Percy Inn

There is an array of things that are assessed in starting a successful business. When viewing the success of Dale Northrup who decided to open the Percy Inn in Portland, Maine, after being a critic and editor for hotels and cruise ships all over the world, it becomes very apparent that a great deal of work goes into starting a successful business. A business owner must first determine the reasons in which they want to start a business. The owner must determine what entrepreneurial characteristics they possess that will promote the success of their business. Next, a niche and market must be determined. This paper will give details of how Dale Northrup, owner and manager of Percy Inn decided to open a successful business using his entrepreneurial
Business plans usually cover everything from the vision of a business to the marketing to the financial analysis of the business. If Dale presented the business plan to me, as an investor I would be most interested in the potential customers, profitability, operating procedures, and financial data. If I would take the risk of investing in a business that I was not familiar with I would definitely be interested in the market of people that services would be provided to because that would be an indicator of how profitable the business would be. I would also need a clear understanding of operating procedures such as how would the inn be ran and operated in terms of personnel and tending to guests as well as how inns at other locations owned by Dale would be operated when he is not able to be on site. Last, but certainly not least, the financial data is very important. The financial data is important because it will reveal how much money is necessary to invest to start the business as well as how much is needed to maintain and operate the business over the tenure of the business. It is imperative that an investor is aware of what market the business they invest in will target and what financial future the business has to return the money invested and become