Business Plan : Wine Bistro

Running Head: Wine House

BU 501 Financial Accounting

Instructor: Will Taylor

Souththern States University

Wine House - Business Plan

Isabela de Carvalho

October 23rd 2019

Business Type

Many people have a dream to open your own business but most of the time this could be challenge.

How to start a business and ensure its success? This is an increasingly recurring question for new entrepreneurs.

The challenges of starting a business are not few. We can mention the bureaucracy, the pursuit of maintaining competitiveness and effective financial management.

To make matters even more complicated, in the midst of the political and economic crisis plaguing the country, more and more people decide to start and start their own business, seeking to escape the conventional working model and make their own schedules.

As a result, a considerable increase in competition for several sectors can be observed. The owner need find a differential.

According to Ward (2019), the financial section should include the following information Taking Stock of Expenses,The Income Statement,The Cash Flow Projection This information did not offer me any type of insight as to why you should enter into the wine business. Please do not waste a portion of your paper writing information that does not add to why you are entering into a particular industry.

My business idea is to open a wine bistro/store in Brazil. The wine is a classic beverage; this is good with food, meeting friends and even at working meeting. So, it is always to go to different places to appreciate it. Even better if the place has a good atmosphere, great food and you can take home some bottles.

The business statement will be offer high quality products to meet the needs of a

demanding public with excellent service, as well as providing greater

convenience and quality of entertainment to residents of Rio de janeiro,RJ,Brazil.

The business will have a variety of beverages like wines ( main product), champagnes, liqueurs. Also some of differentiated cheeses such as parmesan, gorgonzola, camembert, and wine tasting acessories such as glasses, personalized glasses, openers, bottles of crystal corkscrews and others.

The business will offers customers a specialized location for sale of specific and differentiated products from those found in the city. The service will be exclusive, with a staff expert knowledge wine and cheese. I will training my employees how to sell but also about the psychology behing consumer behavior.

The business name will be called Wine House, I chose this name because the population in my country like the English language in products and think it is a modern name. The business will be located in the neighborhood of Recreios dos bandeirantes.

I chose this area to open the business because it is a fine neighborhood located in the Southwestern area of the city. It is a really new neighborhood, residents belong to middle and upper middle classes.

My target audience will be residents of the neighborhood with great buying power who have recently moved from other neighborhoods, seeking a good quality of entertainment.

According to the 2010 Census, The population of Recreio dos Bandeirantes represents 1.30% of the population of Rio de Janeiro. In 1980 it had 5,276 inhabitants, and in 1991 it had 14,344 inhabitants. It suffered a population explosion from the 2000s onwards, from 37,572 inhabitants in 2000 to 82,240 inhabitants in 2010. There are 39,717% men and 42,523% women. Also, there are more young people than older people. The population is 18.7% young and 7.5% elderly.

In general, we can consider that potential customers for the business we are proposing there are three types of division: the locals, who live, work or study in the area of the business and visitors, which can be subdivided into visitors domestic and foreign tourists. Each of these 3 identified customer types is different and should be approached differently. Ok you need to be extremely careful with stats that do not support your assertion. Just because population is increasing does not mean that more people will want to drink wine. You need to provide statistics to show people like to drink wine in Brazil. Make sure you provide alcohol consumption information.

Nowadays is most common people looking for entertainment next to their residence due to numerous factors. The first one could be the violence in other neighborhoods, second the travel cost, because drink and drive, it not recommend. So, transportation as much as uber or taxi could be expensive. How do I know this information is true? Where is the research to support this?

I am thinking also to provide consumers classes to train sommeliers ( wine specialists) to increase their knowledge and interest in the consumption of the product.

After the classes, the business aims to create a fraternity ( group of wine consumers who meet to taste wines and talk), with the purpose of increasing the consumption of wines and cheeses.

Another strategy is send motivacional messages twice a month for consumers and registered companies in our database by email and/or mail with a intent of potentialize the marketing and offer product promotion.

Later, according to business growth, an alternative is to create a company website for strategic dissemination and knowledge of the range of products offered, as well as providing the sale of products over the Internet, with delivery and easy online payment via credit card.

With the registration of the client companies, in our database, we could gift the president company with a bottle of wine on the company's anniversary, as well as to offer employees a discount during the entire month of the company's anniversary.

The market research

According to wine consumers in rio de janeiro, which shows that 59% of people prefer to drink their wine at home, only 4% prefer to drink in restaurants and 32% in special events. Also, for 48% of respondents the drink is consumed occasionally, 34% once a week, 12% daily and 5% do not consume. So I am confused about your business model. If the majority of the people like to drink wine at home then that implies that they already have a brand that they are comfortable purchasing from their local stores? As you continue to develop your product, you have to make sure you focus on what your core competency will be. Why will customers leave their current wine makers to start drinking your brand?

According to market data, the brazilians drinks a year, on average, 1.8 liters per person. Compared to Chileans, which consume 17 liters, Argentines who take 23 liters and the European average (France and Portugal) of 42 liters, there is much potential for national growth. ( Quintino ,2016)

“The second research shows that the carioca market still has a lot of growth potential, as 48% of respondents drink the drink occasionally. Warmer regions, such as the state of Rio de Janeiro, can benefit from rose, white and sparkling wines to have the desired freshness in the summer, ”says Michele Ressutti Carvalho, Casillero del Diablo brand manager. ( Quintino, 2016)

According to research at www.academiadovinho.com.br, the market trend is for a large growth due to the use of wine as a gift product and the dissemination of wine as a product that helps in the prevention of diseases if used properly (cardiovascular diseases, decreased tiredness and stress) and also known as a power recharger. There is a growing appreciation of wine, creating the habit of consumption.

The products sold will have as main characteristics:

1. Diversification of products offered in the common market;

2. Quality and specialty in customer service (product consultants);

3. Higher quantity of products for batch deliveries;

4. Constant innovations;

5. After sales service;

6. Always fresh and well presented products.

The business location / environment will have the following characteristics:

1. Nice atmosphere and easy location;

2. Decorated style the ancient wineries of Italy with wine racks in

dark wood, all bottles tilted down but showing the label of each wine.

3. There will be plates and frames with wine history, drinking tips, photos

4. types of grapes used for the manufacture of the product, as well as the use of decoration in the form of grapes

5. The employees will be wearing uniforms with Italian-style details, all with name badges

Competition

The Wine House competition is divided between direct and indirect competitors. The co direct competitors companies are companies that market the same type of products / services that Wine House intends to market. Indirect competitors consist of products / services that, although different from the proposed one, may meet the needs of similar to our product / service and accordingly if we limit these needs to eat and drink, virtually any restaurant where food can be eaten and / or drinking a glass of wine or other beverage (alcoholic or otherwise) qualifies as indirect competitor. So we decided to focus on direct competitors.

The direct competitors are made up of 02 (two) large supermarkets, which offer the products but in a traditional way, with sale without service individualized and do not offer the diversity of brands available in the store. There is also four (4) smaller markets offering products but not work with the brands offered in the store.

There are not business in the region specializing in wines and cheeses like

proposal in this business plan. Although there are significant direct competitors, it is believed in the company's differentiation potential, which will lead to the creation of a specific clientele.

Balance Sheet and the Income statement examples:

1- Bistro and wine bar

2- Crimson wine group

If these are successful wine companies who operate in Brazil, what exactly makes them so successful? What are they doing that you can duplicate and what are they not doing that your business can take advantage of? You need to really strengthen your product base so that you can convince the reader of this paper why this wine business is a good idea.

23 out of 30.

References:

1- 2017 IBGE - Instituto Brasileiro de Geografia e Estatística. Retrieved from https://cidades.ibge.gov.br/brasil/rj/rio-de-janeiro/panorama

2- Balance Sheet and the Income statement. Retrieved from https://www.referenceforbusiness.com/business-plans/Business-Plans-Volume-10/Bistro-and-Wine-Bar.html

3- Balance Sheet and the Income statement. Retrieved from http://crimsonwinegroup.investorroom.com

4- Beagrie, S. (2007). How to write a business plan. Retrieved from https://search.proquest.com/docview/229873673?accountid=151051

5- Brinckerhoff, P. C. (1999). How to write your business plan. Nonprofit World, 17, 10-11.

6- Recreio dos Bandeirantes – Wikipédia, a enciclopédia livre Retrieved from https://pt.wikipedia.org/wiki/Recreio_dos_Bandeirantes

7- Quintino,F (2016). Diario do Rio.Retrieved from https://diariodorio.com/cariocas-preferem-beber-vinho-em-casa/

8- Ward,S (2019).How to Write the Financial Section of a Business Plan retrieved from https://www.thebalancesmb.com/writing-the-business-plan-section-8-2947026