Cosy Corner Lounge is a newly launched cocktail bar situated in Porthcawl, run by Sophie Thomas and her husband.
With experience running other cocktail bars across South Wales, Sophie decided to launch her own business in the sector and approach Business Wales for support.
The company began renovating their premises in early 2016, with support and business planning advice from Business Wales, and launched the Cosy Corner Lounge in August, creating 11 jobs within the local community.
How has Business Wales helped Cosy Corner Lounge?
“Business Wales opened my eyes to a lot of different aspects I needed to consider when getting my business up and running, and their support was incredibly helpful.”
Sophie initially turned to Business Wales for support to develop her business plan to give her a solid foundation to use in applying for finance to launch the business. After the initial discussions with her business advisor to develop this plan, she also received in-depth guidance and advice on other key areas of the business e.g. market research, finance, recruiting staff and developing employee contracts.
By creating a more coherent business plan, Cosy Corner Lounge was able to secure funding from NatWest as well as benefitting from local authority grants such as the ‘Kick Start’ grant.
The proudest moment in business
“Opening the doors to the premises for the first time.”
Top Tips for Aspiring Entrepreneurs
- Always overestimate your expenses and underestimate your projected revenue
- Choosing your team is one of the most important things you'll do! They could make or break your new business venture
- It's always great to listen to what your customers want but even more important to stay true to yourself and believe in your niche
- Don't take yourself too seriously
- Take a moment to reflect and to be proud of your achievements