Cozeez: An Evaluation and feasibility study of opening a potential new student bar located within a heavily populated student area in Cardiff
Cardiff Metropolitan University
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The aim of this enterprise project was to evaluate the feasibility for setting up a new innovative student bar within the popular student areas of Cardiff and decide if the proposal is possible and a profitable opportunity, this aim was achieved through completing a series of objectives. The first objective was to complete secondary research in the form of a literature review, analysing relevant sources relating to consumer trends, target audiences and issues within opening up a bar. From information gathered within this section, primary research questions and topics were developed to correspond and form correlations between the two, further enhancing the author’s knowledge and understanding of the projects feasibility. The primary research was conducted through 80 questionnaires filled out by Cardiff-based students, two focus groups of six participants, and finally three interviews with bar managers from the main competitors which the proposed bar intends to compete with. An in depth business plan explaining the organisation was also a vital part within the project. This section re-iterated the feasibility of the venture and explains certain, procedures, plans, and methods that the company is to use. Within this section financial forecasts were produced which showed great promise for the profitability of the business. Key findings within research showed that students are still opting for a ‘spend now, pay later attitude’, and drinks such as cocktails are substantially rising in popularity. Research also showed there are many legislation and legal requirements within setting up a bar, and that the economy, particularly in Cardiff, shows promise for the venture as long as certain Unique selling points make the bar stand out from competitors. The project as a whole concluded that the venture itself would be a feasible option for the author however some recommendations were made for the project, if it were to be done again.
BA (Hons) International Hospitality & Events Management
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