Professional Documents
Culture Documents
Executive Summary: Utopia Inn Is A Business Venture Which Proposes To Help Families, Business Personnel and Even
Executive Summary: Utopia Inn Is A Business Venture Which Proposes To Help Families, Business Personnel and Even
Executive Summary: Utopia Inn Is A Business Venture Which Proposes To Help Families, Business Personnel and Even
Relaxation and stress free care is a universal and basic human need and everyone, at
some point in their lives, will require some help in gaining access to these leisurely moments.
Utopia Inn is a business venture which proposes to help families, business personnel and even
couples who want to get away from too much company/ friends to make the right choice about
the quality of leisure they demand by getting their families and themselves amongst qualified,
An analysis of the industry has shown that this business venture stands a very good
chance of surviving within the proposed market amongst the existing competition. With the
barrier to entry being low; the threat of substitution being nonexistent; the competitive rivalry
being high none the less, with Utopia Inn approach being so different from the existing
competitors; the suppliers’ power will not have any limitations see as we will have the greatest
significance of demands regardless of the two inns in close proximity, and the buyers’ power
being weak and non-existent therefore, bringing about a favorable business environment for
Utopia Inn.
On the legal aspect of the business, Utopia Inn will operate as a partnership business
structure which would be registered under the Registration of Business Names Act of 1934.
Utopia Inn has a responsibility under the Cybercrimes Act of 2010 to ensure its customers
privacy, confidentiality and integrity when the website is being used. Utopia Inn needs to abide
by laws outlined in the Labour Relations and Industrial Disputes Act when it comes to its
employees. Laws in Jamaica stipulate that a business should be properly registered through the
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Utopia Inn has strong vision and mission statements which is supported by its corporate
goals. The management team portrays strong academic, technical skills as well as work
experience to start this business venture and see it to success. Each partner will assume key roles
with supporting roles and will hire additional junior staff to aid with the daily tasks.
Utopia Inn will offer two services, Shuttle-bus tours around the island, a casino and
Lounge and accommodations all as one entity. The services are accessed through the website,
brochures and numerous social media pages. Utopia Inn eliminates all the work someone in
need of relaxation and stress free care would have to do making the services convenient for the
customers. This business venture has a lot of potential for growth in terms of expanding to new
The feasibility study conducted prior to this business plan revealed promising results for
this business venture. The study showed that there is an extremely high demand for the services
Utopia Inn intends to offer and the willingness of the potential customers to pay for each service
was also promising. There is no operation of any business without their calculated risks and
Utopia Inn has its share of potential risks, however, counter measures or rather contingency
Utopia Inn will operate with minimal staff members mostly for providing guests with
proper services. Majority of the tasks will be undertaken by the partners themselves. Majority of
the recruiting and training will be to acquire service providers to provide the services to the
customers. Service providers will be staff members; therefore, payment will be made to them
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The operations of Utopia Inn will take place in Port Antonio, Portland initially and
during its growth period we will branch out to other tourist based areas; local suppliers will
The target market includes individuals of ages 18-25 years and older. The pricing strategy
will reflect those cost the participants were willing to pay from the study done and will also
range in both value and cost based on the type of service and the value the customers perceives
to be provided with. The internet (social media) will be Utopia Inn’s primary source for
advertising and promoting but emphasis will also be place on other mediums to boost sales.
Utopia Inn will be financed mainly through the partners with secondary funding through
family and friends of the partners and a bank loan. Total funding amounted to $21,700,000.00.
The capital expenditure amounted to $10,000,000.00. An annual income statement revealed net
profits of up to $6,876,000.00 after GCT and operating with less than 100 customers requesting
throughout the year and our balance sheet amounting to $11,237,000.00This business plan will
provide details on all aspect of this business venture for a more intuitive analysis.
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Industry Analysis
In the global business market there are many types of business industry. However the
Utopia Inn would be a part of the Hotel and Tourism industry. This sector is one of the ever
growing industry in Jamaica and as such Utopia will contribute in offering the services of a tour,
a casino and an inn. Our tour will fall under the Transportation sector while our Inn and all its
The Hotel and Tourism industry in Jamaica is vastly populated with high scale hotels
with less focus on small all-inclusive inns. Utopia is aiming to capture a market which includes
working class persons along with their family and friends. Whilst we will face competition from
the small amount of inns in this market, Utopia will offer to customers a wonderful relaxing
setting at affordable rates. In making our business unique Utopia also offers a tour of the island
In the overview of the industry, we will also examine using porters five force the internal
Industry Rivalry
Our business will face competition from two other major inns within the Hotel and
Tourism Industry in that of Jamaica inn and Sandals inn. The major competitive advantage that
Utopia would have over these inns is that we cater to low income earners because our rates or set
at a reasonable price that they can afford. Our level of advertising expenses however would be
higher than that of well established firms since Utopia is just emerging so a lot would have to be
place in promotion and advertising to give us that competitive edge. The competitive strategy
that utopia inn will like to employ is to offer lower prices that is affordable and lower that our
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competitors. Our competitors however would have a higher degree of transparency than us since
Our degree of differentiation of inputs would be higher than that of our competitors
because we provide cuisines from vast amounts of cultural backgrounds and as such will need
unique raw materials to make these dishes. There will also be an impact of the inputs provided
by suppliers on the cost because suppliers often time based their cost on the availability and
distance taken to transport goods or services. There would be a small amount of substitutes in
our supply chain since our goods and services are unique. We would obtain majority of our
produce directly from our suppliers instead of going to retailers to purchase them which would
Information would be readily to our customers through our websites as well as in print
and other forms of media. Customers would not have any bargaining power on our rates or prices
offered.
Threat of Substitutes
In the Hotel and Tourism industry there will always be threat from substitute but the
services offered by Utopia inn will give us the competitive edge in the market.
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Threat of New Entrants
There will always be the threat of new entrants this could impact us but with a stable
market share we can definitely overcome these threats. The services we offer will make us less
susceptible new entrants and as such we will always have a competitive edge.
SWOT Analysis
Strengths
Reliability – Utopia inn will be reliable in that we will continually provide a relaxing setting to
our customers at an affordable rate they can all afford. At Utopia inn we will endeavor to keep
our promise of giving customers a tour of the island while enjoying the tastes of different
cuisines and an awesome experience in our elegant gaming lounge and casino.
Competence – At Utopia our staff are selected from the best Universities on the island and such
will make us fully competent in delivering service and quality. Our selection process will go
through stages in order to obtain the best of the best in our company. The games offered at our
gaming lounge/casino is of high quality and our tour services will be offered by JUTA tours
Openness – Here at Utopia we will seek to create a very transparent environment by keeping
everyone abreast about what is going on within the organization. The management of Utopia Inn
will keep in constant dialogue with staff to ensure that their working environment is up to
Weakness
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Location – In highlighting location as one of our weakness this is as such because Portland does
not have a lot of vehicular traffic compare to that of a St. Ann or Kingston so it would be hard to
attract passing customers. Many tourists often visit the Island for our beaches, one of the
drawbacks to our location is that Portland does not have a lot of beaches and that would account
Availability of resources – In order to make our different cuisines we need unique raw materials
from all over. A slow supply or shortage can have an impact on the services we offer and this is a
Lack of financial help and guidance – If our business is not financially sound this could be a
weakness because we would be spending more than what we are earning which will lead to us
ending up in bankruptcy.
Opportunities
Filling a niche – The aim of Utopia Inn is to fill a gap in the market, this gap is aim towards
satisfy the need of low income earners to obtain a tour of the island while getting a relaxing
feeling at our inn. Our inn is also equipped with a casino and gaming lounge.
Network Marketing – Proper network marketing can also seek to find business potential or
potential customers we seek to cater for. This will lead to full growth of Utopia Inn in the
industry.
to a wider market.
Threat
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Low Demand – Reduction in demand for our services will results in less persons using our
services and as such our expenses will outweigh our profits. This will then result in possible
closure or losses.
Competition – The major threats to emerging businesses in these day age is that of competition.
The competition will always seek to capture your market segment so measures will have to be
Government regulations – Government bodies set up a system where business have to pay a
portion of their earnings back as taxes. High tax rate can drive a business into the ground and
service. The most common legal constraints includes licensing, registration or permits for the
business, legal constraints as it relates to employment for instance hiring a child is illegal
(persons under the age of 18), deciding on the legal structure of the business is very important.
The legal form of Utopia Inn is that of a partnership with 6 members as partners, each members
must sign a partnership deed which is the legal document outlining the different duties and
contributions of each partner along with share of profits. Other regulatory bodies include The
Jamaica Intellectual Property Office for appropriate patents and copyrights and the Tax
Administration of Jamaica is responsible for the issuing of Tax Compliance Certificates. This is
used as proof that payments of tax liabilities and wage related statutory deductions are up-to-
date.
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SLEPT Analysis
Social Factors – The social needs of consumer such as pattern of behavior, tastes and lifestyles
is ever changing and has such the business would have to evolve around these changes to meet
the demands of our customers. We should also study the social situation of our potential
Legal Factors – There is an ever changing Government system and which comes different laws
and regulation business must follow else there will be the problem of law suits and such. The
management of Utopia Inn will then put measures in place to ensure that there is constant
monitoring of the changes in laws that might have an impact on the services provided. These
laws and regulations should not limit the services but should be followed while seeking to
Economic Factors – The constant changing in the exchange rate will have a significant impact
on our business since most of our produce would be imported to make our unique cuisines this
would have direct impact on the prices of our services offered and as such reduction in
Political Factors – The development of freedom in trade along movement of persons would lead
to greater competition as more persons would be able to source raw materials to tap in to our
market share.
Technological Factors – The developments in technology will lead to more ways to market our
business and as such it would be cheaper to market businesses on social media and on other
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Organization and Management
Vision Statement
Our vision at Utopia Inn is deliver the best service to our customers; thus, giving them
the most exciting, fun-filled, tranquil and enjoyable vacation experience ever.
Mission Statement
To be the most hospitable Inn by creating heartfelt and memorable experiences for our
guests, vast opportunities for team members, high value for our owners while providing a
Corporate Governance
Influencing and mentoring the management of Utopia Inn will be an advisory board or
committee. The advisory board does not have authority to vote on corporate matters or bear
legal fiduciary responsibilities. Board members would be selected and voted into duty careful
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Corporate Goals
Our business goals for Utopia Inn are outlined as follows:
To provide our guests with an extraordinary service.
To successfully recruit and train the most competent staff.
Resolve guest problems and never saying no without offering an alternative.
To become the most preferred hospitality brand in our region.
Continuously, assess and improve our service to meet the needs of our customers.
Managerial Competence
This refers to where our business meets the needs of our customers and the company’s
All managers at Utopia Inn will be required to have these set of competencies:
1. Proficient communication skills – The ability to listen and respond to employee concerns
and conflicts by adapting to their personality style to provide everyone with a satisfactory
outcome.
3. Provide performance feedback – Helping all employees to develop their full potential by
learn and grow thus, achieving a low turnover for the business.
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5. Maximize Leadership strengths – Consciously creating opportunities for both an
achieving workforce.
Organizational Structure
The organizational structure for Utopia Inn is a new structural design which focuses more
focus on facilitation, a general meeting can be held or in each department which allows for the
manager and their respective employees to focus on or devise a method in achieving the goals
together. This team based type of structure entails characteristics such as trust building,
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Organizational Chart
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CEO-
Tashoia Wright
Executive Assistant-
Desiree O’Connor
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Definition of the Business
Business Concept
The business idea was abstracted on the basis that everyone will require relaxation and
stress free care services at some point, be it for couples with children, senior citizens or their or
business persons. It was recognized that all three services were important to families and
individuals and therefore, it was decided among the partners to combine all three under one
entity. Families and individuals seeking the care services will be required to access the website if
they are oversees are local, and provide a bit of information as to the service they require, state
the time in which you will arrive in the country and view our background information. All of
Service providers will be recruited through the advertising of the website across the
will use print advertising in the local newspapers to get across to potential service providers. The
recruitment program will subsequently lead into a training program, three week for those who
are proven qualified and experienced while new and less qualified service providers will have a
more extensive training program for five to six weeks depending on the improvement during
trainings. Service providers will be required to provide basic service including cleaning, room
services for guests or the elderly and in relation to housekeeping they will be required to clean
the interior and immediate exterior if necessary and doing laundry. Any service outside of these
will attract additional cost to the client. All payment will be made upon arrival to the Inn which
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will make the necessary payments to the service providers based on the services provided
throughout the month. All service providers will be bounded by legal contracts which will instill
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The Business Model Canvas
Key Partners Key Activities Value Proposition Customer Relationships Customer Segments
JUTA Tours & JTB Our key activities Intimate Vacation Inn Get Customers We are creating value
are our key partners. require advertising Unique Cultural through: Advertising for our external
Our key suppliers will through television, Experience & Promotions. customers.
be local suppliers. radio, JTB (Jamaica The Inn will help to Keep Customers Our most important
Our key partners will Tourist Board), and provide the customer through: Discounts & customers will be
provide licensing of Social media. with relaxation. Membership. international
the business, perform We plan to lease and The business also aims Grow Customers: customers.
the tours and renovate a property in to be an affordable Employees to We cater to retirees,
advertise. Portland. accommodation. Customers Relations couples, working class
and Customers to people and small
Business. families.
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Cost Structure Revenue Streams
Labor, Lease and Renovation (Set Up Cost) will be the most The pricing tactics include: Price Penetration, Discounts &
important costs inherent to the business. Membership.
Labor and Renovation would be the most expensive of the three Revenue Model: Inn, Tours, Casino, Investors (JUTA, JTB etc.)
resources.
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Current Offering
Utopia Inn will currently offer three relaxation services, shuttle-bus tours of the island,
casino and gaming lounge and accommodations, to its valued customers in the Portland region.
These services will be accessible to families, business personnel and couples in need of leisure
time via the Utopia Inn website. These offerings will be the proposed solution to help families,
business personnel and couples gain quality relaxing, and family time. Utopia Inn will offer
reliability, convenience and reputable services to its clients at a price that is affordable. Utopia
Inn will also offer discounts of up to 25% to its customers for extended services and bundling of
any two services. In addition to the added value that Utopia Inn will offer, there is also a
membership service which will be available to all clients. This membership service will provide
client with text messaging and instant messaging updates of what is happening during the
seasons.
PROJECTED GROWTH
In this initial phase of Utopia Inn, the intention is start small in relation the basic services
that we offer and the geographical locations in which the services will be offered. The intention
is also to gain full control of this initial segment within two to three years. After this period, the
plan is to expand the services to other locations with Negril and Montego Bay being the
preferred initial expansion regions. The long term plan is to offer this service to every tourist
location in Jamaica and is projected to occur within five to ten years into the business operations.
Jamaica is small enough to accommodate such a rapid expansion with specified period and the
expansion should not be costly as all the necessities would have already been in place, such as
the website which will be available worldwide. The major consideration would have to be staff
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expansion and seeking service providers within the individual regions to provide the guest
services. These expansions will allow growth in Utopia Inn’s clientele and service providers and
Utopia Inn intends to offer additional services as a means of expanding the business
venture. These additional services include spa treatments and horse-back riding along the
shoreline. For the horse-back riding service, trainers will be made available to families to assist
in preparing a child or other family member for an excursion/a gallop. For the spa treatment
service, persons will be made available to assist clients for seaweed facials, mud baths,
manicures and pedicures and even massage. These additional services will be considered after
These plans for projected growth provide an opportunity for Utopia Inn to expand its
market share and consequently increase sales and eventually profits. The major aim is to attract
new and maintain existing customers by providing quality, efficient and effective services and
Utopia Inn also aims to deliver an intimate vacation inn with a unique cultural experience while
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Purpose of the Business Plan and Justification of the Business
Utopia Inn aims to deliver an intimate vacation inn with a unique cultural experience, we
are creating value for our external customers. Our international customers are most important to
our business. However, we do cater to our local market, retirees, couples, working class people
and small families. Our team here at Utopia will be the equity investors of the business from start
up, but will later on be partnering up with Jamaica Tourist Board and JUTA tours. Utopia Inn’s
aim and main objective is to become one of the most visited vacationing Inns in our country. To
accomplish this, the business has to become very successful as it relates to economic
development, customer service and personal gain and this can be done through proper planning
and the designing of a Business Plan. A business plan will act as a blueprint in how our
hospitality service will be executed in order to gain economic, social and personal benefits.
We here at Utopia Inn, have observed how critical tourism is to our Jamaican economy,
and throughout the Caribbean, Jamaica is ranked in the top 3 most visited countries. We aim to
boost Jamaica to number 1 most visited country and also aim to boost the tourism industry
overall. Our business aims to partner up with JUTA tours. We also hope to attract new investors
to help us with the expansion of Utopia Inn, having numerous Inns across the island providing
convenience for our customers and opening jobs for our locals. Our business plan will determine
how best to attract these other investors and how to become a competitive hospitality service
here in Jamaica.
Utopia seeks to provide a wonderful and exquisite cultural experience, comfort and
relaxation, perfect for vacations or one night stay overs. Utopia Inn offers all a casino lounge and
gaming arcade, also a tour across Jamaica. Our tours aim to give tourist a deep journey
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throughout the country, allowing them to have an amazing social experience with our locals.
This tour will be crucial to the Utopia brand, as it sets us apart from numerous competitors. Our
business plan will show how important these added features (casino lounge and tours) are to the
business, and also have an insight into what else our customer’s desire.
As it relates to personal benefits owning your own business is hard work and takes a lot
of planning and supervising, a business plan is a good way to keep track of the objective,
progress and growth of the business, as well as establishing an organizational structure so tasks
are distributed smoothly throughout the business. It also plays a vital role in keeping tabs on the
revenue stream, sales trend how much money is being spent and how much is being earned so as
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Business Feasibility
Utopia inn intends to offer an Inn, casino and scenic tours to our potential and actual
customers. In the initial stage of the research this idea was pitched to friends, fellow school
mates and family who was intrigued about the business idea and was eager to learn more about
the business idea. Our business idea of an inn is not popular however the idea was generally
accepted. Respondents also offered the suggestions as to where they wanted to visit on these
tours, the location and so on. The feasibility study revealed that 88% of the participants would
considered spending a vacation at our intimate cultural inn. In essence, it’s evident that persons
Analysis of Demand
Based on the information obtained from doing the feasibility study it was evident that
there is a demand in the market for our unique service being offered as 37% of respondents will
visit the utopia inn on special occasions and another 32% will visit randomly. This is mainly
because our services are affordable and this will beneficial in developing a good customer
service relationship.
Utopia Inn would include both males and females within the age group of 18-25 with the
majority being female. Hence, our potential customers will represent approximately 52% persons
of the population who will be visiting our inn and utilizing the services we offer.
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It’s crucial to indicate that the information gathered was obtained from primary research
instruments namely questionnaire and interviews which determined that the survey is credible.
Our findings were as accurate as possible because we issued ninety five questionnaire and gather
Risks
There is some amount of risk that is involved with the business operation. Therefore, we
will focus on two major namely the market risk and business of Utopia Inn.
Market Risk
These are factors that will affect the performance of business and these include:
can prove costly and can lead to waste and missed opportunities.
Pricing- a high price means that the product or service is of superior quality and this
might be risky if the product or service being delivered does not measure up to the price.
And charging a low price may signify that the product or service is of a low quality or
Target Market- targeting the wrong type of customers can be detrimental to the business
as they will not be profitable and they will miss out on the opportunities the other
segments offer.
Promotion – promotion can be risky if the business chose the wrong medium to reach its
target audience as well it can be expensive to advertise. It may offend the target audience
as well which lead to a bad reputation of the company and its brand.
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Business Risk
This is the possibility a company will have a lower than anticipated profits or experience
Strategic Risk: this is a possible source of loss that a business might incur from making
Compliance Risk: this is where the business can face legal penalties when it’s to fails to
act in accordance with the industry regulations and laws policies or practices.
Operational risk: these are possible loss that the business will face due to inadequate or
Some other possible business risks include natural disaster, inflation, and high interest
In order to manage the strategic risk we would have to get a deep understanding of the
key business strategies of the organization and communicate risk management plan to build
understanding of risk and how they are managed. For operational the business continued to be
closely monitor and reviewed and ensure that duties and task are assigned to the right people to
reduce an individual from taking advantage of the business processes and practices. For
compliance risk is put in place policies to ensure that all documentations are maintained to
maximize our effort in maintaining compliance. In terms of market risk which generally
unknown and cannot be predicted but proper planning and monitoring of processes and practices
can prevent risks. Other risk will be mitigated by ensuring that our property is covered by
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disaster recovering plan and risk management including insurance coverage and that the right
market assessment is done regularly for the sustainability and success of the business.
Environmental impact
A business should take into consideration the environmental impacts it would have in the
business or company. These would include potential and actual presence environmental
condition which may include waste or physical damage. However, this business may be faced
with solid waste problems which may results in possible environmental damage. However, we
will seek to implement measures to reduce this issue by using recycling bottle bins to collect and
distribute back to the company for recycling. We may face improper disposal of garbage but our
business will put in the necessary control measures to alleviate the problem.
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Human Resource
Human resource management is very essential within the operations of a
business/company. The human resource department is to develop and build the organization by
achieving its corporate objectives and recruiting staff members that are most competent to
complete the task at hand. The founders of Utopia Inn recognized that there was a need for a
relaxing atmosphere where people could go to unwind and enjoy Jamaica’s nature filled
environs. This has given the human resources department at Utopia Inn a critical task of
providing this atmosphere by recruiting the most competent and experience professionals to meet
this requirement.
vacancies to agencies such as Glad Helpers, to educational institutions such H.E.A.R.T training
institute and online recruiting. Once the recruiting has been completed the selection process
would then be carried out to identify the most suitable and qualified persons for interviews. The
selection process would include performance simulation tests, reviewing applications and
conducting interviews.
In the initial stages Utopia Inn would have the marketing and operations manager who
would be based at our office to monitor the overall operations and do some promotion and
marketing of our services. The administrative staff would be used for the bookings and general
administrative duties. Our auxiliary staff would consist of bar tenders, maids, gardeners, chefs
and bell boys. The tour guides and drivers who would carry out the transportation of our
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customers will be made available by JUTA Tours. Being a small enterprise the finance and
assistant manager would be responsible for the accounting and collections of payments.
Whenever a new staff member is employed at Utopia Inn an orientation session will be
conducted in order to ensure that employees are aware of their roles and responsibilities. It will
be ensured that they become acquainted, with the work unit they are a part of and the
organization as a whole. Training will be provided in the form of apprenticeship where necessary
to ensure that each staff is equipped to offer quality service to our customers. Periodic evaluation
will be conducted to assess employees’ performance so as to ensure that their duties being
carried out are aligned with their qualifications and job title and further training will be provided
in areas of deficiencies.
Compensation
Utopia Inn will provide compensation packages for all staff members, by determining a
cost effective pay structure that will attract and retain competent employees and provide
incentives to encourage them to work hard. Managers and the Administrative assistants will be
compensated on a monthly basis according to the salary scale set by the Ministry of Finance.
Support staff will be paid fortnightly salary set by the Ministry of Finance salary scale and in
accordance with minimum wages. Employees will be allowed to collect tips from customers,
breakfast, lunch and dinner will also be provided each day for every employee. Once the Inn
starts generating adequate revenue, boarding accommodations will be constructed for our
employees.
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Operational considerations
Location
Utopia inn is located in the calm cool nature filled hills of Portland Jamaica. This location is
the ideal location for our customer’s bout locals and from overseas to visit and truly enjoy
Jamaica’s beauty and to experience the true Jamaican culture to the fullest extent.
Technical requirements
At Utopia Inn the receptionist will be our first point of contact and will be present in the
lobby area to welcome our customers. Customers are expected to make contact with the
receptionist through phone calls, email and face to face contact to make bookings for rooms
ahead of their arrival. Once a booking is made arrangements will be made to transport our
customers to the Inn. The customer will be picked up at a major town of their choice. Upon a
customer’s arrival they will be required to make their payments for their accommodations and
choose the scenic tour that they want to traverse. Customers who journey to the inn without
making bookings will also be accommodated and treated with the same courteous
professionalism that Utopia Inn plans to offer. Package deals will be offered to our regular
Utopia inn is a service business the main equipment needed or computers, telephones and a
software system for our customer database. Affordable desktops will be ordered through amazon
and shipped to Jamaica. Office phones will be ordered through flow internet service.
Arrangements will be made for the software to be installed on all computers. Other equipment’s
needed would be stoves, refrigerators, deep fryers, utensils, glassware and pots for our restaurant.
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Chairs beds, tables, sofas and other furniture’s will be needed for the rooms. Gaming machines
will also be needed for the casino which will be purchased on amazon. Meats and poultry will be
supplied by our partners CB chicken and Rainforest sea foods. Resources such as buses and
couches for transportation will be provided by JUTA Tours. Further upgrades and improvements
will be made in the future after the company starts making profit.
Utilities
The national water commission will provide the Inn with clean water for our facilities and
the Jamaica Public service, being the sole distributor of electricity in Jamaica will be the Inn’s
provider of Electricity. Flow Cable Company will provide internet services and WI-FI services
for each room. IGL will supply the Inn with cooking gas for our restaurant.
Opening hours
Utopia inn will be open for 24 hours each day, so that customers can always be
accommodated also for passers-by who may just need a room for the night. Our scenic tours will
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Marketing Arrangements
Target Market
Utopia Inn seeks to target tourist and locals that visit Jamaica annually for vacations or
just need a break from their busy life. We cater to retirees, couples, working class people and
small families. The tourism industry is one of the biggest industries in Jamaica, stopover arrivals
in January 2017 were 185,873, an increase of 3.5% over the 179,559 recorded in January 2016
according to Jamaica Tourism Board. Our customers are mainly between 18-25 years old and 25-
35 years of age respectively, who mainly average income earners are (60%) and (25%) high
income earners.
Market Mix
Price
Utopia Inn would use price penetration as its most suitable pricing strategy to break into
the tourism market. Price penetration where initial prices are set low so as to attract customers to
the new hospitality service we are offering. Utopia’s basic package price would be 250USD,
which would eventually increase as the name of Utopia Inn grows. Special prices for season and
Promotion
In order for Utopia Inn to be frontline and top choice for vacationers we have to strongly
employ the use of several mediums to promote our business successfully. Having stated our
target audience being between the ages of 18-25years, Internet and social Media will be heavily
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search. Cable and Local TV will be essential for our local audience, since not everyone has
access to internet. Frequent advertisements on TVJ and CVM can help to endorse the business
and provide information to customers. Radio and Newspapers will also be utilized as another
medium, radio playing short exerts of clips advertising the business and appealing articles in the
Gleaner or Observer.
Product/Service
Utopia Inn offers an inn, gaming lounge/arcade and a scenic cultural tour. The inn offers
a warm home, cozy feeling; one will get a true utopian experience while enjoying the delicacies
offered by our wonderful array of cuisines and dishes. Our scenic tour is also key service we
provide, taking you to place across the island where one can enjoy true and rich Jamaican
beverages while site seeing, having random stops of interesting places. Another amazing service
we offer, our bonus feature, is the gaming lounge and arcade. Bonus cause the casino is always a
fun and relaxing way to spend time, giving people a chance to make some money on vacation.
Also, while these adults spend time trying to earn some cash, there will be an arcade to keep their
kids occupied.
Place/Distribution
Utopia Inn will be established in Port Antonio, Portland, in close proximity to other
tourist attractions such as Folly Ruins and Folly Lighthouse and has an amazing view of the
Navy Island. Also, Utopia hopes to give the feeling of being hidden from the rest of the world,
situated in a calm and quiet countryside engulf by palm trees and other greenery as shown in our
logo.
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Extended Marketing Mix
People
The human resources are a crucial factor to the development of Utopia Inn. Being in the
hospitality field, customers’ service will be top priority, so selecting staff is crucial, great
communicator with interpersonal skills, a friendly manner will be needed to deliver quality
service to our customers. Having a number of guests weekly a level maintenance will have to be
done as to keep the Inn looking up to par as new clients arrive. A proper technical staff along
with a high working rate of ancillary workers will be needed to keep Utopia Inn’s image and as a
top-class Inn.
Process
Utopia Inn offers many ways to make bookings, online services are provided as well as
walk in 24/7. Upon booking a room, you are informed about the tours that we provide across
Jamaica, showing the schedule time and place and additional price that the tour requires. Casino
The physical evidence of the Utopian experience and service will be ease of booking and
settling in to relax and unwind, giving you a cultured experience with our tours and cuisines and
33
Financial Considerations
Utopia Inn
Capital Expenditure Budget
Details Price Quantity $
per Unit
Working Capital
34
Utopia Inn Working Capital
Details $ Total
Purchases 500,000
Owners Salary 450,000
Employees Salary 300,000
Advertising 60,000
Utilities 50,000
Supplies 20,000
Telephone 7,000
Accounting 30,000
Legal fees 10,000
Loan payment 150,000
Maintenance 20,000
Travel expenses 20,000
Total working Capital 1,617,000
Start-up Cost
35
Utopia In Start Up Cost
$ $
Capital Expenditure 10,000,00
0
Pre-paid Expenses
Insurance 3,500,00
0
Grand Opening Advertising 500,000
Legal Fees 100,000
Accounting Fees 100,000
Employees’ Wages 800,000
Total Prepaid expenses 5,000,000
Deposits
Lease 850,000
Utilities 300,000
Tax 300,000
Total deposits 1,450,000
Building and Renovation
Construction/Renovation 5,000,00
0
Lease Household improvement 250,000
Total Location Cost 5,250,000
36
Sources of Funding
Utopia Inn
Sources of Financing
Personal Capital $ $
Tashoia Wright 2,000,000
Hugh Sinclair 1,500,000
Jordan Payne 1,000,000
Travis Bryan 1,000,000
Usheen Ewbanks 1,000,000
Desiree O'Connor 1,500,000
Total 8,000,000
Family and Friends $
Family Member 900,000
Family Member 900,000
Family Member 900,000
Family Member 1,000,000
Family Member 1,000,000
Friend 1,000,000
Friend 1,000,000
Friend 1,000,000
Friend 1,000,000
Total 8,700,000
Bank Loans
National Commercial Bank 5,000,000
Total 5,000,000
Grand Total 21,700,000
37
Sales Budget
Utopia Inn Sales Budget
Details January February March April May June July August September October November December Total
Expected 60 60 60 60 60 60 60 60 60 60 60 60 60
sales in
Units
Selling 250 250 250 250 250 250 250 250 250 250 250 250 250
Price
Total Sales 15000 15000 15000 15000 15000 15000 15000 15000 15000 15000 15000 15000 180000
(USD)
38
Cash flow Statement
Operating Expenses
Purchases 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 6,000,000
Owners' salary 450,000 450,000 450,000 450,000 450,000 450,000 450,000 450,000 450,000 450,000 450,000 450,000 5,400,000
Employees salary 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 3,600,000
Lease 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 2,400,000
Advertising 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 720,000
Utilities 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 600,000
Supplies 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 240,000
Telephone 6,647 6,647 6,647 6,647 6,647 6,647 6,647 6,647 6,647 6,647 6,647 6,647 79,764
Accounting Fees 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 360,000
Loan Payment 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 1,800,000
Maintenance 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 240,000
Travel Expenses 20,000 20,000 25,000 20,000 20,000 20,000 22,000 25,000 20,000 20,000 20,000 35,000 267,000
legal fees 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 120,000
Total Disbursement 1,816,647 1,816,647 1,821,647 1,816,647 1,816,647 1,816,647 1,818,647 1,821,647 1,816,647 1,816,647 1,816,647 1,831,647 21,826,764
Cashflow 183,353 103,353 78,353 -316,647 83,353 103,353 381,353 678,353 83,353 -316,647 -316,647 468,353 1,213,236
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Income statement
Utopia Inn Income Statement for the year ended December 2017
January February March April May June July August September October November December Total
Sales 2000000 1920000 1900000 1500000 1900000 1920000 2200000 2500000 1900000 1500000 1500000 2300000 23040000
Cost of sales 500000 500000 500000 500000 500000 500000 500000 500000 500000 500000 500000 500000 6000000
Gross Profit 1500000 1420000 1400000 1000000 1400000 1420000 1700000 2000000 1400000 1000000 1000000 1800000 17040000
Owners' salary 450000 450000 450000 450000 450000 450000 450000 450000 450000 450000 450000 450000 5400000
Employees salary 300000 300000 300000 300000 300000 300000 300000 300000 300000 300000 300000 300000 3600000
Lease 200000 200000 200000 200000 200000 200000 200000 200000 200000 200000 200000 200000 2400000
Advertising 60000 60000 60000 60000 60000 60000 60000 60000 60000 60000 60000 60000 720000
Utilities 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 50000 600000
Supplies 20000 20000 20000 20000 20000 20000 20000 20000 20000 20000 20000 20000 240000
Telephone 6,647 6,647 6,647 6,647 6,647 6,647 6,647 6,647 6,647 6,647 6,647 6,647 79764
Accounting Fees 30000 30000 30000 30000 30000 30000 30000 30000 30000 30000 30000 30000 360000
Loan Payment 150000 150000 150000 150000 150000 150000 150000 150000 150000 150000 150000 150000 1800000
Maintenance 20000 20000 20000 20000 20000 20000 20000 20000 20000 20000 20000 20000 240000
Travel Expenses 20000 20000 25000 20000 20000 20000 22000 25000 20000 20000 20000 35000 267000
Legal fees 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 120000
Depreciation 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 24000
Prepaid insurance 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 120000
Total Expenses 1328647 1328647 1333647 1328647 1328647 1328647 1330647 1333647 1328647 1328647 1328647 1343647 15970764
Income/Loss 171353 91353 66353 -328647 71353 91353 369353 666353 71353 -328647 -328647 456353 1069236
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Balance Sheet
Current Assets
Cash 1617000
Prepaid Expenses 120,000
Total current Assets 1737000
Total Assets 11,237,000
Liabilities
Current Liabilities
Telephone 79,768 79,768
Owners Equity
Tashoia Wright 2000000
Hugh Sinclair 1500000
Jordan Payne 1000000
Travis Bryan 1000000
Usheen Ewbanks 1000000
Desiree O'Connor 1500000
Total Owners Equity 8000000
Retained Earnings -1,842,768
6,157,232
Total Current Liabilities 11,237,000
41
Utopia Inn Projected Income Statement
Details 2017 2018 2019
$ $ $
Sales 23,040,000 25,804,800 26,726,400
Operating Expenses
Owners Salary 6,000,000 7,500,000 8,500,000
Employee Salaries 2,500,000 2,650,000 2,950,000
Lease payment 3,000,000 3,000,000 3,000,000
Advertising 500,000 500,000 500,000
Utilities 800,000 800,000 800,000
Supplies 150,000 150,000 150,000
Telephone 100,000 100,000 100,000
Legal fees 50,000 50,000 50,000
Maintenance 100,000 100,000 100,000
Traveling expenses 200,000 200,000 200,000
Insurance 3,000,000 3,500,000 3,500,000
42
Implementation Schedule
Implementation Schedule
Milestones Start Date Duration End Date
43
5-May 25-May 14-Jun 4-Jul 24-Jul 13-Aug 2-Sep 22-Sep 12-Oct 1-Nov 21-Nov
Gantt chart
44
Appendices
Questionnaire
Please read the questions below and place a tick in the box to the answer of your choice and write
on the lines provided below where necessary.
2. Would you consider spending a vacation or a weekend getaway at an intimate cultural inn
within Jamaica?
Yes
No
3. Tick the features below which you would like to be included in the all-inclusive
package. (You may select more than one)
Shuttle service
Gaming lounge
Casino gaming
In a mountainous area
North Coast
45
5. Would you be willing to try different cuisines/dishes?
Yes
No
46
10. Would you like to experience an interactive visit to a local community?
Yes
No
11. If yes, name any one specific place you would like to visit.
_________________________
47
Floor plan and legal documents
48
Logo
49
Travis Bryan
Colegate District
Ocho Rios P.O
Saint Ann
Tele: 1876-587-9459
______________________________________________________________________________
Career Objective: To become a competent individual with the adequate skills and knowledge to
decimate any Electrical problems that may arise in the field of Electrical Engineering.
Education:
University Of Technology (2016-present)
Brown’s Town Community College (2013-2015)
Ocho Rios High School (2008-2013)
Breadnut Hill Primary School (2003-2008)
Cole Gate Basic School (2000-2003)
Caribbean Examination Council Advanced Proficiency (CAPE) (2014-2015)
Communication Studies
Caribbean Studies
Physics I
Physics II
Electrical and Electronic technology I
Outstanding achievements: Awarded eight (8TH) position in Jamaica in the (CAPE) Electrical
and Electronic Technology unit one (1) examinations. (2014)
Awarded third (3rd) position in the Caribbean, (CAPE) Electrical and Electronic Technology unit
(2) examinations. (2015)
Experiences:
Mattcorp Power Solutions Ltd. (As an electrician)
Voluntary Service:
Breadnut Hill Primary School (assistant teacher)
St. Ann’s Bay Public Hospital (assisted the hospitals biomedical Engineer with the repair of
medical equipment.)
Skills:
Electrician
A/C Technician
51
Desiree O’Connor
River Head District
Petersfield P.O
desireeoconnor629@yahoo.com
Tele: 1-(876)389-4854
______________________________________________________________________________
Objective: To become the go to business advisor.
Education: University of Technology, Jamaica
Frome Technical High School
Unity Primary
52
Petersfield Vocational Centre
TASHOIA WRIGHT
Hope Town Road, Kingston 6, Kingston
tashoia.wright@gmail.com
Tel: 1(876) 595-5513
53
Huge Sinclair
Hope Town Road
Kingston 6
hugesinclair@outlook.com
Tele: 1(876)453-2085
______________________________________________________________________________
Objective: To obtain a high level of skills and experience in my area of work and contribute to
the organization.
(2007-2014)
Experience: I worked at the Best Dressed Feed Mill in the safety and environment department
for four consecutive summers where I assisted in carrying daily water treatment analysis and
report.
54
5b Lilford Ave
Kingston 6
Usheen Ewbanks
______________________________________________________________________________
Career objective: work in the field of advertising
CSEC 2010
55
Jordan J. Payne
117 Barbican Road, Kingston 6, Jamaica
Jordanpn5@yahoo.com||1 (876) 550-9227
______________________________________________________________________________
Career Objective: To pursue a highly rewarding career, seeking for a job in a challenging and
healthy work environment where I can utilize my skills and knowledge efficiently for
organizational and personal growth.
Education/Qualification
CSEC Passes
Mathematics
English Language A
Physics
Technical Drawing
Spanish
Geography
56
Building Technology
Social Studies
Information Technology
Experience
1. Volunteering at The First Assembly of God, Ocho Rios, as a summer bible camp teacher.
2. Past Badminton Player for the Calabar High School at Constant Spring Golf Club (D
Division).
3. Member of the Caribbean Maritime track team.
Related Activities
Member of: The Tourism in Action Club, Engineers Association of Jamaica Online.
Past member of the Calabar High School’s Teens for Tech club.
Related Skills
Able to operate engineering programs such as Solid Edge, Auto CAD, and also programs
in the Microsoft Office Series
57
Letters of commitment
Dear Mr/Mrs
We would like to take this opportunity to introduce our company. We are Rain forest sea foods
distributors, a major distributor of sea food across Jamaica. We deliver fresh meat straight from
the sea to our customers.
We believe that the services provided by Utopia Inn have a very good potential to be successful
in the tourism sector. It is in this respect that we would like to extend our interest in forming a
partnership with your company for three years. We believe that our services can well compliment
your service in further promotion of Utopia Inn and improve total customer satisfaction.
At your request I can send you our company's introductory profile in PDF format for your
perusal, or you may peruse our website at www.rainforestseafoods.com. Should you be interested
in this cooperation or have any questions in this regard, please feel free to give us a call at
(06 39269127) or send us an email at rainforestseafoods@gmail,com.
Thank you very much, and we hope to receive your favourably response soon.
58
Best regards,
Brian Jardim
Managing director rain Forrest seafood’s
Dear Mr/Mrs
We would like to take this opportunity to introduce our company. We are Jamaica union of
travellers association (JUTA) tours, one of Jamaica’s leading shuttle services. We provide
Jamaican sight-seeing tours to some of the more popular tour destinations throughout the island
of Jamaica. Jamaica sight-seeing tours have a fully qualified and experienced tour guide/drivers
available at all times to answer your questions and to provide you with the highest quality of
service available during your tour.
We believe that the services provided by Utopia Inn have a very good potential to be successful
in the tourism sector. It is in this respect that we would like to extend our interest in forming a
partnership with your company for six years. We believe that our services can well compliment
your service in further promotion of Utopia Inn and improve total customer satisfaction.
At your request I can send you our company's introductory profile in PDF format for your
perusal, or you may peruse our website at www.jutatourskingstonjm.com Should you be
interested in this cooperation or have any questions in this regard, please feel free to give us a
call at (866) 865-1059 or send us an email at info@jutatoursltd.com.
59
Thank you very much, and we hope to receive your favourably response soon.
Best regards,
Managing director JUTA Tours
60