An evaluation into the feasibility of setting up a mobile cocktail bar for festivals and other outdoor events.
Cardiff Metropolitan University
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The aim of this enterprise project is to assess the feasibility of setting up a mobile cocktail business to operate up and down the UK festivals. To do this author identified and set out a list of aims and objectives in order to bring the project to its completion. After extensive research of the current, relevant available literature on Entrepreneurship and enterprise, business start ups, the hospitality industry, the outdoor events industry, trends in the market, cocktail and mocktail research, primary research was undertaken in a form of an online questionnaire which was completed by 100 respondents. The questionnaire results were collated from festival websites and assessed the feasibility and potential demand for such a business that the author proposes. This information collected allowed the author to undergo construction of a detailed business plan to support the business concept. The development of the project aims and objectives helps steer and guide the plan in the right direction, with regards to the business aims and objectives helped to support the business idea. Using results from both primary and secondary research a marketing strategy was developed and implemented. The plan has covered all aspects of a small businesses development and growth. Research and results show the business to be feasible, though the current economic climate could prove to be a major obstacle. Of the 100 people who responded to the questionnaire only 9 stated they never attended festivals, 11 stated they went to 5+ festivals a year and only 9 said they would not buy a cocktail. The average price overall that they would pay for a cocktail was calculated at £5.53 with females averaging £5.45 and males £5.67. The financial forecasting of the business, what the business would need to be established and the legal requirements were studied in depth. Also a SWOT analysis was devised to assess the current state of the business and whether it could enter the market. The author then discussed analysed and conducted the feasibility of setting up the proposed business, although the author feels that all objectives were completed efficiently, with guidance from the project supervisor, financial forecast were completed to the best of the authors ability and a considerable amount of time effort and passion was put into the final project.
BA (Hons) Events Management
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