Hookah Bar Essay Example | Topics and Well Written Essays - 1250 words

Hookah Bar - Essay Example As such, it becomes necessary to consider the nature of business practices and the manner in which the businesses align with some of the dominant cultural practices in the region. In the field of entrepreneurship, it is important for business practices to align with aspects of the culture in order to avoid the mismatch between the nature of services and the dominant cultural practices that influence market trends (Lee-Ross and Conrad 60). The process of establishing a Hookah Bar in Denver will also require a study into the balance between the level of risk and rewards. This stage will involve the conducting of a thorough survey that will require the determination of a range of issues that affect the variables of profitability, revenue, expenses, and other factors that directly relate to the business. It will be important to consider the fact that some of the issues that affect the business are dependent on the costs of operation. Calculations will be conducted regarding the levels of overheads and other costs in terms of how they influence the factors of performance and sustainability of the market. As such, the business will be considered to be viable if the promise of rewards outweigh the kind of risks involved. Presently, the prospects of success are high given the fact that existing businesses have remained relatively stable for a long time. One of the most important factors that shall be considered when establishing the business is the creation of a strong client base. The establishment of a strong client base will require an assessment of the cultural aspects in the Denver population in order to determine the consumption patterns and other important factors that can help to strengthen the clientele. I will find out from the clients some specific information about their likes and dislikes in the existing businesses. The major objective will be to capitalize on the weaknesses of the existing players on the market to maximize on the gains reached by