Business Plan in a Time of Crisis

Abstract

The tourism has long been turned into economic and social phenomenon in everyday life for millions of people. It involves not only their free time and movement, but also it takes an important role as a mediator between people’s relations, for political, cultural, economic and social contacts. This is the main reason for the increased volume of the tourist traveling, from 287 million in 1986 to 595 million in 1996, and the tendencies are to keep growing up. This project tends to investigate the current economic and financial situation and produce a business plan for the construction of a Beauty and SPA in hotel Sunrise in Golden Sands, Bulgaria. As these are hard times special attention on the economy is paid. The project for the construction of this facility is very personal and special for me as I am actually responsible for its completion. This will be the first accomplishment in my professional development that I will start from scratch, develop and hopefully make a successful business. While the SPA experience may once have been considered a luxury to hotel guests, hotel owners and managers are fast realizing that it is necessary to have a SPA, in order to meet guest expectations and to remain competitive. Now with a trend toward better lifestyles, an increase in disposable income, and less available time, SPA treatments are better accommodated. This dissertation is a research and a business plan. It includes a thorough literature review of the main theory used in this work. Following the literature review is the methodology chapter which aims to give information on the research methods and additional ways I used to collect the data for this work. Then comes the data and analysis chapter in which I comment the findings from my research as well as giving my personal opinion and view on subjects based on my experience. It collects all necessary information for the production of a business plan. It starts with survey results. The cosmetics and procedures are discussed. I go through pricing strategies, advertising strategies, competitive analysis, environmental analysis and trends, crisis analysis, operational plan, management and organization description and financial plan. From the above mentioned points I have paid special attention to the environment and the crises as it is a pressing topic. As an end I draw conclusions I made from the findings and analysis and make recommendations on the execution of the project in real time and suggestions on how to deal with issues within the company, the sector and the country.