Feasibility Study Essay

This study is developed to provide an entrepreneur with potential investment opportunity in setting up and operating a bar restaurant offering a variety of food and beverages items and accompanied by a quality service to the general public. This feasibility study gives an insight into various aspects of planning, setting up and operating a bar restaurant for the general populace. The study is designed to provide relevant details (including technical) to help entrepreneur in decision making by providing various technical as well as business alternatives. The study also allows flexibility to change various project parameters to suit the needs of an entrepreneur and the target market. Brief Background of the Study A bar restaurant is a food service establishment that serves food, non-alcoholic and alcoholic drinks — beer, wine, liquor, and cocktails — for consumption on the premises. Bar restaurants provide stools or chairs that are placed at tables or counters for their patrons. Some bar restaurant have entertainment on a stage, such as a live band, comedians, go-go dancers, or strippers. Bar restaurants which offer entertainment or live music are often referred to as music bars or nightclubs. Many bar restaurants have a happy hour to encourage off-peak guests. Bar restaurants that fill to capacity sometimes implement a cover charge or a minimum purchase requirement during their peak hours. Such barrestaurants often feature entertainment, which may be a live band or a disk jockey playing recorded music. The term â€Å"bar† is derived from the specialized counter on which drinks are served. Guests may sit or stand at the bar and be served by the bartender, or they may sit at tables and be served by cocktail servers. And restaurant caters complete set of meal to a target market, class of market or customers. So when the bar and restaurant were put up together, it has the expertise in serving food and beverages for their guests. The â€Å"back bar† is a set of shelves of glasses and bottles behind that counter. In some establishments, the back bar is elaborately decorated with woodwork, etched glass, mirrors, and lights. A bar restaurant’s owners and managers choose the establishment’s name, dà ©cor, drink menu, lighting, and other elements which they think will attract a certain kind of guests. However, they have only limited influence over who patronizes their establishment. Thus, a bar originally intended for one demographic profile can become popular with another. Objectives of the Study The objective of the feasibility study is primarily to facilitate us as a potential entrepreneurs in project identification for investment or putting up a business such as a bar restaurant. The project feasibility may form the basis of an important investment decision and in order to serve this objective, the document/study covers various aspects of project concept development, start-up, and production, finance and business management. The study will also determine if it is feasible for an entrepreneur to put up a bar restaurant in San Ramon Dinalupihan, Bataan. Market area, site selection, competition and financial analysis are made through observational research, surveys and literature review, and results of the analysis are concluded. Name of the Establishment In order to gain a success in establishing a food and beverage business, one should consider on creating a unique name but so easy to remember by the customers. Nowadays, you can find different establishments of food and beverages. So to be popular, you must be creative on choosing the best name for your business. Why ‘BARkada Lounge’? Barkada is a Tagalog word for friends. Having friend with someone is not that easy, it would take a while before you consider a person as one of your friends. At some point, you cannot consider even your family as a friend of yours, only if, you and her tagged a long for a while and knew each other’s secrets. In ‘BARkada Lounge’, you could bring any of your friends and you could also treat all the employees and staffs as one of your friends. Here, you can celebrate all the important occasions of your life and release the stress and burden that disturb you a lot, just like a friend. Our Logo The glass tankard with a full colourful music bar inside symbolizes for fun, entertainment and beverages. The two ovals shaped around the main logo: the red –which is outside – defines stop in our bar restaurant and; the green – which is inside – defines go and have fun inside. The stars that is about to fly defines everyone is a performer here, either you’re a singer or a dancer. Our Mission To provide a fun and entertaining bar restaurant service with top quality food that will exceed the customer’s expectations. Our Vision To be known in our chosen field and recognized as one of the best establishment providing the best eminence of foods that contribute to the growth of F&B and Hospitality Industry. Site Selection This section deals with the reason for choosing the site, site analysis evaluation, general area evaluation, local area evaluation and the vicinity map. Reason for Choosing the Site A restaurant’s location is as crucial to its success as great food and service. The location of a restaurant is the bridge between your target market and your concept. The most important aspect of site selection is to assure that all factors that could possibly have any bearing on the decision are considered carefully. Selection of a suitable site should come after the restaurateur has gathered the pertinent information and organized, analyzed, and evaluated it. The investigation should be exhaustive and follow a logical process. Decision factors vary in importance depending on the individual and the type of restaurant under consideration. The decision-making process in site selection must include large amount of information assembled and presented in a clear manner. If this is not done, the chance of making a wise choice is very slim. It is necessary to know the growth patterns of neighbourhoods to determine if a particular type of restaurant will be in demand for the foresee able future. The proposed location of ‘BARkada Lounge’ is at San Ramon Dinalupihan, Bataan. Dinalupihan is a first class municipality in the province of Bataan. A wide variety of different establishments such as food chains, grocery stores, mini bar houses, and the like are located in this place where people can find entertainment and relaxation. And as the demands of the increasing and unstable needs and wants of the community, they were much eager to experience a highly adaptive dining and trendy party setting in which you can found in Dinalupihan. Since Dinalupihan is in the middle of the two leading cities in the region III, which is the Olongapo and Balanga, the accessibility to both public and private establishments will definitely make the ‘BARkada Lounge’ easily identified to the public where people can enjoy a cozy atmosphere as well as foods and beverages, whether alcoholic or non-alcoholic. Site description and evaluation is the initial element in which that of determines the overall physical development of profitable well-planned and visually attractive food and beverage service facilities. Dinalupihan is a 1st class municipality in the province of Bataan, Philippines. It is the only land-locked municipality of the province. Dinalupihan is located 95 kms. east of Manila and can be reached through the Olongapo-Gapan route via the North Luzon Expressway. The town has a total land area of 4,460.00 hectares representing 6.69% of the total land area of Bataan. It is composed of 46 barangays with a total population of 92,289 people in 14,833 households. Dinalupihan is primarily an agricultural town whose main resources are palay, sugar cane, corn, root crops, legumes and fruits including livestock and poultry. Our proposed site for our future project is located at San Ramon Dinalupihan, Bataan. It is measured as 502 square meters. With this location, we are very confident that the project will be feasible and very effective to our chosen market. The relief varies from level, rolling and hilly to mountainous especially in the south and north-western sections of the area. The terrain of the municipality is gently sloping to undulating particularly the northern portion wherein cultivated lands are located. Between the northern and southern fringes are areas moderately sloping to rolling land with some scattered steep hills. The municipality is drained by numerous rivers and small streams with very few meanders radiating and sloping from the mountain groups down to the sea draining the whole area efficiently. Local Area Evaluation The study of our chosen location’s trading area, traffic, complementary and competing outlets, and vulnerability; parking surroundings, area changes, and cost meet our proposed needs as an entrepreneur. Visibility concerns the ability of potential shoppers to enjoy an unobstructed view of a store or its sign from a number of vantage points.It also considers ease of entrance and exit from the site. Local signage ordinances should be check and it is very useful to use the presence of distinguishing landmarks for an accurate direction of the site. Visibility is extremely important to the quality service food industry and popular-priced bar restaurants, because high visibility allows the consumer more time to change lanes and navigate the entrance to an eatery’s parking lot. The site is undeniably accessible to main arteries as the municipality’s public market going to Capitol Drive on the right side and vice versa. Locationally, accessibility represents the ease with which people move into and out of an area and, more particularly, into and out of a specific location. When determining accessibility, it is necessary to consider major and minor traffic arteries, number of lanes, speed limits, turn signals, turning lanes, curb cuts, and traffic backup, congestion points, and the existence of median strips. The value of a location also depends the accessibility of both public and private modes of transportation, such as customers and suppliers, to and from the site. The ‘BARkada Lounge’ will be very easy for residents and non-residents of the area to find, with the adequacy and potential of vehicular or passenger is unquestionably high, as we go with the flow of the continuous economy growth in the Municipality of Dinalupihan. Through pipe system, the Dinalupihan Water District has the full charge of water supply distribution in the area. The most common source of water is its ground water. Hence, the water supply in the Municipality of Dinalupihan is very sufficient. Major telephone companies servicing the town are Digital Telecommunications (Digitel) and Bayan Telecommunications (BayanTel). Cellular phones are also available through Smart/TalknText, Globe/Touch Mobile, Sun Cellular and Mobiline. Radio Communications Philippines, Inc. (RCPI), provides telegram and telegraph services. Electricity is provided by Peninsula Electric Cooperative (PENELCO). The Dinalupihan Water District serves 19 barangays while other areas use free-flowing pumps and deep wells. The town has a total of 8 banks, 7 schools, 3 hospitals/health facilities, and 4 recreational facilities. Traffic Counts The study consists of data collection, including existing traffic volumes and turning movement counts, projected traffic volumes and the identification of required improvements such as traffic calming devices. This information can be gathered either by an automated tube counter or manually by a County staff which pertains to position personnel who perform traffic counts at intersections, usually during the time in which rush hour arises, to count and record the volume of traffic passing through and turning movements of the vehicles through an intersection. Traffic counts were performed by researchers on the day and hours they predicted that might peak day or hours will occur. The number of vehicles that passed by the site was shown at the table below. ‘BARkada Lounge’ was based on the economic status of these people who will be our future target market as indicated by the type of vehicle they are in.