Fork and Dagger Case Study

Fork and Dagger

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        The profits of the Fork and dagger were reducing at a quicker rate and Richard had to make a decision that would enhance the bar sales and also comply with the needs of his two sons. The two ideas offered by his sons are both crucial to the business but need to be fixed wisely to suit in the long term, middle term and short term suggestions.

Short term implications

• The bar should keep its profits in perspective.  As such, the money should be used to create a good rapport with employees and create better good and services.  
• Creating sales from the already captured audience will stabilize the current sales. The LGBT community are some of the captured consumers and hence the bas should offer discounts, customer recognition and offer new products to existing consumers.
• Also, instead of thinking to renovate the business, the bar can focus on the LGBT community, regulars and families which visit during the weekend. By valuing their relationship, and ask for more ideas on how to improve the business. Consumers are loyal when involved in the growth of the business.

Middle term implications

• Monotony can be a cause of reduced revenues as consumers find places with better services will help increase the revenues. The world keeps changing and a favorite product for the consumers may not remain the best for long as more products and services are being invented every day.
• Repainting the bar will also give a new look to the company.

Long term implications

• Renovating the company and including karaoke, flat screen TV, pool table and a DJ. This services require a lot of resources and money and the bar is not at the position to make such huge expenses at the moment.

Revenues

6,300, 500

Expenses

Four tables @          $5000         $200,000

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