Cartref guest house enterprise: An evaluation of the feasibility of setting up a guest house within Roath, Cardiff.

Abstract

The enterprise project has been written to assess the feasibility of starting a guest house in Roath, Cardiff. The long term goal of the business is to become Cardiff’s most homely and welcoming guest house. Creating a "home away from home" environment and generating a differentiated experience to that of substitute business will be the most effective way of generating customer interest. The guest house's goal is to be more than a great guest house and to surpass the expectations of all who walk through the door. The guest house will offer something the larger hotels in Cardiff cannot, a homely, friendly atmosphere where the guests have the opportunity to relaxed and unwind. The name of the establishment "Cartref" is the welsh word for home and seemed to suit the aim of the business perfectly and work well in Wales capital city. Desk research was conducted to understand what information was readily available of the subject area and field research in the form of a questionnaire was conducted. The questionnaire given to one hundred people enquiring about accommodation at the Welsh Tourist Office and gave invaluable research into the wants and needs of potential customers. A SWOT and PEST analysis highlighted the strengths and weaknesses of the internal and external environment. In order to successfully cover all the aspects with a business set up, a business plan was devised to demonstrate the feasibility of the guest house. Within the business plan financial forecasts i.e. cash flow statements and profit and loss account, legal obligations and business formats were completed.