What is your business strategy, including mission, vision, major objectives, and strategic plan for ensuring business success?
You probably thought about mission, vision, etc. earlier, but now it is time to rethink when you have the whole picture in view. The three to four pages Executive Summary is the last element of your business plan, and the first thing a bank representative, potential investor, or potential buyer will read. It must be crisp and concise, yet comprehensive as it needs to summarize all the key elements of your plan.
Who are your customers and why?
Lifetime Getaways Inc. is an all-inclusive rental property company that specializes in
beach homes and condos along the coast in Florida. Our customers are; family-friendly, middle
class, and upper class people from all over the world who are seeking to take a vacation by the
beach. With cleaning services included, a nautical beach themed home and a perfect walking
distance to the beach, Lifetime Getaways Inc. is the perfect rental property to book a vacation
with, and with 1,200 miles of sand beaches and 1,800 miles of coastline (Florida Quick Facts,
2017), Florida is the perfect beach destination.
Family- Friendly
Being family-friendly is critical for Lifetime Getaways Inc. because a large portion of
families take a vacation by the beach each in year in Florida. Families travel from all over the
world to enjoy the sunshine and beach activities. With all the beaches in Florida, there are 25
beaches that specialize in being family-friendly, those beaches are; Key Biscayne, Sarasota,
Mexico Beach, Naples, Cedar Key, St. Augustine, Destin, Fort Myers, Islamorada, Jacksonville,
Sanibel Island, Miami Beach, Fort Lauderdale, Key West, Clearwater Beach, St. Petersburg,
Jupiter Island, Anna Maria Island, Marco Island, Delray Bach, Siesta Key, Hollywood, Amelia
Island and Cocoa Beach (VacationIdea Staff, 2017). Lifetime Getaways Inc. has many homes
and condos available for rent in these locations to attract more families who are seeking to take a
vacation in Florida.
Middle & Upper Classes
Along with families, Lifetime Getaways Inc. also has a majority of its customers from the
middle and upper classes. An average cost per week to rent a condo in Key West is about $2,000.
The average for other beach locations in Florida is between $1,800 and $3,000 per week.
Lifetime Getaways Inc. prices per night differ depending on the location. For example, one of
our condos with two bedrooms and two bathrooms available to rent in Islamorada, Florida is
$362 per night averaging to about $2,540 per week. A security deposit of $200 must be paid
when booking any of our rentals. Renters will receive their security back one to two weeks after
their stay once it is confirmed that there are no damages. Our all-inclusive rentals also provide
cleaning services and transportation if requested by the renters. Another example, one of our
homes with two bedrooms and two bathrooms available to rent in Cocoa Beach, Florida is $280
per night averaging to about $1,963 per week. Our prices differ depending on the high demand of
traffic in the specific location. Cocoa Beach is popular, but not as popular as Key West which is
why our condos and homes located in Key West are pricier. We have more customers in the
middle and upper classes due to our prices per night to rent one of our beach homes or condos.
Middle and upper classes have a steadier income rather than College students wanting to take a
vacation on Spring break. A middle class person makes an income between $46,000 and
$125,000 per year. An upper class person makes an income higher than $125,000 per year.
