Vinyll: An evaluation of the feasibility of setting up a themed cafe-bar, inspired by the cultural diversity of New York, in the centre of Cardiff

Abstract

The enterprise project evaluated the feasibility of setting up a themed café-bar, inspired by the cultural diversity of New York, in the centre of Cardiff, called Vinyll. The project details the main factors of the business planning process, including decision making, market research, financial forecasts, and an evaluation. The author lives in Cardiff, after a trip to New York learned of how much potential an exciting and original new venue could have in Cardiff’s city centre. After years of experience within the hospitality industry the author feels qualified to implement the planning involved with starting a business After conducted a detailed competitor analysis the author confirmed there were no similar venues to the proposed Vinyll in the city centre. Any real threats were located in the outskirts of the city in popular student areas. Secondary research showed a huge lull in the current bar and restaurant market, with the number of venues dramatically decreasing but the profitability of the industry increasing; meaning that consumer needs weren't being met. The author understood there to be a niche in the market and realised the potential Vinyll had.