Ownership Structure:The ownership structure of this small boutique hotel will be sole proprietorship. Business Name of the Hotel:‘Hotel Dreamland’Location:The location to establish this new business is New South Wales (NSW), Australia. It is the capital and largest city of Sydney. The population of the city is approximately 7,099,700 (most populous state). It is most beautiful spot for tourist, which is one of the main reasons to select the location for the business.
A hotel business requires a large population and tourist to target for achieving the sales. The awareness of the product or service type is an important factor to select the location for a startup company. The prospects from the city like New South Wales are also aware of the type of the services, products and industry. Entry Strategy:In order to start a small boutique hotel in the business industry of New South Wales, the most appropriate strategies would be licensing and permission through Business License Information Service. Business Potential:The aim of proposed business is to provide quality services and good experience of hotel to the large number of tourists. The business will make both the company and the client happy because the core feature of the business is to provide best and cost-effective services and products to the person who needs it.
This will also help is generating a high amount of revenue, which is one of the main . . ers. Competitor’s Analysis:In NSW, Australia, numerous hotels are providing their services to the consumers. The direct competitors of Dreamland Hotel are Hunter Valley, Wollombi, Orange and Gerringong (NSW Hotels, 2010).
All these hotels serve their customers with quality and astonishing services. All these hotels have best services and employees to give a magnificent experience to their guest. On the other hand, all these hotels have established their strong presence in the NSW’s industry (Elston, 2010). Market Segmentation:The selection of target market for Dreamland Hotel would be based on the demographic and behavioral purchasing segments. The best suitable target market for this segment is the tourists, who prefer luxury and fabulous experience of a small boutique hotel, youngsters, teenagers, middle aged men and women (Kangis & Rankin, 1996).