Plastic Sound: An evaluation of the feasibility of setting up a live music venue with a combined record store in Cardiff
Harris, Jodie Gabrielle
Cardiff Metropolitan University
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The aim of this project is to evaluate the feasibility of setting up a live music venue combined with a record store in Cardiff. In order to achieve this aim, various objectives have been completed within the project. They include, writing a literature review, conducting market research, examine legislations, identify the financial resources, compiling a business plan, evaluate the feasibility and conclude the objectives. The biggest chapter of the enterprise project is the business plan; this has involved a great deal of time and research. The chapter discusses all the important aspects of business, for example: the business idea, market research, product and services, marketing plan, human resources, operations, legislations, financial resources and future developments. Completing this business plan has shown that the idea of setting up a new live music venue with a combined record store in Cardiff is feasible. This is because market research has shown that the live music and vinyl record industry is in demand, whilst the financial forecasts have shown that the business would be profitable. The business proposed is called Plastic Sound. It is based on Mary Anne Street in Cardiff city centre. The premises has two floors which allows the separation of the venue and record store; the ground floor has a capacity of 1,040 people. The venue will offer a service of live music entertainment on a daily basis offering unknown and well known artists each month. The record store will offer sell new and used records and will offer customers to trade in pre-owned vinyls, in addition to allowing them to play them on the stores record players. It is the hope that Plastic Sound will become South Wales’s leading live music and record store in 3 years.
BA (Hons) Events Management
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