An evaluation into the feasibility of establishing a healthy lounge bar, Its core aim is to provide healthy calorie controlled meals which are nutritious high standard and affordable along with beverages which are low calorie, low alcohol/diet drinks.

Abstract

The project aim was to research into the feasibility of setting up a healthy lounge bar specialising in calorie controlled food and beverages. To support this aim, objectives were devised that included; analytically reviewing the literature on business planning and business start-up, establishing the niche demand and benefits for a healthy calorie controlled lounge bar using primary market research, examining the legal requirements for setting up a restaurant business, identifying the financial resources required for start-up and growth, producing an accurate business plan using the results of the primary data collection, and evaluating the feasibility of the business, assessing whether it is achievable long term. The author carried out secondary research on current and relevant literature looking into; The Entrepreneur, Starting up a new enterprise, Business planning, The hospitality industry, Healthy Eating & Location. Primary research was carried out in the form of questionnaires and a focus group which backed-up the authors secondary research findings, showing a niche market had potential to be entered into. Findings showed that the overall market is worth £25bl with the eating-out market doubling in value over the past two decade. In line with this, tackling obesity and healthy eating is becoming more and more important. Primary research showed a menu containing calorie content would affect people’s decision on what to choose with 60% saying yes, and 24 saying maybe. It also highlighted that 89% of participants would visit the restaurant. The business plan was adapted to the business from a Venture Wales template to include Products and Services, management and personal, marketing, legal issues, finance and future developments. The primary and secondary research results were a basis for the business plan along with the author’s knowledge from working within the industry and undertaking an Event Management degree. A strong marketing strategy was devised by looking into the best types of media to use when communicating the business to the target market. Financial forecasts were drawn up for three years, which show the business generating good profits and its financial stability. Future developments in the form of a growth strategy were drawn up from the findings of a SWOT analysis. The strategy includes, renting the adjoining premises to sell healthy produce, expanding the business to other cities such a Gloucester and Bristol and offering themed evenings or live entertainment.