I plan on opening this venue in my home town of Cumbernauld and my business will be named SWANK! As in short for swanky. Cumbernauld is a reasonably sized town and only has one really poor venue so it is my belief that SWANK will be a real money maker and beat any competition. My business will provide the following services;
• Live Performance Area
• Location Recording Facilities
• CD Duplication
• Rehearsal Room
• Bar
• Restaurant
My business will primarily be a live venue, though I plan on making the most of my premises by keeping it open through the day with a Bar/restaurant and a Venue at night. I plan on obtaining a late licence to allow my venue to be open till 3am enabling my business to compete with all bars/venues and night clubs. This decision will be more costly initially as I will need bar and kitchen staff, but over time I believe we will break even and should defiantly make a profit. After a few years, if successful, I would like to turn SWANK into a franchise and spread out into cities across the UK. As SWANK is primarily a live venue and will facilitate location recording, it will not have studio space. To optimise my business I plan on unofficially partnering with a fellow class mate who is opening a studio to enable to launch his clients further in my venue and in return he will enable my clients recording time at a special rate. This will optimise profit and diversity in both our businesses.
