Venture Concept No.2

Venture Concept Number Two

Opportunity 

            Having been at the University of Florida for two years I have noticed the lack of venues that offer a nightlife experience that is more than a bar with a dance floor. This lack of diversity opens the door to a brand new way to have fun. A bar that houses a restaurant, arcade, ice cream shop, putt-putt, and a driving range all serve unmet needs here in Gainesville.

            Currently, customers satisfy their needs of a night out with a trip to mid or a walk to downtown. The other set of customers my business serves to is the casual or avid golf fan. In Gainesville the avid golf fan has a variety of options. The UF Mark Bostic Golf Course, WestEnd, or Ironwood. The casual golf fan looking to play mini-golf or hit some range balls with their friends needs a spot to go to.  Most customers are loyal to the experiences they currently have. Students like midtown, and avid golf fans like the traditional courses.

            The opportunity for a restaurant/entertainment venue is huge in

Gainesville. There is nothing else like it. The window of opportunity will be open as long as other venues remain cemented in the traditional ‘bar only’ venue.

Innovation

            The Swinging Gator offers customers a full entertainment experience. Multiple features such as a mini-golf course, arcade, ice-cream shop, driving range, and bar/grille give all types of consumers different opportunities when they arrive. The hours of operation for mini-golf, driving range, arcade and ice cream would be from 8am-10pm on weekdays and 8am-11pm on weekends. The bar/grille will be open from 11am-1am Monday-Thursday, 11am-2am Friday-Sunday. The prices for mini-golf will be 6$ for children under 12, 8$ for UF students, and 9$ for adults. A small bucket of golf balls for the range will be 4$ and a large bucket 8$. The arcade games brought in will set prices themselves. The bar/grille will have happy hour everyday from 5pm-7pm.

Venture Concept

            Customers will eventually switch to my business because its services are unique to this area. However, it will be difficult for consumers to switch. As a college student I know, once something ‘works’ for you, stay with it. That is why it will be a challenge for students to switch to my bar: they already have past experiences and enjoy other bars.  My competitors range from other bar/grilles to golf courses in the area. The vulnerability of these golf courses is the lack of a fun atmosphere. Having an outside bar that accompanies the driving range or a putt-putt course where your kids can play while you enjoy a drink is something my business has, that they don’t. The weakness of other bars is the limits they have on what they offer. No other bar offers the entertainment that the Swinging Gator would.

            The Swinging Gator would have about 25-30 employees. The different employees would be, cooks, waiters, bartenders, and cashiers. Also on specific occasions a golf instructor would come by to give a weekly golf clinic on the range.

3 Minor Elements

·      My “unfair advantage” is that my service allows people to stay for an extended period of time. Some customers may come in looking to hit a bucket of range balls for half an hour but end up staying for 2 hours having dinner or watching football at the outdoor bar. Also, students under the age of 21 have a venue to go out to at night.

·      The next step is branching out to provide food delivery. If a consumer cannot make it to us, we will make it to them.

·      In five years I would like to see this venture be so successful that other locations open up. Whether it’s in another college town or ten miles away, two locations is the goal. As a person, the Swinging Gator is the stepping-stone I would use to hopefully one day open up my own golf course back home.

In general, the feedback I received was positive. However, there were some helpful suggestions to make my business better. One tip was to target the Gainesville student population that is under the age of 21. This target consumer is someone who isn’t old of enough to drink alcohol but still wants a venue to go out and have fun with their friends. Other feedback I received mentioned that Gainesville doesn’t have much like my business.

The main change I made to my Venture Concept was recognizing the competitive advantage I have over other venues by offering entertainment that college kids under the age of 21 can enjoy.