Victoria Bed and Breakfast Business Plan: Market & Financial Analysis

This document presents a business plan for Victoria Bed and Breakfast, outlining the motivation for the business idea, the process of generating the idea, and a feasibility study covering financial aspects. It details the products and services offered, potential market opportunities including STP and PESTEL analyses, and an assessment of the industry's attractiveness using Porter's Five Forces. The plan articulates the business's vision for customer satisfaction and quality service. It concludes that a well-crafted business plan is essential for guiding the company's marketing, operational, and financial strategies, enabling it to attract customers and achieve success. Desklib provides a platform to explore similar business plans and solved assignments for students.

Business plan for VictoriaBed
and Breakfast

Table of Content
•Introduction
•Motivation for choice of business
•The process you went through to generate this business idea
•Feasibility studies conducted
•Details of the product/service to be offered
•Potential market opportunities
•Attractiveness of the industry
•Vision for your business
•Conclusion
•References

Introduction
The business plan is an written description for the
future business. It is an document which describes
what plan to do and how it needs to be plan. The
business plan helps in performing number of tasks
and used by investment seeking entrepreneurs for
convey their vision to potential investors. It is an
essential roadmap for the business success which
describes goals, direction of company is going to
take. It is an written summary of business venture
proposed by entrepreneur's.

1. Motivation for choice of business
Why this business idea?
In current scenario bed and breakfast is getting popular in all world.
With the evolving time there is being rise in particular food industry and have
been becoming highly successful with ample of profits for entrepreneurs that
helps in generating wealth, vision for transforming peoples lives. The idea of
starting B&B gives sense of being home because rooms are both comfortable
and elegant. It customizes its menu by special offering its integral items such
as drinks, chips, catering involving hotel room prices. Hence it can be
considered as an profitable business idea.

2. Process of generating a business idea
The business idea is an thought which is used for monetary benefit that focuses
on item and shown for cash. In order to generate an business idea different
process are used that helps in reaching to a specific conclusion. It is essential to
have an business idea before launching any business venture. For the purpose of
generating business idea of Bed and Breakfast several techniques is being used
such as brainstorming, internet research and mind mapping.

3. Feasibility study
The feasibility study comprises detail analysis of what is required to
complete the proposed project. This involves an description of new product or
venture, market analysis, along with sources of financing and capital. The
establishments of bed and breakfast offers short term lodging in private homes
and small buildings which is highly personalized service and inclusion oaf full
breakfast in room rate.

Continue..
Financial feasibility
The term "financial feasibility" refers to whether or not a project is
financially feasible. A cost/benefit analysis of the project is included in a
financial feasibility report. It also estimates the projected return on investment
(ROI) and identifies any potential financial hazards. The budget that should be
prepared for The Grind espresso is mentioned below with the initial
investment of £ 100000.
 Cost of the furniture = £ 7500.
 Advertisement cost = £ 5000
 Cost of setting – up = £ 5000
 Saved for future purposes = £ 3500
 Office Rent = £ 150000
 Licensing = £ 18000
 Kitchen Equipment’s = £ 50000
 Marketing = £ 15000
 Staff = £ 50000
 Raw Material = £ 67000
 Total Costs = £ 371000

4. Details of product and service to be
offered
The product is an tangible item which is made
purchased, consumed by the customers on the other side
services is an item of intangible which arises form output of
more than individuals. The product and service is outlined by
the company which it will offers to customers involving
pricing, product lifespan etc. in context to bed and breakfast it
will offer varieties of food items along with juices, shakes
and snacks. It will provide the services with full
complementary breakfast served in morning

5. Potential market opportunities
The potential market is new opportunities for
marketing and selling products or services to the
customers. The potential market opportunity is
about to estimate hoe many consumers or business
belongs to target market. In framework to bed and
breakfast market opportunities is related to
attracting and keeping of customers. To have the
growth for the business new market opportunity
are identified which is assessed by calculating
market size, competitor analysis, external
environment and marketing mix.

STP Analysis
It involves the study of STP analysis which is an analytical tool with
three elements of segmentation, targeting and positioning used by different
organisation.
 Market segmentation
 Market targeting
 Market positioning

PESTEL Analysis
The marketer uses this framework for making analysis and monitor of macro-
environment which impacts on business organisation. It is helpful in identification
of organisation threat and weakness which involves various factors.
• Political factor
• Economic factor
• Social factor
• Technological factor
• Environmental Factor
• Legal factor

Marketing Mix
This is used for describing the organisation choices which is part of marketing
plan made during the process of bringing product or service in market. It
comprises of 4Ps that companies will use for make its product sale and service to
target customers.
• Product
• Price
• Place
• Promotion