If you're checking into the business model for bar crawl organizers or wondering what sort of information should go into a business plan for a company that sets up bar crawls, there are several things you should consider before pursuing the concept full-on. It's true that alcohol consumption doesn't waver during hard economic times (often the opposite phenomenon is the case!), so this is certainly a viable business model, but there are special considerations that you will need to take into account depending on the location where your business will operate. It can help if you already have a good relationship with the bars themselves, but you will still need to ensure that your legal and permitting issues are above board before getting underway. Also cover:
• What are the start-up expenses you face in getting underway?
• What marketing elements will you use to get people interested?
• How far will the bar crawl go – i.e., what is the geographic area it covers?
• What staffing needs will you have?
• What amount of money are you requesting with the plan and when can it be repaid or cashed out by an investor?
Your plan will require a pro forma financial model that shows the revenues you expect and the expenses you will face for 3-5 years. The end goal of this is showing a net profit figure that is in line with comparables from the industry but also appealing to the reviewer. The bar crawl marketing campaign can also be a place to shine – how will you outperform competitors with your marketing ideas? What channels will support this concept best – cable TV ads, Internet banners, referral cards and word of mouth? If you don't know, call MasterPlans. We have written 9,000 business plans to date and can get you going in no time. (877) 453-2011.
