Business Plan on "Business Plan Lazar Tag Facility"

Business Plan 8 pages (2042 words) Sources: 4 Style: APA

[EXCERPT] . . . .

Business Plan Recreation and Leisure

Business image

The following pages focus on providing an overview on starting up a new family entertainment center, called the Quasar Lazar Family Fun Entertainment Center, which will be referred to as the Lazar Tag Facility.

In order to best understand how the new family entertainment center will be positioned, one must first be presented the general image. The Lazar Tag Facility will incorporate all activities and products offered by family entertainment centers in general. Also, the new facility aims at slightly developing this range of activities, by conducting significant research and development projects in order to find out what other activities customers would like to have at the Lazar Tag Facility.

However, given the fact that family entertainment centers' customers are usually characterized by traditionalism, the Lazar Tag Facility will introduce new special activities and offers during an extended period of time, so that customers will not be confused by the new offer.

Regarding the financial aspect, the prices of Lazar Tag Facility's products and services will be medium, and in some cases medium to high. This way, customers will expect and receive high quality products and services for the fees they are charged. This will help create a differentiated image of Lazar Tag Facility in the mind of customers. This will further lead to creating customer loyalty, which will be extremely important in certain cases.

2. Legal form of the new business

When starting up a new business, one must carefully decided the legal form of the business, as this will significantly affect the course of the business' activity and its owners. In this case there are three possible variant of legal form: limited liability company (LLC), limited liability partnership (LLP), and location-based entertainment (LBE).

In the case of the Lazar Tag facility it is recommended to register the new business as a limited liability company. A limited liability company, or an LLC, is one of the most flexible legal forms. The LLC is particularly suitable for small businesses. In this case, business owners have limited liability for the actions and debt of the business (Wikipedia, 2008). In other words, "a limited liability company (LLC) is an entity formed under state law by filing articles of organization as an LLC. Unlike a partnership, none of the members of an LLC are personally liable for its debts. An LLC may be classified for Federal income tax purposes as if it were a sole proprietorship (referred to as an entity disregarded as separate from its owner), a partnership, or a corporation (IRS, 2008).

3. Marketing

Geographical area

The Lazar Tag Facility will be located in the City of Flagstaff, the county seat of Coconino County, Arizona. Flagstaff was named No. 2 on the Best Places to Live list in 2005 by Men's Journal, and it was included in the 10 Great Towns That Will Make You Feel Young list by National Geographic (Wikipedia, 2008).

Regarding the industry of Flagstaff, the tourism sector is very developed, due to the Grand Canyon National Park, Oak Creek Canyon, and other landscapes. The demographics percentage increase for Coconino County in the past few decades was the following: in 1950: 50.8%, in 1960: 137.7%, in 1970: 43.4%, in 1980: 33%, in 1990: 32%, and in 2000: 15.3% (Wikipedia, 2008).

The continuous economic development, the city flourishing tourism activity, and the city increasing demographics represent ideal present conditions and future opportunities for starting up a family entertainment center in Flagstaff.

Competitive advantage

In this case, the competitive advantage of the new family entertainment center consists in the balance between price and quality, and product diversification. As mentioned above, the Lazar Tag Facility's products and services' prices will range between medium in most cases to high in the case of special services.

The quality of the products and services provided by the Lazar Tag Facility is expected to be high, so that customers will be completely satisfied and will come back in many occasions. Also mentioned above, one must take into consideration the diversification of products and services that the Lazar Tag Facility is preparing for its customers. At this family entertainment center customers will find services that other centers do not provide.

4. Industry profile

In the United States, the recreation and leisure industry has tremendously developed and diversified over the past few decades. The same trend characterizes the amusement industry across the world. The history of this industry speaks clearly on this industry's future: between the 1920s and the 1960s, recreation and leisure parks basically consisted in "small entertainment facilities, which offered limited amusement attractions, rides or recreational activities, were developed in areas usually in close proximity to themed amusement parks and regional resort areas" (Hix, 2006).

After this, small amusement facility operators began to understand that these activities were not enough to keep people coming and to attract even more customers. As a consequence, these operators started combine several amusement elements into one facility. As a result, the following attractions were included in these facilities: miniature golf, go-karts, and arcade games.

The strategy turned out to be extremely successful, and these new facilities became to be considered distinct market segments within the amusement industry worldwide. The number of customers is continuously increasing ever since, and so does the number of hours spent by each visitor each time they visit their favorite amusement park.

However, miniature gold, go-karts, and arcade games are not enough in order to attract new customers nowadays. The latest amusement consists in the laser tag. This is currently an industry niche, but the number of laser tag facilities increases significantly, and quite soon, the laser tag will be a respected market segment within the amusement park industry.

5. Attracting customers

One of the most important and also one of the most difficult actions that must be taken by any start-up company in the beginning of the business consists in attracting customers. The entire success of the future business relies on attracting a large base of customers from the beginning. Afterwards, this basis can be expanded, and the initial customers can become loyal customers for a very long period of time.

In our case, the Lazar Tag Facility will focus on its competitive advantage for attracting the initial customers. As mentioned above, the facility's competitive advantage consists in a good balance between price and quality for the provided products and services and the diversity of the offer.

Target segment

As described above, the Lazar Tag Facility will not deal with laser tag only, but with a very wide range of amusement attractions. The Lazar Tag Facility's target customers are teenagers that prefer this king of attraction, the laser tag. However, given the fact that the facility will provide a series of other products and services that address to all age categories, one must take into consideration the following secondary market segments for the Lazar Tag Facility: toddlers, small children, older children, and adults. When the target groups are consisted in children, it is obvious that together with these children the facility will also attract their parents. These adults must also find activities suitable for their age, preferences, and leisure requirements.

Therefore, the Lazar Tag Facility will include the following main activities:

Children's entertainment section

Eater-tainment section

Edutainment section

Adult entertainment section

Laser tag section

The children's entertainment section will include the following activities: play unit, children's rides, air bounce, birthday party areas.

The eater-tainment section will include: restaurants, pizza restaurants, beer can be served for adults, but no other fast food will be promoted or commercialized here. The reason behind taking this action is a very noble one for the Lazar Tag Facility. The business' owners do not aim at gaining profits from this resort center. The main idea is to combine entertainment with health and education. This way, parents can educate their children's preferences for food since childhood and direct them towards healthier eating habits. The Lazar Tag Facility will assist parents in this process.

The edutainment section of the Lazar Tag Facility will continue the idea described above. Children's education is very important and the educational process must start as early as possible. Therefore, the edutainment section will include: interactive water play, sand play, block play, pretend supermarkets, restaurants, medical offices, and houses.

The adult entertainment section focuses on providing as much attention to adults as the other sections of the center provide for children and teenagers. For example, this section will include: video games, pinball, virtual reality, billiards, bowling, golf simulator, a restaurant, and a bar where adults can serve mild alcoholic beverages without being in the presence of children.

The laser tag section is the sensation of the center, and it is supposed to attract the most customers, since teenagers are the target segment of customers for the new Lazar Tag Facility. The center will also include: skating centers, golf driving ranges, and sports facilities.

Pricing

As mentioned above, the Lazar Tag Facility's services will not be cheap. The price will range from… READ MORE

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