From the information given, perform a SWOT Analysis (Strength, Weaknesses, Opportunities and Weaknesses) on this business?
The Marketing Summary:
1) Business Name: The Estates;
2) Structure: A 4 person, privately owned company with equal investment;
3) Location: Nestled deep in the mountains of Asheville, Nc on a long standing wine vineyard;
4) Date Established: Property was acquired in 2016, with bookings beginning in 2017;
5) Relevant Owner Experience: Over 40 years combined in the hospitality industry with work background in government and provate venues;
6) Products and Services: Venue for events with all inclusive packsges available that include staying on the venue grounds, wedding planning, entertainment, photography, flowers, and other options by request.
The Vision Statement: Business will continue growing in order to become the number one ranked venue in Nort Carolina, with a Long-term goal of being in the top 5 of nationally ranked venues.
Goals/Objectives: Short Term is to have the venue booked months in advance, especially during wine/grape harvesting season. Our numbers will reflect extra head counts for wine tourism only.Expected number of bookings (short term) is 20-30 per year.
In the Long term, these numbers are expected to rise by a margin of 50% to 40-50 bookings per year.
Eventually, the venue would like to expand from events and small overnight stays to local signature wines and placement of bungalows within the vineyard premises.
The Target Market will cater to the upper echelon of society who are looking for an exclusive and inclusive experience that caters to their demands. The Marketing Strategy will initially occur from word-of-mouth advertising within exclusive group.
A soft opening will be performed with reputable people and those who are influential within society's elite circles. Following this soft opening, marketing will be done through television, internet, and certain social media channels.
Finances: Since the venue has been used as a vineyard and is in excellent condition, most Finances needed will ve directed towards hiring and contracting of staff that will be utilized for events and planning. The owners will initially invest $250,000.00 each.
A summit will be held on the vineyard premises to attract new investors. Following the first year of business, the venue should be producing steady revenue after expenses are paid. Owners and Investors will be paid when busines starts making a consistent quartely profit.