The following paper will provide an overview of the current business environment of the BBJSC. Furthermore a five year business strategy will be outlined, focusing on a possible UK entry by analyzing the UK business environment and the applicability of the current business model.
The BBJSC is located in Maryland, close to Washington DC and is well known in the area as an upper class evening entertainment location. It is housed in a completely renovated building that is surrounded by a very nice neighborhood, including close proximity to local businesses, increasing its attractiveness for corporate events. The basic offering consist of different blues and jazz acts accompanied ...view middle of the document...
National minimum drinking age). The time factor is not that critical for the BBJSC since it is no “late” night club and the average times guests consume alcohol is generally before 2am, furthermore the average age of guests is well above this limitation.
The economical analysis mainly focuses on the economical condition of the country and in further detail of the precise area of operation as the city or even the distance to wealthy neighborhoods. Analyzing the macro environment, the mean annual income per person in Maryland is a suitable metric, that in the year of 2012 was $51,971 the 5th highest in the whole of USA (Bureau of Business & Economic Research, 2013). The GDP of the US increased by 41% since In the whole of US the GDP increased by 41% since 2003, even after taking inflation in to account this leads to an amount of prosperity that enables people to increase their spending on entertainment. According to a study on spendings for entertainment purposes about 28% are used for entrance fees, such as the ticket prices at the BBJSC (Tseng, 2003).
From the employer perspective it is important to mention that in Maryland there is a minimum wage of $7.25 existing (Boesler, 2013).
Turning the view towards the social perspective we can first of all refer to the direct experience ratings from visitors. For this purpose two well established rating platforms will be taken in to account. The overall rating is 3,5 out of 5 on yelp based on 35 reviews and trip advisor based on 13 reviews. The recommendation rate is 53% according to trip advisor. The ratings are based of many very positive reviews, especially pointing out the great atmosphere and music offerings but there is also a large group of people that point out some weaknesses concerning the food and the time it takes to deliver it (source ratings yelp). The actual location of the BBJSC can be considered as very good. The first point is that it is in close vicinity to many business locations and furthermore the crime rates and the rents and income metrics of the neibourhood are very good. This makes the real estate of the BBJSC very attractive and increases its value, since it is self owned this also backs up a lot of the businesses financing needs (web sources).
Technology wise the US as most western countries is highly modern. This confronts the BBJSC to provide some minimum requirements as the possibility to pay electronically e.g. 45% of alls US payments are done by card (Woolsey & Schulz, 2010) and furthermore people have an increasing need for internet connectivity.
2.2 UK Market
In the following paragraph the differences of the business environment the BBJSC would be confronted with during an UK entry will be examined on the basis of an PEST analysis.
The drinking laws in the UK are more relaxed than in the UK, the minimum drinking age is 18 that widens the possible target group. Although the offering of the BBJSC is focused mainly on higher age groups, this offers the chance to attract...