Analysis Report of a Sylvia's Bar Essay Example | Topics and Well Written Essays - 1500 words

Analysis Report of a Sylvia's Bar - Essay Example This study has shown the current business scenario of the bar which provides how the pain points of this business are negatively helping it to occurring losses over the years. This analysis also provides the recommendations by which it might restructure its business strategies so that it can turn around from old traditional culture and provides services which match with the test and preferences of the young generations. Research Objective The purpose of study of the current business practice of Sylvia’s Bar has some objectives. These core objectives are to find out the likely wrong business practices which negatively catalysing the business for making losses over the years and recommend possible solutions which might help to turn around the business in a profit making positions. Research Methodology This business analysis of Sylvia’s Bar is based on primary research and as well as some secondary research also. The main key findings of problems came out by questioning th e customers (Appendix 1.1) of the bar and the staffs (Appendix 1.2) as well. Generally questionnaire is made by a list of questions and the same questions to the targeted samples. But here, different questions are asked to different customers who used to come earlier but not now. The feedback was taken from current and earlier customers in different parameters like Age, Profession, Choice of clothing’s etc. This research was made on both qualitative and quantitative analysis. To analyse the feedback of questionnaire, qualitative research method and for the numbers like the price of the product and services Silvia’s offer is compared with the local competitors who generally have strategy of regular price, more customers. The feedbacks of the customers and the staffs have shown that the bar’s business strategy doesn’t follow the trend of people’s lifestyle and choices. Study Findings Qualitative Analysis Local market survey shows that like Silviaâ₠¬â„¢s bar, many late night bars have opened on that high road of Birmingham like grass flower in the rainy season. They provide entertainment to their customer based on their choices and preferences and follow the trend of changes in customer’s choices. Sylvia’s was established in 1986 targeting the local bank employees and serviced offered at that time according to their choices and preferences and this is why it was so popular in its childhood. Not only this, Sylvia’s bar was only late night bar on the high street which opened after 11pm, and for this reason people from local pubs, who want to spare more time, used to come there as those pubs used to close at 11pm. But, now a days, this area is not that much popular and many younger prefer the fashionable Canal district for weekend night outs. This segment of people doesn’t have 80s or 90s mentality, lifestyles, choice of relaxation. Now trend has been changed and people like to relax in weekend nights in crowdie nightclubs with group of friends and colleagues where they will be provided regular priced dishes, wines, cocktails etc with remix tracks by popular DJs rather than like to spend the time of their relaxation in a silences environment especially in a bar where old classical songs and premium priced dishes and cocktails are available. The business strategies of Sylvia’s might work in a pores city like London where many community of traditional, classy