Business Plan Assignment Example | Topics and Well Written Essays - 3000 words

Business Plan - Assignment Example Forecasted Cash Flow 14 Conclusion 15 References 16 Overview of Fordwell Golf Club and Its Retail Pro-Shop Fordwell Golf Club is a clandestine associated club which was developed in the year of 1935. The club is located in one of the colonised areas of Midlands with excellent transportation network. The region comprises of venerable population with high passion for golf. Moreover, the brand image of ‘Fordwell Golf Club’ is quite high as compared to other competitors in the nearby area. All other competing clubs apart from ‘Fordwell Golf Club’ also offer varied Pro Shop components along with the game of golf. Thus, it facilitates in enhancing customer satisfaction and reliability which is highly essential in order to sustain in this competitive environment. However, the professionals of ‘Fordwell Golf Club’ have only provided high attentions towards advancement in the facilities of the club thereby ignoring the Pro Shop retail part of this industry. As a result, it hindered the total revenue as well as customer satisfaction thereby hampering the brand image of the club among others. Thus, it is extremely essential to augment the retailing business along with golf as it would supplement the entire prosperity and effectiveness of club (The Professional Golfers Association Limited, 2011). Apart from these, improvement of Pro Shop business would also support and improve the coaching and training sessions of golf, which would be highly beneficial for the club. The training courses include varied modern amenities such as ‘cSwing system’ and Casio camera thereby enhancing the growth and consistency of its clients. It would also help to enhance the total number of members of golf club thereby improving the position in the region of Midlands. Thus, it would also facilitate in enhancing the total revenue, corporate image and constancy of the clients of ‘Fordwell Golf Club’ among others. Therefore, in order to achieve the vision of ‘Fordwell Golf Club’ i.e. to ‘amplify its recent profit by two times’, it is essential to renovate the Pro Shop segment of the club (The Professional Golfers Association Limited, 2011). Business Case ‘Fordwell Golf Club’ is one of the renewed clubs in the region of Midlands. In order to examine the demand of retail golf outfits in the region of Midlands, it is essential to perform a market research analysis, which is one of the significant market strategies adopted at the initial stages of any business (Nagle & Hogan, 2009). The market analysis helps to attain a clear idea about the demand of the products and its target clients. Target Clients of Retail Segment Source: (McKinley, 2002). Thus, from the above provided figure, it can be evidently revealed that the demands of retail golf outfits is quite high both within male and female genders of the society. Therefore, it can be affirmed that the idea of introduction of retail segment of ‘Fordwell Golf Club’ would be extremely beneficial for its future growth and prospects (McKinley, 2002). In order to position its retail segment, ‘Fordwell Golf Club’ could target millions of golfers both male, female youth and juniors as shown above. The infrastructure and renovation cost of retail works hops would also include ?20,000 along with certain trained and qualified assistants as well. In addition, the retail Pro Shop would include varied products such as bags, cloths, trolleys, wedges, headwear, irons, putters and shoes among others according to the tastes and the preferences of the end-users which would cost around ?10,000. Moreover, the retail Pro Shop division would also include a custom fit and repair centre for the players clubs according to the demand of clients at a reasonable cost (i.e. ?150 per head) for the club