Blacktown Bowling Club: Multi-Cuisine Restaurant And Kids Play Area, Essay.

Write about the Business Planning For Finance and Accounting.

About Blacktown Bowling Club

Blacktown Bowling club was opened in 1954 and its main specialities are serving multi-cuisine food along with light and hard drinks. Recently, Blacktown Bowling club has undergone with $2 million renovation. With this investment on renovation, Blacktown Club has developed a new section which includes new indoor area for kids to play. Apart from the playing area for kids, Italian inspired restaurant, Terrazzo Verdi. Blacktown Bowling Club was known for serving coffee, desert, salad and drinks but after recent renovation, certain revolutionary changes have been made in this club which have made this club a favourite destination for Aussies. Specialities of this club is Sushi trains, fresh seafood, chocolate fondue fountains and gourmet selections from various parts of the globe have been recently added in the menu of Blacktown Bowling Club. With regards to this, demand amongst the Aussies for Blacktown Bowling Club has been increased. This has led to originate various opportunities for the club to expand their functionalities in other parts of the globe (Blacktown Bowling Club, 2018a).

This business idea is bit unique as it seems to be unique and different from ordinary restaurants because it serves varieties of cuisine, drinks, coffee, varieties of shakes along with the bowling, and kids playing area. Club also provide membership benefits to its clients who have taken membership for the club. There are membership rewards which are especially given to the members of the club and these rewards are based on their past visits. In this busy world, people are not able to take out time from their busy schedules to spend some time with their loved ones infect, they are not able to find some time for themselves and whenever, they find some free time, they seeks for some better place where they could go with their friends, family members and loved ones in order to spend some quality time. Blacktown Bowling club has all those facilities and services for which people seeks and the club is capable enough for making their experience unique and relished. This club has recently opened a restaurant as Terrazzo Verdi, a place for best Italian cuisine. Apart from this, this club also offers games like Barefoot Bowls and Social Bowls which are meant to be best for people to spend best time with their friends and family members. Directors of Blacktown Club are regularly updating their services along with enhancing their activity lists for their club members. With the help of these services, club easily retain its clients along with attracting new clients. Club has a small team of top level management which includes which is as follows:

• Barry Wilson, President
• Graham Black, Vice President
• John Burgess, Director
• Warren Evans, Director
• Peter Harrington, Director
• Bob Mackay, Director
• Annie Moore, Director (Blacktown Bowling Club, 2018a)
• William North, Director
• Graeme Quinn, Director

Services offered by Blacktown Bowling Club

Every organization sets goals and objectives on the basis of their vision because without goals, an organization would not be able to frame policies and strategies for sustainable growth. Thus, every organization needs to set goals and objectives with regards to their functionalities and other aspects such as external environmental factors, competition, etc. In relation to the goals and objectives, Blacktown Club has divided their goals and objectives into three sections as short term goals, mediums-term goals and long term goals. Duration for the attainability of these goals is within 1-3 months, within 3-6 months and within 12 months respectively. In relevance to this, following are Blacktown Bowling Club’s short, medium and long term goals:

Blacktown Bowling Club is a perfect place for all age groups as their service and product offerings matches up with the requirement for all age groups. They have a kids playing area, activity area for young age group people and different varieties of cuisine which makes the club fit for all age groups. With regards to this, organizational short term goals are as follows:

• Providing quality services
• Attracting new customer segments (Blacktown Bowling Club, 2018a)
• Adopting trending promotional and advertisement techniques
• Enhancing customer engagement with the organization
• Retaining customers’ interest in the organizational activities.

These are some of the short term goals for Blacktown Bowling Club and organization has marked time period of 1-3 months to attain these goals. This will help the organization to approach to the right track through which further medium term and long term goals could be attained easily. With the attainment of short term goals, organization would be able to move forward in order to attain further goals which will ultimately enhances organizational performance along with generating opportunities to expand its functionalities in other cities in Australia as well as in the other countries across the globe.

Medium term goals are also considered as an important concept for every organization because these come into action after attaining short term goals. Thus, it is necessary for the organization to maintain the rhythm within the workplace through which medium goals could be attained followed by the long term goals. Following are some of the medium term goals for Blacktown Bowling Club:

• Making appropriate utilisation of available resources in order to make the organization walks on right track.
• Heading towards the set long term goals with regards to the benchmarks and standards of the organization.
• Attaining customer satisfaction and determining the barriers which are affecting organizational performance, if any.
• Enhancing demand, sales and revenues of the organization for the particular period i.e. 3-6 months (Daily Telegraph, 2015).
• Maintaining the interest of the target audience, existing and potential customers in the organizational activities by regularly updating organizational services’ and products’ list.

As soon as organization will be able to accomplish the desired goals and objectives for the period of 3-6 months, it will be much easy for the organization to head towards their long term goals. In addition to this, organization will also require to focus on the quality of the products and services offered to their target audience in relation with enhancing customer satisfaction.

Goals and objectives of Blacktown Bowling Club

Though, long term goals are meant to be the final target for the organizations in terms of enhancing organizational performance, enhancing customer satisfaction, enhancing sales, revenues and profitability and attaining competitive advantage, and many more. With the objective of making appropriate utilisation of available resources in terms of human, machinery, and other categories, organization is required to set appropriate benchmarks, and standards. Following are long term goals for Blacktown Bowling Club:

• Enhancing sales of the Blacktown Bowling Club by 25%
• Enhancing workforce along with retaining existing employees.
• Enhancing customer as well as employee satisfaction.
• Maintaining consistency in the organizational performance for attaining sustainable growth and overall development (Blacktown Australia, 2018).
• Heading towards expansion of the business in domestic as well as in international market.

In order to maintain the organizational performance, it is required to adopt appropriate strategies for the motive of uplifting organizational performance. Apart from this, it is also necessary for the organization to maintain consistency in their performance so that desired goals could be attained easily. Along with the consistency approach, organization is required to enhance their product and service offering in order to maintain customer engagement with the organization Blactown Bowling Club, 2018a). A decade back, Blacktown Bowling Club was known for bar, and a small place which was known for get together but after renovation, this place has become a well-known and suitable place for all age groups. Barefoot Bowl is one of the biggest attractions of Blacktown Bowling Club along with this; this club has been able to make their effective place in the competitive business environment. The major reason behind organizational success, growth and development is the amendments made by the organization in their policies, and standards. This has helped the organization to stand amongst the top clubs in Australia in terms of quality service, big list of activities and with various other attractions (Blacktown Bowling Club, 2018b). Following are some of the milestones attained by the organization:

• Blacktown Bowling Club has been able to maintain their leading position in the Australian market.
• With high quality services and multi-cuisine dishes, Blacktown Bowling Club has been able to mark an effective place amongst the customers’ mind-sets (Blacktown Bowling Club, 2018c).
• Terrazzo Verdi is a new restaurant opened under Blacktown Bowling Club and it is majorly influenced with Italian cuisine. It offers indoor Italian inspired dining and relished experience for the club members and for other guests.
• Chefs at Terrazzo Verdi are trained enough to satisfy the needs of their club members and other guests (IBIS World, 2018).
• With this restaurant, Blacktown Bowling Club has become a wonderful place for a small celebration of up to 200 guests.
• Blacktown Bowling Club also offers numerous discounts, offers and other attractive schemes on their membership fees, food and activities on special occasions. This has helped the organization to attract number new customers along with retaining existing customers (Mialon, et. al., 2016).

Due to intense competition in the club industry in Australia, some revolutionary changes have been noticed through which various opportunities have been originated for every club in relation with uplifting their performance along with making unique brand image in the target market. Blacktown Bowling Club has been able to mark it as the market leader of club industry by their huge product offering and varieties of food dishes (North, 2016). With the help of these services and unique food dishes, organization has been able to set an effective brand image in the target market (Markham & Young, 2015).   

In the last five years, number of social clubs has been increased in the market because their revenues have just gone under 50% from activities such as gambling, territorial legislation and tight state. Growth of this industry has been limited. Apart from this, alcohol consumption in Australia has seen a declined staged through which liqueur sales have been negatively affected in the last five years (Mialon, et. al., 2017). After this declined stage, industry growth is expected to rise at 0.2% after five years of negative growth in 2017-18 to $12.6 billion (Thomas & Thomas, 2015). With respect to these figures, clubs have move towards gaming facilities for the motive of sustaining in the highly intensive market conditions. Major threats and opportunities in the industry are as follows:

• Blacktown Bowling Club is facing intensive competition from other licensed venues which offer gaming facilities.
• Caps have been imposed by the government on gaming machines which have affected gambling revenues in the last five years (Barrows, et. al., 2017).
• Industry growth has been limited due to decline in the consumption of alcohol.

Milestones and achievements

In the highly competitive market conditions, organization has made its unique image by making their menu attractive and by regularly updating its service list. In relation to this, organization targets every customer group as they have services for every age group. They have separate kids section, bowling and other games for youngsters and varieties of food dishes which helps the organization to target every age group customer segments (Patiar & Mia, 2015).

Primary competitors of Blacktown Bowling Club are Seven Hills-Toongabbie RSL Club, Blacktown RSL Club, Fox Hills Golf Club, etc. Although, all these clubs are subsidiaries of Blacktown Bowling Club but still, they act as competitors (Von Culin, Tsukayama & Duckworth, 2014). Thus, it could be said that internal competition amongst these clubs are high in comparison to the external competition from other clubs in the market. All these clubs are sufficient enough to satisfy their needs and wants and in order to expand Blacktown Bowling Club in the domestic and international market, it is necessary for the organization to separate their services from its other clubs. This will also help the club to gain competitive edge over its competitors and it is also useful in terms of retaining leading position in the target market (Barrow, Borges & Meister, 2016).

Marketing plan is the major attribute for organization as it helps in spreading awareness amongst the target audience with regards to the products and services of the organization. With regards to the operations of Blacktown Bowling Club, marketing mix strategy will be sued for promoting their services in the target market as well as for the objective of originating opportunities in terms of global expansion.

Blacktown Bowling Club is a behemoth player of Australian club industry and organization has been able to sustain in the highly competitive market conditions due to consistency in their functionalities. Organization serves variety of food dishes from across the globe. Along with this, organization also serves coffee, shakes and other snacks from across the globe in order to provide relish experience to their customers. Recently, organization has opened Terrazzo Verdi, inspired by Italian cuisine and it has become a major attraction for the Aussies to visit this place. Along with this, organization has adopted change management as their primary strategy to sustain in the market for longer period of time (Bahadir, Bharadwaj & Srivastava, 2015).

This is the major factor which affects demand for the products and services. In relation with this, organization has introduced membership option for their guests to avail huge discounts on the services of the club. Apart from this, organization also provides membership rewards which could be redeemed on the further transactions. On the other hand, organization has adopted fair pricing strategy in order to attract enhance their customer segment along with enhancing their revenues, sales and profitability (Pavlou & Stewart, 2015).

Market analysis for Blacktown Bowling Club

Currently, organization is present in Australia and in order to expand their functionalities in the international and national market, organization is promoting their services and products through trending mediums of advertisement. Organization has unique set of products and services through which they could easily be able to set up their positon in other markets (Apergis, Christou & Miller, 2014).

With regards to the promotion of their products and services, organization will develop an effective marketing and promotional campaign which mainly focus on the digital mediums of advertisement. Organization targets every customer group and as the social media and internet penetration in the Australian market is huge, thus, usage of digital mediums will be an effective option in order to approach to its target customer segments. Along with this, reachability of digital mediums is much higher than the traditional mediums of advertisements; thus, organization could easily approach to its target customer segments with the platforms like social media, email, third party website promotions, official website of the organization, and many more (Huang & Sarigöllü, 2014).

Managing of risk is necessary in every organization and it involves exposure to potentially harmful situations along with developing plan to prevent those exposures as well as to address them on the basis of their occurrence period. In term of expansion of Blacktown Bowling Club’s functionalities, major risk factors are declining consumption of alcohol, competition from licensed clubs, clubs who are providing same facilities as Blacktown Bowling Club (Xu, et. al., 2014).

Risk assessment and mitigation techniques are as follows: 

• Ignorance of risk: Risk is ignored in this step and it does not create much impact over organizational performance (Atienzar, et. al., 2016).
• Acceptance of risk: Risk is accepted because it directly affects organizational performance and relevant solutions are scrutinised to obtain positive outcomes
• Transfer of risk: Risk is transferred to the third party to pay off the risk (Pedreschi, Mariotti & Granby, 2014). 

Investors can be categorised either as angel investors, venture capitalist, or other individual investors, despite the difference in their shareholdings, investment, terms of agreement and ROI, all the investors seek profit out of their investment. Some of the most anticipated exit strategies for investors in the present day are:

IPO

This is one of the most common exit strategy used by the investors, where they sell a part of the business to the general public in the form of shares. This exit strategy helps in raising the liquidity for the company which can then be utilized for paying the investors.

Merger and acquisition is another strategy which helps the investors in raising money by being part of a bigger company, it also helps the firm to keep the cash afloat (Mason & Botelho, 2016).

This can be seen as a strategy wherein investors give out their shares to individuals or a selected group of investors with the intention of raising funds for themselves. This kind of strategy does not require intervention of SEC and is less expensive and time consuming than any other strategy.

Target customer segments

In order to sum it all up, investors are really cogent and they know when to harvest the money they are going to invest in business. Most of the investors have become systematic in their approaches and plan their exit strategy and valuation well in advance. They set milestones or goals such as when the valuation of the company reaches 1 Billion USD per say, they would take their investment out with profits and move over to other profitable or start- up businesses to invest (Hawkey, 2017).    

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