Business foundation Essay Example | Topics and Well Written Essays - 1000 words

Business foundation - Essay Example The interactive entertainment programs will encompass frequent contests, karaoke, games, and music hosted by an in-house DJ charged with event programming for the lounge and main room. Key features of target market The primary sources of revenue in a nightclub include high-volume traffic, alcohol and food revenues, and door charges, accompanied by nominal spending. The key to success in this business lies in availing excellent service that leaves a lasting impression on the clients, vibrant entertainment atmosphere and product quality strict control over the costs, and prudent management of internal finances and cash flow to allow upward capital growth (Sengupta 2005, p.4). The growth of the metropolitan area presents numerous opportunities that can support a high-end, dance-themed nightclub. The accessibility of a central location, demographics, and weak direct competition offers major advantages to the established of a nightclub in the Oxford area. The proposed venue will avail a v ibrant social atmosphere for young people aged 21-35 years age group living in and around the Oxford area. The new venue will specialize in availing high-energy themes, offer beer, wine and a broad range of liquors and mixed drinks, as well as a quality video and gaming area. The club will also sell non-alcoholic beverages such as bottled water, juices, and soft drinks, as well as a â€Å"casual† food menu comprising of appetizers and small entrees at low cost. Market Segmentation College students The target market for a nightclub is largely young people aged 21-35 years (both male and female). This client base is mostly outgoing and single who enjoy going out and meeting new people or friends. The proximity of the club to various colleges and universities will aid the resort to attract students within and around the Metropolis area. The distinct dance, as well as other themes, will most likely attract students towards these entertainments. The market segmentation of the stud ents’ client includes those between 18-26 years. The majority of this target market will be single male and female students interested in exploring the night life entertainment in their young age (Moss 2009, p.68). Single young business professionals The other target market for the night club entails young professionals aged between 25 and 40years. Since the area enjoys vibrant business activities, the corporation operating in the area will most likely have employed young professionals, who have sufficient resources for recreation, and who are likely to spend some of their time in night clubs holding parties and get-togethers. The availability of multi-themed entertainment activities, young professionals are likely to spend a significant portion of their income for such entertainments. Married couples This target group encompasses young married couples aged between aged between 30 and 40 years, who either have or do not have kids. The middle-aged couples enjoy sound financial income and are likely to b interested in spending a weekend out for parties. Tourists/Vacationers The Metropolis, Oxford area can be highlighted as one of the most significant tourist area for visitors, especially international tourists. Choices Nightclub will provide multi-level dance, pop entertainment, with a comprehensive range of entertainment and restaurant themes within its facility. The tourists can be attracted to the facility by generating vocational packages with diverse airline agencies