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Product/Service Description, Situation Analysis
The WetSpot Saloon (or the Company) will be a music venue based in Lexington, Kentucky that will provide a casual, yet entertaining experience for its patrons. The area currently lacks a bar or music venue that appeals to young professionals. Most of the Lexington bars only appeal to college students who often crowd out the young professionals. The WetSpot Saloon does not plan on excluding the college students, but rather expand its patrons to include the young professionals. The WetSpot Saloon will do this by mimicking the sophisticated, but fun atmosphere of the bars in Europe, more specific the Watering Hole. However, the Company plans on adding its own local personality and engaging the audience in a personal setting.
In Lexington, KY area has a few small music venues and one big venue. The problem is that the small venues are not set up for the touring bands that make the Nashville, Bowling Green, Louisville, and Cincinnati circuit. They do not have the capacity size, greenrooms for the artist, or ability to have enough staff. The big venue is so big that the bands that are just starting out or just signed do not always have the audience backing to make a concert possible because it will not promote enough revenue to make it possible. WetSpot Saloon will be set up to have both. The company will have an indoor stage big enough to accommodate the touring and local bands. The Company will also have concerts and festivals outside on a professional stage for larger crowds. WetSpot Saloon will provide their own equipment so all the bands will be able to put out the best sound and experience for the patrons. The equipment will include everything for sound, lighting, and being able to broadcast or podcast the event.
The WetSpot Saloon will provide premium service and entertainment in an enjoyable atmosphere to capture its target customers. A couple of pool tables, dart boards, and many television...