Through the critical feedback we were given for the business proposal clearly outlines the negatives as well as the positives associated with “YOUR” Nightclub.
The Positives that we received towards the “YOUR” nightclub business proposal was that there was an increased demand for having another nightclub in the Bunbury area as well as the rest of the South west. What was also popular about the idea was that it would be one of the first nightclubs to serve food. To accommodate our customers we decided to put in place tough rules to prevent any anti-social behaviour. We also took into account all the critical feedback given to us by the public and may consider including them into it such as: adding a cut off time for early entry which will allow our customers to come in during our quiet times and pay half or no entry fee. There was also another great idea of allow our customers to receive their very own “YOUR” nightclub membership, this will allow them to be able to receive a discount on certain items whenever they choose to come. We also received overwhelming support for adding a free drink to accommodate entry but you may find there are a lot of legal issues associated with that idea plus with already lower drink prices as our normal operation, we may lose vital income. Another positive idea that we will strongly consider is adding Exclusive and VIP section to the nightclub to attract more high income earners. There was also a lot of support towards making the promotional campaign more unique to our business. To make our night club as personal and unique as possible we have decided to have personalised waiters with each bar staff having their own character for example, one may be a vampire, beer maid, french maid or even a fairy-of course we will have to chose our staff carefully to pull off this unique idea but this can be a huge advantage over our competitors if implemented properly success in this idea can be seen in the Draculas burlesque in Surfers Paradise, OLD. Finally many investors were worried that the Your Nightclub Bistro was not sectioned off but the photo on the next page demonstrates we have a seating and separate area to accommodate our food customers, the Bistro also works to get a higher number of patrons in at less busier times rather than just relying on the nightclub itself for revenue.
The Negatives on the other hand show off some of the weakness that can be linked with a business idea like this. These included little things such as our revenue figures did not match the current economic climate, as well as this there was also the idea that the Bunbury area wasn’t big enough to hold a third nightclub. This will then lead to there being too much competition in that industry to match the population size which could lead to a reduction in our profit margin, however this does not seem like a massive issue as we are quite affordable and accommodate for a slower economy. Other key areas that may also need to be addressed is the high wages associated with the industry. Investors also had the concern of hygiene and food in the nightclub but as we have a separate area for our bistro this is not a problem. Security is a key issue that needs to be addressed when running this type of business due to you needing to have enough to be able to control the patrons inside. To accommodate the anti-social behaviour that will be there amongst all the patrons we have state of the arc security systems, highly trained staff with well implemented security and safety measures and 3, 6 month or yearly banns for unacceptable behaviour . The location can also be seen as a negative due it being close to the Bunbury CBD as well as nearby residential areas which nightclubs can create high volumes of noise. Major issues involved with starting up a nightclub involve the extremely high start-up costs due to you having to pay: licence costs, a marketing campaign, food and alcohol to begin with and wages. We were also recommended to reduce our entry fee from $15 to $10.00 to increase profits. It was also suggested to increase our mark-up to about 300% on all food and alcohol sales and we have raised our mark up accordingly. We also need to look at the marketing plan we put in place because of the high expense of radio, printing costs and newspaper however in our belief no matter how good the idea is for it to be successful, it needs a good marketing plan to back it up and get YOUR Nightclub into people’s minds. Our target market from 18-26 year old was suggested to be increased to 18-30 year olds, although, we are targeting to the younger generation and this is our main source of income we do not want to waste resources and money trying to also target to the older generation, plus this would also make our promotional campaign less successful- this does not mean the older generation cannot come into our nightclub, it just means it’s not specifically designed for them. Not to mention our opening hours were too long for the area for 7 days a week trading, but we designed for the club only to be open the long hours on a Friday and Saturday and normal trading hours for the rest of the week, this will also help cut costs. Finally the last area we needed to improve was with our SWOT analysis and adding more depth as well as detail, however the idea of the presentation was to explain the key points to our business idea, not leave the presentation not remembering anything because too much information was thrown at them. The more detailed version of the swot has been included in this report.
Therefore through the use of critical analysis feedback “Your Nightclub” will be able to become a more realistic idea. If we can fix all the negatives with the business proposal and turn those into positives will make the idea a lot more realistic and improved. Which will allow “YOUR” nightclub to become a truly people orientated business.
The Positives that we received towards the “YOUR” nightclub business proposal was that there was an increased demand for having another nightclub in the Bunbury area as well as the rest of the South west. What was also popular about the idea was that it would be one of the first nightclubs to serve food. To accommodate our customers we decided to put in place tough rules to prevent any anti-social behaviour. We also took into account all the critical feedback given to us by the public and may consider including them into it such as: adding a cut off time for early entry which will allow our customers to come in during our quiet times and pay half or no entry fee. There was also another great idea of allow our customers to receive their very own “YOUR” nightclub membership, this will allow them to be able to receive a discount on certain items whenever they choose to come. We also received overwhelming support for adding a free drink to accommodate entry but you may find there are a lot of legal issues associated with that idea plus with already lower drink prices as our normal operation, we may lose vital income. Another positive idea that we will strongly consider is adding Exclusive and VIP section to the nightclub to attract more high income earners. There was also a lot of support towards making the promotional campaign more unique to our business. To make our night club as personal and unique as possible we have decided to have personalised waiters with each bar staff having their own character for example, one may be a vampire, beer maid, french maid or even a fairy-of course we will have to chose our staff carefully to pull off this unique idea but this can be a huge advantage over our competitors if implemented properly success in this idea can be seen in the Draculas burlesque in Surfers Paradise, OLD. Finally many investors were worried that the Your Nightclub Bistro was not sectioned off but the photo on the next page demonstrates we have a seating and separate area to accommodate our food customers, the Bistro also works to get a higher number of patrons in at less busier times rather than just relying on the nightclub itself for revenue.
The Negatives on the other hand show off some of the weakness that can be linked with a business idea like this. These included little things such as our revenue figures did not match the current economic climate, as well as this there was also the idea that the Bunbury area wasn’t big enough to hold a third nightclub. This will then lead to there being too much competition in that industry to match the population size which could lead to a reduction in our profit margin, however this does not seem like a massive issue as we are quite affordable and accommodate for a slower economy. Other key areas that may also need to be addressed is the high wages associated with the industry. Investors also had the concern of hygiene and food in the nightclub but as we have a separate area for our bistro this is not a problem. Security is a key issue that needs to be addressed when running this type of business due to you needing to have enough to be able to control the patrons inside. To accommodate the anti-social behaviour that will be there amongst all the patrons we have state of the arc security systems, highly trained staff with well implemented security and safety measures and 3, 6 month or yearly banns for unacceptable behaviour . The location can also be seen as a negative due it being close to the Bunbury CBD as well as nearby residential areas which nightclubs can create high volumes of noise. Major issues involved with starting up a nightclub involve the extremely high start-up costs due to you having to pay: licence costs, a marketing campaign, food and alcohol to begin with and wages. We were also recommended to reduce our entry fee from $15 to $10.00 to increase profits. It was also suggested to increase our mark-up to about 300% on all food and alcohol sales and we have raised our mark up accordingly. We also need to look at the marketing plan we put in place because of the high expense of radio, printing costs and newspaper however in our belief no matter how good the idea is for it to be successful, it needs a good marketing plan to back it up and get YOUR Nightclub into people’s minds. Our target market from 18-26 year old was suggested to be increased to 18-30 year olds, although, we are targeting to the younger generation and this is our main source of income we do not want to waste resources and money trying to also target to the older generation, plus this would also make our promotional campaign less successful- this does not mean the older generation cannot come into our nightclub, it just means it’s not specifically designed for them. Not to mention our opening hours were too long for the area for 7 days a week trading, but we designed for the club only to be open the long hours on a Friday and Saturday and normal trading hours for the rest of the week, this will also help cut costs. Finally the last area we needed to improve was with our SWOT analysis and adding more depth as well as detail, however the idea of the presentation was to explain the key points to our business idea, not leave the presentation not remembering anything because too much information was thrown at them. The more detailed version of the swot has been included in this report.
Therefore through the use of critical analysis feedback “Your Nightclub” will be able to become a more realistic idea. If we can fix all the negatives with the business proposal and turn those into positives will make the idea a lot more realistic and improved. Which will allow “YOUR” nightclub to become a truly people orientated business.