(Istra ˇivot d.o.o) Tourist Agency
Our financial requirements for our planned adventure park in Istria.
Our business plan.
Our Business Plan, part 1.
Key Initiatives and Objectives
The primary objective of Istra ˇivot is to build a highly profitable business utilizing the assets and previous skills already acquired by the two directors. This will be achieved by building facilities which appeal to the widest spectrum of the local population, the highest number of tourists during the tourist season and encouraging the visitors from as far afield as is possible. It is noted that similar businesses in England have visitors driving for 4 hours to enjoy the rides and facilities. From Pula, this encompasses the major population centres of Rijeka, Zagreb, Ljubljana and Trieste.
The period of operations will be 12 months of the year but the park, out of season, will require bookings to be made in advance so that numbers of employed staff can be properly managed.
Our initial project includes the adrenalin fuelled high ropes adventure park, a good range of childrens activities, nature walks, relaxation areas, cafe facilities, a souvenirs outlet and plenty of educational material about the surrounding area and further excursions.
Having these facilities on such ideal land will constitute a large benefit for the company and for all sponsors.
This will be the first adventure park of its kind available to the general public within Istria and because of the very easy links with the new motorway the length of and across Istria, an easy drive from the major centres of Rijeka, Zagreb, Ljubljana and Trieste is possible.
Our market will be made up of a mixture of:
Local inhabitants (within a 3
- 4 hour drive).
It is appreciated that the market in Croatia is appreciably smaller than in the UK and across Europe because the population is much smaller. This will be compensated by having more variation in activities available than would normally be found in a single British park.
The promotional plan targets these specific groups. Outside of the tourist season it is planned to hold educational school trips. We will invite schools to have a full day at the park discovering the names of local flora and fauna, exploring the local area and giving the students specific tasks to complete during the day.
During the same period we will be able to accommodate groups from businesses who want a range of adrenalin and adventure activities which help bond friendships and work ethics.
During the tourist season, May to October, advertising promotions will concentrate on the tourists. All hotels, apartment and villa owners, tourist centres will receive regular brochure and leaflet deliveries. The park will also be included / advertised on all holiday brochures where days out and activity breaks are promoted. This includes private company promotions and government sponsored brochures.
The Internet will be used as an effective promotional avenue with our own specific dedicated website and also links and information included with all other like-minded websites, lots of You Tube video space, and inclusion in key tourist websites.
Initially a full advertising promotion will be held to launch awareness of the park and its facilities. This will include an open day for the television, radio and newspaper companies and for all the sponsors.
The widest possible usage of media will be used to reach the widest audience. One park in England we visited, expected 70,000 visitors in its first year and actually got 65,000 in its first two weeks due to extensive television and radio coverage in the days leading up to opening.
Summary of Financial Projections
Revenue projections for the first seven months of trading,
June to December 2011, total 2,362,500 kunas.
Initial set up costs and advertising are expected to be
high. 1,264,000 kunas has been estimated to be required up to the first day of
trading allowing for major advertising, buying all materials, merchandise for
selling including catering, and all equipment necessary for the day to day
running of the business.
The expenses during the next twelve month period including wages and taxes, advertising, rental of land and further purchases of materials and merchandise will be 2,934,638 kunas.
Total expenses after 19 months of trading including all set up costs, wages, taxes and stock purchases are projected to be 6,467,486 kunas.
Total income for the first 19 months of trading is projected to be 5,682,000
Our cash flow plan, from where these figures have been taken, shows that a starting capital of 1,500,000 kunas (Approx 200,000 Euros) enables the company to remain in credit at all times including the more difficult winter period. This is the amount, in total, that we are looking to have financed.
Nigel & Sue Simpson, Istria Life