Business Plans:

Bed and Breakfast (Renovation and Expansion Plans)

(continued)

Statement of Purpose

Summary

Description of Business

Industry Analysis

Marketing Strategy

Promotion and Advertising

Competitive Analysis

Personnel

Renovation and Expansion Plans

Explanation of Renovations

Renovations fall into two basic categories:

  1. Renovations required to satisfy city, state, federal or similar governmental ordinances or regulations.
  2. Renovations necessary to meet standards set by the Bed and Breakfast industry and/or differentiate the Inn on Springhill Drive from its competition.

Renovations in the first category, which include but are not limited to fire sprinklers and handicap accessibility, are primarily conditions set forth by the City of Los Amos Bed and Breakfast Use Permit.

Items contained in the latter category are selected based on extensive market and competitive research, with an emphasis on identifying those features capable of providing the greatest return on investment. Included in this category are items such as whirlpool tubs and fireplaces.

Alterations required for health or safety reasons have been exploited wherever possible. The backyard deck, for example, was designed to meet wheelchair accessibility standards without altering the structure in a manner that would be unacceptable to the Cultural Heritage Commission or National Register of Historic Places. The deck will also serve as a positive differentiator for the inn by providing a quiet and private outdoor area for guests. Although a General Contractor has been hired to oversee construction and ensure that all work is performed in a timely, cost efficient, and correct manner, the owner will remain closely involved in the entire renovation process.

Expansion Plans

The three rental cottages will be added to the Bed & Breakfast one at a time, as business conditions permit. Based on current revenue projections, conversions are not scheduled to begin until 1996.

Addition of the cottages to the business will allow for a broader and more diverse target audience, specifically including families and the business traveler.

Research indicates that a growing number of families are interested in pursuing the B & B experience; however, the number of inns that encourage or even allow children is extremely limited. A cottage will provide accommodations spacious enough for a family, with the surroundings and personalized services particular to a B & B, but without infringing on the solitude and privacy of other guests.

The number of business travelers frequenting Bed and Breakfast inns is also increasing. The business traveler is becoming more demanding of personalized service and he/she is more likely to combine personal vacations with business travel. In addition to its close proximity to the Metropolitan area, the Paris Valley itself is becoming more attractive to the business community. The need for overnight accommodations and meeting space increases as more corporations move into the area.

Renovation requirements and pricing will be determined at a later date, based on then-current market need and availability of funds.

Financial Data

Supporting Documents



 
 
 

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