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-70866-34696400COB 300Team EstoniaAntwerp, Spring 2018COB 300 Business PlanBusiness Name: Par ‘n’ BarBusiness Idea: To bring joy to people of all ages by creating a unique environment that socializes the game of golf. Team Members: Email Address:Abishek Ramakrishnan_______________________________________ramakrat@dukes.jmu.eduBrian Gibbons_____________________________________________gibbonbj@dukes.jmu.eduCourtney Do_________________________________________________doch@dukes.jmu.eduJulianna Kates_______________________________________________katesje@dukes.jmu.edu Meredith “Blair” Ritter_______________________________________rittermb@dukes.jmu.eduTyler Holowach___________________________________________holowatg@dukes.jmu.eduExecutive SummaryManagement:Titles: Facilities Manager, Event Manager, Assistant Facilities Manager, Office Manager, Hospitality Manager, Food and Beverage Manager, General Manager Industry:7992- Public Golf Courses and Country Clubs Number of Employees ( Yr. 1)90Amount of Financing sought: €2.492 millionDebt: 100%Equity: 0% Investment Sources:Venture Capital €(2.492mil)5 year loan at a 6% interest rateUse of funds:Equipment, SGA expenses, salaries, land, utilities, marketing, and advertising.Pricing:Membership: €5Per Bay Session: €60 (max. 6 ppl) Business Description:Par ‘n’ Bar is an LLC operating out of Antwerp, Belgium. Our business is an experience-oriented golf entertainment service. Our goal as a company is to bring joy to people of all ages by creating a unique environment that socializes the game of golf. We intend to primarily partner with Callaway for golfing equipment and Dell for our technology needs. Products/Services:We provide a family friendly social golfing experience for all ages. Our facilities include a driving range with integrated technologies that allow for a unique gaming experience. Our facilities also feature the same amenities as a restaurant and pub to promote a social atmosphere. Competitive Advantage:Our business is a unique multi-faceted golf experience that socializes the game of golf into a more palatable and affordable form of entertainment. Markets:Our primary market is Belgian men and women between the ages of 18 and 34. This is an approximately 1320395 people (2017) and is estimated to grow by 5.9% per year. Our secondary market is the golfing population of Belgium which remains steady at approximately 47,000 individuals. 1.0 Elevator PitchPar ‘n’ Bar provides a family fun golfing experience that also features food, drink, and several other aspects of a typical American entertainment institution. Our company fulfills Antwerp’s lack of a family fun sport, as well as golfing institutions in and around the city. 2.0 Product / Service DescriptionOur driving range is three stories high, with access from each floor. We provide official Callaway Golf Clubs and allow customers to bring their own. Each bay is equipped with technologically-advanced golf balls with RFID chips that track the ball's height trajectory, speed, and distance. We have collaborated with Samsung to display game progress, statistics, and videos of user’s swings on a Smart TV in each bay. Customers may order from a range of food and drinks directly from the bay, or visit one of our Belgian-specific bars for a local beer. Additionally, Par ‘n’ Bar offers lessons and integrated practice videos from certified European PGA coaches. Lastly, Par ‘n’ Bar also provides Junior camps and holds various tournaments throughout the year, such as the “Callaway Longest-Drive Competition” and the “Coca-Cola Closest to The Pin Challenge”. 3.0 Competitive AdvantagePar 'n' Bar has innovated a technology that makes golf an exciting sport for all ages and skill-levels. Our focus is creating long-lasting memories through the concept of socializing a sport. We feature dozens of high-tech, climate-controlled hitting bays, as well as a chef-inspired menu and passionate associates, allowing our guests to create memories year-round.4.0 Value PropositionPar 'n' Bar is a complex business that must maintain a variety of operations. It is unavoidable that we will face expensive upkeep costs; however, our value expands beyond these expenses. Par 'n' Bar promotes the “socialization of sports”, meaning that it is attractive to all people despite their feelings toward golf. It creates prime opportunities for corporate outings, youth events, and family gatherings (Burns, 2015). The value is not in golf; it is in strengthening relationships in an atmosphere in which everyone can find comfort. Our revenue streams are not constrained to one specific consumer-segment. Related industries show that 51% of guests are non-golfers, meaning over half of the revenue (60%) comes from food and drink (Financial Times, 2018). 5.0 Business StrategyWe have developed an idea that looks beyond practicing golf swings at the driving range. We are committed to creating an entertainment center by not only targeting avid golfers, but also families of young and old demographics. Our service differentiation makes our business strategy superior. Cultural differences can dramatically affect successful business operations, but our business strategy proves that we are dedicated to providing a fun, interactive way to introduce a new wave of socialization to a different culture market.6.0 Business LocationThe prospective location for Par 'n' Bar is a development site priced at €990.000, and located on Catersdreef 2970 Schilde. This site is a prime location for our facility because the land’s surface area spans 30,445m2 and is currently undeveloped. This location is more than five times the average family-fun center’s surface area, so there is room for potential expansion. The location is 29.2km northeast from the heart of Antwerp (a 32minute drive) and offers 3 possible modes of public transportation within walking distance of the area. These distances would allot reasonable travel time. Nearby points of interest include various schools and supermarkets (vlan, 2018).7.0 Outsourced Functions Our golf supplies will be outsourced because they are already mass produced (Finan, 2018). We plan to obtain our equipment (golf clubs, golf balls, RFID sensors, etc.) through various sponsors within the golf and technology industries. All employees will be locally obtained and hired. Utilizing local resources will endear us more to the community and potentially increase our customer base.Exhibit 1: Organizational Chart The organizational chart displays the layout of the company positions for Year 1 and 2. There are no changes to staffing because the company has not expanded its facilities, nor has it grown to multiple locations outside of Antwerp, Belgium. If Par 'n' Bar were to expand further, the top management positions would remain the same, however the number of part-time employees and managers would increase (depending on the size of the new facilities). Exhibit 2: Employee Costs ChartNotes: Employee Costs ChartWe are registering Par ‘n’ Bar in Belgium under an available form such as Limited Liability Company. Par ‘n’ Bar is still responsible for compliance with employment, immigration, tax and payroll regulations. (ShieldGeo, 2017)Payroll Tax is composed of Corporate Income Tax, Income Tax Rate and Withholding Tax. Corporate Income Tax is calculated as 33.99% of the employee’s salary (ShieldGeo, 2017). Income Tax Rate correlates to Belgium’s tax bracket from 2017 in which a Gross Income 0.01 – 10,860 EUR has a tax rate of 25%, 10,860 – 12,470 EUR is 30%, 12,470-20780 EUR is 40%, 20,780-38080 is 45% and 38,080 EUR + is 50%. (Europa.eu, 2018). Withholding Tax is 25% (ShieldGeo, 2017)Total Benefits is composed of Healthcare, Illness Plan and Paid Vacation time. Healthcare benefits is 7.35% of the employee annual salary (The Belgian healthcare system, 2017). Illness Plan is 75% of the employee’s annual salary. Paid Vacation is 20days maximum for each employee (ShieldGeo, 2017).Part-time jobs are calculated at an average of 25 hours per week, in which there are 52 weeks in a year.Exhibit 3: Market Segmentation Analysis/Target Market SelectionExhibit 4: Market Quantification YearTotal Market Potential (# customers in millions)?Market Growth Projection?Market Share?ProductChannelUnit Price (per hour per bay)Membership Price (per person)Annual Sales Revenue (Euros in millions)11.32mil5.79%4.70%Memberships & SessionsB2C€60€513.2mil21.34mil5.79%4.80%Memberships & SessionsB2C€60€513.9mil31.48mil5.79%4.90%Memberships & SessionsB2C€60€514.8mil41.56mil5.79%5.00%Memberships & SessionsB2C€60€515.6mil51.57mil5.79%5.10%Memberships & SessionsB2C€60€516.5mil? Taken from Belgian census data (2017) reporting on Belgians 18-34yrs old? Market Growth Projections made from the percentage growth rate estimated for the golf market in Belgium? Original market share percentage based on similar metrics from companies in the same industry, with growth predicted at the same rate.Exhibit 5: Positioning & Competitive Analysis Positioning: Although they appear to be different, millennials, bachelors, and large families all share a similar desire to socialize in an entertaining, yet comfortable, environment. Par 'n' Bar is a business which can successfully satisfy these needs by providing a lively mix of games, food and drink, competitiveness, and appealing aesthetic to a variety of target groups. When contemplating where to plan the next outing that will please each member of the party, Par 'n' Bar is the answer. Competitive Analysis: Company Comparison, SWOT, Porter’s Five Forces-6172134119000Company ComparisonNote* The business proposition is based off the concept of TopGolf, so the SWOT uses statistics SWOT AnalysisNote* The business proposition is based off the concept of TopGolf, therefore the SWOT uses statistics pertaining to TopGolf.Internal:External:Strengths:94% of non-golfers say they feel comfortable in a TopGolf venue 99% of guests say they will return to TopGolf1 TopGolf uses RAIN RFID technology to turn the driving range into more of an experience. This program keeps score automatically and can create custom games based on players’ hitting data. Traditional golfers love the idea of TopGolf: “we offer them something unique -- the opportunity to play 365 days a year” TopGolf does not require the time commitment that traditional golf does.3 Opportunities:29% of non-golfers agree that TopGolf encourages them to try traditional golf. 23% of guests follow golf more closely after their experience with TopGolf.4Of non-golfers, 53% say that TopGolf has peaked their interest in playing traditional golf.4 “The golf industry is incredibly fortunate to have TopGolf ...as a bridge to help turn non-golfers into passionate golfers”475% of non-golfers state they are interested in playing golf on a course.4Traditional golf has many barriers to entry that TopGolf avoids: high start-up costs, level of availability, time, and understanding. From 2014-2016, the growth rate of registered Belgian golfers has declined from 3.58% to 2.23%. Weaknesses:The golf participation rate among millennials (ages 18-34) has declined by around 30% compared to previous generations The equipment and setup costs are extremely high. TopGolf requires about 13 acres of land, which can be very difficult to find and finance, especially in more of a metropolitan area. It is easy for malfunctions to occur in the RFID technology, creating a dysfunctional and frustrating experience.Because pricing is determined on a per-bay basis, it can be expensive for those who decide to go with a small group.Threats:It is possible that balls could miss the target and fly over the nets, landing on buildings or injuring pedestrians. An example of this occurred with a similar company in VA, USA, landing on top of a church. At a similar venue in TX, USA, a man fell from the second level of the building and the nets failed to catch him. It is possible that other lawsuits like this one may occur. Porter’s Five ForcesCompetitive Advantage: Top Golf in the United States and in the UK represents an underutilized niche of the market with no direct competitors. Par 'n' Bar is a Belgium company and would similarly have no direct competitors, however it would be indirectly competing with two different groups: golf and recreation. While Par 'n' Bar doesn’t offer the full course experience that most golfers would be attracted to, it allows serious golfer to use it as an alternative driving range at a cheap price. In terms of recreation any establishment that offers an activity (i.e. Escape Room), food, alcoholic beverages or any combination of those three would be possible alternatives to a day at Par 'n' Bar.Threat of Substitution:Supplier PowerBuyer Power: Threat of New Entrants:The golf industry itself is declining and has been falling in most major nations, however Top Golf has had a sharp growth in all public metrics available (Gurdus, 2017). One might have assumed that Par 'n' Bar would be somewhat connected with golf’s nationwide performance, but this shows that the overall experience that this facility offers is the greatest indication of its value. That means that Par 'n' Bar’s substitution would be in the experience economy sector of the market. In Europe in general this market hasn’t been as utilized, Antwerp is home to themed bars, arcades, escape rooms and a few other activities. The threat is low, due to Par 'n' Bar’s ability to allow people to play as a group and allowing the experience to range from 1 hour to half a day.Golf equipment is a product that’s costs can start a small level and be as high as an individual customer dictates. Shown by many country clubs, equipment costs generally go up as the company makes more money and desire to upgrade to a progressively wealthier clientele. Par 'n' Bar isn’t positioned to attack a upper class clientele, and that would mean overhead costs for equipment should stay the same unless there’s a expansion, which would be justified by an increase in the amount of clients. There is a huge litany of lower cost golf equipment suppliers world-wide, so no individual supplier given our positioning would have a huge level of power over us (Finan, 2018).Par 'n' Bar as with other companies working the experience economy work based off of generating a huge clientele of mainly regular customers or people looking to try something new. This means in a situation that Par 'n' Bar is sustained in an industry without direct competitors and an affordable price; buyers have little power over the prices.Par 'n' Bar has a high startup cost, and requires investment to back the idea. The specific idea for this idea would be protected as intellectual property (look into precedent law in Britain and the EU). The biggest issue would be companies that look at the niche Par 'n' Bar is positioned in and attacked that demographic and split the number of customers Par 'n' Bar is getting. This would be the biggest threat to Par 'n' Bar, and can be combated by excellent marketing and the first mover’s advantage that Par 'n' Bar would have by being the first experience based company on this scale in Antwerp.Exhibit 6: Marketing MixExhibit 7: Flow Chart Exhibit 8: QualityIndicate the Dimensions of Quality on which you will focus.Why is this dimension important, given your industry & target market?PerformanceQuality in performance of the staff and game system is crucial to the customers’ experience at Par ‘n’ Bar. The experience will be created by our game system and staff performed efficiently and smoothly so the customer enjoys their time at Par ‘n’ Bar. AestheticsPar ‘n’ Bar socializes the game of golf. Therefore, we have created an energizing atmosphere with top of the line technology, delicious food & drinks, and fun staff members to foster a social environment while enjoying a new way of playing golf.Special FeaturesOur RFID golf balls allow each drive to be tracked in terms of height, distance, and speed. These factors will then equate to a number of points a player will gain. Exhibit 9: Inventory & SuppliersItem(s)Supplier & SponsorsQuantityReplenishment or Repair FrequencySystem of ManagementRFID Golf BallsCallaway (balls); Dell Technologies (RFID chip)5,000Every 6 monthsWasp BarcodeGolf Clubs (Full-set)Callaway82(36 Adult Right)(18 Adult Left)(12Kids: 9R, 3L)Every 6 monthsWasp BarcodeGolf GripsLamkin1,148MonthlyWasp BarcodeSmart TVSamsung82As neededWasp BarcodeGame SystemDell Technologies36As neededWasp BarcodeFoodUnilever Food SolutionsNAWeeklyWasp BarcodeDrinksCoca Cola, Jupiler, Duvel, Nalu, SPANAWeeklyWasp BarcodeFurniture(Tables)(Chairs: 6/table)IKEA50 Tables300 Chairs22 BarstoolsAs neededWasp BarcodeUtensils(Plates, Silverware, Cups)IKEA350 Plates350 Sets350 CupsAs neededWasp BarcodeSwing Assistance & coaching TechnologyhudlTechnique36As needed Wasp BarcodeInventory & Supplier NotesPar 'n' Bar uses an automated inventory control and management software system from “Wasp Barcode”. The advantages of an automated, versus a manual, process are improvements among the elimination of errors, time saved, anticipated needs, simplified tracking, and most importantly, customer satisfaction. Roughly 88% of Excel spreadsheets contain errors, possibly resulting in in- or over-sufficient orders. This automated system eliminates most (if not all) inventory tracking errors. Instead of spending several hours manually taking inventory, inventory records are automatically tracked, updated, and re-ordered ahead of time, which combats late or last-minute orders. Wasp Barcode’s system also only takes about a day for new employees to grasp, as opposed to weeks of training for manual systems. This software can also predict or anticipate when demand will rise and fall, which is especially helpful when planning our food and drink quantities. Due to the software’s ability to analyze historical data, an accurate forecast can be compiled and needs can be anticipated more precisely. Par 'n' Bar has an enormous amount of inventory orders, which means a lot of shipping and arrival dates to keep track of. Thankfully, this software provides an email system to notify when an order has shipped, as well as what shipping process stage the order is in. Additionally, these orders automatically get added to inventory records by scanning the barcode from each order. Without a sufficient amount of inventory, it is impossible to satisfy customers and give them the best experience possible—which would eventually hinder our ability to succeed and expand in the future. Overall, this software streamlines the supply chain management process and creates a more efficient and effective supply chain. This allows Par 'n' Bar to meet their customers’ inventory needs and demands without delay, which minimizes complaints and creates a path for long-term success. -6286534403200Exhibit 10a: Income StatementExhibit 10b: Income Statement NotesNote* All Revenue reports came from 2017 IBISWorld Golf Driving Ranges and Family Fun Centers, which included information on TopGolf Inc, All 41 locations were divided to make estimated projections on one Par ‘n’ Bar location.Games Revenue makes up 55% of total revenue for TopGolf (540.7m EUR) in 2017.Food & Beverage revenue makes up 20% of total revenue for TopGolf (540.7m EUR) in 2017.Retail & Event revenue makes up 25% of total revenue for TopGolf (540.7m EUR) in 2017. Total industry revenue (Golf Driving Ranges and Family Fun centers) was 12.9B in 2017. According to IBISWorld, TopGolf's market share was 4.7% of total revenue. Cost of Purchases was founded by finding market share and dividing by 41 TopGolf locations. Dave & Buster's Preopening costs for 2017. Par 'n' Bar's projected Pre-Opening costs were calculated by taking total Preopening costs and dividing by 109 Dave & Buster's locations.Dave & Buster's General and Administrative expense for 2017, divided by 109 locations.Depreciation & Amortization accounts for 5% of total industry costs (12.9b) according to IBISWorld. 12.9B multiplied by 4.7% of TopGolf's total market share.Operating Payroll & Benefits expenses & wages are from the Employee Cost Chart on pg. 6.Other operating expenses account for 22% of Industry costs. Multiplied market share of TopGolf (4.7%) by 12.9b & divided by 41 locations to find expense. Advertising expense accounts for 4% of total Industry costs (12.9b). Utilities expense accounts for 6% of total Industry costs (12.9b). 500,000 Euro down payment on Land, with 10% accumulated interest per year to pay off the rest of the property (990,000) in five yearsDividends were not paid out to shareholders in 2019.Exhibit 11a: Balance SheetPar 'n' Bar Balance Sheet December 31, 2019???Other assets?Land€500,000.00Tradenames€589,999.02Other assets and deferred charges€120,905.15Total other assets€1,210,904.17?PP&E?Property and equipment €2,812,286.69Depreciation-€698,204.17Total PP&E€2,114,082.52?Current assets?Cash and cash equivalents€960,168.25Inventories€153,957.73Prepaid expenses€118,209.01Other current assets€89,112.43Total current assets€1,321,447.42?Total assets€4,646,434.11??Other liabilities?Notes Payable€490,000.00Other liabilities€838,897.25Income taxes payable€20,104.59Total current liabilities€1,349,001.84?Current liabilities?Interest Payable€49,000.00Current installments of long-term debt€108,268.65Accounts payable€1,102,268.47Accrued liabilities€125,222.06Other current liabilities €958,293.96Total current liabilities €2,294,053.14Total liabilities€3,643,054.98?Stockholders' equity?Common stock, par value 0.0081euro; authorized: 3,700,000 shares; issued: 389,629 shares €3,155.99Treasury stock, 3,000,000 shares at .0081 euro€24,300.00Retained earnings€975,923.14Total stockholders' equity€1,003,379.13?Total liabilities and stockholders' equity€4,646,434.11Exhibit 11b: Balance Sheet NotesPar 'n' Bar's balance sheet is based off of Dave and Buster's SEC filings from 2017. Dave and Buster's is a similar-industry company that offers some of the same experiences as Par 'n' Bar. We used Dave and Buster's numbers to roughly estimate the balance sheet information for one Par 'n' Bar location during its first year of operations. Our land cost 990,000 EUR. We purchased 500,000 EUR worth of the land and took out a note for 440,000 EUR plus 10% interest for 5 years.We predict that our tradename, Par 'n' Bar, will grow to this value at the end of our first year.Other assets and deferred charges are based on estimates from Dave and Buster's.We have a large amount of PP&E due to the initial start-up and acquisition of our company.Depreciation results from an estimate of the assets' depreciable lives.Our current assets are estimated using Dave and Buster's balance sheet, adjusted for the number of Dave and Buster's locations and the profitability of the ongoing company.Our note payable consists of the 490,000 EUR loan taken out to finance the rest of the land.The rest of the other liabilities are estimated using Dave and Buster's balance sheet, adjusted for the number of Dave and Buster's locations and the profitability of the ongoing company.Our interest payable represents 10% of the 490,000 EUR note payable taken out to finance the land purchase.The rest of the current liabilities are estimated using Dave and Buster's balance sheet, adjusted for the number of Dave and Buster's locations and the profitability of the ongoing mon and treasury stocks are estimated based off of common startup business market shares.Our retained earnings represent our projected net income after our first year of operations.Exhibit 12a: Cash Flow StatementExhibit 12b: Cash Flow Statement NotesAll cash flows are taken from Par ‘n’ Bar’s income statement and balance sheet based off of Dave and Buster’s SEC filings from income is calculated as a combination of revenue, product costs, and expenses to equal 975,923.14 EUR. (Exhibit 10a: Income Statement)Depreciation and amortization expenses are positive and added back to reconcile net income to the net cash provided by operating activities. Depreciation and amortization are taken from Exhibit 10a: Income Statement.Changes in assets and liabilities include increases in inventory, prepaid expenses, and other current assets and deferred charges, accounts payable, accrued liabilities, income tax payable and other liabilities. Inventories increased during the year in direct correlation to the increased quantity of tangible property such as golf balls, clubs, restaurant utensils, etc.Capital expenditures (CAPEX) is calculated as the cost of accrued liabilities, at 125,222 EUR, plus accounts payable, at 1,102,268.47 EUR, subtracted from the sum cost of inventories, at 153,957.73 EUR, plus prepaid expenses, at 118,209.01 EUR.The exercise of stock options is calculated as common stock with a par value of 0.0081 EUR, authorized at 3,700,000 shares and issued at 389,629 shares. (Exhibit 11a: Balance Sheet)The issuance of treasury stock is authorized at 3,000,000 shares at 0.0081 EUR. (Exhibit 11a: Balance Sheet).Beginning cash and cash equivalents equals zero because the company is a start-up.Cash paid for income tax is calculated at a rate of 33.9% (Exhibit 10a: Income Statement)Cash paid for interest is calculated at a rate of 0.05% (Exhibit 10a: Income Statement)Exhibit 13: Financial Ratios & AnalysisActivity RatiosAsset Turnover13,191,617.61/4,646,434.1128.00%Liquidity RatiosCurrent Ratio1,321,447.42/1,349,001.8498.00%Quick Ratio1,114,125.98/1,349,001.8483.00%Solvency RatiosDebt-to-Assets Ratio3,643,054.98/4,646,434.1178.00%Debt-to-Equity Ratio3,643,054.98/1,003,379.1336.30%Profitability RatiosNet Profit Margin975,923.14/13,191,617.617.39%Return on Assets975,923.14/4,646,434.1121.00%*Financial Ratio NotesAsset turnover: It is lower because we do not turnover inventory as quickly as other industries, like telecommunications and retail.Current ratio: It is not too low for a start-up company, but we will still have some trouble paying off short-term debt in our first year.Quick ratio: As a start-up company, we do not have as much available liquidity available to pay off current debts.Debt-to-assets ratio: Our ratio is higher than the average because we do not have many investors since it is our first year of business.Debt-to-equity ratio: We are financed mostly on debt because we are facing the costs of a start- profit margin: Considering we are a start-up company, our net profit margin is fairly decent. Investors are still benefitting from an investment in our company. We plan on continuing to increase this ratio over our profitable years.ROA: It is lower because we had large initial outlays to satisfy start-up requirements. Our assets generate a decent amount of our profits.BibliographyBurns, M. J. (2015, March 02). How Topgolf Flipped The Traditional Driving Range Model AndCreated A New Category Of Entertainment. Retrieved April 05, 2018, from Times Topgolf targets expansion beyond the green. Retrieved April 05, 2018, from Cost ChartIncome tax. (n.d.). Retrieved April 05, 2018, from and Tax in Belgium. (2015, May 26). Retrieved April 05, 2018, from Belgian healthcare system. (n.d.). Retrieved April 05, 2018, from , Market Segmentation & AnalysisAtypical Antwerpen. (n.d.). Facts and Figures at a Glance - Meeting. Retrieved April 04,2018, from Fact Sheets. (2018). Retrieved February 24, 2018, from Lonely Planet. (2017, December 21). Antwerp in top 10 world cities to visit. RetrievedApril 04, 2018, from Wilde, P. D. (2017). Flanders State of the Art: Tourism in Key Figures 2017. Retrieved April4, 2018, from Behavioral, Market Segmentation and AnalysisDuczeminski, M. (2018, January 25). Using Behavioral Segmentation To Understand YourCustomers. Retrieved April 04, 2018, from Business LocationDevelopment site for sale, Catersdreef, 2970 Schilde. (n.d.). Retreieved April 05, 2018, from (RAH27789)?r=s_91ff7e99bced9b5057192db7e2bbd8ccb339e0b4Competitive Analysis Finan, T. (2018). Golf Course Maintenance:How Much Should You Spend? Retrieved February 22, 2018, from blog/golf-course-maintenance-how-much-should-you-spend3Gurdus, E. (2017, December 12). Topgolf CEO sees 'real growth' in golf, says he's 'winning' with millennials. Retrieved February 21, 2018 from (2016). KPMG Golf Participation Report 2016. Retrieved February 24, 2018 from Marketing MixBhasin, H. (2017, December 15). Service Marketing Mix - 7Ps of marketing mix - Marketing mix of Services. Retrieved April 05, 2018, from , SuppliersSchofield, J. (2016, May 17). How Topgolf Revolutionized Their Supply Chain. Retrieved April 05, 2018, from Statement ReferencesMiles, R. (2017, September).?Golf Driving Ranges & Family Fun Centers in the US (Rep. No.71399). Retrieved April 4, 2018, fromIBISWorld website: ReportRep. SEC at 1-91 (2017).Annual Report 10K - Dave & Buster's Entertainment, Inc. Balance Sheet ReferencesAnnual Report 10K – Dave & Buster’s Entertainment, Inc. Quantification ReferencesStatbel. (n.d.). Retrieved April 04, 2018, from Par ‘n’ Bar’s Executive Leadership Team48260635000Courtney Do serves as the Chief Operating Officer of Par ‘n’ Bar. Courtney is a Junior, Computer Information Systems major at James Madison University from Oakton, Virginia. At school Courtney has been actively involved with her professional business fraternity, Phi Chi Theta, as their Vice President of Recruitment for the 2017-2018 school year and a Sector Analyst for the Phi Chi Theta Investment Fund since 2016. In her free time, Courtney enjoys hiking in the Shenandoah Valley and spending time with her friends and family. This upcoming summer, Courtney looks forward to working for the public sector of Grant Thornton as an Advisory Intern in Alexandria, VA.47402757683500Julianna Kates serves as the VP of Design and Site Operations of Par ‘n’ Bar. Julianna is a Junior Accounting Major at James Madison University from York, Pennsylvania. During summers 2016 and 2017, Julianna worked as both a marketing and procurement intern at Keller Foundations, LLC. In Julianna’s free time, she enjoys volunteering with her fraternity, Phi Sigma Pi, and networking with business professionals at Beta Alpha Psi events. Post-graduation, Julianna plans to obtain her Master’s in Accounting and pass the CPA exam. She currently resides in Antwerp, Belgium, with 32 other business professionals.127003746500Abishek Ramakrishnan serves as the VP of Technology of Par ‘n’ Bar. He is from Gainesville, Virginia is majoring in CIS and minoring in Business Analytics and he wants to change the world before he turns 20. He aims to work with Big Data and analytics to find patterns and the conclusions that can be drawn from his patterns. When not studying Abishek enjoys playing Tetris, dancing and reading. He is currently residing in Antwerp, Belgium completing James Madison University’s COB300 program alongside 32 other business professionals.450088010668000Brian Gibbons serves as the VP of Sales and Marketing of Par ‘n’ Bar. Brian is a Junior Marketing Major with a minor in Anthropology at James Madison University from Reston, Virginia. The past several years Brian has worked in management for the aquatics and recreation sector of his hometown’s home-owner’s association. At James Madison, Brian is involved in the Sportsmen of JMU as their president and has been unofficially involved in organizing interclub events with several other JMU student organizations. Brian currently resides in Antwerp, Belgium studying as an Erasmus student at the University of Antwerp.3937016129000Tyler Holowach serves as the Chief Development Officer of Par ‘n’ Bar. Tyler is currently a Junior, Economics Major at James Madison University from Sparta, NJ. In the summer of 2017, Tyler worked as a Sales Operations Intern for Virtustream and plans to work for IBM Security this summer in Boston, Massachusetts. At James Madison, Tyler is involved in the Madison Economics Club, Relay For Life, and a professional social fraternity. Mr. Holowach in his free time loves to enjoy the outdoors and he hopes to travel the world when he retires. Tyler currently resides in Antwerp, Belgium.476758027622500Blair Ritter serves as the VP of Human Resources for Par ‘n’ Bar. She is a Junior, Finance Major at James Madison University from Suffolk, Virginia. In the summer of 2017, Blair served as a Software Support Specialist for TowneBank Mortgage, using an Access-based loan origination software. During her free-time, she enjoys spending time at the beach, enjoying the company of her friends, and being a proud mom to the most adorable dog in the world. She enjoys volunteering in her community and through her sorority, Alpha Delta Pi, which was just recognized as JMU’s Sorority of the Year by the Panhellenic community. She hopes to continue travelling and aims to visit every continent in the world. Blair is currently completing James Madison’s rigorous COB 300 program and residing in Antwerp, Belgium alongside 32 other business professionals. ................
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