Paradise Island Resort_ A Completed Business Plan PDF

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Paradise Island Resort Business Plan Created for Zaman University, Introduction to Business Course 2011/2012 Academic Year, Instructor: Lance Chase Team Members: Imey Tang, Charadine Pich TABLE OF CONTENTS Executive Summary 4 Part 1: The Contemporary Business Environment Description of Business 5 Fo...

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Paradise Island Resort_ A Completed Business Plan Charadine Pich

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Paradise Island Resort Business Plan Created for Zaman University, Introduction to Business Course 2011/2012 Academic Year, Instructor: Lance Chase Team Members: Imey Tang, Charadine Pich

TABLE OF CONTENTS 4

Executive Summary Part 1: The Contemporary Business Environment Description of Business

5

Form of Business Ownership

5

Ideal customer

5

Our Advantages

5

Ethical Issues

6

SWOT Analysis

7

Social Responsibility

7

Global Issues

8

Part 2: The Management of Paradise Islands Resort Mission Statement

9

Business Goals

9

Management

10

Organization Chart

10

Floor Plan

11

Raw Materials and Supplies

11

Quality Assurance

12

Part 3: People in the Paradise Islands Resort Corporate Culture

12

Leadership Philosophy

13

Job Descriptions

13

Job Specifications

15

Training Employees

16

Compensation

17

Incentives

17

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Part 4: Marketing The Paradise Islands Resort Target Market

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Product Features and Benefits

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Product Differentiation

20

Pricing

21

Place/Distribution Issues

21

Advertising

22

Promotions

22

Part 5: Managing Information IT Resources

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Customer Service

23

Cost of Doing Business Chart

23

Expected Revenue

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Part 6: Financial Issues Balance Sheet

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Startup Costs

25

Financing

25

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Executive Summary

Our Paradise Island Resort will locate on beautiful beach island call ‘Bamboo Island’ in Sihanoukville, Cambodia. We would provide excellent services and security for our customers, and safe working environment, training, suitable salaries plus bonuses and other benefits for the best employees. Additionally, we would be equitable and honest return to our investors, making significant contributions to our partners and the community as a whole. Our resort would be an environmentally friendly organization that offers more jobs opportunity for community.

There will be incredible products and services to be offered which include an international standard 5 stars hotel, 7 bungalows, casino, restaurants, and much more amazing places such as amusement park, zoo, golf course, rented cruiser and sailboats which would provide luxury services for all customers that come to visit our Paradise Resort, moreover, there will also has airport and dock parking which is very flexible for customers to visit us.

Our ideal customers would be a high-class, middle-class family and especially couples, they will come to spend their vacation at our resort and create remarkable memory with special packages that we organize for them. Consequently, we are the first business to provide this huge resort project and full ranges of services to our customers and ensure that all of which are of best quality in Cambodia as well as neighboring countries such as Vietnam, Laos, Myanmar, and Thailand.

Our resort will own by CEO and General manager, which each of them must have a minimum of 5 years experiences in managing the business and have at least Master degree for the relevant field. They must have excellent interpersonal skills and fluent in both English and Khmer, additionally they would have full capacities of understanding the complexities of

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both the organization and the environment and to lead changes in the organization so as to enhance its competitiveness, especially our CEO is also an ethical leader who reflects high ethical standard and show high moral to other employees.

Currently, we have good relations with China and move closer toward EU. As a result, we expect to gain large majority of our guests from those countries in the future. We will make several surveys to analyze about their experiences at our resort and adjust changes toward their recommendations. We expect in the next five years, we would be able to invest more into our resort by replace new equipment and expand our business to attract more guests plus increase more job opportunity to local people in the community.

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PART 1 THE CONTEMPORARY BUSINESS ENVIRONMENT Description of Business Paradise Island Resort will locate on a newly built island surrounded by colorful coral under the limpid sea. It will include: the places for extreme sports, Airport and dock parking, a zoo and theme park, a golf course, a hotel and Casino, rented cruiser and sailboats, and especially our guests will be delighted with the white beach. Our resort will offer a comfortable place for all ages and all people throughout the globe to visit, relax and create an unforgettable memory. Form of Business Ownership Our business will be a partnership which means we will run it together. The reasons why we choose to be partnership rather than sole proprietorship or corporation is because we require a lot of capital investment, talent and skills in order to operate our business. As a partnership, we have high capacities to expand our business through adding new talents as well as skills and money from each and every members. Moreover, we can gain tax benefits, since our resort is a large business in which we are require to pay high tax and if we choose to be corporation then we have to pay even more, and it is relatively easy to get loans from the banks if we need to. Ideal Customer Our ideal customer will be a high-class and middle-class family as well as couples. Customers will come to spend their vacations at our resort and they will be impress with their unique experiences and amazing atmosphere during their stay together with excellent services offer. We will also have special packages available for families and couples. Our Advantages Our resort will provide unique experiences for our guests in which we will focus on reasonable prices, comfortable atmosphere, excellent services, special foods and

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promotions. There will be many different kinds of restaurants in our resort and we will provide different types of foods such as: Korean, Japanese, Western, Italian, and Cambodian. For our special promotions, we will have packages for families and couples, kid clubs that take good care of children so their parents will not need to worry about them plus they could spend good times as a couple. Our resort will also be a good place for couples to create unforgettable honeymoon memories. Our Paradise Island Resort also has many kinds of rooms, which includes club suites; junior suites, executive suites, deluxe suites and bungalows that all will be available with beautiful landscapes and environment to satisfy our guests’ demand. Ethical Issues Our services will be provided with high quality and reasonable prices. Environmental friendly is our priority in operating the business. 3 core principles 1. Customers: we will treat all customers fairly and gentle by charging them with reasonable prices. We will consider customers as our guests and serve them with pleasure to have them feel very delightful. 2. Quality: we focus on quality rather than just seeking for profits. Each and every of our products and services will be of high quality and hygienic. To provide services to customers from heart is our obligation. 3. Environment: we will try to be environmental friendly as well as try to promote “Green marketing” to our customers.

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SWOT Analysis

Organizational

Strengths

Weaknesses

• Excellent services and security

• Need a lot of capital

• Good location and amazing landscape

• Transportation

• Reasonable prices and numerous activities offered

• Competitors

• Modern facilities and clean atmosphere • Fresh foods

• Local cultures and traditions involve

Environmental

Opportunities

Threats

• Unique services offered in the region

• Risky for transportation

• More profit earning

• Trash from construction

• More visitors

• No clean water

• Increase GDP in the country

• No electricity

• Job opportunities

• Weather and natural disasters (Storm..etc)

Social Responsibility There are 6 major areas in which we will concern about the most: 1. Supplier: we will make good relations with all of our suppliers to guarantee high quality products and minimize delay or late supplies and especially eliminate betrayal. We will buy high quality products, include our inventory and furniture, from countries around the world but we will buy fresh seafood from fishermen located near our resort. 2. Employees: we will treat all of our employees fairly and motivate them to work more by offering bonuses and other benefits plus training courses in order to improve their work performances. Our employees must be over 18, given full rights and privileges as well as offering suitable wages and responsibilities. 3. Investor: we will definitely be honest with them and we will not betray our investors by given all sort of fake financial transactions include financial reports, accounting analysis, stock-price, share, and so on. We will cooperate together to expand our business and discuss any problems together to find solutions to it. 8

4. Customers: we will obey consumerism by using high quality products plus providing excellent services to them and get rid of unfair pricing, especially we will not practice collusion. Moreover, we will listen to their comments and adjust changes if possible. 5. Environment: as mentioned, our priority in operating this business is to be environmental friendly. We will have water purifier system to convert dirty or used water to clean water before we flow it into the sea. Furthermore, instead of using electricity supply, our business will equip with solar power to generate energy throughout the resort. We will regulate daily waste-control throughout the resort especially the beach. 6. Local and the international community: we will get involved in charities on specific or particular days or events and many other special occasions as well. During those days, we will invite orphans teams from some organizations to perform their special talents, such as tradition dance and music, and the revenues from those performances will directly given to orphans rather than our resort’s revenues. As a result, our customers perhaps might feel that they are also engaging in those charity programs as well. Global Issues Our business will have to concern about global issues for sure because our customers are from different countries around the world and somehow have different cultures as well as ways of living. First of all, we have to concern about the cultural difference. Our resort provides flexible services that customers would satisfy, for instance, we will offer multicultural foods include Western and Asian foods as well. Secondly, the issue that we have to focus on is the economic stabilizations. If the global economy has significant grow, then tourist attractions in Cambodia is also increase and at the same time we expect that more tourists will come to our resort. In contrast, if the global economy goes down, the number of customers in our resort will decline and it would affect our revenues since people are not willing to spend so much money especially for travelling during economic downturns.

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Thirdly, we should emphasize our country relations with particular country. Currently, we have great relations with China, Japan and South Korea and we can realize that a large portion of tourists come from those countries as well.

PART 2 THE BUSINESS OF MANAGING Mission Statement Our Paradise Island Resort will provide unique experiences in the region, an attractive landscape, excellent services and security for our customers. We will provide safe working environment, education and training, suitable salary plus bonuses and other benefits for the best employees. We will earn their trust by organizing regular financial transactions to our investors and make sure that those information are accurate. We will improve the quality of life of our local community and practice environmental friendly. Business Goals Our resort are setting three terms goals as follows: Short-term Goals: (less than 1year) 1. Increase our marketing strategy: we will try to advertise as much as possible to show that our resort is available and welcome for customers to visit. When customers visit our resort, we will make different surveys to learn what our customers need and satisfy the most. 2. Strengthen our relations with customer as well as our employees: we will build strong customer base by offer high quality services and amazing benefits to them. Also, we will uphold the turnover of our employee to a very low level by provide training, suitable salary plus great benefits to maintain effective workforce. Intermediate: (1-5 years) 1. Increase revenues to generate profits: we will increase our revenues to reach our long-term goals and generate more and more profits to expand our business and investment. 10

2. Adjust major changes to meet customers’ demands: throughout one-year experience in our business, we are now able to learn a lot from customers’ desires and adjust changes to meet their demands and therefore we can attract more customers into our resort. Long term goal: (5year and over) 1. Increase our investment: we will invest more into our business which would lead to expansion and at the same time we will also replace some old parts of our operations to a new one. 2. Increase prices by 5%: we will increase prices at our resort by 5% because our customers have already know and experience how good our services are but it will still maintain reasonable prices. In addition, we also have to increase our profits to cover up the costs. Management There are two levels of management in our resort, with 4 different types of managers as follows: •

General Manager

•

Operations Manager

•

Marketing and Advertising Manager

•

Accounting Manager

CEO and General Managers will be the co-owner of our resort. Organizational Chart Our resort will consist of two levels of management with sub-division of their employees that they would be responsible for. As business grows more further, more employees would be needed in our daily operations.

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Floor Plan

Raw Materials and Supplies Our resort will start from scratch, therefore, we have to build and purchase everything new. The first types of raw materials and supplies that we’ll need to run our business are building a new island, we’ll include a lot of new structure such: Hotel, Restaurant, Airstrip and port, Nightclub& bar, Golf club, Zoo& Theme park and solar power providing.

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Building an island resort: - Island building (900$/sq.m)…………………………............3,000sq.m= $ 2,700,000 -1 hotel building (250 rooms)…………………………………$ 2,000,000 -7 Bungalows (15,000$/per)…………………………………..$ 105,000 -7 Luxury Restaurants…………………………………………$ 700,000 -Airstrip and port………………………………………………$ 900,000 -Nightclub & bar………………………………………………$ 100,000 -Casino………………………………………………………...$ 400,000 -Golf club……………………………………………………...$ 500,000 -Zoo & theme park…………………………………………….$ 1,000,000 -Solar power providing & water supply………………….........$ 500,000 Total:……………………………………………………………………$ 8,905,000

Quality Assurance All employees will have responsibility to ensure quality, but we believe quality begin with the management team. The Operations manager is responsible for the host of the resort and the performance of the servers and security to treat the customer feel comfortable and safe. And the Marketing and Advertising manager is responsible for pleasing the customer. Also, the General manager will ensure that everything is done like the planning and train the entire employees. The entire management team will work to ensure that our resort have excellent services.

PART 3 PEOPLE IN ORGANIZATIONS Corporate Culture Our culture is reflected in our mission statement. We want prefect in every parts of our resort, and every employee must understand how to achieve this standard once they have their

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training. Every employee must have a commitment to pleasing the customer, both friendly and in the overall experience they will have once they are inside the resort. Our employees will be encouraged to improve the quality of the resort through their own suggestions and input. We are also committed to improving our community through participation in events that make our island a better place to live. Leadership Philosophy The decisions held within the business will take place only in the higher authorities of the business in which CEO and all the first-line manager meet up, held the discussion and make decisions. Employees and other subordinates will not involve in the decision-makings because their managers already held the discussions, thus they can bring out their subordinates’ concern, and it would be very difficult to have all the employees coming together and make the decisions at once plus it would be impossible to proceed because our business is very huge therefore our employees will be employ. Job Descriptions The job descriptions at the Paradise Island Resort will be as follows: • CEO will be responsible for monitoring the overall performances of the business as well as the effectiveness of each manager’s performance contributes to the business. Moreover, she will also has to report the business’ operation performances such as the progress, financial transactions, marketing, business’ operations compare to its competitors, so on and so forth to the investors. She will has to use all of his strategies and skills such as decision-making skill, conceptual skill, technical skill, human relation skill and timemanagement skills to bring forward the success of the business in the sense to maximize the business’ revenues, minimize the costs and get ahead of its competitors. • Accounting manager will be responsible for the financial transactions and the money circulations of the business. She will analyze and report the business’ revenues, expenses, 14

and eventually profits to the CEO in response to the business’ performance and immediately coordinate with CEO to find solutions for the business if financial crisis present. She will also monitor her subordinates, financial manager, in the above-mentioned performances. She will then responsible for the deposit of money into the bank, withdraw for use if necessary and interact closely with the bank for the financial records together with the contract agreements of the business regard to profit-and-risk shared among partners. • Operating manager will be responsible for the daily processes and operations of the business. He will has to ensure that the business is in order and stability since the resort is very huge, therefore everywhere ...