NICHE MARKETlost & found

kyiv

[the kyiv bar scene]

early 2014:‘new’ parovoz opens

2015: cocktail boom

2016: who doesn’t have a bar‽

[the good news]

small, but growing community of competent bartenders

most ‘good’ bars are commercially viable

mature audience:new trust in bartenders, but also

more demanding

[the bad news]

still not enough bartenders

there’s a new bar every week

the ‘mature audience’ is still relatively small

[a few initial conclusions]

1) you have to be ‘good’ AND ‘different’

THEN:quality is enough to attract guests

NOW:quality is a necessary, but

insufficient condition

2) expectations, and tastes, willchange and diversify

THEN:a ‘good’ bar is . . .

NOW:a ‘good’ bar is one that fits me

i.e. the market will segment not only by quality and price, but by

‘atmosphere’

[case: lost & found]

no:

menu*

beer/wine/cider

DJs/bands

food*

reservations

advertising

yes:

cocktails

our cocktailsguest cocktailsclassic cocktails

home

“makes you feel right at home”“tiny and cozy, feels like home”“cама атмосфера в этом заведении-

как в семье”“ самый ‘домашний’ бар Киева”

conversation

okay, okay: food

really, really good foodfor really, really special

occasions

music

+ a healthy dose of weird

[some numbers]

seats:bar – 10

bench – 15+ standing roomtotal area: 36m2

cocktails made:friday: 150-200

saturday: 100-150weekdays/sunday: 30-50

avg. drink price:~120

average check:400+

pour cost:~30%

[how it works]

lesson #1:have a story

Lesson #2:spend wisely, or:

you can’t buy atmosphere

Lesson #4:hire people, not skills

Lesson #3:invest in people

teach. learn.

compensate and motivate:base salary

% percent of profitcocktail development budget

employee discounttime

Lesson #6:do your homework

Lesson #5:do what you love,love what you do

see you wednesday