Sublime Wines Ltd - An evaluation of the potential for a specialist wine tasting event company based in Cardiff

Abstract

The purpose of this project is test the feasibility of a specialist wine tasting company based in South Wales. The project looks into what's needed to set up and run a business enterprise, and identifies key areas of the industry that this business is looking to enter. Firstly a Literature Review will be carried out, discussing and analysing any secondary data that is available on the skills that are required to set up an enterprise, further reading into the industry that this project is looking at will also be used. It is hoped that this will lay the foundations for the rest of the project. The next section is titled the business plan, this will initially look at the marketability of the enterprise. It will cover the primary research that has been carried out and will discuss the findings. From this a marketing strategy that the business plans to put into action will be discussed, this will cover the four P's of marketing. Also included in the business plan is information on how the enterprise plans to operate on a day to day basis. This covers aspects such as the taxation involved and the insurance cover that is required. Further information will be supplied concerning the equipment and the start up costs needed to get the business into a position where it will be able to operate efficiently. And finally a PEST and SWOT analysis will be carried out. Financial forecasts for the first three years are supplied in order to establish the financial feasibility of the business. The accounts include Cash Flow Statements, Profit and Loss Accounts and Balance Sheets. At the end of the project the results found will be analysed and evaluated, with further recommendations for any future plans for the business being discussed.