Construct a strategic plan document that will help me with the considerations an
ID: 326491 • Letter: C
Question
Construct a strategic plan document that will help me with the considerations and alternatives when it comes to my multimillion-dollar investment. ( 1.) Convince me that your existing business or your idea of a new business is what I should invest in. (2.) I'm not looking for a detailed business plan. The criteria for the presentation should include the following information: 1. ?Type of business, 2. What's your differentation, 3. Your niche market, 4. The problem you are trying to solve, 5. Visible business plan, 6. Clear and precise Business Plan, 7. Rent or Buy, 8. Location, 9. Target Market, 10. Market Conditions, 11. Competition, 12. Target Human Captal, 13. Marketing and Promotions, 14. Clear undertanding of the Financial, 15. Need for technology, 16. Licences & Permits, 17. Organizational Structure, 18. Why You?
I am a major player in the bospitality industry across the US. I am curently seeking to expand my scope into the Fay market. Your challenge task is to construct a strategic plan document that will help me the considerations and alternatives when it comes to the million-dollar investment. Convince me that your existing business or your idea of a new business is what I should invest in I am not looking for a detailed business plan; however, you may even address some of the same opportunities perspective) should include the following: - Type of business (concept) number of successful ventures etieville - What's your differentiation What's your niche The problem you are trying to solve Viable business plan (from 215, 230) - Clear and precise BI Rent or buy (build) - Location- Perfect for what you offer Target Market-ideal customer (demographics) - Market conditions Competition Target human capital Marketing & Promotions Clear understanding of the financials Need for technology - - - Licenses&Permits; Organizational structure Why you?Explanation / Answer
Fayetteville (North Carolina) is emerging as a sports hub of the region. It has four beautiful golf courses, baseball clubs, ice-hockey tournaments and indoor football tournaments. It has potential to host other sports events too. The weather and climate of the place is humid subtropical climate with moderate temperatures throughout the year. The green and rustic surroundings make it place to relax and pursue sporting activities. Keeping this information in the background a business proposal is presented here.
Type of Business: Hospitality center for sporting people i.e. a hotel attached to a practice ground or sports amenity
Product / Service differentiation: A hotel that is designed to serve sports and fitness customers
Niche Market: Golfers, ice skaters, ice hockey players, tournament participants, sports coaches, sports tourists and sports journalists have specific needs to be satisfied when they travel
Problem solution: The sports people and sports oriented customers have specific needs when they travel which cannot be satisfied by the common hospitality organization. The proposed hotel will address the needs of the travelling sports people and the participants of the tournaments/coaching camps held in Fayetteville.
Visible Business Plan: Preparing a business plan with sufficient information and a comprehensible plan is the first step in proposing the new business. The information about Fayetteville, its sports activities, the scope for a sports hotel, the proposed services o the hotel, the responses of the prospective customers, etc. must be the content of the visible business plan
Clear and precise business plan: this document depicts the exact plans to be carried to make the business a reality. It is like a project plan with time schedules and resource allocations.
Rent or Buy: The decision to rent or buy depends on the strategy of the business. From a casual analysis, renting the property would be more productive than owning and a building a new facility. By renting the property, the company can quickly move into the business.
Location: the amenities center and hotel must be in the outskirts of the Fayetteville city but must be accessible to the golf courses, stadiums and sporting venues.
Target market: Sports people and those who lead physically active life
Market conditions: The population of Fayetteville is low and it cannot be target market, sports people who travel, who visit the golf courses and participate in the city sporting events are the customers. North Carolina has not yet emerged as the sporting hub, but it has potential to have round the year sporting activity because of its climate.
Competition: Competitive activity in the sports sector is not yet evident with respect to hospitality industry
Human capital: as the local population is include to be attached to their city, the human resources required for the project can be obtained from the city.
Marketing and Promotions: since the customers are from the outside of the city and the North Carolina state, the promotions of the sports hotel must happen in other cities such as Houston, New York, Chicago, San Francisco, Los Angeles, Detroit, etc. The promotions may include online ads, niche promotions such as sponsoring of sports events in Fayetteville, etc.
The Project report to be presented will have the detailed project cost and the forecast of the revenue flows
Technological needs: Communication and Information technology systems, sports utility technologies such as automatic feedback systems
Licenses and Permits: since the proposed business is in sports sector, obtaining licenses and permits may not be a complex activity
Organization structure: The organization may follow standard structure of hospitality industry, especially a hotel, but the employee orientation must be towards enhancing sports
Why me? : Since I am associated with many sporting clubs as a fitness evaluator and is keen to develop a business of my own, I can manage the project successfully. The niche business suggested is likely to success as the needs of the sports people are not met by any other hospitality organizations.