Nature of Venture
Background
The tavern/restaurant industry is mature and established, nevertheless, food and alcoholic beverage sales continue to rise nationally. Consumers spent roughly 215 billion at restaurants and taverns in 1995. This growth has been fueled by the long term rise in the portion of food and beverage dollars consumers spend on items prepared outside the home. In addition, changing work and leisure habits and increased advertising and promotion spearheaded by the alcoholic beverage industry have contributed to the industry's growth and have enhanced profitability.
Nature of Products/Services
AEI will offer a wide selection of alcoholic and non-alcoholic beverages, along with a full menu and complete selection of lunch, dinner and snack items. AEI will feature live entertainment on weekends including local and regional bands and music acts. On certain weekday and weekend nights, a disc jockey will complement and/or supplement the live music. For amusement, the Tavern will provide two pool tables, darts and a wide variety of popular video games. AEI will promote drink specials, promotional prizes, giveaways and special events such as (antique car shows) in the adjacent parking lot.
Location of Venture
The Rock Island Tavern is located along an active commercial section of East Green Avenue (Route 45) approximately ½ mile from Route 206 in Williamston, Pellton County, PA.The Tavern is approximately one-half mile east of Watertown and approximately ten miles north of Foley Pass. The surrounding businesses include several international fast food chains, retail shops, and service companies. The Tavern is located next to Gary's Farmer's Market, a very active retail established over 75 years ago.
According to Oakland Township authorities, the surrounding area is expected to continue to grow as a result of continued residential construction and commercial development. The site is locate within 1/4 mile of a new 50 lot single family housing development. The adjoining parcels have been zoned to accommodate additional townhouse development and further retail development to include a multi screen movie theater and strip center.
According to Pennsylvania Department of Transportation (PENNDOT), a 1996 traffic survey for Route 45 and Route 206 determined the average daily traffic counts to be as follows:
Route 45
- 17,960 vehicles
Route 206
- North Bound = 8,617 vehicles
- South Bound = 8,563 vehicles
Market Description and Analysis
Description of Products/Services
