This name fulfills the conditions of being distinctive, as well as easy to pronounce, remember and recognize. Our slogan will be “where fun comes to town”. The logo of the theme park will be the original logo of the company at will have copyrights against it. The logo tells about a lot about the amusement park, it gives us an idea that this a water based amusement park, with a twist of adventure in it. Wet n Wild will have a focus to reach the breakable point within 2 year of its operations. The projected initiation cost for the project is (include amount) and will be operating from Cox’s Bazaar, Chitchatting.
Making it the first ever Adventurous Park of the country, Wet n Wild will also focus on providing high quality product and services. Moreover, in the long run the company would look forward to convert it to the largest amusement park of the sub continent. Vision and mission statement The vision of the company is to be the leading amusement park in Asia. However, the vision is a long term plan but for achieving the vision we must have a mission. Wet n Wild will be a state of the art amusement park; it will not only attract customers from within the country but will also attract adventure lovers from out of the country.
Therefore the mission of the company is “to have a new dimension for the tourism business in Bangladesh”. For the market-oriented statement, we have chosen “where fun comes to town”, since we are offering unique adventurous rides. This line is unique, as well as it gives a personal touch, making people feel more involved. The company’s primary financial goals are to maximize earnings and cash flow, and to allocate capital profitability toward growth initiatives that will drive long-term shareholder value.
Business profile: A) Stage of growth Our company grows by diversifying into new businesses by developing new products and new services in the new market. It is the most risky of four growth strategies science it requires both service and market placement and may be outside the core competencies of our firm. However diversification may be a reasonable choice if the high risk is compensated by the chance of high rate of return. Other advantages of diversification include the potential to gain a foothold in an attractive industry and the reduction of overall business portfolio risk.
Our company seeks to increase profitability through greater sales volume obtained from new products and new markets. Because we know that Diversification can occur either at the business unit level or at the corporate level. At the business unit level, it is most likely to expand into a new segment f an industry that the business is already in. At the corporate level, it is generally very interesting entering a promising business outside of the scope Of the existing business unit. There are four primary stages of the typical enterprise life cycle in a business.
Our business is in or belongs in the start up or planning stage. Planning seems like a waste of valuable time – we have so much to do already! This is the critical stage where effective planning can make our vision a reality much sooner than without properly planned business activities. From choosing the type of entity that will best et our company needs to securing capital, Texas professional advisors can put our on the fact-track toward success. Issues that may arise Choice of Entity Tax Elections Cash Flow Planning Software Applications A good business plan is like a map.
We also have a map like that which shows the best path to achieving business goals. Setting targets forces a business to identify essential key performance indicators. Creating a business plan sets out the effective use of time and resources. It sets out how to take advantage of business opportunities. Its value is only realized when the plan is used, reviewed and tested regularly. Business plans cover several functions. They are usually set specific business goals such as revenue targets, raising finance and specific programs – like marketing.
There is no standard format for a business plan. However, business plan will include: a list of business goals a management and financial plan a sales and marketing plan an operations plan Start-up Stage business planar business have a great deal of Seed and Start-Up Stage experience in working with new Seed and Start-Up Stage companies. Our expertise gives us the edge need to make us stand out from the pile on an investor’s and bank’s desk. Allow us to accompany you at this crucial early stage of your Seed and Start-Up Stage business.
There is a lot of planning that goes into starting any business. Our Financial objectives focus on achieving acceptable profitability in our company’s pursuit of its mission/vision, long-term health, and ultimate survival. Financial objectives signal commitment to such outcomes as good cash flow, creditworthiness, earnings growth, an acceptable return on investment, dividend growth, and stock price appreciation. The following are examples of our financial objectives: Growth in revenues Growth in earnings Wider profit margins
Bigger cash flows Higher Internal Rate of Returns on invested capital A more diversified revenue base B) Industry analysis: As we know, our service or this type of entertainment park is very popular not in our country but also all over the world so the history or background of our business is very strong. We can make and easily can earn our profit. We can see that in our country there are few number of Entertainment Park than our people demand. There are some heritage parks in our country, like Fantasy Kingdom, Anode, Foxes’ Lake, and Wonderland.
Everyday there are many people go to there for their refreshment. So they et a great charge from each person by their get pass and from their different kinds of rides. As we know Cox’s bazaar IS the longest see beach in the world. So there are many people come into our country. On the other hand there is no this type of park on this area. So it is a great advantage for us to get the valuable consumer. Not only that we arrange different types of activities which show our own cultural tradition.
We arrange well learned security which ensure and make high quality of our service. Business Strategy Desired image and position in the market The Wet n Wild Park seeks to make itself the market leader in the entertainment spot industry. We believe that with the Government help and by marching with other entertainment organization we can expand the area of the park and also add some other technically developed items and rides in future. Goals and Objective Goals Wet n Wild Park aims to provide its customers a better entertainment spot with well security and cleanliness.
The target market of Wet n Wild Park is basically the tourist from outside of the country and the upper and upper middle class people in Bangladesh. To provide a better service and to serve sound refreshment in holidays, this park is the best option where customers will get a friendly secured environment. As Bangladesh has the longest sea beach in the world, so tourist from outside will definitely like to be a part of it. A large amount of foreign currency can be earned through this park because many tourists have not taken this beach as a good option for the lacking of entertainment here.
Also the urban upper class and upper middle class people who love to spend their holidays abroad will get a place to enjoy in their own country. Surfing, speed boat, large aquarium with extinct fishes and aqua creatures, finishing ingredients, ides, swimming tubes n life jackets, laser show materials and diving stuffs will be franchised to provide a better service. Wet n Wild park will arrange concert in different occasion. Moreover the auditorium in the middle of it will be used for the cultural show, seminar, fashion show, exhibition, local or foreign musical program.
Side by side, the basic ingredients of our culture; such as, Nagasaki Chat, different cakes, traditional dresses, basic Bangladesh song and dance, puppet show etc will be taken place in this spot in different occasion, so that the tourists from different corner can come to know about Bangladesh culture. Objectives: Wet n Wild Park will be a tourist centre where we will get a large amount of foreign currency as well as profit from local well off by people making a combination of our natural beauty and sophisticated entertaining tools related with sea.
This park will ensure security in the entire area as well as cleanliness will be much improved rather than the other theme park existing in Bangladesh. SOOT Analysis Strength I. Location: As our park is situated in the sea shore which is the largest one in the world, so it will be helpful for us to grab the tourist all over the year. As we already have so many hotels and motels beside sea shore and so many options of transportation, so it is easy to make the holidays entertaining in the park. Ii. Different Environment: As we never had any sea shore park before, so it will be a new experience for our local people.
This place is much less crowded and ideal for sea baths and perhaps a picnic. Iii. Monopolist Since we are doing monopoly business, so we do not have any direct competitor till now. Iv. Higher Price: As we are charging kind of higher price for the tickets, so uncultured people will be very few in numbers. So it will elf us to keep the park clean and secured. Weakness I. Newly introduced: Without having any past experience and example, we are launching our amusement park. So it will be highly risky for us to maintain everything perfectly. Ii. Costumes: Tourists from abroad have a different life style.
They put on swimming costumes in the sea beach which is easier for them to swim and to have sun bath. This costumes and the way they behave will hurt the feeling of our religious feelings as we are living in a Muslim country. Opportunities: I. Market Leader: As we do not have any direct competitor right now, so we re the market leader. However since its a new type of amusement park beside the sea that’s why, we will get lots of response from the consumer ii. Tourist Attraction: Wet n Wild Park will be one of the world famous spot of tourist attraction in Bangladesh.
Because it’s one of a kind, there is no amusement park in the world which is situated beside the sea, that’s why it will work as a competitive advantage iii. Spreading Out Our Own Culture: Through different occasional exhibition and concert, we can show our culture to the tourists from different parts of the world. And by this way we take an initiative to give a rebirth of our extinct culture. Iv. Increasing Demand for a leisure place: As the upper and upper middle class family always look for a place to have a modern entertainment place, so this park will give them better refreshment.
Threats: I. Roads: As most of the roads are not well enough to travel, so this might discourage the tourists to come. Road accidents are a common issue nowadays in the long roads. Uneducated and untrained drivers, defective transports, broken roads are the main reasons for it. These may demoralize not only the tourists but also the local people. Statistics say that, there were o many road accidents occurred in previous years in the highway of Dacha- Cooks Bazaar. Ii. Natural Disasters: When the cyclone, tornadoes, flow tide, big storm etc will occur, the park will be totally closed.
These natural disasters may damage our park badly. Earthquake will also create loss. Iii. Security: Bomb or grenade attack may occur by the terrorists as people from different religion and country will be there. As in the time of last World Cup we prepared with the highest security because people from different culture will come in the event. So to get rid of the terrorist we will manage the highest security in our park. Competitive Strategy As our park is totally new and different from the any other things, so we will follow differentiation strategy.
Our aim is to build customers loyalty by positioning our goods and services in a unique different fashion. So we can enable the business to command a higher price for its services than the indirect competitors we have. We will make people understand the difference of our park though different ads, giving discount at the initial stage. The best uniqueness we have is this is the first she shore park in Bangladesh and people have never experienced it in this place before. Product and services: Swimming: people can swim in the sea very safely as there will be always coast guard there.
However, during the time of tide, the swimming scheme will remain closed and again resume accordingly. Fishing: there will be facility of fishing by using net and angling. People will go to the sea by using small boats and can experience the real life of a fisherman. However, due to safety concerns the park will restrict its customers from fishing at night. Diving: under water and deep sea diving are the major attractions of our park. First time this is introduced in Bangladesh. People can experience the underwater world by their own eyes. There will be instructors and proper safety measures.
Surfing: surfing has started at Bangladesh at a small surface. People can do surfing here and have fun. Moreover, an optional training program will be available with the surfing scheme of the park. Dolphin show and Seal show: it is another unique feature of the park as dolphins and seals are unavailable in the Bay of Bengal. We will import Dolphin and Seals specifically from the Atlantic. The show will demonstrate different moves and games which will amaze the visitors. Sender water aquarium: there will be a under water aquarium in the park which will attract the visitor.
There will be real sea fish which the visitors can see very closely through naked eyes. Different water rides: there will be different rides like giant splash, water waves. Water roller costars and many others. Accessories stall: Meeting international standards will always remain a key vision for the park. As a result, we will setup local accessories stalls along with the global brands such as Nikkei, Wilson, Aids and Polo inside the park. From these stores the visitors will be able to buy accessories required for surfing, swimming, fishing etc.
Food courts and restaurants: Making the park a place to hang out for the hole day will remain incomplete if there are no food courts or restaurants available in the park. And this is something that we cannot afford to leave it undone. Thus, we will provide local sea food restaurants inside the park. However, since tourism is a potential source of customers, we would like to leave no lacking with the choice of food. So, we will offer outlets of KEF, Pizza Hut and Monads which are already famous in the country as well as globally. Cultural show: Wet and Wild park will arrange concert in different occasion.
Moreover the auditorium in the middle of it fell be used for the cultural show, merman, fashion show, exhibition, local or foreign musical program. Side by side, the basic ingredients of our culture; such as, Nagasaki Chat, different cakes, traditional dresses, basic Bangladesh song and dance, puppet show etc will be taken place in this spot in different occasion, so that the tourists from different corner can come to know about Bangladesh culture. Customers’ benefits There are several benefits a customer can enjoy. They are as follows- The location is one of the most important features.
The park is situated at the longest sea beach of the world. So people can discover the sea beach. The park is situated beside the Bay of Bangle, adding to the visual appeal of the park as well as enhancing the theme. The park combines live shows, visual displays, and a variety Of rides. Something for all tastes and ages. The park will pride itself on its customer service regarding its friendly, helpful and courteous staff. All employees have to attend customer service seminars which supplements ongoing internal and external training, emphasizing the importance of excellent customer relations.
Uniqueness: Being unique is one thing that will surely drive the customers towards our water park. That is because first of all, in Bangladesh, for the very first time, this type of water-park is being launched. This is a very new concept in our country. A thrilling adventurous experience with a focus on marine and environmental awareness, value for money, friendly and helpful staff, clean, fast and friendly services are the Uniqueness of the sea amusement park in Bangladesh. Secondly, Diving, Surfing, Dolphin show, Seal show, under water aquarium, Different water rides are varies new in Bangladesh.
As a result customers will find it even more attractive and amusing than any other theme parks. Thirdly, every single customer will be given special attention. So, customer satisfaction will result at the highest possible outcome. Lastly, with number of safety measure being taken, the park is very safe and people will enjoy every single moment of the park. Marketing strategy A. Target market: As one of the most beautiful and famous tourist spots in Bangladesh, the major source of economy in Cox’s Bazaar is tourism. Millions of foreigners and Bangladesh natives visit this coastal city every year.
As a result, a large number of hotels, guest houses and motels have been built in the city and coastal region. Many people are involved in hospitality and customer seen,’ice orientated businesses. So it is a great opportunity for us to create a business of amusement park there. The percentage of International and national visitors fluctuates from month to month and is dependent on holiday seasons, travel trends and world economies. We can segment the customers of Sea Park into some categories. They are: Income group: The things are unique and they are offered in Bangladesh for the first time.
So the expense of our sea park is a bit higher. So people of moderate income (higher middle class families) are our target. Education: of course highly educated people are our target as we want to maintain the environment of our park. Marital status: married customers are also our target as they come for holiday very frequently. Age group: people of all age are our targeted age group, from kid to aged person. Gender: we want people of all gender to come to our park and enjoy. Location: people from all over Bangladesh as well as the tourist of outside the countries are our target market.
Our targeting strategy is the concentrated on mass marketing strategy. The idea is to broadcast a message that will reach the largest number of people Seibel. Traditionally mass marketing has focused on radio, television and newspapers as the medium used to reach this broad audience. By reaching the largest audience possible exposure to the product is maximized. If the target customers can be served more than expected, customer loyalty Will build up and the business will have a strong foothold in the industry. B. Customers motivation to buy: In Bangladesh there was not such type of park.
This is the first time they are experiencing something like this. It is a unique park which will attract a large amount of customers. A thrilling adventurous experience tit a focus on marine and environmental awareness, value for money, friendly and helpful staff, clean, fast and friendly service motivate customers to come to our park C. Market size and trends: Bangladesh is a country full of beauty and natural recourses. Every year lots of native as well as foreign people visit the different locations. So Tourism sector of Bangladesh is very flourishing. Every year millions of tourists visit Cox’s Bazaar.
So the market size of our sea amusement park quiet large. D. Advertising and promotion: Form of Media: Roadside hoardings/Billboards: Roadside hoardings, commonly now as billboards will act as a key advertising agent for this business. The basic principle of using a billboard is to successfully catch the attention and create a memorable impression very quickly, leaving the reader thinking about the advertisement after they have driven past it. As a result the catchphrases on the billboards are generally written in large bold letters, the length of the phrase being short.
Over the years billboard have been playing a significant role in drawing customers attention and so, the marketers came up with different styles of billboards in order to make it look posh. Such as, digital billboards, curtain billboards, inflatable billboards and multi-purpose billboards. For our amusement park we will generally use digital billboards. The cost is going to be a lot higher than any usual curtain billboard but since our park is considered to be international in its standard, high priced billboards will definitely add value to the parks brand image, psychologically.
However, in city centers, where the billboard prices are very high, we will use multi-purpose billboards with Tell. Com antennas. Magazine and Newspaper articles and advertisements: The most communicative form of Edie is the newspapers and magazines. A number of surveys have concluded that almost 76 percentage advertisements of similar products from any company reaches the potential target market through Newspapers and Magazines. So, we would not miss that gifted opportunity to reach the endless boundary of the target mark. Any article that is critical to some extent would create a huge scope for establishing Buzz Marketing.
Television and radio commercials: The most challenging yet effective form of advertising are the television and radio commercials. Through TV commercials, viewers will be able to view parts real theme park. Similarly, radio commercials will provide information through audio interfaces. However, the greater challenge will be to connect the customers through these ads and at the same time make it look exciting. E. Pricing: We all know that the rule of pricing strategy for a new product is to either set a market penetration pricing strategy or market skimming pricing strategy.
When this service enters into the competitive market that contains a selected group, those can pay a higher price for this service. This pricing tactic often reinforces the unique, prestigious image of a quality picture of the service. If we set a price that is too low under a penetration strategy, raising the price can be very difficult. That’s why we using a skimming strategy, we can sets price too high to generate sufficient volume, it can always lower the price. The visitors of the park has to pay TX. 4000 during they enter on the park.
After that they can stay on the park all the day long. No further payment is required. However, extra charges will be charged if any visitor wants to take a training on surfing or diving. The most advantage of this pricing strategy is that we can correct pricing error easily. F. Distribution Strategy. We look forward to meet our customers satisfaction to the most yet not in a sophisticated way. And this starts right from the sales of the tickets. The ticket will be available at the counter. Once the customer collects the ticket from the counter, he can enjoy the rides for rest of the day.
However, for safety and security purpose the tickets will be printed with the customer’s name in it and at the same time the name will be saved in the customer database. G. Location and lay out: These types of refreshing park are more favorable for all type of people. But our main or target customer are young people, newly married people and foreign travelers. We also have seasonal customer by which we can earns more profit at the end of the year. We arrange 5 square kilometers of land and lease for 99 years from our government.
And each year we will give 300000 take for this lease to our government. We have total direction for 2000 to 3000 customers. There are 1 500 workers in our entire company. There are also 100 temporary and visiting workers in our company. Competitor Analysis: Existing Competitors: As we are the very first one who are launching the Wet n Wild Park in Bangladesh, so we do not have any direct competitor. But we consider the other amusement parks in Bangladesh as our indirect competitors. They are: 1 . Amusement park in Boy’s Lake , Chitchatting 2. Fantasy Kingdom, Shelia 3.
Andean Theme Park, Saver. Though they are our indirect competitors, but we differentiate ourselves from them by offering services that do not or cannot offer. Potential Competitors: If any other company or organization comes up with theme park seeing us, they may b considered as our direct or indirect competitors. Adventure Park, theme park, movie show, park for kids etc can be our competitors in future. Everyone will try to use the name of longest sea beach and also us because we will be first able to grab the visitors back in the sea shore.
If competitors will enter; definitely some impacts will come in our business. We have to reduce the price of tickets, bring up more innovative rides and stuffs, and expand our area. But it is very true that we are the launcher of sea shore theme park in Bangladesh and gradually we will grab the total market share. Plan of operation Wet n Wild park is a private limited company incorporated under the laws of laws of Bangladesh and is located in [Homeric, Cox’s Bazaar]. This form of ownership was chosen because the shares available are limited.
Additionally, shares in a private Company are usually transferred by private agreement between the seller and the buyer, as shares in a private company may not by law be offered to the general public. The ownership structure of the company is as follows: Name Ownership (%) Owners Equity Bank Loan Compensation and benefit packages The company makes sure that the employees working in the company are happy, therefore in addition to wages, they provide different compensation and benefits packages for their employees. The compensation ND benefit package of the Wet n Wild limited differs from level to level.