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Hookah Bar Business Pitch
Transcript of Hookah Bar Business Pitch
www.facebook.com/ShishaKings Connect With Us: Hookah Bar and Grille Twitter
@ShishaKingz_12 Who Are We? Located in Downtown New Bedford
508-999-9191 DK johnson
Ryan Manasian The Bar What is a hookah bar? Experience From the moment you walk in. As stated before every part of our hookah bar and grill is about the experience .
The customer will be treated with the utmost respect the whole time they are in our restaurant. Services The Industry Our business will target college students and young adults. Why this demographic?
As young adults ourselves we know what people our age are looking for. College students don't always have the most money
However, they are usually willing to spend any extra money they have on something fun to do with friends on the weekends. Why would students "need" a hookah bar in the area? Competition Overview As a student myself I know that people my age are always looking for something cheap, new and fun to do on weekends as they may be bored with the normal weekend scene.
With our college discount and close by location, this could be a favorite new and affordable spot for many students. The Area Existing Hookah Bars South coast area
Handful of existing competitors
Competitors are out of state
Concentrated in one area
Proves viable existing interest
Lack of competition in our area
We provide local alternative Right now many people are traveling up to 40 minutes just to go to a hookah bar.
With our location in downtown New Bedford, that could cut your travel time to nearly a quarter!
You could even take a cab for a decent price.
From UMASS Dartmouth to downtown, it takes approximately 12 minutes. The only hookah bars in our area are Providence, Plymouth, Newport and Boston. Bored of average parties and bar scenes in this area? If your funds are limited, don't worry! We will be offfering a student discount to anyone who presents us with their college ID. For MA residents of the South shore area of New Bedford and Dartmouth interested in Hookah Bars, Shisha Kings is the only one within a thirty minute commute. Shisha Kings average Commute:
New Bedford Residents - 5 Minutes
Dartmouth Residents -15 Minutes
Competitor's average commute:
New Bedford Residents - 40 Minutes
Dartmouth Residents - 50 Minutes Beating out the Competition Take competitor's customer base Prioritize customer satisfaction Location
The reason customers will choose us is because we:
-Understand the customer like no other
-Atmosphere designed for customer
-Affordable -In our area we will dominate the local target market.
-We will also compete with the limited competitors surrounding areas such as Cape Cod, and Wareham.
-With our collegial atmosphere we will attract customers from areas that competitors are used to dominating such as Fall River.
-We will overcome our competitors because of our customer's demand for our fun college atmosphere.
-No Campus PD Financial Risks
Not enough income
Under capitalization Customer Dishonesty
Fake I.D's Hazards
Fire Hazards Connect through advertisements and groups on Facebook Flyers will be passed out to students at nearby colleges such as Umass Dartmouth and Bristol Community College Advertisements as well as company Twitter account for customers to follow. Word of Mouth 1. Shisha in two ways
- Sampling in the restaurant
- Available to purchase at the customers request. This will give customers an option to try the shisha before they buy for personal use with their own hookahs We will also be offering an assortment of colorful attractive hookahs for personal use anywhere. We will also be selling an assortment of coals for personal use. A little bit of History.
The first hookah bar dates back to only the year 2000
Set off a brand new trend in the U.S.
Immature Market --> Huge potential for profit Assortment of Beverages
Both high class, and affordable Delicious, attractive food Need for this service Our target market is in need of something to do over the weekends. Huge Potential for profit. Brand New Market Hookah Bar - an establishment where patrons share shisha, (flavored tobacco) from a communal hookah or nargile that is placed at each table. Hookah Bar - an establishment where patrons share shisha, (flavored tobacco) from a communal hookah or nargile that is placed at each table. There are approximately 7,580 undergrad students at UMASS Dartmouth and 9,000 at Bristol Community College.
In total that is 16,580 potential customers. -Friends -Good deals -Entertainment