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Business Plan
In
addition to conducting the feasibility study, Leisure Business Advisors
LLC (LBA) can expand this effort to include an initial business plan.
This can be done from the start of the consulting assignment, or added
after the standard feasibility study has been completed.
The purpose of a business plan is different than that for a typical
feasibility study. The feasibility study evaluates the market and
financial potential of the project. The business plan explains how the
developer will specifically achieve this potential. It needs to
persuade skeptical readers that the developer has the ability to take
the project to completion.
The following paragraphs outline our typical process in preparing a
business plan.
Task 1: Questionnaire
LBA
first provides a detailed questionnaire of the planned project and its
developer. This questionnaire would particularly cover standard
business plan topics that are not directly discussed in our feasibility
study.
Task 2: Interviews
LBA
interviews key individuals involved with the project in order to answer
the business plan questionnaire. These interviews could be conducted
individually or in groups. If specific questions can not be immediately
answered, we follow-up later by phone and e-mail.
Task 3: Plan
Preparation
Based
on information provided in these interviews and our feasibility study,
LBA prepares the initial business plan. Specific topics include:
- Company (legal
structure, ownership, and history)
- Developer and Key Management
(names, roles, and background)
- Industry
(description, growth, trends, and prospects)
- Planned Project
(description and major components)
- Strategic Aspects - SWOT
(strengths, weaknesses, opportunities, and threats)
- Marketing (target
market and competitive position)
- Anticipated Timeline
(key milestones, likely construction period, and expected opening date)
- Development Budget
(preliminary estimates based on comparable projects)
- Financial Performance
(operating pro forma, financing assumptions, cash flow analysis,
break-even analysis, and business ratios)
As
noted above, the business plan depends on the feasibility study for
critical information. For more details, click here.
The types of leisure projects that LBA serves include the following, listed alphabetically:
Copyright
@2013 Leisure Business Advisors LLC and its licensors.
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