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A key element of my position is to have a customer service mentality and constant problem solving skills.Entrepreneurship is a bold venture for any investor to get involved in, and creating a successful business requires a massive amount of effort in terms of undertaking.
If we have a successful bar established in a large city, we can expect to make anywhere from $3,000 to $6,000 dollars depending on the night of the week, keeping a large percentage of that due to the industry’s exceptional profit margin.
In essence, if we were to sell liquor and beer with a 400% profit (every $7.00 shot costs roughly $1.75), we can assume that we could sell at least five hundred shots or beers per night, generating $3,500 in gross sales.
Firstly, the market is ripe for expansion in the food and beverage industry and appeals to me as a stepping stone toward other business endeavors, thus making it easier to grow the business quickly and expand my personal wealth.
After the Great Recession of 2008, Americans increasingly spent their money on moderately priced forms of entertainment like the theatre instead of taking expensive vacations or going to high-priced sports events.
In this sample essay, our expert writers respond to a prompt that asks the student to craft a unique business idea and discuss related market factors.
This type of document might be created for an economics class or as part of a business plan for professional purposes.TThis is a much bigger margin than other industries, especially clothing and retail. Totaling these numbers up, we may generate more than one million in sales; however, because it is our first year of business, we are expecting turbulence and potential problems arising. This affordability will my business partners and I leverage in the future; due to stagnant liquor prices, there will always be an interest in going out to bars.Furthermore, it has always been a passion of mine to be somewhat of a host to guests, and offering a great environment for people to enjoy themselves would be personally rewarding.The three pillars of GCUs College of Business are Entrepreneurial Spirit, Innovation and Servant Leadership.These are three key characteristics that are critical in building a strong foundation for students to succeed in their professional growth and in business.Over the next several decades, technological advancements will likely create more jobs in the respective industry throughout the country.Yet while the tech industry may be the most lucrative for prospecting entrepreneurs, others, such as food and beverage, can also expect steady growth over the next several years.Possessing an entrepreneurial spirit is an important quality not just for individual success but for that of a business as well.For a business to maintain growth and sustainability it must It is part of my role to give recommendations to create new, efficient or better processes, policies, and systems which often do not come to fruition due to red tape and unwillingness to change.