The Studio 305 Business Plan Analysis

Paper Info
Page count 22
Word count 5372
Read time 19 min
Topic Business
Type Essay
Language 🇺🇸 US

Elevator Pitch

This is a business plan, a nightclub called Studio 305 in Brickell, the financial center of Miami, Florida. There are currently no true nightclubs in Brickell to serve the area’s 36,000 residents. For a nightlife experience, they must travel downtown or to Miami Beach. There are several bars in the nearby region, but none with a dance floor. Studio 305 will be a strategically placed nightclub in Brickell, dubbed the “Manhattan of the South.” The nightclub’s design will be inspired by the renowned Studio 54 dance format from 1977 to 1980. This nightclub emphasizes diversity and accepts people of all colors and sexual orientations. Residents of Brickell and nearby regions such as Riverside, The Roads, Key Biscayne, Coconut Grove, Coral Gables, Edgewater, and downtown Miami are among our end consumers. According to “Brickell Demographics” (n.d.), Brickell’s average annual household income is $107,355, while the median annual household income is $78,105. Residents aged 25 to 44 make an average of $86,151, while those aged 45 to 64 earn an average of $90,487 (“Brickell Demographics”, n.d.). Brickell is the city’s financial district, with gleaming commercial skyscrapers and luxury residences towering over Biscayne Bay. Rooftop bars and surf ‘n’ turf grills appeal to the banking and business population, while art galleries and stylish boutiques in Brickell City Centre draw fashionable residents. This would be an excellent site for our event.

Executive Summary

Studio 305 provides Brickell with an elite yet inclusive nightclub where clients may experience Miami’s version of the renowned Studio 54, which lasted 33 months. Studio 305 will offer a wide range of specialty beers and wines to meet the populace’s ever-changing and more informed desire for diversity in beer and wine. The pub will also include a complete liquor bar. Patrons pay nominal admission fees to get access to the hottest and safest dance club, which features the biggest tunes from the past from special guest DJs such as Jellybean Benitez and Nicky Siano. Table services are also available for those who prefer that choice, and visitors may take advantage of a variety of amenities, ranging from tableside entertainment to waiters stocked with a variety of goods to maximum comfort. Among several advantages, one of the most significant is that it helps many people to lessen their carbon footprint for the night while also saving money. In principle, our venue may minimize the number of cars on the road, hence reducing congestion in the neighborhood. Those who choose valet or street parking at a nearby lot would also be allowed to do so. Guests are intrigued by the music and design throughout the venue from the time they arrive. The open architecture of Studio 305 allows customers to quickly grab a drink and return to the excitement. Patrons will be charged a cover charge to fund the band’s costs. All equipment set up and broken down will be the responsibility of the bands.

The bar and nightclub sector in the United States contains around 45,000 locations (single-location businesses and branches of multi-location businesses) with a total annual revenue of approximately $20 billion. There are no dominant corporations, and differing state liquor regulations hamper the opportunity to develop massive chains. The sector is highly fragmented, with the top 50 businesses accounting for just approximately 5% of total sales.

Business Positioning

The target client is between the ages of 25 and 55 and is looking for a safe place to dance and have fun. These are the folks who come to appreciate the rhythms of the large metropolis and to see the city from a different perspective. Brickell is a growing neighborhood with a typical family income of more than $100,000. These are prospective clients with some additional cash, and the nearby neighborhood already has almost 36,000 inhabitants. This figure does not include the number of persons who work in the neighborhood. Miami is becoming an even more popular international destination with the arrival of Brickell City Centre. Our client group’s psychographics and personality qualities include individuals who cherish excellent music while also enjoying fantastic entertainment, therefore, our consumer segment is pretty large. Those who visit Studio 305 are going to a location where the staff is properly educated to enhance every experience possible, so our clients already have a pleasant mindset when they walk through our doors. Their way of life is to work hard throughout the day so that they may unwind with their pals at a fun place in the evenings and on weekends. They feel Studio 305 is a place that shares their beliefs, therefore, they keep coming back. When they hear their old favorite disco, jazz, funk, and other genres from the 1970s and 1980s, nostalgia sets in, and they begin to reflect on how life was back then. Our themed nights would attract individuals with similar interests, so the environment would be enjoyed by a large number of like-minded patrons.

Studio 305 will be down to compete in our market, and we will be keeping an eye on our direct and indirect competitors to see what they are offering, who their consumers are, how much they charge, and how they promote their products or service. Blue Martini and Comodo are our most similar rivals, not because of the sort of venue and entertainment. Studio 305 provides, but because of the target group, which is between the ages of 25 and 55. We are elegant but reasonable, as well as secure but enjoyable. Studio 305 is everything that our target demographic looks for in a nightclub. Indirect Competitors: Club Space, Red Bar Brickell, 8Street Brickell, and E11even Miami are four of Studio 305’s biggest indirect competitors. These nightclubs are considered indirect rivals because their primary clientele is millennials, primarily students. Both clubs play exclusively electronic, hip-hop, and top 40 music. We do not consider the rival to be a huge concern because these nightclubs have a different target market and image than us, as well as the individuals they attract. We will be able to discover and monitor our rivals’ exploitable flaws, as well as the dangers they offer to Studio 305, by recognizing and monitoring them. Finally, we will develop our own marketing approach to distinguish Studio 305.

Studio 305 will promote itself as the go-to bar and grill for customers looking for a comfortable and relaxed bar and grille experience with a relatively low capital outlay and easy entry levels. The central position, designed in the same style as its competitors’ downtown and midtown, will entice the suburbanites residing in the neighborhood who do not want to drive more than a few minutes from their households. The employed managers have a collective 35 years of nightclub, restaurant and bar management expertise and completely support the enterprise. Studio 305 will provide a large selection of artisan beers and wine, as well as jazz music and fine cuisine, and will seek to be the preeminent bar ‘where the locals go’ in Palm Beach County’s suburbs. Studio 305 will go over and above the call of duty to ensure that customers return and tell everyone that they know about the nightclub. The Studio 305 will provide: the location of the bar and grille, the environment is tailored to appeal to this target group, and • there are no venues equivalent to the topic in the present target market. In reality, the nearest direct alternatives are eight miles away in downtown, and the majority of the population would prefer a location closer to home.

Results of Real and Primary Research

The goal of this primary study was to provide Studio 305 with a better knowledge of what its clients expect from their first and future visits to Studio 305. At this point, we established the goal and, based on the surveys, recognized broad information about the audience’s lives. The poll was conducted in a public spot, at the Brickell City Center’s entrance. The interviews took place in person (face-to-face). The interview included 15 people, with an emphasis on the age of the target audience. A collection of closed and open-ended questions was used since the approach gave the audience a sense of freedom and presented Studio 305 with some unique ideas that can lead to monetary rewards. The main goal of the survey was to use the data gathered as an integral component of designing a successful marketing plan. In other words, because it is based on genuine data-driven insights, educated judgments using the knowledge from the research would be incorporated in Studio 305. The summary of the results is as shown in Appendix A.

Product Competitive Advantage

Studio 305’s qualities are distinctive and set us apart from the competition. Our primary advantages are Studio 305 is located in a high-traffic location where our primary target demographic resides. Based on the target audience, in a place with few direct rivals (Blue Martini, Komodo). Entertainment: There will always be some type of entertainment at Studio 305, including popular live bands, which provides our nightclub a distinct and competitive edge, while other nightclubs are not as diversified such as E11even Miami, Club Space, and Red Bar Miami. Safety/Security: Solink (2020) advises monitoring the outside of an establishment using video surveillance. The use of this technology is strictly enforced to safeguard the safety of our customers. Size and Appearance: It will be spacious, appealing, and elegant, distinguishing it from other locations. Other nightclubs are typically crowded and uncomfortably small (Blue Martini, Komodo).

Sales and Marketing Strategy

To forecast revenue sales, I must first determine the area footage and capacity, which will be roughly 6000 square feet with 30-40-foot ceilings to allow for sky boxes. So, the maximum number of visitors permitted by law within that square footage is 500 or more. My forecasts are predicated on 100% capacity. Therefore, I am providing a best-case scenario, despite the fact that we are well aware that the first year will begin with about 60% capacity, or 300 people each night. That said, the money that is projected to be made will be supported by $25/per cocktail x 500 guests a night with an average of 3 cocktails each ($25 X 3 = $75/per customer times 500 guests for a total of $37,500/per night), with table service $500/per bottle x 10 tables ($500 x 10 = $5,000/per night) and entrance fee $25/ per person ($25. X 500 = $12,500/per night), potential fees for famous DJ’s and Entertainment at $100/ticket per person ($100 x 500 = $50,000/per entertainment only nights) and more money later If we secure a small eats license. Sales tax and a 20% gratuity will be added to every check. The 20% gratuity is necessary to retain top bartenders, servers, and barbacks working at our establishment. The happier the staff, which is our primary stakeholder, the better service will be given to our guests. The projected revenue would surpass the monthly lease, employee pay, liquor costs, clean-up, and any other costs involved. The preliminary calculation indicates profitability; therefore, financial feasibility analyses support moving forward with the project. Upon visiting the bar, customers will be welcomed warmly. The Studio 305’s goal is to make everyone comfortable and to be the location “where everyone knows your name.” Patrons will be prompted for their drink and meal order once they have found a comfy position at the bar, a cushy booth, or a high-top table. Cross-selling high-margin goods will be taught to employees. The Studio 305 sincerely loves its workers and offers them with the greatest possible training – and hence the best possible service. Management feels that investing in its staff will result in pleased consumers and, as a result, repeat business, resulting in increased revenues.

Word of mouth: As per Bob Johnson of the Beverage Management Institute in Clearwater, South Carolina, word-of-mouth is the only cost-effective strategy to market a bar or a nightclub. When word-of-mouth is not working, the firm might be in danger, though not necessarily fatal. There are still inexpensive methods to get some advertising and marketing out there. But it is not a good sign when a firm delves into its own cash to pay for advertising for a club. Advertising: Using Marketing Channels rather than Distribution Channels since, Studio 305 will provide a service that must be perceived and enjoyed on-site, thus, no items are supplied outside of the nightclub. In a word, marketing is the process of persuading potential clients to buy what one’s firm has to offer. Distribution channels are the means through which such firms get items in front of (or into the hands of) potential customers. The listed Marketing tools have been shown to be effective. Brickell Magazine is available in Hair and Nail Salons in Brickell and Downtown, and one can typically take one home for free. iHeart Media’s radio stations in Miami and Ft. Lauderdale includes Y100 Miami, TU 94.9, BIG 105.9, 103.5 The Beat, 93.9 MIA, and a few others. In the beginning, I would try the Miami Herald for full-page advertising and then give up. Social media will play a significant role in marketing Studio 305. First, I’m a member of Brickell Living (which covers folks from the neighboring neighborhoods), which has 12.2K members, Brickell Women, which has 1.9K members, and Brickell Dog Fam, which has 450 members. People are always talking about new venues to go to in our area. I also belong to International Miami, an Expat Based App that has thousands of members in South Florida and as a member, I can set up events for them like Studio 305. After a while, guests will post images of themselves having a great time to their own social media accounts and tag friends. The IKE Digital Kiosks are popping up all over Miami and there are 5 so far in Brickell. They are very cool and interactive touch screens that can help someone look for a place to eat, drink, and dance and the ads are beautifully lit, this would be one of my first choices to start a digital ad campaign. In the beginning, we would want to do a Press Release maybe 3 in a row a month apart. A well-executed Studio 305 Website with a commanding logo. Ballyhoo Media which are floating billboards would be another great way to tie in the IKE Kiosk digital campaign since these barges go from Miami Beach to the Miami River and they really light up at night. The rest are posters, transit advertising, billboards, and happy hour specials.

Sales Management

Throughout the Nightclub, bar and restaurant area, the Studio 305 will use a P-O-S (Point of Sale) touchscreen technology. These screens and handheld devices will be used to give point-of-sale menus, inventory control analysis, credit card sales, and office administration. The POS system will be critical to the success of the Studio 305. Employee and bartender theft may easily devastate a business’s finances. When inventory levels are low, the POS systems will notify the chef, and the bar manager will be notified when to make his order. Increased emphasis on technology (POS) and training (“Star Servers and Bartenders”) leads to higher production and profitability. Employees are subjected to extensive and continual training. Employees will be financially rewarded for delivering excellent service, with the opportunity to participate in profit sharing. All employees are hand-picked and share the same basic values as the proprietors. Everyone will be trained to be acutely aware of customers’ demands and to anticipate them before the client does. For example, always offer to bring them to their table as soon as possible. Employees will gladly ask guests to assist them with hanging their jackets and bringing them their beverages as quickly as possible. All full-time staff will be remunerated with benefits including health insurance, tutelage and training. They will have an opportunity to participate in profit sharing.

Management Team

Ken Smith has already been a Founder of a nightclub called The Crowbar in Chicago and Miami. A team of fearless entrepreneurs, including Ken Smith Barilich, who owned several nightclubs in the 80’s, 90’s, and 2000 in Chicago and Miami, will work for many months to achieve the desired outcome. Joey Alaimo (who has been Director of Marketing for several fortune 500 companies), and Diego Rivera (my nephew who has managed large-scale bars in Chicago) as the overall Club Manager. Chef Danny Zinn received professional training at the Florida Technical College and has over 17 years of hospitality experience. He was most recently working at Miami’s renowned Fontainebleau. Mr. Zinn will cook typical bar cuisine as well as local delicacies like fresh Atlantic Grouper and Mahi Mahi.

Table of Organization

To be competent business leaders, entrepreneurs must possess a variety of skills and qualities. Renzi (n.d.) states that they are to have operational capabilities and technical knowledge, as well as a few external relationships to help the business develop. They are to be excellent managers and leaders and have initial awareness of the propensity to risk. Moreover, they are to know how to solve problems and be able to balance skills in different areas. I consider myself someone who meets all these criteria along with my partner Ken Smith Barilich and I plan on assembling a team of people resembling the owners. Thus, entrepreneurial feasibility facilitates further development of the business as well. The table of organization members with diverse skills at Studio 305 is as shown in the diagram. The lowest personnel at Studio 305 are the Bar Backs. Two barbacks will be provided to ensure that bartenders have everything they need, such as glasses, garnishes, stocked bottles, and beverages. They will also be in charge of security in the event that the security department is engaged. Promoters, security, bartenders, and wait staff are answerable to both bottle hosts or door staff. In this case, wait staff is responsible for taking orders and delivering food and drinks from the bottle hosts or door staff to patrons. The same role is played by bartenders. For security purposes and “age” gap for people attending nightclubs, the security department ensures that those within Studio 305 are the right minimum age to enter and be served by reporting any issues to bottle hosts or door staff for removal from the nightclub. Both bottle hosts and door staff report to VIP hosts. At this level, there are managers, head of door/chief chef, and VIP hosts who can directly report to the general manager in case of a pending issue that requires the manager’s attention. The general manager can then call for a meeting with the owners, who are the four directors at Studio 305. Until Studio 305’s yearly revenue hits $500,000, they will hire a part-time accountant to help with payments and income tax planning.

Operations Design

Daily operations

Primary activities: Internal logistics involves receiving and storing raw supplies. This activity encompasses the operations of handling, storing, conserving, internal control, and vendor returns. Purchases: Sysco Foods and Treasure Coast Food Service will be the company’s primary food suppliers. Having two suppliers ensures that the Studio 305 receives remarkable delivery times and lower total rates. Grover Restaurant Supply will provide restaurant supplies (pots, pans, silverware, and cooking tools). Gold Coast Beverage Distributors and Florida Distributing Company will supply alcoholic drinks on a daily basis. The operation will run from Wednesday to Sunday. The daily activities include cocktails, bottle services and entrance fees charged at the door.

Support Activities: Infrastructure: Studio 305 will be a centrally located nightclub right in the heart of Brickell aka the Manhattan of the South, with the square footage and capacity which will be approximately 6000 square feet with 30-40-foot ceilings so there may be room for sky boxes. Technology: Use of POS to facilitate quick order delivery and a monitor for theft from the employees. Human Resources: All staff will be selected and trained to possess the values same as the owners.

Value creation. Product and Services: Have high-quality products and services. Human resources: Employ the best staff and train them on a current basis, as they can become a foundation of enduring and actual competitive advantage. Installations: Decoration in accordance with the competitor’s brand, distinguishing all spaces with various settings and décor that captivate and influence clients.

Weekly and Monthly operations

Stock and warehouse management: A prediction of potential losses will be established, and it will be normalized such that even if we do not know precisely how much business model we have lost, we will have an estimate of it. The weekly operations will include both the daily activity with special live entertainment conducted with two events per week. Therefore, the live entertainment is done with two events performed four times in a month and generates $375,000 sales weekly or $400,000 monthly.

Risks and Strategic Assumptions

Known risks: When the economy is in a slump, potential customers tend to save more and spend less, which means less people will visit our nightclub, hence a risk in terms of net income.

Unknown risk: May include the business segment’s size shrinking. There may be a drop in the targeted group, maybe as a result of economic concerns.

Minor risks: Changes in regulatory conditions in terms of frequent licensing and permit regulation variations. Other minor risks include situations where suppliers may elect to increase the pricing of alcohol, food, and equipment, among other things. This would result in increased costs and decreased profitability.

Major risks: Studio 305 may be affected by COVID-19 lockdown restrictions or any other similar pandemic, as the business depends on guests for profit. Located near a Beach, there is increased chances of hurricanes or related weather conditions.

All six workers will be recruited on the first day of operations (the assessment does not presume staff development during the first two years of operations). There will be no salary growth during the first two years, but staff will have the option for profit sharing after the first three years. Management compensation stayed stable as well, at $7,500 per month for the first two years of operation. The average drink sale price for a cocktail is $25, the average bottle service sale price is $500.00; and the average entrance fee price is $25, with live events at $100,000. Yearly sales allow for economic cyclicality.

Proof Studio 305 can Succeed

Feasibility Analysis – a process of determining whether a business concept is viable or not. There are various approaches when it comes to the number of elements to analyze; product feasibility, financial feasibility, and entrepreneurial feasibility. According to Taylor (2021), product feasibility is the evaluation of how appealing the product or service is overall. In Brickell, since 2016 as a Condo Owner, and every time a new place opens, the lines are long and it is a 2-3 month wait to get in with a reservation. Brickell has more condos going up every year, so the population is growing massively at a rapid rate. It has also become more expensive to live here (buyers or renters) so the income level has grown with expendable money with older retirees from the Northern States. This is the first financial reason why my business could succeed in the heart of Miami, with a growing population that exceeds any new nightclub coming in and competing with downtown clubs like Club Space and E11even. In Brickell there is Blue Martini who is currently closed for renovations and more of a band venue as BlackBird, another band venue, all 4 have a 21 – 35 customer base range. Studio 305 nightclub will go beyond the 35-year-old range to include up to Baby Boomers.

Financial Proforma

My projections are based on 60% capacity for the first year and 75% capacity for the second year. This is equivalent to the first year starting off with around 300 guests a night and 375 guests in the second year. Based on these data, we will assume that one guest orders 3 cocktails per evening on average; therefore, 900 cocktails come out per night. During the year, absolutely all nights of the club, guests can order drinks. Therefore, the resulting number must be multiplied by 360 to predict sales for the year. The price for cocktails in the purchase is assumed to be $10, while the sale will be $25. Table service involves paying a $500 deposit, which involves the purchase of 10 bottles; there are 10 such tables in the club. Therefore, the club will be able to earn $5,000 per night. Buying bottles costs $270 for 10 bottles. Twice a week there are special events with live DJ performances that involve folding tables to expand the dance floor. Such nights are expected to be 96 per year, 35 thousand dollars are accepted for fees to the speakers. Entry costs include the price of printing tickets for each guest, $0.5 each. With an increase in guests to 375 in the second year, costs increase accordingly.

From the bottom-up sales projections, it was noticed that the total sales for the first year (60% guests) will be $14,280,000 and year 2 (75% guests) will be $17,784,500. From these, a total cost of sales resulted in $4,041,800, making the gross margin for year 1 to be $11,401,240. More deductions in terms of salaries and wages ($370,000) and business-related expenses($235,000) makes the total expenses to be $605,000. The resulting income profit for year 1 is, therefore $10,796,240. In year 2, total cost of sales resulted in $5,007,860, making the gross margin for year 2 to be $9,633,200. More deductions in terms of salaries and wages ($382,000) and business-related expenses($265,000) makes the total expenses to be $647,000. The resulting income profit for year 2 is therefore $12,129,140.

The balance sheet is as shown above. In this balance sheet, the first year, it will start from a running balance of $1,500,000, total money from the four shareholders equity, where two directors with a share of 37.5% contributed $500,000 each and the other two directors with a share of 12.5% contributed $250,000. From this figure, an inventory with a cost of $210,000, projected expenses totaling to $405,250, other current assets of $129,070, making the total current assets of $2,245,320. Fixed assets will be $563,448, where $133,448 will be used for improvements and $430,000 for equipment will be used. The same fixed assets will be applied for year 2. However, in year 1, the total liabilities will be $741,760, from Notes Payable of $502,720, loss accumulated depreciation of $7,140, inventory and working capital of $151,900. In year two, the liabilities will be $641, 520 from a total of less accumulated depreciation of $174,290, notes payable of $388,540, and an inventory and working capital of $78,690. Total owner’s equity for year 1 will be $641,560 from a common stock of $595,120 with retained earnings of $46,440. For year 2, the total owner’s equity of $1,028,340 will be generated from a common stock balance of $595,120, and retained earnings of $433,220. The result is a total liabilities and owner’s equity of 1,383,320 for year 1 and $1,669,860 for year 2.

Break Even Analysis

All financial indicators calculated for the year were divided by 12 for the purpose of calculating by month. With the accepted variable and fixed costs, the payback point will be reached in the first month of sales and then the work will bring a plus. Calculations are given for the first year, as for the second year the income will be expectedly higher. However, this statement will be true given the announced volumes of cocktail sales and club attendance. Forecasts for these indicators are key and make up the lion’s share of the calculated income. In this regard, we can conclude that the project is promising in terms of financial performance.

Budget/ROI for Investors

Return on investment (ROI) is a metric that investors may use to assess an investment and how well it performs in comparison to other investments (net income/cost of investment x 100). ROI estimates may also be utilized in different techniques to develop business cases for a specific proposal. The total ROI of a business is used to determine how well it is performing. If a corporation has urgent goals such as expanding market share, creating infrastructure, and positioning for sale, one of these goals is the rate of return on investment, not immediate profit or cost savings. Studio 305 is expected to earn around 58 million dollars over the next three years, and their offer is as follows: $250,000 for a 15% share.

Summary and Venture Capital Request

The Nightclub will be the premier, high-energy, themed dance and nightclub in Brickell, Miami. Our goal is to remain a step ahead of our competition through exemplary service provision. Location, location, location– One of the major advantages that Studio 305 will have over its competition will be its location in a high-profile and densely populated area near the exclusive Brickell City Centre and the lifestyle center of Mary Brickell Village. Exceptional service – In order to reach and maintain a unique image of quality, the Nightclub will provide attentive and friendly service through a high ratio of service personnel to customers and will also invest in the training and supervision of its employees. We estimate nearly one service staff member for every 35 guests. Distinctive design features – Studio 305 will be characterized by the elaborate dance club situated in a spectator setting which comfortably accommodates 500 guests. The area will also offer three private sky boxes which can be combined for use in a conference or private party setting. The club will have white on white decor with pops of colors throughout with professionally painted art murals and oversized sofas in different jeweled colors. We will update the design once a year giving the club a fresh new look. Entertainment and dance-based themes – The company will focus on disco, old-school salsa and old-school R & B themes that have mass appeal with celebrity DJs and live acts that will reflect the spirit of those times in their performances. Managing our internal finances and cash flow to enable upward capital growth with strict control of all costs, at all times, without exception. We will capitalize on the excellent location opportunity with a swift commitment to the Brickell community. We will launch the venue with a highly publicized grand opening event in the spring of 2023. The Co-Founders will maintain tight control of costs, operations, and cash flow through diligent management and automated computer control. Our goal is to exceed $19 million in annual sales by the third year of plan implementation.

Studio 305 is seeking a loan for start-up purposes for a new entertainment venue in Brickell in addition to the $1.5 million initial funds received from the four Co-Founders (Wanda Melendez $500,000, Ken Smith $500,000, Joey Alaimo 250,000, and Diego Rivera 250,000). Funds needed to accomplish our goal will be $250,000. in return for 15% stake in the new club. We will utilize the anticipated loan in the amount of $250,000 to build out the approximate 6,000 square foot space and purchase equipment, furniture, lighting, sound system, DJ booth, bar area, dance floor, and decor that is necessary for the start-up of a new nightclub venue.

Ethics and Social Responsibility

Transparency- The information supplied by the corporation to the rest of the group will be comprehensive and open, allowing the receivers to be aware of the decisions made at all times. Impartiality-Prejudice based on political opinions, race, sex, affinity, country origin, values, sexual orientation, or physiological orientation shall not be accepted in corporate interactions. Follow laws and ethical morality-The firm will always follow the law, ethics, and established rules. In no instance may any other conduct be authorized in order to attain a goal or objective. Safety and health- The workplace environment shall be safe and healthy, with a constant emphasis on the physical and moral integrity of its personnel. The organization will provide all employees with the option to balance work and family life. These solutions will include scheduling flexibility, shift rotations, and equitable labor distribution. All suppliers shall be vetted to ensure that their materials delivered to Studio 305 meet the local standards and safety measures. It is also the responsibility of Studio 305 to protect the rights of young people by delivering tough restrictions on the entrance.


“Brickell Demographics” (n.d.). Web.

Renzi, R. (n.d.). Designing a new business (2): The five dimensions of the project feasibility. [PowerPoint Presentation]. Web.

Solink. (2020). Top 7 ways that bars and nightclubs can help keep customers safe using video surveillance. Web.

Taylor, E. (2021). 5 components of a new product feasibility study. DriveResearch. Web.

Cite this paper


NerdyBro. (2023, March 21). The Studio 305 Business Plan Analysis. Retrieved from


NerdyBro. (2023, March 21). The Studio 305 Business Plan Analysis.

Work Cited

"The Studio 305 Business Plan Analysis." NerdyBro, 21 Mar. 2023,


NerdyBro. (2023) 'The Studio 305 Business Plan Analysis'. 21 March.


NerdyBro. 2023. "The Studio 305 Business Plan Analysis." March 21, 2023.

1. NerdyBro. "The Studio 305 Business Plan Analysis." March 21, 2023.


NerdyBro. "The Studio 305 Business Plan Analysis." March 21, 2023.


NerdyBro. 2023. "The Studio 305 Business Plan Analysis." March 21, 2023.

1. NerdyBro. "The Studio 305 Business Plan Analysis." March 21, 2023.


NerdyBro. "The Studio 305 Business Plan Analysis." March 21, 2023.