Business Plan For An Upscale Bowling Lounge Essay

Options Option 1: The business should apply the strategy that target family by adding kid-friendly area. Pros: 1. By implement this kid-friendly strategy, Shelby Givens believes that Westlake Lanes can obtain 52000 annual traffic, the more traffic means that the business can generate more revenue. 2. The cost is comparably low for adding kid-friendly area, it needs $200K-300K investment, which is lower than another new business idea, building an upscale bowling lounge. And this option only needs little reconstruction, there is no significant remodel cost. Also, the maintenance cost is kind of low because the kid-friendly facilities will face low chance of damage. 3. Parents are usually willing to spend more money on their children for entertainment, data shown that parents will pay up to $20 per child for kid-oriented entertainment. Therefore, the kid-friendly strategy will have high sustainability to keep operating in this business for a long time. Cons: 1. The advertising cost is high for this new strategy. The business need to spend money and efforts on promoting the kid-focus facilities by using TV, radio, brochure, etc., these advertising tools are all need high capital investment. 2. By implementing this strategy, Westlake Lanes need to hire more employees to ensure that this new service will operate effectively. It will increase the employee salary expense by increasing part-time employee number to eight. 3. It will need time to set up the kid-friendly facilitiesShow MoreRelatedWestlake Lines3009 Words   |  13 PagesIntroduction Westlake Bowling Lanes is a small business in downtown Raleigh. It was founded by late Dane Sugar and is currently owned by Sugar’s Raleigh-based son, along with a pair of his close friends. During Sugar’s lifetime, he managed every aspect of the business, but after his death in October, 2008, the new board of directors failed in hiring a suitable business manager, until 2009, when they hired Shelby Givens (Sugar’s granddaughter). The company currently faces serious financial challengesRead MoreWestlake Lanes memo1036 Words   |  5 PagesGivens (General Manager, Westlake Bowling Lanes - here onwards WBL) FROM: Kumar Gaurav (Candidate # 75745133, UBC) SUBJECT: Recommendation towards business planning for WBL DATE: 2nd September 2013 Key Issues: Shelby Givens, G.M of WBL could not get the business on track to repay the funds the board had loaned it 16 months before. In Jan 2010, the business profited for the 1st time in two years. But, now she wants to decide on a future direction for the business, so that the debt payment can beRead MoreRecommendation Towards Business Planning For Wbl1061 Words   |  5 PagesGivens (General Manager, Westlake Bowling Lanes - here onwards WBL) FROM: Kumar Gaurav (Candidate # 75745133, UBC) SUBJECT: Recommendation towards business planning for WBL DATE: 2nd September 2013 Key Issues: Shelby Givens, G.M of WBL could not get the business on track to repay the funds the board had loaned it 16 months before. In Jan 2010, the business profited for the 1st time in two years. But, now she wants to decide on a future direction for the business, so that the debt payment can beRead MoreCase Analysis : Westlake Lanes Operated At A Loss For The Recent 3 Years2574 Words   |  11 Pagesanalysis, VRINE, and financial analysis are utilized for internal analysis. 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