Detailed Business Plan: Teatris Cocktail and Champagne Bar Project

This business plan outlines the establishment of Teatris, a cocktail and champagne bar located in Mayfair, London. It includes a comprehensive overview of the business, starting with a business summary, aim, and details about the core products and services, focusing on a wide range of cocktails and premium drinks. The plan delves into market research, customer demographics, and branding strategies, including word-of-mouth marketing and the use of promotional materials. Competitor analysis and market strategies, including pricing, promotion, and location, are also detailed. The plan covers operational aspects such as premises, equipment, legal requirements, insurance, and staffing. It also provides financial projections, including sales and cost forecasts, pricing strategies, and a cost table. The conclusion emphasizes the importance of market analysis and resource planning for successful business ventures, referencing supporting literature. This plan is a valuable resource for students studying business and entrepreneurship, providing a practical example of how to develop a comprehensive business strategy.

Built a business

Table of Contents
SECTION 1 .....................................................................................................................................4
1.1 Business summary ................................................................................................................4
1.2 Business aim .........................................................................................................................5
SECTION 2......................................................................................................................................5
3.1 Core products and services to be sell ...................................................................................5
3.2. Business product USP ........................................................................................................5
3.3 Other products or services to be sold by organization ........................................................5
SECTION 3......................................................................................................................................6
4.1 Typical customer group ........................................................................................................6
4.2 Customer based ....................................................................................................................6
4.3 Branding and marketing strategy .........................................................................................6
SECTION 4......................................................................................................................................6
Market research ..........................................................................................................................6
SECTION 5......................................................................................................................................7
Competitors analysis...................................................................................................................7
SECTION 6 .....................................................................................................................................7
Market strategy ...........................................................................................................................7
SECTION 7......................................................................................................................................7
8.1 Premises ..............................................................................................................................7
8.2 Equipment ............................................................................................................................8
8.3 Transport ..............................................................................................................................8
8.4 Legal requirements ...............................................................................................................8
8.5 Insurance requirement ..........................................................................................................9
8.6 Management and staff ..........................................................................................................9
SECTION 8.....................................................................................................................................9
Costs and Pricing strategy ..........................................................................................................9
SECTION 9...................................................................................................................................10
10.1 Sales and Costs forecast ..................................................................................................10
10.4 Costs table ........................................................................................................................12

CONCLUSION .............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
An entrepreneur requires specialised skills, knowledge and expertise for establishing as
well as running business. An effective as well as proper planning is very much crucial for setting
up of new business. Business plan can be defined as formal documents in which the objectives
related to the business are defined. It also consists of information about the strategy which will
be implemented in order to accomplish desired goals.
The report will include the business plan for establishment of Cocktail and Champagne
bar.
SECTION 1
1.1 Business summary
The business plan is to establish cocktail and Champagne bar. The reason for choosing to
start cocktail business is that the market of cocktail and Champagne bar is growing at very rapid
rate. Th addition to this, there is high scope of profitability in business. The idea for establishing
the cocktail and Champagne bar has been originated by conducting the market research. Decision
related to the implementation of ideas related to starting cocktail and Champagne bar has been
taken considering the increase in the demand of cocktail by consumers in the market. It is the
cocktail which will not get effected by changes in fashion or social trends (Bell and Bell, 2018.).
A cocktail bar is basically a small restaurant which mainly offers cocktail. Teatris is a
cocktail and Champagne bar which will be located in 68 Duke ST, Mayfair, London. It is the
location selected for establishing business as it is located in the center location of the city. Such
location has been chosen in order to provide customer an ease in accessing the products or
services offered by organization. An entrepreneur of Teatris is planing to offer the different
types of cocktails such as beer cocktail, cocktails with gin, cocktail with whiskey, cocktails with
champagne. An organization will have conductive environment which has been developed in
order to provide good experience to the customer. Bar will have capacity to accommodate more
than 100 people per time. Light music will be played all the time in bar for entertainment of
customer. An organization will hire team of highly skilled and talented workforce which will
assist firm in accomplishing desired business objectives.

1.2 Business aim
The main aim of the Teatris is to earn high revenue and profit. Vision of an entrepreneur
of Teatris is to achieve leading position in an industry. Mission of organization will be to
establish Cocktail bar business will make available a wide rage of Cocktails as well as other
drinks to customers.
SECTION 2
3.1 Core products and services to be sell
An enterprise is planning to offer wide range of cocktails and few starters as this will help
an enterprise in earning high profit and revenue (Miao, Qian and Humphrey, 2018.). Some
products which Teatris is planning to offer are alcoholic drink like Cocktails with absinthe,
cocktails with cachaça, Cocktail with sake, Coctails with liquerur, cocktail with fortified wines,
Cocktail with Vodka, Cocktail with Tequila, Cocktail with champagne etc. Tobacco etc. The
approx, Unique Pr incing of Cocktail with champagne will be the $10000.
3.2. Business product USP
The Unique selling price of the different alcoholic and Non-alcoholic drinks will be
based on the variety whether the drink is Mild or high strength liquid. The unique selling
proposition of Teatris is that organization is planning to include the collection of all most all
types of cocktails in their Menu (Hameed, Hussin and Basheer, 2017). Business entity will
include Tobacco and different type of drink in its Menu. Teatris will form a partnership with
other companies in same industry in order to provide additional services to customers.
3.3 Other products or services to be sold by organization
The other drink which will be offered by the Teatris will include the nine most expensive
drinks such as diamond is forever, Ono Champagne Cocktail, Martini on the rock, Diamond
cocktail, Sapphire Martini, Ridz-paris Sidecar, Platinum passion , original Mai Tai etc.

SECTION 3
4.1 Typical customer group
The expensive Cocktails drink such as Ridz-paris Sidecar, Platinum passion , original
Mai Tai etc. has been included in the Menu in order to attract people belonging to the high
income level group. In addition to this, Teatris is planning to target sophisticated drinkers, lover
of wine, girlie drinker , big spender. All these target customer group has been selected on the
basis of the information collected by company by executing market research (Nah,
Eschenbrenner and Koob, 2019).
4.2 Customer based
Teatris is planning to target the domestic people residing in London. In addition to this,
an organization is planning to sell its products and services to International people visiting
London.
4.3 Branding and marketing strategy
Word of mouth is the branding strategy which Teatris is planning to implement. Brochure
will be distributed in the market in order to inform people about the products or services offered
by organization. Marketing team in Teatris is planning to Make use of attractive hand bills for
generating the awareness and also to provide people with direction of bar. Banners and hoarding
will be used by the Teatris for promoting brand.
SECTION 4
Market research
It has been analyzed by conducting the market research that there has been increase in
heath consciousness among the people and changes in legislation have great effect on the
cocktail market. The other fact which has been found from the information collected during
market research is that recent trend in cocktail sector is that there has been increase in number of
consumers those who are interested in buying packaged beverages for home consumption rather
than at bars or nightclubs, it is the factor which can have great as well as negative effect on the
financial performance of company (Talip and Haris, 2018. ).

SECTION 5
Competitors analysis
The Teatris have to face intense competitions. An organization can gain competitive
advantage by controlling the distribution arrangement. In addition to this, an organization in
order to gain competitive advantage need to concentrate in providing high value proposition to
customers (Allen and Ward, 2018).
SECTION 6
Market strategy
Product :Teatris is planing to include the wide variety of drinks in its Menu.
Place: :Teatris business will be located in Mayfair 68 Duke in order to provide customer an
ease in accessing the products or services offered by organization.
Price:The prices of the drink will be also based on the demand of the drink by customers. Teatris
is planning to adopt the discounting pricing strategy at the initial stage of launch of business, as
this tactic will assist business entity in attracting more number of customers.
Promotion : Hoarding and banner will be use by Teatris for promoting the products or services.
Brochure will be distributed in order to inform people about the varieties of drink offer by firm.
Internet and social media will also be used for generating brand awareness (Ishak, Nordin and
Bakar, 2018).
SECTION 7
8.1 Premises
68 Duke ST, Mayfair, London, W1K6JU
1,466 SQ FT
135,000 p.a/ 11,250 p.m

8.2 Equipment
If being bought
Item required Already
owned?
New or second
hand?
Purchased
from
Price
Purchase of
insurance for
business
Yes New Insurance
company
$500
Designing of
Company logo
Yes $300
Purchase of the
Needed furniture,
electronic
appliances, office
appliances and
bar accessories:
Yes New Furniture shop 400$
8.3 Transport
Tetra will form transport company for distributing its goods or services to customers.

8.4 Legal requirements
Alcohol&Tabacco TAX&Trade Burou (TTB)
Departament of Alcoholoc Beverage Control (ABC Agency)
8.5 Insurance requirement
Commercial Property Insurance
Liability Insurance
General Liability Coverage
Liquor Liability Coverage
Assault&Battery Coverage
Workers Compensation Policy
8.6 Management and staff
 3 managers
 Kitchen- 2 pers
 Bar-3 pers
 Waitress- 4 pers
 Hostess- 2
SECTION 8
Costs and Pricing strategy
Tetra is expecting to earn 26 0000$ in first accounting year. During the second
accounting year an organization is expecting to earn revenue of $ 500000.
Product/service name
A Number of units in calculation 100
B Product/service components

Ono Champagne Cocktail,
Martini on the rock,
Diamond cocktail, Sapphire
Martini, Ridz-paris Sidecar,
Platinum passion , original Mai Tai etc.
C Total product/service cost $1000
D Cost per unit 1500$
E Price per unit 200$
F Profit margin (£) 5 00 (£
G Profit margin (%) 40%
H Mark up (%)
SECTION 9
10.1 Sales and Costs forecast
Month 1 2 3
Sales forecast
A Product/service
Assort
ed
Cockta
3000£ 5000£

ils
B Product/service
Alcoho
lic
drinks
1000£ 2000£
Costs forecast
C Product/service
Non-
alcvhol
olic
bevera
ges
500£ 1000£

10.4 Costs table
Cost item What is included and how you worked it out Total cost
Registration fee Total fee off getting business registered 740£
Hiring of business
Consultant 2400£
Stationery 400£
office furniture and
equipment 4000£
launching of business
website 700£
Cost of start Up
inventory 17000£
grand opening party 4000£
CONCLUSION
It has been concluded from the report that through market analysis is very much crucial
before planning to launch any business. From the above report it has been summarized that an
effective planning and arrangement of resources is very much essential in order to launch
business in successful manner.