Search Resources
Advanced Search
Tip
You can do this in standard search by "surrounding your phrase with quotes".
Find one or more words
or or Tip
You do this in standard search by typing OR between your alternate words.
Search Resources collapse
Share this page Email Print Tweet This Share to Facebook Digg it

Business Plan

Clear articulation of the strategic direction and actions for the development, marketing and management of a tourism business is essential for long-term sustainability. The development of a Business Plan should be informed by the findings of the ‘Situation Analysis’ phase of planning to ensure that all existing knowledge is considered and incorporated into the strategic direction of the business.Read more

Clear articulation of the strategic direction and actions for the development, marketing and management of a tourism business is essential for long-term sustainability. The development of a Business Plan should be informed by the findings of the Situation Analysis phase of planning to ensure that all existing knowledge is considered and incorporated into the strategic direction of the business.


Business Operation Tip

A Business Plan should identify key performance indicators and goals that measure the success of those elements that a business manager has control over eg. profitability

An effective Business Plan should:

  • Identify a long-term vision, mission and goals for the business in order to provide a common direction for development and operation;
  • Include a SWOT and product analysis of the business based on the findings of the Situation Analysis;
  • Identify the unique selling point or competitive advantage of the business and its products / services, as demonstrated by Southgate in Melbourne that developed a unique point of difference through careful planning and strategic communication with target markets;
  • Identify the current and future target markets of the business, including a market demand assessment;
  • Identify the strategic direction for the businesses including prioritisation of actions and strategies;
  • Identify responsibilities and timelines for the implementation of the Business Plan actions;
  • Include a financial analysis and forecast budgeting for business operations and identification of funding sources;
  • Identify key performance indicators (KPIs) that are aligned with the goals and vision of the business and that are directly linked to the outcomes of the strategic plans and those elements of the business that a business manager has control over; as demonstrated in the Bussleton Jetty Business Plan which identifies key performance areas and indicators for their business operation;
  • Provide a planning review framework to regularly monitor and review the success of the strategic plans against the KPIs, as demonstrated by the Greenhouse backpackers in Melbourne;
  • Include advice and input from a range of industry and planning experts;
  • Include a business exit strategy that is based on the business owners long-term goals.

    Business mentoring and support from Regional and State Tourism Organisations can assist small and medium tourism businesses in strategic business planning. The Tourism Victoria Excellence Module on Business Excellence provides extensive information and tools on strategic planning for tourism businesses including case studies of best practice organisations.

    Reduce

    Portal Resources

    Showing 1-6 of about 7 results
    Showing 1-6 of about 7 results

    Partner Sites results

    View more
    The Google Mini Appliance that drives Search Results for the STO Portal is currently being replaced. During this time 'Search' functionality will be unavailable. We apologise for the inconvenience & thank you for your patience. If you wish to find out more about Sustainable Tourism Online, please contact us on +61 7 3238 1900.

    Discussion results

    There are no results found.
    Preview Close