Business Plan for Carpe Diem Sports Bar and Sheesha Lounge

SOUTHERN CROSS UNIVERSITY
Student Name:
Student ID No.:
Unit Name: Entrepreneurship and Innovation
Unit Code: MNG00314
Tutor’s name:
Assignment No.: 2
Assignment Title: Assignment 2 – Business Plan Part B
Due date: 29 September 2017
Date submitted: 24 September 2017
Declaration:
I have read and understand the Rules Relating to Awards ( Rule 3 Section 18 – Academic
Misconduct Including Plagiarism ) as contained in the SCU Policy Library. I understand the
penalties that apply for plagiarism and agree to be bound by these rules. The work I am
submitting electronically is entirely my own work.
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Table of contents
1. Introduction 4
2. Venture description 4
3. Management 4
3.1 Legal structure 4
3.2 Operational management 5
4. Marketing 5
4.1 Target market 5
4.2 Communication strategy 6
5. Competitor analysis 6
5.1 Competitor rivalry 6
5.2 Threat of new entrants 7
6. Financial analysis 7
7. Key risks and challenges 7
Conclusion 8
References 8

Executive Summary
We welcome you to Carpe Diem, a Sports Bar with a Sheesha Lounge theme in the heart of Gold
Coast, Australia. With a hint of Arabian and western feel to the cafe, we would like to welcome
The Tourist as well as the local customer to experience something new. The purpose of this
report is to develop a rapport with investors in order to secure a seed funding that will help in
supporting the growth of the establishment. This funding will be also crucial during the initial
growth stage of the establishment. In order to lure a potential investor this report is presented as a
professional business plan which outlines the description of the venture, the structure of the
management, analysis of competitors and finances along with identification of the risks and
challenges that will be faced by the establishment.
The tourism Sector is growing at an unprecedented rate and the advent of globalisation has
provided the consumers with a choice. The location of the flagship is in Gold Coast which
experiences high volume of tourists round the year. With growing demand for something new to
add to the tourist attraction, this sports bar cum sheesha lounge has been conceptualised. The
establishment itself is quite unique from the traditional point of view and will act as host to a
large and multidimensional market. The name of the establishment is Carpe diem which means
to seize the moment. The customers will be able to relate with the name and also enjoy the
atmosphere. This report will help the investors to have an idea of the market that the
establishment plans to exploit along with the targeted market segments. The report will also try
providing an overview of the management structure that will run the establishment. Marketing
strategies for connecting with the targeted market will be analysed. To identify the viability of
the project, we will also provide a competitor analysis with special emphasis on the threat of new
entrants in the market. Financial analysis will help in understanding the segmentation of
finances.

1. Introduction
This report is a business plan for Carpe Diem, a sports bar cum sheesha lounge that will be
opened at Gold Coast, Australia. The report is being produced to attract potential investors who
will provide seed fund necessary during the initial stages of growth. The report will also provide
detail of the establishment type, management structure and marketing strategies to be
implemented. Further discussions will be made to understand the threat from competitors by
undertaking the competitor analysis. An overview of finances will be provided in form of
financial analysis. Additional risks and obstacles that can be faced while running the
establishment will also be discussed.
2. Venture description
Carpe Diem means to seize the moment. Carpe Diem is a Sports Bar with provisions of a sheesha
lounge which manifests Western as well as a rustic Middle Eastern-Arabian feel in it. This sports
bar cum lounge is very different from the traditional cafes present in Gold Coast. The visitors
will be experiencing a whole different environment in Carpe Diem (Read et al. 2016). Since the
cafe is partly a sports bar, there will be provision of beverages along with entertainment such as
snooker and darts which will be a brand new experience for the local customers. The guests will
be be able to choose from a wide variety of dishes ranging from Western to Middle Eastern. The
facility will also include a massive multimedia system compounded with an open layout and chic
decor which will be of great appeal to the masses. The establishment will also host sports and
celebrity events that will definitely act as a tourist attraction (Dees, 2017). The cafe is styled for
quick as well as casual dining. The multi-dimensional approach of the establishment is one of a
kind in Gold Coast and hence, it promises to be successful venture to invest in. The cafe will be
open to a wide market demographic which wants to experience something novel and interesting.
3. Management
3.1 Legal structure
During the initial stages, the Carpe Diem will run on a Cooperative structure. This structure has
been chosen because, the establishment will be formed by people having similar goals. Another
reason for choosing a cooperative structure is simple and enables collaborative operation as each
individual co-owner has a say in running the things. The benefits of a cooperative are that the
members will not be burdened with taxes as such establishments are not taxed on surplus. The
surplus is redistributed among the members. Organisations having similar legal structure also