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West Palm Beach Florida 3. Restaurant supplies pots, pans, cutlery, and cooking utensils will come from Grover Restaurant Supply. These monitors and hand held units will provide point of sale menus, inventory control analysis, credit card sales, and office management.
Bartender theft and employee theft can quickly be the financial demise of any business. The POS systems will alert the chef when inventory levels are low and the bar manager when to place his order. Comment cards will be available throughout the bar and management will keenly review these comments, making adjustments as needed.
For example, the owners might consider open mic nights, creating a Trivia Night or providing other options as deemed acceptable by the customers.
Problems with driving while intoxicated have changed the drinking patterns of people in United States. The growing concern with health and fitness toward the end of the 20th century took its toll on the bar industry. No major companies dominate; varying state liquor laws complicate the ability to form large chains.
The industry is highly fragmented: First Research Personal income and entertainment needs drive demand.
The profitability of individual companies depends on the ability to drive traffic and develop a loyal clientele.
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Large companies can offer a wide variety of food, drinks, and entertainment, and have scale advantages in purchasing, financing, and marketing.
Small companies can compete effectively by serving a local market, offering unique products or entertainment, or providing superior customer service. The industry is labor-intensive: However, competition among bars and taverns is intense due to the large number of bars in the target market.
When combined with a small industry growth rate, market share gains by one bar will be at the expense of others. Competing for the neighborhood bar are other small neighborhood bars and larger chain restaurants with full service bars. The slower economy resulted in some patrons purchasing from grocery stores, package stores and convenience stores.
The following is summary of the comparables: The restaurant specializes in Dominican food and drinks. With a focus on black beans and rice and mojitos, the theme is quite different from the subject.
The restaurant and bar has 33 employees. The bar has a "C" credit rating and does not provide food. The neighborhood bar has a sports bar theme. More of a sports bar, the subject will compete indirectly with this competitor.
The bar has 6 employees. This neighborhood bar is one of three in Palm Beach County that are privately held by the same owner. Tourists and workers on their lunch hour — the bar is centrally located in Palm Beach County making it an ideal location for both tourists and workers alike.
While patrons can find similar bars in the trendier downtown and midtown locations, the quieter, smaller bars offering finer foods and jazz venues, are all but overlooked in the suburbs.
The local distributors support this business venture as well and based on the area demographics and are anxious tap into this lucrative market. The marketing strategy is designed to target this group. This target group was selected primarily because of the location of the bar and grille, the setting is designed to appeal to this target market and the current target market does not have any venues comparable to the subject.
In fact the closest direct comparables are located eight miles away in downtown — the majority of locals would prefer a spot closer to home. Studies have shown that although consumers are drinking less alcohol, their tastes are becoming more discriminating. The wine selection will be somewhat smaller but just as impressive.
Food offerings will consist of standard bar fare along with, finely prepared daily gourmet specials. The owners will rely on POS system for orders, inventory control, accounting functions, time management and other functions.Browse through Florida businesses for sale on BizBuySell.
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