Parrot’s Peak Bar and Grill

Market Research

Owners: Dana Ikeda, Phoebe Lam, Katie Scurato, Melinda

Walters
 Margate is a city located on the New Jersey Coastline surrounded by Ventnor and

Longport, and is very close to Atlantic City. Just in-land are Linwood and Northfield.

Throughout the year Margate has a population of about 6,000 and the average age is 60.

Although the mean age of those living in Margate and Longport is roughly 60, Linwood,

Northfield and Ventnor’s mean population age is about 45. These three cities also have a mean

family size above 3. This indicates that there are many families in the nearby area as well as

people of legal drinking age to enjoy the atmosphere offered at Parrot’s Peak Bar and Grill. The

average household income in Margate is about $70,000, allowing our middle of the line menu

pricing to draw in everyday families who want a nice dinner without spending too much. During

the summer season, the coastline cities flood with families and individuals of all ages that live in

or rent summer homes by the beach, which is when Parrot’s Peak Bar and Grill is expecting a

majority of its revenue to be earned. Just Longport alone, which has a full-time residency

population of about 1,093, experiences a summer population explosion of about 8 to 10 times the

number of the full-time population, especially on weekends. We will be busiest during this time,

and we will be open long hours to accommodate customers looking for dinner after a day at the

beach, a Saturday/Sunday brunch, or a place to enjoy a few drinks out at night.

Three of Parrot’s Peak’s potential nearby competitors are Tipsy Taco and Tequila Bar,

Ventura’s Greenhouse Restaurant, and Margaritaville. Tipsy Taco is only about a 5-minute drive

down Ventnor Ave and could be a potential night hotspot due to their bar. Ventura’s Greenhouse

is a likely competitor since they have both seafood available in the summer as well as their own

interpretation of a Tiki bar. What makes Parrot’s Peak stand out is our lower priced menu,

vibrant and cozy indoor representation of a Tiki bar, as well as a focus on Caribbean-American

cuisine. Ventura’s menu is primarily a clash of American-Italian dishes with seafood dishes
being available during the summer months. Margaritaville is a potential competitor because they

share the same tropical, colorful vibe as Parrot’s Peak, with some similar menu offerings.

Competitor Location Hours & Price Range Why A Competitor?

Tipsy Taco 9401 Ventnor Sunday: 11am-9pm - Similar bar with live music
and Tequila Ave, Margate (Brunch until 3pm + during Sunday brunch
Bar City, NJ 08402 Regular Menu) - We are open later so people
Mon-Thurs: 11am- will come to us instead
10pm
Friday & Sat: 11am-
11pm
Price Range: $3-20

Ventura’s 106 S Benson Hours Vary - Similar Tiki-esque bar,

Greenhouse Ave, Margate Mother’s Day-October however our restaurant is
Restaurant City, NJ 08402 Tiki bar is open indoors so the weather will
Heated rooftop bar not affect it
open weekends - Menu items are different
starting Memorial but its atmosphere, location
Weekend and bar are competitive to us
Price Range: $9-23 -bars are closed in off season
while ours is always open

Margaritaville 1133 Sunday: 11am-10pm - Similar decor and tropical

Boardwalk, Mon-Fri: 11am-10pm atmosphere
Atlantic City, Saturday: 7am-11pm - Similar menu, however our
NJ 08401 Price Range: $13-25 prices are slightly more
affordable

As we differentiate ourselves from our competitors, we will also be able to draw people

in from the activities occurring within the nearby towns as well as nearby popular attractions.

During the summer season we anticipate to have good revenue as the draw of the nearby beach
will be enough to get people to come to our restaurant. However, throughout the year, we will

rely on various town activities and events to draw people in. In the off-season, locals participate

in both school related and intramural community events. Pickleball is just one of the community

intramural sports offered at Margate’s Recreation Departments occurring through the winter and

spring seasons. There are also events frequently held at Margate’s Community Pavilion from

9am to 3pm. These hours coincide with the school hours within the town. Therefore, those of all

ages are welcomed to enter our establishment to refuel and continue the fun and socializing after

school or events on these days. Yoga is another popular recreational activity occurring within the

town in the off-season which runs from 6-7pm. After the workout we hope people will want to

stop by Parrot’s Peak for a delicious, inexpensive, no-effort dinner after a long day of work,

school, and after-school activities. School sporting events are frequently occurring in which

families from even other high schools may be drawn into town for the competition. This allows

the introduction of new families to the offerings of our restaurant for bonding and celebration

after events, games, and tournaments. We do not open during the week until 4pm to

accommodate families who are busy during the day, but hope to have a nice evening dinner with

their families.

During the summer months, there is an exponential increase in the amount of families

and individuals flooding into town. Many families and young individuals come to live or

vacation on the Jersey Shore even for just a day at the beach. These people are looking for the

escape and seaside vacation experience that Parrot’s Peak can give them. In addition to the in-

lander’s visits, there are also Funfests and Beach Parties offered by Margate that attract everyone

into town. When these events are over, or perhaps before they begin, these people might be

looking for a close by dinner spot to eat at and will come to our restaurant.
 Another major attraction to the shore-side year-round are the nearby hotels and nightlife

associated with Atlantic City. Atlantic City pulls in nearly 27 million visitors a year. As Margate

is a nearby town, just about 20 minutes away, we are likely to welcome those who are wishing

for a new night scene, late morning meals to suffice hangovers, and those looking for a cheaper

place to stay but one that is still within reasonable proximity to the best of both the nightlife and

daytime relaxation.