Staycation Business Plan in the UK

1. YOUR BUSINESS IDEA

Many UK nationals are expecting to holiday more in the UK in 2020, according to research by Cambridge and Counties Bank. The top reason for the UK’s staycation trend is a drop in the value of the pound caused by Brexit, which makes foreign holidays more expensive. Other reasons include: a rise in the underlying costs of overseas travel; barriers to international travel such as stricter visa requirements; tougher border controls because of Brexit.

Some ideas could include but not limited to:

·Spartan holidays

·Yoga/mindfulness retreats

·Forest micro hotels

·Tiny holiday home rentals.

Write a professional Business Plan for the new staycation business in the UK, answering all the section. Please include a short Executive summary and the table of content.

1. YOUR BUSINESS IDEA

What will your business do and what is the opportunity?

Describe, in detail, the products and/or services your business will be selling, what channels you will use to sell them and who you will sell them to.

What does your brand stand for?

What is the business philosophy and values?

Include any pictures, drawings, or links that help bring this to life.

2. YOU AND WHY YOU’RE STARTING

Tell us about yourself, where the idea came from, and how your knowledge and experience will help to make the business a success.

3. MARKET RESEARCH

3.1 The Big Picture

Describe the wider market you are planning to operate in and identify where your company will sit in this landscape, as well as any key statistics or trends to support why you have chosen this area of the market. Include evidence of demand and as many details as possible to support your choice of new venture.

3.2 Competitors

Analyse your competitors’ strengths and weaknesses.

·Name & Type of Competitor

·What will you be competing on

·Strengths of Competitor

·Weaknesses of Competitor

·Summary of How you will compete with them

·Name & Type of Competitor

·What will you be competing on

·Strengths of Competitor

·Weaknesses of Competitor

·Summary of How you will compete with them

Include information on 3-5 competitors.

4. CUSTOMER RESEARCH

Include information on test trading, direct research and evidence of demand etc.

5. MARKETING

5.1 Customer Profile

·Description of Customer

·Why are they your Customer

·Channels you will use to market to them

·Activities within channel and related costs

5.2 Route to Market

5.3.  Launch Marketing & Growth Strategies

The learning outcomes that are being assessed in this assessment are b, d, e:

b.Demonstrate the capacity for original thinking through the identification and evaluation of an unexploited market opportunity.

d.Communicate effectively with specialist and non-specialist audiences, using evidence-based approaches and selecting appropriate tools and strategies to convey meaning and purpose.

e.Build on a recognised opportunity to systematically evaluate the selected industry and produce a viable business plan.

Your grade will depend on the extent to which you meet these learning outcomes in the way relevant for this assessment. Please see the grading rubric at the end of this assessment brief for further details of the criteria against which you will be assessed.