An evaluation into the feasibility of setting up ‘Travelling Teepee’s’, mobile accommodation for festival attendees.
Cardiff Metropolitan University
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The aim of the enterprise project is to evaluate the feasibility of launching luxury festival accommodation in Somerset. The project aims to provide an insight into the literature around this subject, a market study, a business plan and feasibility of setting up a new company named Travelling Teepee’s. Secondary research was carried out in the form of a literature review to examine the current market trends; this was focused around the events industry, small businesses, funding a small business and market research. Primary research was carried out in the form of interviews. Two companies, one in direct competition as well as a supplier for the product were questioned to gain information regarding the demographic of the service, also marketing strategies. Also a questionnaire was conducted of 111 responses, to understand the consumer and their spending habits and trends in the market. This task supported the feasibility and demand for the business and identified a potential market. 89% of responses from the questionnaire stated there is a demand for this business. From this information, a detailed business plan was conducted to show evidence to support the business concept. The aims and objectives devised, directed the project and ensured that the key areas were included. Both primary and secondary results enabled the individual to establish a marketing strategy that was developed and implemented. The business plan has covered all aspects of a small business, including development and growth. Results from research have demonstrated the feasibility of Traveling Teepee’s and the gap in the market for this business. The business plan also included a financial forecast, regarding the businesses health and safety and legal requirement. A SWOT analysis was devised to assess the feasibility of the business, to demonstrate its existence in the current market. In conclusion the individual has discussed and analysed the results regarding the feasibility of the proposed business, and from this, feels confident that the concept of the business will succeed in the Somerset region. These results are supported by the enthusiasm, drive, determination and personal experiences in the events industry.
BA (Hons) Event Management
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