Watch How to write a Bar and Lounge Business Plan – Competitive Advantages

Video Transcript

Introduction

Hey y’all, my name is Dr. Paul Borosky, and I am the owner of Quality Business Plan.
Today, I’d like to give you some tips and tricks on how to write the Competitive Advantages section for your Bar and Lounge Business Plan.

Overview

Here’s how the video will go:
First, I’ll share a little background about who I am, what I do, and why I do it.
Then, we’ll talk about what a competitive advantage is, how to write this section, and examples that may apply to your business.

About Me

Again, my name is Dr. Paul Borosky, MBA, owner of Quality Business Plan.
I’m a professional business plan writer, an adjunct professor, and a subject matter expert in business and finance.
If you want to skip the challenges of writing your own Bar and Lounge Business Plan, feel free to call, text, or email me—I’d be delighted to write it for you.

I’m also a published author with several books on business plan writing and financial statement analysis available on Amazon.
If you need help with financial projections, I can create those for you as well.

What Is a Competitive Advantage?

A competitive advantage is something you do better than most of the other bars and lounges in your area.
It doesn’t mean you’re better than everyone—it means you stand out.
Ask yourself: What do we do better than most competitors?

How to Write the Section

When writing this section, I usually place it in the Company Information part of the business plan.
Keep it to two or three competitive advantages—not seven or eight.
For each one, explain briefly what it is and why it matters.
Put your strongest advantage first, and your second-best second, since readers may not read all the way through.
Keep each explanation to two or three sentences—short, clear, and meaningful.

Examples of Competitive Advantages

• Themed Experience: Create a consistent atmosphere—tie your menu, décor, and staff uniforms into your theme (sports, music, movie, etc.).

• Food Options: Offering appetizers, tapas, or entrees gives you an edge since many bars don’t serve food.

• Prime Location: A downtown or high-traffic area near festivals or events can naturally drive customers in.

• Events: Host trivia nights, karaoke, or networking events—partner with local chambers or groups.

• Ownership Factors: If your bar is veteran-owned, woman-owned, or minority-owned, highlight it. These can open doors to special funding and grants.

Final Tips

• Don’t show all your cards—give enough detail to show your strengths but not your full playbook.

• Use a chart or SmartArt to make this section clean and easy to read.

• Keep it short, sweet, and strategic.

Closing

If you’d like help writing your Bar and Lounge Business Plan, whether it’s the Competitive Advantages section, financial projections, or the entire plan, reach out—call, text, or email me anytime.

As always, go out, make a little money, and have a great day!