Objectives In order tosuccess, Hookah Space lounge bar seeks to achieve many essential goals andobjectives for the period of first three years.
Bringing the culture ofhigh-quality hookah to become as an idea of unforgettable leisure andentertainment. Providing to people a wonderful service to be able to get onlypositive feedbacks from the clients. Maintain actively working social mediawebsites as Facebook and Instagram, due to fast technology devices use growingand its development, by gaining more than 1000 followers in a first year andmore than 5000 in a third year. Also, to become one of the first leisure placesin Calpe and surroundings on TripAdvisor platform by the end of the first yearafter opening. Hookah Space is going to turn to popular location in thehospitality field in the sphere of lounge bars and places of interest.Furthermore, one of the most important objectives is, to create a perfect modelof a profitable bar, which afterwards can be converted into a franchise withfundraising.
Hookah Space lounge bar is going to maintain profit growth atapproximately 30% per annum by the end of a second year and create a base ofreturning customers at least at 30% by the end of the first year. This way to popularizethe idea of hookah lounge bar among local residents in the first half of year. Key to success Based on the analysis of the practicalimplementation and all the market in general, some main factors are defined tobring Hookah Space lounge bar to success. First, giving to visitors whatthey want corresponding the quality to the price, following the law of supply and demand, which consists of theresult of the availability of service and the desire for that service has onprice. Then hiring a good team,establishing loyalty at work and building a base of loyal customers is alsovery important. After acquiring loyaland satisfied customers get good feedbacks from people, thank to whomthe market expanding will be growing in double faster and stronger. 1.1 Company summary Hookah Spacelounge bar is going to be one of the first lounge places in Calpe providinghigh-quality hookahs and unique cocktails, satisfying all the needs ofcustomers.
It is important to pay attention on the fact that almost 50% ofpopulation of this town are foreigners, who all have different tastes,preferences and culture. The idea is to create a place able to satisfy all thetastes and preferences according to having a good time on vacation. Due to thatin this little but very touristic town there are no hookah-focused places, whenmany people, especially tourists, are interested in it, this business canbecome profitable in a short-term period. The business will earn revenuesthrough the sale of high service and top-grade products (multiple types ofhookah, pipes and tobacco), cocktails made only by specialized and licensedbartenders and food in the form of appetizers and snacks. The customers areexpected to be tourists and locals of different ages seeking for a good placewith good service to have a great leisure time.
The target group of clients ismainly going to be from the United Kingdom, Russia, Holland, Germany, Spain,and so on. What is more, Calpe is a place where many Arabic and Middle Easternculture people live, which means that this place could be interested for peoplefrom whose culture the main idea of the lounge was brought. To create astrong and loyal team is going to be one of the most important points of hookahlounge bar business. With the fact that Calpe is an international town, peopleof different cultures can be hired, this way building loyalty and trust betweencustomers of different nationalities and staff. Dealing with situationsaccording to customers is going to be easier because of knowing what languageto speak with them, better understanding their preferences, needs and culture. Company ownership Hookah Spacelounge bar is going to be owned by Valeria Karganova and Vladislav Borouhhin,two new-coming entrepreneurs in the hospitality field, who are finishing theirstudies in the degree program of Hospitality Management and RestaurantEntrepreneurship in the UK and Finland. The businessseeks angel investor for the first hookah lounge bar opening.
Afterwards, 40%of shares is planned to be given to future investors in the initial round offunding, and other 60% is going to the founders’ shares between two of them. 1.2 Products and services Thisbusiness will focus on a combination of high-quality leisure place, which willhave a wonderful service providing big selection of cocktails, top-gradehookahs, made by professionals, and unique chill-out music, which will makepeople feel comfortable and come back repeatedly. HookahSpace lounge bar will specialize in alcoholic and non-alcoholic drinks, madeonly with high-quality and premium beverages.
What is more, besides high wineand cocktails selection this place is going to offer to the customersassortment of teas, coffees, juices, smoothies and non-alcoholic cocktails, forthose, who is not interested in drinking alcohol or smoking hookah. Theinitial menu will also include snacks and appetizers, like cheese assortments,fruit assortments, different salads and desserts like homemade cakes, ice creamand sorbet. The snacks menu will be developed later.