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.