Business Plan Small Cruise Business (1mil$ Business) 596u66

Business plan for Acquanetta Entertainment Cruise

F or m o r e i n f o r m a t i o n p l e a s e c o n t a c t e k a t e r i n a @ r es e a r c h o p t i m i z e r . c o m www.r es earc hopt imizer.c om +972549137013

1

by www.researchoptimizer.com



S ec t i o n O n e E xecu ti ve s u mmar y A c q u a n e t t a E n t e r t a i n m e n t C r u i s e , L T D . ( A E C ) wi l l c r e a t e a q u a l i t y wat er tr ip cru is e i n Mar in a B ay, S in g ap or e, t o s er ve t our ists c omi ng to

Singapor e.

The

cr uis e

will

be

d es i g n

to

create

qualit y

tr ip

e x p e r i e n c e t o f a m i l i e s a n d c u s t o m e r s of m os t l y a l l a g e s . A E C w i l l of f e r i t s c u s t o m e r s a n a t t r ac t i v e w a t e r e x p e r i e n c e f o r f a m i l i es a n d in d i vi du als . R at es r an g e f r om S $ 50 .0 t o S $ 25 0. 0 f or a ni g ht p ar t y c r u i s e . M a r k e t i n g wi l l i n c l u d e p r i n t a d v e r t i s i n g , a g g r e s s i v e i n t e r n e t ads , t our agents and t hr ough hot els . Start -up Cap ital E xpen ses: Des cr ipt ion

Cost, S $

Studie s an d Plan ning

25, 000

Init ial Renovatio n

50, 000

Furn ishings

25, 000

Offi ce equ ip ment

15, 000

Main tenan ce equ ip ment

25, 000

Pre open ing expe nses

125,000

Total cos t

2



S ec t i o n T w o : B u s i n e s s d es c r i p t i o n 2 . 1 . D es c r i p t i o n of t h e b u s i n es s A c q u a n e t t a C r u i s e P t e L t d . wi l l b e f or m e d as a P r i v a t e L i m i t e d C ompany in Singapor e. the

t ouris ts

mainly

A c q u a n e t t a C r u i s e w i l l f oc u s on a t t r a c t i n g

c oming

to

S ingapor e

f r om

A sian

c o u n t r i es .

c o n s i s t e n c y,

r el i ab i li t y,

L oc a t i o n w i l l b e M a r i n a S o u t h P i e r , S i n g a p o r e . Acquanet t a

C ruis e

Pte

Ltd

will

pr ovi d e

s af et y , ef f i c i e n c y a n d v a l u e f o r m o n e y w h e n d e l i v e r i n g m e m o r a b l e e x p e r i e n c e s . A c q u a n e t t a C r u i s e h as a n o p p o r t u n i t y t o d i s t i n g u i s h i t s e l f b y p r o v i d i n g s p ec i a l e x p e r i e n c e s t h a t d e l i v e r h i g h l e v e l s of s at i s f ac t i o n t o c u s t o m e r s . T h e b u s i n es s wi l l of f e r :  P a r t y p a c k a g e , of f er s n i g h t 4 h o u r s c r u i s e , w h i c h i n c l u d es : in t ern at i on al b uf f et, DJ on b o ar d, l i ve en t i tl emen t  L u n c h p a c k a g e , i n t e r n a t i o n a l b u f f et l u n c h , l i v e e n t e r t a i n m e n t , DJ on boar d  Din ne r p a ck a ge , d an c e f l ow, men u di n er, mus ic an d 2 h ou rs cruis e  W e d n e s d a y l u n c h , i n t e r n a t i o n a l b u f f et , 3 h o u r s c r u i s e w i t h D J on boar d, c omedy show  Sun d ay Lu n ch Jaz z cr ui se , 3 hours cr uis e, c ool s ounds f r om the live J azz B and, live ent er t ainment

3


 Private

p art ies,

help


or ganize

par t y

ac c o r d i n g

to

the

c u s t o m e r s p r ef e r e n c es a n d a v a i l a b l e t i m e , l i v e m u s i c , D J , l i v e ent ert ainment  Wedding

cel ebr at io n,

live

ent ert ainment ,

DJ,

mus ic,

o r g a n i z i n g c e r e m o n y ac c o r d i n g t o c u s t o m e r s p r ef e r e n c e s a n d tr adit ions C a t e r i n g wi l l i n c l u d e :  I n t e r n a t i o n a l b u f f et ( i n c l u d i n g v e g e t a r i a n a n d o r g a n i c o p t i o n s )  B ever ages  D es e r t s a n d p as t r i e s  M e n u o f c u s t o m e r s ’ c h os e 2. 1. 2. S hip descr iption Ship

wi ll

be

the

main

as s e t

of

the

business.

The

p u r p os e

of

A c q u a n e t t a w i l l b e t o p r o v i d e s h or t d i s t a n c e t o u r s , p a r t y t o u r s , w e d d i n g r e c e p t i o n s , c o r p or a t e e v e n t , t e a m b u i l d i n g an d i n c e n t i v e pr og r ams .

B as e d

on

the

ab o ve

aspects ,

the

s e ar c h

ar ound

a d v e r t i s e m e n t s w a s c o n d u c t e d a n d f i n a l d ec i s i o n w a s m a d e . T h e c om p a n y w i l l p u r c h a s e e n t e r t a i n m e n t c r u i s er , t h e p i c t u r es i l l u s t r a t e d i n F i g u r e 1 . F i g u r e 2 s h o ws t h e l a y o u t of t h e c r u i s e r . A p p e n d ix 1 i l l u s t r a t e s p e r s o n a l c o r r e s p o n d e n t s w i t h t h e o w n e r of t h e c r u i s e r a b o u t s h i p d e t a i l s ; A p p e n d i x 2 p r o v i d es f u r t h e r c r u i s e r d e s c r i p t i o n . Fig ur e 2 En ter tain men t cru i ser

4



Source: personal correspondence with the owner via em a i l s


5




Fig ur e 3 L ayou t of th e cr ui ser


6



2 . 2 . I n d u s t r y b ac k g r o u n d C r u i s e i n d u s t r y i s j u s t a s m a l l s e g m e n t of t h e v a c a t i o n i n d u s t r y , w h i c h i s i t s e l f a s m a l l p a r t of l e i s u r e i n d u s t r y . T h e c r u i s e i n d u s t r y i s f as t

gr owing

i nd ustr y,

b ef o r e

1818s

oc ean - vess el

wer e

primar y

c on c e r n e d w i t h c a r g o r a t h e r t h a n p a s s e n g e r s . I n 1 8 1 8 s B l ac k B a l l L i n e o f f er e d r e g u l a r l y s c h e d u l e d s e r v i c e s t o t h e i r p as s en g e r s . I n t h e ear ly

beginning

of

1990s

cruis e

l i n es

wer e

alr ead y

pr o vi di n g

d i f f er e n t f ac i l i t i e s a n d i n t e r n m e n t o n b o a r d , b u t t h i s b ec a m e n o t e n o u g h t o s at i s f y c u s t o m e r s ’ n e e d s . P e o p l e w a n t e d n o t j u s t t r a v e l bu t als o t o e xp l or e f or ei gn c ou n tri es an d cu lt ur es. I n 11 9 6 S il ver s ea i n v e n t e d n e w p r o g r a m s w h i c h w e r e of f e r i n g c u s t o m e r s t o e x p l o r e g e o g r a p h y , c u l t u r e a n d t r a d i t i o n s of ot h e r c o u n t r i es . H o w e v e r , n o t a l l p e o p l e c o u l d af f o r d t h o s e t r i p s ; t h i s f ac t h as c r e a t e d a g r o w i n g m a r k e t f o r s m a l l c r u i s e l i n es as w e l l a s g a v e o p p o r t u n i t i e s f o r t h e ri ver

c r u i s es .

A ppendix

3

illustr at es

the

d e vel op men t

of

cruis e

industr y in the wor ld. C u r r e n t l y , c r u i s es b ec a m e a n a t t r ac t i o n r a t h e r t h a n t h e g e o g r a p h i c c r u i s e d es t i n a t i o n s . B o t h s e a a n d e n t e r t a i n m e n t c r u i s e i n d u s t r i es h as s e e n a s i g n i f i c a n t g r o w t h o v e r t i m e a n d t h e y a r e e x p e c t e d t o g r o w f u r t h e r . T h e c r u i s e m a r k e t i s c h a r a c t e r i z e d b y e xc e l l e n t v a l u e pr oposition,

wide

appeal,

high

r at e

of

g u es t

s a t i s f ac t i o n ,

and

p os i t i v e s u p p l y v s . d e m a n d b a l a n c e . S i n g a p o r e ’ c r u i s e i n d u s t r y h as a f as t g r o w t h a n d a g r e a t p o t e n t i a l . I n 20 0 6 S in g ap or e welc omed 35 ,4 4 8 cru is e vis it ors f r om Eu r op e. B y 20 1 5, Si n g ap or e p l ans t o i n vest ar ou n d S $ 30 b il l i on in t ou ris m i n o r d e r t o ac h i e v e a 1 7 m i l l i o n i n v i s i t o r ar r i v a l s . I n 2 0 0 9 S i n g a p o r e m a d e a n a g r e e m e n t w i t h C o s t a C r u i s es l i n e s , w h i c h d o u b l e d t h e n u m b e r of v i s i t o r s t o S i n g a p o r e . S i n g a p o r e ’ e n t e r t a i n m e n t c r u i s es

7



als o h ave a gr e at gr owt h d ur i ng t h e l ast ye ars, h ow e ver th is gr owt h r ef er s t o l o n g t r i p b y t h e r i v e r , w h i l e s e g m e n t w h i c h r e p r es e n t s s h or t e n t e r t a i n m e n t r i v e r a n d s e a c r u i s es a n d c r u i s e e n t e r t a i n m e n t s t i l l i s n o t f u l l y d e v e l o p e d a n d h as a g r e a t p o t e n t i a l . 2. 2. 1 Major industr y players Cruis e

indust r y

dominat ed

by

t hr ee

major

c o m p a n i es

namel y

C ar n i v a l , R o y a l C a r i b b e a n a n d S t a r C r u is e , w h ic h c o n t r o l 3 5 % o f c r u is e s h i p s a n d 6 8 % o f b e r t h s ( ) . F i g u r e 4 i l l u s t r a t e s m a j o r s e a a n d ri ver cr uis e p l ayers wor l d wid e an d in S in g ap or e. Fig ur e 4 M aj or In d ust ry P layer s Compa ny na me

Indust ry se cto r (sea,

Do minated a rea

river ) Carn ival

S ea

W or l d w i d e , S i n g a p o r e

Royal Ca r ibbean

S ea

W or l d w i d e

Star Cruise

S ea

W or l d w i d e , S i n g a p o r e

Nor we gia n C ru ise

S ea

W or l d w i d e

Viking R iver Cru ise s

Ri ver

Eur ope

CIE R iver Cr uises

Ri ver

Eur ope

Line s

2 . 2 . 2 . S e g m e n t a t i o n of t h e i n d u s t r y G en e r a l l y , c r u i s e i n d u s t r y c a n b e d i v i d e d i n t o s e a a n d r i v e r c r u i s e s . B oth c an b e f urt h er di vi d ed i nt o f our s eg men ts b as ed on sp ecif ic

8


c h ar a c t e r i s t i c s

that

describe

the


on - boar d

l i f es t y l e

and

over all

v ac a t i o n e x p e r i e n c e . F i g u r e 6 s h o ws t h e m a i n s e g m e n t s

of t h e

in d ustr y. Figure 6 Segmentation of the Cruise Industry First class

class

Luxury class

Specialty cruise

Mass market lines, resort-style vacations, destinations that are affordable to majority of travelers Mass market lines, resort-style vacations, destinations that are affordable to majority of travelers High level of quality, personalized service, opportunity to travel to exotic destinations Focus on a destination niche or special style of cruising, such as river cruising

Large ships, capacity 20003500 people, small cabins, 3-7 nights, key wordquantity Medium ships, capacity1500-2000 people, large cabins, key word- quality Small ships, capacity 300800 people, huge cabins or suites, 5-6 stars services, key word- exclusivity Very small ships, capacity100-300 people, key wordadventure

Source: Adopted by an author from http://www.cruise4lovers.com/page/5046 Cruise%20Line%20Market%20Segmentation

2. 3. Missi on I t i s n o t a b o u t t h e w a v e s o r t h e s p e e d of t h e s h i p ; i t i s n o t a b o u t t h e s ou n d of t h e m u s i c or e n t e r t a i n m e n t p r o v i d e d . I t i s a b o u t t h e p e o p l e! A n d i t i s a b o u t t h e t a k i n g p e o p l e t o t h e n e x t l e v e l of f u n a n d ent ert ainmen t. A c q u a n e t t a C r u i s e c o r e t as k i s b as e d o n u n d e r s t a n d i n g of t h e c o r e c u s t o m e r s a n d p r o v i d e t h e h i g h e s t l e v e l of e v e n t p l a n n i n g . T h e m i s s i o n of A c q u a n e t t a C r u i s e i s t o c r e a t e a n e n v i r o n m e n t t h a t wi l l s at i s f y e x p e c t a t i o n s of c u s t o m e r s a n d t h e i r c h a n g i n g t a s t es . I n o r d e r t o s atisf y t his goal, t he c ompan y will c ontinually devel op r es pons e t o the c ust omers ’ ent er t ainment needs .

9



2 . 4 . K e ys t o s u c c es s  Fo cu s on at tract in g t our ists. T he c ompany will

f oc u s o n

d es i g n a n d e n t e r t a i n m e n t t h a t h a v e m a s s a p p e a l t o t o u r i s t s  Ex c ept io na l se rv ic e. T h e c omp an y wil l pr o vi d e h i gh q u al it y s er v i c e

t hat

leaves

i m p r es s i o n

and

keep

c on s i s t e n t

e n t e r t a i n m e n t a t m o s p h e r e as w e l l a s c r e a t e a n d s u s t a i n t h e h i g h es t l e v e l of c o n s u m e r s a t i s f ac t i o n  Penetrate

the

mar ket.

The

c ompany

will

of f er

d i f f er e n t

p r o m o t i o n , m a k e c o n t r ac t s an d g o o d r e l a t i o n s wi t h h o t e l s a n d t our oper at ors.  M anag in g fi nan ces an d cash fl o w to su pp ort capi tal gro wth . The

c ompany

will

ac h i e v e

c apit al

gr owt h

t hr ough

c as h

m a n a g e m e n t b y u s i n g b a n k ac c o u n t o n l i n e t o c l o s e l y m o n i t o r t r a n s ac t i o n s a n d f e e s as w e l l as n e g o t i a t e f or t h e b e s t p o s s i b l e c on d i t i o n s w i t h b a n k s a n d s u p p l i e r s . A d d i t i o n a l l y , t h e c o m p a n y w i l l u s e r e s o u r c e a l l oc a t i o n b y d e v e l o p i n g c a p i t a l b u d g e t f or l o n g t e r m . T h e c o m p a n y w i l l c h o o s e c a p i t a l i n v es t m e n t s w h i c h ar e

likely

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to

ear n

the

the

highest

disc ount ed

r eturns

c ash

f low

in

the

and

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other

t er m,

impor t ant

f ac t o r s .  Stri ct co ntr ol of al l th e co st s. qualit y

c ontr ol

and

c ust omer

T h e c o m p a n y w i l l as s u r e

s er vic e

while

man aging

and

c on t r o l l i n g c o s t s . T h e f i x e d a n d v a r i a b l e c os t w i l l b e r e d u c e d w h e r e p o s s i b l e t h r o u g h i n v e n t o r y r e d u c t i o n , s o m e s e r v i c es w i l l be

s u b c o n t r ac t e d ,

and

equipment

which

will

be

needed

o c c as i o n a l l y w i l l b e r e n t e d , n o t p u r c h a s e d . T h e t r a i n i n g f or p e r s o n n e l w i l l b e p r o v i d e d i n t h e p r o p e r u s e of e q u i p m e n t i n o r d e r t o a v o i d d a m a g e a n d t h e c o s t s of r e p l a c e m e n t o r r e p a i r .  C o n s i d e r e m p l o y e e s a s a n a s s e t . I n c e n t i v e s wi l l b e p r o v i d e d to

emp l o ye es,

s alar y

will

10

be

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on

pr od uc ti vi t y,

so



e m p l o y e e w i l l f e e l m o r e i n v o l v e d a s w e l l a s c o m p a n y g o a l s wi l l b e ac h i e v e d .  T i m e m a n a g e m e n t . T h e j o b of e a c h e m p l o y e e wi l l b e a n a l y z e d an d d ai l y p l an of act i ons wi ll b e d e vel op ed . 2. 5. Ob j ect i ves an d g oals  T o c r e a t e a s e r v i c e - b as e d c o m p a n y  T o d e v e l o p a s u s t a i n a b l e , p r of i t a b l e s t a r t - u p b u s i n es s  C a p i t a l i z e o n e x c e l l e n t s er v i c e s a n d c a p ac i t y s t a r t i n g f r o m t h e f irst ye ar  M a i n t a i n t i g h t c o s t s c o n t r o l , c as h f l o w a n d o p e r a t i o n s t h r o u g h aut omat ed c omput er c ontr ol  E xc e e d

S $1

mi ll i on

in

annual

by

the

t hird

ye ar

of

plan

implement at ion  Achieve c ust omer aw ar eness  Gr ow h i gh hu man r es ourc e d e vel op men t an d t r ai ni n g  E xp an d s er vic es i n 2 year s’ t i me  D evel op su p pl i er r el at i ons hi ps  Impr ove or ganizat ion str uct ur e 2 . 6 . P o t e n t i a l of t h e b u s i n es s T he gener al gr owt h in t he c ruis e indust r y as well as in ent ert ainment i n d u s t r y h a s a d ec l i n e i n 2 0 0 9 d u e t o e c o n o m y d o w n t u r n , h o w e v e r i t is r ec over in g gr ad u al l y an d e xp ect ed t o p ic k u p ver y s oon ( ) . T h e g r o w t h of t h e A c q u a n e t t a b u s i n e s s wi l l d e p e n d o n t h e t o u r i s t s ’ a r r i v a l s as w e l l as o n c o m p a n y a t t r a c t i v e n e s s . C u r r e n t l y , t o u r i s m i s one

of

the

largest

s er vic e

s ec t o r s

in

S ingapor e

().

Singapor e’

g over n men t c ont in u ous l y i n vest i ng in t ou r ism in d ustr y, b y 2 01 5 i t is p l a n n e d t o t r i p l e t h e n u m b e r of t o u r i s t s . W i t h t h e g r o w t h of t o u r i s m industr y Cruis e

the Pte

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will

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11

c ust om ers

f or

the

Ac quan et t a

A dditional

advant age

f or

the



A c q u a n e t t a g r o w t h i s l oc a t i o n . T h e v e s s e l w i l l b e l oc a t e d i n M a r i n a R es e r v o i r a n d t h e t r i p wi l l s t a r t s f r o m M a r i n a S o u t h P i e r . M a r i n a R es e r v o i r i s s t r a t e g i c a l l y l oc a t e d t e r m i n a l , l o c a t e d i n S i n g a p o r e ’ s f inanc ial hub, surr ounded by leis ur e and ent ert ainment attr act ions , which give a pot ential f or t he c ompany t o at tr act mor e t ouris ts and b y t h e f i r s t y e a r u t i l i z e t h e f u l l c a p a c i t y of t h e s h i p . B y t h e ye ar t wo Acq u an et t a C ru is e t ar g ets t o b e t h e n u mb er on e d a y e n t e r t a i n m e n t c r u i s e r , b y m a k i n g g o o d r e l a t i o n s wi t h h o t e l s w h i c h i s n e a r t h e M a r i n a S o u t h P i e r , a s w e l l as h o t e l s l oc a t e d i n S e n t o s a a n d i n t h e c i t y . A d d i t i o n a l l y , c o m p a n y w i l l p a y a t t e n t i o n o n t o u r a g e n c i es a n d o n l i n e a n d of f l i n e a d v e r t i s e m e n t s . T h e c r u i s e d e s t i n a t i o n s w i l l b e i n c r e a s e d t o t h e n e a r es t i s l a n d s , a l s o v a r i e t y o f p ac k a g e s an d en ti tl em en t pr og r ams wil l b e d evel op ed . B y t h e ye ar th r ee c omp an y pl an n i ng t o c over al l t h e i ni ti al exp ens es and

st ar t

to

s a ve

money

f or

f ur t her

exp an d i n g .

Ad d it i on al l y,

A c q u a n e t t a w i l l s e a r c h f or o p p o r t u n i t i es t o m a k e i t b u s i n es s m o r e en vi r on men t al l y f r i en dl y.

2 . 7 . U n i q u e n e s s of t h e s e r v i c e Acquanet t a

C ruis e

r epr es ents

a

unique

oppor t unit y

f or

new

e x p e r i e n c e s o n t h e b o a r d of e n t e r t a i n m e n t c r u i s e r . T h e d e v e l o p m e n t ’ l oc a t i o n a n d l ac k of d i r e c t c o m p e t i t o r s a r e m a j o r a d v a n t a g e s t o t h i s pr oject .

The

ent ert ainment S er v i c es

c ompany wit h

w i l l f oc u s

will

longer on

specialize hours

of

on

onboar d

oper at ion

you n g t r avel ers

as

t han

well

as

par ties

c ompet it ors. on f ami li es.

S er v i c es wh i c h d i f f er e n t i a t e A c q u a n e t t a C r u i s e f r o m c o m p e t i t o r s :  Live music  E n t er t a i n m e n t p r o g r a m s

12

and



 C omedy s how  D anc e on board  D es i g n of t h e s h i p  V ar i e t y of p ac k a g e s

Secti o n T hr ee: M arket in g pl an 3. 1. A n al yzi n g th e Mar k et T h e d e v e l o p m e n t of A c q u a n e t t a w i l l d e p e n d o n n u m b e r of t o u r i s t s ’ arr i val s t o Si n g ap or e, o ver al l en t ert ai n men t cr uis e’ i nd ust r y g r owt h in

S ingapor e

as

well

as

on

Acquanet t a’

mar ket ing

s tr at egy .

A c c or d i n g t o t h e d a t a f r o m t h e S i n g a p o r e A n n u a l R e p o r t o n T o u r i s m St at is tics, i n ye ar 2 01 0 Si n g ap or e h as in vest ed S $5 00 mi ll i on in t o c r u i s e a n d f er r y t e r m i n a l s i n t h e S o u t h M ar i n a . B a s e d o n t h e s a m e

13



s t at i s t i c s r e p o r t , S i n g a p o r e r e g i s t e r e d a 1 7 . 6 p e r c en t g r o w t h of vis it or ar ri vals i n J an u ar y 20 1 0. arr i val s

t o S ingapor e

f r om

F i g u r e 7 i l l u s t r a t es t h e v i s i t o r

2009 t o 2010.

I n J anuar y 2010 t he

n u m b e r of t o u r i s t s i n S i n g a p o r e r e a c h e d 9 0 8 , 0 0 0 , w h i c h 1 7 . 6 1 p e r c en t m o r e c o m p a r i n g t o J a n u a r y 2 0 0 9 . F i g u r e 8 i l l u s t r a t e s t h a t m a i n c o u n t r i es of a r r i v a l s a r e I n d o n e s i a , Ch in a, A ustr al i a, M al a ysi a an d In d i a; t h es e n u mb e r s wi ll f u rt h er r ef l ec t t h e t a r g e t m a r k e t f or A c q u a n e t t a .

Figure 7 Visitor arrivals to Singapore ’000

Visitor arrrivals to Singapore, Jan 09 to jan 10

1200 972

1000 800

882

772

791

779

Mar

Apr

690

726

750

May

Jun

845

799

845

830

Oct

Nov

908

600 400 200 0 Jan

Feb

Jul

Aug

Figure 82009 Visitor Arrivals by country, January 2010

Sep

Dec

Jan

2010

Source: Adopted by the author from Tourism Focus 2010 (ISSN 0219-4112) Singapore Tourism Board

14


180


Visitor Arrivals by country, January 2010

174

160 140

120

99

90

100

68

80 60

57 45

39

40

38

36

33

25

19

19

18

20

16

0

Source: Adopted by an author from Tourism Focus 2010 (ISSN 0219-4112), Singapore Tourism Board

A c c or d i n g t o A n n u a l R e p o r t o n T o u r i s m S t a t i s t i c s i n 2 0 0 9 t o u r i s t s spend on sights eeing and ent ert ainment S $160 millions, whic h is + 4 3 . 1 p e r c e n t as c o m p a r e t o 2 0 0 8 . 3 . 2 . T ar g e t m a r k e t A p p e n d ix 4 i l l u s t r a t e s q u es t i o n n a i r e a n d i t s d e s i g n , w h i c h w a s m a d e i n o r d e r t o a n a l y z e p o t e n t i a l t a r g e t m a r k e t of A c q u a n e t t a . A c c or d i n g t o Appendix 4, 210 quest ionnair es wer e dis tribut ed, f r om whic h 170 wer e

f illed.

A p p e n d ix 5

shows

an al ys is

of

dat a

f r om

the

q u e s t i o n n a i r e . B as e d o n t h e t o u r i s t s ’ s t a t i s t i c s a n d q u e s t i o n n a i r e t h e m a r k e t s e g m e n t f or A c q u a n e t t a i s t h e f o l l o w i n g : Mar ket s egments : G e o g r a p h ic : P o t e n t i a l c u s t o m e r s a r e v i s i t o r s f r o m A s i a n c o u n t r i es a s w e l l as f r o m A u s t r a l i a , U S a n d U K . T h e r e l o c a t i o n i n S i n g a p o r e m a y

15



b e d i v e r s e , h o w e v e r i n i t i a l l y A c q u a n e t t a wi l l t h e m a k e ac c e n t o n t ar g e t i n g t h os e w h o s e l oc a t i o n n e a r t o M a r i n a P i e r . D e m o g r a p h ic : F igure 9

i l l u s t r a t es

cust omers ;

F igur e10

dem ogr aphic out lines

the

char act er ist ics t ot al

mar ket

of

pot ential

p ot e n t i a l

f or

Acquanet t a’ cr us e. Fig ur e 9 Demogr aphi c pr ofi l es o f p ot en ti al con su mer s Age

Seniors, Baby-boom ers, young m arried couples, fam ilies w ith kids around 6- 15 ye ars old, and singles of all ages

Gen der

B o t h s e xe s w i l l b e t a r g e t e d w i t h a s l i g h t l y s k e w f o r f e m a l e s

Material status

Young fam i l i es wi l l be targeted for the w hol e pac k ages Mature fam ilies for the day tim e cru ises S i n g l e s f em a l e , a g e c a t e g o ry 1 8 -3 5 f o r a l l p a c k a g e s S i n g l e m al e a l l a g e c a t e g o ry m a i n l y f o r t h e e ve n i n g a n d n i g h t p a c k a g e s

Gen der

M a r k e t a c t i vi t i e s w i l l b e m o s t l y f o c u s o n f e m a l e s , w h o s e p r e f e r e n c e s w ill further influenc e fam ily dec is ion, as w ell as attrac t s ingle m ale

Income

M a r k e t i n g a c t i vi t i e s w i l l a p p e a r t o t h e m i d d l e i n c o m e a n d t h o s e s l i g h t l y a b o ve m i d d l e i n c o m e b r a c k e t

Occu pati on

W h i t e - c o l l a r w o r k e r s , y o u n g p r o f e s s i o n a l s , h o u s e w i ve s , s t u d e n t s

Educati on

H i g h s c h o o l g r a d u a t e s , U n i ve r s i t y

Source: this study

16

de g ree



Fig ur e 10 Tot al market p ot ent i al

Potencial customers 25% 45% 20% 10%

Young families

Groups of young people

Mature families

Singles

Source: created by an author

A c q u a n e t t a ’ m a r k e t ac t i v i t i es wi l l b e f oc u s e d o n r e a c h i n g t o u r i s t s c om i n g f r o m A s i a n c o u n t r i es a g e c a t e g o r y 1 8 t o 3 5 a n d t h o s e w h o c om e f r o m E u r o p e a n c o u n t r i es , A u s t r a l i a a n d U S a g e c at e g o r y 3 6 t o 45. Mar ket r es earc h has shown that thes e ar e t he c ust omer gr oups t h a t a r e m o r e l i k e l y t o u s e c r u i s e e n t e r t a i n m e n t s e r v i c es .

C ompan y

c on s u m p t i o n m o s t l y d e p e n d s o n e d u c a t i o n l e v e l a n d oc c u p a t i o n , b ec a u s e t h es e f ac t o r s r ef l ec t i n c o m e c a t e g o r i e s a n d l i f e s t y l e . 3. 3. Market size Acq u an et t a h a ve a g r eat ch anc e t o b e th e f i rst cr uis e r i n S i ng ap or e, pr ovi d i n g ent er t ai n men t, disc o an d b uf f et at onc e on t h e b oar d at af f o r d a b l e p r i c es . T h e i d e a of e n t e r t a i n m e n t c r u i s e r h a s p r o v e n t o b e a w i n n i n g c o n c e p t i n o t h e r m a r k e t s , s u c h as i n T h a i l a n d , V i e t n a m , B ali, U S, Eur ope and Russ ia. T he main c ust omers will be t our ist s. Si ng ap or e’ s t op vis it or - g en er at i n g mar kets i n 20 1 0 i l lust r at ed i n F i g u r e 1 1 . T h e s e f i v e c o u n t i es r e p r es e n t 5 1 % of t o t a l v i s i t o r s .

17



Fig ur e 11 To p vi si tor - g eneratin g mar kets Statistics Country of

P op u l at i on f o r

E s t im at ed r e s i d en t

E s t im at ed n u m b e r o f

arrivals

2010

p op u l at i on f or 2 0 1 1

t r a v el er s t o S i n g ap o r e

Ma l a ysia

28,274,729

28,728,607

77,000

Indonesia

242,968,342

245,613,043

163,000

China

1,348,101,350

1,400,000,000

92,000

In d ia

1,184,090,490

1,200,000,000

73,000

Australia

22,403,692

22,578,343

70,000

Source: adopted from http://geography.about.com/od/obtainpopulationdata/a/indiapopulation.htm ; http://www.prb.org/pdf07/futurepopulationofindia.pdf; http://www.geohive.com/; http://www.app.com.pk/en_/index.php?option=com_content&task=view&id=108179&Itemid=2 http://www.singstat.gov.sg/pubn/referen ce/sif2010.pdf

3. 4. Shar e of t he Mar ket A c q u a n e t t a c r u i s e m a i n g o a l i s t o c r e a t e s u s t a i n a b l e , p r of i t a b l e s t ar t - u p b u s i n e s s a n d e x p a n d s e r v i c e s i n 2 y e a r s t i m e t h e s e c a n b e d o n e v i a q u a n t i t y of

p a yi n g cl i en ts

whic h c ompany planning t o

a t t r ac t . F i g u r e 1 2 s h o ws c u s t o m e r s p o t e n t i a l g r o w t h es t i m a t e d b a s e d o n sur ve y

c onduct ed

using

m os t

pessimist ic

st at istics.

p r es e n t s d a t a b as e d o n m o r e o p t i m i s t i c n u m b e r s .

Figur e

13

T he f urt her dat a

a n d s a l es p r e d i c t i o n w i l l b e d o n e b a s e d o n p e s s i m i s t i c p r e d i c t i o n s . Figure 12 Customers potential growth (Pessimistic view) Potential customers Party package Lunch package Dinner Package Wednesday Lunch package Sunday Lunch Jazz cruise Private parties Wedding celebrations Total

Growth

Year1

Year 2

Year 3

Year 4

Year 5

5% 2% 2% 3% 3% 3%

14,600 6,000 3,650 12 7,300 10

15,330 6,120 3,723 12 7,519 10

16,097 6,242 3,797 12 7,744 13

16,901 6,367 3,873 13 7,977 13

17,746 6,495 3,950 13 8,216 14

2% 2.29%

12 31,574

12 32,726

12 33,917

13 35,157

13 36,447

Source: created by an author using data from the current study

18



Figure 13 Customers potential growth (Optimistic view) Potential customers Party package* Lunch package** Dinner Package* Wednesday Lunch package** Sunday Lunch Jazz cruise* Private parties Wedding celebrations Total

Growth

Year1

Year 2

Year 3

Year 4

Year 5

5%

25,550

26,827

28,169

29,577

31,056

5% 5% 5% 5%

18,250 25,550 18,250 25,550

19,162 26,827 19,162 26,827

20,120 28,169 20,120 28,169

21,126 29,577 21,126 29,577

22,182 31,056 22,182 31,056

5% 5% 5%

120 60 113,330

126 63 118,996

132 66 124,946

139 69 131,193

146 73 137,753

*Calculations made using 70% of cruiser capacity for evening time and weekends ** Calculations made using 50 % of ship capacity Source: created by an author using data from the current study

3. 5. S it u ati on al an al ysis an d tr en ds A d v e n t u r e c r u i s e m a r k e t i s p o i s e d f or g r o w t h . O n e of t h e r e as o n s f or this

gr owt h

is

inc r easing

a p p r ec i a t i o n

f or

s hort

t ours

and

e n t e r t a i n m e n t . T h e p o p u l a r i t y of t h e c r u i s e l e i s u r e s ec t or w i l l d e p e n d o n n u m b e r of a r r i v i n g t o u r i s t s , t h e i r l i f e s t y l e , ec o n o m i c h e a l t h i n S i n g a p o r e a s w e l l as e c o n o m i c h e a l t h o f v i s i t o r s ’ c o u n t r i es . I n o r d e r f or c o m p a n i e s t o a t t r ac t p o t e n t i a l c u s t o m e r s o n b o a r of t h e i r s h i p , man ag em en t s h ou ld f ol l ow n ew t r en ds i n t h e i n dus tr y. T h e c urr en t s i t u a t i o n i n t h e i n d u s t r y i s a l r e a d y c h a n g i n g b y a n i n f l u e n c e of tr ends:

the

d es t i n a t i o n s cruis e s hips

p as s e n g e r s

ar e

get t ing

b ec o m i n g m o r e u n u s u a l .

younger,

ships

smaller ,

C u r r e n t l y m a j o r i t y of

ar e r epl ac ed by s mall ships

and

ya chts,

als o

big the

d es t i n a t i o n s v a r y f r o m d o m e s t i c r i v e r s t r i p s t o p l a c es l i k e A n t a r c t i c a . A c c or d i n g t o A w K a h P e n g ( 2 0 1 0 ) , n e w t r e n d s c o m i n g i n d i n i n g e xp er i enc es on b oar d , such as ‘F r eest yl e C ru isi n g’ , wh er e c ust omers d o n o t r e q u i r e d r e s s c od e a n d n o s t r i c t s er v i n g s c h e d u l e s , s o m e c om p a n i e s e v e n o f f er c o o k i n g s c h o o l c r u i s es ( ) .

19


E n t er t a i n m e n t

cruis e s hips


ar e s m a l l e r

version

of

cruis e s hips,

l i m i t e d i n n u m b e r of o n b o a r d f u t u r e s a n d a m e n i t i e s . H o w e v e r , i n t w o l as t

ye ar

ent ert ainment

e xp ans i on

boom.

c r u i s es

P opular

and

t r ends

in

day

tr ips

have

ent er t ainment

a

major

c ruis e

ar e

a c t i v i t i es , a d v e n t u r e a n d t h e b i g g es t t r e n d i s t h e c o n t i n u e d e v o l u t i o n i n s h i p d e s i g n , s u c h as s w i m m i n g p o o l o n b o a r d of d a y e n t e r t a i n m e n t cruis er .

M o r e o v e r , c u r r e n t l y m a j o r i t y of e n t e r t a i n m e n t c r u i s es h a v e

l a n d - t o u r s a n d on b o a r d e n t e r t a i n m e n t . A n o t h e r t r e n d t o c on s i d e r i s f u el s u p p l e m e n t s . D u r i n g l as t 2 y e a r s t h e r e w e r e a l o t of n e w p o l i c i es d u e t o t h e i n c r e as e i n o i l p r i c es , w h i c h l e a d e d t o d r o p i n s u p p l e m e n t s f o r c r u i s e s . M o r e o v e r , t h e b o o k i n g p a t t er n s h o u l d b e c on s i d e r e d , s u c h as b o o k i n g o n l i n e a n d j u s t a t t h e l a s t m o m e n t . T h e impor t ant

t r end

in

the

indus tr y

is

‘going

Gr een’;

by t aking

an

a d v a n t a g e s of n e w t e c h n o l o g y v e s s e l s b ec o m i n g e n v i r o n m e n t a l l y f ri end l y,

c o m p a n i es

us e

emission

r eduction,

LED

windows,

wat er

ad van c ed light i ng,

pollution

w as t e w a t e r s olar

educ at ion

pow er ,

pr og r ams

p u r i f i c at i o n , energy an d

air

ef f icient

many

ot her

en vi r on men t al l y- f ri en d l y i n it i ati ves. Mar ket needs Acq u an et t a wi ll pr o vi d e c ust omers wi th en t er t ai n ment tr ips f or t h e client

wit h

a ver ag e

aver age

and

inc omes.

above I nit ially

en t ert ai n men t wil l b e pr o vi d ed on l y on

boar d;

e xp an d

to

f ur ther the

c ompan y

wat er

ent ert ainment, s uch

as

will

and

land

d i vi ng

and

* Hard adventure involves some kind of extreme and often dangerous activities, such as rock climbing, surfing, spelunking and scuba diving * Soft adventure refers to leisurely adventure

h a r d * a n d s of t * a d v e n t u r e t r i p s f or t h e w e a l t h y c l i e n t s .

Acquanet t a

w i l l s e e k f or a n y o p p o r t u n i t i es i n o r d e r t o s a t i s f y c u s t o m e r s ’ n e e d s . S e l e c t i o n : a w i d e s e l e c t i o n of o n b o a r d ac t i v i t i e s a s w e l l as w i d e v a r i e t y o f h a r d a n d s of t a d v e n t u r e t r i p s

20



Ac ce s si bi lity : t h e cus t omer c an l oc at e an ywh er e a s l on g as th e y c an r e a c h S i n g a p o r e ( f u r t h e r t h e t r a n s p o r t a t i o n t o t h e s h i p l o c a t i o n wil l b e pr o vi d ed ) Custo mer

at tenti o n:

i m p r es s i v e

pers onal

at t ention

and

over all

c u s t o m e r s a t i s f ac t i o n o n t h e h i g h l e v e l C o m p e t i t i v e p r i c e s : t h e p r i c e s f or A c q u a n e t t a w i l l b e h i g h e r t h a n f or l o c a l r i v e r c r u i s es a n d d a y s e a t r i p s , d u e t o m o r e v a r i e t y o f s er v i c e s , b u t c h e a p e r t h a n c h a r t e r y a c h t s ’ p r i c es , w h i c h t a r g e t o n l y wealthy niche. M a r k e t p r e d i c t i o n f or n e a r e s t f u t u r e S i n g a p o r e T o u r i s m B o a r d c h i ef e x e c u t i v e ( 2 0 1 0 ) p o p u l a r i t y of c r u i s e s ec t o r i s c o n t i n u i n g t o g r o w i n t h e r e g i o n . F r o m 2 0 0 9 t o 2 0 1 5 S i n g a p o r e e x p e c t t o i n c r e as e t o u r i s t ar r i v a l of a r o u n d 1 0 . 1 8 p e r c en t . B y 2 0 1 5 S i n g a p o r e p l a n n i n g t o t r i p l e t o u r i s m r ec e i p t s an d d ou bl e vis it or ar ri vals ( Si n g ap or e T our ism B oar d , 20 0 9). I n f i ve y e a r s t i m e S i n g a p o r e p l a n n i n g t o b e a d e s t i n a t i o n o f c h oi c e a n d a powerf ul

t ouris m

hub

(S ingapor e

T our is m

B oar d,

2010).

The

i m p o r t a n t s o u r c es of t o u r i s m f or S i n g a p o r e a r e M a l a y s i a , I n d o n e s i a , I n d i a a n d C h i n a . T h e i n c r e a s i n g d i s p os a l i n c o m e i n t h os e c o u n t r i es w i l l g i v e o p p o r t u n i t y f or f u r t h e r d e v e l o p m e n t of t o u r i s m i n d u s t r y as w e l l as f or e n t e r t a i n m e n t a n d c r u i s e i n d u s t r i e s . A l l t h es e c o u n t r i es a r e d e v e l o p i n g v e r y f as t . I n 2 0 0 9 C h i n a ’ s ec o n o m y e x p a n d e d b y 6 . 1 p e r c e n t a n d d i s p os a l i n c o m e r os e 1 0 . 2 p e r c e n t t o 4 , 8 3 4 Y u a n f o r t h e u r b a n r e s i d e n t s a n d b y 8 . 6 p e r c e n t f or r u r a l ( C h i n a d a i l y , 2 0 0 9 ) . I n I n d o n e s i a d i s p os a l i n c o m e h as g r o w n b y 7 . 3 6 p er c en t t o 3 5 2 , 7 8 5 ( U S d o l l a r s ) , 7 2 i n 2 0 1 0 . A t t h e s a m e t i m e d i s p os a l i n c o m e i n I n d i a h as

r os e

by

9.4

per

c ent

and

in

Mal a ysi a

by

5. 80

per

c ent

( E u r o m o n i t o r I n t e r n a t i o n a l , 2 0 1 0 ) . A l l c o u n t r i es a l s o e x p e c t i n g a v e r y g o o d g r o w t h f or t h e f u t u r e , f o r e x a m p l e M a l a y s i a n g o v e r n m e n t

21



p l a n s t o s p e n t U S $ 6 5 b i l l i o n f o r d e v e l o p m e n t a n d i n c r e as e a v e r a g e inc ome r at e of 6 p er c en t p er an n u m o ver n ext f i ve years ( Asi a P ac i f i c N e w s , 2 0 1 0 ) . C o m p e t i t o r a n a l ys i s C o m p a n y wi l l c o n s i d e r t h os e w h o o p e r a t e f r o m t h e s am e p o r t as a c om p e t i t o r .

F igure

29

p r ovi d es

d es c r i p t i o n

of

the

c ompet it ors.

A p p e n d ix 5 g i v e s d e s c r i p t i o n of t h e c o m p a n i es w h o p r o v i d e s i m i l a r s er v i c e s i n o t h e r a r e a s . D i r ec t c o m p e t i t o r s w i l l b e W at e r t o u r s P r e L t d a n d S i n g a p o r e I s l a n d C r u i s e d u e t o t h e s a m e p r i c e c a t e g o r i es . O t h e r c o m p a n i e s a r e n o t c o n s i d e r e d a s c o m p e t i t o r s b ec a u s e t h e y t ar g e t d i f f er e n t c u s t o m e r s , s ec o n d a r e m o r e c o n c e n t r a t e o n n i c h e mar ket

and

wealt hy

t r avelers ,

while

Ac q uanet t a

t ar g e t

wi l l

be

tr avel ers wit h a ver ag e inc om e an ab o ve aver ag e. Figure 29 Competitors’ description Company name Water tours Pre Ltd (Appendix6)

Type of competition Direct competitor

Singapore Island Cruise (Appendix7)

Direct competitor

Aqua Voyage (Appendix8)

In direct

HARBOUR QUEEN Cruise Ship Super Yacht Long Ranger

In direct In direct

Services  Morning Glory (tea, coffee, 2,15h)  Dragon (2.15 h)  Afternoon cruise with high tea  Imperial Dinner (buffet, 2.2h) Daily ferry transport services to Kusu and St John’s Island  Escapade  Coastal Cruising  Liberty Day  Starlight Voyage  All sea tours, all include unlimited servings of non alcoholic beverages and light snacks onboard 3 hour cruise per group

Price Adult S$27 Child S$14

Morning trip Afternoon trip Evening trip Full day Dockside Overnight charters

Adult S$27 Child S$14 Adult S$32 Child S$16 Adult S$55 Child S$29 Adult S$15 Child S$12    

10am-10pm S$2,600 1pm-5pm S$3,300 10am-6pm- S$4,600 11pm to 9am S$ -5,100



S$9,000

     

S$ S$ S$ S$ S$ S$

3,000 4,350 4,150 5, 350 3,050 6,050

Source: Aqua Voyage http://www.aquavoyage.com/sunseeker -r.html; HARBOUR QUEEN Cruise Ship http://www.super-yacht-charter.com/yacht_details.php?pid=3122 ; Super Yacht Long Ranger http://www.yachtlongranger.com/charter-fees.html

22



3 . 6 . S W OT A n a l y s es f or A c q u a n e t t a F i g u r e 1 4 i l l u s t r a t e s t h e k e y s t r e n g t h a n d w e a k n e s s es wi t h i n t h e A c q u a n e t t a a n d d es c r i b es o p p o r t u n i t i e s a n d t h r e a t s . Fig ur e 13 SWO T A n al ysi s Strengths  Excellent, highly trained staff  Unique services  Well designed ship  from government (tax incentives for new entry)  Well established tourism  Country awareness Opportunities  Growing market  The ability to spread fixed management overhead costs oven an increasing number of offered trips  Create good relationship with suppliers  Find good entertainment team  Find an excellent chef  Favorable demographic trends  Improved enger traffic  Technology opportunities  Tax law becomes more liberal  Increased disposable income

Weaknesses  A challenge to find employees who lacking of customer-centric attitude  A struggle to continuously offer new and exciting trips  Maintaining the level of quality  Increasing expenses Threats  A downturn in economy will affect the travel industry  The entrance of new rivals  Weather conditions  Rise in fuel prices  Increase in port cost  Pollution becoming an increasing issue  Fewer married couples  Increased inspection on cruise industry  Government looking to increase taxes on cruises  Industry expansion (capacity increasing faster than demand)  Dependence on travel agents

Source: created by an author

A d d i t i o n a l u n d e r s t a n d i n g of t h e e n v i r o n m e n t i n wh i c h A c q u a n e t t a w i l l oper at e

c an

en vi r on men t

be

s een

sc anning

in

Appendix8 ,

thr ough

P or t er’s

thr ou g h PE ST EL an al ys is.

23

which f i ve

p r o v i d es

f or c e s

m ar k e t

an al ys is

an d



3.7. Marketing strategy 3. 7. 1. P ositioning A c q u a n e t t a w i l l p o s i t i o n i t s e l f as r e l i a b l e , e n v i r o n m e n t a l l y f r i e n d l y , f u n c r u i s e s e r v i c e a t af f or d a b l e r a t e s a p p r o p r i a t e f or i n d i v i d u a l s a s w e l l a s f or f a m i l i e s . A c q u a n e t t a w i l l a c h i e v e t h e t a r g e t e d p o s i t i o n t h r o u g h c o m p e t i t i v e e d g e b y ac h i e v i n g h i g h c u s t o m e r s a t i s f ac t i o n , a d v e r t i s e m e n t t h r o u g h ‘ w o r d of m o u t h ’ a n d r e t u r n i n g c u s t o m e r s . E n v i r o n m e n t a l i s s u es wi l l b e ac h i e v e d t h r o u g h :  C l e a n es t b u r n i n g w i l l b e s e l e c t e d  C r u i s e r h a s f ou r - s t r o k e m o t o r s wh i c h i s m o r e f u e l e f f i c i e n t a n d c au s e l e s s p o l l u t i o n ( w h i c h c a n b e u s e d f o r a d v e r t i s em e n t a s well)  S u p p or t of c o m m u n i t i e s  E m p l o y m e n t of l o c a l s t af f  O l d s t af f w i l l b e d o n a t e  S o m e c o l l a b o r a t i v e of f er s wi t h ot h e r l o c a l t o u r i s m b u s i n e s s wi l l b e es t a b l i s h e d i n o r d e r t o e n c o u r a g e g u es t s t o p u r c h as e l oc a l pr oducts  In d ucti on s, c ommu n ic ati on an d tr ai n i ng wil l b e pr ovi d e d  V o l u n t e e r i n g w i l l b e p r o m o t e d , s u c h as m a r i n e c o n s er v a t i o n wor k  W as t e m a n a g e m e n t w i l l b e p a r t of m a i n s t r a t e g y

3. 7. 2. Pr oduc t T o u r i s m i s a p r o d u c t i t s e l f . T h e c o r e p r o d u c t s of t h e c o m p a n y a r e a n ent ert ainment t our by its elf and ed ent er t ainment. T he basic pr oduct will be t icket ing and pr oduct c ont ents will be wat er, nat ur e, people, s it es and cult ur e. Cus t omer f riendliness and g ood f ood will be

e xp ec t ed

pr oducts .

The

augment ed

24

pr oduct ,

t hat

meets

the


cust omers


d es i r e s b e y o n d e x p e c t a t i o n s

wi l l b e p r o m p t s er v i c es ,

c om f o r t a b l e a n d i n t e r e s t i n g t o u r , s p e c t a c u l a r s i g h t s , m u s i c ,

and

o p e r a t i n g h o u r s . P o t e n t i a l p r o d u c t , w h i c h r ef e r s t o t h e p os s i b l e e v o l u t i o n t o d i s t i n g u i s h t h e of f e r , w i l l b e t o t a l l y c u s t o m i z e d t o u r p ac k a g e s w i t h h i g h l e v e l s t a n d a r d . 3. 7. 3. Pr icing Pric ing

will

Acquanet t a

r ef l e c t will

mar ket

of f e r

positioning

e xc ell en t

val u e

and f or

qu al it y; mon e y.

how ever G en er al l y,

Acqu anet t a’ pric e will be lower t han pric e mar ket pr ice f or t he s am e s er v i c e s . P r i c e wi l l b e b a s e d o n e x p e n s e s n e e d e d t o c o v e r f i x e d a n d variable

c osts

plus

10%

of

mar k

up

plus

c over age

of

init ial

invest ments . 3. 7. 4 Plac e Mai n s al es act i vit i es wil l t ake pl ac e t hr ou g h t our ag e nts an d h ot el s. M a i n l y a l l s a l es

ac t i v i t i es

wi l l h a v e d i r ec t c o n t ac t n a t u r e . A l s o

p ac k a g e s w i l l b e a v a i l a b l e t h r o u g h t h e I n t er n e t . D is t r i b u t i o n Distr ibution will occ urs wher e it r equir ed by c ust om er s.  P r i m a r y d i s t r i b u t i o n f r o m A c q u a n e t t a t o t o u r a g e n t t o c on s u m e r  Acquanet t a t o H ot el t o c ons umer  Acquanet t a t o c ons umer 3. 7. 5. Pr om ot ion A c q u a n e t t a w i l l u s e v a r i e t y o f m a r k e t i n g t ac t i c s t o i n c r e as e c u s t o m e r aw ar eness. S ales st r at egy will c onc entr at e on cr eat ing mass age t hat c r u i s i n g wi t h A c q u a n e t t a i s f u n , e x p e r i e n c e , a d v e n t u r e a n d h i g h qualit y st andar ds.

25



Pr e op ening mar ket ing budget will be ar ound S$80, 000. F ur ther , c om p a n y w i l l s p e n d 1 % of g r o s s p r of i t o n a d v e r t i s i n g a n d m a r k e t i n g . A d d i t i o n a l l y s u r v e y c a r d s w i l l b e d i s t r i b u t e d oc c a s i o n a l l y i n o r d e r t o e v a l u a t e t h e q u a l i t y of s e r v i c es p r o v i d e d . Adv ert is ing - Pr int  B r oc h u r es w i l l b e d o n e i n t w o c o l o r s : s e a c o l o r a n d w h i t e w i t h c l e a r d e s c r i p t i o n of p r o v i d e d s e r v i c e s , p r i c e s a n d o n e p i c t u r e of t h e c r u i s er ( f or t h e l e s s c os t o f a d v e r t i s e m e n t ) .

F ur t her

b r oc h u r e s w i l l b e m o d i f i e d .  B r oc h u r es w i l l b e p l a c e d i n h o t e l s , w h i c h c a n of f e r A c q u a n e t t a ’ s er v i c e s a n d s h o w b r o c h u r es t o t h e i r c l i e n t s .  T our agents  S p e c i a l n i c h e m a g a z i n es a n d N e ws p a p e r s w h i c h a r e d i s t r i b u t e d in air lines Public R elat ions S u r v e y c a r d s w i l l b e d i s t r i b u t e d o n t h e b o a r d of t h e s h i p t o c o l l e c t the f ollowing dat a:  Q u a l i t y of t h e f o o d a n d s er v i c e  D e m o g r a p h i c i n f or m a t i o n t o t a r g e t m a r k e t i n g ef f o r t s  T o f in d ou t f ur th er i mpr o vem en ts W eb Pr esenc e  N e ws l e t t e r s  C o m p a n y W eb s i t e c r e a t i o n w i t h e v e n t d es c r i p t i o n  A d v e r t i s e m e n t o n t o u r i s t s f or u m s Market ing Sales P ackages  B u s T o u r P ac k a g e s – T r a n s f e r f r o m h o t e l t o M a r i n a S o u t h P i e r a n d t i c k e t s f or t h e c r u i s e t o u r

26



 W ed d i n g p ac k a g e s i n c o n j u n c t i o n w i t h t h e H o t e l & S p a R e s o r t  D ay t ours i n c on j unc ti on wit h c it y t ou r ( th r ou g h t ou r a g enc y) Spec ial Ev ents  Privat e c hart er ing 3. 7. 6. P eople A c q u a n e t t a w i l l p a y a t t e n t i o n o n e m p l o y e e t r a i n i n g i n or d e r t o b r i n g hi g h q u ali t y s er vic e t o its c ust omers an d als o wil l cr e at e h ig h val u es a n d c u l t u r e of o r g a n i z a t i o n . C o m p a n y w i l l h i r e q u a l i f i ed e m p l o y e e s a n d c r e a t e p r o g r a m s t o r e t a i n t h e b e s t e m p l o y e es . 3. 7. 7. Pr oc ess P r oc e s s es a n d p r ac t i c es w i l l b e a p a r t of A c q u a n e t t a q u a l i t y s y s t e m . P r oc e s s es a n d w a y s of w o r k i n g w i l l b e c o n t i n u o u s l y r e v i e w e d t o m a i n t a i n a v e r y h i g h l e v e l of s e r v i c e a n d t o e n s u r e t h e s m o o t h r u n n i n g of a l l o p e r a t i o n s .

3. 7. 8. P h ysic al evi d en c e T h i s i s a d d i t i o n a l m e as u r i n g t h e i n t a n g i b i l i t y of A c q u a n e t t a s er v i c es . O n b o a r d e m p l o y e e s w i l l h a v e s t a n d a r d i z e d u n i f or m , w h i c h w i l l m a k e s t af f l o o k p r o f es s i o n a l a s w e l l as w i l l p r o v i d e t h e m i d e n t i t y . S h i p l a y o u t i s v e r y c o n v e n i e n t f or c u s t o m e r s t o o r i e n t an d t o m o v e . Light ening layout and

d ec o r a t i o n s

a t m o s p h e r e f or t h e c u s t o m e r .

EMENT OF BILGE WATER WASTE

27

a l s o a p a r t of

cr eat ion r ight



Secti o n F o ur: Oper at io n s 4. Loc ation Ident if ic ation 4 . 1 . A d v a n t a g es of t h e l o c a t i o n S i n g a p o r e h a s o n e o f t h e l e a d i n g ec o n o m i e s i n t h e w o r l d . I n 2 0 1 0 S i n g a p o r e w as r a n k e d n u m b e r o n e f o r d o i n g b u s i n e s s a m o n g a l l c ou n t r i e s

(E xp l or e

qualit ative Indonesia. Acquanet t a

f ac t o r

Ec onomies, as

S ingapor e

Anot her wi l l

be

2010).

l oc a t e d

advant age

loc at e in

G eogr aphic

is

Mar ina

c l os e

d i r ec t S out h

to

l oc a t i o n Mal a ysi a

b u s i n es s Pier

is

P or t ,

a

and

loc at ion. whic h is

s t r a t e g i c a l l y l oc a t e d t e r m i n a l , p l a c e d i n S i n g a p o r e ’ s f i n a n c i a l h u b , surr ounded Singapor e

by

leisur e

Flyer ,

S uper

and

ent er t ainment

bowl

G olf

and

a t t r ac t i o n s , C ount r y

Club,

such

as

S ec o n d

S i n g a p o r e B o t a n i c G a r d e n s . I n t h e d i s t a n c e of a r o u n d 1 - 2 k i l o m e t e r s t h e r e a r e 9 h o t e l s , S i n g a p o r e s k y P a r k , M a r i n a B ar r a g e V i s i t o r C e n t e r , 2 S q u a r es a n d 4 S h o p p i n g c e n t e r s , 5 m u s e u m s , w h i c h g i v e o p p o r t u n i t y t o a t t r ac t m o r e t o u r i s t s . 4. 2. Z oning T h e l oc a t i o n of t h e s h i p a n d t h e s t a r t s of c r u i s es w i l l b e i n M a r i n a S out h P ier, which is in Mar ina S out h, S ingapor e ( F igur e14) . T his is ver y ad van t ag eou s l oc ati on , as it was d escr ib ed pr e vi ou sl y Mari n a R es e r v o i r i s s t r a t e g i c a l l y l oc a t e d t e r m i n a l , w h i c h s u r r o u n d e d b y t our ist’s zones. T he t our ’ zoning will inc lude depar t ur e f r om Mar ina S o u t h P i e r , v i e w of S i n g a p o r e F l y e r , S e n t os a C o v e , T a n j o n g P a g a r f rom t he s ea, and f urt her K usu Island .

28



Fi gu re 1 4 M arin a So ut h P i er

Source: http://www.streetdirectory.com/asia_travel/travel/travel_id_29493/travel_site_4/

4. 3. T axes Acq u an et t a wil l b e r eg ist er ed u nd er G ood s an d S er vic es T ax, whic h is 2010 7% and t his will be c ollect ed f r om t he c ust om ers and paid t o t ax aut horities. Als o inc om e t a x will be paid bas ed on exemptions f or n e w l y s t a r t - u p c o m p a n i e s i n S i n g a p o r e , w h i c h a r e i l l u s t r a t e d i n F i g u r e 1 5 . A l s o c o m p a n y w i l l b e p a i d o t h e r r e l a t e d t o b u s i n es s t a x e s l i k e s t a m p a n d es t a t e d u t i e s a n d t h e f or e i g n w o r k e r l e v y .

F i g u r e 1 5 Tax Exemptions for Newly Start-up Companies in Singapore

Source: Singapore Corporate Tax http://www.rikvin.com/taxation/singapore -corporate-tax-rates/

29



4. 4. Pr o xi mit y t o s up p li ers A c q u a n e t t a r e q u i r e s s u p p l i e r s f or f o o d , n o n a l c o h o l a n d a l c o h o l bever ages and als o Ac quanet t a will outs ourc e ent er t ainment t eam. A l s o s p e c i a l l i g h t e n i n g a n d ef f ec t s l i k e s n o w a n d s m o k e m a c h i n e , b u b b l e m ac h i n e , s l as h e r , r o t o s p h e r e a n d m i r r o r b a l l w i l l b e r e n t e d f rom

e ven t

c ompanies

like

J ambor ee

plac e,

whos e

p r i c es

ar e

r e as o n a b l e a n d l o c a t i o n i s a p p r o p r i a t e , t h e y l o c a t e i n T a m p i n e s , which is not that f ar f r om Mar ina S out h P ier, whic h c an s een in A p p e n d ix 9 . A c q u a n e t t a w i l l t r y t o f i n d f o o d s u p p l i e r s w h os e l oc a t i o n w i l l b e n e a r t o M a r i n a B a y i n o r d e r t o s a v e t r a n s p o r t a t i o n c os t s . F o o d w i l l b e o r d e r e d f or e v e r y d a y n e e d s . I t w a s c a l c u l a t e d t h a t t h e c os t s of r ef r i g er a t o r s t o s t o r e f r o z e n p r o d u c t s a n d f r es h p r o d u c t s a n d e l e c t r i c i t y f or t h e m a r e h i g h e r t h a n c os t s f o r e v e r y d a y d e l i v e r y ; a d d i t i o n a l l y t h e r e i s a n a d v a n t a g e of f r es h q u a l i t y p r o d u c t s . I n i t i a l l y f o o d w i l l b e p r e p a r e d b a s e d o n c h ef k n o w l e d g e a n d e s t i m a t i o n s , f u r t h er t h e s u r v e y w i l l b e c o n d u c t e d a b o u t h o w m u c h f o o d i s u s e d p e r d i n n e r o r l u n c h , wh a t c a n b e u s e d f o r f u r t h e r r ec y c l i n g a n d w h a t a r e t h e c u s t o m e r s ’ p r ef e r e n c es ; o n t h a t k n o w l e d g e t h e d e m a n d f or p r o d u c t s w i l l b e p r o v i d e d f or s u p p l i e r s w e e k i n a d v a n c e i n o r d e r f o r sup p li ers t o h ave al l t h e r eq u ir ed an d d el i ver it on ti me.

4 . 5 . A c c es s t o t r a n s p o r t a t i o n M a r i n a S o u t h P i e r i s e a s y t o r e ac h b y p u b l i c t r a n s p o r t as w e l l as b y c ar . Public tr ans port :  SBS T r ansit N o 402 f r om Marina B ay MRT  T h er e a r e 1 1 S B S T r a n s i t a n d 1 2 S M R T b u s es f r o m S h e n t o n W ay  T h er e a r e 1 4 S B S T r a n s i t a n d 5 S M R T b u s es f r o m A n s o n R o a d

30



 5 S B S T r a n s i t b u s es f r o m M a r i n a S t a t i o n R o a d P ar k i n g :  Onsi t e (C ash C ar d p aym en t)  Along Mar ina C oas t al Drive (c oupon par king)

31



Secti o n F ive: M anag e ment 5. 1. Manag em ent t eam T he Acquanet t a manag ement t eam will be balanc ed in t alents and e x p e r i e n c e . M a n a g e m e n t w i l l b e d i v i d e d i n t o f o l l o w i n g c at e g o r i e s , which ar e described in F igur e16. Fig ur e 16 M an ag ement t eam Manage ment catego ry Operat iona l an d on s ite mana gemen t

Respons ib il it ies / Dut ies          

Assist in devel opm ent of business Developm ent of m ark eting strat egy and plan Developm ent of op er ating strateg y and plan Developm ent of op er ating budget Organizati on of staff r ecruit ing Interviewing, hiring and replac em ent Staff tr aining Developm ent of pol ici es and proc edures Im plem entation of m arket ing plan Cruise opening and start up plan events and actual oper ati ons  Monitoring and control ling of budgets  Cas h c on t r ol s ys t em s

Key Per sonne l CEO

Boa rd of D i rector s (one of di re cto rs M UST be Sin gapore’ re side nt )

                   

D e a l wi t h g e n e r a l b u s i n e s s p r o b l e m s Financial Issues Re vi e w B u d g et s Do cash fo re cast Re vi e w ob lig at i on s i f an y E n s u re p aym en t o f t a x es Create c om pany cultur e Building m anagem ent team Fund -raising Setting strateg y and visi on Capital al loc ati on Rec om m endations to the operati onal direct or E va lu at e o v er all A c q u an et t a ’ p er f orm an c e Re vi e w in c om e e xp en s es an d rec om m en d h ow to m axim ize the profit Re vi e w op er at i on al p r oc ed u r es , in c lu d in g s a fet y, s t a f f in g , t rain in g , n ew r e v en u e s ou rc es Re vi e w m ark et in g p lan Ti c k et p ri c i n g Re vi e w of c u s t om er’ f eed b ac k Editing of m enu and tour packages Re vi e w all fin an c ia l d at a at t h e en d o f t h e y e ar

32



P er s o n n e l P l a n A c q u a n e t t a p l a n s t o k e e p t h e f ol l o w i n g p os i t i o n s o v e r t h e n e x t t h r e e years ( F igure17) Fig ur e 17 P er son nel Pl an Init ially t he all pers onnel c onsider ed as f ull t ime, f urt her c ompan y w i l l e v a l u a t e w h e t h e r t h i s n u m b e r of p e r s o n n e l i s s h o u l d b e a l l f u l l t i m e o r s o m e c a n b e p a r t t i m e o r m a y b e a d d i t i o n a l w o r k f or c e w i l l b e r equir ed.

Ma na ger Grou p Sal es ma n ger En tert ai n me n t ma n ag er Food a n d C at eri ng ma n ger Secre tary Su ppor t Su perv isor Capi ta n Capi ta n a ssi st a nt Chef Chef a ssi st a nt Dishwasher DJ Wa it ers Clea ni ng St aff Total per day Total Outsou r ci ng En tert ai n me n t t ea m

2010 1 1 1 1 1 1 1 2 ( 1/1) 4 ( 2/2) 4 ( 2/2) 2 ( 1/1) 4 ( 2/2) 2 ( 1/1) 16 25

2010 1 1 1 1 1 1 1 2 ( 1/1) 4( 2/ 2) 4 ( 2/2) 2 ( 1/1) 4( 2/ 2) 2 ( 1/1) 16 25

2012 1 1 1 1 1 1 1 2 ( 1/1) 4 ( 2/2) 4 ( 2/2) 2 ( 1/1) 4( 2/ 2) 2 ( 1/1) 16 25

1 t eam

1 t eam

1 t eam

33



5. 2. Legal s tr uct ur e Type of B us iness A c q u a n e t t a w i l l r e g i s t e r as P r i v a t e C o m p a n y L i m i t e d b y S h a r es ( P r e Lt d) .

A c q u a n e t t a w i l l h a v e i t s o w n l e g a l i d e n t i t y , s ep a r a t e f r o m

s h ar e h o l d e r s a n d d i r e c t o r s ; c o m p a n y c a n a c q u i r e a s s et s , g o i n t o debts, ent er int o c ontr acts, s ue or be s ued in its own nam e ( J anus C or p o r a t e S o l u t i o n s P t e L t d , 2 0 1 0 ) . Employ ment Acquanet t a ear ning

will

not

employees

f ollow

mor e

Singapor e

t han

ear ning

not

E mpl o ymen t

S $4,500 mot

b as i c

mor e

than

Act

f or

mont hly S $2,000

wor kmen

s al a r i es b as i c

and

mont hly

s al a r i es , w h i c h c o v e r s e v e r y e m p l o y e e r e g a r d l es s n a t i o n a l i t y t h a t i s under

a

s eaman

c ontr act and

r egulat ions c on t r ac t s .

of

s er v i c e ,

domest ic r egar ding

exc ep t

wor kers.

manag ers

and

A ppendix 10 f urt her

emp l o ymen t

and

executives, exp l ai ns

det er m inat ion

of

the the

B as ed on S ingap or e r egulations employee c an wor k not

mor e than 8 hour per day or 44 hours in a week. T he limit c an be e xc e e d e d i f e m p l o y e e i s n o t w o r k i n g m o r e t h a n 5 d a y s p e r w e e k , h o w e v e r n o t t h a n 9 h o u r s p e r d a y ; i n o t h e r c as e c o m p a n y s h o u l d apply

f or

overt ime

e xemp t i ons.

A d di ti on al l y,

Ac quanet t a

should

f o l l o w F a i r E m p l o y m e n t P r a c t i c es , w h i c h i n c l u d e r e c r u i t a n d t r e a t a l l e m p l o y e e s r e g a r d l es s g e n d e r , r e l i g i o n , d i s a b i l i t y o r r a c e a n d p r o v i d e them

wit h

equal

opport unities.

A ls o

A c quanet t a

wi l l

need

to

c on s i d e r t h a t f or e v e r y f i v e f or e i g n w or k e r s i n M a r i n e s e c t o r i t w i l l n e e d t o f i r e o n e l o c a l f u l l - t i m e w o r k e r a n d f or s e r v i c es s h o u l d b e a b o v e 4 0 % t o 5 0 % l o c a l w o r k f or c e of t h e t o t a l f o r e i g n w o r k f or c e . L ic e n s e s a n d r e g i s t r a t i o n s

34



Acquanet t a needs t o r egist er ship t o tr anspor t engers, c omply wit h

s af e t y

and

s anit ation,

ens ur e

that

ship

of f i c er s

and

cr ew

m e m b e r s h o l d v a l i d l i c e n s e a n d w o r k p er m i t s t o w o r k o n b o a r d . I n o r d e r t o o p e r a t e l e g a l l y t h e f o l l o w i n g l i c e n s es f or A c q u a n e t t a s h o u l d be obt ained:  Business r egist r ation  Business N am e r egist r ation  Public ent ert ainment Lic ens e  C o p y r i g h t L i c e n s e f or M u s i c  H ar b o u r / P l e a s u r e c r af t L i c e n s e  Pleas ur e cr af t r egistr at ion  I n s p ec t i o n of t h e c r af t  S af e t y E q u i p m e n t C e r t i f i c a t e  P er m i s s i o n t o l a u n c h n e w v e s s e l i n p o r t  Liquor Lic ens e  F ood S hop Lic ens e  H alal E ating Est ablis hment Sc heme  L i c e n s e t o O p e r a t e a m e a t o r F i s h P r oc e s s i n g E s t a b l i s h m e n t o f

C old St or e  P l a n a p p r o v a l f o r F i r e s af e t y w o r k  Ship S t ation Lic ens e

35

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