Business for Higher Awards - Case Study Example

Case study People like to have fun and entertainment at Billiard Pool hall. This is a place that and other members of the society to can come and cool off. Since Todd had a good spot for making a pool hall, it is a good opportunity to make a large amount of money. Good management of such a business enterprise can make a lot profits depending on which business strategies you choose to implement (Needham 56). Being the manager of a pool hall may be perceived as a good business venture however, there are many challenges that you may face and this can make the business fail. As a manager you should clearly identify your target clientele. This can range from student to members of the public that frequently visit this enterprise. You should also have a good market for hardcore pool players who like to play the game on a frequent basis. This is one of the most important questions that you should consider when you want to have a competitive edge over the other competitors who offer the same kind of service. The pool hall needs a relatively large space. You will have to acquire space that will contain all the pool tables and space for other services that will be offered within the premises. This may include service station for offering foods and drinks, seat where spectators can sit and watch other people playing. This can increase on the revenues that will be obtained in addition to the sales from the pool table games. The steps below will help in the preparation of restructuring the billiards hall. A good business plan If Todd wants to increase his revenue at the pool bar, he must have a viable business plan which is able maximize on the sales at any particular time. He should be able to project the number of people who come to lounge at his pool bar and see this as an opportunity for making more sales. He should be able to make more sales when the students are in school than when they have closed. However, you can also make sales when the general public also visits the pool hall. You can be able to use the lower pool table rental to attract the general public. The lower pool table rental will bring a larger number of people which in turn, increases sales in drinks and food that is sold within the premises (Needham 49). Nonetheless, the prices should not be too low as this may reduce the amount of revenue that will be generated. Organize and design the layout of the space The overall design of the service counter, furniture where student can sit, the arrangement of the pool table is very important. It is important for the layout of the pool hall to be arranged in a systematic manner so that the the pool players and other people to have free space of movement within the pool hall. For all the services and products that are to be sold with the premises, it is important that they are sold at the service counter. Proper differentiation of the pool table and the service counter will make the overall design attract more crowds thus make more sales. Choosing of a memorable name The name that will be given to your pool hall will also play an important part of invoking expectation and creating a good mental picture for the new customers. When you are brainstorming over the name, think about the image that will make you protect our business. For example Black Tie Billiards is a good name that most customers will regard as being upscale and classy. You may not want to choose a name that is fancy. Selection of the pool tables The type of pool table will have a great impact towards the attraction of pool players. There are different types of pool table. The modern types of pool table are known to attract more player as they would want to be playing there every time. It is advisable for the pool tables have a good interior finish. However, this kind of pool table is usually expensive and need proper maintenance. Nonetheless, if you are designing a contemporary theme for the pool hall, you can choose to go with the modern style table (Needham 90). The coin –operated table seems not to attract many people so try to bring high quality table that may wow the crowds at the local bars. Place a menu at the your pool hall. A pool hall should have foods and drinks that are served under the service section. The pool players usually want to get a refreshment while they enjoy themselves. While keeping other people in the hall as being entertained with music or television, they may feel hungry and request for snacks. The revenue that you can obtain from the food and drinks will also add to the profits that will be realized your business. Performing an inventory schedule Todd should know that proper management involves a good inventory schedule and this is paramount for a business enterprise like this. You should keep up- to – date records of the inventory at the pool bar. If you lose track of your inventory such as the product sold at the service station or the pool table equipment, you will have to replace them constantly and this can be costly. The best way to ensure that your inventory is in check by setting a schedule. For example, in a pool bar you have to do an inventory schedule on a daily basis. This will make it easier for the manager to know which products are moving in and out of the business enterprise. After implementing all the above mentioned strategies, the business in most likely to witness good profits. However it is important to spend time supervising how the process is going. Through supervision you will be able to witness first hand what the customers are saying and what should be improved (Needham125). It is vital to create more time and investment in your business so that you will be able to make it better. Work cited Needham, David. Business for Higher Awards. Oxford: Heinemann, 2009. Print. Read More