THE SYDNEY EXPERIENCE LUKE HEARD CHRIS LANE COOWNERS SMALL BAR

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THESYDNEYEXPERIENCELUKE HEARD CHRIS
LANECO-OWNERSSMALL BAR
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The Sydney Experience
Chris Lane Luke Heard
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• Agenda
• City of Sydney OLGR
• Insights
• Operations Chris
• Back of House Luke
• Tips Luke Chris

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• City of Sydney OLGR
• City of Sydney
• Talk to Laneways department (grants), planners
  (pre-DA meetings), PCA
• Be across zonings, DCPs (Late Night Trading) and
  Policies
• Be open and honest in dealings
• OLGR
• Talk to Department
• Use all information available
• Be open and honest with stakeholders look for
  alternatives to get around issues
• Cover all bases nothing worse than
  having to start again

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• Operations
• Gain practical experience
• Overall product and individual products
• Know it inside and out
• Know all offered and how to sell
• Stock
• Control isnt selling then discount and move
• Negotiate deals with suppliers discounts
• Be price conscious may have loss leaders
• Staff training customer service
• RSA
• Products
• Upselling will directly correlate to
  increased sales

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• Back of House
• Start-up expenses
• This will cost more than you think BUT 150K to
  200K OK fees
• Only spend money on what you need to
• Make sure you complete thorough due diligence
  (feasibility etc)
• Financial
• Please talk to your accountant
• Do sales analysis, feasibility, returns
• Know your KPIs prior (65 GP, 25 wages etc)
• Cashflow needs are known well in advance
• Legal Know what you have to do and what you
  dont
• Staff
• Know your requirements (tax, workers comp,
  super etc)
• Get roster together early

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• Tips
• Refine your business plan and model over and
  over
• Research
• Other

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1. Refine your business plan and model over and
over
First concept drawings
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What we ended up with
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• 2. Research
• Simple questions you need answers to
• Who am I selling to?
• Demographic analysis
• What are their preferences?
• What type of venues do they like?
• What do they want?
• Overall
• Food and beverage
• How do I deliver it?
• Is the vehicle a mainstream product
• What time of the day to they want it?
• Where do they want it?
• All about meeting your market

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• 3. Other tips and conclusion
• We havent even talked about marketing!
• Need detailed, structured marketing plan
• Appropriate marketing for your venue
• Customers vote with their feet
• Expect to work hard if you expect to swan
  around then you wont make it
• Its romantic for about 5 seconds
• Keep it as structured as possible do effective
  plans
• Dont do it unless committed if there is doubt,
  there is no doubt
• Take a punt you can plan all you want but
  eventually it is a calculated risk
• Get the thing open! Each minute it is not
  operational it is costing you money
• The silver bullet is just hard work

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Chris Lane Luke Heard