Business

Launching a New Product

Scope Statement for the Project

I plan to start a hotel business in one of the busiest street in the city . With a capital of 50 ,000 , I hope it will be sufficient to start the business and at least run it until I start making profit from the business

I have carried out enough feasibility study about the location for my business and I am sure the location is very suitable location for a hotel business . I have to unsure that there will be no other competing

br hotel business in the area to ensure our hotel business will be a success . A comparison of other hotel businesses is very important in to be equipped with what other hotel businesses do in the area With at least 10 employees , we will be able to start the hotel business The following is the budgetary location for the hotel business

The hotel should have a manager who will be in a position to recruit other employees who will be in a position to help him run the business The manager will ensure that he recruits some staff who are qualified to work in the hotel business and especially those who are experienced in that kind of a job

It is very important to advertise for a new business in to make people be aware of the existence of the business . For this case , it will call for the business manager to do a vigorous advertisement for the hotel services in the area so as to ensure the hotel business in know to the prospective customers . Advertisement can be made on the newss magazines or even by use of flyers . It is also very important to renovate the premises where we intend to put a business so that the premises can look like a hotel . This will call us to restructure the premises so that we can make an attractive hotel for our customers

The following is the budgetary location for the hotel business

Activity /Particulars Duration Cost in US Dollars

Rent

Equipment

Salaries and Wages

Electricity and Water

Advertising

Miscellaneous Expenses One Month 1000

5000

5000

1000

600

2900

Rent

Salaries and Wages

Electricity and Water

Miscellaneous Expenses One Month 1000

5000

1000

2900 Rent

Salaries and Wages

Electricity and Water

Miscellaneous Expenses One Month 1000

5000

1000

2900 Rent

Salaries and Wages

Electricity and Water

Miscellaneous Expenses One Month 1000

5000

1000

2900 Rent

Salaries and Wages

Electricity and Water

Miscellaneous Expenses One Month 1000

5000

1000

2900 Rent

Salaries and Wages

Electricity and Water

Miscellaneous Expenses One Month 1000

5000

1000

2900

5000 We believe our hotel business will be a success if we use the above budgetary allocation for the business . I chose the above project since after conducting feasibility study in the area , hotel businesses are doing very well . I have also had a desire of starting a hotel business since my childhood

References

Comninos , D . and Frigenti , E (2002 : The Practice...