Perfect for a New England Vacation! Perfect for a New England Vacation! Sarah Santiago Entrepreneurship-KC December 6, 2006
Business Name Perfect for a New England Vacation! Perfect for a New England Vacation!
What Is The Granite State Inn and Restaurant? The Granite State Inn and Restaurant will be located in New England so that visitors may enjoy the best that New England can offer every season. The Inn will house 10 impeccably clean rooms: • 7 Regular • 2 Executive • 1 Presidential The Restaurant will be able to hold 40 people in it’s dining area. Perfect for a New England vacation!
Business Idea • The main idea is provide a friendly, clean environment for guests and diners. • Rooms and meals will be affordable. • Staff will focus on providing a romantic and enjoyable atmosphere to its guests and diners. • Concierge will offer local maps and suggestions on where to shop, dine, and site-see. Perfect for a New England vacation!
What Types of Rooms Will Be Offered? Executive Rooms Presidential Room Regular Rooms • Medium sized • Largest room • Smaller sized • Great for families or a couple • Perfect for a romantic weekend! • Great for families or a single person • King sized bed or queen • California King bed sized bed and pull out couch • Queen size bed or two • Couch double beds • Desk • Coffee table • Desk • TV • Desk • TV • Closet • TV • Couch • Couch • DVD player • Closet • Mini-refrigerator • Closet • Full Bathroom • Full Bathroom • Dining table • Small kitchen complete with ALL Rooms are Non-Smoking microwave, sink, and refrigerator • Full Bathroom with double sinks, a Jacuzzi tub/ shower Perfect for a New England vacation!
Amenities and Services • Room Service • Turndown Service • Complimentary Pillow • Chocolates • Complimentary High-Speed Internet • Reduced Meal Prices in The Granite State Restaurant • Balcony • Private Bathrooms • In-room Coffee Perfect for a New England vacation!
Location The Granite State Inn & Restaurant will be located in Wilton, NH. Perfect for a New England vacation!
How Is The Granite State Inn and Restaurant Different From the Many Other Inns? • The Granite State Inn has an in house restaurant that can provide food for guests and the general public. • The Granite State Inn has choices for rooms instead of one standard room. • The Granite State Inn will provide a romantic environment with a mix of décor to suite everyone’s tastes. Perfect for a New England vacation!
Who Are Potential Competitors? Name of Product/ Service Price Quality Company Stepping Stones Full Breakfast $65- Bed & Breakfast Bed and Breakfast included; $85 Home baking Wilton, NH Breakfast Birchwood I nn $85- included, I nn $110 Dining area / Temple, NH Tavern Awarded for $210- Hospitality Bedford Village I nn I nn $350 and Dining Bedford, NH Excellence $130- Crowne Plaza Lounge and $250 Hotel Pool Nashua, NH Perfect for a New England vacation!
What Is The Competitive Advantage? • Many Room Options • Dining area on the premises • Convenient Dining Hours • Great Tourism Location • Close to Airport • Access to city attractions and town attractions • Many amenities Perfect for a New England vacation!
What is the Business Organizational Structure? The Granite State Inn and Restaurant will open as a sole proprietorship. After 5 years, if the business is not as successful as I wish, I will consider taking on a partner. Perfect for a New England vacation!
Why should the Granite State Inn open as a sole proprietorship? • I want to be able to open the business by making all of the decisions. • A partnership means a friendship, and if a partnership goes sour, so will the friendship. • I have enough faith in myself that I can open and run my business on my own. Perfect for a New England vacation!
Why Is There A Possibility of A Partnership Later? • If my business is unsuccessful, I will consider taking on a partner to gain a larger spectrum of ideas. • If the company needs financial support, a partnership would disperse the financial burden. Perfect for a New England vacation!
What does Sole Proprietorship for The Granite State Inn and Restaurant Mean? • Personal Liability : Fully covered personal liability insurance to protect all of my personal assets • Sharing the profits : I have complete ownership and control of The Granite State Inn and Restaurant. I make the final decision on all business opportunities and keep all of the profits • Taxes on the Income : Personal Tax Rate (Lowest Tax Rate) • Sharing of Ideas : I will be the sole contributor of all ideas of the business. I will take classes in marketing, finance, management, and accounting. • Dissolution of the business : After 5 years if my business is not successful, I will consider taking on a partner. If something happens to me, I would give the business to my husband. • Raising Capital for future expansion : After running my business for about 10 years successfully, I will consider taking some of my profits and invest them back into the business for expansions, additions, upgrades, and refurbishments. • Ownership : Sarah Santiago Perfect for a New England vacation!
What Type of Business Is The Granite State Inn and Restaurant? Service Retail Business. Perfect for a New England vacation!
Who Is The Target Customer? • Couples looking for a romantic weekend. • Potential customers can be of any social status; however, due to room rates, the customer will probably be middle class to upper middle class. • The Granite State Inn is surrounded by a romantic atmosphere it is aiming to bring in adults of both genders Perfect for a New England vacation!
What Needs or Wants Will The Granite State Inn Fulfill? • The Granite State Inn will be able to offer rooms to anyone who may be visiting the area and needs a room. • The Granite State Inn will be able to provide a friendly, romantic, and clean environment to any guest who may want it. Perfect for a New England vacation!
What Needs or Wants Will The Granite State Restaurant Fulfill? • The Granite State Restaurant will be able to offer meals to anyone who is staying in the Inn or anyone from the general public. • The Granite State Restaurant will be able to provide an array of tasty meals to any diner. Perfect for a New England vacation!
Market Research Results • Potential guests wanted prices ranging from $150- $250. • Potential Guest would rather stay at a B&B instead of an inn, hotel, or motel. • Most potential guests would not travel during the holidays. • Most potential guests would like an antique décor paired with a romantic atmosphere. • Potential diners would like to dine in a casual atmosphere inside of the establishment they are staying at. • Potential diners would be most likely to pay $15- $20 per person. • When searching for vacation ideas, most people look on travel websites over the internet. Perfect for a New England vacation!
Survey Results Top Travel Spots Reasons for Travel Northwest Mountain Region Western Pacific Region Southwest Region Southern Region Centeral Region Great Lakes Region Eastern Region New England Region Vacation Family Perfect for a New England vacation!
Survey Results Prices Where to stay? $50-$100 $100-$150 $150-$200 $200-$250 Hotel Motel Inn B&B Perfect for a New England vacation!
Survey Results Holiday Travel Looking for Holiday Deals? Yes No Yes No Perfect for a New England vacation!
Survey Results Decor Atmosphere Antique/ Victorian Modern Lodge Style No preferance Family Friendly Romantic Business No Answer No Answer Perfect for a New England vacation!
Survey Results Where to dine? Food Preference Dining Cost Outside Inside Both Home-Style Elegant Casual No answer $5-$10 $10-$15 $15-$20 $20-$25+ Perfect for a New England vacation!
Survey Results Advertisement Methods Travel Resources Newspaper ad Magazine Article Flier Internet Search Engines Travel Websites Travel Agency AAA Books Friends Research Perfect for a New England vacation!
Influence of Market Research on Prior Business Plan • The Granite State Inn will offer guests a romantic environment with antique décor. • Rooms will be priced from $150-$300. • The Granite State Inn will offer holiday and lengthy stay deals. • Diners will have many food options priced around $15 per person. Perfect for a New England vacation!
Sales Presentation Looking for a place to stay for a romantic weekend? Do you look for friendly service, cozy rooms, and great meals? Would you like to stay in a place that offers the best of every season? The Granite State Inn and Restaurant is the perfect place to go for a New England vacation! Perfect for a New England vacation!
Business Card Perfect for a New England vacation! Sarah Santiago 90 Hearth Stone Lane Wilton, NH 01562 Phone: (603) 654-6091 Fax: (603) 654-6092 GraniteStInn@tds.net Perfect for a New England vacation!
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