Idea for a new club in Mass.

[ryancontois]

Hey everyone!

After being disappointed at the clubs in the area, I have come up with a new idea for a club. Mass, and CT really are a disappointment. Let me know if anyone is interested in sharing some ideas.

[David]

OK. I think that we all are. That's why we are here.

[BigMo_Atlanta]

what areas do you need help with? Share your ideas and thought and we'll throw ours in too. It's your thread.

[ryancontois]

Well, for starters, the building is the old Springfield Prison. The building is vacant, 3 floors, and enormous as far as square footage. I would keep the name, "The Prison," and have staff in guard uniforms and also in striped convict outfits. Where could I find investors for something of this caliber?

[BigMo_Atlanta]

Well, for starters, you're going about it backwards. If you were to contact an investor, the first thing they would ask is to see your business plan. An investor wants to know what exactly he/she will be investing in. Right now, you have an idea. Get it down on paper. Hence the title, "Business Plan" :)

You need to write one before approaching anyone. Go into detail. Your concept. The location. The nature of business. Hours, genre, how many employees you will be hiring, where will you purchase things like, chairs, glasses, music, and liquor. You need to have sales/profit projections.

Next comes the security plan, my area of expertise. You need to develop a detailed security plan. This will help with not only your investors, but insurance companies, the liqour control board, and local law enforcement. You need to go into detail about how you will screen, hire, and train your security staff. How will you enforce club rules and local and state laws.

[ryancontois]

The idea's and operations is my special area. I am not as strong on the "business" side, but I have seen similar ideas to my own in many different markets work out better than expected. I just don't know where to begin or who to go to.:(

[David]

It's the Business Plan that sells the idea not the idea that sells. Sure, you can have a great concept thought out and it may be the next best thing since sliced bread. But, any person with the money to invest will want to see how you expect to pay them back.

Read some of the other posts here and see if that helps.

[Andrew]

Here's how i imagine that I would do it if I hadn't found this forum..

Build 2 lists: 1. Expenditure & 2. Income. Then break that down further and further until you think you have covered it all. Buy some business management software to help you model [or learn spreadsheeting]. Obtain current market-value costs by tendering out the tasks to various contractors ie. get quotes/search the web etc.

With a solid plan that transparently shows a return on the investment for the lenders AND when AND for how long [and one that clearly shows what you are prepared to invest as well [monitery, time, etc.] then maybe put the 'request for finance' out to tender as well.

[ministry]

first of all, if you want to renovate a old prison do you relize that the walls will be VERY hard and thick ? it was built to keep people in. what about location ? big is not always better. are there and liq lisences available ? any zoning issues ? asbestos ? sprinklers ? elevators ? emergency exits ? bathrooms ? you are looking at huge $

[keithd]

Not to rain on your parade, but I kind of agree with ministry.

While the idea really could be a good one, turning a prison into a nightclub is probably going to be a multimillion dollar affair. Unfortunately, if this is your first venture in this industry, it will be nearly impossible to find someone to fund this without a flawless, detailed business plan and an experieced management team. And even with that it may still be impossible unless you've got some connections with the right people.

Maybe you should start with a smaller project and work your way into something this size.

Really not trying to sound to negative here, I just remember all the time I wasted on unrealistic pipe dreams of extravagant bars before I realized what they really cost.

Good Luck,
Keith

[ministry]

also i think that the space has already been sold.

[Andrew]

..but wouldn't you have fun with the ex-prison concept. Bars called Escapee's, the Cell for the Murder-on-the-dancefloor set, Lifers bar... & no need to panic the cops when someone crosses the line & security refer the matter on- no, just lock 'em up then and there! Serve (the homi)Cider, etc.

what you are buying is only infrastructure. Yep, sounds like heaps of work=time=money.

[summieone]

you could have a lock in!

[nacho]

First, if you're looking to renovate an old prison, get with your local economic development people. They will let you know if you can even get zoning for such a venture, and will also advise you on any grants, tax breaks, and other important opportunities that may be there to help you fund your project.

Second, do your homework and find out if you can even get a liquor license.

Then do your business plan!

Nacho
RestaurantEdge.com (http://www.RestaurantEdge.com)