Bar Ego business enterprise: An evaluation of the feasibility of setting up a bar within St Mary Street, Cardiff.
Cardiff Metropolitan University
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This Enterprise project involved the planning of setting up a business. The business of choice was a Bar which was to be situated in Cardiff’s ever- evolving city centre. The purpose was to analyse the market and undertake all the relevant research and planning into the feasibility of setting up a successful business which would maintain its profits. The project included devising Aims and objectives of the Bar, SWOT analysis, market research, and analysis of existing research. The naming of The Bar, which turned out be 'Bar Ego' fitted suitably to the characteristics of the aims of the project. The Bar was to be unique by offering a funky/trendy and sophisticated outlet offering quality customer service in a relaxing and up market atmosphere which will hopefully fill a gap in the Market. In order to successfully cover all the aspects involved with a business set up, a business plan was devised to demonstrate the feasibility of the Bar for potential investors. Within the Business Plan financial forecasts, legal obligations and business formats were completed. Testing the feasibility of Bar Ego was achieved through primary and secondary research. The primary research consisted of a questionnaire which was given out to three hundred people to investigate the target market and determine the wants and needs of consumers as well leisure spend and problems associated with nightlife at present. The results were analysed and used to gain a better understanding of the market and Plan a Bar based on the findings. The secondary research highlighted the current state of the market by reviewing publications within the field of study. The research methods undertaken allowed the author to gain a better understanding of the current markets and trends as well as the demands of setting up a business to test the feasibility of starting up a Bar.
BA (Hons) Leisure and Sports Management
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