We are looking at numbers with lodging, functions and banquets coming in at 300K a year. Looking for a half investor for a 900k loan. We have a half investor with 90k cash to put down and looking for another partner with 90k and good business credit to swing it.
Call John or Teresa Pastor for More info 337-230-2271
Figures are included as estimates.
Sample Business Profile Outline
Cover Bois Des Chennes Bed and Breakfast, Investors and Operators, Ravi Duggula - owner, John Pastor - Managing Partner, Pat and Maugie Pastor - Consultants, Maddie Hartman - Innkeeper
Executive Summary
Introduction
The long-term goal of Bois Des Chenne Bed and Breakfast and Event Center, is to become the best choice in Lafayette Louisiana, for temporary lodging by creating a differentiated experience capitalizing on personal service, the historical nature of the Bois Des Chennes, and its unique location in one of the most attractive parts of the Old South. We plan to be more than a great bed and breakfast. We plan to create an environment of pampered luxury and unique cajun experience, that surpasses the standard fare for Lafayette. Expanding our exposure via the Internet and introducing the Lafayette area and travelers from all over the world, to people that have not yet discovered this year-round paradise will allow us to maintain a higher than average occupancy rate and above average profits. Further more, we intend on expanding the facility to optimize the full 11 rooms as well as functioning as a event center that offers unique and affordable weddings, receptions and meetings for small groups and businesses.
Statement of Purpose
This plan will be used as an Operating and Policy Guide for the Bois Des Chennes Bed and Breakfast and Event Center, and to obtain necessary financing.
The business will be structured as a Partnership LLC. The principal, Ravi Duggula, seeks loans totaling $600,000 to:
Purchase Business and Property
Perform necessary renovations and improvements
Purchase furnishings and inventory
Maintain adequate cash reserves for successful start up
Products or Services
11 Room Bed and Breakfast/ Hotel
Inn patrons can enjoy ample common areas, including a parlor, sun room, large dining room downstairs, and a sitting room with window seat upstairs. Quality furnishings and furniture, including many antiques and hand-stitched needle-work items, will help create a warm and inviting environment. Features of the common areas include two fireplaces, a baby grand piano, and a varied selection of reading material and games. Sitting areas will be comfortable and well lighted.
Guests will also be able to enjoy outdoor seating, either on a deck adjoining the sunroom or in the secluded backyard. In addition to providing a pleasant spot to relax or dine outdoors, the patio will also provide an aesthetically pleasing solution to the required wheelchair ramp.
A full breakfast will be served and included in the room rate. Turn down service, evening refreshments, and an array of special services, including wine for purchase, will also be available. A Beer and Wine License will be obtained to accomplish the latter.
Guests will expierence the best in cajun hospitality with welcoming conerage service that includes maps, reservations at local restaurants, booking of iteneraries, swamp tours and adventure day trips.
Event Facilities will be able to accomodate small to large wedding services from 50-300ppl. Receptions can also be accomodated within the 6000 square foot home and grounds. Meetings and Business confrenences will aslo be offered to the public from 10-30 people in our media center and group meeting rooms.
History of Organization or Industry
Market
MARKETING STRATEGY
Positioning
Bois Des Chennes Bed and Breakfast and Event Center, will be positioned as a bed and breakfast offering a romantic experience with comfortable surroundings. There will be a strong emphasis on attention to detail and customer service. It will cater to the aesthetic tastes and expectations of the discerning and affluent traveler.
In the hospitality business, small inns have the unique ability to deliver personal and personalized services. This advantage will be exploited by offering individualized guidance in personal, recreational, and entertainment needs. An environment will be created to enhance each guest's experience by drawing on the innkeeper's heritage of "Southern hospitality."
The building, grounds, and decor play such an important role in the consumer's choice of a particular bed and breakfast. The inn must be luxurious, comfortable, and conducive to relaxation and romance. Those amenities most desired by guests, including private baths, fireplaces, and private decks, will be provided.
Image
Image consists of many components and the Bois Des Chennes Bed and Breakfast and Event Center, is being carefully planned to ensure that each of these elements has been considered and appropriately addressed.
Friendly and polite telephone and on-site presence:
Calls will be answered promptly, and all inquiries handled in a pleasant and professional manner. For those times when calls cannot be answered, an answering machine will be used. The messages will be checked frequently and calls returned as soon as possible.
Owner's personality, hospitality, manner, and business actions: Recognizing that an innkeeper on the premises and the warmth of that individual are two qualities that B & B guests look for, this will be a high priority. Attitude, appearance, and professionalism are key goals.
Cleanliness of bedrooms, baths, and public areas and dining facility: The inn will be maintained in a manner befitting a first calss lodging establishment.
Amenities, features and unique services
Bois Des Chennes Bed and Breakfast and Event Center, will excel in its delivery of amenities, features, and special services. For clarification, an amenity refers to an extra service or product offered free to every guest that does not directly affect price. Sweet-smelling soaps, fluffy towels, and making dinner reservations, swamp tours and day trips, will be available to all guests. Romance Packages, Private Massages, Private Day Tours, Custom Soap and Fragrance Packages are features for which an additional charge is directly extracted. A special appetizer tray or bottle of wine with check in time, is an example of a special service for which there will be no additional charge.
Each guest room and bath will contain the following amenities:
King or Queen-sized bed
High quality mattress
At least 2 comfortable chairs and a table or desk
Good reading light
Closet or armoire
Luggage racks
Storage space in bath (plus tubs in four)
Luxurious towels and guest robes
Feature found in individual guest rooms are detailed below.
Name, Logo and Decor of the Inn
Bois Des Chennes Bed and Breakfast and Event Center, was chosen because it will be easy to remember and it contains a marketing "hook" (Historical Name, and a reference to a famous fictional character).
The entire house will be furnished in antiques collected by the owner over many years; however, beds will be new to accommodate today's standards of size and comfort. The bed will be the room's focal point, selected with the "theme" of that room in mind.
PROMOTION AND ADVERTISING
Public Relations and Personal Selling Program
Building strong credibility within the community is always helpful. Guests needing accommodations will be referred by people living in the area. The inn's location in a historical residential, neighborhood will also generate activity from friends and relatives looking for accomodations in close proximity.
Community public relations will include the following:
Support community programs by becoming a member of the Chamber of Commerce, Better Business Bureau, and Convention & Visitors Bureau. The inn will also be made available as a meeting place, as it includes not only a large dining room, but a parlor that can be closed off.
Working with community and state support groups to develop tourism. This includes membership in the local and Louisiana Bed & Breakfast Innkeeper Associations, through which the owner will have the opportunity for joint publicity and advertising. These associations will also provide overflow referrals from other member inns.
Marketing the inn through local media. This will also extend to regional, state, and national coverage. A freelance writer has already expressed interest in developing a series of articles about the inn as it progresses. This writer has been published in a number of national magazines.
Cooperating with area business. Personal calls will be made on area businesses, especially restaurants, other inns, tourist destinations, and recreational facilities. Each visit will be followed up with a letter.
Contacting private citizens. The immediate neighborhood will be notified via flyer. The flyer will announce the arrival of the inn and promote it as an alternative to hotels for visiting friends or relatives.
Answering inquiries promptly. People who make inquiries are the most promising potential customers. All inquiries will be handled promptly and with the information requested.
Use of Travel-Freelance-Guidebook Writer Lists and Media Kit
A media kit will be developed that contains
the following basic materials:
Pen and ink drawing of the inn and grounds
Photographs of the exterior and interior of the inn
Brief history of the property
Detailed description of the house and rooms
Copy of brochure and rate/policy cards
Information on things to do in the area
A list of travel writers, guidebook authors, and other appropriate press members will be maintained. The list will include information on publication deadlines, special interests of the authors, and writers that visit properties and/or charge listing fees.
Brochure
An attractive brochure is an important tool for any marketing program. There has been a lot of attention given to the selection of images and copy that will represent Bois Des Chennes Bed and Breakfast and Event Center, in an accurate and inviting manner. A graphic artist was hired to design the inn's logo. A tri-fold brochure, with a separate rate and policy card, is being developed for mailing purposes and rate displays. The owner's experience in the area of collateral development will help keep costs down without sacrificing quality or effectiveness.
The brochure will be distributed locally to the Visitors Center, Chamber of Commerce, and Reservation Services. B & B associations and Travel Agent services, LCVC and all state welcome centers, of which the inn is a member, will also receive brochures.
Business Cards and Other Promotional Items
A relatively inexpensive way to promote the bed and breakfast is to incorporate the name and logo of the inn on business cards, stationery, envelopes, and rate/policy cards. Professional looking business cards can help establish credibility and create interest in the business.
The name and logo of the inn will also be used on note cards, featuring a pen and ink or water color drawing of the inn and grounds. These cards will be packaged and available for sale.
Also being considered as a means of heightening the inn's visibility is using its name and logo on polo-style shirts. This would help guests remember the inn, create interest outside the Metropolitan area, and generate additional income.
Reservation Services and Travel Agents
Reservations and bookings will be handled through modern internet booking services such as Peek or Webervations.
Travel Agents are an additional resource that will help attract guests from outside the state. The inn will be listed in INNVIEWS, The Travel Agent's Guide to Unique Accommodations. This guide for agents includes a geographically arranged section that provides a detailed description of each inn, including rates and policies, and highlights local points of interest.
These services will be necessary during the first year of operation to compensate for limited word-of-mouth referrals and guidebook activity. After the first year, each service will be carefully reviewed to determine which, if any, will be continued.
Listing in Yellow Pages and Guidebooks
The inn will be listed in the yellow pages under the categories of Bed & Breakfasts and Hotels. The number of guidebooks in which the inn can be listed will vary depending on publication dates and availability of their writers. There are currently over 195 Bed & Breakfast and Country Inn guidebooks in print and fewer than 20% charge for a listing.
Using a current list of guidebooks whose publication deadlines can be met, the inn's media kit will be distributed to approximately 12 books before the inn opens. Additional books will be added to the initial list as new publication dates are published. Promotional information will also be sent to a current list of over 300 travel editors and freelance magazine and newspaper travel writers.
Special Promotions
There will be a variety of special promotions offered throughout the year, with an emphasis on those aimed at attracting guests during the off-season. All promotions will be monitored to determine those attracting the greatest number of guests and delivering the highest return on investment. In addition to tracking special promotions, all phone callers will be asked how they heard about the inn and the information will be recorded.
An example of a year round promotion will include packages that contain an activity such as Swamp Tours or a trip on the Food Tour Truck. Special events will also be planned for each season of the year, with local merchants encouraged to co-sponsor and promote some events. An example of a merchant sponsored promotion would be a wine tasting and a non-sponsored promotion might be a Murder Mystery weekend.
Gift Certificates will also be promoted as an ideal business or personal gift.
COMPETITIVE ANALYSIS
Competitive Differences
There are several factors differentiating Bois Des Chennes Bed and Breakfast and Event Center from hotels and other Bed and Breakfast Inns.
The overwhelming advantage of a Bed and Breakfast over a hotel is its personalized service, individualized decor, and delivery of an "experience" rather than simply a room for the night. The Bed and Breakfast will appeal to the aesthetic tastes and expectations of the discerning, affluent traveler looking for a higher standard of attentive, personalized service and amenities. Delivery of these services will justify top of the market rates.
In comparison with other inns in the area, Bois Des Chennes Bed and Breakfast and Event Center will stand out in its delivery of amenities and features. Using information obtained through extensive market research, including independently conducted surveys and the owner's own travel experiences, those amenities that guests most desire are being provided.
As outlined in the Competitive Section of this Plan, Bois Des Chennes Bed and Breakfast and Event Center is also above average in its added features, Unparallell service and concerage services as proven by track record of success of the Pastor Family. The inn's location in a quiet and safe neighborhood surrounded by fine examples of Victorian architecture, it's secluded backyard and deck, and the spacious common room areas will also compare well to other inns.
Bois Des Chennes Bed and Breakfast and Event Center will also have handicap accessibility, which is not available in most other inns in the area.
The property is a City Landmark and is on the National Register of Historic Places. Even without landmark status, the Gothic Revival home is a style not abundantly present. The Victorian "farmhouse" style will offer guests an alternative to the more formal Victorian mansions and contemporary styles offered by other inns.
Breakfast is another way to set one inn apart from another. The Bois Des Chennes Bed and Breakfast and Event Center will incorporate southern-style specialties into both its breakfast and evening refreshment service.
The inn will be positioned as a "full service" bed and breakfast, offering a variety of services for its guests. This will range from assisting guests with restaurant reservations to providing food trays, wine, and flowers for special occasions.
Competition: Tfreres House
A competition chart has been drawn up comparing 6 inns with total of 42 guest rooms located in Lafayette Parish. Comparisons were made in the following nine categories: number of rooms, prices, extra person rates, bed size, meals, amenities, policies, check-in/out times, and accepted credit cards. The complete chart is available through Anson Computers. Notable observations appear below.
Rates range from $55-$275. Half of the inns offer "off season lower rates." The specific discount is not publicized, nor is it known if the reduction applies to the weekend, weekday, or both. Four inns specifically mention "off season lower midweek rates" and one offers "midweek" lower rates.
Competition: St Martin Parish
A second competition chart was developed for the inns located in St Martin Parish. This chart was compiled using the same nine categories mentioned above. An analysis of the data reveals the following observations:
All inns are listed in the AAA Bed and Breakfast Guide and/or Chamber of Commerce. The inns contain a total of 21 rooms.
Two inns have at least one guest room with a fireplace, one inn offers one room with a whirlpool, one provides a room with a private entrance, two others offer balconies or patio/decks, and one offers a pool and spa. Every inn provides private baths.
Rates range from $95-$140. None of the inns refer to the availability of lower rates weekdays or off season.
Sales and Advertising Strategy
With over 20 Plus years expierence in the bed and breakfast industry as well as over 50 years in the hospitality industry our sales and advertising strategy is direct and 100% financialy efficent. It will consist of
In House Advertising (promotional items, referral targeted service, return discounts, review cards for promoting our travel referral sites, trip advisor)
Local Advertising (promotional participations, social media, non-profit hosting events, local to-do calendar posting, Community Interest group involvements, We will also be hosting a series of grand opending celebrations as well as group focus promotion events to solicit awarness and participation with all major vendors of events and catering as well as weddings)
FIT Travel Advertising (putting together travel packages and target focus distribution to LTPA travel conventions and to independent travel companies through out the south and to all major tourisim feeder areas)
Local and State Tourisim Office Advertising (teaming up with the largest tourisim marketing service to ensure more advanced placement , newer looks and participation by attending meetings, groups and volley for executive positions within committes to stay ahead of the market as well as steer the future of tourisim)
Internet Advertising (The single most effecitive and cost efficent marekting service available for local promotion to ensure local market domination in "best of" categories, community awareness, and intimate accessability. )
Building on Current Brand (the existing business currently is one of the most well know bed and breakfasts in the south with over 8 years of awards of excellence from trip advisor, as well as over 100 articles in multiple travel magazines.
Cross over Marketing with our Tour Company (our custom tour company has been in business for over 6 years and caters to over 300 guests on custom tours annually with a gross revenue of 30,000 while only operating part time as a lost leader for our real estate business, to recruit new buyers with our custom orientation tours offered to all major medical hr departments and oil companies)
Total Cost of marketing will be limited to, promotional items, brochure production and distribution, event giveaways, target internet boosting and membership fees to local and state travel organizations. Current Marketing investment costs to return on investments is less than 5% of gross sales witch leads to massive growth potential.
Location, Facilities and Operations (Very important and should be detailed)
Site Analysis
Current Business operates with only 5 rooms available for rent and does not offer any small event services or additional custom tour packages. The current property sits on 2 acres within the city limits in the historic district of lafayette, with an additional 2 acres available for purchase which we will have first right of refual on from the current property owners, for future business expansion. Current Facility has 6 un-utilized rooms that could be used to generate revenue. The site currently has frontage on sterling, moss st and jefferson. There is ample street parking to handle our business plan for functions, as well as onsite parking to handle the current business of bed and breakfast.
Buildings and Equipment
The Main Structure was constructed in 1849 and is the origional home of charles mouton, one of the founders of lafayette. It has over 6000 square feet of space with three common areas, 6 bedrooms, and an office as well as a kitchen. The secondary structure is a rental building with three apartments in it. The third structure is currently a garage and storage facility but also has an additional apartment as well as a full suite on the second floor.
The Home will be furnished with all operational equipment necessary to continue to function as is. Including beds, sheets, serving utinsils and cook wares.
Process Description and Analysis (Primarily Manufacturing)
The main and current business will be the bed and breakfast business consisting of lodging and preparing meals as well as local hospitality directioning to ensure customer satisfaction. Our operational knowledge with over 20+ years of expierence, current operating lodging businesses as well as excellent consulting services from the best bed and breakfast operators in the south. Our process is simple, ensure entirely accurate and up to date booking processes and bookkeeping. Guests will be greated during our standard check in time and given a grand tour of the home and escorted to their room, from here they are guided to our world famous concierge service including appetizers and cocktails. They will be givin menues of the current restaurants and brochures of local to-do and hot spots. From here guests are given keys and let to go and do as they wish. In the Morning there is our cajun gormet breakfast served at 9am and daily agendas are checked, and tours are booked. Check in time is from 3pm-6pm. Check out time is 11am.
Suppliers
Our Inventory will be supplied through sams with the exception of our unique home grown cajun items and food novelties. This will keep costs low and profits high
Inventory Requirements
Food Inventory will be prepared on a set menu basis and all food will be shopped for weekly. Our food rotation schedule is precise as per our orders and guests requirements so inventory of food is typically used first in first out, and out by the week.
Beverage inventory will be bought in bulk to save on expenses and used as needed for check in time as well as per funciton
Sheets and Linnens will have three sets per unit, one which is set out in use, one in the back up drawer located in room and one in the laundry cabinates.
All other inventory and special need items will be kept and recorded on a monthly inventory cost of good sold worksheet and purchased as needed.
Staffing and Management
Workers and Staff will consist of three full time workers and other seasonal staff or as needed.
First position is on site innkeeper, Maddie Hartman, Her duties included general operations of business, reservations, shopping for business, bookings, party bookings, assisting in local marketing, and managing guest services during their stay and processing guests during check in time. She will be provided a room to be able to manage and operate business on site. She has over 10 Years in the tourisim industry and was head tour guide for the Alexander Mouton home, As well as event planner, and guest service manager. She speaks fluent french and is an expert in Cajun History as well as a 4 time best of acadiana winner for hospitality with Alexander Mouton Home.
Second Position is Operating Partner, Cook and Maintenance, John Pastor, His duties will include preparing guests meals in the morning, managing inventories, tour concierage services and day planning, general maintenance and upkeep of the property will be executed by this position including upkeep of grounds and keeping a maintenance schedule. He will also be head planner and operator of functions such as weddings and parties larger than 20. John will also be providing swamp tour services through his partnered tour company and is also an ordained minister and can offer on site weddings on an as needed basis. John Pastor is a marketing Major from ULL whos expierence is not only fully versed in owner operations of Tourisim, hospitality but also Catering, Restaurant Management and a Musician. He has over 20 years expierence in the Hospitality Industry with 10 specifically in his family's bed and breakfast Tfrere's House. John was instrumental in the growth, development, and profitability of this bed and breakfast. His efforts in combination with his family created a business from startup to "Best Bed and Breakfast in the South" in 2013 by Southern Traveler Magazine as well as 20 back to back wins for Times Best of Acadiana, Bed and Breakfast, and #1 Ranking on all major travel sites.
Third Position is Housekeeping, This position is responsible for daily cleaning of rooms, laundry as well as assist in the serving of breakfast in the morning. This position will be interviewed, trained and hired upon aquisition of business.
Training will be provided by John Pastor and will consist of a two week trial period with shadow management to ensure the best customer service.
Management of daily operations will be handled by operating partner and will include as needed staff adjstments, procedure adjustments, inventory regulations, Schedules and menu planning
Management of Over View Functions including sales goals, projections and business developement will be handled by the primary owner and General Manager/ Operator, Ravi Duggula
Outside Assistance Consulting Services will be provided by Pat and Maugie Pastor, former owners of T'freres House Bed and Breakfast. Chez Pastor Restaurant Their world renowend hospitality and legacy have made them the ultimate benchmark in restuarants and bed and breakfast industry. With over 50 Years of Expierence, Pat and Maugie have opened 13 Restaurants, 2 Hotels, Were one of the Founders of Festival Acadiadiens, Won over 200 Best of awards in multiple categories, Been on the cover of over 30 Magazines and News Papers including USA TODAY, Opened Vermillionville and have been on the board of LCVC and LTPA and have been instrumental in the growth and development of current cajun heritage and culture in the tourisim industry.
Financial Management will be Provided by Accounting services as well as legal consulting will be provided by Local Attorneys
Financial Analysis
Sources and Uses of Funds Statement
Income Statements and Detailed Assumptions
Balance Sheet and Pro Forma (future projections) Assumptions
Cash Flow Statements and Pro Forma (future Projections) Assumptions
Appendices
List of Collateral and Its Value
Three Years of Historical Financial Statements
Personal Resumes and Financial Statements of Principals
Letters of Reference, Intent, etc.
Copies of Leases, contracts, Articles of Incorporations, etc.
Copies of Permits, Licenses, Patents
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