Business Plan Proposal: The Ducks Poker Room The Ducks Poker Room will be a new for-profit gaming club primarily hosting players of versions of the card game known as "Poker." The Ducks Poker Room will also offer alternate games, including but not limited to promotions for prize pools involving tickets to college basketball and football games. Finally, The Ducks Poker Room will host patrons who are not playing poker. Targeting the citizens of Eugene, Oregon and the students of the University of Oregon, The Ducks Poker Room has Business Plan Objectives to: Provide exceptional facilities, equipment, service, staff and merchandise that create a highly positive impression on our core customers; Consistent entertainment atmosphere and product quality; Capitalize on excellent location opportunity; Launch the venue with a highly publicized grand opening event in the spring of Year 1; Maintain tight control of costs, operations, and cash flow through diligent management and automated computer control; Maintain food costs below 33% of food revenue; Maintain total beverage costs below 25% of beverage revenue; Exceed $250,000.00 in weekly net revenue by the third year of plan implementation.
Business Plan Proposal:
The Ducks Poker Room
Business Plan Proposal: The Ducks Poker Room
Executive Summary/Company Description
The Ducks Poker Room will be a new for-profit gaming club primarily hosting players of versions of the card game known as "Poker." The Ducks Poker Room will also offer alternate games, including but not limited to promotions for prize pools involving tickets to college basketball and football games. Finally, The Ducks Poker Room will host patrons who are not playing poker.
Business Plan Objectives
Provide exceptional facilities, equipment, service, staff and merchandise that create a highly positive impression on our core customers;
Consistent entertainment atmosphere and product quality;
Capitalize on excellent location opportunity;
d. Launch the venue with a highly publicized grand opening event in the spring of Year 1;
e. Maintain tight control of costs, operations, and cash flow through diligent management and automated computer control;
f. Maintain food costs below 33% of food revenue;
g. Maintain total beverage costs below 25% of beverage revenue;
h. Exceed $250,000.00 in weekly net revenue by the third year of plan implementation.
3. Product/Service Offerings
In order to achieve our objectives, The Ducks Poker Room will offer:
a. Facilities, located at:
b. An area within the facilities, dedicated to playing Poker and equipped with:
1) Seven (7) Poker tables seating up to nine (9) players at a time, for a possible total of sixty-three (63) individuals simultaneously playing Poker;
2) All other equipment and staff required for playing Poker;
c. Game scheduling, tentatively set as follows:
3) Live Poker cash games at any time;
4) Poker tournaments every evening;
5) Poker tournaments every Saturday and Sunday afternoon;
d. A sitting area within the facilities and equipped with:
1) One (1) X-Box;
2) Two (2) video poker machines;
e. Facility-wide equipment, such as four (4) televisions for viewing sports programs;
f. Facility-wide sale of food and beverages, including snack foods and beer;
g. Facility-wide sale of merchandise, such as T-shirts, decks of Poker cards, card toppers, and other Poker-related merchandise and accessories;
h. Experienced ownership/management/staffing by the following persons:
1)
2)
3)
4)
4. Industry Description
The U.S. Bureau of Labor Statistics classifies the Gambling Industry with NAICS #713200 and within NAICS #713000 -- Amusement, Gambling, and Recreation Industries. Gambling is a cultural phenomenon across the United States and Oregon is no exception: according to the most recent Indian Gaming Industry Report, based on figures from 2009, revenue for the nine Oregon casinos totaled $459.7 million. Five Oregon Indian Casinos reportedly offer Poker rooms: Wildhorse Resort and Casino in Pendleton; Spirit Mountain Casino in Grande Ronde; Kah-Nee-Ta-High Desert Resort and Casino in Warm Springs; Chinook Winds Casino Resort in Lincoln City; and Seven Feathers Hotel and Casino in Canyonville. Within and around the City of Eugene, a cursory review reveals 5 poker rooms, with the dominant poker room being "Full House Poker," which offers 2 tournaments per day, six days per week, excluding Sundays.
5. The Market Analysis
Eugene is the second largest city in Oregon and the seat of Lane County. As of the 2010 U.S. Census, Eugene has a population of 156,185; this represented an increase of 18,292 since the 2000 Census. Eugene is also the home of the University of Oregon, with a 2010 student enrollment of 23,389. Furthermore, OU's enrollment steadily increased from 2007 through 2010, as the following figure shows:
The Ducks Poker Room intends to target customers from both the general and OU student populations and anticipates capturing a large segment of these populations due to: the small number of Poker rooms within and around Eugene; our product/service offerings, which extend far beyond the minimal offerings of competing Poker rooms within and around Eugene; our Oregon Ducks theme. Based on the average yearly population increase of 1,829 or 1.17% in Eugene's general population between 2000 and 2010, and based on the OU student population growth of 1003 or 4.48% between 2009 and 2010, we anticipate the following yearly increases in these populations for potential customers:
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