Business Plan for Setting Up an Entertainment Center
The client had drawn up a business plan for setting up an entertainment center. The offerings planned for this center included a specialty/ theme restaurant, a family restaurant, a night club, a coffee bar, and others. The responsibility for ensuring that the entertainment center concept is implemented, was assigned by the client managing committee to a sub-committee. The first step in the implementation process was to identify partner(s) that were willing to invest in setting up and managing the entertainment center. The client requested UC to develop a business plan to set up an entertainment center.
To develop a business plan for the client, UC took the following steps:
- A database of over 1000 prospects from the foods and beverages, hospitality, cinema and entertainment industries was built, and relevant leads were sought
- An advertisement was placed in a leading daily newspaper to solicit responses from interested parties from select cities
- A direct marketing exercise was also conducted to generate interest in the business concept
- Site visits were organised for interested parties
- Based on a concept and positioning match with proposed concepts, an initial shortlist of prospective partners was prepared
- Prospects with suitable backgrounds and track records were invited for interviews by the sub-committee
- Post interviewing, these prospects were further shortlisted and offers were invited from them
- A final shortlist, based on the attractiveness of offers was prepared and presented to the sub-committee
- Negotiations were conducted with the shortlisted prospects, and one party was identified as the ideal partner for the client.
The client received help in identifying the ideal partner, and was provided with a detailed business plan to set up the entertainment center.