No major companies dominate; varying state liquor laws complicate the ability to form large chains. The industry is highly fragmented:
Sale of E — Cigars Sales Forecast One thing is certain when it comes to hookah lounge business, if your hookah lounge is cozy, relaxing, well stocked and centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.
We have been able to critically examine the hookah lounge market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Los Angeles — CA.
Please note that the above projection might be lower and at the same time it might be higher. Our Pricing Strategy The prices of our shishas, cigars, tobaccos, wines, beers, and other alcoholic drinks et al will be what is obtainable in the market.
We also have plans in place to discount our products once in a while and also to reward our loyal customers. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our products.
We are quite aware that one of the effective ways of promoting our hookah lounge is to create special internal promotions which in turn will help us achieve our aim of leveraging on word of mouth publicity.
Start — Up Expenditure Budget In setting up any business, the amount or cost will depend on the approach and scale you want to undertake.
If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.
The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a hookah lounge business; it might differ in other countries due to the value of their money.
This amount includes the salary of all employees and the CEO Owner for 3 months. Although they have plans to make the hookah bar manager part owner of the business after 5 or 7 years of services, but that does not stop him from reserving well over 80 percent stake of the business for himself and his family.
Since they are the sole financier of the business, they have decided to adopt the following means to generate start — up capital for the business; Generate part of the start — up capital from his personal savings and sale of his stocks Source for soft loans from family members and friends Apply for loan from my Banks N.
Hookah Bar Business Plan — Sustainability and Expansion Strategy The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. We know that one of the ways of gaining approval and winning customers over is to properly position our hookah lounge, ensure adequate security, availability of various brand of shishas, cigars, tobaccos, alcoholic drinks and excellent customer service et al.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more.
We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams. Completed Opening of Corporate Bank Accounts: Completed Opening Mobile Money Accounts: Completed Opening Online Payment Platforms: In Progress Application for business license and permit: Completed Purchase of Insurance for the Business: Completed Renting of facility and remodeling the facility: In Progress Conducting Feasibility Studies: Completed Generating capital from family members: Completed Applications for Loan from the bank: In Progress Writing of Business Plan: In Progress Recruitment of employees: In Progress Purchase of the Needed furniture, electronic appliances, office appliances and bar accessories: In progress Creating Official Website for the Company:Jul 09, · Hyatt Place hotels will get a facelift and make lots of changes, but only World of Hyatt members will get a free breakfast.
The ambiance at Float, the dramatic rooftop bar and lounge overlooking the Gaslamp Quarter, transforms throughout the day. A stylish oasis in the afternoon evolves into a vibrant evening nightspot.
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