Bar/club business Bar/club business Every innovative idea brought up in business can turn to be a worthwhile success if proper strategies are put in place in the implementation. Think of starting a company in the alcohol world, in the major capital cities in the world. In every country, it is less likely to find people not drinking especially during weekends and holidays. This is a business opportunity that most of the times do not suffer any loss with good management in place. The first step would be to create a brand name within the home country so that when the business goes overseas, the business will be widely known.
International advertisement will also enhance its growth. The optimum goal in this project will be to having a brand that remains attractive to create a long-term value in different countries the business will operate. The business should aim to create a brand name in parent country, do feasibility study on best bar locations and alcoholic products in different countries. If this takes place within a short period, this means the product will create a market niche, receiving high profits in the future.
Creating the value of the product is essential to every business, since this offers a competitive advantage to the product, creating of superiority in the market and thus reporting huge profits every year. The bar/club business is consistent. It will require huge financial muscle as startup capital and aggressive advertising. Once the brand name is known, the business can concentrate on stability and fighting off competitors. BibliographyDuncan, K., 2010.
Business greatest hits a masterclass in modern business ideas. London: A. & C. Black.