Perfect Fun Centre: Business Plan for Children's Entertainment Resort

The report outlines a business plan for the Perfect Fun Centre, a children's entertainment resort designed to provide indoor activities and social opportunities for children and teens in Hertfordshire, UK. The plan includes an introduction to entrepreneurial development, identifying a market...Read More

DEVELOPMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
Identification of problem.............................................................................................................3
IDEA FORMATION.......................................................................................................................3
Market Research & Analysis......................................................................................................6
Problem present in market..........................................................................................................6
Solutions......................................................................................................................................7
Customer Segmentation..............................................................................................................9
VENTURE DEVELOPMENT........................................................................................................9
CONCLUSION..............................................................................................................................15
REFLECTION...............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Entrepreneurial development refers to the process of organising, developing and
managing a new business by bringing some new or innovative idea. It generally depict the
capability of an individual who take up all the risk by setting up new venture in order to make
profit (Amaka Cordelia, 2018). This project is based on an idea of developing a resort named as
Perfect fun centre which is basically formed for children and teen in order to provide a place
where they can have fun by performing in-door activities and get socialised for entertainment
purpose. This idea has been finalised after analysing the market requirement of customers in this
regard as there are only 28 such institutions are available in Hertfordshire city which offer
limited services (Play areas, 2019). Current report includes analysis of problem along with the
proper solutions to overcome those issues
Identification of problem
Today, parents are more conscious about provide a healthy lifestyle to their children by
involving them in several physical activities which support in promoting good physic. But the
main issue is that in UK there is very few such places that offer service for in-door and out-door
activities of children. This is the main issue in Hertfordshire city and in order to resolve this it
has been decided to setup a place where these services are available to children for their physical
and mental development (Higgins and et. al., 2019). Being a CEO it has been decided to set up a
resort that provide children's an opportunity to entertain themselves by performing several
curriculum activities and sharpen up their skills for future development.
IDEA FORMATION
Entrepreneurial development plays a crucial role within the growth and development of a
country by setting up new business with unique idea that support in improving the living
standard of people by fulfilling the need and demand of society. After analysing the market an
opportunity has been determine which is related with the scope of institutions or club that
facilitate services related with curriculum activities. So to avail opportunity it has been decided
to design an area for children where their would be numerous of equipments and tools that they
can use to play games or for performing several physical activities.
This would be done by setting up a resort for children which is a kind of entertainment
centre named as Perfect fun centre where there are number of sections for playing games and

performing several curricula activities such as Karaoke, Bowling, dancing, singing, playrooms
etc. Along with all these services it provide an environment which is safer and doesn't have any
type of accidental risk that may lead to children injury due to any of resort's equipment. But
before working over the development of resort it is very essential to deeply analyse forces or
factors that may affect the business in order to avoid any sort of future risk that may hamper the
practices performed by this resort (Jha, 2019). In order to determine this porter's five force model
can be used which help in determining the viability of business idea on the basis of industrial
capability along with several threat and opportunity present in industry that help in improving
this business idea for best outcome. From this information it would be easier to determine the
strength of this resort business and weakness which are required to improve. The porter's five
force model is explained below:
 Competition within the industry:- This sections focuses toward determining the
competition present in industry that may create issues for the business and affect future
practices. For Perfect fun centre resort the competitors risk is lower as there are very few
places present in market which provide such services. This is because there is a business
gap present in market as options are limited and services provided by these resorts as well
as playground are not as per requirement of children which parents see usually while
taking them over such places. This is a greatest strength for Perfect fun centre resort as it
work toward developing a place that consists of various sections which offer a range of
services for children growth and development. This includes bowling, Karaoke, Bowling,
dancing, playrooms, snow centre, fitness section etc. which help in sharpening up the
skills and talent of children at early age. With the help of this it also get a greatest
opportunities to attract large number of customers as they get numerous of activities
section at one place which is a positive side of Perfect fun centre resort.
 Threat of new entrant:- This sections work toward analysing the number of potential
player that can enter into the industry with similar but more valuable services and affect
the business operations of an existing organisation. The threat of new entrant in this area
is relatively higher as the industry in UK is not much competitive and existing player
which offer similar services are only offering limited services that are not fulfilling the
demand of parents (Nwanekezie and Onyiro, 2018). Hence, new businesses with
addition services can be easily acceptable by customer base. Therefore the risk of new

entrant is relatively higher for the Perfect fun centre resort which can affect its
profitability and market share in future. In order to overcome this threat it must focusses
toward adopting the high quality of services to form up a base of loyal customers so that
it can maintain a market share of loyal and regular customer.
 Bargaining power of buyer:- It focuses toward determine the ability of customer to
drive up the prices of product or services down which an organisation is currently
offering. For Perfect fun centre resort the bargaining power of buyers is relatively lower
because it come up with numerous of option regarding children's in-door as well as out-
door activity need. The other similar resort present in UK and specially in area i.e. Hemel
Hempstead is relatively lower and offer limited services. This is a greater opportunity for
Perfect fun centre resort as they can charge higher from its customer for the number of
options they are providing within their resort. This help it in earning higher revenue from
the business by offering larger number of options and high quality services.
 Bargaining power of suppliers:- It mainly focuses toward determining the power that
supplier have to bargain over their transactions performed with a business. This force is
mainly get affected by number of supplier, key input of goods or services, uniqueness in
offering and switching cost of company (Piao and Ma, 2018). The bargaining power of
suppliers in case of Perfect fun centre resort is relatively higher as currently supplier are
offering raw material for limited services only and Perfect fun centre resort requires more
things to offer some additional services. Because of this very few suppliers are available
in front of Perfect fun centre resort that offer required material as a result of which
bargaining power of supplier is relatively higher. This is the biggest weakness of Perfect
fun centre resort as there are very few suppliers available in front it and because of which
they have to pay as per the demand of supplier for getting their required material.
 Threat of substitute product:- This section includes a analysis of substitute product that
may be seen in market as an alternative of company's services. In case of Perfect fun
centre resort the threat of substitute product is moderate because educational institutes
also try to involve other curriculum activities in their courses for mental as well as
physical development of students (Ye, Zheng and Tu, 2018).. If this section would get
increase in educational institutions then this would act as a substitute of services offered

by Perfect fun centre resort. This would be a threat that can affect the performance of
resort in its future practices.
From the analysis of Porter's five force model several opportunities has been determine
which depict that the business idea of this resort is viable and also help in achieving market
sustainability. It includes competition is very low within the industry that help in achieving
sustainability at marketplace (Quak, 2018). In addition to this Perfect Fun centre is also offering
a range of services which are not available at all the other place which offer children in door
activity related services. This will support resort in earning higher amount of profit as the
customers are getting more option at one place only which provide it a chance to demand higher
for services that in turn help in earning more revenue. Hence this business plan is having
financial viability that help in earning higher revenue.
Market Research & Analysis
The industrial analysis help in determining that attractiveness of business idea that
support in determining the future success of the project. From porter's five force model it has
been identified that this business plan has greater industrial attractiveness and will be able to get
stability in industry. But apart from this it is very essential to analyse the several factors present
in external environment that may affect the business practices of Perfect Fun Centre in term of
future perspectives. So in order to determine this risk market analysis has been performed over
external factors which are mentioned below:
Problem present in market
From the market analysis several problem as well as risk has been analysed that may be
faced by Perfect Fun centre in future. These are explained below:
 Financial error:- This would be consider to the one of the major risk factor that can be
faced by perfect Fun Centre in future while operating its business. This is because there
are number of equipments required by this resort in order to offer additional services to
its customers. It require huge amount of investment and in case when the expected visit
of customer would be more then their actual visit then it leads to minimum amount of
revenue earned by resort (Rahmadani, Suwatno and Machmud, 2018). At that time the
cost of repair or bringing addition equipment for providing services will be beard by
resort that leads to loss or financial error. Hence this would consider to be one of the

major potential risk that may be faced by resort in future and affect its business practices
and performance at large.
 Alternative options available:- Another risk that could be seen after the development of
this resort is minimum lack of customer stability. This can be happen because several
institutes as well as universities are present that also focuses toward involving physical
activities along with the course of students to work toward providing both physical as
well as mental development of a child (Sumpter, Wardhani and Priyanto, 2019). This
may result into greater risk as parents trust more over schools as well as colleges for
getting their child involve in several curriculum activities despite of trusting over any
other resort or institute to which they are not familiar. This risk is mainly due to
increasing crime toward the harresment and exploitation of children. It is consider to be
one of the major risk that may affect the profitability and sustainability of Perfect fun
club.
 Customer in-attractiveness:- The Perfect Fun Club may also face an issues of
decreasing the interest of customers toward the services offered by this resort. This is
because the demand of customer not always remain same and in addition to there are
number of alternatives launches in market on regular bases. These are the two major
factors which leads to in-attractiveness of services that are currently offered by a
company if not improvement on regular bases as per the requirement of customers. It
could be a major risk for Perfect Fun Club as this will leads to decrease in customer base
that further reduce the organisational profitability.
Solutions
In order to overcome the future risk as well as issues that have been determined from
market analyses following measures can be consider:-
RISK CONTIGENCY PLAN MITIGATION PLAN
Financial error This is one of the major risk
that may be faced by Perfect
Fun Centre. So in order to over
come this Perfect Fun Centre
must focuses toward bringing
In order tackle this situation,
Perfect Fun Centre must
focuses toward attracting more
and more investors by
presenting an idea of future

low budget equipment at initial
stage and then gradually rise it
as per the customer visit and
their demand. This help in
reducing the cost of business at
initial stage.
development of children in
front of them. By adding
investors in business Perfect
Fun Resort will be able to
minimise the risk of financial
error for future.
Alternative options available For avoiding the risk of
switching among customers,
Perfect Fun Centre must
focuses creating more value in
front of customers. For this it
can call experts to provide
training to children for
improving their skills and
talent that help in forming up
future career development
pathway (Tole, Faber and
Osorio Prieto, 2018). In
addition to this it also provide
a place where children can stay
with their parents while
enjoying their time within
resort that help in reducing
their concern of child
exploitation at new place as
parents can stay with their
child.
In order to mitigate this risk
Perfect Fun centre can connect
its curriculum activities with
the future benefit as well as
growth of children. Fro
instance after providing
training to children in singing,
dancing or any other game
they focuses toward providing
them an opportunity to fight
competition and create their
own path of career growth at
earlier their earlier stage of
development.
Customer in-attractiveness For minimising the risk of
customer in-attractiveness for
current period of time, it must
In order to eliminate the risk
of customer in attractivenesses
for future perspective, Perfect

focuses toward providing
discount or some additional
benefit over their services.
This includes providing some
educational benefit or learning
course options to children in
free of cost by organising it in
regular interval (Yang, Chung
and Lee, 2018). This help in
increasing the customer
attractiveness toward resort
services.
Fun Centre focuses toward
filling up feedback form from
its customers regarding the
services they also want resort
to offer. By performing this
analysis resort would be able
to determine the expectation of
customer toward it and as per
their demand it can bring new
services that help in increasing
the base of loyal customer by
satisfying them.
These all solutions will help Perfect Fun Centre in achieving sustainability at marketplace
and avoiding future risk that may affect its business practices. But in order to improve its market
image it require to consider:
Business ethics:- Being a CEO of Perfect Fun Centre it has been decided to perform each
business activities effectively and ethically (Torrech, 2018). For this licence would be taken to
open this resort from government and activities would be performed by considering all the
standards and norm that are fixed by government toward children development.
Corporate social responsibility:- It is consider to be most essential part of
organisational success and stability in market. Hence, being a CEO it has been decided to donate
5% of earned revenue for education of poor children.
Customer Segmentation
For offering the services of Perfect Fun Centre children and adults are targeted who come
under the age of 4 to over 100 years. In addition to this people who belongs to both lower as well
as higher income can enjoy the services offered by this resorts.
VENTURE DEVELOPMENT
After performing analysis over business idea, industry and market, next step is to
implement that plan for developing venture. In order to perform this number of actions will be

performed that can be better understood through business canvas model, because this model is to
launch a new or existing product or business idea in marketplace. Being a CEO Of resort
following are elements that are decided to launch this business idea:
Key partners
 Supplier who
offer
instruments
and
equipments
to perform
curriculum
activities.
 Customers
who visits
resorts to
avail these
services.
 Government
al authority
that provide
licence for
starting up
this resort
business
(VarkianiPor
, Hosseini
and Samiee,
2019).
Key activities
There would be
number of
activities that
customers can
perform in
resort which
includes:
 Bowlin
g
 Dancin
g
 Karaok
e
Value
propositions
There are number
of benefits which
resort is offering
in order to create
value among
customers which
are:
 Free
testing on
opening
day
 Diversific
ation in
services
 A surety
to provide
healthy
and safe
place to
perform
activities.
Customer
relationship
 For
maintainin
g positive
relation
with
customers
number of
promotion
al
activities
such as
social
media,
membersh
ip card
and online
advertise
ment
would be
perform
for
interacting
with
customer
on regular
Customer
segments
 Age
group:
The
customers
of resort
would be
from
children to
adult
come
under age
group of
4-100 to
perform
activities
that help
in
promoting
health.
 Income
group:
another
segmentati
on
performed

basis. on the
bases of
income of
people
where all
lower to
high
income
people can
avail
services.
Key resources
 Financi
al
resourc
es to
perform
operatio
ns
effectiv
ely
 Technol
ogical
resourc
e for
aiding
in
services
 Human
Resourc
es for
Channels
These services are
being offered by
Perfect Fun
Centre at resort
premises

attendin
g and
serving
custom
ers
 Physica
l
resourc
es and
equipm
ent that
are
require
d to
perform
activitie
s
Cost structure
 paying off
venue rent
 paying off
utility bills
 Providing
salary to
employees
on monthly
bases
 Monthly
fixed cost
pay off to
manage
Revenue Stream
 Profit per
customers
visits.
 Number
of
activities
performed
by
customers
at resort.
 Membersh
ip
subscripti

services
effectively.
on price.
 Entry
price.
Fund Required to setup Business:-
START UP
EXPENSES
Category Amount Total Investment
Cash &working capital £ 10,000.00 Cash
£
30,000.00
Material/Suppliers/
Inventory £ 5,000.00 Loan/Investment
£
120,000.00
Furniture £ 14,490.00
Equipment/Accessories £ 5,000.00
Wages £ 6,212.00
Utilities
£
950.00 Wages/Employees
Licence Fees/Permits
£
54.00 !6< 160h £ 736.00
Insurance (1 year in
advance)
£
100.00 16< 160h £ 736.00
Rent deposit £ 13,750.00 >16 48h £ 240.00
Legal fees Consulting £ 3*25< 1600h £ 4,500.00

100.00
Security system
£
150.00 TOTAL Monthly £ 6,212.00
Miscellaneous £ 2,000.00
TOTAL £ 47,806.00
Fixed costs
£
34,562.00
Variable costs
£
13,562.00
Furniture/Equipment
30 Tables £ 3,000.00
120 Chairs £ 1,440.00
Bar furniture £ 2,500.00
Sound and lighting
system
£
900.00
Karaoke system
£
300.00
Bowlling accessories
£
350.00
Bowlling system £ 6,000.00
TOTAL £ 14,490.00

CONCLUSION
From the above report it can be summarized that for developing entrepreneurial venture
it is very essential to analyse market situations as well as feasibility of project before
implementing it. These factors can be identify with the help Porter's five force model that
provide an information regarding the number of risks as well as opportunities present in market
so that timely measures can be taken to achieve sustainability and success in market.
REFLECTION
We started this journey with an idea formed up in a group project where after discussion
of several ideas and brain storming them this idea of “Perfect Fun Centre” has been finalised. I
have experienced number of issues in researching over the concept and also several conflicts has
arise between team members regarding their view but these get resolved due to strong team
dynamics. While working over this idea I performed market analysis where it has been found
that there are very limited options available for children curriculum activities specially in
Hertfordshire city, London. Hence, I decided this business idea of Perfect Fun Centre as a
solution to this problem where number of options are available for the entertainment and other
curriculum activities of children. Throughout this work I found an opportunity to develop my
entrepreneurial and management skills that help in future practices. I tried my best to work
effectively but still it was more typical for me as being a CEO I have to focus over all the
departments. But in future if I got the opportunity then I would perform more better in this area.

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Play areas. 2019. [Online] Available through:<http://www.dacorum.gov.uk/home/leisure-
culture/parks-play-and-open-spaces/play-areas>./