Business Plan for the Family Entertainment Center, Free Paper Example

Published: 2022-07-01 08:34:29
Business Plan for the Family Entertainment Center, Free Paper Example
Type of paper:  Business plan
Categories: Business plan
Pages: 6
Wordcount: 1382 words
12 min read
143 views

The family entertainment center is a business venture aiming at bridging the existing gaps in the Waycross community

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History and Background of the Business.

Based on the research and feasibility analysis I have carried out in Waycross, I have so far discovered that there are no family entertainment centers in the entire community. Due to this existing gap, I am determined to venture into a family entertainment center. After successfully establishing this venture, the community will start enjoying the benefits such as the creation of employment opportunities, raising the living standards, attracting other business to Waycross resulting insignificant developments and growth. The Moon Walkers are limited liability Company aiming to fill the existing gap in Waycross community by establishing a modern family entertainment center majorly for the whole of Waycross community

The name of business shall be; Moon Walkers LLC, establishing Family entertainment center.

The corporation shall be fully registered to provide our community with an entertainment center and also bring potential business to Waycross.

Waycross is preferable for this kind of activity due nonexistence of a similar venture in the entire community. Also, on the existence of the family entertainment center, it will attract potential and lucrative businesses leading the growth and stability of the Waycross community.

The Family entertainment center is aiming at providing quality services such as indoor playing ground, arcade, black light mini golf, laser tag, Ninja warrior course and skating. Also, the Family Center will also provide concession type of food. These services will significantly help in shaping the image of the community hence leading to significant developments in Waycross.

The primary objectives of the Family entertainment center are as follows; creation of employment opportunity to the Waycross community, Ensuring customers satisfactory by the provision of standard services and also maximizing profits to facilitate its growth and continue supporting the community as a whole.

The vision of the entertainment center shall be; to be the leading above all regarding service delivery and customer's satisfaction and ensuring continuous quality check to meet the standard required of the family and the entire Waycross community.

The mission statement of the enterprise shall be; "to provide standard services aiming at customer's satisfaction."

Marketing Plan

Overall, the Family entertainment center intends to sell its services to the following kinds of people withinthe Waycross community. The institutional customers (100), commercial customers (450), individual customers (1000). The excellent number will help significantly in promoting the center to the next level through accessing their services, i.e., by participating in Ninja warriors courses and buying their concession types of food. Also, the Waycross community will act as the principal shareholder of the company due to that the business venture is located just within the community. Moreover, the community will benefit significantly from their practices in the Family entertainment center in return for helping the company to maximize the profit margin. The availability of concession types of food plays an integral role in marketing since the Waycross community residents will regularly enjoy their delicious menu.

Competitive Analysis

The family will mainly aim at providing a high standard of service to their respective customers to compete favorably in the business environment. The family centers are yet to be established at the Waycross community hence the family entertainment center will face zero competition. As a result of less competition, the family center will provide standardized services in order not to create a loophole for competitors. The family entertainment center is focused on carrying out questionnaire within the Waycross community to help find the inadequate services or what the community will term as the missing gaps. The survey will be carried through asking the community-based residents how they feel about the services and filling the identified gaps to ensure that no competitors may arise to challenge their service provision. The family entertainment center will also attend several bench markings in other organizations and participate fully and take noteson how the similar centers operate.

Operation Process

The significant steps or stages in the operational process of the family entertainment center business are as follows; sourcing of clients which will majorly base on the nature of the targeted groups, i.e., the Waycross community. It can be done best through publications methods, i.e., use of billboards, posters, and the useof the center's websites (Facebook accounts, Google,and Twitter). These publications methods are the best in sourcing for the clients based at Waycross community since many clients can be reached at the convenient time possible. The second steps in the operational process include; selling the deal with the client, i.e., this involves the amount to be charged for the service offered. In this scenario, the family entertainment center gets engaged in price negotiations with the clients on the amount to be paid for the services offered. The two parties involved will come to an agreement point and settle on a fair price for all.

Equipment, tools or other fixed assets required by the Family center to operate successfully in this service business includes; premises for establishing the family center business, skates rollers, a hotel premise for preparing the concession type of food for clients, computer assets for carrying out innovation research to significantly improve their services to the highest standards

Critical risks and problem that may occur or face the family entertainment centerare as follows; Risk of fire which can damage the family entertainment business. It can be as a result of the outbreak of fire due to faulty electrification of the business premises. Also, one of the critical risk that may face the family entertainment business is the occurrence of an accident. It can be as a result of injuries associated cases that might encounter the clients, employees and other stakeholders of the family entertainment venture. Lastly, theft can also be a threat during the operationalactivities of the enterprise. The stakeholders are cautioned to be alert while on duty or in recreational facilities to avoid any risk associated threat. The employees shall be trained on the safety measures during a crisis. Also, licensing the Family entertainment center to operate without any restrictions. Lastly, applying insurance for the entertainment center business incase of any risk, the management body can apply insurance policy to recover the loss. The actions will improve the security situation of the venture greatly.

Legal requirements both by the national and county government include the following; the business permit is issued to allow the existence and operation of the family entertainment center in Waycross community. Tax compliance certificate issued after completing payments of tax to the authorities concerned.

Management and organization plan will be concerned with the proper management of the entertainment business to maximize the profits as much as possible for the developments purpose of the Waycross community

The staffing structure will be based on merit. Personnel manager dealing with all matter about staffs, an account which will be preparing the financial reports, agents will be majoring on report and responding on customer feedback and lastly, the business owner specializing on making final decisions and supervises the work being done.

Looking for employees and motivation majorly involves the use of both the print and social media advertisements. Motivating the employees consists in training them on how to perform his or her work practically, giving promotion to those hardworking employees based on every individual merit, use of insensitive and remuneration. It is majorly based on anemployee's qualification, experience. The employee will be given allowance depending on the rank of each employee. Numeration of all the workers will also be considered.

Financial Plan

It is majorly concerned with buying of the fixed assets being used to operate the family entertainment center business

(a) Buying of fixed assets which will total to $ 90000

(b) preoperational cost

The total preoperational cost of running a business is amounting to $ 26500

The following are some of the sources funding of the family entertainment center business; Banks loans will be so helpful in funding the business venture since the family entertainment business mainly focus on the needs of the Waycross community and how to fill in the existing gaps. The next source of funding is from the owner's savings and contributions; they are money especially cash amount from the immediate stakeholder of the company.

Appendix

Location map

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Business Plan for the Family Entertainment Center, Free Paper Example. (2022, Jul 01). Retrieved from https://speedypaper.net/essays/business-plan-for-the-family-entertainment-center

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