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Bus 508 Business Plan Essay

1540 words - 7 pages

Glamorz Bed and Breakfast
Daris Davis
Dr. Mensah-Dartey
Business Enterprise
June 6, 2010

Business Description
Bed and Breakfast is an exciting new down home kind of business springing up all across the country. In 1975, there were only 400 bed and breakfast inns in the United States. That number is over 15,000 today. The professional association of Innkeepers International foresees a doubling of bed and breakfast inns in the next century (Stankus, 1997).
To ensure many return customers, we are looking to create a home away from home which may be more beautiful than where they are coming from. The blissfulness of down town Albany has always drawn a significant number ...view middle of the document...

The mission of Glamorz Bed and Breakfast is to become the best choice in Albany, Georgia for temporary boarding by having a tasteful and luxurious style that no other B&B in the state of Georgia has. Our guest will receive top notch services in a caring, upscale, and professional environment. We plan on having an environment that makes our guest feel like royalty without spending a commodious amount of money.
The Glamorz Bed and Breakfast will be a partnership, equally owned by Daris Davis and Zana McFarland. Ms. Davis will reside on the property, managing and maintaining the business and satisfying Albany licenses requirements.

Industry and Market Analysis

The key elements of marketing are knowing the product and or service you are selling, identifying the market or target customer, and then promoting and advertising to that target customer so they will buy the product and or service. In this case the product and or service is the B&B.
Glamorz, along with other short-term lodging in Albany, have been a substantial part of the tourism. Of the short-term lodgings in Albany, nine are categorized as inns, four as hotels/motels, and only two as B&Bs.
Keeping track of the financial health of our business is essential to its long-term survival. We will begin by implementing a good record keeping system. There are many excellent small business record keeping software packages on the market. Using computer technology to manage the business finances will save a lot of time and money. However, keeping records by hand in a ledger will work just as well.
A good system will help us keep up with our operating expenses, which begin the day that Glamorz open for business. These expenses include maintenance, utilities, office supplies, food and beverage, salary, wages and employee benefits, mortgage, licenses/permits, advertising/promotion, professional services, insurance, reservation service/travel agent fees, association dues, guest supplies, etc.

Competitive Analysis
The bed and breakfast industry offers a unique lodging environment, which caters to an ever-increasing group of travelers. B&Bs create a climate of home, where guests become temporary members of a larger family. The B&B home opens itself to guests, allowing them to participate and share in the richness of a community, while still allowing whatever degree of privacy is preferred. Meals can be shared with the innkeepers and other travelers allowing new relationships to be created and old ones enriched. Or, meals can be taken in the privacy of the guest's room.
A variety of settings available in the B&B are situated to enable individuals or small groups to locate the perfect setting for whatever mood or activity one is pursuing (reading, watching television, playing board games, etc.). In the B&B, a guest is a guest in one's home, not a customer. It becomes a place to return to: at the end of a day, or during the next vacation.

The goal of Glamorz Bed and Breakfast is to...

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