Hence, our bar will be part of a growing niche market: affordable entertainment.
This affordability will my business partners and I leverage in the future; due to stagnant liquor prices, there will always be an interest in going out to bars.
Totaling these numbers up, we may generate more than one million in sales; however, because it is our first year of business, we are expecting turbulence and potential problems arising.
By the end of our second year of business we expect to be profitable.
The business has a great chance of becoming successful.
To start, our marketing strategy involves one day potentially franchising the idea and brand.Because there needs to be final decisions made in companies, it is prudent that while every founder receives the same money for their input and investment, they are not all equal behind the scenes.Such a company would struggle to move forward with a long-term agenda.Although the tech industry is very appealing to both myself and other contemporary entrepreneurs, it is important to begin my business career doing something that will generate steady return before moving on to other projects.Firstly, the market is ripe for expansion in the food and beverage industry and appeals to me as a stepping stone toward other business endeavors, thus making it easier to grow the business quickly and expand my personal wealth.While many of our competitors create individual locations for their customers, we have the idea of expanding the scale and product of our business to a wider population.Should we be successful in creating this niche brand, it is feasible to think that we can net several millions of dollars per year in profit. Businesses which tend to recognize the strengths of every one of its components tend to be the most successful; we will structure an LLC in which titles are created and job duties and expectations made clear (Ferrell 2011). Imperfect information–crucial for the view of entrepreneur p. In this paper, we are going to talk about the view of the entrepreneur - the opportunity, the innovation, the risk and act. Which one it is crucial for an entrepreneur: to be possessed with individual qualities like a magnetism and stability, to be fearless and risk-taker or effective in different functions like finance, information, human resources, marketing, technology, communication. The relationship between uncertainty and entrepreneur has been considered from many authors. One of the main objectives of this essay is uncertainty.