Open Newtown JUNE 2019
Riverside Venue BUSINESS PLAN JUNE 2019
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Contents 1. Overview ......................................................................................................................................... 1
2. The Project ...................................................................................................................................... 3
3. The Offer. ........................................................................................................................................ 4
4. Open Newtown & the Management of the Riverside Venue. ........................................................ 8
5. Strategic Fit ................................................................................................................................... 11
6. Finance .......................................................................................................................................... 13
7. Marketing and Promotion ............................................................................................................. 17
8. SWOT, PESTEL & Risk Register ...................................................................................................... 19
9. Conclusions ................................................................................................................................... 22
APPENDIX 1 – FINANCIAL FORECASTS
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1. Overview
1.1 This Business Plan Summary sets out the rationale and feasibility of Open Newtown’s
proposed Riverside Venue.
The Riverside Venue is proposed as a 2 story, 480m2 building with additional external
retail space of 25m2. The ground floor terrace and first floor balcony add an additional
250m2 of trading space; This new building will replace an existing redundant building,
previously housing a local radio station.
The Riverside Venue will provide a unique architect designed food and leisure
development; making optimum use of Newtown's unrivalled access to river frontage and
offering a fantastic location for residents and visitors alike. This new iconic building for
the town will be one of the first major capital developments by Open Newtown.
The Project needs to be considered side by side with an aligned project towards the
other end of the greenspace area, namely the Enterprise Activity Centre, adjacent to
Newtown AFC’s football ground.
The projects will be developed on a concurrent basis, offering complementary facilities
and services promoting and utilising our green spaces.
1.2 Open Newtown is the trading name of Going Green for a Living community Land Trust
Ltd. A membership company, limited by guarantee, currently steered by a Board of eight
Directors.
The company has a range of social, environmental and economic objectives, with a
primary focus on developing the town’s green spaces for the benefit of the economy
and people of Newtown.
Members are drawn from local organisations in and around Newtown with each
Member having both: a direct interest in the town green spaces (so each is active in its
use or management); their own membership (and thus represent users of the green
spaces).
1.3 The total cost of the Project is £1.5m, with £950k funding sought from Welsh
Government’s TRI Programme.
1.4 The Venue is well situated at the head of the largest car park in the town and is the main
entrance to the Greenspaces. It also has river frontage and is very close to the town
centre.
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1.5 The Riverside Venue will offer something different to Newtown. An aesthetically
pleasing, visually iconic building where people can meet, congregate, relax, enjoy their
surroundings, dine and be entertained.
1.6 This will be a completely new and unique development in Newtown and will create a
more strategic and tangible link between the town centre and the green spaces and
river. It is designed to add value to the wider work being undertaken to regenerate and
revitalise the town, supporting and enhancing the work of our partners, including the
business sector, the Town Council, Powys County Council and Welsh Government.
1.7 The development of the venue underpins and reflects many of the most prevalent
strategies and policies impacting on our communities; including the Wellbeing of Future
Generations Act, Welsh Government’s Programme of Government and Economic Plan as
well as its Tourism, Business and Regeneration Programmes and Powys Teaching Health
Board.
It also has significant support amongst the community and wider stakeholder network.
1.8 This project will directly create 11.5 jobs and a further 4 indirectly, inject a further £1.6m
capital investment into the economy, and increase footfall and spend into Newtown. It
will also provide a range of training opportunities and offer space and support to new
and emerging enterprises.
1.9 It is a sustainable proposal, and the mix of income generation opportunities and a tight
approach to financial management will ensure that the Riverside Venue is both
commercially viable and socially responsible.
1.10 The Riverside Venue represents a new phase in the development of the Open
Newtown Project. In all senses, it will represent everything we are trying to achieve, and
will also be a catalyst for further innovative and transformational projects and
programmes in the town.
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2. The Project
2.1. The Riverside Venue will provide over 500m2 of leisure, business and retail space,
replacing what is ostensibly now an eyesore at a key focal point of Newtown’s green
space.
The Venue
Ground Floor
Entrance Lobby
Kitchen
WCs (Including Newtown’s first public fully accessible Adult Changing facility)
Small office space for Kitchen
Combined cafe/bistro and retail space.
Information Point / point of sale
First Floor
Extension to the café area with additional seating (river view) both internally and
externally out on the balcony.
Two Partitioned meeting / conference room spaces which can accommodate
100 as a combined theatre style space, 64 as cabaret style and 25 in each room
as board style
Bottle Bar (serving the function rooms)
Office / Administration space
Outside
Containerised storage space and point of collection for canoes, bikes and
possibly other sports related equipment.
Potential space for a small bike repair/service area and bike essentials retail
space.
Connected (not physically) to an adjacent model railway.
The building will be connected to a young children’s play park at the ground
floor and adjacent to a ride on model railway. We also hope to install a new
shipping container station and storage shed for the volunteers that run the
railway.
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3. The Offer.
3.1. The Demand
In developing the two initial projects (Riverside Venue and Activity Centre) we also
undertook a review of what was currently on offer in the town, what was needed
and what would ensure that our beautiful green spaces would be used and enjoyed.
We concluded that to enhance the town offer, to complement other services and
facilities in Newtown and to encourage better use of our riverside and green spaces,
we needed to develop an offer that was appealing to both our local residents and
visitors to the town.
That offer can be summarised as follows:
Outdoor Activities – active and more leisurely pursuits
A strong food offer
Specialist Retail
A sense of place
A place for people to meet, socialise and engage.
3.2. The Offer
3.2.1. Food
The intention is to provide a café/bistro spread over two floors, offering an
appealing and interesting menu reflective of its setting and the principles of Open
Newtown. There will be an emphasis on local ingredients, and dishes that are
inspired by our local heritage, culture and history.
This will be further reflected in the look and feel of the whole Riverside Venue, and
we want to create an ambience unique to the town. The mythical legend of the
three rivers that flow from Plynlimon gives each of the three, Hafren, Ystwyth and
Gwy, their own distinct characters. The Hafren was said to have a relaxed, calm and
welcoming nature; and to be a lover of people and culture. This is something we will
be considering in the way we present the Riverside Venue to its patrons.
As the Riverside Venue embeds itself and grows, we also propose to run themed
evenings, combining food and entertainment.
We also intend to offer a take-away / grab and go service, including real ice creams
amongst other items, connecting to the car park. We consider this to be an
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important facet of what's available at the Riverside, as we want people to enjoy the
open spaces and encourage active leisure pursuits as much as we want to entice
them to our facilities. Therefore, we need to provide refreshments for those "on the
go" as well.
We also hope to be able to open up the additional café space also into the function
room, and to provide a bottle bar and basic refreshment area to service the meeting
rooms and larger functions.
Underpinning our core principles, we want to explore opportunities 'poverty
alleviation' options such as the token system where those that wish to can buy a
token for a meal for someone that can't afford one. We are also considering
targeted discounts for specific cohorts, including OAPs, Young Carers, Students,
Nursing Staff, Volunteers etc.
Longer term we have also researched opportunities for contract catering, both on
site and externally within the town.
Delivery of Food Operation.
Our primary aim is to directly manage the food and beverages; however, we are
also considering the following:
Joint Venture
Possible joint venture with an established food operator for the main café and
bistro. We have had preliminary discussions with "Cultivate". Cultivate is a
Newtown based social enterprise linking food and community, and currently has
three community gardens in Newtown, Llanidloes and Llanfyllin. In addition,
“Cultivate” also runs a local food shop in Newtown's Glan Hafren Market Hall.
In addition, we will be talking directly to all existing café owners in Newtown to
gauge the interest in taking on this additional opportunity and looking further afield
to find the right partner.
Enterprise Opportunities
In line with our wider ethos as Open Newtown we want to support and encourage
enterprise and entrepreneurship. We will therefore consider offering franchising
opportunities for specific elements of the Riverside venue including the Bike Hire
and Canoe hire / guiding facilities.
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3.2.2. Retail and Facilities
The retail provision proposed also reflects our ethos as social enterprise, and to
support entrepreneurship.
It’s important that the retail offer complements the food offer and overall sense of
place of the Riverside Venue. We also want to ensure that what we sell does not
displace existing business within the town. we will therefore be putting together a
retail offer that will include:
A Deli type operation, selling good quality dried foods, confectionary, spices,
artisan coffees, speciality teas and alcohol.
Tourist and local history/information. This will encompass books, postcards, high
quality crafts and souvenirs.
Specialist retail offer. We would like to encourage opportunities for local
entrepreneurs to provide something different in the town. For example, a specialist
vinyl and music memorabilia outlet would add to the ambience of the Riverside and
would also introduce something new and appealing to the town.
Information Provision. We need to encompass an information point facility within
the Venue to support our wider ambitions as Open Newtown. This will promote the
other facilities provided by us, and to encourage footfall to other facilities within the
town and the wider area. At present we are determining the most appropriate
location and method of delivering that service, including electronic interactive
information, leaflet racking and through staff deployment.
As a point of principle, we also want to encourage minimal use of plastic within the
retail operation.
3.2.3. Other Income and Funding Opportunities.
Advertising sales - We are looking at options to sell advertising packages on our
digital information systems and possibly on other parts of the building (where
appropriate).This could also extend to other sponsors who are supportive of our
ambitions as a social enterprise, including plaques in the restaurant, specific rooms.
We will also target key businesses in the town that may make use of them and
offering a discount on bookings in return for their branding of the rooms.
Training provision - In the medium term we are considering offering supported
work placements, through routes to work training schemes and developing a close
working relationship with the regional Further Education College (NPTC Group).
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Longer term we are also proposing to offer our own courses We could offer some of
our own courses (using external providers) including first aid, cooking courses,
baking courses etc.
Room Hire - The Venue is designed to offer meetings, small conferences, evening
clubs and activities, family gatherings and children's activities.
We are also proposing to hold small intimate nights of music and comedy, some
linked to themed nights in the bistro.
Bike hire - This has limited income opportunity; however, there is a demand within
the town and surrounding area, and it is a natural fit with the offer services and
facilities that will be on offer at the Riverside Venue.
We also believe that offering such a facility will also increase footfall to the Venue,
and as a result increase spend in other areas of the operation.
Canoe / paddle board hire - The use and appreciation of the Hafren underpins
much of what we do; and we would like to offer canoe and paddle board hire for
people to fully appreciate the flow and majesty of the river and its environs.
We are currently developing package ideas, including half day with drop off one end
of town, all the way to organised and pre booked groups.
3.3. Operations
It is anticipated that the Riverside Venue will be open 7 days a week. It will offer
food during the day and longer term during the evening as well.
We will have a full-time chef, and an assistant cook who will work at least 28 hours
a week.
We also anticipate a further 4 members of staff dedicated to catering and the café,
with a further 4.5 front of house and point of sale customer services team
members.
The Venue Manager post will be shared between the Venue and Activity Centre.
This is considered essential to ensure that there is a commercially aligned operation
between the two buildings, and to manage staffing and resources effectively.
Customer Service Staff will be trained to operate in all areas of the Venue, ensuring
a more flexible and customer demand focused operation.
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4. Open Newtown & the Management of the Riverside Venue.
4.1. Open Newtown is a company limited by guarantee with a current Board of eight
Directors.
4.2. Formerly known as Going Green for a Living, the membership is drawn from in and
around Newtown with each Member having both:
a direct interest in the town green spaces (so each is active in its use or
management);
their own membership (and thus represent users of the green spaces).
Formal membership is rising to around 15 such organisations, with a number of
other organisations and societies engaged as stakeholders and potential partners.
4.3. The Objectives of the company are as follows:
To manage and maintain assets and provide services on behalf of the community of
Newtown and the surrounding areas;
To establish Newtown as a stop and stay over destination, promoting events, sports,
local food, water activities, active recreation, heritage and wildlife;
To contribute to the economic and social development of the region
To promote local energy production and affordable housing to improve individuals’
quality of life and well-being;
To contribute positively to improving the quality of life and increasing community
capacity through supporting entrepreneurship, volunteering, skills development and
training;
To enhance and develop the cultural and heritage resources of the area so as to
increase value for both the local community and visitors;
To develop and support others in the use of natural landscapes of the area so as to
support employment through recreation and tourism;
To promote participation in food production and healthy outdoor recreation in
Newtown;
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To provide opportunities for volunteers and the unemployed to develop their skills
and confidence, thus supporting them to enter or re-engage with the jobs market;
To co-ordinate social and community events to develop community cohesion whilst
promoting the area to visitors, tourists and new families;
To assist, promote and deliver the sustainable development of Newtown and its
surrounding area by promoting a place based community focus and development by
maximising opportunities in respect of assets, energy and enterprise: in the case of
assets, the company shall develop the physical, environmental and social assets of
Newtown.
To enhance, improve and protect wildlife habitats where ever possible, to increase
biodiversity on the land held in trust at every opportunity, where this does not
conflict with economic and social benefits (where a balance must be found);
By associating with local authorities, town and community councils, voluntary
organisations, residents and the community in a common effort to develop the
facilities of the area and improve each individual’s quality of life;
To manage and improve the facilities and services of the Company which, in the
opinion of the Directors, may enhance the sustainability of the Company.
As can be seen from above, the objectives of the company are extensive, but
predominantly focus on utilising our green spaces and environmental management to
enhance the lives and wellbeing of the people of the town.
4.4. Open Newtown have already allocated Project Directors for each location. Stuart
Owen is leading on the Activity / Enterprise Hub and Gary Mitchell on the Riverside
Venue.
4.5. Partnership working. As noted in the company Memorandum (above) our approach is
to work closely with our partners and stakeholders. It is only through engaging
collaboratively that we can fully achieve the aims of Open Newtown.
Much of our work is involved in working with the Town Council and Powys County
Council. We are also active participants in the potential Business Improvement District
for the Town.
We have also engaged with a variety of interest groups (as reflected in our
membership) and continue to engage with others who can bring added value to our
work.
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This approach is reflected in the way in which we wish to operate the Riverside Venue.
We will be looking to work with key partners in the operation of the Venue, and also
offering space and opportunities for others to promote their own products and
services.
4.6. The work of the Riverside Venue development will be overseen by Gary Mitchell. He in
turn will be responsible for the recruitment of staff and for the strategic direction and
growth of the Venue once operational.
As outlined earlier, it is proposed that the Riverside Venue shares a manager with the
Activity Centre.
The team structure will therefore be:
We propose to subcontract our cleaning, and will also bring in casual contract workers
during busy times.
Manager (.5)
Chef
Assistant Cook (.75)
Kitchen/Cafe Staff (4)
Front of House/Customer Care Staff (4.5)
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5. Strategic Fit
5.1. Review of most obvious and relevant Strategic Documents and linkage to the proposed
project.
5.2. Wellbeing of Future Generations Act & Powys Public Service Board Well-being Plan
The Well-being of Future Generations Act was passed in 2015. This Act is about
improving the social, economic, environmental and cultural well-being of Wales. Its
primary focus is to ensure that Public Bodies think more about the long-term, work
better with people and communities and each other, look to prevent problems and take
a more joined-up approach.
The Act is founded upon 7 pillars; all of which have a relevance to our overall objectives
and those specifically relating the Riverside Venue.
Globally Responsible
Cohesive Communities
More Equal
Resilient
Healthier
Prosperous
Vibrant Culture and thriving Welsh Language
5.3. Welsh Government “National Strategy: Prosperity for All”, and “Economic Action
Plan”
The Government’s new strategy promotes integration and collaboration across the
Welsh public sector and puts people at the heart of improved service delivery. The
strategy sets out a vision and actions covering each of the key themes in the
Programme for Government.
Prosperous and Secure
Healthy and Active
Ambitious and Learning
United and Connected
These four themes are underpinned by a further twelve strands, a number of which
(highlighted below in blue) have a particular resonance with the proposal for the Riverside
Venue and Open Newtown
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Prosperous & Secure
Support people and businesses to drive prosperity
Tackle regional inequality and promote fair work
Drive sustainable growth and combat climate change
Healthy & Active
Deliver quality health and care services fit for the future
Promote health and well-being for everyone
Build healthier communities and better environments
Ambitious & Learning
Support young people to make the most of their potential
Build ambition and encourage learning for life
Equip everyone with the right skills for a changing world
United & Connected
Build resilient communities, culture, and language
Deliver modern and connected infrastructure
Promote and protect Wales’ place in the world
5.4. The Welsh Government Strategy for Tourism 2013 – 2020 Partnership for Growth
This sets out Welsh Government’s key ambitions for the sector. It has placed great emphasis
on food tourism, a sense of place and a holistic approach to the visitor experience; all of
which align with Open Newtown’s general strategy and specific aims for the Riverside
Venue.
5.5. Sports Wales Community Strategy 2012 - 2020
Developed to set out clear priorities and focus energy to enable a dramatic shift in the range
and number of people involved in sport. Also undertaking an audit of sports facilities in
Wales during 2019.
6. Local Strategies
We are inherently engaged in all Local Plans, including the following:
Newtown Community Action Plan
Newtown & Llanllwchaiarn Town Council Five Year Plan
Newtown Tourism Action Plan (Finding a New Route)
Powys Destination Management Plan
Powys County Council Corporate Improvement Plan
Powys Local Development Plan
We are explicitly mentioned in all the strategic Newtown Documents and are also included
as a key contributor to the Newtown Place Plan which is currently being developed.
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7. Finance
7.1. The estimated cost of the Riverside Development is £1.5m.
The Proposed Sources of Funding are as follows:
Source Amount
Welsh Government TRI Programme £950k
Own Resources £550k
7.2. Income
The forecasts shown here
break down the income
streams from Year 1
following through to Year 5,
Once developed the Centre
will be fully dependent on
generating its own income.
There are no plans to
submit applications for
revenue funding, as we
believe that the business
model is robust and
commercially viable.
However, this is dependent on securing grant funding for whole of the capital costs of the
Riverside Venue. Should there be a shortfall in funding and a need to secure a loan this
could potentially undermine the viability of the project.
The forecast shows a modest profit year on year over the next five years, with an
anticipated growth of 2% year on year. However, servicing a loan repayment of any
significant amount would likely result in an operating loss.
The main income stream is the licenced café and bistro.
Year 1 Year 2 Year 3 Year 5 Year 5
£5,706.80 £27,394.11 £29,113.87 £26,538.69 £28,361.46Net Profit/Loss Before Taxes
2021/22 2025/26
Operating Income
Café Receipts 470,120.00£ 508,873.01£
Retail 15,000.00£ 21,705.47£
Room Hire 9,000.00£ 13,023.28£
Sponsorship & Advertising 4,000.00£ 5,788.13£
Bike Hire 3,000.00£ 4,341.09£
Canoe Hire 9,000.00£ 13,023.28£
Events 2,500.00£ 3,617.58£
Total Operating Income (OI) £512,620 £570,372
Riverside Venue
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The sales are based on the following assumptions:
Café Sales Analysis Per Annum
Covers 92 33580
Spend per customer £4.00 £4
Full capacity income £368.00 134320
Average occupancy per hour 25% 91.25
Average spend per hour £92.00 33580
Over 14 hours £1,288.00 £470,120.00
Income Per Annum (1288 * 365) £470,120.00
The average spend is much lower than the Wales average for coffee houses recently
reported. RWB (Research without borders) recently undertook a UK wider research into
customers’ spending patterns in coffee shops. It revealed that in Wales people spend on
average £8.62 per visit.
Whist our offer will be more than that offered by a typical coffee house, we have allowed
for the fact that coffee house customers spend an average of 1.5 hours, and that our sales
also cover takeaways and ice creams.
We therefore consider £4 to be appropriate.
In assessing the overall income we have also considered:
92 covers
The extensive opening hours
That the venue will be licenced
We have also reviewed comparator venues, including Galeri in Caernarfon
(https://www.galericaernarfon.com). This has helped us determine the likely income form
the food and drink elements, as well as room hire.
It has also informed the cashflow patterns of the business, the margins that can be achieved
and staffing costs.
With regard to room hire, on the next page is a breakdown of the assumed income for the
various rooms. We have taken a conservative approach to this income, both in terms of
pricing and hiring levels.
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Room Hire Number of days per year
Room 1
per h/day £30.00 40 £1,200.00
full day £50.00 30 £1,500.00
Room 2
per h/day £40.00 40 £1,600.00
full day £70.00 40 £2,800.00
£7,100.00
Our retail and activity hire are modest elements of the proposed business model.
Sponsorship is based on the idea of offering room sponsorship i.e. giving local companies
the opportunity to have their name and corporate identity linked to specific areas of the
Riverside Venue.
We are also considering the possibility of offering sponsorship plaques, appropriate to the
style and look and feel of the Venue.
In addition, we will offer the chance for an appropriate company or organisation to have
their name associated with our menus and will also seek a sponsor for some of our more
prolific events.
Sponsorship Opportunities
Room 1 £1,000
Room 2 £1,000
Sponsorship Plaques 20 @ £50 £1,000
Advertising on Menus £500
Event Sponsorship £500
TOTAL £4,000
From year one, we have forecast 2% growth per annum as the name of the Riverside Venue
grows.
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7.3. Outgoings
The outgoings are as follows:
Overhead Costs £ 19,000.00 £ 20,566.21
Salaries £ 183,855.00 £ 199,010.56
Uniforms £ 1,000.00 £ 1,082.43
Entertainment £ 20,000.00 £ 21,648.64
Licences £ 1,000.00 £ 1,082.43
Insurance £ 13,000.00 £ 14,071.62
Telephony £ 2,000.00 £ 2,164.86
ICT £ 2,000.00 £ 2,164.86
Sundry Expenses £ 4,000.00 £ 4,329.73
Accountancy £ 600.00 £ 649.46
Professional Fees £ 1,500.00 £ 1,623.65
Pension and NI £ 22,062.60 £ 23,881.27
Training £ 7,000.00 £ 7,577.03
Sub-Contract Staff £ 10,000.00 £ 10,824.32
Administration and office costs £ 10,000.00 £ 10,824.32
Repairs and Maintenance / Cleaning
£ 10,000.00 £ 15,300.00
Marketing and Promotion £ 10,000.00 £ 10,824.32
Total Operating Expenses 317,017.60 347,625.72
Total Operating Expenses £317,018 £347,626
The assumptions for outgoings include Overheads – including, Heating, Lighting, Water - and
Staff Costs based on the following:
Also included in the forecasts are subcontract costs. These relate to additional staff being
brought in at busy periods of the year e.g. Christmas, Summer, special events.
The detailed forecasts are attached as Appendix I.
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8. Marketing and Promotion
8.1. The Aim
To deliver specific marketing and promotion of the Riverside Venue, alongside the wider
more generic promotion of our work as Open Newtown. Through this generate demand
and interest for the facilities available at the Venue.
Objectives
Through our marketing activities, we will:
Establish Riverside Venue as a key destination within the town of Newtown.
Develop a reputation as a provider of excellent food and service.
Be renowned for our sense of place and quality of design.
Generate customer demand for our food, drinks, ice cream and retail offer.
Generate demand for our conference and meeting room facilities.
Promote Open Newtown’s other facilities e.g. Activity Centre
Promote the work and facilities of our partners in the Town.
We will consistently develop a marketing identity for the Riverside Venue that is current, and in line with our wider strategic profile as Open Newtown.
Promote our wider ambitions as Open Newtown.
Measure the impact of our work.
Analysis
Our marketing and communications strategy also reflects our SWOT analysis and PESTEL
analysis that have been prepared to support this Business Plan.
8.2. Proposed Marketing Activities
Communications for all stakeholders.
Social network marketing via the following dedicated channels:
o Facebook o Twitter o YouTube o Instagram o Snapchat
Website A dedicated website for the new venue.
Direct marketing (i.e. digital newsletter, telesales)
PR campaigns (i.e. traditional press release and media relations)
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Events - we will work closely with event organisers to ensure that the Riverside Venue both supports and optimises the opportunities accorded through events.
Promotional (use of visual promotional media for productions/projects i.e. advertising, posters)
7.1 Opportunities
Reaching new audiences
A new facility provides us with a significant opportunity to raise our profile generally, and
specifically, and we will ensure that that opportunity is maximised.
Potential new market/audience reach opportunities:
OPPORTUNITY / THEME
REASONING
General Public of Newtown 11500 residents who have a need for a new quality venue. Will need to ensure that our primary promotion (through various channels) is targeted to our community.
Health & Wellbeing We will need to ensure that there is a demonstrable and tangible relationship between Health and Wellbeing and the offer at the Riverside Venue. This encompasses how we deliver our services, encourage people to come together (community cohesion), offer healthy food options and promote the Riverside as a cultural arts destination.
Sports Niche Markets. Cycling. Canoeing, Fishermen, Ramblers.
Need to understand the demand of these specific markets e.g. cycling facilities. Then need to reflect in our marketing strategy and collateral.
Tourism This is a very important but under exploited market at present. The new town plan, potential BID and our wider work all contribute to raising our profile as a tourist destination. This new facility can exploit that opportunity, but we will need to refine our marketing approach accordingly and identify appropriate off-lne and on-line channels in which to promote the Riverside.
Venue Opens up new market for venue hire (artists space, small scale arts venue).
Increased interior and exterior creative space
Increased capacity an opportunity to attract wider/larger community audience (includes potential urban green space).
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9. SWOT, PESTEL & Risk Register
Strengths
Location
Demand
Improved visual impact
Encourages use of the green areas of the Town
Part of a wider project
Potential Strong Brand and Effective Marketing
Support of the stakeholders .
Weaknesses
Lack of Experience
Competition
High Risk Factor
Franchising can lead to loss of control
No Licence
Opportunities
We have strong offer that aligns with a number of strategies. We can deliver Wellbeing Objectives
Sports and Recreational Market
Tourist Market
Resident Market
Corporate Market
Comedy Nights
Open Mike Nights
Themed Food Nights
Threats
Lack of Funding
Lack of Customers
Increased regulatory requirements
New competition in the town.
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PESTEL
EconomicJobs
Additional Spend in the town
Regeneration (TRI)
Commercialisation SocialYoung People
Older Genertation - Rural Loneliness
Social Cohesion
Sports and Recreation
Social Media
LegalGDPR
Employment Law
Discrimination
Food Hygiene
Health and Safety
EnvironmenalNew Buildiing
BREEAM Standard
TechnologicalVenue Facilities
Marketing though multi platforms
PoliticalWellbeing of Future
Generations
Public Sector Funding
Welsh Government Programme of Governnment
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H:
M:
L:
Probability Impact
MEDIUM HIGH
MEDIUM MEDIUM
MEDIUM MEDIUM
MEDIUM HIGH
MEDIUM HIGH
MEDIUM MEDIUM
LOW MEDIUM
LOW MEDIUM
Insufficient Funding (capital and revenue)
Margins too low
Continually review. Ensure that staff are expereienced at
maanging kitchens and budgets.
Newtown Regeneration Prorgramme (TRI)
does not deliver the revitalisation of the
Town.
Ensure that the business stratgegy is not too dependent
on other developments proposed by other agencies in
the town.
Staff Recruitment - Failure to recruit right
personnel
Menu development doesn’t meet
customer demand
Environmental Standards/Food Hygiene
Failure to meet income and revenue
targets.
Recruit effectively, and ensure that the Riverside Venue
staff are empowered to take decisions and deliver.
RIVERSIDE VENUE RISK REGISTER
Description of Risk Mitigation Strategy
HIGH
KEY MEDIUM
LOW
Increase staff capacity.
Recruit Proactively.
Continual Monitoring and Evaluation. Engage with
potential customers before opening. Also engage with
specialist advisors.
Continually monitor and review customer feedback and
patterns of spend.
Work closely with Powys CC to ensure adherence to
standards. Ensure that all staff are apprporiately trained
and CPD in place.
Partnership Working and Collaboration on Speficic
Projects.
Marketing Strategy
Revenue Fund Raising Strategy
Respond to new opportunities proactively.
2019-2024
Venue becomes the primary focus for
Open Newtown, and dilutes other
ambitions.
22
10. Conclusions
The Riverside Venue is a landmark project for Open Newtown.
It is a manifestation of all we are striving to achieve as company and will also help stimulate
and support the regeneration of Newtown.
Alongside the Activity Centre, the Riverside will mark the beginning of a significant programme of investment and activity that will transform the relationship between the town centre and the river and green spaces. This is a sustainable and commercially viable project, which will not seek future public subsidy. Instead using our self-generated resources Open Newtown will work with its partners and stakeholders to address issues of mutual concern including: - Urban Regeneration – supporting Welsh Government’s TRI Programme and the endeavours to establish a Business Improvement District - Tackling Poverty – through providing job opportunities, training, vocational support and vouchered food initiatives - Health and Wellbeing – this is a major focus of our work, and we see the Riverside as a major contributor to supporting the wellbeing agenda, including community cohesion, promotion of the environment, health and exercise, appreciation of our culture and enterprise.
This Plan shows that the ambitions of the project are achievable, sustainable and aligned with the ambitions of our community and our partners and will be a key asset for Newtown for many years to come.