Homework answers / question archive / Business Plan Rubric RTM 302 Description: Each section will be graded individually, with a possible total score of 85 points

Business Plan Rubric RTM 302 Description: Each section will be graded individually, with a possible total score of 85 points

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Business Plan Rubric RTM 302 Description: Each section will be graded individually, with a possible total score of 85 points. To obtain the maximum amount of points in each section, the student must provide all the details that explain that specific section of the business plan. The Business plan presentation is 15 points of the grade. Business Plan Section Points Cover Page 1 points Executive summary 4 points Business description ? Description of the industry. Identify trends and statistics in your business industry. Cite your sources. ? Legal structure of the business. Why? ? Description of the products and services ? Mission Statement or Unique Value Proposition 20 points Market and competitors ? Who are your customers? (customer segmentation and/or persona) ? Who is your competition? (mentioned and described at least 3) ? What advantages do you have over your competitors? ? What is your location? Why did you select that location? 20 points Marketing and Sales ? What is the pricing structure and margin of your products and services and your projected growth? What's your plan for advertising and promoting your products/services? How are you going to leverage social media to communicate with your customers? 5 points Financial Projections ? Startup cost (Explain your cost in the following areas: Equipment, Marketing, Facility, Permits, Overhead, Labor and incidentals). Explain where you are getting the funding from (Crowdsource, bank, friends, etc.) ? Break even analysis (Explain your breakeven point) ? P&L (Explain your income projections for the first year and the expected expenditure for the first year) Operations ? CEO background. What is the background of the person running this 15 points Sept 2020 15 points ? ? business? Other employees or subcontractors with salaries. What are the position descriptions and the salary for each position? What is your risk management plan? What kind of insurance do you need? Appendixes: ? -Social Media Plan first 90days ? -CEO resume ? -Financial spreadsheets Sept 2020 5 points LOGO 1 Serenity Inn’s Logo Many people overlook the critical aspect of having a logo when considering factors essential to building a business or an organization. However, a logo is an integral part of making any business or brand successful. Mainly, a logo is a combination of text and imagery the reflects a business name, vision, or mission. I have an interest in Bed and Breakfast accommodation business, and my brand is called “Serenity Inn.” Some like business include Portland White House, Brampton bed & breakfast inn, Nobnocket boutique inn, Ballaston Luxury Inn, and The Inn Sugar Hollow Farm. The logos of the aforementioned Bed and Breakfast spots are presented below. Figure 1: Portland White house Figure 2: Brampton bed & breakfast inn LOGO 2 Figure 3: Nobnocket boutique inn Figure 4: Ballaston Luxury Inn Figure 5: The Inn at Sugar Hollow Farm Serenity Inn Often, we need to take a break from our typical routine and escape to places of beauty, serenity, and mind-blowing activities. Serenity Inn has always been that magical place to unwind and shed off stress with its beautiful vineyards, porch swing, and amazing food. The figure below represents the amazing logo of Serene Inn. Generally, the logo identifies the company LOGO 3 through the use of text and symbols. Precisely, the text "Serenity Inn" represents the business's name, while the text "Wine and Dine" reflects the tag line of the business. The image in four cubes shows vegetables which ultimately represent the services we offer. Figure 6: Serenity Inn’s logo Serenity Inn is a Breakfast and Bed spot that sits on 80 serene acres surrounded by grape vineyards, mountains, and hardwood forest. Our potential customer includes any person or family that seeks a stress-free environment to enjoy their leisure. The spot has been operational for the last five years. Its primary goal is to offer perfect and private accommodation for our esteemed customers and make them feel like they are in a different world characterized by peace and luxury. What's more, Serenity Inn offers extra services beyond bed and breakfast, which has given it a competitive advantage since its foundation. First, our guest rooms and secluded chalets provide unquestionable privacy and a chance for customers to make their preferred meals and have free wine. Secondly, our cottages include wood-burning fireplaces to create that cozy wit for our customers. Thirdly, the place comes with a free horse and hot-air balloon ride to explore the surrounding environs. Additionally, customers can visit the vineyards, pickup grapes, and make their wine. Fundamentally, Serenity Inn is Utopia. Worksheet #1 1. My idea for my venture is opening my own bed and breakfast type of place with a huge vineyard. I would want to have package deals and different actives for people to enjoy and feel out of the world. For example having a private room where people can come make pizza and take lessons and at the end choose a free wine from the different selections to enjoy with there pizza in the outdoor vineyard with beautiful views and bonfires around to be cozy. I would also want a to have a hot air balloon activity and have baskets for people to go pick out grapes and make their own wine and many more. 2. Private 3. Adventure travel 4. https://www.candlelightinn.com/2020/09/18/things-to-do-in-napa-valley/ https://youngberghill.com/blog/five-fun-things-to-do-at-a-winery/ CALIFORNIA STATE UNIVERSITY - NORTHRIDGE College of Health and Human Development Department of Recreation & Tourism Management RTM 304: Entrepreneurial Ventures in Recreation and Human Services Workbook Dr. José H. González Edited on September 21, 2020 Section I - Introduction Why a workbook for RTM 304? 1. To support the lectures in the class. 2. It gives you a step-by-step process for developing a Business Plan for a business in Recreation, Hospitality or Tourism. Definitions: 1. Entrepreneurship: Is both the recognition of opportunities and the use of resources to implement innovative ideas for a new thoughtfully planned venture. 2. Human Services: Meeting human needs through an interdisciplinary knowledge base focusing on prevention as well as remediation of problems and maintaining a commitment to improving the overall quality of life of services to the population. 3. Recreation: Something people do to relax or have fun, activities done for enjoyment. 4. Intrapreneurship: Is the practice of entrepreneurial skills and approaches by or within a company. 1 Section 2 -Recreation Tourism Hospitality businesses: Main Categories include: 1. Transportation Sector. 2. Accommodation Sector 3. Food and Drink Sector 4. Activities, Programs and Events Sector. 5. Entertainment Sector 6. Retail Section Sector. Sub-category within these categories include: Restaurants, Food Trucks, Tour Buses, Airbnb Accommodation, Outfitters, Glamping, Corporate Team Building, Wilderness Expedition, Woman only Courses, Summer Camp, Adventure Therapy, Adventure Travel, Adventure Club, Event Management, Food Truck, Grown up Camps. 2 Section 3 – Business Plan What is a Business Plan? A Business Plan is a map or a path that a person can create in order to understand the requirements needed to establish a business. The plan should be used to show lenders, investors or yourself the financial aspects, products, your ideal customers and how are they going to purchase your products. In addition, the business plan explains the day-today operation of your business. The sections of the Business Plans are: 1. Executive summary 2. The Company 3. Products and Services 4. Market and competitors 5. Sales and Marketing 6. Operations 6. Finances. The Business Plan helps you avoid common startup mistakes and also helps you increase the likelihood of success. It forces the entrepreneur to take more than a wishful, casual look at the feasibility of the business. Elements of the Business Plan: Executive Summary should be completed last after the whole business plan is completed. This is a summary of your products, target market, and industry trends. 3 The Company should be able to ask, what is your business focus? What is your Unique Value Proposition (UVP)? Where are you located? Why did you choose that location? Is there an existing market for your business idea? Why? Who is your competition? What is the Legal structure of your business? Products and Services. What product or services will your business provide? Create a list and description of all your services/products. Marketing. Who are your customers (customer segmentation)? Price of sales? What's your break-even point? What's your markup? What's your plan for advertising and promoting your services? What is your social media plan? Operation. What is the background of the person running this business? Who do you need to hire? What are the position descriptions and the salary for each position? What is your hiring timeline? What are the business hours of operations? What kind of insurance do you need? What is your risk management plan? How are you collecting money? Cash or credit? Financial Plan What's the starting budget? What capital is needed for equipment? What are the assets, what are the liabilities and what is the net worth? What are the income projections for 3 months, 6 months, 1 year? What's going to be the cash flow? What accounting software are you going to use? What's going to be the inventory control used? What is your balance sheet? What are your profit and loss projected? 4 How to form an LLC in California 1. Choose a Name for Your California LLC 2. File Articles of Organization with the Secretary of State 3. File a Statement of Information with the Secretary of State (Form LLC 12 and pay the $20 fee) 4. Pay Your California State Tax Obligations (minimun of franshise 5. Get your IRS Employer Identification Number (EIN) Modified from https://www.nolo.com/legal-encyclopedia/california-form-llc-31670.html 5 Section 4 – Let’s create a business! What is your business idea? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ (What will you sell? Who will buy it? How will your business help people solve a problem or help with a deep pain?) What category are you choosing for your business plan? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ (Transportation Sector, Accommodation Sector, etc.) What sub-category? ________________________________________________________________________ ________________________________________________________________________ ______________________________________________________________________________________ (For example, if you decided that it was the Accommodation Sector, is your business idea to have a bed and breakfast? An Air B&B rental? A campground? An RV or van?) What is your Unique Value Proposition, UVP? ________________________________________________________________________ ________________________________________________________________________ (Unique Value Proposition is a clear statement that describes the benefit of your offer). 6 Who is your competitor? Competitor 1 Website Short description of the business Competitor 2 Website Short description of the business Competitor 3 Website Short description of the business What distinguishes you from the competition? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ Identify trends and statistics in your business industry ________________________________________________________________________ ________________________________________________________________________ 7 What is going to be your Business legal status? Why? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ Sole Proprietorship, Partnership, LLC 4, S Corporation, Doing Business As (DBA) What is the name of your business? ________________________________________________________________________ Where is the business located? Why did you choose that location? ________________________________________________________________________ ________________________________________________________________________ What products and/or services are you selling? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ Describe each product and/or services ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ 8 ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ Who are your customers (customer segmentation and/or persona)? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ What are your prices for each product and/or service? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ What's your break-even point? ________________________________________________________________________ ________________________________________________________________________ _______________________________________________________________________ What's your markup? ________________________________________________________________________ ________________________________________________________________________ _______________________________________________________________________ 9 What's your plan for advertising and promoting your services? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ What is the background of the person running this business? (Tell the story to set you apart) ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ What are the position descriptions and the salary for each position? Position 1 Description Salary Position 2 Description Salary Position 3 Description Salary 10 What is your hiring timeline? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ What are the business hours of operations? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ What kind of insurance do you need? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ What is your risk management plan? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ 11 How are you collecting money? Cash or credit? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ What is the business starting budget? Explain ? Equipment Computer $ Furniture $ Cell phone $ What else? $ ? Marketing Website $ Hosting $ Content creator $ What else? $ 12 ? Facilities and land Building purchase or lease $ Renovations $ Contractor fees $ What else? $ ? Fees and Permits Incorporation $ Government fees $ Permits $ What else? $ ? Overhead Insurance $ Utilities $ Cell phone $ What else? $ 13 ? Labor and consultants Legal fees $ Accounting fees $ Independent contractor $ What else? $ Explain where are you getting the funding from (Crowdsource, bank, friends, etc.) ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ What are the assets, what are the liabilities and what is the net worth? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ What are the income projections for 3 months, 6 months, 1 year? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ 14 What's going to be the cash flow? ________________________________________________________________________ ________________________________________________________________________ _______________________________________________________________________ What accounting software are you going to use? ________________________________________________________________________ ________________________________________________________________________ What's going to be the inventory control using? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ 15 Section 5 - Resources Create a list of resources such as the CSUN Library, IRS.gov and SBA.org ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ The last part of the workbook is to read the business plan example: Dallas Brew Bikes and Tours. After you read the business plan, using the business plan rubric add information to the business plan in order to achieve the highest score you can. 16 Example - Dallas Brew Bikes & Tours Student name 17 Statement of Purpose The mission of Dallas Brew Bikes & Tours is to introduce people to the Dallas beer scene in a new way. Each tour strives to provide top quality entertainment and knowledge unique to the Dallas brewery tradition. We work hard to ensure this mission in several ways, including: • Offering tours that visit top rated and renowned breweries in the local area • Promoting a comfortable social environment for participants to have fun and interact with one another • Offering unique knowledge to participants about craft beer and spirits from experienced tour guides that are passionate and knowledgeable about the craft beer culture • Ensuring safety and security throughout the tour, both on the bike and at each stop included on the tour • Providing a team made up of the most experienced and knowledgeable personnel responsible for providing customers with the best experience 18 Table of Contents Chapter 1 - The Business............................................................4 Description of the Business, Product and Services, and Location Chapter 2 - Marketing Plan.........................................................7 Customers Competitors Pricing and Sales Advertising and Public Relationships Chapter 3 - Management Plan......................................................10 Statement of Background Staffing Strength and Weaknesses Personnel Needs Hiring and Training Salaries and benefits Chapter 4 - Financial Management Plan..........................................14 Starting Budget Operating Budget Capital Equipment List Balance Sheet Breakeven Analysis Pro-Forma Income projection Pro-Forma Cash Flow Accounting and Inventory Control System 19 Chapter 5 - Executive Summary...................................................20 Appendix Chapter 1 - The Business Description The purpose of Dallas Brew Bike & Tours is to provide a unique opportunity for adults to experience the local craft beer culture while learning the history behind the art of beer, as well as socializing with other adults and leaving with a memorable experience. This service will be located and serve the Dallas, Texas community and target local residents, as well as tourists that are visiting the area. Dallas Brew Bikes & Tours will provide an escape for adults from their everyday lives and allow them to see Downtown Dallas in a new way. Not only will this service provide transportation, we will also provide knowledgeable information on craft beer and spirits, fun activities throughout the tour, and promotional items from our company and local businesses. We want to encourage guests to get out of their comfort zone, try something new, see what the local businesses have to offer, and meet new people in their community. The craft beer culture in the United States has taken the economy by storm. The demand for craft beer has continued to grow in recent years and has helped strengthen local businesses and economies. In 2016 for example, breweries brought in an estimated $68 billion to the national economy, and that number continues to grow as more breweries pop up in different cities and become staples in local communities (Hughes, 2018). Texas has played a pivotal role in the craft beer scene. As of 2016, there were 250 breweries located in Texas and that number is continuing to grow (Brewers Association, 2017). These breweries have played a role in boosting the local economy and promoting the “support local business” movement. The Brewers Association found that in Texas alone, in 2016 there were 20 1,156,536 barrels of craft beer produced. This rise in breweries provides job opportunities and careers in this expanding field. This encourages residents to take pride in supporting local breweries and taking part in this growing culture. To highlight just how much the craft beer scene has grown, the investment firm Coldwell Banker Richard Ellis (CBRE, 2018) states that their research found that “the number of craft breweries in Texas grew 990 percent in the past 12 years, up from 20 in 2005 to 218 in 2017” (CBRE, 2018). As CBRE notes, this has been due to the increasing demand of breweries from the local community and results in an increase in business opportunities. Products and Services At Dallas Brew Bikes & Tours we work hard to ensure that we are providing a top-quality experience. We want our customers to have a one of a kind experiences that they’ll remember for years to come. 1) Transportation in our Brew Bike: a. Our Brew Bikes accommodates up to 16 people at one time. The bike is encouraged for large parties and events, and can be rented out completely, or guests can reserve a certain number of seats on this bike and mix with different groups. In order to use this bike, guests need to have filled at least 12 of the seats. b. As our business develops we would eventually like to offer a smaller brew bike that will be available for a more personal group setting. This bike seats up to 12 people. 21 2) Beer Education: Tour guides will be trained and educated on the history of beer and the beer culture. They will provide guests with suggestions, a background into the local culture, and beer basics. To make sure it is fun and light, they will use games and quizzes with beer related prizes or passes to encourage involvement. Guests will leave with knowledge of the basics in beer, and a new passion in the craft beer scene. • Topics discussed will include: Types and styles of beers, brewing ingredients, steps in the brewing process, the history of beer, pairings, etc. • Each stop will have an educational element, and as the tour goes on participants will become more familiar and knowledgeable about beer • We will also provide education on craft spirits. This will not be a main focus on our tour, but if guests show interest or request this we will add this element to our tour. 3) Entertainment: Tour guides will also entertain guests both on the bike, and at the locations. They will provide games, ice breakers and music to ensure a fun and lively atmosphere. 4) Team Building and Events: The business will provide deals and specials for groups that are hosting special events, and tour guides will be administered to host these events. This is a perfect opportunity for companies and groups. 5) Safety: With alcohol and bikes involved, it’s important to ensure safety. Guides will be trained and will be certified to handle any situation. They will also make sure guests don’t drink too much and have a safe ride home after the tour. Tour guides will all be CPR, First Aid, and AED certified. 22 6) Merchandise: To promote our business and leave customers with memorable souvenirs, we will offer merchandise available for purchase. The types of merchandise offered will include; T-shirts, sweatshirts, and beer glassware. This will help get the business’s name out there in the local community. This merchandise will be available for purchase on the bikes. Location Dallas is a fast-paced metropolitan city located in Texas. It currently has an estimated population of 1.3 million residents and continues to grow. This city is made up of a diverse population of people. Residents in Dallas come from a wide array of backgrounds; 48.3% identify as White, 28.2% identify as Hispanic, 16.8% identify as Black, and 6% identify as Asian (Dallas Culture Map). This diverse population has resulted in a mix of new ideas, cultures, cuisine, and arts that are unique to Dallas. This rich diversity has made Dallas an increasingly popular destination for tourists. As John Egan, a correspondent for Culture Map notes, Dallas is the most visited destination in Texas, attracting 49 million visitors a year (Culture Map, 2018). Dallas has many activities for tourists including museums, cuisine, music, nightlife, and sporting events. The Dallas Cowboys are responsible for attracting many tourists during football season. Dallas is home to the Dallas Cowboys football team, which is historically one of the most popular and most profitable teams in the National Football League. The Cowboys have a very large fanbase and people from all over the state and country come to Dallas to see these games. Many of these tourists look for entertainment and nightlife opportunities in Dallas while they are visiting. The number of universities in the local areas is also what makes Dallas an ideal location for our business. There are approximately nineteen 23 different universities in the local vicinity, which attract a large population of young adults that contribute to the economy, nightlife, and entertainment scene in the Dallas Area. The weather in Dallas also makes it an ideal location for this business. Its tours are dependent on good weather that make it possible to transport tourists to different locations on the bike. The average temperature throughout the year in Dallas is 70 degrees. This allow customers to not have to experience extreme or undesirable weather conditions while on our tours. 24 Chapter 2 - Marketing Plan Customers: • Young-Adults/College Students: It is very important to our business that we establish a strong relationship with the young adult population in Dallas. They are a major contributor to nightlife and the entertainment scene. We will offer discounts to college students from local colleges and universities. We see our business as a great opportunity for them to enjoy a night out, celebrate birthdays/special events, etc. • “Support Local”: Our business will work hard to become a staple in the community. We want to support other businesses and develop partnerships. In recent years, many communities have seen an emergence of people dedicated to supporting local business and forming relationships with other businesses. This group will be a key part of our business, along with the college students we will provide deals and discounts to local residents that are an active part of the community. • Tourists 25 Due to the high levels of tourism in the area, much of our business will be focused on tourists that are visiting Dallas. Many tourists are looking for entertainment, nightlife, and socialization and we will be able to provide them with all of that as well as introduce them to other businesses in the area that will meet their needs. Competition: There is another business in Dallas providing party bike tours throughout the city, so it is very important that we stand out. The Dallas Party bike is our biggest competitor in the area. The Dallas Party Bike offers bike tours for up to 15 people throughout Downtown Dallas. Their tours start at $45 per person and last approximately 2 hours, with three stops. What gives Dallas Brew Bikes & Tours the competitive advantage over their business is our pricing. As I discuss below, Dallas Brew Bikes and Tours will be able to provide lower prices for our customers as well as longer tours, with more stops and destinations included. Pricing and Sales Since competition is a very important factor for this business, it is important that its prices give it a competitive advantage, while allowing the business to make a profit and grow. The competing business for example, offers seats for $45, bringing the cost for all 15 seats to $675. The Dallas Brew Bikes & Tours business will be able to provide seats at $22.50 dollars per person. This brings the total bike cost to $360 for 16 seats. Based on gathered information, we estimate that we will host up to 440 tours throughout the year. The cost of tours along with the sales of merchandise will result in an estimated profit of $160,000 in the first year. Advertising & PR 26 In this day and age, the internet provides a very affordable and efficient way to get our business seen by others. We want to be in the public eye and will use the internet as our biggest tool for advertising. We will be very active on social media platforms so that people become familiar with our business and what we offer. We will also use social media to engage and support local business. • Instagram: We will post every two days on our Instagram page to keep our followers updated and engaged. Posts will include pictures and videos taken on tours, as well as pictures that we have been tagged in by people that have used our service. We will also use our Instagram to post about special deals or discounts. We will support the breweries that we work with by posting their deals or upcoming events. • Facebook: We will routinely post on Facebook. Our Instagram will be linked to Facebook, allowing our Instagram posts to be previewed on Facebook. We will post updates on our business, as well as links to interesting articles that relate to our business. • Business Website: Our business website will be the home base for our business. The website will educate people on what our mission is, allow easy tour booking, and give pricing information, pictures, review, etc. It will also provide ways to get in contact with us regarding questions or booking. • Local Breweries: One of our goals will be to advertise at the breweries included on our tours. We would like to have posters, coasters used at tables, and pamphlets at these locations. 27 (Other websites we will use include Eventbrite and Groupon. Groupon will allow us to provide special deals to customers that entice them to purchase our tours. Eventbrite will allow people who are searching for events in the Dallas area to see our tours and availability.) Chapter 3- Management Plan Statement of Background The goal of Dallas Brew Bikes & Tours is to provide an educational tour that provides entertainment and promotes the Dallas craft beer culture. Initially, the majority of duties will be performed by xxxx, the Chief Executive Officer and Owner. xxxxx will eventually hire a team of knowledgeable and passionate employees in charge of hosting the tours. xxxxx will solely be in charge of the marketing and accounting for the business. xxxxxx has developed a passion for Hospitality and Tourism through her work experience and education. xxxxx worked as a tour guide at the Gateway Science Museum in Chico, California which sparked her interest in tourism. As a docent she guided tours and fieldtrips and was responsible for educating visitors on exhibits and the history of the museum. She then went on to work at Barrelhouse 101 in Ventura, California, where she developed a passion and extensive knowledge of beer. During her time at Barrelhouse 101 she was able to form relationships with professionals in the local brewery scene. She is now completing her bachelor’s degree at California State University, Northridge in Tourism, Hospitality, and Recreation Management. 28 Staffing and Management team The management team will solely be xxxxxx. Ideally, as the business grows, we would like to give the tour guides more responsibilities and allow them to grow with the company and allow opportunities for full-time and management positions. Strengths and Weaknesses Strengths for the Dallas Brew Bike & Tours business include the location. Dallas has great weather, lots of tourism, and great nightlife which all can be used to promote our business. The cost to run the business is also a big strength. xxxx will be managing this business individually, which cuts down the cost of salaries. xxxxx will also be doing the majority of advertising on social media platforms to keep the cost of advertising to a minimum. While there will be a storage unit fee for the bike, the cost of rent will be low which gives the business a great advantage. As previously stated, being a local business will also be a strength in the community. The business will not be part of a franchise and will utilize and support local businesses which will form important relationships in the community. This will be a strength when it comes to forging partnerships in the craft beer community. A major weakness that needs to be taken into consideration is having xxxxx be the sole operator of the business. The success of the business will depend on her ability to successfully run the business, make financial decisions, and balance her time. Having another person to manage the business as the company grows will be the next step for the business. This will allow xxxxxx to split the responsibilities and increase efficiency. 29 Personnel Needs Our business will need highly trained personnel in charge of hosting tours. xxxxxxx will be the primary host but will look to hire 2-3 experienced tour guides. These tour guides will be part-time employees with competitive pay. They will be given advanced notice when a tour is booked, allowing them to have a flexible schedule. This will make the position appealing to potential candidates. Hiring and Training As stated above, the team put together to run the business will be a very important part of the business’s success. The business will need personnel that are passionate and knowledgably about beer and have previous experience in Hospitality or Tourism. We will look to hire recently graduated college students from the local area that are looking for opportunities in the Tourism industry. As we grow, we will also work to provide internship opportunities for students at the local universities. Training for our tour guides will include; First Aid, CPR/AED. Tour guides will be responsible for ensuring the safety of those on the tour, so it is important that they are properly trained and educated. We will also require tour guides to complete the Cicerone Program. The Cicerone Program is an online education and certification program that provides important knowledge for those in the beer industry. After extensive research, we feel that the successfully completing the Cicerone Program as well as tests that we have created specifically on the Dallas beer scene, will assure us that tour guides are able to provide guests with a one of a kind experience. We will also 30 continuously quiz our tour guides on safety regulations and beer information, to ensure that they retain the information required of them. Salaries Besides xxxxx and her manager, the rest of the employees will be part-time employees paid by the hour. Employees will be paid $22 dollars an hour. We would also like to work with local breweries and restaurants to provide a ‘neighbor’ discount for our employees. Employees will receive 15% discounts on tours for their family and friends. Employees will also receive merchandise to wear on tours, as well as 25% discounts on new merchandise. 31 32 Chapter 4 – Financial Management Plan Starting Budget It is very important that we accurately assess costs when creating the budget for our new business. We will have to take many things into consideration for our business. As with any new business, it is important that we take certain things into consideration (such as advertising, salaries, etc.) that will change as time goes on. Below are important considerations when forming the budget for Dallas Brew Bikes & Tours: • Insurance; Insurance for the bike will be a major cost. Party bikes are very expensive and to have 16 (17 including tour guide) all on the bike is a very big responsibility, especially for entertainment and transportation services. Insurance costs will reflect this. • Funds for the Party Bike; The Party Bike is an expensive investment that needs to be included into the startup cost • Salaries; The salaries of xxxx as well as the part-time tour guides will need to be budgeted. 33 • Advertising; While the business will do most of its advertising online, we will also advertise in local restaurants and breweries when we first start to get our name out there. This will come at a cost and needs to be included in the budget. • Legal; It is important that our business has legal advising in the case of an incident. Operating Budget Our businesses’ Operating Budget will consist of maintenance, utilities, insurance merchandise, salaries, and marketing • Maintenance: In order to provide a safe experience, it is important that we are routinely getting the bike maintenance and ensuring that it is safe for guests to be on. These costs will add up and be a major consideration for the business. • Utilities; The storage unit for the bike, cost of internet/telephone are all important things that we need to budget in order to successfully run as a business • Insurance; as mentioned above • Merchandise; We will have merchandise that we sell to promote our business and get our business seen. This will include T-shirts, hoodies, mugs, etc. It is important that these are good quality and appealing to the eye. It represents our business • Marketing; We will need to continue marketing efficiently, especially as a new business. • Salaries of all employees Capital Equipment List 34 A list of equipment that Dallas Brew Bikes & Tours will need to successfully start their operation is listed below: 1) Cell phone (Communication) 2) Bikes (Included in startup cost) 3) Laptop (Marketing, social media, communication) 4) Merchandise (T-shirts, mugs, etc.) 5) Wireless Bluetooth Speaker 6) First aid kit 7) Water & Snacks (optional for guests) 8) I-pod (Music on bike) 9) Game equipment 10) Maps of tour stops 35 Balance Sheet 36 Break Even Analysis 37 Profits & Losses 38 Chapter 5 – Chief Executive Summary Dallas Brew Bikes & Tours strives to provide guests with a one of a kind look into the craft beer scene in Dallas. Tour guides will educate guests on beer history, types of beer, and sampling Dallas’ unique beers. Dallas Brew Bikes & Tours will also provide entertainment and transportation as guests make their way through the town. It is evident that the craft beer culture has marked its place in Dallas, with new breweries popping up throughout Texas and helping the local economy (p. 7). Dallas Brew Bike & Tours has competition in the local area, but with their knowledge and expertise, as well as their affordable prices will work hard to set themselves apart and become a staple in the community. Dallas provides something for everyone. It excels in nightlife, museums, sporting events, cuisines, and most importantly the beer culture. That is why is it the most visited destination in Texas (p. 7). Dallas Brew Bikes & Tours has found the ideal location to put down its roots and contribute to this growing tourist destination. xxxxxx, the company’s CEO, has shown a passion and dedication to the Tourism industry and will use this to grow the company. She has worked as a tour guide, been in charge of field trips, and has expertise working with all ages. She is completing her bachelor’s degree in Tourism, Hospitality, and Recreation management which has equipped her with the skills and knowledge for this next venture. Her knowledge of beer and spirits from her time at Barrelhouse 101 has taught her about the craft beer culture and growing scene. Dallas Brew Bike & Tours is expected to generate $160,000 in the first fiscal year. Due to the location, surrounding population, and economy the annual projected growth is expected to be 20%. It will take hard work, dedication, and time to achieve this goal, but xxxx is dedicated to creating this successful business. Dallas Brew Bikes & Tours has the potential to develop strong 39 relationships in the community and become a staple business that provides entertainment and education on the Dallas community. 40 SERENITY INN Hasmik Manavgyan Instructor’s name: Jose Gonzalez Course: RTM 303 04/30/2021 Overview ? Located at Utopia and occupies 80 acres. ? Have been operational for five years. ? Characterized by peace and luxury. ? Has privacy on the guest rooms and secluded chalets. ? Customers are offered free wine. ? There are free horse and hot air balloon ride. Competitors ? Portland White house ? Brampton bed & breakfast Inn ? Nobocket boutique Inn ? Ballston Luxury Inn ? The Inn at Sugar Hollow Farm Advantages of social media marketing over traditional marketing ? Creating brand awareness ? Increasing traffic ? Building customer relationships ? Increased target audience ? Detailed analytics ? Reduced marketing costs Use of social media to enhance competitive advantage ? Increasing brand awareness ? Improving conversation rates ? Enhancing brand loyalty ? Understanding the current market Social media marketing strategies ? Instagram has 562,000 followers. ? Twitter has 897,000 followers. ? Facebook marketing 2.4milion followers. ? The Facebook account is posted twice in one day. ? ? Instagram is three times a day. Twitter is five times a day. SWOT analysis Strengths ? Able to target more customers. ? The user experience is excellent. Weakness ? Weak protection of user’s information creating negative effect. ? Weak click through- rate of ads Opportunities ? Increase of mobile users who can access the social media platforms ? Increased in innovation Threats ? Cyber attacks ? Competition in improving social media platforms. Competitors strategies ? Direct messages to potential customers. ? Frequent posts engaging customers ? Regular updates on website. ? Improved social media data analytics. Goals and strategy ? To improve brand awareness ? Improving customer care services ? Improving social media data analytics Strategy ? Promoting partnership References ? Dorenda-Zaborowicz, M. (2012). Marketing w social media. Nowe Media, 0(3), 59. https://doi.org/10.12775/nm.2012.003 ? Gupta, S., & Bansal, E. (2016). Consumer Orientation Towards Online Buying Via Social Media Platforms. International Journal Of Scientific Research And Education. https://doi.org/10.18535/ijsre/v4i01.15 ? Jeremen, D., J?drasiak, M., & Rapacz, A. (2016). The Concept of Smart Hotels as an Innovation on the Hospitality Industry Market – Case Study of Puro Hotel in Wroc?aw. Ekonomiczne Problemy Turystyki, 36, 65-75. https://doi.org/10.18276/ept.2016.4.36-06 ? Qiu, S., & Wei, L. (2017). SWOT Analysis and Competition Approaches of Hotels in Guangzhou. IOSR Journal Of Business And Management, 19(01), 19-25. https://doi.org/10.9790/487x-1901021925 *** WINDSOR HOTEL WELCOME TO LUXURY Contact Gerry Mitchel - General Manager Email hello@Windsor Hotel.com Telephone (915) 590-6411 Website www.Windsor Hotel.com For Immediate Release 20/03/2020 Windsor Hotel reopens after extensive renovations The iconic luxury hotel added 12 new bedrooms and a spa to its offering El Paso, TX 20/03/2020 Windsor Hotel will reopen on 25th March 2020 at refurbishment and upgrading work. Contact Cloor there to entertext Email Cortoreto entertext Telephone click on the entertext Website Clothare to enter Choose Cortaptoetadata The well-known luxury hotel has added 12 luxury spa to its facilities after working with award winn Press Release Title Press Release Subtitle The reopening of Windsor Hotel represents the en couldn't be more excited to open our doors and w luxurious new facilities. Gerry Mitchel - General The hotel has maintained its five-star rating after and will celebrate the reopening with a garden pa 100 guests through the door. Location) Date Text Windsor Hotel is a luxury hotel and health spa loc fine dining restaurant serving modern European equipped health spa with pool, sauna and treatm before being bought by the Acorn Hotel group in Quote For high resolution images or more information p listed above.