Developing a Concept for a Beverage Business: My Proposal
Malaysia is a majority Muslim population country but its cosmopolitan capital has many watering holes which following the global trends. One of the population bar nowadays is cocktail bar. The market for cocktail bar business has continued to soar because that cannot go out of fashion as people would always appreciate good cocktail drinks. Based on a market survey and feasibility studies and there are wide range of people who would frequent went to bar on a regular basis. Location is vital for operate a business therefore we have to ensure the area has clientele and footfall to sustain a business through the entire week and not just the weekend. Ensure that budgets are stuck to rigidly as cash flow is the most important thought so do not get swept away with luxury purchases before paying the staff wages. Lower the wage percentage and increase profits to minimise the expenditure.
In my idea of a beverage business is operate a cocktail bar in Kuala Lumpur, Malaysia. The name of the cocktail bar is B&W cocktail bar which stand for Black & White as our signature cocktail coloured with black and white. The reason why I operate a cocktail bar is because there are special choices of cocktail for different customer and cocktails customisation idea is superbly excellent that attracts guests to come back for more variations. Operate a cocktail bar in Kuala Lumpur area as it is a fastest growing metropolitan regions in South-East Asia in population and economic development. Operating a cocktail bar in a competitive location must be special compare to other bars therefore I will come out with some special bar layout and menu that full of delicious and amazing cocktail. A well thought out concept could make a huge difference that impacts on the ambiance. From ergonomics to efficiency, the layout design can have a lot of effect on bartenders and customers whether the structure manifests in dropped bottles, a poor designed cocktail bar plays host to a lot of drawbacks in the long run.
In B&W cocktail bar, we set to make various type of cocktail such as beer cocktail, cocktail with vodka, cocktail with gin, cocktail with rum, cocktail with ouzo, cocktail with champagne, cocktail with cachaca, cocktail with sake, cocktail with whiskey, cocktail with fortified wines, cocktail with tequila, cocktail with a liqueur as the primary ingredient. Apart from that, we also set various type of snack and food like hot wings, mozzarella sticks, pizzas, and etc. The best bar food typically pairs well with drinks that served at the bar and it's always a good idea to delve into the bar menu with some idea of foods that can complement drink selection. A host of other foods and drinks to all customers conducive environment that is specifically designed for socializing and networking. The signature cocktail in bar is Black & White cocktail which is a combination of blackberries, spiced rum, simple syrup, fresh lemon juice, egg white and activated charcoal garnish with angostura bitters. Freshly baked Caramelised onion & goat’s cheese pizza is one of the signature food in our bar as we are using handfuls of baby spinach give a good hit of minerals, low-fat pizza topped with sweet onions, tangy goat cheese, thyme and olives. A sprinkling of sunflower seeds adds extra nutrition and bite for the pizza.
Cocktail menu is more than just a list of various drinks to order from and it is also an essential tool for running a profitable operation. There is a lot of consider during design a cocktail menu but we can create a successful menu if we know our clientele well, include drink descriptions, update the menu, use creative names for the drinks, strategically format prices, include origins of the drinks and visual emphasis on high profit items. The prices for our cocktails and other products will be what is obtainable in the market. In fact, we will try as much as we can to sell below the industry’s average to attract loads of customers. We also have plans to discount our products once in a while and reward our loyal customers. One of the important platform that we intend leveraging on to promote and advertise is on word of mouth publicity like the world’s greatest salesman Joe Girard by using his < Girard’s Law of 250 >. Our strength as a company are wide range of cocktail, excellent customer service, excellent facility, excellent location and excellent ambiance for a bar in capital city. For our perceived weakness will be we are new to business and we may not have financial muscle to support the kind of publicity that our company want. Apart from that, we have unlimited business opportunity available to cocktail bar in a busy city. We are operating a standard cocktail bar in a perfect location for the kind of business that we run also fact our bar facility is highly secure.
Main target market for our bar are business people, college students, tourists, socialites and corporate executive. Our competitive advantages are control of distribution arrangement, aggressive marketing that given the high level of competition and economies scale. Competitive edge is we have enough space to accommodate the number of customers in our bar can contain per time and secure payment platform. The prices of our cocktails and other products that we sell will be obtainable in the market. In fact, we will try as much as we can to sell below the industry’s average to attract loads of customers. We will also plan to discount our products once in a while and reward our loyal customers. The payment method that we have chosen is cash, credit cards, online bank transfer, check and mobile money transfer is to enable our clients make payment for the purchase without any stress on their part. We are aware that different customers prefer different payment options as it suits them but at the same time, we have to ensure the financial rules and regulation of the Malaysia. The total cost for operating a cocktail bar in Kuala Lumpur will cost around 250,000 USD for rent, furniture, food, drinks, and etc. In a nutshell, above are my idea of beverage business and reason to operate a cocktail bar.
