Bangkok Sports and Leisure Center: Business Plan Dissertation
Volume: 28 pages Style: APA US English Chapter 1 Introduction 1.1 Background Statement 1.3 Independent Study Objectives 1.4 Research Questions 1.5 Problem Statement 1.6 Research Limitation 1.7 Future Trends of Real Estate Development Chapter 2 Literature review SWOT Analysis 2.1. Marketing 2.1.1. Market Mix 2.2. Operations 2.2.1. 2.3. Finance 2.3.1. Risk Management 2.3.2. Breakeven Point 2.4. Conceptual Framework Chapter 3 Research methodology 3.1 Research Methodology 3.2 Research Coordination Schema 3.3 Research Target 3.3.1. Target Population 3.3.2. Data Collection 3.4 Data Analysis References
1.1.1. The Business Inspiration
Initially, this idea by the researcher to develop a sports and leisure center was born after he thought about places to take his girlfriend. The researcher specifically thought about a place that that his girlfriend and him would watch popular movies, shop for other commodities while also having fun with food and drinks. Therefore, with this idea in mind, the researcher thought much about coming up with a place where people could hangout energetically through sporting activities such as; players get to meet and play different games; do exercises and also have fun and other leisure activities. Hence, the business idea was to particularly develop a one-stop-shop for players. In addition to this, the researcher intends to develop a trendy, luxurious, modern, high-tech, fashionable sociable and celebrated complex that would not only enable people to go for shopping for all the current products and services, but also a place for the sports oriented people to meet and play different indoor games while interacting in flexible sports and avoiding the distractions from the harsh environmental conditions. The researcher is experienced in Primary and Secondary purpose-based Activities (PSA), and intends to collect the various real estate models from different areas that would be effective when establishing a unique sports and leisure complex/center in Bangkok. In this case, the researcher is described as the business owner and the real estate business is referred to as the Bangkok Sports and Leisure Center Business Plan.
The researcher made an effort to look into various business models addressing the real estate business industry. Particularly, he was concentrated in Bangkok. In the studies, the business owner found out that the Thai people, specifically those in Bangkok, play less sports as they are unable to match with the current social context that includes the trends, luxury, hi-so, hi-tech, favorable and celebrated systems. The researcher concluded that this could be the reason as to why people in Bangkok are found of going to shopping malls with updated technologies. The researcher made the decision to come up with a place to hang out while playing the indoor sports that he intends to develop in the system.
More so, looking at the different models from the investments researched on in the real estate, the researcher found out that investing in real estate involves a much relatively favorable reward or risk profile, but also the liquidity is important when looking at the existing strategies and plans to start a real estate business. From online videos, television interviews and podcasts from various stations, the researcher found that the location of a real estate business is primary as it addresses many other factors such as the proximity to social amenities, peaceful and ready market, the valuation and management guidelines in the areas. In other words, the location would allow the researcher to find out about the market and the overriding tax issues. This involves a business that helps a real estate business to meet the long term goals that the business owner intends to achieve. In this case, it is important to check the ownership, type and intended use of the market and what establishments are in the locality that will allow the business owner to address the location.
In addition to this, the value of the business or the property is also an important aspect to look at when starting a real estate business. From the different searches conducted, the researcher found out that it is important to look at the financial factors when starting such a business whereby the listing on the expected sales, investments, insurance premiums and general taxation will be important for these business ventures. Increasingly, from the expert’s views, the landlord should be one with a positive and encouraging background. The business owner should check on their reputation to the locals and find out more about any outstanding dues and taxes and how the renewal options are to be met by the landlord when starting a sports and leisure complex or center.
Besides these personal findings, the business owner found out that the mall will definitely have an amount of cash flow that includes the depreciations that will be noted in the long run. This will help the new business address the current and the expected future earnings that would enable the new estate owner to meet all the payment capabilities. The real estate business is one complicated and therefore, requires a very innovative and creative business owner to ensure the business not only breaks even early enough, but can make maximum profits within a short period and can withstand any form of recession in the market. These findings were significant in the decision to develop the idea and the inspiration for the complex development.
With these findings, the researcher, who as presented above, is involved with PSA, came up with the idea to start the Bangkok Sports and Leisure Center, an all-inclusive complex in a rental area in the city. This would include the landlord of the facility to be used for the center.
1.2 Business Overview
1.2.1. Introduction to Real Estate Business
Going to the malls is not just about shopping and dining, but it is all about having different experiences and leisure activities (Refmax Properties, 2015). On the other hand, real estate is described as a make-up of buildings, land, along with the resources that might include the immovable properties, with an investment vested in the items of the buildings or the hosing in general (Reikli, 2012). Contrarily, real estate as a business addresses the profession of buying, selling or renting buildings, land or housing (Reikli, 2012). Based on these views, the authors agree that the buildings could be a complex or a center, with similar apartments, owned by individuals with common grounds within a complex’s grounds that are owned and shared jointly. In fact, entrepreneurs in real estate could develop a condominium with a complex or center with apartments for individuals with a common ground within the center that can hold events, indoor sports while they are managed and made available to outside businesses (Refmax Properties, 2015).
In Thailand, the sports and leisure centers have been designed to achieve a world class and sociable environment xxxxxxx. This is characterized by offers in quality outdoor and outdoor gaming facilities, cinema centers, libraries, restaurants and shops from where customers can get all the products and services they want (Richumpoo, 2013). For example, in Bangkok, with a reputation of ‘A shopping Mecca’, there are conceivable centers such as: Jatujak Market, The Big Mango and Sub Zero Club (Sriyam, 2010). These centers are open each day of the week for sports enthusiasts who are allowed to go play their favorite games while they have entertainment, fun and leisure (Sriyam, 2010). These centers are famous for offering indoor playgrounds for games such as Basketball, Bad Minton, and Bowling, Ice skating, Lawn and Table Tennis and Martial Arts (Sriyam, 2010). Increasingly, the complex facilities and centers have entertainment sports for cinemas and films while they have shopping centers and restaurants in which the patrons can visit within one place (Sriyam, 2010).
However, with the rapid growth in the real estate business in Thailand, there is a need to upgrade the competitiveness of the existing sports and leisure centers in the market. More so, there is need for differentiating the products and services that are offered in order to attract the already existing large market. Beyond this, the people of Thailand are now adapting to western styled cultures, sports, games, cuisines of different nationals as they are now affiliated to the social fundamentals of the Western culture. Therefore, product differentiation is needed amongst other strategies to increase competition in Bangkok by targeting people who love and play different sports and can do these activities in centers that provide an alternative for leisure, entertainment and shopping for personal and family wants (Refmax Properties, 2015).
Whilst the sports and leisure is one area that is of significance to achieve a competitive edge in the Thai market, a business owner seeking to start the new sports and leisure complex needs to understand the existing market conditions such as the rent for the complex, the landlords’ previous clients, taxation and more importantly the existing financial costs. These costs could be the premium taxes, outstanding arrears on tax, depreciation and marketing costs (Refmax Properties, 2015).
1.2.2. Consumer Influence on Sports and Leisure Centers
Sports and leisure centers are required to offer recreational and leisure advantages to the people of Bangkok based on their individual perceptions and wants (Mothilall, 2012). With this in mind, this kind of business is particularly based on the customer needs and wants, and especially the preferences of these customers. As a matter of fact, the customer is the main reason as to why the business owner wants to develop a sports and leisure center in Bangkok. Along with this, the Thai population has grown significantly in the recent past and much of this population is now inclined towards the western styled activities in sports, food preferences, shopping needs and types of activities when having fun (Mortel, 2014). Many of these citizens are found to having such times with their families while also making use of the sporting facilities, movie theaters, shopping malls, children’s play stations and trying to meet the current social needs of the markets (Sriyam, 2010). Some of these needs of the customers are seen in various centers such as: Thana City Sports Club, The JJ Market and The Sub Zero Club. For instance, at the JJ Market, with a daily open day for families and all people, there are indoor playgrounds for the kids, swimming pool facilities with slides and other entertainment spots like Art Cinemas and film clubs (Sriyam, 2010). On the other hand, Thana City Sports Club is a world class family membership facility inclined towards having a family and friendly based environment (Thana City Sports Club, 2015). The club has a library, an outdoor ground, a Bad Minton court, indoor Squash, Tennis and Yoga areas. More so, the center offers snacks for the patrons and the members can hold themed parties such as the Songkran, Halloween and Christmas parties (Thana City Sports Club, 2015). Differently, The Big Mango sports center offers an entertainment spot, indoor skating grounds, amusement parks and shopping facilities for all those who visit the sports center.
Each of these sports and leisure centers require the owners to meet the requirements and needs of the customers. However, since the business owner cannot address all of the aforementioned factors at ones due to various limitations such as time and budgets, there is need to do this independent study. This will help the business owner to come up with a proper business plan for the Bangkok Sports and Leisure Center (BSLC) that could be significant in attracting investors and used by future business enthusiasts.
This study aims to obtain valuable information from the potential customers, landlords and entrepreneurs in the real estate business in order to establish a business plan for a sports and leisure center in Bangkok.
The key objectives for the study will be:
1. To find out the market characteristics from a real estate perspective.
2. To determine the various trends of the customers and landlords and their behaviors that affect the real estate business services in Bangkok
3. To establish the various opportunities to use to start a sports and leisure center in Bangkok
4. To develop a business plan for a sports and leisure center in Bangkok
Based on these objectives, the research questions developed include:
1. What are the various characteristics of the real estate business?
2. What are the different behaviors and trends by the landlords and customers that affect real estate business services in Bangkok?
3. Which are the opportunities in Bangkok that could be used to start a sports and leisure center?
BSLC Plan
Required sources (Mainly recent sources between 2005 to 2015)
