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A Comprehensive Guide to Finding the Best All-Inclusive Resorts in Jamaica
Jamaica is a tropical paradise known for its stunning beaches, vibrant culture, and warm hospitality. When planning a vacation to this beautiful island, one of the key decisions you’ll need to make is choosing the best all-inclusive resort. With so many options available, it can be overwhelming to find the perfect fit for your needs and preferences. In this comprehensive guide, we will explore the factors you should consider when searching for the best all-inclusive resorts in Jamaica.
The first aspect to consider when looking for the best all-inclusive resort in Jamaica is its location. Different parts of the island offer unique experiences and attractions. If you’re seeking a lively atmosphere with bustling nightlife and entertainment options, resorts located in Montego Bay or Ocho Rios might be your best bet. On the other hand, if you prefer a more secluded and serene setting, Negril or Runaway Bay could be ideal choices.
Additionally, proximity to popular tourist attractions can enhance your overall experience. Look for resorts that offer easy access to iconic landmarks like Dunn’s River Falls or Bob Marley’s birthplace in Nine Mile. Being close to these attractions will allow you to explore the rich history and natural wonders of Jamaica without spending hours on transportation.
Amenities and Activities
One of the main advantages of staying at an all-inclusive resort is having access to a wide range of amenities and activities without any extra costs. Before making your decision, carefully review what each resort has to offer in terms of facilities such as pools, spas, fitness centers, restaurants, bars, and water sports equipment rental.
If you’re traveling with children or looking for family-friendly options, prioritize resorts with dedicated kids’ clubs or childcare services. For those seeking relaxation and wellness experiences, look for resorts that boast world-class spas offering rejuvenating treatments and yoga classes.
Furthermore, consider the variety of activities available at each resort. Whether you’re interested in snorkeling, scuba diving, golfing, or exploring the local culture through cooking classes and reggae dance lessons, choose a resort that aligns with your interests to make the most of your vacation.
Food plays a significant role in any vacation experience, and all-inclusive resorts in Jamaica are known for their delectable cuisine. When researching resorts, pay close attention to their dining options. Look for establishments that offer a wide variety of restaurants serving different cuisines such as Jamaican specialties, international dishes, seafood, and vegetarian or vegan options.
Some resorts also offer themed nights or specialty dining experiences where you can indulge in gourmet meals prepared by renowned chefs. Additionally, check if the resort provides 24-hour room service for those late-night cravings or early morning breakfasts on your private balcony.
Guest Reviews and Recommendations
Lastly, don’t forget to read guest reviews and recommendations when choosing the best all-inclusive resort in Jamaica. Websites like TripAdvisor and Booking.com provide valuable insights from previous visitors regarding their experiences at various resorts. Pay attention to comments about customer service, cleanliness, food quality, and overall satisfaction.
It’s important to remember that everyone has different preferences and expectations when it comes to vacations. Take these reviews as guidance but also consider your own priorities and requirements. By combining guest feedback with your research on location, amenities, activities, and dining options, you’ll be able to make an informed decision that suits your needs perfectly.
In conclusion, finding the best all-inclusive resort in Jamaica requires careful consideration of factors such as location, amenities and activities offered by the resort, dining options available on-site or nearby attractions as well as reading guest reviews. With this comprehensive guide at hand, you’ll be well-equipped to choose a resort that will provide you with an unforgettable and hassle-free vacation experience in the tropical paradise of Jamaica.
This text was generated using a large language model, and select text has been reviewed and moderated for purposes such as readability.
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Resort Business Plan Template
Resort business plan.
You’ve come to the right place to create your Resort business plan.
We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Resort companies.
Below is a template to help you create each section of your Resort business plan.
Ocean View Hotel & Resort is a brand-new luxury resort located in beautiful Palm Beach, Florida. Our priority is to provide tourists and guests with a first-class luxurious vacation experience that they can’t find anywhere else in Palm Beach. We offer all the best amenities a resort could have including a full spa, a heated pool, a gym, a golf course, and tennis courts. We are also conveniently located right on the beach, so our guests can easily soak up the sun and enjoy the ocean at their leisure. We are also conveniently located near numerous shopping districts, nightclubs, and popular tourist destinations. Ocean View Hotel & Resort is the perfect resort for anyone looking for the ultimate Palm Beach vacation experience.
Ocean View Hotel & Resort is led by Jacob Ellis who has been in the resort industry for over 20 years. While Jacob has never developed a resort from the ground up, he has worked most recently as a general manager of a large resort, and has held various management-level positions in the industry over the years. Jacob Ellis has a Master’s degree in Hospitality Management and will use his expertise and experience to start his own resort.
Ocean View Hotel & Resort will provide a full suite of luxury resort amenities, all featuring streamlined customer service and convenience.
Some of the amenities we offer include:
- Golf course
- Tennis Courts
- Heated Swimming Pool
Ocean View Hotel & Resort is located on the beach so guests can enjoy the sun and the ocean at their leisure. The resort is also located near shopping districts, nightclubs, and other popular destinations that our guests can easily access and enjoy.
Ocean View Hotel & Resort will primarily serve tourists traveling to Palm Beach, Florida. We expect many of our guests to be affluent and have the disposable income needed to pay for the luxurious amenities we offer.
Ocean View Hotel & Resort will be able to achieve success by offering the following competitive advantages:
- Location: Ocean View Hotel & Resort’s location provides the best access to the beach, shopping districts, nightclubs, and other amenities. The Company also offers adequate parking (along with valet parking), making it easy for customers to relax upon arrival.
- Luxurious Amenities: The resort will be full of luxurious amenities, including a full spa, gym, heated swimming pool, and golf course.
- Management: The management team has years of resort industry experience that allows the Company to market and serve customers in the same manner as its most sophisticated competitors.
- Relationships: Having visited the community for a number of years, Jacob Ellis knows all of the local leaders, newspapers, and other influences. As such, it will be relatively easy to build brand awareness of the resort.
Ocean View Hotel & Resort is currently seeking $7,000,000 to launch. Specifically, these funds will be used as follows:
- Resort design/build: $6,500,000
- Three months of overhead expenses (payroll, rent, utilities): $250,000
- Marketing costs: $100,000
- Working capital: $150,000
Who is ocean view hotel & resort, ocean view hotel & resort history.
After completing a market analysis, Jacob Ellis incorporated Ocean View Hotel & Resort as an S-Corporation on January 2023.
The resort development operations are currently being run out of Jacob Ellis’s home office. Once the land rights have been purchased, operations will be run from an on-site location.
Since incorporation, the Company has achieved the following milestones:
- Found site location and signed the land deed purchasing rights to the land
- Developed the company’s name, logo, and website
- Hired an architecture firm to create a blueprint of the resort
- Started taking bids from construction crews and electrical engineering firms
- Determined equipment leasing and financing requirements
- Began recruiting key employees
Ocean View Hotel & Resort’s Services
The global hotel and resort industry is valued at approximately $4.5T with more than 700,000 hotels and resorts operating worldwide. Even with the challenges of the recent pandemic, people are eager to travel and stay in luxury accommodations. According to PR Newswire, the industry is expected to grow substantially throughout the rest of the decade, growing at a CAGR of 17.4% until 2030. This shows that even though the pandemic halted travel temporarily, the industry is bouncing back and resorts are going to see a profitable decade.
Demand determinants for the hotel and resort industry include economic conditions, disposable income levels, and consumer preferences regarding hospitality and leisure spending. Over the past few years, consumer preferences have been shifting significantly. Customers are now looking for more personalized service, business-leisure opportunities, health and wellness accommodations, and digital guest experiences.
The hotel and resort industry is highly fragmented with intense competition from major players to single-location operators. Small resort businesses can compete in a variety of ways, however. Industry operators that offer a unique niche, affordable prices, in-demand locations, and amenities that appeal to the modern consumer can run a competitive resort business.
Demographic profile of target market.
Ocean View Hotel & Resort will serve the tourists visiting Palm Beach and its surrounding areas. The community of Palm Beach is a very popular tourist destination. Many of the tourists that visit are affluent or have the disposable income to spend on a luxurious vacation.
Some of our guests may be residents in local communities looking for a great place for a staycation. The demographics of Palm Beach are as follows:
Ocean View Hotel & Resort will primarily target the following customer profiles:
- Local residents
- International tourists
- Domestic tourists
Direct and indirect competitors.
Ocean View Hotel & Resort will face competition from other companies with similar business profiles. A description of each competitor company is below.
Shady Palms Resort
Shady Palms Resort is a hotel in Palm Beach. Shady Palms Resort is a leading hotel and has been in business for over 40 years. The hotel offers a wide array of services and amenities that you typically find at a hotel. Shady Palms Resort offers luxury accommodations and a five-star restaurant and lounge. Shady Palms Resort is the current most popular choice for tourists in the area because of its proximity to the airport and local attractions such as the Fine Art Museum and movie theater.
This hotel does not have full-service resort amenities, however. Nor does it have the latest digital technology for any of its services or room accommodations.
Super Adventure Resort
Super Adventure Resort is a family-oriented resort located 20 miles from Palm Beach. This resort specializes in providing wildlife adventure tours. The property also has a variety of amenities including a hotel, spa, pool, restaurant, bar, and gift shop.
Super Adventure Resort is far from any other local attractions, the airport, or any other modern conveniences such as grocery stores or gas stations, making it an out-of-the-way getaway, but not conveniently located.
Sunny Shores Hotel
Sunny Shores Hotel is a local hotel that has a few resort-style amenities such as a spa, salon, and fitness center in addition to its traditional hotel accommodations, restaurants, bar, lounge, pool, tennis courts, and free transportation to and from the airport. Sunny Shores Hotel is located close to a variety of local attractions and scenic areas. Guests can go hiking or bicycling on trails nearby or easily access public beaches.
While Sunny Shores Hotel has many appealing accommodations, it lacks the modern technology, full-service amenities, and additional attractions Ocean View Hotel & Resort will provide.
Ocean View Hotel & Resort will be able to offer the following advantages over the competition:
Brand & value proposition.
Ocean View Hotel & Resort will offer a unique value proposition to its clientele:
- Convenient location close to local attractions and the beach
- Luxurious amenities
- Exceptional personalized customer service
The promotions strategy for Ocean View Hotel & Resort is as follows:
Ocean View Hotel & Resort will invest heavily in a social media advertising campaign. The brand manager will create the Company’s social media accounts and invest in ads on all social media platforms. It will use targeted marketing to appeal to the target demographics.
Ocean View Hotel & Resort will invest heavily in developing a professional website that displays all of the features and benefits of the resort. It will also invest heavily in SEO so that the brand’s website will appear at the top of search engine results.
Ocean View Hotel & Resort will initially advertise on travel websites, which are frequently used to book travel due to their ease of use and reviews.
Ongoing Customer Communications
Ocean View Hotel & Resort will publish a monthly email newsletter to tell new and past customers about promotions and events.
Ocean View Hotel & Resort’s pricing will fluctuate based on the season and occupancy percentages. However, we will typically charge similar rates as other luxury resorts in the area.
The following will be the operations plan for Ocean View Hotel & Resort.
- Jacob Ellis will be the owner of the resort and hire the appropriate staff to manage it. He will also act as CEO and manage the overall operation and executive functions of the company.
- Rebecca Ellis will be the Administrative Assistant and assist Jacob with all the administrative tasks for the company.
- David Blyg will act as the Maintenance Engineer and attend to all mechanical and plumbing issues that may arise.
- Jacob will hire a General Manager and Assistant Manager to run the resort.
- Jacob will also hire a full staff of housekeepers, desk attendants, and other employees to run and manage all aspects of the resort (such as the bar, cafe, and spa).
Ocean View Hotel & Resort will have the following milestones completed in the next six months.
- 3/202X Finalize land purchase
- 4/202X Finalize blueprints for the resort
- 5/202X Hire and train initial staff
- 6/202X Kickoff of promotional campaign
- 7/202X Finish building the resort
- 8/202X Launch Ocean View Hotel & Resort
Key revenue & costs.
Ocean View Hotel & Resort’s revenues will come primarily from booking fees for the resort’s many amenities. The company will charge varying rates per night based on demand and seasonality. Ocean View Hotel & Resort will also sell multiple packages to appeal to a range of guests, such as a health and wellness package and a staycation package.
The land purchase, equipment, supplies, and labor expenses will be the key cost drivers of Ocean View Hotel & Resort. Other cost drivers include marketing expenses, maintenance, and taxes.
Funding Requirements and Use of Funds
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Average nightly rate: $500
- Year 3: 100
- Year 4: 125
- Year 5: 150
Income statement, balance sheet, cash flow statement, resort business plan faqs, what is a resort business plan.
A resort business plan is a plan to start and/or grow your resort business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your Resort business plan using our Resort Business Plan Template here .
What are the Main Types of Resort Businesses?
There are a number of different kinds of resort businesses , some examples include: Health Spa Resort, Ski Resort, Eco-tourism Resort, Destination Resort, and All-Inclusive Resort.
How Do You Get Funding for Your Resort Business Plan?
Resort businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.
What are the Steps To Start a Resort Business?
Starting a resort business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Resort Business Plan - The first step in starting a business is to create a detailed resort business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your resort business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your resort business is in compliance with local laws.
3. Register Your Resort Business - Once you have chosen a legal structure, the next step is to register your resort business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your resort business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Resort Equipment & Supplies - In order to start your resort business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your resort business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
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Beach Resort Business Plan
Beach Resort Business Plan – Executive Summary Turtle Beach Resort is a different from others resort in Terengganu – Kuala Terengganu that was established to cater to the locals as well as visitors and tourists and also to make profit as well. We will offer our customers the ultimate place for them to have fun and relax. We also have rooms for rent for those that intend to stay over for a little while. Our location across three acres of waterfront property has afforded us a vantage point over our competitors as we are located close to one of the world's famous beaches that attract locals and visitors alike. We intend to fully utilize our location to full advantage. Our vision is to ensure that we are the preferred beach resort in the Terengganu as well as the whole country and that we attain this goal by the year 2020. To achieve this, we will go through the extra mile of picking those that would best serve the purposes of our resort. Our marketing executives, which is me have been empowered to draft and implement strategies that will not only make us penetrate the target market but also make us stand out from others. We intend to engage in intense publicity to ensure that we create awareness about our beach resort to our community, state and the whole Malaysia We will not relent in ensuring that we offer our customers excellent service when it comes to customer care. Therefore, our customer care executives as well as those working on the front desk have been adequately trained to attend to the inquiries and complaints of customers promptly. • Business Overview The social media has been a big driver of the beach resort trend because platforms such as Instagram has taken presentation to a whole new level as potential customers want to see something exciting and unique before they can be tempted to part with their money. The hospitality industry which consists of hotels and resorts has experienced a strong growth from 2010 to 2015. The growth has been due to increased travel globally due to a boom in international tourism. The next five years (2010 to 2020) will see this industry continue to boom, as the economy grows and allows more consumers to have more funds in which they will use for vacationing and beach resort trips. Globally however, Asia Pacific has continued to lead in the beach resorts business due to a large number of beaches in these continents, while the Middle East and Africa has led in the area of having expensive rates. The consumer group for beach resorts is rising and will continue to do so in 2018 as more people will use their mobile devices as well as apps to check out beach resorts and make their reservations or cancel them. Resorts are now competing with hotels in terms of allowing customers have seminars, conferences, conventions and symposiums. This has opened up more of the target market for the resort business allowing them tap into areas that were majorly for hotels. Also, beach resorts have received a boost from couples who prefer the privacy and simplicity to that of hotels. This is also another target market that has been opened up for the resort business.
DR. ALAA ABUKHALIFEH
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How To Write a Business Plan for Beach Resort in 9 Steps: Checklist
By henry sheykin, resources on beach resort.
- Financial Model
- Business Plan
- Value Proposition
- One-Page Business Plan
Are you dreaming of starting your own beach resort business? The beach resort industry in the US is booming, with a combination of hotel rooms and vacation rentals proving to be a popular and profitable business model. According to the American Hotel and Lodging Association, the hotel industry contributed over $600 billion to the US economy in 2019, and the vacation rental market is rapidly growing as well. So, if you're ready to dive into this exciting industry, let's get started on creating a business plan for your beach resort!
Step 1: Research the target market and identify potential customers. It's essential to understand your target market and their preferences, such as the type of accommodations they prefer and the amenities they value. Conduct market research to gather information about potential customers and their buying habits.
Step 2: Analyze the competition and identify unique selling points. Research other beach resorts in the area and identify what sets them apart. Find your niche and determine how you can offer a unique experience to attract guests.
Step 3: Determine the location and assess its suitability for a beach resort. Consider factors such as accessibility, proximity to tourist attractions, and the overall appeal of the location. A prime beachfront location can significantly impact the success of your resort.
Step 4: Conduct a feasibility study to evaluate the financial viability of the business. Analyze the costs involved in setting up and running a beach resort, including construction, permits, and ongoing expenses. Determine if your projected income will outweigh the costs.
Step 5: Determine the target demographic and tailor amenities and services accordingly. Identify the type of guests you want to attract and design your resort's offerings to meet their needs and preferences.
Step 6: Develop a comprehensive marketing plan to attract customers. Utilize various marketing strategies such as online advertising, social media campaigns, and partnerships with local businesses to promote your beach resort.
Step 7: Identify the necessary permits, licenses, and legal requirements for opening a beach resort. Ensure that you comply with all local, state, and federal regulations before starting your business to avoid any legal issues.
Step 8: Create a detailed budget and financial projections. Plan your finances meticulously, taking into account all expenses and projected revenue. This will help you determine if your beach resort is financially viable.
Step 9: Develop a staffing plan and outline the necessary roles and responsibilities. Determine the number of employees you will need to operate the resort smoothly and define their roles and responsibilities in detail.
By following these 9 essential steps and creating a comprehensive business plan, you'll be well on your way to opening your own successful beach resort. So, grab a piña colada, put your feet in the sand, and turn your dream into a reality!
Research The Target Market And Identify Potential Customers
Before diving into the planning process for your beach resort, it is crucial to research and understand your target market. Identifying your potential customers will provide valuable insights that can help shape your business strategy and offerings.
1. Conduct Market Research: Begin by gathering information and data about the beach resort industry in your desired location. Take into account factors such as the demand for beach resorts, current market trends, and consumer preferences. Look for any gaps or untapped opportunities that your resort can fulfill.
2. Define Your Ideal Customer: Determine the specific demographic and psychographic characteristics of your target market. Consider factors like age, income level, lifestyle preferences, and travel behaviors. This will help you tailor your amenities, services, and marketing efforts to meet their needs and expectations.
3. Analyze Competitor Behavior: Study the existing beach resorts in your chosen location and understand their target market, pricing strategies, and unique selling points. Identify what sets your resort apart and how you can position yourself as a preferred choice for potential customers.
- Utilize online resources, such as industry reports, market research databases, and social media insights to gather information about your target market.
- Consider conducting surveys or focus groups to gather direct feedback from potential customers.
- Visit similar beach resorts or talk to industry professionals to gain firsthand knowledge about customer preferences and market dynamics.
4. Identify Customer Needs: Determine what your potential customers are looking for in a beach resort. Are they seeking relaxation, adventure, family-friendly activities, or a combination of these? Understanding their needs will help you design amenities and services that cater to their desires, ensuring a positive and memorable experience.
5. Segment Your Market: Divide your target market into distinct segments based on factors like age, income, lifestyle, and travel preferences. This will allow you to tailor your offerings to specific segments, ultimately increasing your appeal and attracting a wider range of customers.
By thoroughly researching your target market and identifying potential customers, you will be equipped with the insights needed to develop a business plan that aligns with their needs and desires. This foundation will set you on the path to create a successful and profitable beach resort.
Analyze The Competition And Identify Unique Selling Points
When starting a beach resort business, it is crucial to analyze the competition in the market and identify your unique selling points. This analysis will help you understand what sets your resort apart from others and how you can attract customers.
Begin by researching other beach resorts in the area and examining their offerings, pricing, and customer reviews. Look for any gaps in the market that you can fill with your resort's unique features or services. Consider factors such as the quality of accommodation, amenities, customer service, and location.
Identify your unique selling points by focusing on what makes your resort stand out. This could be a specific target market, such as families or luxury travelers, or unique amenities and services that competitors do not offer. For example, if your resort has a private beach, offers personalized concierge services, or has exclusive partnerships with local attractions, highlight these points to attract potential customers.
Highlight your competitive advantage by showcasing how your resort is different from the competition. It could be through offering lower prices, providing all-inclusive packages, or having exceptional customer reviews and ratings. Use this advantage to position your resort as the top choice for customers.
- Regularly monitor your competitors to stay updated on their offerings, promotions, and customer feedback. This will help you adapt your business strategies accordingly and stay ahead of the competition.
- Consider conducting guest surveys and collecting feedback to understand what customers value the most. Use this information to enhance your resort's unique selling points and improve your services.
Determine The Location And Assess Its Suitability For A Beach Resort
When it comes to a beach resort, the location plays a critical role in its success. Finding the perfect location requires careful consideration and assessment of various factors. Here are some important steps to take to determine the suitability of a location for a beach resort:
- Research beach destinations: Start by researching popular beach destinations in the US. Look for locations known for their pristine beaches, good weather, and tourist attractions. Consider factors such as accessibility, proximity to major cities, and transportation options.
- Evaluate local demand: Assess the potential demand for a beach resort in the chosen location. Look at the number of tourists visiting the area, the existing hotel and vacation rental occupancy rates, and any seasonal fluctuations in demand.
- Examine competition: Study the competition in the area. Identify other beach resorts, hotels, and vacation rentals in proximity. Analyze their offerings, pricing, and customer reviews to identify gaps or areas where you can differentiate your resort and provide unique value.
- Analyze infrastructure and amenities: Evaluate the existing infrastructure and amenities in the vicinity of the location. Look for access to essential utilities such as water, electricity, and transportation. Consider the availability of restaurants, shops, and recreational activities that can enhance the guest experience.
- Consider environmental factors: Assess the environmental factors that can impact the suitability of a location for a beach resort. Look for issues such as erosion, potential for natural disasters, and the overall ecological sustainability of the area.
- Consult local authorities: Reach out to local authorities to understand any zoning regulations, building restrictions, or permits required to open a beach resort in the chosen location. Consult with them to ensure compliance with all legal requirements.
- Visit the potential location at different times of the day and week to get a sense of the atmosphere and level of activity there.
- Talk to locals and business owners to gather insights about the area, including any challenges or opportunities.
- Consider collaborating with local tourism agencies to leverage their knowledge and networks for marketing and promotional efforts.
Determining the location and assessing its suitability for a beach resort requires thorough research and analysis. By carefully evaluating factors such as demand, competition, infrastructure, and environmental aspects, you can select a location that offers the best opportunities for success.
Conduct A Feasibility Study To Evaluate The Financial Viability Of The Business
Before embarking on any business venture, it is crucial to assess the financial viability of the business idea. Conducting a feasibility study allows you to evaluate whether your beach resort business will be profitable and sustainable in the long run.
During the feasibility study, you will gather and analyze data to determine the potential demand for your beach resort, as well as the costs involved in establishing and operating the business. This analysis will help you make informed decisions about the feasibility of your business idea.
Here are some important steps to consider when conducting a feasibility study:
- Research the market: Gain a comprehensive understanding of the market for beach resorts in your target area. This includes analyzing existing demand and identifying potential customers.
- Evaluate the financial aspects: Determine the initial investment required to start the beach resort, including the costs of acquiring or constructing the property, purchasing necessary equipment, and obtaining permits and licenses. Additionally, estimate the ongoing operational costs, such as property maintenance, staffing, utilities, and marketing expenses.
- Analyze revenue potential: Assess the potential revenue streams for your beach resort, including room rates, vacation rental income, and revenue from on-site amenities. Consider market trends and competition to help determine pricing strategies and projected occupancy rates.
- Conduct a risk analysis: Identify potential risks and challenges that may impact the financial viability of your business. This could include factors such as seasonality, changes in local regulations, or unexpected market fluctuations.
Tips for conducting a feasibility study:
- Consult with industry experts or hire a professional consultant to assist with the feasibility study. Their expertise and experience can provide valuable insights.
- Collect as much relevant data as possible, including market research, financial records, and industry reports. This will help ensure your feasibility study is accurate and comprehensive.
- Be realistic and objective in your analysis. Consider both best-case and worst-case scenarios to have a thorough understanding of the potential risks and rewards.
- Regularly review and update your feasibility study as circumstances or market conditions change. This will help you make informed decisions throughout the planning and implementation process.
By conducting a thorough feasibility study, you can assess the financial viability of your beach resort business and make well-informed decisions. This step is essential in ensuring the long-term success and sustainability of your venture.
Determine The Target Demographic And Tailor Amenities And Services Accordingly
One of the crucial steps in creating a successful business plan for a beach resort is identifying the target demographic and customizing the amenities and services to meet their needs and preferences. By understanding the characteristics and preferences of your target market, you can ensure that your resort appeals to the right audience and maximizes customer satisfaction.
Start by conducting thorough market research to identify the key demographics that are most likely to be interested in your beach resort. This may include families, couples, solo travelers, or corporate groups. Consider factors such as age, income level, interests, and travel preferences.
- Research local tourism trends: Stay updated with the latest tourism trends in your area to determine the type of travelers that visit the beach region. Are there more families with young children or adventure-seeking millennials?
- Survey potential customers: Reach out to your target demographic through surveys or focus groups to gather insights about their preferences, expectations, and desired amenities. This will help you tailor your offerings to meet their specific needs.
- Study competitor offerings: Analyze the amenities and services of other beach resorts in the area to identify any gaps or opportunities for differentiation. Consider what sets your target demographic apart and how you can create unique experiences to cater to their preferences.
- Consider seasonal variations: If your beach resort operates in a location with distinct seasons, make sure to tailor your offerings accordingly. For example, if the target demographic includes families, offer kid-friendly activities and facilities during peak vacation periods.
Once you have gathered the necessary insights, use them to inform your decision-making when it comes to designing amenities and services. Consider aspects such as accommodations, dining options, recreational activities, and additional services that would resonate with your target market.
For example, if your research suggests that your target demographic consists of families, you may want to offer spacious family suites, children's play areas, and organized activities for kids. On the other hand, if your target market is predominantly young couples, you might focus on creating a romantic and intimate ambiance with amenities such as private terraces or couples' spa packages.
By determining the target demographic and tailoring amenities and services accordingly, you can position your beach resort as the ideal destination for your chosen market, ultimately driving customer satisfaction and business success.
Develop A Comprehensive Marketing Plan To Attract Customers
Developing a comprehensive marketing plan is crucial for a beach resort to attract customers and increase bookings. This plan should encompass various strategies and tactics to effectively reach the target market and promote the resort's unique selling points. Here are some key steps to consider:
- Identify your target market: Determine the specific demographics, preferences, and interests of your ideal customers. This will help you tailor your marketing efforts and messages to resonate with them.
- Create a compelling brand identity: Develop a strong and memorable brand identity that aligns with the resort's unique selling points. This includes designing a visually appealing logo, choosing consistent colors and fonts, and establishing a brand voice that reflects the resort's personality.
- Utilize digital marketing: Leverage the power of the internet to reach potential guests. Develop a user-friendly website that showcases the resort's amenities, accommodations, and scenic views. Optimize the website for search engines to increase online visibility. Create engaging content through blog posts, social media platforms, and email marketing campaigns.
- Implement targeted advertising: Use online advertising platforms, such as Google AdWords and social media ads, to target specific demographics, interests, and geographical locations. This allows you to reach potential customers who are more likely to be interested in a beach resort experience.
- Collaborate with local tourism organizations: Partner with local tourism organizations, travel agencies, and tour operators to promote the resort. Offer special packages or incentives to encourage these organizations to recommend and market the resort to their clients.
- Make the most of online travel platforms: Utilize online travel platforms, such as Expedia, Booking.com, and Airbnb, to showcase your resort's availability and attract online bookings. Regularly update listings with enticing descriptions, high-quality photos, and positive guest reviews.
- Offer special promotions and discounts during off-peak seasons to attract more guests.
- Engage with potential customers on social media platforms by posting captivating visuals and interacting with comments and inquiries.
- Collaborate with local influencers or travel bloggers to showcase the resort and gain exposure to their followers.
Identify The Necessary Permits, Licenses, And Legal Requirements For Opening A Beach Resort
When opening a beach resort, it is crucial to comply with all the necessary permits, licenses, and legal requirements. Failing to do so can result in penalties, fines, or even closure of your business. Here are some important considerations to keep in mind:
- Obtain a business license: Before starting operations, you will need to obtain a business license from the local government or municipality. This license is essential for running a legitimate resort and is typically obtained through the appropriate local regulatory agency.
- Secure zoning and land use permits: Ensure that the location you have chosen is zoned for commercial use and allows the operation of a beach resort. Contact the local zoning office or planning department to obtain the necessary permits and ensure compliance with regulations.
- Comply with health and safety regulations: Health and safety regulations are paramount in the hospitality industry. Consult with local health departments to understand the specific requirements for running a beach resort, including pool safety, food handling, emergency procedures, and more. Implement comprehensive safety protocols to ensure the well-being of your guests and staff.
- Apply for environmental permits: As a beach resort, you may need to obtain environmental permits to ensure compliance with regulations aimed at protecting coastal ecosystems. This can include permits related to beach access, shoreline protection, or impact assessments. Contact local environmental agencies or departments for guidance.
- Consider alcohol and liquor licensing: If you plan on serving alcohol at your resort's restaurants or bars, you will need to obtain the necessary alcohol and liquor licenses. Familiarize yourself with the local regulations and acquire the appropriate permits to legally serve alcoholic beverages.
- Review employment and labor laws: Familiarize yourself with the employment and labor laws specific to your location. This includes understanding minimum wage requirements, employee benefits, working hour restrictions, and other labor regulations. Ensure that you comply with all applicable laws to avoid legal issues down the line.
- Consult with a local attorney or legal advisor experienced in hospitality and resort businesses to ensure you have identified all necessary permits and licenses.
- Keep all permits and licenses up to date and ensure they are renewed as required by local regulations.
- Attend local government meetings or public hearings to stay informed about any changes or updates in regulations that may affect your beach resort business.
Create A Detailed Budget And Financial Projections
When starting a beach resort, it is crucial to have a clear understanding of the financial aspect of your business. Creating a detailed budget and financial projections will not only help you determine the startup costs and ongoing expenses, but it will also provide insights into the revenue potential of your resort.
1. Identify Your Startup Costs: Begin by listing all the expenses you will incur during the initial stages of setting up your beach resort. This includes acquiring the property, renovating or constructing buildings, purchasing furniture and equipment, obtaining licenses and permits, and marketing and advertising costs.
2. Estimate Ongoing Expenses: Calculate the ongoing expenses you will encounter on a regular basis, such as utilities, staff salaries and benefits, maintenance and repairs, property taxes, insurance, and marketing expenses. It is essential to factor in these expenses to get a comprehensive view of your resort's financial requirements.
3. Determine Revenue Streams: Outline the various revenue streams your beach resort will have, including room rentals, vacation rentals, on-site amenities like restaurants and spas, and any additional services you plan to offer. Research market rates and occupancy rates to estimate the potential revenue you can generate from each stream.
4. Create Financial Projections: Based on your startup costs, ongoing expenses, and revenue projections, create financial projections that cover a specific timeframe, typically the first three to five years. Consider different scenarios, such as low and high occupancy rates, to assess the financial sustainability of your resort under various circumstances.
- Consult with a financial advisor or accountant to ensure your budget and financial projections are accurate and realistic.
- Consider a contingency fund in your budget to account for unexpected expenses or fluctuations in the market.
- Keep track of your actual financial performance and compare it to your projections regularly. This will help you make adjustments and optimize your resort's financial strategy.
By creating a detailed budget and financial projections, you will have a solid foundation for managing your resort's finances effectively. It will also serve as a valuable tool when seeking funding from investors or financial institutions.
Develop A Staffing Plan And Outline The Necessary Roles And Responsibilities
In order to successfully operate a beach resort, it is crucial to develop a staffing plan that outlines the necessary roles and responsibilities of each team member. By clearly defining these roles, you can ensure that the resort runs smoothly and efficiently, providing excellent service to guests.
1. Management: The management team will be responsible for overseeing the day-to-day operations of the resort. This includes hiring and training staff, managing budgets, and ensuring guest satisfaction. Key management roles may include a resort manager, operations manager, and guest services manager.
2. Front Desk: The front desk staff will be the first point of contact for guests, handling check-ins, check-outs, and guest inquiries. They should possess excellent customer service skills and be knowledgeable about the resort's amenities and services.
3. Housekeeping: The housekeeping team plays a crucial role in maintaining the cleanliness and appearance of the resort's rooms and common areas. They will be responsible for cleaning rooms, changing linens, and ensuring a comfortable and inviting environment for guests.
4. Food and Beverage: If your beach resort includes a restaurant or bar, you will need a team to handle food preparation, serving, and bartending. This team should have the necessary culinary skills and knowledge of food and beverage service.
5. Maintenance: The maintenance team will be responsible for ensuring that the resort's facilities and equipment are well-maintained and in working order. They will handle repairs, perform routine maintenance tasks, and address any guest concerns related to the physical condition of the resort.
When developing your staffing plan, consider the peak and off-peak seasons of your beach resort. During busy times, you may need to hire additional staff to handle the increased guest volume. Provide ongoing training and development opportunities for your staff to enhance their skills and improve job satisfaction. Establish clear communication channels within your team and encourage open dialogue to foster a positive work environment. Consider outsourcing certain functions, such as security or landscaping, if it is more cost-effective or efficient for your resort.
By developing a thorough staffing plan and outlining the necessary roles and responsibilities, you can ensure that your beach resort has a capable and dedicated team in place. This will contribute to the success of your business and the satisfaction of your guests, ultimately leading to a profitable and enjoyable resort experience.
In conclusion, writing a business plan for a beach resort involves careful research, analysis, and planning. By following the 9 steps outlined in this checklist, entrepreneurs can create a solid blueprint for success. It is important to thoroughly understand the target market, competition, location, and financial feasibility of the business. Tailoring amenities and services to the target demographic, developing a comprehensive marketing plan, and ensuring compliance with legal requirements are also crucial steps. Moreover, creating a detailed budget, financial projections, and staffing plan will contribute to the overall success of the beach resort. By considering these factors and implementing a strategic approach, entrepreneurs can lay a solid foundation for a thriving beach resort.
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Resort Business Plan
Last updated on November 12th, 2023
How to Write a Resort Business Plan?
In order to write a Resort Business Plan you need to start with executive summary. In order to write an executive summary for a Resort Business Plan you need to mention- what your business is about and what you’ll sell. Explain how you’ll get people to buy it. The executive summary should be written at the end. Then you should write a Business Description mentioning goals, objectives, mission and vision. Some of the major sections or components of a Resort Business Plan involves Fund Usage Plan, Marketing Plan, Industry Analysis, Organizational Overview, Operational Overview and Financials.
This article will provide you a step by step process to write your Business Plan. Get a free Resort Business Plan at the end!
You can spend 3 to 4 weeks trying to write your own Business Plan by browsing through free online resources or hire a professional writer for $2,000. There is a better way to do this- Download our Resort Business Plan to write a plan in just 2 days .
Find out- Is Resort Business Profitable?
Overview: Greg Jill is the owner and operator of Heaven’s Resort. Greg has worked in a variety of top positions in resorts and hotels around the United States. He is well known for his excellent leadership and commercial skills. Greg has always wanted to create a dream destination for travelers, and he hopes to do so with his new enterprise by creating a world-class resort with exceptional customer service. His resort, with its high-end opulent amenities, will be every tourist’s ideal destination. Heaven’s Resort will be a dream resort in Santa Cruz, California, just 10 minutes from Mitchell’s Cove Beach. Tourists visiting Santa Cruz will be our primary consumers. We will provide them with a dream lodging and unmatched service. Within five years of opening, we want to be the best resort in Santa Cruz.
Mission: The goal of Heaven’s Resort is to deliver genuine hospitality. Every day, we make a difference in the lives of those we come into contact with. This is how we define hospitality.
To offer genuine and lavish hospitality. Our notion of hospitality is making a difference in the lives of individuals we come into contact with every day. We do so in an environment that values all people and ideas equally. We execute it quickly and effectively, resulting in exceptional results.
Vision: Heaven’s Resort’s vision is to become a prestigious and worldwide recognized resort brand. We create lifelong relationships with our guests by providing exceptional service and fulfilling their ultimate vacation dreams. We are concerned about and respect the environment.
The resort industry remains a thriving sector driven by the increasing demand for unique and immersive guest experiences within natural settings. This field continues to experience significant growth due to the pursuit of eco-friendly and nature-immersive getaways. Challenges include harmonizing luxurious comforts with environmental preservation while meeting evolving guest expectations. Opportunities arise in creating innovative eco-friendly services, immersive guest experiences, and environmental conservation efforts. Heaven’s Resort positions itself at the forefront of this industry, poised to address challenges and leverage growth opportunities by providing a distinct, nature-centric, and guest-immersive experience.
Founder : Jacob Harris
Legal Structure: LLC
Mission: “At [Resort Name], our mission is to provide a world-class vacation experience for our guests. We strive to create a luxurious and relaxing environment that allows guests to escape the stresses of everyday life and make lasting memories.”
Vision: “Our vision at [Resort Name] is to be the premier destination for travelers seeking the ultimate in relaxation, adventure, and luxury.”
- To increase its revenue in order to remain profitable and sustainable
- To provide a high-quality experience to its guests
- To build a positive brand image through various means, such as by offering top-notch customer service and promoting its unique offerings
- To minimize their environmental impact and support local communities through various initiatives.
[Mention your services in bullet points]
Fund Usage Plan
Key Metrics :
Business Model Canvas
My name is Jacob Harris, and I work in the hospitality and tourism industry as an entrepreneur. For as long as I can remember, I’ve been utterly drawn by the appeal of stunning vistas, excellent lodgings, and outstanding hospitality. I decided to start the adventure of developing my own resort because I wanted to be able to provide guests experiences that they would remember for the rest of their lives.
I have a profound admiration for the splendor of nature, and I have always had a strong desire to work in the hospitality industry. With these two interests in mind, I painstakingly planned the layout of a resort that provides guests with an ideal combination of ease, relaxation, and excitement. Our visitors will find that every aspect of their stay here, from the building’s design to the services and facilities offered, has been meticulously selected to create a haven of tranquility and luxury for them. My objective is to provide a sanctuary in which people may get away from the stresses of regular life, rekindle their connections with the natural world, and make memories that will last a lifetime.
As the owner of a resort business, I have made it my personal mission to provide visitors with service that is second to none and to go above and beyond their expectations. I have brought together a group of devoted experts who are committed to realizing my goal of establishing an atmosphere that is kind and inviting. We make it a point to go above and beyond in order to give every visitor the individualized attention they deserve, to create experiences that they will never forget, and to guarantee that they will go feeling refreshed and content.
The global resort industry, a key segment of the broader hospitality sector, has been steadily recovering post-pandemic, with a projected market size of around $1.5 trillion by 2025. This growth is driven by the increasing popularity of leisure travel and the demand for all-inclusive, high-end vacation experiences. In regions like the Caribbean and Southeast Asia, known for their picturesque landscapes and favorable climates, resorts are experiencing significant growth in occupancy rates and revenue per available room (RevPAR).
Resorts are increasingly focusing on offering unique and personalized experiences to differentiate themselves in a competitive market. This includes themed resorts, wellness retreats, and eco-friendly resorts that align with emerging consumer trends. The wellness tourism sector, in particular, has seen a surge, with a growing number of resorts incorporating health-focused amenities and programs. Additionally, eco-resorts are gaining traction, appealing to environmentally conscious travelers through sustainable practices and nature-centric experiences.
Technology integration and sustainable practices are becoming essential components of the modern resort business model. Many resorts are adopting advanced technologies for streamlined operations and enhanced guest experiences, like mobile check-ins, virtual concierge services, and personalized room controls. Sustainability is also a key focus, with resorts investing in renewable energy, waste reduction, and locally sourced food to minimize their environmental footprint. These trends indicate a shift towards more responsible and technologically advanced operations, promising a robust future for the resort industry.
Content Marketing : Create a blog on your Blackbird Acupuncture website on what you has to offer to prospective customers.
Discounts : Provide multiple rewards or incentives to Blackbird Acupuncture‘s frequent customers, you’ll be more likely to attract them. Create a member referral scheme, for example, where members get a discount if they successfully recommend someone.
Social Media: Engage and promote Blackbird Acupuncture on Twitter, publish news on Facebook, and utilize Instagram to promote curated photos of your clinic.
SEO (Search Engine Optimization) Local SEO makes it easier for local consumers to find out what you have to offer and creates trust with potential members seeking for what your clinic has to offer. Email Marketing: Blackbird Acupuncture will be sending automated in-product and website communications to reach out to consumers at the right time. Remember that if your client or target views your email to be really important, they are more likely to forward it or share it with others, so be sure to include social media share.
Write your resort business plan in 2 days
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Resort Business Plan Template
Written by Dave Lavinsky
Resort Business Plan
Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their resorts.
If you’re unfamiliar with creating a resort business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.
In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a resort business plan step-by-step so you can create your plan today.
Download our Ultimate Resort Business Plan Template here >
What Is a Business Plan?
A business plan provides a snapshot of your resort as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.
Why You Need a Business Plan
If you’re looking to start a resort or grow your existing resort company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your resort to improve your chances of success. Your resort business plan is a living document that should be updated annually as your company grows and changes.
Sources of Funding for Resort Businesses
With regards to funding, the main sources of funding for a resort are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for resort companies.
How to Write a Business Plan for a Resort Business
If you want to start a resort or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your resort business plan.
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your executive summary is to quickly engage the reader. Explain to them the kind of resort you are running and the status. For example, are you a startup, do you have a resort that you would like to grow, or are you operating a chain of resorts?
Next, provide an overview of each of the subsequent sections of your plan.
- Give a brief overview of the resort industry.
- Discuss the type of resort you are operating.
- Detail your direct competitors. Give an overview of your target customers.
- Provide a snapshot of your marketing strategy. Identify the key members of your team.
- Offer an overview of your financial plan.
In your company overview, you will detail the type of resort you are operating.
For example, you might specialize in one of the following types of resorts:
- Health Spa Resort : this type of resort provides individual spa services and helps visitors develop health habits.
- Ski Resort: this type of resort includes downhill, cross-country, or similar skiing areas with ski lifts and tows. These resorts often provide food and beverages, equipment rentals, and ski instruction, as well as accommodation.
- Eco-tourism Resort: this type of resort focuses on environmental sustainability, offering programs to minimize their eco footprint. Some eco-tourism resorts offer an immersive experience such as living among animals in a jungle.
- Destination Resort: this type of resort contains everything needed, such as accommodation, food service, attractions, shopping, etc.
- All-Inclusive Resort : this type of resort charges one fixed price that includes lodging, unlimited food, drink and sports activities, and entertainment.
In addition to explaining the type of resort you will operate, the company overview needs to provide background on the business.
Include answers to questions such as:
- When and why did you start the business?
- What milestones have you achieved to date? Milestones could include the number of overnight guests, the number of conventions hosted, reaching and/or maintaining X percent occupancy rate, etc.
- Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.
In your industry or market analysis, you need to provide an overview of the resort industry.
While this may seem unnecessary, it serves multiple purposes.
First, researching the resort industry educates you. It helps you understand the market in which you are operating.
Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.
The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section of your resort business plan:
- How big is the resort industry (in dollars)?
- Is the market declining or increasing?
- Who are the key competitors in the market?
- Who are the key suppliers in the market?
- What trends are affecting the industry?
- What is the industry’s growth forecast over the next 5 – 10 years?
- What is the relevant market size? That is, how big is the potential target market for your resort? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.
The customer analysis section of your resort business plan must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: domestic leisure travelers, international leisure travelers, business travelers, etc.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of resort you operate. Clearly, business travelers would respond to different marketing promotions than international leisure travelers, for example.
Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.
Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.
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Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other resorts.
Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes hotels, short-term rentals, or even relatives who live in the area. You need to mention such competition as well.
For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as
- What types of customers do they serve?
- What type of resort do they operate?
- What is their pricing (premium, low, etc.)?
- What are they good at?
- What are their weaknesses?
With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
- Will you provide extended stay options?
- Will you offer amenities or services that your competition doesn’t?
- Will you provide better customer service?
- Will you offer better pricing?
Think about ways you will outperform your competition and document them in this section of your plan.
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a resort business plan, your marketing strategy should include the following:
Product : In the product section, you should reiterate the type of resort company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide accommodation-only options, all-inclusive packages, accommodation/service packages, day visitor packages, etc.?
Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.
Place : Place refers to the site of your resort. Document where your resort is situated and mention how the site will impact your success. For example, is your resort located in a busy tourist town, near a tourist attraction, or is it a remote destination? Discuss how your site might be the ideal location for your customers.
Promotions : The final part of your resort marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:
- Advertise in local papers, radio stations and/or magazines
- Advertise in trade publications or on national TV
- Reach out to websites
- Distribute flyers
- Engage in email marketing
- Advertise on social media platforms
- Improve the SEO (search engine optimization) on your website for targeted keywords
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your resort, including answering calls, booking rooms and services, cleaning between guests, providing concierge services, customer service, etc.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth guest, or when you hope to reach $X in revenue. It could also be when you expect to expand your resort to a new city.
To demonstrate your resort’s potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally, you and/or your team members have direct experience in managing resorts. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a resort or successfully running a boutique hotel.
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.
An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you have 25 or 100 guest rooms? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your resort, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Cash Flow Statement
Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.
When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a resort:
- Cost of furnishing each guest room
- Cost of building out common areas and/or service facilities (spa treatment rooms, etc.)
- Payroll or salaries paid to staff
- Business insurance
- Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your resort blueprint or a list of amenities and services you offer.
Writing a business plan for your resort is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the resort industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful resort.
Resort Business Plan Template FAQs
What is the easiest way to complete my resort business plan.
Growthink's Ultimate Resort Business Plan Template allows you to quickly and easily write your resort business plan.
How Do You Start a Resort Business?
Starting a resort business is easy with these 14 steps:
- Choose the Name for Your Resort Business
- Create Your Resort Business Plan
- Choose the Legal Structure for Your Resort Business
- Secure Startup Funding for Your Resort Business (If Needed)
- Secure a Location for Your Business
- Register Your Resort Business with the IRS
- Open a Business Bank Account
- Get a Business Credit Card
- Get the Required Business Licenses and Permits
- Get Business Insurance for Your Resort Business
- Buy or Lease the Right Resort Business Equipment
- Develop Your Resort Business Marketing Materials
- Purchase and Setup the Software Needed to Run Your Resort Business
- Open for Business
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Other Helpful Business Plan Articles & Templates
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- Marketing Plan
One Page Pitch
Top 10 Resort Business Plan Templates with Examples and Samples (Editable Word Doc, Excel and PDF Included)
There is a deep need for that ideal escape, a haven of peace and renewal, in the hurry and bustle of our daily lives. It's the longing for that one special moment when time seems to stand still and troubles vanish like morning mist. Yes, we're referring to vacations, those valued breaks from daily life that have a mysterious way of mending our souls and reviving our spirits.
But, as any seasoned traveler will tell you, the success of a vacation often hinges on one crucial factor: the choice of the right resort. The perfect resort can transform a good trip into an unforgettable one, while the wrong one can cast a shadow over the sunniest of destinations.
And speaking of meticulous planning, if you're thinking about venturing into the world of resort business ownership, then you're in for an exhilarating journey—one that demands as much care, foresight, and dedication as planning the perfect vacation. It's here that the significance of a well-crafted business plan becomes paramount.
In this blog, we delve deep into why a business plan is your compass to success in the realm of resort ownership and how our well-researched business plan template with real data and insights can help you succeed in your venture.
Best Resort Business Plan Templates
Table of contents.
- Executive Summary
- Company Overview
- Industry Analysis
- Customer Analysis
- Competitor Analysis
- SWOT Analysis
- Porter's Framework
- Operational Plan
- Financial Plan
A resort business is a huge responsibility. One that requires proper planning and analysis. Through this detailed business plan template, we cover the major sections that must be included in your business plan. A total of 64 pages are available when you download this template. Each of these pages is thoughtfully curated to ensure that your best foot is put forward while presenting your business plan. We have made use of the best quality graphics and images so you get the much-needed professional look and feel. For the benefit of this blog, we have focused on the top 10 pages within this template.
Upon downloading, you will get the 64-page Doc, PDF, and XLS files.
1. executive summary.
Your resort's journey begins here, on the Executive Summary template page. This is where you'll articulate the dream that drives you, providing a glimpse of the oasis you're creating. Engage your readers with a captivating snapshot of your resort's unique charm, emphasizing its financial potential. As the resort's visionary, this template empowers you to communicate your passion and ambition persuasively.
In our Executive Summary section, you will get templates for
1.1 The Quick Pitch: Deliver a brief and captivating summary showcasing your resort business's core attractions and amenities.
1.2 The Entity Profile: Offer easily digestible details on your company's structure and profile, designed to pique the interest of potential backers and partners in your resort venture.
Download this business plan
(Do you plan on starting your own hotel industry business or already have one that requires funding or revamping? Why not check out our Hotel Industry Business Plan Template that covers all the relevant information in the most attractive way!)
2. Company Overview
In the Company Overview template, you can sculpt your resort's identity. Unfold the narrative of your resort's inception, its core values, and the enchanting experiences it promises to deliver. This page guides you in weaving a story that differentiates your resort and evokes an emotional connection with potential investors and partners.
In our Company Overview section, you will get templates for:
2.1 Vision and Mission: Craft a compelling mission and vision that drive your resort business forward, shaping its purpose and direction.
2.2 Company Goals and Objectives: Illuminate the precise goals and objectives your resort business endeavors to attain, guiding your path toward accomplishment.
2.3 Start-up Summary: Provide a concise overview of your resort's inception, highlighting its origins, structure, and foundational elements.
2.4 Market Gap Analysis and Business Statement: Pinpoint gaps in the resort market and articulate your unique business statement, establishing your brand as a distinct presence within the industry.
2.5 Services Portfolio: Showcase an extensive array of resort services, illustrating the breadth of your hospitality and tourism industry expertise and offerings.
2.6 Key Success Factors: Define the pivotal factors that will measure the efficacy and triumphs of your beach resort business plan , ensuring a well-defined route to prosperity.
3. Industry Analysis
Dive into the intricate details of the hotel industry with the Industry Analysis template page. Here, you'll dissect the trends, challenges, and opportunities that define this vibrant sector. Equip yourself with the knowledge to steer your resort toward success by understanding the competitive landscape, guest preferences, and emerging market forces.
In our Industry Analysis section, you will get templates for:
3.1 Market Analysis: Dive deep into the resort industry, assessing its current landscape, uncovering potential opportunities, and identifying key players to shape your resort's success.
3.2 Market Trends Tracking: Keep a vigilant eye on industry trends, ensuring your resort stays ahead of the curve and maximizes its appeal to modern travelers.
3.3 Major Challenges and Solutions: Confront and conquer major obstacles, crafting strategic solutions to pave the way for your resort's uninterrupted progress.
3.4 Growth Drivers Identification: Unearth the precise factors and initiatives that will fuel and amplify the growth and prosperity of your resort brand.
3.5 Geographical Market Analysis: Tailor your approach to cater to diverse geographical regions within your target market, guaranteeing seamless expansion and alignment with regional preferences and demands.
4. Customer Analysis
You'll get to know your future guests intimately on the Customer Analysis template page. Explore their demographics, behaviors, and desires, allowing you to tailor your resort's offerings to meet their expectations. This template empowers you to create a customer-centric approach, ensuring every visitor feels like a cherished guest.
In our Customer Analysis section, we offer comprehensive templates for:
4.1 Target Market Definition: Clearly define the specific consumer or business segments your catering service is poised to cater to.
4.2 Buyer Persona Development: Create a comprehensive profile of your ideal customer, offering deep insights into their demographics, preferences, and behaviors to enhance your understanding of their requirements.
4.3 Market Sizing Analysis: Calculate the overall catering market size and evaluate the potential market share for your catering brand, providing valuable insights into the scope of opportunities within your business environment.
5. Competitive Landscape
A competitive landscape is your secret weapon for understanding the strengths and weaknesses of major players in the resort industry . Identify areas in the market and refine your strategies to outshine the competition with the perfect vacation packages . With this template, you'll be equipped to offer unique services and experiences that set your resort on a path to success.
In our Competitive Landscape section, we provide templates for:
5.1 Major Players: Explore the landscape of your catering service sector by identifying and analyzing the prominent competitors and key industry players.
5.2 Attributes Comparison: Conduct a comprehensive analysis comparing the essential attributes and features of various catering products or services available to position our offerings strategically.
6. SWOT Analysis
Conduct a thorough SWOT Analysis using this template to uncover your resort's strengths, weaknesses, opportunities, and threats. This invaluable exercise helps you make informed decisions, capitalize on your advantages, and mitigate potential pitfalls. It's your roadmap for sustainable growth and resilience.
7. Porters Framework
The Porter's Framework template page is your gateway to strategic planning. Delve into the competitive forces in the resort industry, pinpointing areas where you can gain a competitive advantage. Use this template to craft a robust business strategy that ensures your resort thrives in all conditions.
8. Marketing Plan
You'll design a tailored roadmap for attracting guests in the Marketing Plan template page. Develop marketing resort business growth strategies , define your unique selling propositions, and outline promotional tactics to create buzz and allure around your resort.
In our Marketing Plan section, we provide templates for:
8.1 Sales Strategy: Craft a comprehensive plan to achieve your sales goals and objectives within the catering business.
8.2 Promotional Strategy: Clearly define your marketing and promotional strategies to create buzz and brand awareness for your catering venture.
8.3 Pricing Strategy: Detail your pricing approach to strike the perfect balance between profitability and competitiveness in the catering market.
8.4 Sales Funnel Optimization: Map out the customer buying journey, from initial awareness to the final purchase, to streamline and enhance the sales process for your catering products.
9. Operational Plan
The Operational Plan template page allows you to detail the logistics behind running your resort efficiently. Outline staffing requirements, supply chains, and processes to ensure every aspect of your resort functions seamlessly. This template paves the way for exceptional guest experiences.
In our Operational Plan section, we provide templates for:
9.1 Retail Selling Strategy: Map out your all-encompassing strategy for retail catering product sales, shedding light on your sales approach and tactical maneuvers.
9.2 E-commerce Sales Strategy: Navigate the digital commerce landscape with a detailed strategy, including budget allocation and a roadmap for online marketplace success.
9.3 Milestones and Achievements: Illuminate the pivotal operational milestones and noteworthy accomplishments that define your resort business journey, offering a snapshot of your progress and growth.
10. Financial Plan
Lastly, the Financial Plan template page is your key to financial success. Lay out your resort's financial projections, budgets, and funding requirements precisely. Use this template to reassure investors and stakeholders of your resort's long-term viability and profitability.
In our Financial Plan section, we provide templates for:
10.1 Financial Assumptions: Transform your financial assumptions into actionable strategies, shaping the future of your resort venture.
10.2 Revenue Model and Sales Forecast: Shed light on the sources of revenue for your resort business and craft a comprehensive blueprint for its growth.
10.3 Break-Even Analysis: Dive into the pivotal factors steering your resort toward the break-even point, a critical milestone on your path to profitability.
10.4 Projected Profit and Loss Account: Get a clear financial snapshot of your resort's potential by projecting revenues, tracking expenses, and foreseeing overall profitability.
10.5 Projected Cash Flow Statement: Master your resort's liquid finances with a detailed projection of expected cash movements.
10.6 Projected Balance Sheet: Provide an in-depth glimpse into your resort's projected assets, liabilities, and shareholders' equity, ensuring financial transparency.
10.7 Scenario Analysis: Explore various scenarios to gauge how different conditions and risks may impact the financial resilience of your resort venture.
10.8 DCF Valuation: Utilize discounted cash flow analysis to assess the present market value of your resort business, quantifying its worth in the industry.
This is not the end!
A resort business requires a lot of pre-planning and strategizing; in such a situation having your base ready makes your job much easier. That base is provided to you through this business template plan. Simply download the business plan ppt templates and edit all relevant information according to your brand requirements. The template is also available in an easy-to-use format so you can edit faster. What’s more to think, go ahead and grab your template! Create lasting vacations for your consumers, starting today!
FAQs on Resort Business Plan
1) what is a resort business plan.
A resort business plan documents a resort business's goals, vision, and strategies. It has the following sections:
- An executive summary and a brief business plan overview. It highlights the main objectives and points.
- The business overview describes the resort, target market, location, competitive advantages, and legal structure.
- The market analysis section includes research on the industry, customers, and competitors. It also identifies the challenges and opportunities for the resort.
- The last section is resort services and facilities, which list amenities, features, and activities offered to guests by the resort.
2) How do I start planning a resort?
The different steps involved in planning a resort are:
- Develop a business plan outlining your goals, visions, target market, and market strategy.
- A financial model will be required to project the income, cash flow, and expenses.
- The next step would be securing funding from banks, investors, and other sources.
- You will need to research and apply for the necessary permits and licenses.
- Choose a location per your budget and requirements.
- Prepare a customer profile describing your customers and their preferences.
- You should also have a marketing strategy to promote and advertise your resort.
- Get hold of engineers, architects, and contractors to build your resort.
3) Is resort a profitable business?
Whether the resort will be profitable or not depends on several factors. These factors are location, market demand, and hotel management . Resorts in popular tourist destinations are more profitable because those areas are in demand. However, a resort can face challenges if located in a remote location. Cost control, effective management, and good customer service are important for a resort to be profitable. Seasonal fluctuations can also impact profitability. In a resort, amenities like restaurants, pools, and spas attract customers and increase profits. The income should be diversified through weddings, conferences, etc., to get more profit. A well-run resort is always profitable, but market consideration also affects the profits.
4) What is a resort business called?
A resort business is commonly known as a resort. It is a type of business that fulfills the guests' needs or tries to look after the needs of the vacationers inside the premises. A resort has several amenities like swimming pools, sports, shopping, food, drinks, and entertainment with lodging. There are different models of resort business. These include destination resorts, market resorts, and property resorts. The different types of resorts are decided depending on their size, location, and amenities offered to the guests.
5) How much land is needed to build a resort?
The amount of land needed for a resort depends on several factors: the scale of the resort, its location, and the facilities and amenities the resort plans to offer. Smaller resorts may need a few acres, while on the other hand, bigger resorts may require hundreds of acres. Island or coastal resorts need beachfront property, while mountain or forest resorts need a large expanse of land for hiking and outdoor activities. The resort will need lots of land if it has golf courses, spas, and other extensive amenities. Ultimately, the land requirement will completely depend on the resort's requirements, concepts, and target market.
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How to write the business plan for a resort
Are you looking to start a resort business or expand and improve an existing one?
If so, writing a comprehensive plan is essential for success. A well-crafted business plan can help secure financing from investors, outline strategies for growth, and increase profitability.
In this in-depth guide, we’ll walk you through the key steps to writing a successful business plan for your resort. We’ll cover why it's important to create one in the first place, what information should be included, what tools can be used to craft your document and more.
So if you're ready to create your unique blueprint for success - let's dive in!
On the itinerary:
Why write a business plan for a resort?
Information needed to create a business plan for a resort, how do i build a financial forecast for a resort, the written part of a resort business plan, what tool should i use to write my resort business plan, business plan template of a hotel resort.
There are several reasons to write a resort business plan. Below, we cover some of the most important ones!
To draw up a roadmap
Creating a business plan for a resort is an important step in the success of any hospitality venture.
It helps entrepreneurs to set tangible objectives and goals that they can strive to achieve over the next three to five years.
This process is especially beneficial for existing resorts which are already established, as it allows them to re-evaluate their current strategies and develop new plans for growth.
To compare financial performance
A carefully crafted business plan also provides you with an accurate financial forecast in which you can compare your progress regularly.
This is key to ensuring your resort remains a viable and profitable business with enough capital to sustain its operations.
To secure financing from investors and banks
Writing a business plan for a resort is also essential if you are looking to secure financing from a bank or an investor.
Both banks and equity investors will be taking a close look at your business plan before deciding whether or not to invest in your resort, as they want to make sure that they won't lose money if they decide to finance your business.
Therefore, the plan must demonstrate healthy growth and profitability for the investor and your financial projections should be based on market research to ensure their accuracy.
Now that you know why it’s important to create a business plan for a resort, let's look at the information needed to create one.
Create your resort business plan online!
Think your resort could be profitable? Find out how with a business plan!
Writing a resort business plan requires research so that you can project sales, investments and cost accurately in your financial forecast.
In this section, we cover three key pieces of information you should gather before drafting your plan!
Carrying out market research for a resort
Before writing a business plan for a resort, it is important to carry out market research. This kind of research helps in predicting the future revenue of the resort and making sure that all necessary elements are accounted for.
In particular, carrying out market research enables you to understand what customers want from your resort and how much they are willing to pay for it.
It also allows you to assess the competitive landscape and identify potential opportunities or threats posed by other resorts in the area.
Furthermore, conducting market research can give you insight into current trends in tourism which will help inform your decisions about pricing and amenities offered at your resort.
All this information gathered through market research is essential when attempting to forecast revenues accurately.
Developing the marketing plan for a resort
Creating a marketing plan for a resort is an essential step in the development of a business plan as it enables accurate budgeting of sales and marketing spending.
The plan should detail the costs associated with all forms of marketing, such as print advertising, digital campaigns, PR efforts, etc., and should include an evaluation of existing market trends and competitor behaviour.
Doing so helps allocate resources efficiently to specific marketing activities.
The budget should then be incorporated into the overall financial forecast of your business plan.
The staffing and equipment needs of a resort
Before writing a comprehensive resort business plan, it is important to take the time to determine the magnitude of investment and recruitment required for the project.
This includes analyzing the budget, mapping out estimated costs for personnel, materials, and services, and making sure that all financial projections are realistic.
Additionally, funds will need to be allocated for the resort setup and other capital expenses.
Taking these factors into account will help you create a realistic financial forecast and set your resort up for long-term success.
Once you have the information needed to create a business plan for a resort, the next step is to develop a financial forecast.
A resort financial forecast includes an income (or profit and loss) statement, a balance sheet, a cash flow forecast, and sources and uses table.
Let's take a look at these in more detail!
The projected P&L statement
A projected P&L statement for a resort is a document that helps you see how much revenue and profit the business could make in the future.
It can also help show how much the resort will grow (between years 2 and 3 for example). This information is important to know when planning for the future of the resort.
The projected balance sheet of your resort
A balance sheet is a financial statement that details the assets, liabilities, and equity of the resort at a specific time.
Assets represent the value of what the resort owns, such as cash on hand, accounts receivable, inventory, buildings and equipment.
Liabilities indicate how much money the resort owes at any given time.
Equity is a measure of the value created for the shareholders of the resort.
The purpose of a balance sheet is to provide an assessment of the resort’s solvability and liquidity.
This assessment is important for lenders, investors, or business owners to understand the resort’s financial standing.
Lenders and investors can use these insights to decide whether or not they should loan money or invest their resources in the business.
Business owners can also make better internal decisions by knowing this data.
The projected cash flow statement
A projected cash flow statement helps you plan your resort's finances by detailing the volume and timing of cash inflows and outflows.
This is important because it helps you plan your budget and make sure you have enough money to pay your bills and run the business smoothly.
A projected cash flow statement can also help you figure out if there are ways to save money or make more profit so that the resort can stay successful.
The initial financing plan
An initial financing plan (also called sources and uses table) is a plan that helps you figure out how you will pay for setting up a resort.
It tells you what money is coming in (the sources) and what money is going out (the uses).
The written part of a resort business plan usually consists of 7 comprehensive sections.
From crafting an executive summary to presenting your financials, let's have a look at each of the key sections that compose a business plan.
1. The executive summary
An executive summary should provide a comprehensive overview of the business and market opportunity, focusing on key financials, competitive landscape, and expected returns.
The document should provide readers with a clear understanding of the resort's objectives and goals, as well as how they will be achieved.
It should include an analysis of the overall market and the current competition, an outline of the resort's plans for operations and profitability, and an evaluation of the financial stakeholders involved.
It should also include the business' expected level of revenues, profitability and the value of the loan or capital injection sought from banks or investors.
When crafting the executive summary, it is important to keep in mind the ultimate goal of gaining investor confidence and trust.
2. The presentation of the company
When writing the presentation of a company in a resort's business plan, it is important to focus on the following parts: structure and ownership, location and the management team.
The structure and ownership of the company should be outlined in detail - state whether the company is a partnership, sole trader or limited liability company. If it is a partnership or limited liability company, detail the percentage of the resort owned by each partner.
This will help investors understand the legal protection in place and how ownership is distributed across any owners.
The location of the resort also is outlined, with details on why this particular area was chosen.
Potential lenders or investors need to know that the business is set up in an advantageous position - such as access to transportation, local infrastructure, and any other amenities the resort might offer.
Finally, the management team should be identified in detail, with information on each member's experience and qualifications to manage a successful vacation destination.
This is important for potential investors as they want to be sure that the team running the business has what it takes to make it profitable.
3. The products and services section
When writing the products and services section of a resort business plan, it is important to provide an overview of what will be offered at the resort.
This should give detailed descriptions of all amenities that guests can expect to enjoy during their stays, such as fitness centres, spas, recreational activities (beach activities such as boat trips), dining options at the hotel and more.
Additionally, the plan should outline any special services or events that are available on-site or in nearby areas. It is also important to mention any unique features that set this resort apart from other similar establishments in the area.
By providing a comprehensive description of what potential customers can expect when they visit your resort, you will be able to attract more visitors and create greater loyalty among existing guests.
4. The market analysis
When writing the market research section, you should include key demographic and segmentation data.
This will help demonstrate to investors or lenders that you have thoroughly assessed the target market, competition, barriers to entry, and any applicable regulations.
It is essential to provide an overview of the size and makeup of the customer base for your resort as well as how this population can be divided into segments based on factors such as age group, income level and interests.
Additionally, it is important to highlight any potential shifts in these demographics over time so that investors or lenders can better understand how changes in consumer preferences may affect future operations.
The analysis should also give information about the competition, barriers at entry and applicable regulations.
This will provide investors or lenders with a clear understanding of how competitive the market is for your resort and any unique factors that may influence success.
Additionally, it is important to note any relevant laws or up-and-coming regulations that could affect operations.
5. The strategy section
The strategy section of a resort business plan should outline the pricing, marketing plan, milestones and risks associated with running the business.
It is important to provide an overview of how each element will be implemented to achieve success.
For example, the pricing strategy should include projected prices for different services (wellness, concierge, entertainment) and packages that can be offered at the resort.
The marketing plan needs to detail how customers will be informed about these offerings and any special promotions or discounts that are available.
Additionally, milestones need to be set so that progress can be tracked over time.
Finally, it is essential to identify potential risks and discuss methods of mitigating them to ensure long-term success for the business venture.
6. The operations section
The operations of a resort business plan must be presented in detail. The staffing team, their roles and the overall recruitment plan must all be outlined. You should also include the qualifications and experience necessary to fulfil each role.
State what hours your resort will be open and any plans for varying opening times during peak season. Additionally, the plan should include details on how you will handle customer queries outside of normal operating hours.
If you have any software licenses, physical structures (equipment or property) or lease agreements, these should all go in the key assets and IP section.
Finally, the business plan should include a list of suppliers that the resort plans to work with and a breakdown of their services and pricing structure. Investors would like to know if there is a reason you have chosen to work with a specific supplier (higher-quality products or past relationship for example).
7. The presentation of the financial plan
This is where you will present the financial forecast that we talked about earlier in this guide.
Now that you have a better understanding of what should be included in the content of your resort business plan, it’s time to look at the tools that can help you create one.
In this section, we will review three solutions for creating a resort business plan: using Word and Excel, hiring a consultant, or using online business plan software.
Each option has its own advantages and drawbacks, so it's important to consider your needs before deciding which is best for you. Let's take a closer look at each of these solutions.
Create your resort's business plan using Word or Excel
Creating a resort plan using either Word or Excel comes with both pros and cons. On the plus side, using Word and Excel is a cost-efficient solution.
However, creating financial forecasts with Excel may be difficult for those without an accounting background, and financiers may not accept them as accurate.
Furthermore, while it is possible to create a financial forecast in Excel, doing so takes a long time and requires frequent updates.
Finally, while Word is relatively easy to use and format, it is still easier to have a finished business plan than start from scratch.
Hire a consultant to write your resort's business plan
Outsourcing a resort business plan to a consultant or accountant can be a beneficial option for entrepreneurs looking to present their plans to investors or banks.
Consultants are experienced in writing business plans and accountants are adept at creating financial forecasts without errors.
This means that business owners can trust the quality of the document will be professional and accurate.
However, there are some drawbacks to outsourcing the business plan. Accountants may not be familiar with industry trends and thus could create inaccurate estimates of future sales.
Furthermore, hiring a consultant or accountant for this purpose will be pricey and may incur additional expenses if changes or modifications need to be made along the way.
Additionally, the business owner may have less control over the final product compared to if they had written it themselves.
Use online business plan software for your resort's business plan
Another alternative is to use online business plan software. There are several advantages to doing so:
- You are guided through the writing process by detailed instructions and examples for each part of the plan
- You can be inspired by already-written business plan templates and examples
- You can easily make your financial forecast by letting the software take care of the financial calculations for you
- You get a professional document, formatted and ready to be sent to your bank or investors.
- You can easily update your financial forecast and track it against actual financial performance to see where the business stands
If you're interested in using this type of solution, you can try our software for free by signing up here.
A business plan template will give you a better understanding of how to frame your own business plan, as well as what investors are looking for.
Our hotel resort business plan template will be off great help to you!
We hope that this article has helped you to better understand how to write the business plan for your resort. Do not hesitate to contact us if you still have questions!
Also on The Business Plan Shop
- How to carry out market research for a hotel
- How to write a stellar business plan for a hotel
- Our top 6 tips for optimizing your campsite's profitability
Know someone in the resort industry? Share this article with them!
Founder & CEO at The Business Plan Shop Ltd
Guillaume Le Brouster is a seasoned entrepreneur and financier.
Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.
Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.
Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.
Published on 20 Jan 2023 , last update on 05 Jul 2023 , as per our editorial standards .
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- Business Plans Handbook
- Business Plans - Volume 07
- Hotel Resort Business Plan
BUSINESS PLAN SEVEN ELMS RESORT
65000 Windy Lane Dr. Traverse City, Michigan 49865
The Seven Elms Resort outlines how it will provide quality hospitality services, cost-effectively, in a popular northern U.S. lake resort environment. This plan successfully raised capital for property acquisition, renovation, and company start-up related costs.
Company summary, hotel & lounge overview, market analysis, competitive environment, strategy & implementation, promotion strategy, financial plan.
We seek funds for the acquisition and renovation of Seven Elms Resort, an adult-marketed, 17-room "boutique style" hotel specializing in a couples' "getaway" to provide relaxation and recreation in Benzie County, a popular tourism spot located next to the state of Michigan's Lake Michigan. Moderately priced between the high-line hotel properties and the older motel strips, Seven Elms Resort shall fill an affordability niche not presently available in Benzie County.
Combined with an on-site lounge, grill, poolside beverage service, and morning continental breakfast bar, we are seeking investment funds to renovate the hotel building, build-out a piano bar/lounge area with dance floor, and construct an outdoor pool adjacent to the indoor pool. With this refurbishment and other new amenities, Seven Elms Resort will form the basis of a highly profitable hotel venture. We are seeking funds to develop and expand the business in a phased approach, as highlighted within this document.
Seven Elms Resort's owner, Steve M. Blackburn, has an extensive business background, including over 14 years of experience developing a variety of businesses. Mr. Blackburn received his B.A. in Business Economics, and currently is an M.B.A. candidate at the University of Michigan. Desiring to return to his own business, he wishes to establish Seven Elms Resort, Inc. in 1999.
The foundation for the plan is a combination of primary and secondary research, upon which the marketing strategies are built. Discussions and interviews were held with a variety of individuals involved with other similar businesses to develop the proforma data, review the market potential, and competitive situation.
Renovation in the Prairie Style period, our hotel's design elements and furniture will reflect this "organic" approach and provide an overall comfortable experience. Seven Elms Resort shall specialize in meeting an individual or couple's needs. As growth warrants, the 10-acre site would allow for future expansion of the lodging portion of the resort (Phase II).
Business Plan Purpose
In today's highly competitive environment, formal business planning is an essential element in achieving business success. A well-written business plan is primarily a communication tool used to obtain financing. In certain instances, particularly with our early stage company, this business plan also serves as a strategic plan.
Considering that lenders are inundated by numerous investment opportunities from which they choose only a few, this business plan describes our story and how we intend to grow. Seven Elms Resort, Inc. management team has made an in-depth analysis of its opportunities and weaknesses and it has concluded that the company has an excellent chance to succeed.
Methodology for Business Planning
Sophisticated business planning helps management answer questions, such as: What will be our record of achievement? How have we fared compared to our competitors? Are we setting realistic and attainable goals and objectives?
Constructive and useful business planning requires a broad-based understanding of changes taking place in the marketplace in which the company competes, or plans to compete, and the ever-changing financial markets. In-depth technical skills in a variety of disciplines such as financial analysis, sales and marketing, latest technology, and managing growth are critical components in assessing a company's opportunities and risks.
Developing the Business Plan
The management of Seven Elms Resort, Inc. has developed this disciplined planning methodology to help the company anticipate its start-up costs and other critical information to arrive at this realistic plan.
Guidance from Outside Professionals
Mr. Blackburn has sought legal assistance and advisors to develop the Seven Elms Resort concept. Steve will maintain an active management involvement in every aspect of daily resort operations. This plan reflects his vision.
Five Objectives of Seven Elms Resort, Inc.
- Attract $1.4 million mortgage/investment capital;
- Focus ideas and establish goals;
- Identify and quantify objectives;
- Track and direct growth;
- Create benchmarks for measuring success.
The business of Seven Elms Resort, Inc. is the creation of and funding of an adult couples' 17-room hotel, specializing in a "getaway" atmosphere to provide relaxation and recreation in the Greater Benzie County/Lake Michigan area. Management is soliciting commercial finance partners who share its vision and desire to participate in this exciting business opportunity in the resort community of Benzie County, Michigan. The integration of these disciplines results in extensive and innovative services, set in a unique Prairie Style surrounding for our prospective guests.
Ideal Property Location
The preferred location is a 10-acre parcel with 8 acres of woods. Of the 18 rooms, 3 are executive suites, with Jacuzzi tubs, and one of them will be converted to an onsite manager's apartment. Each room has individual climate control, direct-dial phones, and televisions. The facility has a large main lobby area, indoor pool/Jacuzzi/sauna, lighted tennis court, 2-car garage, storage shed, ample parking, and all equipment necessary for operation of the motel. The separate onsite manager residence and meeting room complex will serve as a future lounge/grill space. The grounds are beautifully landscaped.
The motel is located in the motel district of Benzie County and is situated on 9.43 beautifully landscaped, wooded acres. Approximately 7 of the 9.43 acres are wooded and undeveloped, which creates an opportunity for significant expansion or potential for an entirely new enterprise.
This facility consists of one building, built in two phases: a 22- and 15-year-old two- and one- story wood frame 18-unit motel and manager's/owner's apartment, which when combined, total approximately 14,787 square feet of living area. The 18-unit motel includes a lobby with a fireplace, reception area, storage area, laundry room, bathroom, meeting rooms, a balcony, 18 room units, a men's and women's bathroom, kitchen, a whirlpool/sauna room, an indoor swimming pool, and mechanical room. The motel has a partial basement and includes a laundry room with two washers and two dryers.
The manager's apartment (future piano bar and basement bar/meeting room area) offers a living room, kitchen, dining area, family room, half bath, and gift shop on the first floor with 3 bedrooms and 2 baths on the second floor. The home has a concrete block basement that is partially finished with a recreation room and a 3/4 bathroom.
The exterior is cedar and the roof is pitch and pebble. The building is seated on a poured concrete and a concrete block foundation. Interior walls are concrete block and drywall. The flooring is carpet and ceramic tile. There are casement windows and wood storms and screens. There is a basement area under the living quarters and a portion of the motel.
Other improvements include a 2-car garage with 2 electric door openers. A detached storage shed is located to the rear of the manager's apartment. Land improvements include a blacktop driveway and parking lot with 23 parking spaces, concrete sidewalks, a lighted tennis court, street signage, and beautiful landscaping with a mature variety of trees and shrubs.
Mechanical systems include five gas hydropic, two gas forced air furnaces, electric baseboard heat, individual heat, and central air for each unit; 120-gallon hot water heater, 600-amp electrical service, intercom system, two central vacs, water softener, sump pump, 4-camera security system, cable television, smoke alarms, and telephone system.
Seven Elms Resort, Inc.'s mission is to provide quality hospitality services to our guests in a comprehensive and cost competitive manner, providing the finest accommodations in Benzie County, Michigan.
Company Business Plan Objective
This business plan serves to detail the direction, vision, and planning to achieve our goal for providing superior and comprehensive hotel and lounge services. Our plan objectives are:
- Attract $200,000 bridge loan to secure $1.4 M property mortgage
- Focus ideas and establish goals
- Identify and quantify long-term expansion
- Track and direct growth
- Create benchmarks for measuring success
Seven Elms Resort shall fill a niche not presently available, namely a moderately priced (under $130 per night, summer rate) resort. Combined with an on-site lounge, a grilled food service, an indoor and outdoor pool bar, and a morning continental breakfast offering, we shall differentiate ourselves by becoming a "boutique style" resort versus simply another motel. With the construction of an outdoor pool adjacent to the present indoor pool/whirlpool/sauna complex and our other refurbishment and new amenities, Seven Elms Resort will form the basis of a highly profitable venture set in a Prairie Style environment.
Mr. Steve Blackburn founded Seven Elms Resort, Inc. hotel and lounge in 1998 as a Michigan Subchapter "S" Corporation. Since 1985, Steve has had extensive experience in creating and managing organizations for environmental and economic development-oriented companies involved in nationwide projects.
Steve consults with area businesses in development-related issues, including finance, and is a United States SBA counselor at the Small Business Development Center at the University of Michigan. Past SBA clients include service and manufacturing organizations. He is a certified SBA Fast Track program instructor, a Michigan licensed loan solicitor, with a specialty in commercial finance, and a guest lecturer at U-M for Business Plan Writing Workshops. He has started previous business and corporate subsidiaries and looks forward to managing Seven Elms Resort on a daily basis.
Currently, Steve is an M.B.A. candidate at U-M and holds a Bachelor of Arts degree in Business Economics with a minor in chemistry from Notre Dame University.
Key Advisors to the Company
Seven Elms Resort, Inc. has additional key staff members and advisors to assist during the development, planning, and initial planning phases. They include an architect trained at the University of Notre Dame, CPAs, and former managers of bar and Bed and Breakfast style properties.
Management & Organizational Summary
Mr. Steve Blackburn will manage all aspects of the business and service development to ensure effective customer responsiveness. Qualified resort associate professionals will provide additional support services. Support staff will be added as guest and/or patron load factors mandate. Blackburn has joined the American Hotel and Motel Association.
Corporate Development Plan
For purposes of this Business Plan document, Seven Elms Resort, Inc.—Phase I and Phase II for developmental growth are defined below:
This phase involves preparation and development of Seven Elms Resort. Until the ideal property is acquired, Seven Elms Resort, Inc. offices will be housed at the home of Mr. Steve Blackburn, its founder. The property will establish its own Prairie Style identity, management directives, and capital. Incorporating a total quality management approach and a guest appreciation program, Seven Elms Resort will develop key repeat guests and lounge patrons. Through word of mouth and advertising, our reputation as an affordable "boutique style" resort shall grow.
Property renovation will include the makeover of 18 to 17 rooms (with 3 suites) and the conversion of the present onsite property manager's house to lounge gathering space. New construction includes a bar room addition, extra parking lot build-out, and an outdoor pool. [Phase I capital (start-up) funds are documented later on in this business plan.] It is anticipated that the funding and transfer of this property will happen in spring 1999. Operation "as is" of the facility would continue through the summer and fall. The hotel will close for the winter months for its build-out and renovation.
Continue implementation of sales, advertising, and marketing strategies developed in Phase I. Identify and pursue additional guest markets, i.e. Internet room guarantee services. Seven Elms Resort shall evaluate its room occupancy position to determine if a facility expansion is warranted. Seven Elms Resort anticipates additional support staff would be needed at the proper time (Phase II). This Plan does not contain funding needs for this Phase.
Establishing a hotel and lounge business clientele will take some time, as the research revealed word-of-mouth /recommendations /referrals and value as the primary way in which hotel and lounge services are selected by new guests. People who are completely new to the area, or who have few established connections, may look to the Yellow Pages or other advertising to establish available services, then call for information or pricing.
A good portion of the past guests to the property will no longer return, as the present ownership has operated the property as a Christian retreat-style motel.
Strengths of Seven Elms Resort, Inc. include Steve Blackburn's broad base of experience in managing different types of companies. He has extensive development experience and a track record of hiring the right people and training them. Blackburn understands the service sector business, has traveled extensively frequenting numerous lodging establishments, and has gained invaluable experience in organizational management.
Currently, a mid-size "boutique" resort niche is vacant in the Lake Michigan market, with present lodging on the high end, averaging $225 per night (and up) down to older motel properties of $79 per night. Several B&B establishments may fall into the middle, however, Seven Elms, as a resort-style property, will serve its niche by itself.
Industry Keys to Success
- A property designed for the guest and/or lounge patron
- Frequent Guest Award Program
- Controlled overhead and operational costs
- Regular and ongoing guest feedback
- Latest technology/software capacity
- Weekend lounge (piano bar, dance floor) entertainment
- Unique, timeless and comfortable environment
- Dedicated management and associate support staff
Seven Elms Resort, Inc. like all businesses, is affected by forces and trends in the market environment. These include economic, geographical, competitive, legal/political, and technical.
Positive forces include the generally prosperous economy that is currently in place, full employment, rising wages, and low inflation, leading more people to be able and willing to spend money and to get away for some time. The close locality of Lake Michigan offers an affordable alternative to a flyaway destination.
Located just two blocks from Lake Michigan and downtown Lakegrove, the area has several golf courses, two ski hills, water recreation activities, numerous dining establishments, various retail and specialty shops, art galleries, theatre entertainment venues, and the beauty and serenity of Lake Michigan, which has made this county a famous Midwest tourist destination. Traverse City began to prosper in the 1870s, becoming a desirable resort area. Many homes and estates date back to this era and several enormous "summer cottages" were built on the lakeshore and are still in evidence today.
Seven Elms Resort shall fill a niche not presently available, namely a moderately priced (under $130 per night), resort-type establishment. Combined with an on-site lounge, a grilled food service, an indoor and outdoor pool bar, and a morning continental breakfast offering, we shall differentiate ourselves by becoming a "boutique style" resort versus simply another motel.
Our Prairie Style surroundings will attract and retain guests who appreciate such refined environments.
Seven Elms Resort management will not move the project forward until it has obtained an option to acquire one of the 19 Benzie County, Michigan, liquor licenses. As faced by all businesses, the proper insurance needs shall be met and all operations and policy manuals shall be reviewed by appropriate legal experts. The facility will obtain all the necessary building permits prior to construction. Present facility zoning allows for this proposed use, including a bar, cabaret, grill, and dance floor space.
Computer programs greatly simplify the financial recordkeeping for today's businesses. As a small business, Seven Elms Resort will need to watch its expenses closely. By utilizing the existing software packages available in the hotel industry, including: room and facility management database, controlled bar and inventory measuring systems, and room key cards that allow patrons to charge directly to their room account, this technology shall assist management in controlling costs, reducing cash management, and maximizing revenue. Seven Elms Resort shall attract the resources necessary to train and operate the system in order to generate the reports and manage the inventory.
A listing of the hotel and motel properties in Benzie County, Michigan (sourced through Midwest and the Ameritech Directories) is as follows. (Note: Other properties on Lake Michigan, but outside the city limits, are not included):
High Line ($139-$750 per night, depending upon season) The Cove of Lake Michigan ($145-$225) Grand Michigan Resort and Spa ($139-$750) The Harbor's Edge ($139-$199) The Michigan Inn ($215-$350) The Strike Hotel ($200) Motel ($59-$119 per night, depending upon season) Breezy Chateau Inn Budget Time Motel Lake Michigan Motel Lakewood Motel Misty Motel Pine Tar Motel Plaza Motel Shady Drive Motel The Stirrup Motel Swiss Motel Bed & Breakfast (B&B) Dahlia House The Mixer House Precious Times Inn
Hotel and motel properties in adjacent communities are not listed, however, they do advertise in the Yellow Pages.
Seven Elms Resort hotel and lounge is attempting to carve out a fourth segment in the lodging market; that of a "boutique" style, high-line property at mid-line pricing geared towards adult couples and not marketed to families.
A review of competitors' marketing strategies reveals no one targeting this market segment. Hotel and lounge is a referral-driven business—new business can be obtained by encouraging and rewarding present guests to refer future guests. Networking within business and civic groups is important; even if the business results are not immediately felt, it is an excellent public relations opportunity. Live piano, or jazz style trio, on the weekends will add excitement to the resort and draw community residents and guests from other properties.
A hypothetical behavior sequence model for a new customer (future guest) contemplating using a hotel and lounge service for the first time might look something like the following (based on discussions and interviews with potential guests):
Individual or couple decided to getaway for a few days. This may happen as a result of a need for a change of pace, vacation, or a celebration purpose. The need can arise anytime year round. Even in the late fall and winter months people are thinking "getaway" to break the weather doldrums.
Individual or couple investigates hotel services. In most cases, this means the they will consider first any recommendations that they are knowledgeable of through prior association (relative, friend, or social group). If the individual or couple is new to the area or otherwise has not made any close connections with people, he/she would look in the Yellow Pages for a listing, or perhaps look in a newspaper for advertising.
Acting on the advice of friends (or own knowledge), the individual or couple will call the recommended property to obtain information that will help him/her decide if this place is the best for them. Criteria for selection include: (1) amenities (pool, on-site food service, nonsmoking rooms, bar lounge area, etc.); (2) reputation (what kind of persons usually stay here?);(3) physical plant (how recent the renovation, upkeep, etc?); (4) courtesy (professional and attentive staff?); and (5) pricing (is the place affordable?).
Based on the information received, the individual or couple makes a decision and either schedules an appointment to view the property or makes a reservation.
The individual's satisfaction with his/her decision and with the service itself is largely a function of their interaction with the staff during their stay. Everyone associated with Seven Elms Resort will do everything possible to ensure a satisfactory experience for the guest, so that future business (and a future referral) is not at risk.
Marketing strategies will build on this model, taking advantage of precipitating events, fostering word-of-mouth recommendations, and creating satisfaction through interacting with the future or present guests.
Summary of Opportunities and Threats in the Environment
Overall, the environment appears very positive for Seven Elms Resort, Inc. The forces driving market demand, mainly economic and geographical, are strong, with more people staying closer to home for shorter getaway trips and their comfort level of visiting Lake Michigan, one of the Midwest's premiere travel destinations. On the negative side, there is competition, and it will take a while for Seven Elms Resort to get "established" in its market niche.
The business is driven by referrals and repeat business, so for the first few years Seven Elms Resort will need to be aggressive in attracting new guests. The marketing strategy is subject to change upon guest feedback and surveys.
Target Markets—Geographical: The major cities within a three-hour drive of the property.
Target Markets - Consumer:
- New visitors traveling to the area
- Middle- and upper-income bracket
- Returning visitors to the area
- Businesses needing to hold small overnight planning and strategy sessions
- Area wedding parties
Positioning and Product Strategy
For its guests, Seven Elms Resort will be positioned as a new, beautifully landscaped, nature-filled, unique atmosphere hotel with a bar lounge service that fits an adult "getaway" market niche. A full range of referral services (i.e. restaurant recommendations, shopping, taxis, area attractions) will be made available and tailored to the needs of the particular guest.
Business services range from room phones that are Internet jack ready and telephone answering message service for each room to on-site fax services and meeting room space (lounge sitting area and cabaret room). Seven Elms Resort will aim to attract business guests and their partners needing to hold planning or strategy sessions away from the office in a new and comfortable surrounding, in order to even out revenues throughout the week.
Unlike products that are produced, then distributed, and sold, hotel and lounge services are produced and consumed simultaneously in a real-time environment. Thus, distribution issues center on making the services available in a convenient manner to the greatest number of potential guests. Seven Elms Resort will maintain a front office staff member throughout the night so guests are able to get answers to any question or service when they need it. This flexibility is especially attractive to the business traveler. Clients will be able to contact Seven Elms Resort by telephone, fax, and e-mail.
Rooms per night fees have been developed. The fee schedule takes into account seasonal rates that are common in the area. For businesses and other large group functions, pricing can be discounted depending upon the number of rooms reserved.
Example lounge pricing and grill food offerings are also noted.
Service and Support Philosophy
By giving careful consideration to customer responsiveness, Seven Elms Resort's goal will be to meet and exceed every service expectation of its hotel and lounge services. Our guests can expect quality service and a total quality management (TQM) philosophy throughout all levels of the staff.
Promotion strategies will vary depending on the target market segments. Given the importance of word-of-mouth referrals among all market segments when choosing a "getaway" hotel or small business meeting location, our efforts are designed to create awareness and build referrals. A cost-effective campaign—focused on direct marketing, publicity, our frequent guest reward program, and advertising—is being proposed.
New business segment.
A direct marketing (direct mail) package consisting of a tri-fold brochure, letter of introduction, and reply card will be sent to a list of potential guests. This list can be obtained from International Business Lists, Inc. (Chicago, IL) and is compiled from tax records (by upper-income geographical areas, Secretary of State incorporation registrations, business license applications, and announcements from newspaper clippings).
The brochure and letter introduces Seven Elms Resort, stresses the importance of having a good time in comfortable surroundings, provides information on our resort services, and describes what sets us apart from other area hotel and lounge properties. The initial mailing may contain a promotional offer: the opportunity to receive a 10% discount on the first night's room rate.
Approximately two months after the mailing, an additional letter shall be sent. The potential guest would be asked to address any questions and the follow-up would remind them to drop in for a property tour on their next trip to Lake Michigan. Additionally, new businesses will be targeted and sent information.
The cycle would repeat itself with new target communities and select businesses and would continue through the first year. After that, additional mailings would be conducted, as needed, based upon occupancy goals.
Seven Elms Resort, Inc. will also consider developing a one-page newsletter to be mailed quarterly to past guests and prospects in the database. The newsletter can be used to update clients on hotel and lounge and area-related developments, but also serves as a reminder of what sets Seven Elms Resort apart. The newsletter can be produced in-house and for the cost of paper and a stamp creates a lot of goodwill among guests and business prospects.
Publicity and Public Relations
A news release will be sent to area newspapers and magazines announcing the launch of Seven Elms Resort, Inc. and lounge. Area talent searches will be conducted to secure weekend cabaret room entertainment.
Steve Blackburn will join the Benzie County Chamber of Commerce as a means of networking in the community. He also may make himself available for speaking engagements at other community or civic organizations as a low-cost way of increasing awareness and building goodwill in the community.
Guest Reward Programs
For present guests: "Stay 6 nights and get the seventh night for free" promotion and as a means of building business by word-of-mouth, present customers should be encouraged and rewarded for referring future guests. This can be accomplished by offering a small "rebate" (5% or 10% rebate on first night stay) to current customers who successfully refer a new guest.
Advertising is utilized primarily to attract new guests and serves to build awareness and name recognition of the resort in general, which is important for word-of-mouth referrals ("Oh yes, I've seen that resort's ads before.")
- Periodic advertising in target market area newspapers will afford Seven Elms Resort, Inc. name recognition benefits. From quarter page ads announcing its entertainment line-up to business card-sized logo ads.
- Yellow Pages—Ameritech PagesPlus, Greater Benzie County Telephone Directory. Research indicated that new visitors or people who don't have many personal acquaintances to ask about hotel and lounge services will look to the Yellow Pages to establish a list of potential hotel and lounge services to call. Even a small 2" × 2" boxed ad can create awareness and attract the desired target client, above and beyond the ability of a simple listing. Ameritech Yellow Pages covers the relevant market area, delivering over 30,000 copies to residents and business. Midwest Directories covers Greater Benzie County but is considered a second-tier directory to Ameritech.
- Telephone Book Cover. A business card-like ad on the plastic cover which is placed over any telephone book enables the business name/logo to be seen virtually 24 hours a day, 365 days a year. Covers are distributed bi-annually free of charge to residents and businesses in Benzie County.
- Restaurant Placemats—Opportunities exist for a business card-like ad to be placed on the paper placemats used in area restaurants (shelf-life of the ad is about six months), or for special (holiday) events taking place at a restaurant (1-off opportunities). An example would be getting on the area restaurant placemats (about 9,000 in six months), or getting on the special Lions Club "St. Patrick's Day" dinner placemats at the Village Restaurant (about 1,000 placemats for that event). Placemat advertising will reach area residents as well as area visitors/tourists staying at other places.
- Additional places to post flyers/business cards or for a business card ad include bulletin boards in public buildings (grocery stores, senior centers), and playbills for local theater groups.
Example Promotion Budget - 1999 (Amounts Included in Start-Up Funds)
Evaluation & Control Strategies
Objectives have been established for Seven Elms Resort so that actual performance can be measured. Thus, at the end of its first year, Seven Elms Resort should have:
- $772,000 in total revenue
- Anticipate 57% occupancy rating
Each subsequent year new objectives will be set for these benchmarks and actual performance will be measured against them. If actual performance falls short of objectives, investigation will be made into the cause, and plans will be adjusted accordingly.
In addition, it is recommended that Seven Elms Resort keep track of the source of all new guests ("Where did you hear of us?") in order to measure the effectiveness of each type of promotion. Each subsequent year's budget should adjust spending toward the types of promotion that reach the most new clients.
Customer satisfaction is most directly reflected in the year-to-year customer retention percentage. All lost customers should be investigated to find out why they left. A customer satisfaction survey may be considered after three to four years in the business.
Here is the Project Funding Summary for Seven Elms Resort:
Phase 1 Funding Amounts Sought
Developmental costs for the start-up of this new hotel and lounge services company are listed above. These schedules also listed in the Ten Year Proforma.
The following schedule highlights the anticipated developmental costs:
The development of Seven Elms Resort, Inc. will require the full-time talents of Steve Blackburn. Phase II growth amounts will be developed and sought at a later date, based upon needs to be determined at that time.
Financial Plan Assumptions
The following assumptions will be incorporated into Seven Elms Resort, Inc. proforma statements.
- All operating costs are based on Seven Elms Resort, Inc. management research of similar operating companies.
- Automated informational and bar control systems will reduce Seven Elms Resort, Inc. staff requirements.
- Developmental start-up costs are amortized over a five-year period.
- Room Occupancy Rate at 57%, G & A overhead and operations costs are calculated on an annual basis.
- Property manager and founder's salary is based on a fixed salary expense basis.
- All fixed and variable labor costs should rise annually at 2.5% per year.
- All revenues are figured to rise annually at five percent. Fixed annual, administrative, and office expenses rise at an annual rate of one half of one percent.
This is the resume of Steve Blackburn, the future owner of Seven Elms Resort Steve Blackburn has demonstrated experience in business and sales organization development. Developed and secured funding for own organization, author of several successful RFPs, business and market development plans. Has expertise in customer retention programs, sales training seminars, project planning, benchmark analysis, and forecasting and budgeting. Designed and implemented computer applications including: customer database service frequency schedules, truck routing, customer retention surveys, accounting and commission salary programs.
University of Michigan, Ann Arbor, Michigan Small Business Development Center 1996-present
As a United States SBA counselor I assist clients in sales and business development and other related matters including: Sales, Marketing, Manufacturing and Productivity Analysis, Regulations Compliance, and Regulatory Program Development.
MRT Environmental, Inc., Cleveland, Ohio 1992-1995
Co-founder, Business Development, Marketing, and Sales. A consulting and facilities development organization for environmental services clients in the health care industry. My responsibilities included: development of project opportunities and clients, sales personnel and training, advertising and promotion, and financial record keeping.
Pride & Barrow Industries, Inc., Dallas, Texas 1985-1992
Vice President - Sales and Development. $80 million subsidiary of a $3 billion public company. Created the new medical services division; integrated third year revenues exceeded $4.5 million and employed over 25 employees. Market development and direct sales management for all regional special services subsidiaries. Developed region's first comprehensive medical waste service organization by identifying and marketing to the healthcare industry an emerging service bundle of packaging, transportation, in-service training, and treatment of medical wastes. Serviced all sectors of the healthcare industry from physician offices through major medical centers.
Market Development Representative and Environmental Specialist. Analyzed new business development opportunities in all service areas. Municipal waste contracts, waste company acquisitions, landfill development, and expansions and ancillary specialty services. Responsible for training, sales functions, regulatory data submittal, and special waste stream permitting. Created computer applications and processing systems to maximize efficiency and minimize errors.
University of Michigan, 1998, M.B.A. candidate.
Notre Dame University - Graduated 1985. B.A. in Business Accounting and Economics. Completed a course of study for a B.S. in Chemistry.
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