Offshore Charters – To Critically Evaluate the Feasibility of Operating A Sustainable Luxury Cruise Operation in the Inland Waters of the Jurassic Coastline and the Tranquil Surrounding Areas of Dorset
University of Wales
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The main aim of this enterprise project was to set up a competitive and distinctive business that is sustainable in the long term and provides itself with a unique selling point that creates a highly profitable business. The project was focused on creating a luxury yacht chartering business in the area of Dorset and to ensure the author was successful in doing so a number of aims and objectives had to be met to enable the project to be completed. The market the business will be placed in had to be investigated, a detailed business plan was to be completed, market research was needed to be conducted and carried out and the author had to recognise the financial resources and implications of running a successful profitable business. The author began by conducting a literature review which was able to show the relevant information relating to the business and to help widen the author’s knowledge of the market. The areas which the literature review looked at were the importance of entrepreneurship, small business start-ups, location of the business and a yacht review. Secondary research using UK yachting statistics and Government Statistics were also used to compile the literature review. Primary research was conducted in the form of questionnaires and distributed in the areas of Poole, Sandbanks, Bournemouth, Lymington and Christchurch which was where the potential target market for the company is based. 99 questionnaires were completed and results from both primary and secondary research helped produce the business plan. The business plan was the most important section as it was able to determine whether or not the business would be successful and also was able to provide a more detailed understanding of what the business was going to offer. Other key areas that were addressed were marketing, production costs, personal management and financial forecasting. Other forms of research have been included such as a SWOT and PESTEL analysis which indicated internal and external factors that the business may face when entering the market. A competitor analysis was also conducted to give a better understanding what was currently being offered and how a new business would be able to compete in the current market. To conclude an analysis and discussion was completed with a further conclusion evaluating the overall enterprise project and whether or not the project had been a success and the business should be established.
BA Enterprise Project
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