An evaluation of the potential for a restaurant and live enterainment venue situated in Cardiff Bay.
Key, Rebecca Jayne
Cardiff Metropolitan University
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The proposed business venture is being established as there appears to be a gap in the market for a live entertainment venue which incorporates a restaurant area. 'Elation’ will have a unique selling point by offering a whole evening out in one location. The first floor will house a 100 seat restaurant specialising in locally sourced, seasonal ingredients. The menu will be charged at the set price of £25 and in order to be kept fresh and exciting it will change regularly incorporating seasonal produce. The entertainment club will be on the second floor and accommodate 75 people. The three course menu will be available to customers in the entertainment club in order to stand out from the competition and offer good quality food. Entertainment will be available in the form of comedy evenings and live music events with bands and open microphone nights. Both forms of entertainment will incorporate well known, established acts with local up and coming performers. 'Elation’ will aim to become the 'home' of some local acts and already existing events in order to gain a solid customer base. It will become the aim of the business to be a destination where customers can spend an entire evening with good quality food, drink and entertainment. 'Elation’ will become operational in January 2011and from looking at the financial forecasts it is clear that the business will be a profitable one, even with a small loss in the first year. It appears the company will make a small loss in the first six months, however the remaining six months and the consecutive two years will be profitable. The net profit ranges from £49,329 in year one to £75,561 by year three.
BA (Hons) Hospitality Management
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