MUSICAL SHACK

I. Idea
A. What is your idea? Is it a product? A service?

My idea is a resto bar full of music inspired designs such as bands, records, and etc. In the resto bar there
is also a stage where it is open mic like everyone can just go up and sing or perform a song. There will also
be guests on certain days of the week, guests such as bands and singers. It will be located in bgc because
i believe in bgc there will be a lot of people who will go to bars in bgc even famous people do and if there is
a band who wants to be famous they’re free to perform or they will just pay a small amount if they want us
to advertise them. The bands who will be invited can differ in genres so that its not only one taste of music.
The bands will also get paid if invited only. The bar will be selling drinks or foods that will be named after a
band reference or a song reference, for example Red hot chili pepper steak. Also in a week there is one
day that a special tribute for a singer or a band for example an elvis day to honor elvis presley. Also every
Monday there will be a opm day in honor of opm that means only opm songs are allowed. Also people who
are below 18 should have a guardian who is above 18 to get in.

B. What makes your idea unique? Why will people buy it?

I believe my idea is unique because it gives underrated bands a time to shine to get attention and to show
what they can do. It is also unique because of the creativity of the meals or drinks names and the creativity
to name it after a band or a reference to it. Its unique since it gives people a chance to hear live music
basically for free because a bar is open for everyone it will help music grow. I think its unique since there
will be a filipino themed day every Monday and it gives honor to our own culture to our music. People will
buy it since a lot of upcoming bands just came from singing to bars like this and since this resto bar is in
bgc and its all about music i think music companies will sent out people who will go this resto bar and scout
new bands or singers.

II. Marketing
A. Who will be your customers?
My customers will be music lovers, upcoming bands, music companies, and all the people who wants to
have music while they drink or eat. I am aiming for people who are above 18 most likely the upcoming stars
who wants attention for there career.

B. Where will you sell your product or service?

I will put it up near bgc or around bgc since there will be a lot people there and a lot of people will just go
effort to go to bgc just to drink because the pace is clean, clean and nice. Also a lot of well known bars are
there so when they see a new bar open up they will be hooked.

C. How will you get the word out about your business

I will invite a well known band to the resto bar and help promote the resto bar and i will also place ads in
facebook, or in general social media.

D. What is the name of your business

The name of my business is the musical shack since all of the things inside it is music related.

III. Finances
A. How much wil it cost to start your business?

Lets say we have 100k a month for the place and we will have 14k a moth for a bartender, a chef will be
around 20k a month, a waiter will be lets say 13k a month and a sound technician will be 13k as well.
Drumset will be 30k, amplifiers will be around the 35k and speakers will be around 20k. The electricity bill
will be roughly be around 20k and also the water bill. Drinks and foods will be around 20k with the meat and
needed ingredients for a whole month. And lets say we need around 200k for rennovations and design.

B. Where will you get the money to cover your start up costs?

Ill be proposing this business when im already successful in a job and when i get my savings up till the
needed funds to start my business. Probably ill have a collabration with someone so that im not the only
one paying all of the funds and ill get some help from them.

IV. Pricing
 A. How much will you charge?

It depends on how expensive is the ingredients for the meal or drink. But when it comes to beers ill say
around 76-80 per bottle since its the average price. I will just add a little to get profit from the foods and
drinks but more likely the meals wont go more then 200+ it will just depend on what course of meal they
chose. Also ill add an extra 100 php in the reciept to be like an entrance fee. For the open mic and who
wants to perform if they scheduled in a busy day they will be asked for a payment of 500 php just to
perform and to get media attention which is cheap already.

B. How does your pricing compare to your competitors

Ill make sure my pricing is just below theirs so that when people see our bar slightly cheaper and more fun
of course they will be attracted and me hooked to it and be interested. For example some resto bars offer
100 php for a glass of beer while i am offering 76-80 php. Of course promos will help me get more
customers but i will make sure i will still get a lot of profit even if i have a cheap pricing