Objectives Based on the analysis of the practical

Objectives

 

In order to
success, Hookah Space lounge bar seeks to achieve many essential goals and
objectives for the period of first three years. Bringing the culture of
high-quality hookah to become as an idea of unforgettable leisure and
entertainment. Providing to people a wonderful service to be able to get only
positive feedbacks from the clients. Maintain actively working social media
websites as Facebook and Instagram, due to fast technology devices use growing
and its development, by gaining more than 1000 followers in a first year and
more than 5000 in a third year. Also, to become one of the first leisure places
in Calpe and surroundings on TripAdvisor platform by the end of the first year
after opening. Hookah Space is going to turn to popular location in the
hospitality field in the sphere of lounge bars and places of interest.
Furthermore, one of the most important objectives is, to create a perfect model
of a profitable bar, which afterwards can be converted into a franchise with
fundraising. Hookah Space lounge bar is going to maintain profit growth at
approximately 30% per annum by the end of a second year and create a base of
returning customers at least at 30% by the end of the first year. This way to popularize
the idea of hookah lounge bar among local residents in the first half of year.

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Key to success

 

Based on the analysis of the practical
implementation and all the market in general, some main factors are defined to
bring Hookah Space lounge bar to success. First, giving to visitors what
they want corresponding the quality to the price, following the law of supply and demand, which consists of the
result of the availability of service and the desire for that service has on
price. Then hiring a good team,
establishing loyalty at work and building a base of loyal customers is also
very important. After acquiring loyal
and satisfied customers get good feedbacks from people, thank to whom
the market expanding will be growing in double faster and stronger.

 

1.1      
Company summary

 

Hookah Space
lounge bar is going to be one of the first lounge places in Calpe providing
high-quality hookahs and unique cocktails, satisfying all the needs of
customers. It is important to pay attention on the fact that almost 50% of
population of this town are foreigners, who all have different tastes,
preferences and culture. The idea is to create a place able to satisfy all the
tastes and preferences according to having a good time on vacation. Due to that
in this little but very touristic town there are no hookah-focused places, when
many people, especially tourists, are interested in it, this business can
become profitable in a short-term period. The business will earn revenues
through the sale of high service and top-grade products (multiple types of
hookah, pipes and tobacco), cocktails made only by specialized and licensed
bartenders and food in the form of appetizers and snacks. The customers are
expected to be tourists and locals of different ages seeking for a good place
with good service to have a great leisure time. The target group of clients is
mainly 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 Eastern
culture people live, which means that this place could be interested for people
from whose culture the main idea of the lounge was brought.

 

To create a
strong and loyal team is going to be one of the most important points of hookah
lounge bar business. With the fact that Calpe is an international town, people
of different cultures can be hired, this way building loyalty and trust between
customers of different nationalities and staff. Dealing with situations
according to customers is going to be easier because of knowing what language
to speak with them, better understanding their preferences, needs and culture.

 

Company ownership

 

Hookah Space
lounge bar is going to be owned by Valeria Karganova and Vladislav Borouhhin,
two new-coming entrepreneurs in the hospitality field, who are finishing their
studies in the degree program of Hospitality Management and Restaurant
Entrepreneurship in the UK and Finland.

 

The business
seeks 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 of
funding, and other 60% is going to the founders’ shares between two of them.

 

1.2      
Products and services

 

This
business will focus on a combination of high-quality leisure place, which will
have a wonderful service providing big selection of cocktails, top-grade
hookahs, made by professionals, and unique chill-out music, which will make
people feel comfortable and come back repeatedly.

 

Hookah
Space lounge bar will specialize in alcoholic and non-alcoholic drinks, made
only with high-quality and premium beverages. What is more, besides high wine
and cocktails selection this place is going to offer to the customers
assortment of teas, coffees, juices, smoothies and non-alcoholic cocktails, for
those, who is not interested in drinking alcohol or smoking hookah.

 

The
initial menu will also include snacks and appetizers, like cheese assortments,
fruit assortments, different salads and desserts like homemade cakes, ice cream
and sorbet. The snacks menu will be developed later.