Sample
Business
Plan
| Market
Analysis
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EXTRAVAGANT LUXURY BED &
BREAKFAST, CONFERENCE CENTRE & RESTAURANT Sample Business Plan Current Page: 10 Business plan outline Page 1 2 3 4 5 6 7 8 9 10 . . . » Next Page |
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| International
Guests/
Customers |
Needs
and
Preferences |
| Sportsmen/
women |
The
segment
comprises
of
soccer
teams
or groups as well as other athletic
teams. The segment usually prefers to set up a camp on the southern
higher veld, where it is hot in order to create a competitive edge in
other parts of the world. This segment also usually requires a quiet
environment, high class accommodation, gym facilities or a nearby
training station and catering services. Most soccer or athletic groups
are sponsored by the government or private companies that make an
upfront payment for their required services. The profitability and
competition for this segment is relatively high and requires a business
to be very strategic in its approaches. |
| Independent
Young
Couples
and
Families |
This
market
mainly
comprises
of
young
couples with small families that need
a break from their busy jobs and schedules in the city. This market
segment normally has a preference for beautiful self catering
apartments with nearby shopping outlets. They enjoy spot visits
and eating out some nights and generally just having fun. This can be a
good target as their trip expenditure (cumulatively) is relatively high. |
| Well
Off
Homely
Couples |
This
market
segment
is
made
up
of couples with bigger families that need a
number of days out with the family. Although self catering facilities
are preferred, holiday and timeshare flats are also used by a large
proportion of this segment which may account for the high level
intra-city travel that this group undertakes. |
| Striving
Families
|
This
group
is
made
up
of
low income groups (mostly laborers) who are
interested in group picnics. This segment prefers budget or ‘group’
accommodation facilities and self catering services. |
| Golden
Active/
Old
Families |
This
segment
is
made
up
of
old and retired individuals who cherish spending
their benefits revisiting childhood sites with their grandchildren when
they are on school holidays. The people in this segment usually plan
their vacations at least two months in advance, and their spending
power is limited in some cases as a majority of them are pensioners.
This can be a difficult segment to cater for as they need of very
affordable, quiet and isolated atmosphere set ups in some cases |
| Local
Guests/
Customers |
Needs and Preferences |
| Government
and
Local
Municipalities
|
Customers
from
the
government
departments
and
local Municipality make use of
accommodation services as individuals or groups. These customers mostly
travel on official duties and are therefore sponsored by their
respective departments in the government. The clients in this segment
usually need credit facilities, a quiet but relaxing setup with
standard accommodation and conference facilities. It is difficult to
get contracts from this segment due to the tendering procedures
involved (in some cases). This segment is known for delayed credit
settlement which eventually affects the liquidity position of the
business, thus making this segment risky to rely. However, good
business can sometime be derived from this segment as it is in favor of
supporting small to medium sized businesses. |
| Academic
Professionals |
This
group
consists
of
teachers,
lecturers,
research officials and others.
It also includes college and university students representing their
appropriate institutions from outside or from within the city. These
are expected to be government or privately sponsored individuals/
groups. This segment usually requires budget accommodation as well as
conference facilities with ample capacity. Profitability can be high in
this segment, but can be restricted by the academic calendar as well as
the budgets of academic institutions. The majority of the customers in
the segment usually opt to pay up-front. This is good thing for any
small to medium sized business entity. The competition for this segment
is not as high as that for the government segment discussed in the
previous segment. |
| Corporate
Guests
|
This
segment
will
be
made
up
of group customers from the corporate world
such as banks and other Business institutions. Other customers in this
segment will come from private businesses such as SMMEs. The customers
in this segment will either be self sponsored or will be sponsored by
their respective companies. This proves to be a good market as they are
captured and serviced as a group which will eventually reduce the cost
of operation. The customers in this segment are usually very good
payers, which reduces the risks. |
| Individuals
|
Local
customers
traveling
from
outside
the
district to visit the city on
business duties usually make up this segment. They include;
researchers, sales representatives, religious leaders and many more.
Most of the customers in this segment are self sponsored. The other
group consists of social visitors with the motive of touring the city.
The market segment can be considered to be rather risky as the needs
and preferences of individuals are different, thus making them a
difficulty segment to target. |
| General
Groups
|
This
segment
is
made
up
of
group customers from institutions such as
churches, clubs and other Non Governmental Organizations. The groups
are local or international. They usually travel using donated funds or
saved money. The profits from this segment can be rather moderate. |
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