sports theme restaurant in the Southeast Region. Our goal is always to be ahead of the rest. We want customers to have more enjoyment during their leisure times. We provide more televisions with more sporting events than anywhere else in the region. Each table has a table-top audio system that allows customers to listen to their favorite program without interruption from background noise. We combine menu selection, atmosphere, ambiance, and service to create a sense of “place” in order to reach our goal of overall value in a dining/entertainment experience.
Bars and taverns can be found in many local areas. They offer a variety of alcohol-based and nonalcoholic drinks, as well as bar food. Bars and taverns used to be places that could establish relationships with vendors or suppliers in order increase brand awareness. Bars and pubs have tables and barstools. Entertainment may include live music, comedy shows, dancing, or bands.
To draw specific audiences or increase attendance, you may offer specials. Cocktail bars often offer light snacks and h’’orders. It can be attached as a part of a restaurant or hotel. Wine bars are for people who enjoy fine wines. Martini bars cater to individuals with a penchant for martinis. There are gay bars, bars for lesbians, bars for bikers and singles, as well as gay bars, bars for lesbians, bars that cater to alternates and singles. The person attending is usually identified by the adjective that describes their type. Minors may be denied access to certain areas based upon the individual or time that they are accompanied. Most municipalities regulate hours of operation and zoning laws.
Technomic’s BarTAB (Trends in Adult Beverage), report revealed that the Top 100 Nightclub & Bar venue venues in 2013 earned $1.5 billion in total revenue. Nearly two-thirds (26.2%) of operators surveyed experienced revenue increase in 2012. More than three quarters (31.4%) reported revenue rises in excess 10%. The industry overall was outperformed by the top nightclubs and bars. Bar and nightclub revenue grew 3.9% between 2012 and 2013. The industry will continue to face competition from other industries, such as restaurants and people who prefer to drink at home through 2023.
Although the distilled spirit industry is booming, federal and state excise taxes are a key part of the industry. The National Center for Policy Analysis in 2005 reported that thirteen states were seeking increases in taxes and fees related to alcoholic beverages. The taxes on distilled spirits averaged $0.21 per ounce. According to the Distilled Spirits Council in the United States, “distilled spirit is one of most heavily taxed products in the United States.” More than half of the price that consumers spend on a typical bottle of distilled spirits goes toward a tax of some kind.” The result is devastating for the entire hospitality business.
Distilled Spirits Council reported that supplier sales were up 4 percent in 2014 to $23.1 billion, and total U.S. volume growth increased 2.2% to 210 million cases. The U.S. market’s total retail sales of distilled spirits are estimated at nearly $70B. This represents hundreds of thousands jobs in the hospitality and more than $20 billion in tax revenues to all levels of government.
The U.S. Department of Commerce reported an increase of 5.2 per cent in adjusted alcohol sales, to nearly $9.2billion in June 2008, as compared to the year before. According to the NCPA, $4.4 billion was collected by the Federal Excise Tax Administration from the distilled spirits category in 2006. This included $3.6 billion from beer and $800 million from wine. State taxes also reached almost $5 billion during the same period.
Of the total 58,829 establishments in 2009, 20.2 percent were classified broadly as drinking places, which accounted for 11,502 establishments and $4.
1 billion in 2009 revenues. The general classification included 6.2 percent with 3,523 companies and $858.9m 2009 revenues. 20.4 per cent were considered bars with 11,569 establishments. 31.2 percent were considered taverns. The smaller segments of this market were comprised of bars, wine bars, and beer gardens. The market share of night clubs, discotheques, and cabarets was 8 percent. This equated to 4,541 establishments that generated $1.89B in 2009 combined.
Take Five Sport Bar and Grill wants to be the most popular sports theme restaurant in Southeast Region. Our goal is always to be ahead of the rest. Our goal is to make our customers’ leisure time more enjoyable. We offer more televisions featuring more sporting events than anyone else in the region. The tabletop audio control system at every table allows the customer to enjoy the selected program in a clear and uncluttered environment. To achieve our ultimate goal of providing entertainment/dining experiences that are both enjoyable and affordable, we combine the best of atmosphere, ambience, food, and service.
The net profit for the first year will be $445,000. As 10 months of operations have been completed, the confidence level regarding final first year numbers has increased. Actual start-up costs, sales revenue and operating expenses for the first 10 month are accurate.
Financial Highlights by Year
Financing is Required
We will use $625000.