The Apple Room: An evaluation for a business enterprise in developing a cocktail lounge in the Cathays area of Cardiff

Abstract

The cocktail culture originated from the United States of America in the 19th century, however, the precise origin and source of the name is unknown (Drink Focus 2009). The era of the cocktail began in illegal bars where the skills of bartenders developed predominantly using whiskey, gin or rum with sugar, water and bitters. With this in mind, in order for an establishment to succeed as an original cocktail bar, it would be wise to incorporate the history of the cocktail with American culture into the business. This project explores the important elements of business start up such as market research where by the author discovers people's idealism of a cocktail bar and researches whether the current market place will accept or accommodate such an establishment. Furthermore the author will attempt to recognise where the problems associated with starting a business derive from including financial concerns and taking measures to ensure customers are attracted to the venue. Mintel (2008) suggests that the hospitality industry is experiencing a challenging era due to the market currently being saturated with similar businesses and the recent economic recession which has led many establishments facing closure. For this reason the marketing strategy and financial forecasts will need to be thoroughly examined to ensure the business achieves success. The author endeavours to present an insight into developing a proposal to open a business which portrays characteristics of an entrepreneur. This project will thoroughly scrutinize the feasibility of the business and aims to provide an insight into the process of formulating a business plan.