Executive Summary
The paper presented below describes a new business venture aimed at providing recreational and educational experiences to children between 1.5 and 8 years of age. The name of the proposed investment will be Fun Town and it will be located in a busy shopping mall. This venture requires adequate tenant space of around 500 and 1,000 square meters. This area should have a ceiling of 10 meters, two exit doors, and a big entrance.
The tenant space needs to be divided into several sections to accommodate children depending on these two parameters: height and age. Electric operated appliances are needed to deliver high-quality and personalized services to every child. The amount of money needed to execute and operate this business successfully is 50,000 US dollars. The investors expect that a monthly profit of 4,000 dollars will be made from the targeted venture. A wide range of sporting exercises, computer games, and recreational activities will be available to the targeted children. A continuous study will be done to ensure that available services are improved depending on the changing expectations of all potential customers. These considerations will eventually deliver a successful and profitable business project.
Business Overview and Opportunity
Fun Town is a proposed business idea aimed at transforming children’s experiences and ensuring that they learn through play. In most of the existing and emerging malls, the main focus has been on the changing needs of different customers. Entrepreneurs have been on the frontline to rent adequate space and provide a wide range of services or products. Unfortunately, a small number of play areas targeting children below 10 years of age have been established.
This means that young individuals are only expected to visit established parks or gaming centers. The ultimate result is that such people do not get adequate opportunity to acquire new ideas, experiment new things, or become critical thinkers. Additionally, it is usually impossible for guardians and parents to accompany their young ones whenever visiting such parks or centers.
Malls have become popular in many parts of the world since they offer numerous opportunities to people with diverse expectations or needs. The agglomeration of convenient stores providing or marketing different brands, products, and services is a powerful model for attracting potential clients. Companies or individual investors can lease or purchase such shops to set up their business ventures and eventually achieve their business objectives. With many people visiting such amenities to purchase various products or access certain services, chances of being accompanied by their children tend to be high.
Establishing a soft play area in such shopping malls is an indigenous move for ensuring that they get an opportunity to interact with each other, engage in challenging games, learn more about emerging technologies, and overcome the problem of obesity. Such a business venture will be appropriate for guardians and parents since they can shop freely without any form of interruption or distraction from their young ones. Since this is a revolutionary strategy or business idea, chances of succeeding are quite high.
Business Analysis: Requests and Requirements
The above section has identified young children and their parents as the potential target customers for this business proposal. The change catalyzed by the emergence and establishment of shopping malls explains why the introduction of a soft play area is a profitable venture. The model seeks to address a wide range of challenges associated with traditional amusement parks and the need to accompany underage individuals wherever they go. Every customer visiting such a mall will be informed about the presence of the targeted indoor playground. This means that more children will be able to receive such services and achieve their goals.
The purpose of this document is to request the selected shopping mall administration to offer tenant space for this indoor playground. It should be appropriate and capable of accommodating children between 1.5 and 8 years of age. The required area should be around 500 to 1,000 square meters. Since safety is critical when dealing with young individuals, the space is expected to have two exits at the back. A large front entrance is also needed to ensure that all visitors access the facility with ease. Such requirements are also essential since they provide a new opportunity for addressing any emerging problem and protecting the targeted customers.
The targeted area’s ceiling should be over 10 meters to improve air circulation and ensure that things are relocated or installed with ease. There is a need to a have a mini store that can be accessed by children with ease. A mini cafeteria inside the tenant space will ensure that the needs of those who are hungry are met. Such requirements will support the business model of the venture and ensure more profits are made.
Another key request is to get enough space that has electric operated appliances since they are becoming more preferable to many children today. The final thing is to have the requested space partitioned into different sections. This is necessary since the facility targets children of different ages. The sections will ensure that customers are grouped depending on height and age in order to minimize cases of bullying and discrimination. The ultimate objective is to ensure that all customers are satisfied with the available space and capable of pursuing their favorite physical exercises and learning activities.
The leaders and managers of Fun Town will be pleased if such requirements are met or presented. This is the case since all supervisors and attendants will find it easier to offer personalized services. Fun Town also requests maximum cooperation from the officials and managers of the shopping mall in order to pursue the anticipated business goals successfully. When all stakeholders or partners take these issues into consideration, chances are high that positive results will be recorded within the shortest time possible and address the changing needs of more children in the selected neighborhood.
Business Management
The success of any business investment depends on the implemented managerial style and the competencies of those in top leadership positions. Fun Town is a new idea founded on the key attributes or standards of effective supervision. The business will be a partnership whereby several professionals will be required to offer managerial services. These individuals should possess appropriate skills that can take the venture to the next.
Various attributes will be considered throughout every hiring and recruitment process. Firstly, selected leaders should be able to communicate effectively with their followers and customers. Secondly, these individual will be required to make timely decisions and consider the changes and trends experienced in the market. Thirdly, the hired people will be expected to put the needs of all customers first and offer guidelines to support the delivery of high-quality services.
A public relations (PR) manager will be recruited to ensure that the running of this business resonates or is informed by the demands of all key stakeholders. Such a leader will be required to institute evidence-based initiatives and action plans that are in accordance with the shopping mall’s business model or terms and conditions (T&Cs). A human resources (HR) manager will be empowered to make adequate decisions, recruit and hire individuals with valuable skills, and empower existing workers. These professionals will consider the demands of all customers, present timely suggestions, and make appropriate improvements to the business. Emerging challenges or obstacles will be addressed in order to ensure that positive results are recorded in a timely manner. Such managerial experiences will become powerful guidelines for reshaping future business operations.
Financial Plan and Execution
Fun Town is a business idea that is expected to take many potential customers by surprise and deliver superior and admirable services. In order to launch and operate this business venture successfully, around 50,000 US dollars will be required. This initial amount will be obtained from business partners and savings. The money will be needed to rent the requested space, purchase appropriate equipment, pay salaries, and get the required certificates and licenses.
The business is expected to generate profits of around 4,000 US dollars per month. This is the case since every child will be required to pay for the services rendered. The anticipated total sales or revenues are around 10,000 US dollars. Operational expenses are expected to range between 6,000 US dollars. The profits and sales will increase significantly after the business breaks even after around one year.
A feasibility study will be conducted in order to determine the unique services that might be enjoyable or appropriate for the targeted customers. These findings will ensure that funding and accounting procedures are completed effectively and in a timely manner. The information reveals that the business has increases chances of succeeding and fulfilling the diverse needs of the greatest number of children in the targeted neighborhood.
Charges for different services rendered will be competitive and friendly to the targeted customers. They will also be reviewed or revised occasionally depending on the suggestions or inputs gained from different stakeholders and community members. A wide variety of physical exercises, sporting activities, and computer games will be available to the clients. Parents and guardians will be allowed to join their children depending on the nature of play. The requested shop and cafeteria is expected to offer various items, sporting equipment, foods, and drinks to the targeted individuals. The main objective is to ensure that the proposed business idea is executed successfully and capable of delivering quality services to every child within the specified age bracket.
Conclusion
The above report has revealed that the establishment of a kids soft area is a promising idea that has the potential to deliver positive returns. If the requested tenant space is allocated in the selected shopping mall, more children will benefit significantly by getting high-quality services and pursuing their recreational and educational goals. Managers of Fun Town will remain cooperative throughout the period and act in accordance with the established T&Cs. In conclusion, Fun Town is a revolutionary business concept that is expected to transform the experiences of more children below the age of eight and their respective parents.