The Terrace

Bars & Pubs · New York, NY

Business Summary

The Terrace is a beloved dive bar in New York offering no-frills drinks at affordable prices. Its unpretentious atmosphere and character have earned it a dedicated following among locals and visitors alike.

Location & Competitors

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Neighborhood
Urban/Commercial
Foot Traffic
Very High
Parking
No dedicated parking
Transit Access
Excellent - subway and bus access
Nearby Landmarks
Subway stationHotels

Competitive Landscape

BusinessDistanceDigital ScoreThreat Level
Alison
1.29km
71/100
Strong
High
Maxwell’s
1.29km
53/100
Average
Medium
Barawine
1.45km
48/100
Average
Medium
Goyana
1.61km
31/100
Weak
Low

Competitive Summary

Showing 4 of 4 competitors within 5km. There are 1 digitally strong competitors nearby.

Financial Estimates

Financial Overview

Estimated Value$1115K
Industry Margin16%
Entry Cost$550K

Market Analysis

Market Size$3B+ in NYC metro
TrendGrowing
SeasonalityPeak during summer months and holiday season; slower in January-February

Consumer Trends

Increasing preference for craft cocktails and local brewery partnerships

SWOT Analysis

Strengths

Internal advantages

  • •Experienced management team
  • •Unique concept differentiating from competitors

Weaknesses

Areas for improvement

  • •Aging interior may need renovation
  • •High operating costs in NYC market

Opportunities

External potential

  • •Expand brunch or daytime service hours
  • •Introduce loyalty program to increase retention

Threats

External risks

  • •Post-pandemic changes in nightlife habits
  • •Economic downturn reducing discretionary spending

Strategic Recommendations

Quick Wins

Implement this week

Implement happy hour specials to drive weekday traffic

Launch Instagram and TikTok content strategy

Growth Strategies

1-3 months

Build email list for event announcements and promotions

Launch themed event nights to attract new demographics

Risks to Monitor

Ongoing vigilance

Reliance on weekend revenue creates cash flow volatility

Regulatory changes could impact operating hours

Startup Ideas

AI-generated business opportunities inspired by this analysis

1

Virtual Mixology Classes

Host online cocktail-making workshops featuring bartenders from popular NYC establishments.

2

Non-Alcoholic Bar Concept

Open a sophisticated bar focusing exclusively on craft non-alcoholic beverages and mocktails.

3

Bar Crawl App

Create an app connecting bar-goers with curated crawl routes, drink specials, and group coordination tools.

Validate with DeepFounderExplore More Businesses

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Digital Score

56/ 100
Fair

Quick Stats

Competitors4
Est. RevenueN/A
Market TrendGrowing
Digital Score56/100

Contact Info

New York, NY
+1-347-476-2401
Website
Most popular

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