Principles of Entrepreneurship class, Extra credit case study

Principles of Entrepreneurship class, Extra credit - Case Study Example s market segment based on their discretionary incomes (pertaining to the young professionals which constitute a significant portion of 40% of the target market segment). Some financial data can also be obtained on the rest of the target market, which are the college students (40%) and the local music scene enthusiasts (20%) on how much they can spend on some of these discretionary entertainment expenditures, which can evaporate if there is a recession. The business environment section of this case study is too brief and gives only a very cursory approach to the whole entrepreneurial venture. Perhaps more information should be a necessity of the project proponents, especially if they intend to raise venture capital or will likely borrow additional working capital from commercial banks. All additional information should be a plus, since it would show they had done their homework and in turn will convince potential investors in the future. An example is actual population figures that comprise the so-called younger generations and their percentage to the entire local population. Another example will be a more detailed copy of the revitalization plans of the city, which can affect traffic routes and congestion or availability of parking areas. Zoning regulations also need to be looked into, so as to determine the most favorable location for the new bar. What is its competitive advantage? The only combined bar, music venue and specialty liquor lounge within the area. The closest competitor is the Sub-Zero Bar, which incidentally also offers vodka, similar to the Noiz Vodka Bar in terms of its specialization in the liquor industry as the main form of client offering. However, this type of competitive advantage supposedly enjoyed by the Noiz Vodka Bar once it opens is something that is not easily defensible, as any other local bar within its immediate vicinity can change their strategy and also offer a similar type of packaging of products and services for their