Therehave been increased the need for people to meet and discuss social,formal and probably religious matter. However, with the busy scheduleof people trying to overcome the various economic hardship. It isclear that time is a limiting factor. Further, the cost of procuringa commercial place for holding these talks and conversation issignificantly high. People need to meet and socialize and willcontinue to demand these service. Given the dispersed residence ofthe people, it becomes sensible if a central place is planned for acertain meeting or social function to enable attendance of eachparticipant more conveniently. The number of people scheduled toattend such meeting can be a little bit higher which make itdifficult to hold them in our homes. People are a force to avoidthese function given the difficulty and cost related aspect ofensuring a successful meeting.
Followingthese observations, NVP has recognized a business opportunity uponwhich it can tap and develop a sustainable business. Therefore, ithas been concluded that NVP is going to draw a business plan for theintended business. Among the areas which are likely to be addressedby the new business would be to provide a convenient and costeffective venue for social and business meeting. Further, it has beenobserved that the need for people to meet will continue to be andhence, this will be a sustainable opportunity. This is not anentirely new form of business, but the existing services are way tooexpensive and discourage potential customers from accessing such. Thefindings are a result of a market survey by the company through itsinitiative. The gap existing regarding cost provide a formidablebusiness opportunity as comprehensively detailed in the plan.
Toprovide tea and other drinks while providing people with a place toquick and conducive place for holding talks.
Theabove would be the guiding mission of the business. NVP is very clearon what it wish to provide to its. We are NVP, and we wish to providepeople with a convenient place where they can hold social andbusiness meeting, small parties and business deliberations whileenjoying tea and other favorite drinks. We also wish to providepeople with an option to control their spending by choosing a varietyof bundles according to their economic might. This is to ensure thatthe people can have a right to control their spending through aselection of a mix that suits their incomes.
Theaim of NVP is to ensure provide a convenient means through whichpeople can hold business and social meeting more efficiently withoutworrying about the cost involved. I can see this as a viable businessbecause people are rational and will resolve to use this cheaper formof ensuring socializing. People barely have time to arrange formeetings but NVP will provide a means through which a quick andemergency meeting can be held without the need for prior bookingnecessary for existing service providers. The vision of the firm isto "Provide a Convenient Means of Social and Business Meeting."
Thereason behind NVP business is to ensure total control of spendingwhen holding meetings. It is also aimed at enabling people to holdemergency and short notice meeting as opposed to the traditionalstructure which required the prior booking of space. Besides, thebusiness will enable people lower their cost of business meeting andimprove the frequency of social gatherings with relatives and closefriends. All these would be enabled through the product mix that willbe provided by NVP.
Toprovide people with a place where they could take tea and drink asthey hold the meeting.
Enablea convenient method to aces meeting space for business and socialmeeting.
Lowerthe cost of meeting other people for business and social functions.
Ensurespending independence and control through selecting favorite productbundle by people.
Providea quick meeting point for people in emergencies.
Providetea, drinks and other quick fix meals for people during meetings.
Encouragesocial gathering in public places for people with their closerelatives and friends.
Easethe process of planning and scheduling business and social meetingsfor people and its related cost.
Providea venue for holding a social party like birthdays and graduationcelebration for people in a quick arrangement.
Facilitatemeetings for people in different places.
Providea quiet place where people get to enjoy a drink after a long day ofwork.
Facilitatepeople to hold quick and emergency meetings in their environment ofchoice that would be provided on the business premises to cater forvarious clients.
Bringconvenience in booking the facility because NVP would not demandprior arrangements so as to provide a place for people to hold theirmeeting.
Itwill also aim at providing people with the choice on what facility tohold their meeting which would be charged differently as opposed tooffering a uniform rate yet some meeting does not require privacy.
Ensurethat people enjoy while taking a drink after a long day of work inthe most conducive environment to facilitate relaxation and comfort.
SITUATIONALANALYSIS AND AUDIT
IndustryAnalysis and Summary
Theservice of providing facilities for business meetings and socialgathering is dominated by hotels and specific companies. These arecompanies which are specifically started to provide meeting servicesmostly social events like weeding`s and birthdays. Hotels have boardrooms where they rent to people for business and major corporation.To access these services, hotels and events companies chargesignificantly high which will not be convenient for small andindividuals. They are forced to hold such meetings at home or publicplaces due to the unbearable cost. These major players in theindustry, therefore, lock out many potential customers who are thetarget group for NVP business. Further, these players require atleast days prior notice failure to which a huge rate will be chargedor in some worst situations fail to secure a space. With theseinconveniences, it could be better if someone bridged the existinggap and offered the missing service.
NVPbusiness is built on three critical success factors. To start with,the business will provide a spacious business with different bases.Some places will be allowed for social meeting for friends andrelatives where music will be present but playing not so loudly inthe background. Other places would be secluded for such events asbirthday, and loud music would be allowed. Secondly. NVP would isproviding a convenient process to access meeting space. No priornotice would be required to rent a space as required by major playersin the industry. And number three, the business will offer theservices for holding a meeting at a lower price that what the majorhotels and events companies are offering. Tea and other drinks willbe availed at the request of the people and so will be meals andsnacks.
NVPstrengths would be its ability to provide various meeting servicesall at the same place depending on the requirements. This productdifferentiation techniques will ensure a fair rate for each meetingbase allocated to the various needs. Customers who spend less thantwo hours taking drinks are allowed to hold a meeting without pay. Byproviding room for meetings, sales for drinks and meals wouldincrease significantly. Lower costs would also attract more customersto purchase the products and access the services of the business.Convenience in booking meeting space and the liberty to choose themeeting base is what alleviate NVP business among the people.
NVPdoes not have enough specialist and suffers from the lower humanresource which can affect its operations. It is also difficult toenable people to find a group upon which they can hold binding socialconversations. This will require an enormous investment in the needsof the various customer niche and know what they need. The businesshas a small capital base which will limit research in these domainsand sustains the same since customers` needs are always changing.
Thebusiness will provide an opportunity for people to make new friendsin a cheaper and convenient place. As such, people will be attractedto visit the place once in a while and more frequently. The businessalso has a huge opportunity because the existing service providersare charging high rates significantly and if the business is in aposition to provide quality meeting space with a conducive and secureenvironments, corporate and major business may even hold a meeting inthe business premises.
Thereare many coffee houses that are established that may also offer thesame service of meetings. This way, the business may fail to get asustainable number of customers. Further, there are clients who arenot attracted to quite places and like where there is loud music ascompared to NVP premises which would maintain a soft music in thebackground except in the confined areas where loud music will beallowed. Those who like loud music may be forced to visit coffeeshops because they offer the same drinks as we do.
Theprimary business competitors would be a coffee house like Tim Horton.This is because the coffee houses are potential people to incorporateour idea in their already existing business. Also, we will be playinglow volume soft music in the background while music in many coffeeshops is always loud. Depending on the need of the people, we willhave to identify our market niche appropriately. Large hotels mayalso differentiate their products to attract the lower earningcustomer niche. This may follow our idea of basing our effort ontapping in the lower income earners niche. But depending on the levelof operations, coffee shops are the biggest competitors because theyare already established and only need to introduce these service,unlike our company.
Thebusiness premises will be divided into three operational areas. Thefirst area would be composed of big and small tables playing softmusic. It would allow people to chat and hold talks in these areas.Potential customers would be students discussing with friends becausethe environment is quite and the talking is not loud. The secondareas would contain boards and role playing games including Magic andHearthstone. Some music would be playing at a reasonable volume.Here, fanatics off these games would find other people making theexperience nice and enable making new friends. The last section wouldbe for a special purpose. Here would contain smaller rooms that canhold between ten and twenty people. People with such events asbirthdays and graduation parties can hire and enjoy there. In theseareas, loud music would be allowed. Beer and other alcoholic drinkswould be sold at the teahouse. To ensure the safety of our customers,there would be stand-by drivers employed by NVP to drive those whohave had a lot to drink. The room is fitted with acoustic insulatingmaterial and hence allow loud music and allow secret talks. Fastmeals including hamburgers and sandwich would be served on request toallow those who are discussing assignments to continue without theneed to move.
Thetea-house is located in a unique place with a view of the city and assuch would attract many clients. The venue also provides a scenery oftaking memorable photos which many people would be willing to takewhen they visit the tea-house.
Theprimary competitors of NVP tea-house are the available coffee shopsand the BG bar. However, NVP has some strategic core competency uponwhich it has to rely on to maintain and sustain the business. Thetea-house provide a chance for people to play games and cards whiletalking loudly for their pleasure. It provides more choices forcustomers than the coffee-house. The tea-house would be competitiveagainst the BG bar because it provides meals for the customers onorder which the bar fail to. People would be more attract becausethey can eat at the same point as they play and drink.
Consideringthe amount of capital, I would first rent a shop from where thetea-house would be located. The shop would then be divided into threeparts, and each section would be fitted with the appropriate items. Iwould make the lobby the section where people play cards or orderfoods and snacks. The section would be made of a big table andseveral chairs where people would sit in a round formation. This way,the people would be able to discuss their work and day experience asa group. The exchange would be important because it will create closeties with the customers who would want to meet frequently and sharetheir private and personal experiences. This would be the cassettesection with a relatively smaller number of people. I would also makecomfortable parlors for the customers. In the parlor, the customerswould be allowed to stay for long holding parties and probablyenjoying beers and other alcohol drinks.
Thehuman resource is a vital part of operations and would be my nextstep. I would employ the required number of people to carry on withthe operations. Among the employees would a chef, waiters, and adriver. I would also require a judge to oversee the games and cardsif it would be necessary. The rental shop would be that way for atleast six months upon which a decision to rent huge premises would bedone according to the performance of the business. With the hugeprofit potential of the tea-house, some games would be added as timegoes and in between the operations duration. I would be I charge ofthe whole business and solve all complaints from customers. Potential areas of setting similar tea-houses would also beidentified as the operations of NVP continue but would depend on theavailable demand of the products. I would organize periodictournaments with a voucher as gifts for the winners to encouragecustomers to attend and participate in the playing of the availablegames.
Toensure that the business is heading in the right direction, theoperations, and revenue performance would be evaluated. After somevarious consultation, I decided that the business performance wouldbe reviewed after each quarter within the financial year. This is sobecause it can help the management to adjust appropriately to thedynamics of the environment. It also helps in making a rightinvestment decision because what was planned may fail to go asexpected. Once the management learns of the impending limitation toachieving the business objectives, the operations can be altered toavoid further loss. The management can also invest appropriately ifthere are opportunities reveal through the quarterly evaluation.