Ivy_Ridge_Final_Presentation

“Leave the Hassle, Come Stay at the Castle!”

IVY RIDGE CASTLE INN

http://www.ravenwoodcastle.com/

•Strategically Located- just outside the city atmosphere and right across from the Ohio Renaissance Festival.•It’s a castle outside, but home on the inside.•Ivy covered castle.•The Accommodations- 10 castle rooms, 6 cottages, 5 gypsy wagons•Great Hall- Breakfast and Dinner•Tea Room- Lunch, Pastries, and Tea•The Pub- Alcohol•Innkeeper or Staff member- Always someone available•Quality of Service

EXECUTIVE SUMMARY

The challenges ahead for Ivy Ridge Castle will include:

• Establishing our place in a market whose economy is currently in a downturn

• Gaining visibility in the media• Setting ourselves apart from the

competition

THE CHALLENGE

Ivy Ridge Castle Inn intends to provide a unique and inviting atmosphere that is both luxurious and comfortable whether our

guests want to kick back and relax or to walk about grounds admiring the views. Each guest will be treated with the kind of attention that is reserved for family. When our guests arrive we

want them to leave their troubles at the door and step into a world of luxury and rest. We are committed to being the

preferred Bed and Breakfast Inn in the surrounding Dayton area. 

For some the inn will be a romantic fantasy world removed from the harsh realities of modern day life, for others it will be a culinary oasis akin to visiting a multi-starred restaurant. 

Some will be surprised – and relieved – that the inn doesn’t take itself too seriously.  Guests often will remark that while the interiors could be called grand they are also whimsical and

wonderfully comfortable.

OUR MISSION

Service Strategy •Personal attention in regard to calls of inquiry•Time spent with a prospective customer is time well spent

Sales Strategy•Running a B&B is like hosting one continuous party•Convey a sense of place•Strive for GREEN and Sustainable

STRATEGIES

Our geographic target groups include:• The city of Dayton with population of about

150,000 people

• Travelers from the United States & approximately 10% are from other countries

• In 1999, the national B&B market reached $543 million dollars. Sales are expected to grow by 9% for the next few years

SITUATIONAL ANALYSIS

•Other B&B’s- a matter of taste•Hotels/Motels- generic •Specifically-

Great Wolf LodgeHammel House InnHilton

COMPETITION

Two customer groups expected:•Weekend getaway guests- people from the region that are looking to get away from their daily lives that come to Ivy Ridge Castle to be pampered and escape.•Travelers/vacationers- people who are destination-vacationing and prefer to stay at B&B’s instead of hotels.

TARGET MARKET

• Strengths- knowledgeable and caring staff, up to date technology and website, GREEN and Organic food growing practices, and carrying a certain pride about providing the best service we can to our guests.

• Weaknesses- limited space (64 persons max), weather that disrupts travel, a potential off season, economic downturns, the hiring of inept staff, inability to meet guests needs.

SWOT ANALYSIS

• Opportunities- opportunity to make guests’ stay enjoyable and memorable, local festivals to set up information booths, trade shows, expos and conventions, anyone in need of vacation or getaway.

• Threats- the competition, loyalty card programs of mega-companies and their ability to spend massive amounts of money to signage and networking, competitive pricing.

SWOT ANALYSIS

• Earn great guest referrals and implement a rewards program for guests that contribute

• To eventually be first pick amongst others to host a weddings, ceremonies, and other major events

• To create a B & B whose primary goal is to exceed customer's expectations (monitored through referrals and customer comment cards.)

MARKET OBJECTIVES

• Increase/maintain the number of visitors by:

-Soliciting new guests

-Retaining returning guests

• Cultivating a sustainable business able to survive off its own cash flow

• Develop a strong relationship with city of Dayton by:

-Creating positive image in the community and becoming active with events,, organizations, and corporations when applicable.

-Gaining relationship with local universities.

MARKET OBJECTIVES

•Print Ads•Press Release•Designer Post Card •Apparel•Gourmet Dinners •Car Magnets

•Grand Opening•Trade Shows, Chamber of Commerce Meetings, and Fairs•Word of Mouth •Monthly Events

MARKET STRATEGIES

•Website- Elaborate and Functional•Print Materials- Vistaprint•Word of Mouth- Referrals

MARKETING PROGRAMS

• The amount of profit or loss will be measured by:

-Sales ,ability gain visibility in the media industry, economic state, and industry growth

• Marketing Expenses are based on the initial expense for promotion; more will be added to reach the $75,000 Promotional Budget Goal. After the initial promotion there will be $225,000 left to use for continual marketing.

Marketing Expenses

Brochures $1,006.97

Thank You Cards $100.96

Business Cards $81.96

Banner $29.99

Designer Post Card Investment

$1,104.98

Car Magnets $64.99

Apparel $39.98

Press Release $100+

Trade Shows $3,000

Festivals/Fairs $350

Budget: $6,000 Total: $5,879.83

PROJECTED PROFIT-AND-LOSS STATEMENT

•Survey our guest•Comment log•Financial statements

CONTROLS