Wine Bar-Business Plan
Wine is fast becoming an essential accessory for the ‘noveou-riche’ and upwardly mobile urban population of modern India. The astounding 25% growth rate of the wine sales and over 10 million liters of wine production In India bears testimony to the fact that wine consumption as an industry is emerging as a lucrative business opportunity. Currently, only places that cater to the wine appetite of the populace are select restaurants, pubs and nightclubs.
A niche for a place exclusively for wines exists and that is yet to be filled for a high-volume, upscale, quality-driven chain of wine bars. The Barrel Room would be the first wine bar chain in the industry offering a high quality product and a better quality service in an intimate, warm and inviting atmosphere. The Barrel Room would be developing wine drinking as a life style concept where the wine is not only seen as an object of style and sophistication but also extension of day to day habits.
The Barrel Room aspires to be the trendsetters and transform wine drinking the way Cafe Coffee Day and Barista transformed the coffee in India. The first “Barrel Room” will be located in Mumbai or Delhi depending on an initial market survey as these two cities have maximum wine consumption in the country.
Our other locations will be select affluent markets that support our business model like Bangalore, Pune, Goa, Pondicherry ; Hyderabad. Products/Services Offering The Barrel Room would offer a comfortable and relaxing atmosphere and a chic experience to the customer.
To whet the appetite of the wine lovers, we would offer not only imported wine from countries like France ;Italy but also the Indian wines along with small entrees and appetizers like pasta, flavored cheese, deserts, mock tails and sandwiches. Classic books and classic movies from all around the world will also be on display for sale. Wine lovers would be treated to Wine chocolates and wine pastries which would be made in-house and sold under the Barrel Room brand.
Wine cakes will be made based on orders placed by customers.
Corporate events and parties can also be hosted in the premises of the Barrel Room. For amateurs and budding wine connoisseurs, our highly trained staff will be taking wine tasting and training sessions. We will also host wine tasting challenges for wine experts. Wine merchandise like Wine totes, Decanters and wine glasses under the barrel room brand would also be on sale.
Barrel Room would also have a very dynamic and consumer friendly website where customer can order their wines, make reservations in advance and can get information about our latest promotions and events. Target Market
The Barrel Room caters to customers who are upwardly mobile and open to experimenting with different cultures. The eclectic mix of sports, movie and fashion celebrities in India are currently on a socializing spree with many of them opening up restaurants on their own. The barrel room can be a breath of fresh air for them as it is different and offers them a taste of high and aristocratic life style. As for businessmen and women of the new age, this will be a meeting place for networking, corporate parties, business deals and other business meetings like performance appraisals and C-level interviews.
The barrel room can provide a complete atmosphere for corporate parties along with on demand live music and wine tasting challenges (which are common place in intellectual get-togethers these days).
Apart from these, another important segment that we cater to is the tourists and expatriates. This community is well travelled and would welcome this concept warmly. The collection of classic movies, music and books from all around the world would capture their attention even further. X-Factor Product Differentiation: (a)The Barrel Room will be first of its kind outlet in India, serving exclusively wine and related products and accessories.
The Barrel Room would offer significantly higher quality of products coupled with upscale and sophisticated environment.
(b)Mumbai and Delhi have the maximum wine consumption in India. The Barrel Room would start its operations from one of these cities and would gradually expand to other parts of the country. (c)A dynamic website for online sales and promotion would give a definitive competitive edge over the other players. Competitors: Our direct competitors are bars and lounges that serve wines along with other Liquor, also the select restaurants and night clubs which offer wines as a supplementary product to their other offerings.
Goals and Objectives We aspire to become the wine bar of choice for the community, by providing a higher quality experience than any competitor . We intend to create a wine bar chain that quickly achieves profitability and sustain an attractive rate of return (20% or more annually) for our investors with a starting capital of $250,000.
Objectives: (a)Make ‘The Barrel Room’ the No. 1 destination for wine drinking in the country starting with either Mumbai or Delhi. (b)Achieve sales of $300,000 in 1st year. (c)Achieve a 15% net profit margin in the first year and 20 % by third year.
The break-even will be achieved in 3 years.
(d)Create a firm concept in the industry and begin expanding to other metros within 1 year. Management Team Currently, the team is headed by Major Naveen Khare, a HR professional with 10 years of experience in the Indian army behind him. Aiding him in the venture are his two partners Ms. Deepthi Menon, a marketing professional with five years of experience in IT services and Mr. Nishant Jain, a supply chain professional with three years of experience in supply chain consulting. All the three members have a MBA degree from SP Jain Center of Management, Dubai-Singapore.
Major Naveen Khare is well travelled and is a wine enthusiast. He is the chief strategist of the Barrel Room. Mr. Nishant Jain, with a strong background in supply chain, will be in charge of day to day operations and administration. Ms.
Deepthi Menon, with a strong background in IT services and marketing of Social projects will be taking care of branding and marketing activities. We are planning to rope in Kerry Damskey of Sula Wine yards and Subhash Arora, the founder of Indian wine academy as our advisors. These wine evangelists can guide us in our buying and hiring decisions and acts as consultants for any major strategic move.
