Away with the old and in with the new ‘X-Treme Gravity’ recreational park. The business is viewed as exhilarating, enjoyable and flexible. It accommodates almost all ages and different packages are designed to suit the customers’ capacity and beyond that to boost one’s confidence by motivating them to overcome their fears. The first task accomplished was the brainstorming and mind-mapping session. This was done in order to develop an exhilarating and fresh idea for recreational businesses. The factors considered for the business were divided in to two. There were the external factors that were considered such as economic factors, political factors, the socio-cultural factors and the competitors in the industry. Then, there were the internal factors considered which include: the start-up costs, the returns on investment, the assets and other resources required and the overall financial budget. The business’s main center is located in Karen within Nairobi. These premises offer several extreme and outdoor sports such as paintballing, go karting, dirt bike racing, and zorbing, among others. The business also extends their services by offering extreme sports packages for certain extreme sports that cannot be done on the premises. Therefore, the packages comprise of mountain climbing, trekking, scuba diving, snorkeling, white water rafting and sky diving to different areas within Kenya. The vision of this business is; to provide excellent customer services, build long-term relationships with the clients, create awareness & increase stipulation for the extreme sports. Various sources for the research were used, such as: The Internet, newspapers, magazines, journals, public banners, the general public, individual businessmen and successful companies. The task of SWOT analysis was much of a group contribution, whereby the group members contributed information based on their own knowledge and understanding of the business. The financial projections of the business were based on estimated values. The business interviewed companies with similar products such as, ‘Out of bounds’ and ‘Kitengela adventures, to acquire reasonable figures for costs and revenues. They were mainly interviewed via email and telephone. Our business also did surveys and face-to-face interviews. A market research was carried out to determine market growth, trends and needs. Survey objectives were determined and the questions were prepared based on these objectives. The promotional campaign was addressed and researched through a market survey. Overall, the business was seen as viable and acceptable.
AIM AND OBJECTIVES OF THE BUSINESS
-Short Term goals:
From 1 to 12 month of operating:
a)Establish the target market and inform the target market of the products existence by 10% in the first year. b)Creating a promotional and marketing plan that will fasten the awareness process by 15% in a year. c)Using discount and seasonal pricing to increase the demand of the products and services in the market by 10% in the first year. d) To develop a relationship with our customers in order to create a friendly environment and to keep them loyal to our business. This will maintain and steadily increase revenue by 5% each year. -Middle term goals:
From 13 to 60months:
a)Design a marketing plan that will keep our customers loyal to the business. Profits will steadily increase by 10% in a year. b)Design a plan to increase our customer’s margin; revenue will increase by 9% in a year. c)Increase the profit monthly through the above plans. Profits should increase by 15 in a year. d)Receive higher returns on the investment of 12% in a year. e)Grow in the market and expand the business’s market share by 6%. f)Increase revenue and sales margins after the first year, by 10% each year thereafter. - Long-term goals:
a)To expand the business by locating it in different areas to facilitate the access of our products to potential...