Travel and tourism, the industry RAD-Venture is based on, is Utah's third largest industry behind real estate and construction number one , and retail number two. The Utah Travel Council encourages business and private input on the development of tourism through public meetings statewide.
Cedar City currently attracts more than two million international visitors annually. Cedar City is so confident in its economic strength and potential, it is building a large-scale convention center, park, and sizable hotel in This will attract more of the "professional" status people that figure so prominently in RAD-Venture's market profile.
Utah, especially Southern Utah's, economic strength is stable and growing. During the past decade, Utah's economy ranked among the highest in the nation with a 5. A division of the city, Recreational Services, is responsible for providing information and organized leisure activities through local recreation businesses and nonprofit organizations. They currently distribute flyers about hikes, camps, youth activities, fun runs, and marathons. Other relevant government publics are the federal land managers; Bureaus of Land Management, U.
Forest Service agencies, National Park Systems, and state lands. RAD-Venture has existing positive working relationships with these agencies through its mountain bike tour history. The Outdoor RAD-Venture Center as a whole will have no direct competitors, in that its combination of adventure services and sales is unique to the area.
There will, however, be direct competition with certain departments within the center. The rock climbing gym will have no direct local competitors, because the closest rock climbing gyms are more than and miles away, respectively. The adventure equipment rentals and tours will have some competition only in the sports of mountain biking or rock climbing with a few local stores: Bailey's Cycles, Mountain Biking, Inc.
We feel that a recreational adventure center will provide the necessary edge on equipment rental and tour competition. RAD-Venture has secured the accounts of two lines of bicycles which are flashy, high quality, and relatively low priced. To further distinguish our store from competitors, bicycles and other equipment will be on display with "testers" for rent with a philosophy of "Try it on for size, Rent before you buy.
Since most western bicycle tour companies offer tours in the same areas, competition is strong. For example, the off-road Western Tour of Nevada, which in the last two years was created and toured almost exclusively by RAD-Venture will next season be offered by four additional national tour companies. Most tour companies rely on a combination of brochure mailers and travel listings in national special interest publications to promote their tours.
RAD-Venture is listed in eight national magazines and has produced a highly competitive color brochure for distribution. The two largest concerns with competitive forces are sales especially of bicycles and multi-day tours. The market is wide open, however for rentals, tours and indoor climbing. The Center is designed to benefit from, but not depend on, retail sales.
A potential multi-day tour guest has many outfitters to choose from when planning a mountain bike vacation. An adventure center from which multi-day tours may begin or end, will provide a more established company image for vacationers to consider when choosing. By offering a center with multiple, complementary adventures, RAD-Venture intends to attract people inside, and once inside, present a fun, inviting "hangout" atmosphere to create loyalty, increased interest, and repeat business.
RAD-Venture, through its new Center, will offer many products and services for the outdoor enthusiast. RAD-Venture will sell and rent biking, hiking, camping, and climbing essentials and gear. National brand products will be used for their quality and name recognition. The adventure sports industry has extreme pricing methods. Tour companies tend to offer either very expensive or very inexpensive tours.
Middle range prices are rare. Many inexpensive tours follow the same routes as the expensive tours, but without the support or amenities. RAD-Venture tours currently fall into the expensive category, with full support and many amenities. With the addition of an outdoor adventure center offering shuttles, maps, sales, and rental equipment separately, our market share will broaden to include participants of less expensive, self-supported adventures as well.
As business increases, RAD-Venture can offer new products and services with new prices. A variety of high, medium and low priced, self to full-supported adventures will allow changing prices without changing guest perception. To start:. It is licensed for business throughout the city of Reno, Nevada. Team synergy is probably the most important aspect of holding any company together—especially ours. If each employee was asked to explain his or her behavior and role in the company, we would still not understand RAD-Venture as a whole.
The relationships between our team members bear a "bonding" strength, that transpires as a result of pride in a small growing company, responsibility for guests' safety and satisfaction, the encouragement of new ideas, and the love of the work. Customers can sense and find security in this cohesion. In the event of absence of one or both of the owners, a full-time employee back-up manager will be previously trained to run all aspects of the business. Ownership will be willed to a third party in the immediate family.
General Managership will be willed to the back-up manager. To secure the business against natural disaster, fire, or other unforeseen destruction of property, RAD-Venture will be fully insured for reimbursement of value and continuation of business. All essential documents and computer programs and records downloaded monthly will be stored in a fire-proof safe.
RAD-Venture is beginning its fourth year of operation in Nevada, and its third year of backcountry tours in Southern Utah. The timing of the Outdoor RAD-Venture Center is significant both internally and externally to the company's progression. Internally, RAD-Venture has established the general market peak of bicycle tours and rentals in its base city.
The Nevada market contains a promising steady future, but a substantial increase in business is not likely. To ultimately ensure growth with the industry, and avoid dependency on the product, an adventure tour business must always be open to new products and destinations. Externally, immediate action on an Outdoor RAD-Venture Center is important because the window of opportunity is open for a short time only. If RAD-Venture does not act soon, it is likely someone else will.
RAD-Ventures' mission is to be a leader in the adventure sports and travel industry, not a follower. The following is a chronological list of achievements needed for the Outdoor RAD-Venture Center to open in the next few months. In the Projected Sales Forecast, the extreme fluctuations in January and February's net income are a result of less mountain bike activity in cold weather and preparation costs for the upcoming multiday tour season. In the Cash Flow Forecast and Break-even Point, the negative numbers in the first three months are due to building and start-up costs.
Toggle navigation. Photo by: Galyna Andrushko. Other articles you might like:. User Contributions:. Comment about this article, ask questions, or add new information about this topic: Name:. E-mail: Show my email publicly. Human Verification:. These people often do not want to waste their money on hiring vehicles to move about by themselves, but instead want to be escorted around places of interest by a reliable source.
Hence the need to professionally market ourselves and the services we provide, offering a service of uncompromised nature. We have identified competing companies, some firmly established, that fill the same needs as Sephats Tours. Sephats Tours is poised to take advantage of this growth and moderate competition in the city travel portion of the industry, with a dedicated and experienced staff, excellent networking, and effective management and marketing.
Sephats Tours intends to provide travel and adventure packages to tourists primarily in the Southern region, but also the whole of Botswana. Sephats Tours seeks to differentiate itself as the premier adventure mobile operator in the greater Gaborone area.
We foresee a slow initial growth in sales, as we strive to ensure we are known on the market, though operating expenses will be relatively high, and a bump in our sales and revenue generation as we spread our services during expansion. Collection days are very important. This could cause a serious problem with cash flow, because our working capital situation is chronically tight.
However, we recognize that we cannot control this factor easily, because of the relationship we wish to create with our clients. Your business plan can look as polished and professional as this sample plan. It's fast and easy, with LivePlan. Don't bother with copy and paste. Get this complete sample business plan as a free text document. Download for free. Sephats Tours Executive Summary executive summary is a brief introduction to your business plan.
It describes your business, the problem that it solves, your target market, and financial highlights.
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