- 1 INTRODUCTION:
- 2 OBJECTIVES OF BUSINESS PLAN.
- 3 NEEDS OF A BUSINESS PLAN
- 4 IMPORTANCE
- 5 BUSINESS OBJECTIVE
- 6 BUSINESS DESCRIPTION:
- 7 UNIQUE SELLING PROPORTION:
- 8 EXECUTIVE SUMMARY
- 9 MARKET PLAN
- 10 DIVERSE COMPETENCY
- 11 STRATEGIES AGAINST THE COMPETITORS.
- 12 TARGET MARKET
- 13 ANALYZING THE COMPETITORS:
- 14 PROMOTIONAL STRATEGIES:
- 15 FINANCIAL SOURCES
- 16 CASH FLOW
- 17 FINDING
- 18 CONCLUSION
- 19 CERTIFICATE
- 20 DECLARATION
- 21 ACKNOWLEDGMENT
A business plan is a formal statement of business goals, resources they have sustainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals.
A business plan may target changes perception and branding by the customers, clients, taxpayers, or larger community. When the existing business is to assume a major change or when planning a new venture, a 3 to 5 years business plan is required, since investors will look for their instrument return to that time frame.
OBJECTIVES OF BUSINESS PLAN.
- To define what the business plan is, and who prepares it.
- To understand the scope and value of the business plan to investors, lenders, employees, suppliers, and customers.
- Identify Information needs and sources for each critical section of the business plan.
- To prevent examples and a step-by-step explanation of the business plan.
- To prevent helpful questions for the entrepreneurs at each stage of the planning process.
- Company growth and increased profitability.
- To define the reason why a business plan is necessary.
- Identify the actual strengths and weaknesses of the plan.
- To give direction to the vision formulated by the govt.
- To persuade others to join the business.
NEEDS OF A BUSINESS PLAN
- Before that, you are serious about your business.
- Establish business milestones.
- Set specific objectives for managers.
- Share your strategy, priorities, and specific action points with your power, partners, or significant other.
- Decide whether or not to rent new space.
- Decide whether you need new auctions, how many, and whether to buy or lease them.
- Share and explain business objectives with your management team, employees, and new rules.
- Valuation of the business for formal transactions related to company investors.
There’s a significant role in hotels playing.
In this modern world, where people give due Importance to luxury and comforts.
A hotel that provides all the customer’s satisfaction and comfort can have good and flourishing growth in India.
The most attractive plans of location, efficient customer service, with an allocated transport facility. Foods, clothes, and primary activities in one of a major port to get customer leaves of wealthy living to suited for such a hotel business.
The main target will be satisfying our customers though they are Inbound or Outbound tourists. But primarily the business aim will be adding value, and in a particular sector, this will involve making a profit.
Thus, there are some objectives and aims for the business:
Get 10% Market Share by attracting tourists with more facilities and providing better services.
Creating Jobs, more people will need to run the business. By three people will get employed themselves.
I am opening more branches. As a new entrant in business, the first step aimed at company profit and work is aimed at expanding the business to several states.
Increase 80% of profit in coming each year: Any business takes one year to get the market position. Thus, the main determinant is to earn profit/ profit maximization.
So, as a business motive, the target is the customer, to satisfy them, providing with all types of facilities, what they need, and make a new image for the Travel & Tourism of the country.
Lawn De VinylVinsl is a business proportion as a tourist hotel for all types of International and National tourism, along with all ages and all types of people. The hotel offers to promote a better place to stay and have a good time. This hotel will take place in various branches, where the headed location would be in Delhi. The company offers thirteen luxury hotels, with 3600 rooms in twelve hotels In India. The list includes The Lawn De Vinsl New Delhi. The Lawn De Vinsl Mumbai, The Lawn De Vinsl Grand Palace Srinagar, The Lawn De Vinsl Golf & Spa Resort Goa.
Lawn De Vinsl, Enclave Tourist Hotel: Tourist come from one destination to another to spend their holiday, but for those who are unaware of the name, we have taken a mover advantage of the hotel is an Enclave Tourist Hotel; so, tourist when they will in this hotel, from that time they don’t have to go outside for their necessary things as want or they need which is Important for them.
For Instance, Coffee Shop, Clothing Shop, Food Shop, Beauty Parlors, Cultural Shows, Pools, Spa, and so on are a part of service to people. So, if any customer is in need, they can do it inside of this hotel, so It will bring extra income.
As a graph, we can predict yearly, how many tourists we can attract them in our hotel, in 2018 we predict that we will have 10,000 tourists as our guest, next following year we will have 17,000 and in 2025 hopefully, we will have 2,05,000 guests in our hotel.
When the hotel business is reputed to the customer, then after the management meeting of the hotel, we will provide a Tour package to our customer. It will be travel made tourism. Tourists, how they want to visit, and plans they want to visit will be available for them.
UNIQUE SELLING PROPORTION:
Before we want to sell our service to the customer, we have to sell over self on them. It is especially important when our product or service is likely similar to others around the business. So, Lawn De Vinsl has to be one-of-a-kind. The key to any effective selling is an advertising and better marketing, known as Unique Selling Proportion.
As a customer, when they book any hotel, they are much more unlikely to be aware of place and service the hotel is providing. Our hotels give customers to check everything before they book them. The hotel involves enclave tourism. Whereby the necessities of the customer are satisfied with their door-step. So, it is expected to attract more customers. So, as a new business, our unique selling product will be online selling. With as-if anyone books our hotel online, they will get a 55% discount off food, along with the unique selling as well.
Any Much Zero:
The Lawn De Vinsl Aviation: The concept of private luxury architecture service through the Lawn De Vinsl Aviation is specially designed for dispersity guests. This service adds to the luxury & style quotient to the customer traveling.
Twenty-four hours: Need a ride? Business or leisure, our 24/7 transfer service will take you to your destination.
Located at the lobby level, the AUM shop has adornment of fashion accessories, semi-precious jewels, herbal products, books, a wide variety of ethnic clothes, silk, Kashmiri shawls, aromatic and decorative candles, handicrafts and more.
Our service is there to deliver everything the customer wants. Should you want anything? From a perfectly Ironed business suit to last-minute traveling plan, or maybe a timely wake-up and bed tea, no wish is unattainable for us, to serve the customer.
All-Weather Indoor Pool: The indoor swimming pool is temperature-controlled to take care of your comfort while swimming. The sumptuous property, along with their hospitality, takes your luxury quotient higher.
24-Hours: For relaxed dining experience within the comfort of the costumer’s room, the 24-hours in-room dining service with a multi-cuisine menu is always a pleasant choice.
CONCIERGE SERVICE: Helps with arranging a tour, transportation, air/rail ticket, outlet shopping, luggage service, helps to book a room for other hotels in different through lines of India.
Heritage Palace: The luxury hotel is the former palace residence of the Maharajas, and has been carefully restored to keep the glory alive. The grand structure has received prominent quests, and mainly stands as the prestige of history,
Rejuve- The Spa: The Lawn De Vinsl Group’s signature award-winning Rejuve – The spa- provides complete holistic experience encompassing aroma, ayurvedic, herbal, and natural therapies, patented color healing, and yoga.
Indian Travel and Tourism business is being developed day by day. But internationally it is not much developing, because of a lack of communication system, better accommodation for inbound tourist and experience level travel agencies and travel groups. But in spite of having these problems, the Indian Tourism Board is working hard to develop its Tourism sites. Delhi is the capital of India.
The business idea is to build a Tourist Based Hotel in the heart of the country; the business will be based on inbound tourism to build better accommodation. It will be an Enclave hotel for all types of tourists and native customers.
Employee Satisfaction: Employees working in this organization will get holiday pay, even though every year they will get better promotions based on their performances, making a better working environment for them.
Higher-customer Service: For the business, the customer is the king; we make sure about the customer service. The management makes sure/ensures that the hotel proves to provide the satisfactory consent of the customer. Whatever they are asking, providing them with those, as soon as possible.
For getting more popularity and a better position, we need to have some business mission. Without mission and target, it’s impossible to reach the goal.
- HIGHER CUSTOMER SERVICE
- STATE-OF-THE ART LIVING
- RAPID ADVANCEMENT IN TECHNOLOGY
- EMPLOYEE SATISFACTION
State-of-the-Art of Living: People from all over the world visit rapidly, to spend their holiday or leisure time. Lawn De Vinsl will give the tourist a heavenly view of their travelers by providing the natural beauty of Delhi’s.
Rapid Advancement in Technology: In business, we have to force competitors and have to prove our uniqueness than others, for that we will take more responsibilities in technology.
Such as: In front of the hotel, there’ll be no guards, it ‘ll be an electronic system. Other, while travelers will enter their room, the room door will open by itself; they would also be comfortable in wing remotes for watching lights/fans on / off.
Pricing Strategies: For the development of the service, we have to set a reasonable price. For setting a proper pricing policy, we have considered some important factors.
- Setting up the pricing objectives: We have decided to take the company into a better position by the market offering. The maximizing market is one of our intentions. In our perspective, higher sales volume will certainly lower our production cost and will be helpful in creating profit for the long run. This lower price strategy must be supportive of capturing the maximum market share.
- Establishing Demand: Each price will direct to different levels of requirements and, at the same time, will have a diverse impact on companies marketing goals.
- Estimation of costs: We have already settled a price for the service, and this price will be able to cover the cost of production, distribution, and selling the products. This also includes a fair return from its effort and risk.
- For providing the service from ‘Lawn De Vinsl,’ there ‘ll be two types of costs included:
The estimated fixed cost for our service per person is 500 BTD each; after charging all of this, we can get 1200 each from customers.
A new kind of hotel business is going to be introduced and developed in the market. Necessary information has been gathered through In-depth interviews. A survey has been conducted to get all the required information from the customers about the view, ideas, demands, and needs.
For better business, we did some market research, those are:
- Gathering Information about competitors: When we start our business in Delhi, firstly, we’ll gather information about other tour operating services. Types of services they are providing. Facilities for international tourists. How often they are visiting any places.
- Market Competition. Before taking the start in business, we will take an overview of the selected area, about the business competition, the location we choose, it will be beneficial for our business, about the communication system and transport system of that place.
- Data Analyze: We will be new entrant of travel and tourism business before we start our business, we analyze all the characters the spot of land. Such as which place is more attractive, location, and so on.
There is a huge chance that all these established companies can attempt to compete with us by introducing new hotel businesses in the market. But our business is new to the market. But our business can take this opportunity to gain a competitive advantage. If other companies want to introduce some new or similar products like us. They will some time: In the meantime, we can use all the opportunities to gain competitive advantage and create a monopoly business.
It is unknown to them and the tenure they will get from our hotel such as: providing customers with travel guides, make a tour for the customer as they want it will be a great chance for us to make better compete with others.
STRATEGIES AGAINST THE COMPETITORS.
- High level of income to create brand loyalty.
- Fare and responsible price.
- I am providing the best Quality Service.
- Better promotion activities.
- Maintaining corporate social responsibilities.
- I am building better relationships with customers.
The target market includes evaluating each market section desirability and checking one or more segments to enter. After investigation and analyzing all the segments, the target market has been determined by the category of the product. The target consumers for Lawn De Vinsl are people, health-aware individuals, sports personalities, and tourists.
- It 500 pounds for each person.
- It 2,500 pounds for family.
- It 4,000 pounds for Inbound Tourist
- It 3,500 pounds For Enclave Tourism Service.
- It 2000 pounds for Tailor-made Service (depending on customer how they want)
In comparison won the price and service rendered, it is obvious that the service provided is better in value. Thus, the price we are charging is fair enough or justified.
ANALYZING THE COMPETITORS:
There are some reputed Hotel Business in Delhi. Some of them are doing this business more than 20-30yrs. Some of them are the International hotel business. But none of them are providing Enclave Tourism Service or Customer Care Service, while ‘Lawn De Vinsl’ is providing them.
Promotional activities have an important role in acquiring a strong position. We need to care and implement four of the marketing promotion tools to achieve maximum market share.
- Advertising: Basically, we will focus on newspaper advertisements, TV commercials, Social media, and the Internet as well. Because reaching potential customers is much easier through these media. We have also decided to put the advertisement for ‘Lawn De Vinsl’ on the neon sign and the billboard in some busiest points of the city.
- Personal Selling: ln care of Hotel Business such as ‘Lawn De Vinsl’ selling is considered not that effective. Thus, we try to encourage convenience store employees to sell our product, and at the same time, we will ask them about the feature of our product while the customer is Interacted to buy some packages from them. Regardless, this will help us boost our sales.
- Promotional Tools: We have decided to implement come promotional tools such as distributing some free samples on the street and reducing the price during the trial period. This will help the customer to be familiar with our products.
Public relations: We have some Public relations activities in the near future, such as seminars, cultural functions, and sporting events, to improve public relations.
Customer Service: We will try to provide but service to our valuable customer. We try to interact with customers about their satisfaction. Any suggestions, ideas, advice is always welcomed. If any of our services are deleted, we will be happy to change them.
Personal Saving. The first source of finance will be personal savings. We can invest money directly with our grating, so pleading for another source.
We are waving capital. When we start making a profit, we our profit to make it large, as it is risk-free.
We are selling Trust. In terms of funding for a business, when we need a huge amount of money that time personal such can be sold, to make capital for the business and that will help to provide quick funding without any hassle fortune.
- Mortgage: Mortgage has received a contract that money. The loan is secured on property, and the party buying it will not own the property until fully paid.
- Learn from Bank. Normally loans from the bank have a repay over a set number of years with interest. It can be short long-term, as well.
- Retained Profit: Profit we make from business, that profit we re-invest in the business. Sometimes it is used to buy and pay wages on a weekly basis.
- Grants: There is one type of money that will be given to the firm by the government. This capital is not to be repaid.
- Venture Capital: While a large amount of money is required, shares will be sold. Some Investors will buy these shares and demand for profit as well. The advantages are that I can get money early whenever I want.
Cash Balance B/FWD
Food & Beverages
Bank Loan Repayment
Equipment for Room
Telephone & Internet
- By analyzing the project, I could learn that, the brands, the customer tastes, preferences, and the economic condition are been changed.
- There are to be made some changes that can attract customers, increase the preference and option of our clients.
- Services and products with high quality and worldwide preference are to be served to our customers.
- Unique Selling qualities must be selected to compete with other competitors providing/availing their customers with a competitive mentality.
- Thus, the main characters which can attract the customers, 24-hour service, world-class products, branded items are to be implemented to boost-up the sales.
The expansion/ flourishment shows that the hotel business exploring all aspects of growth. The company needs to react as well as a thorough understanding of customer needs and demand. Today, various well-developed methods are being used in sales promotion and popularization of business, and we compete with them to develop a well-settled reputation of our business among the customers.
Thus, there it can be concluded that new methods, new techniques, new sales promotion strategies, and new services are to be indulged in the firm to support the expansion, maintain, and reputation.
This is to certify that the project is an authentic record of the work done by SNEHA.S, class XII.D during 2017-2018 towards the partial fulfillment of the AISSCE course prescribed by the Central Board of Secondary Education (CBSE). The student has done the project with his/her effort & with the guidance of the concerned teacher.
I, SNEHA.S do at this moment declare that the project entitled “BUSINESS PLAN” is a bonafide record of the project work done by me and was under the guidance of Mrs. SANILA MANOJ, also declare this project or any part of it has not been submitted by me fully or partially for any other examination before.
Date: 16th November 2017
Many people helped me through their support and guidance for the successful completion of this project.
First of all, I thank the Almighty God for his goodness and mercy in giving me the strength to complete this project.
I, at this moment, express my abundant and sincere gratitude to Mrs. SANILA MANOJ, Department of Commerce, Dr. GR PS, Neyyattinkara for her valuable guidance, constant encouragement, and creative suggestions rendered during this project.
I thank SISTER MYTHILI (Managing Trustee) Mrs. GOURI NAIR (Senior Principal) Mr. MARIA JOE JAGADHESH (Principal) for providing me with all the facilities and also for the constant inspiration and encouragement for successful completion of this project.
I offer my deepest gratitude to my family members, whose prayers and blessings guided me for the successful completion of this project. I also owe my gratitude to my classmates, whose support was inevitable for the completion of the project.