The Locker Room: An evaluation of the feasibility of a sports bar in the centre of Cardiff

Abstract

The aim of this project is to evaluate the feasibility of a sports bar called the Locker Room, in the centre of Cardiff. The introduction looks into the reasons for choosing the business idea and background information on the area. It shows how the author plans to carry out the project and ends with the project aim and objectives. Next a literature review had to be conducted using various sources of information regarding starting a business, marketing and the industry. The business plan covers aspects such as premise, employment, marketing, legal considerations and finances. A market study was carried out to gather vital information on the market which was used to part create the business plan. The financial forecasts were positive and predicted a first year turnover of £595,093 with a closing bank balance of £163,568 which is a good indication that The Locker Room could not only survive but be successful. A SWOT analysis of The Locker Room showed that the strengths of the business were its unique selling point, its location, its large target market and the sporting culture in Cardiff. 'Weaknesses were identified as entering a competitive market and being a new business along with having no brand recognition. Finally there is an evaluation and discussion of the results of the business plan and market research. The results gave a very positive outlook for the business idea of a sports bar in Cardiff and so the author believes the initial aim was met.