Milestones & Metrics
- 1.Securing funding for the lounge
- 2.Finding and securing a suitable location for the lounge in Bangkok
- 3.Designing and renovating the interior of the lounge to reflect our unique blend of ancient Thai and contemporary design
- 4.Hiring and training staff for the lounge
- 5.Developing and implementing a marketing strategy to attract customers
- 6.Launching the lounge and hosting our first members-only event
- 7.Hosting our first public event to introduce the lounge to the community
- 8.Achieving profitability within the first year of operation
- 9.Expanding to additional locations in Bangkok, and eventually, other major cities in Thailand
- 10.Building a loyal customer base and consistently achieving high customer satisfaction ratings.
Performance metrics are important for understanding how a business is performing and identifying areas for improvement. For our lounge in Bangkok, some key performance metrics include:
- Sales revenue: This is a key metric for understanding the financial performance of the business and determining whether we are meeting our financial targets.
- Occupancy rate: This metric measures how full the lounge is on a regular basis, providing insight into the popularity of the venue and the effectiveness of our marketing efforts.
- Customer satisfaction: We will measure customer satisfaction through surveys and feedback, this will help us understand what our customers like and dislike about the lounge and identify areas for improvement.
- Social media engagement: We will monitor engagement on our social media platforms to gauge customer interest and engagement with our brand.
- Employee satisfaction: We will measure employee satisfaction through surveys and feedback to ensure that our staff are happy and motivated in their roles, which will ultimately lead to better service for our customers.
Success for us would mean achieving our financial targets, maintaining a high occupancy rate, consistently receiving positive feedback from customers and employees, and having a strong social media presence. We will track these metrics regularly to ensure that we are on the right track and make any necessary adjustments to improve performance.