Reference no: EM133132103 , Length: word count:3000

Enterprise and Entrepreneurship in Tourism and Hospitality

Start up should be of hospitality or tourism industry

Business Start-up Pre-Feasibility Report

You are required to prepare an outline initial feasibility study for setting up a small tourism, hospitality, or related business operation. The business idea should tap into a market opportunity that assumes a re-opening of the tourism / hospitality/leisure sectors as the global pandemic is brought under control.

The business proposal may be located or based in and around Sheffield, or in a location with which you are familiar, anywhere in the world. However, you should consider the location in terms of the availability of market data to support your proposal. You should also provide sufficient background information to enable your tutors to mark your work equitably.

Your business idea may be the provision of a physical service or facility gra virtual/online business. It may be a service that appeals to a general visitor market (e.g. day trippers, sightseers. inclusive tours) or to specific groups (e.g. educational visits) or particular motivations (e.g. health and wellbeing. outdoors interests, heritage seekers etc..,), or types of visitors (e.g. visitors with disabilities. non-English speaking visitors. famdies with young children. cultural groups etc.). It may be a business that serves a mix of customers (such as visitors and locals for a hospitality operation). It may be a 'traditionar independent owner / operator idea ff follow a different type of entrepreneurial model (e.g. social enterprise, franchise...)

Produce a report of your findings. following the conventions of an outline feasibility report that would be required by any potential investor or lender in the business.

Where appropriate, (e.g. for a physical service/facility) it is expected that some field-based research should be undertaken as part of your study, such as field visits or observations.

Your report should include:

• A brief Executive Summary, providing an overview of the report and key finding(s)
• an introduction. including a brief description of the idea, its location, and other key operational features of the proposed service / product that provide headline' justifications for a potential investor.
• the management of your venture - key people. their rotes. skills and attributes as related to the type of business.
• the market gap and target market(s), including customer segments and characteristics the business is aiming to exploit.
• the proposed alms and objectives of the business fie what you are setting out to do in terms of size and growth, etc...).
• a brief but focused external environmental analysis of the market that your proposed business is in (which may include competition, the market environment /growth trends. social and economic factors, constraints etc...).
• key investment considerations, including how much initial capital investment is needed, and any proposed external sources of funding.
• a description and explanation of the financial performance Indicators you would need to provide to external investors.
• estimated financial forecasts containing sales / income and cost assumptions supporting profit q" "`‘ -pendices).
• a conclusion which gives an overall evaluation of the feasibility of the idea

Attachment:- Income Statement.rar