Detailed Business Plan for Cultural Retreat: Financials and Strategies

This business plan outlines the strategy for Cultural Retreat, a company designed to provide global travelers with a unique village experience, offering a blend of local culture and premium services. The plan includes a comprehensive market analysis, focusing on the tourism and travel industry, and identifies the target market as individuals seeking an escape from routine. A competitive analysis highlights the company's strengths, such as technological innovation, unique design, and specialized services. The business plan details the company's growth strategy, products, and services, including accommodation, village-themed food, and cultural experiences. Marketing and sales strategies involve premium pricing, online platforms, and promotional activities. Financial analysis includes a startup cost estimate, balance sheet, profit and loss forecast, and cash flow forecast, demonstrating the financial viability of the business. The plan emphasizes the importance of a well-defined business plan for startups and its role in attracting customers and investors.

Running head: BUSINESS PLAN
Business Plan
Name of the Student
Name of the University
Author’s Note

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Executive Summary
This current report has focused on the business plan of a company which is Cultural Retreat that
mainly provisions the global travellers along with providing them the lifestyle of local villagers.
The provision of different kind of premium services are provided to the customers which points
out the representation of the services to the travellers. Other aspects such as marketing, strategies
and financing have also been discussed in the study. Different type of financial statement have
been prepared which points out the estimated cost that would be required by the company to start
their business.

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Table of Contents
Introduction......................................................................................................................................3
Vision statement..............................................................................................................................3
Market analysis................................................................................................................................3
Competitive analysis........................................................................................................................4
Strategy............................................................................................................................................5
Products and services.......................................................................................................................5
Marketing and sales.........................................................................................................................6
Financial analysis.............................................................................................................................7
Conclusion.......................................................................................................................................8
References......................................................................................................................................10
Appendices....................................................................................................................................12

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Introduction
Business plan is type of written document which is important for an organisation as it
consist of business goals, methods by which it can be achieved along with the time frame by
which the work is required to be completed. In this study, Cultural Retreat have been considered
which is a type of business that serves customers along with travelling and tourism. The process
of providing the experience to the global travellers along with living and tasting great food is the
main focus of the company. The life like villagers and providing certain premium services is to
be provided to the travellers within their payment for the services. It also includes the analysis of
the market along with strategies and financial projection that would be beneficial for the
company.
Vision statement
The vision statement of the company is to provide a village experience to the global
travellers along with food and lodging. This enhances the local cultural mix along with the
premium services which are provided to the travellers.
Market analysis
The targeted market of the company is one of the most important part as it deals with the
area where the business activities is required to be performed for a start-up business. It is also
useful for the business as the people are not aware of the brand, image and the unique selling
proposition. This would be helpful in creating the goodwill of the brand which would help in
attracting more customers towards the company (Muzellec, Ronteau & Lambkin, 2015). The
tourism and travel industry have the high competition in the targeted market as it points out the
services that are provided to the customers. The target market of the company is to focus on the

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group of customers who are willing to have an experience of village life and willing to pay the
amount that would be required. The company has the main focuses on the customers who
requires a break from their daily routine and monotonous lifestyle along with expecting a free
lifestyle in the villages. Moreover, there are different people who are looking for a change and
belongs to certain business organisation. Market segmentation is required to be done which
highlights the different types of markets on which the company can operate their business (Singh
& Hess, 2017). It also includes the types of customers that act as the main source of income for
the company and growth of the company would also be highlighted.
Competitive analysis
The competitive analysis of Cultural Retreat includes several factors that are required to
be noticed and analysed for the enhancement of the business. The following are the competitive
advantage of the company which makes it stands out among its competitors.
Technological innovation – It is considered as the basic inclusion of Cultural Retreat as
most of the people have confident to use the digitalised version of the services such as booking
of tickets, reservation, ordering for food and others. Services such as booking of hotels, web
check-in are helpful for the company as they make the company different from its competitors
(Xiang, Magnini, & Fesenmaier, 2015). It also help the customers to access and avail the
services at a convenient way and makes it easier for the customers.
Unique design – The design of the company mainly attracts the customers as the
uniqueness stands out from the competitors. Cultural Retreat provides the village like feeling to
the customers along with the foods that are served to the tourist also consist of the village taste.
The design of the hotel are in such that attracts a lot of customers to their business and allows

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them to enjoy their stay in the hotels. Traditional reforms of the hotels and the localised area with
the design of the cultures makes it unique from the competitors.
Specialised services – The special services that are provided to the tourist includes the
cultural feel along with traditional essence which makes the company stands out from its
competitors. The luxurious services also includes the food which consist of traditional taste and
that attracts most of the customers to their company (Rapoport & Hult, 2017). Unique techniques
are being used for adopting the local culture and the message along with the service spa in
traditional style also attract lots of customers towards their business. It also includes the gift
shops and shopping services which are directly provided to the tourists.
Strategy
The growth strategy of the company that is Cultural Retreat is required to implement
certain strategies that would help in their overall development and enhance their business
activities. The vision of the company is required to be set out on making the framework on an
ongoing choice for the investment which would be beneficial for the business (Snihur, 2016).
The competition of the industry consist of tough competition which would be attract most of the
customers towards their business. The competitors of the company are making some of the
strategies that would be useful for their company but the strategies that are required to be
implemented would only help Cultural Retreat. The theme of the village area is also beneficial
for the business as it attracts tourists who are attracted toward the village theme and village food.
Products and services
The main products and services that would be provided by the company to the tourists are
the accommodation services, food, which includes the tents and cottages in village area along

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with the village themed food. This might be attractive towards the customers and easy
approachable makes it easier for availing the products and services that are offered by the
company (Smaliukiene, Chi-Shiun & Sizovaite, 2015). The services that would be enjoyed by
the customers include day out in the local village and enjoy the culture and heritage of the area.
The services also includes the day out in the local village along with the lifestyle which would be
offered to the customers. The foods that would be offered to the tourist are mainly includes the
village taste which highlights the effect of cultures. Services such as booking of hotels, web
check-in are helpful for the company as they make the company different from its competitors
(Öz, 2015). Cultural Retreat provides the village like feeling to the customers along with the
foods that are served to the tourist also consist of the village taste. Traditional reforms of the
hotels and the localised area with the design of the cultures makes it unique from the
competitors. The luxurious services also includes the food which consist of traditional taste and
that attracts most of the customers to their company. It also includes the gift shops and shopping
services which are directly provided to the tourists (Wickham & Vecchi, 2016). Therefore, these
are the products and services that would be provided by Cultural Retreat to the customers in their
business activities.
Marketing and sales
Marketing and sales includes the strategies that is required to be included with the
products and services that are provided to the customers. This help the company in creating a
better brand in their targeted market along with enhancing their business for longer period of
time (Kazeminia, Del Chiappa & Jafari, 2015). These includes the strategies for the product,
pricing, placing and promotional activities which are required to be carried out by the business.
The pricing strategies also makes in important decision on the process of marketing and sales

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which points out the major responsible factor for Cultural Retreat. The company is required to
keep the price at premium and medium as per the choice of preference of the customers. As the
company is offering the premium services there the customers would also enjoy the premium
services that are offered by the company (Silajdžić, Kurtagić, & Vučijak, 2015). This also impact
on the competitor as the company only offered the premium segment services which might be
provided by other companies.
Cultural Retreat provides the village like feeling to the customers along with the foods
that are served to the tourist also consist of the village taste. The luxurious services also includes
the food which consist of traditional taste and that attracts most of the customers to their
company (Kamboj & Rahman, 2017). The inclusion of the premium services is required to be
associated with the online platform and providing them with cultural experiences. The
experience of the existing customers is required to be shared with the new customers along with
the feedbacks for the reviews that assist the potential customers for increasing their buying
decision process. Promotional strategies is also adopted by the company which highlights the
brand name along with the brand recognition (Xiang et al., 2015). It also includes the online
platform by which the company can promote their brands which includes positing about the
company on social media and advertising about the products and services that are offered by the
company.
Financial analysis
Financial analysis of the company is one of the most important part for the business as it
consist of the funds that would be required for starting up the business. There are different
sources through which the company would allocate the funds and it would help in running their
business activities (Mohseni et al., 2018). Cultural Retreat allocates their funds from

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combination of debt financing along with taking loans from financial institutions. The
entrepreneur also investment some personal funds in the company for starting it up along with
loans from the bank. It can be seen that bank loans are considered as one of the trusted source of
funds for the company along with providing advantages for the company in future years. The
business plan is required to be considered which provides the option of customisation for
repayment option and for this reason bank loan is considered as one of the better sources of
finance for the company that is Cultural Retreat.
On the other hand, Cultural Retreat also aims to have the partnership along with different
sources of funds on the similar field of hospitality. The following are the financial statement that
are being prepared for analysing the sources of funds and other finance that are related to the
business (Kavoura & Kefallonitis, 2019). The start-up cost of the company have been evaluated
around $ 74000 which would be required during initiation of the business. Moreover, balance
sheet have been prepared for Cultural Retreat which shows the amount of assets and liabilities
would be associated with the business. It also includes the forecast of profit and loss which
mainly points out the company increases their profit with increase in time. At the end, the cash
flow forecast have been prepared which highlights the positive trend for operating within the
business (Refer to Appendix 1).
Conclusion
The above study can be concluded by highlighting the important of a business plan for
any kind of start-up business. This study focuses on the Cultural Retreat which a business that
provides cultural experience to the global travellers. The tourism and travel industry have the
high competition in the targeted market as it points out the services that are provided to the
customers. Market segmentation is required to be done which highlights the different types of

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markets on which the company can operate their business. The design of the hotel are in such
that attracts a lot of customers to their business and allows them to enjoy their stay in the hotels.
The competitors of the company are making some of the strategies that would be useful for their
company but the strategies that are required to be implemented would only help Cultural Retreat.
The services also includes the day out in the local village along with the lifestyle which would be
offered to the customers. It also includes the gift shops and shopping services which are directly
provided to the tourists. The pricing strategies also makes in important decision on the process of
marketing and sales which points out the major responsible factor for Cultural Retreat. The
financial part of the business includes the estimated profit and loss, start-up cost, balance sheet
and cash flow which points out the finances within the business.

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References
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communities. Journal of Hospitality and Tourism Technology.
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industry. In Advanced Methodologies and Technologies in Digital Marketing and
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strategies. Journal of Travel Research, 54(1), 80-93.
Mohseni, S., Jayashree, S., Rezaei, S., Kasim, A., & Okumus, F. (2018). Attracting tourists to
travel companies’ websites: the structural relationship between website brand, personal
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model lifecycle perspective. Industrial Marketing Management, 45, 139-150.
Öz, M. (2015). Social media utilization of tourists for travel-related purposes. International
Journal of Contemporary Hospitality Management.
Rapoport, E., & Hult, A. (2017). The travelling business of sustainable urbanism: International
consultants as norm-setters. Environment and Planning A: Economy and Space, 49(8),
1779-1796.

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Silajdžić, I., Kurtagić, S. M., & Vučijak, B. (2015). Green entrepreneurship in transition
economies: a case study of Bosnia and Herzegovina. Journal of Cleaner Production, 88,
376-384.
Singh, A., & Hess, T. (2017). How Chief Digital Officers promote the digital transformation of
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business: the case of global travel services. Journal of Business Economics and
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Wickham, J., & Vecchi, A. (2016). Hierarchies in the air: varieties of business air travel.
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