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Cowal Cabins
Business Plan
WORD COUNT: 10752
Contents
1.0 Introduction ………………………………………………………………..……. Page 4
1.1 Business Plan Summary ………………………………………….…… Page 4
1.2 About the Business …………………………………………………..… Page 4
1.3 Business Description …………………………………………………… Page 5
1.4 Business Objectives ……………………………………………………. Page 6
1.5 Business Operations …………………………………………………… Page 8
1.6 Property Details ………………………………………….…………….. Page 9
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1.6.1 Location ………………………………………….……………. Page 9
1.6.2 Premises ………………………………………..…………….. Page 9
1.6.3 Cabins Description …………………………..………………. Page 9
1.6.4 How to get here ……………………………..…………..….. Page 10
2.0 Key People …………………………………………………………………….. Page 11
Page 15
2.7 Training Needs Analysis …………………………………….……….. Page 15
3.0 Marketing Plan ………………………………………………………………… Page 16
3.1 Market Research ……………………………………………………… Page 16
3.2 Target Market …………………………………………………………. Page 18
3.3 Marketing Strategy ……………………………………………………. Page 20
3.4 Consumer Behaviour ………………………………………………… Page 21
3.5 Industry Analysis ……………………………………………………… Page 22
3.5.1 Political ………………………………………………………. Page 22
3.5.2 Economic …………………………………………………….. Page 22
3.5.3 Social ………………………………………………………… Page 23
3.5.4 Technological ……………………………………………….. Page 23
3.5.5 Environmental ………………………………………………. Page 23
3.5.6 Legal …………………………………………………………. Page 23
4.0 Competition ……………………………………………………………………. Page 24
4.1 Competition Analysis ……………………………………………………..….. Page 24
4.1.1 Air BnB …………………………………………………………….… Page 24
4.1.2 Hotels …….………………………………………………………….. Page 25
4.1.3 Hunters Quay Holiday Village ………………………………… .…. Page 26
4.2 Evaluation of the Competition ………………………………………… …….. Page 26
5.0 Sales Process ………………………………………………………………… Page 27
5.1 Website …………………………………………………………….….. Page 27
5.2 Air BnB …………………………………………………………………. Page 28
5.3 Argyll Self Catering …………………………………………………… Page 28
6.0 Pricing Strategy ……………………………………………………………….. Page 29
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7.0 Financial Plan …………………………………………………………………. Page 30
7.1 Source of Funding ……………………………………………………. Page 30
7.2 Sales Forecast ………………………………………………………… Page 30
7.3 Running Costs Monthly ………………………………………………. Page 31
7.4 Start Up Costs & Funding Package ………………………………… Page 31
7.5 Break Even Analysis …………………………………………………. Page 32
7.6 Profit & Loss Statement ……………………………………………… Page 32
7.7 Year 2 Financial Information ……………………………………..….. Page 33
7.8 Conclusion …………………………………………………………….. Page 33
8.0 Contingency Plan …………………………………………………………….. Page 34
9.0 Growth Aims …………………………………………………………….…….. Page 35
10.0 Additional Information ………………………………………………………. Page 35
11.0 Appendix ……………………………………………………………………… Page 36
12.0 References …………………………………………………………………… Page 56
1.0 Introduction
1.1 Business Plan Summary
Scotland has been voted as one of the most beautiful countries in the world.
Dunoon is a small town situated in the West Coast of Scotland on the Cowal
Peninsula and has many natural attractions and activities such as hiking,
quadbiking, canoeing and more. Over the years, the highlands and islands
have witnessed in increase in tourists footfall due to improved travel
connections to Scotland’s mainland, allowing people from the rest of the UK
and abroad to explore more of Scotland.
Whilst there are many beautiful towns in the West Coast of Scotland, we have
chosen Dunoon, a 45-minute car journey from central Glasgow, made easily
accessible by train and ferry. The area sees many visitors every summer due
to the highland games, but also tourists visit all year round due to the seafood,
botanical gardens, and other natural attractions. We believe upcoming
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projects like ‘The Dunoon Project’ will only add to the tourists footfall in the
local area, so we would like to offer an accommodation service with an
attraction – our hot tubs.
Due to the pandemic, we believe the social distancing rules and covid
regulations may provoke people from staying at large holiday share venueslike our competitors, Hunters Quay Holiday Village. Cowal Cabins will provide
a budget accommodation sleeping 2-8 people with their own garden and hot
tub, creating a secluded and private environment for their holiday.
1.2 About the Business

In order to establish Cowal Cabins as a limited company we will follow the
steps laid out by the government which can be seen in Appendix (1). Once we
started the process, we would obtain the Government Gateway and ID
company, to login in the HMRC website and follow the governmental
instructions.
1.3 Business Description
Here at Cowal Cabins we believe there is a lot of potential for Dunoon to be
one of the up and coming tourist hotspots for Scotland. With many new and
exciting things coming to the area such as ‘The Dunoon Project’, Cowal
Cabins would like to offer our tourists a unique accommodation for their stay.
Our manager resides in the local area so knows Dunoon extremely well and
states “I see a lot of the hotels and bed and breakfasts in our town failing, and
this can only be down to the increase of Air Bnbs in the area. People
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nowadays prefer to have private self-catered accommodation. Which is where
we come in”. Whilst we are aware of our competitors, Air BnB and Hunters
Quay Holiday Village, we believe there is a gap in the market for Cowal
Cabins as we differ from the target market of Hunters Quay and offer
something new and exciting compared to the Air BnB accommodations.
Cowal Cabins provide a self-catering accommodation service in a small town
in the West Coast of Scotland. We offer a variety of cabins, ranging in sizes to
accommodate up to 8 people per cabin. Each cabin is equipped with all they
need for a self-catering holiday, including an oven, fridge, shower, beds and
more. We are also providing each cabin with a private garden, fencing and hot
tub so our customers can enjoy our hot tubs and cabin in private.
We believe Cowal Cabins can provide tourists with a unique accommodation
in comparison with our competitors. Since our target market are young adults,
we believe we can market Cowal Cabins as an ‘Instagrammable’
accommodation, and our hot tubs will be our main attraction. We conducted
our own primary research, which presented us with results that conclude
young people are looking for uniqueness and attractions when asked ‘What
would attract you to choose a particular holiday destination in Scotland?’.
We are going to build our cabins on a plot of land seen in Appendix (2).
Located a 5-minute drive away from the main town centre of Dunoon. We
have selected this plot due to the views, parking, and local amenities nearby,
which you can see in Appendix (3). It is walking distance to a pub, takeaway
and convenience store with a bus stop right outside. The location of our
cabins allows us to be at the centre of the attractions in the area. The bus
stop located outside has direct routes to Benmore Botanical Gardens,
Portavadie Spa and Outdoor Pools and even to Loch Fyne Oyster Bar.
APPENDIX (4) shows the survey results from our target market for “What
would attract you to particular holiday destinations in Scotland?”. The survey
results provide us with key information which highlights how Cowal Cabins
can suit the target markets preferred features for a holiday. Nature & Beauty
Spots – 75%. Argyll is the home of Loch Lomond and the Trossachs National
Park, along with numerous scenic walks such as Holy Loch and Morag’s Fairy
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Glen. Attractions – 52.5%. There is plenty to do in Dunoon and surrounding
areas, some of which include Studio Cinema, Ardentinny Beach and Castle
Gardens and Museum.
1.4 Business Objectives
– Short Term (0-12 months)
Once the firm has been legally established and project authorizations have
been issued. The company will prepare the site, marking, undertaking the
electricity and water supply. Then, the hedge and grass will be implanted. The
plan for the first year is to set up all the cabins to get the maximum return
possible in the high season.
During this first year, the priorities are to provide a high-quality customer
service and to learn about and from the shortcomings that could arise from
the running of the business such as promotion, technical and structural
problems.
During this first year, and due to the COVID-19 impact on the accommodation
business, we will focus on the internal market, assuring the health, safety, and
enjoyment of all our customers.
The project will be promoted through the website and social media, and
others targets described in the marketing report. We would like to generate
more income by offering ‘add-ons’ to our customers in the form of balloons,
local food hampers and wine and chocolates.
– Medium Term (12-36 months)
For the medium term, we will aim to have built the remainder of the cabins,
allowing us to accommodate more people. At this time, we would like to
continue increasing our following on social media through competitions and
giveaways. We would also like to begin partnerships with local businesses to
encourage guests to eat and shop locally. For example, anyone who eats at
‘Restaurant A’ will get 10% off their next stay at Cowal Cabins and vice versa.
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In order to attract customers all year round, we will consider adapting our
pricing strategy and lowering costs during quieter months. We would also
consider offering student discounts when booking our accommodation.
Our main priority here would be to begin repaying back our debts.
– Long Term (36 months onwards)
After paying back most of the debts and recognizing the demand of the
accommodation offered by Cowal Cabins, we would like to begin considering
expanding our company into other locations in Scotland. Four our first
expansion, it would be within a fairly close proximity to allow ease of
management.
We would aim to have a large following on social media by this stage which
will allow us to promote our new location to new and existing customers.
1.5 Business Operations
We would begin marketing Cowal Cabins a few weeks before they are due to
be completed. This will allow us to advertise an opening day and promote a
countdown for the launch of Cowal Cabins. This will promote our business to
the local residents of Dunoon and also allow us to gain a following on social
media platforms and through word of mouth. Our marketing plan will be
executed by Taylor as our promotion channels can all be accessed when
working from home. Customer queries will be answered through Facebook or
Instagram or by email, but our website will feature an FAQ section for
customers.
When the Cabins are fully built and have been installed and equipped with the
necessary components we will begin operating. In the first instance whilst we
only operate with 4-5 cabins, operations will be managed by our Head of
Marketing and Business Manager, Taylor. All bookings and promotion will be
done working from home as a way of reducing costs as we will not have the
need for office rent or utility bills. We will outsource our cleaners as this will
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eliminate the need for storage for our cleaning supplies and the cost and
insurance of white goods such as washing machines and tumble dryers. A
local cleaning company, Muir Cleaners comes highly recommended and have
quoted us with a cost of £32 per cabin for cleaning of cabin and hot tub,
laundry of beddings and towels, and for restocking toilet rolls, washing up
liquid etc. See Appendix (5).
Upon arrival at the cabins, customers will receive a code for the lock box
featured outside the cabins. This will eliminate the need for social contact
between Taylor and the guests in guidance with government coronavirus
regulations. However, customers will be provided with the Cowal Cabins
business phone number so any issues can be resolved as our manager
resides in the local area.
1.6 Property Details
1.6.1 Location
Geographical Coordinates (55°58’58.1″N, 4°57’03.7″W) or (55.982774,
-4.950976).
The Cabins will be in the former Holy Loch Community Centre, Main
Road (A815), Sandbank Road, PA23 8PA, Argyll & Bute (See
Appendix 6). The site is 2.4 miles from the main town of Dunoon where
local attractions are based. However, a brief walk along the road there
are pubs, convenience stores and a takeaway for customers.
There is a bus stop in front of the premises at the main road for the bus
lines 478, 484, 486 and 489.
1.6.2 Premises
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The plot has a total area of 2,421 square meters, being available 1941
square meters as there are trees locates at the back of the plot, as the
plan shows. (See Appendix 7).
The total area is bordered with a previous stone fence, but to improve
the privacy of the customers a hedge of Cherry Laurel will be implanted
on the North, East and South face. The selection of the Cherry Laurel
is based on a fast-growing bush with all year around foliage, improving
the privacy of the premises and providing a more relaxing environment
for the project.
1.6.3 Cabins Description
To create the cabin project, the area is split into nine smaller areas,
called plots. Each plot is called by a number 1a,1b, 2,3,4,5,6,7a and
7b.
Each plot has an area of 12x12m and is enclosed by a wooden fence
about 2 meters high having access through a small wooden gate as the
same high as the fence. (See Appendix 8).
In each plot, there is a wooden cabin being the dimension 5.4 x 3
meters, elevated from the ground 2 feet to allow a good drainage. At
the front of each cabin there is a wooden deck (2.03 x 3 m).
The cabins have a bedroom (2 x 1.5m), a bathroom (2 x 1.5 m) with a
shower and a kitchen-living room (2.4 x 3 m). Which can be used as a
bedroom as well. (See Appendix 9&10).
Beside the cabin, there is a Hot Tub (only available in 7 cabins), with a
gazebo. The area designated to this recreational part is 4x4m.
The rest of the plot is covered with grass, and garden furniture and a
barbeque would be provided for the management for a better customer
experience.
The cabins 1a and 7a are attached to the cabins 1b and 7b
respectively by a door with a key-lock to provided extra room for
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groups up to 6 six people. Also, the cabins can be used individually up
to 3 people when a Hot Tub is not required, by locking the internal
door. (See Appendix 11).
1.6.4 How to get here
Cowal Cabins is a 45-minute drive away from the centre of Glasgow,
making it the perfect destination for a weekend break. There are a
number of transport links coming into the town of Dunoon, making us
easily accessible to drivers and non-drivers.
– Drivers
There are two routes drivers can take to get to Cowal Cabins. Firstly,
via the Rest and Be Thankful (A83) which takes roughly 1.5 hours from
Glasgow. Secondly, driver down to McInroy’s Point, Gourock (45
minutes from Glasgow) and board the Western Ferries (no booking
required) which is a 20-minute ferry journey across the Clyde and takes
you into Dunoon town centre. From there, our cabins are a 5-minute
drive away.
– Non-Drivers
Buchanan St Bus Station in Glasgow has a service that takes people
over the A83 and into Dunoon town centre. There is also a train from
Glasgow City Centre which takes you to Gourock and there is an
adjoining passenger ferry – Argyll Ferries – which is a 20-minute ferry
journey across the Clyde. From here, you can either get a bus service
or taxi to Cowal Cabins.
2.0 Key People
Cowal Cabins has been established my 6 investors. Whilst all have contributed to
the business idea and its launch, the site and operations will be run by the Manager/
Head of Marketing.
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2.1 Manager and Head of Marketing
resides in the local area and came up with the idea for a self-catering
accommodation with hot tub due to the lack of budget, but luxury
accommodations in the area. She has also struggled to find accommodation
in Scotland with a hot tub that will accommodate a large group of friends,
hence why she thought of the idea and seen a gap in the market. She also fits
within our target market of people aged 18-30, so has been able to gather
opinions and insight from friends and from experience on what people look for
when booking a weekend away in the UK. We thought it be best fitting that
runs operations for Cowal Cabins as she lives in the local area, so knows a lot
about what our guests can do, where they can eat, and how to get here. It
also allows us to have someone close by in case of emergencies.
We decided to make manager as she also has experience in running selfcatering accommodation as her mum has a property on Air BnB, so she has
knowledge on what is expected from our business. took on the role of
marketing as she enjoys being creative, so this has allowed her to create
content for our social media platforms and website. She also has work
experience running a local business social media pages and website. Also,
since she is in the age range for our target market, we believe she would
know best how to reach new customers and what channels we should make
use of.
2.2 Finance Manager & Property Developer
After some good project proposals, accorded to develop the Cowal-Cabins
project as he evaluated the pros and the cons of the project. During his visits
and travelling around Scotland, he realised that there are some beautiful
areas with a great interest with a great potential for the business tourism.
Although he is not in the age-range of the business target, we think he
understands our market since he likes to visit some parts of the Scotland
using budget accommodations.
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His input for the Cowal-Cabins project was, firstly, to evaluate the plots
selected for the project, according to the dimensions, location, and potential
advantages of each plot for the good development of the business. Then,
once selected the plot, he drew the cabins distribution plans and researched
for the premises budget such as hedged, grass implantation, and fences. He
carried out all these tasks as he developed his topography and computeraided design skills when he worked as a topography assistant and agricultural
plots evaluation for the college where he did his agronomy degree in Spain.
The second part of my contribution to the project was to make the financial
part. has experience in this sector since he learnt how to make accounting
sheets as he has completed a HNC in business. Also, the business course
provided him with advanced Excel skills to undertake the accounting portion
of the business plan.
Today, as a support worker, has learned the importance of following health
and safety protocols to keep people safe. We have taken These safety
recommendations into consideration when designing the cabins, to avoid
contact between customers and maintain the safety distance.
2.3 Market Research & Sales
Firstly, completed research on tourism in Scotland, for example, the number
of visitors that are attracted to the country each year and the money that they
spend. She found out that tourism is one of the most important industries in
the country; it creates jobs, supports the local economy, and builds its
international reputation. The goal here was to see what nationalities were
traveling to Scotland in addition to the neighbouring regions. We find in the
top 3: The United States, Germany, and France. We also had to study the
profile of the travellers; if they were families, pre-nesters without children or
older independents. Finally, an analysis of the target was made. Indeed, the
people who most often go to Scotland are adventure seekers, curious
travellers or food-loving culturalists.
She then did some research to select our hot tubs. She studied their different
prices, their advantages in order to choose the best quality/price level. She
made a chart with their different costs associated with the installation and the
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gazebos. This included the cost of electricity and water as well as all the
maintenance products: chlorine, pH, and filters etc. She also took care of the
sales process, that is to say how people would be able to book our lodges. At
ease with computer tools and having already created our logo, she created
our website for the occasion.
Her curiosity and ability to work in a group helped to improve the organization.
In addition, her skills in the field of communication and marketing acquired
through her previous studies have allowed her to be totally at ease with
different tools such as the creation of the website and the logo which have
been beneficial to the organization.
2.4 Research & Development
contributed to the project through several tasks. She studied the current hotel
market as well as various paid community rental platforms such as Air BnB.
This study was important because it allows us to understand the competition
and to adapt our services in order to be innovative and as relevant as
possible. The market for accommodation such as hotels and camping are
very developed and very present in Scotland. She had to do a positioning
study so that we could clearly understand our positioning in relation to our
competitors.
has many skills that have enabled her to carry out various analysis and
market research such as management, analysis skills in economics. She also
had the opportunity to work in a marketing and communication company
which will be advantageous to the development of the company and
promoting it through social networks and other methods of advertising.
2.5 Interior Designer & Financial Advisor
Having previously worked in retail, has managed to gain a variety of skills
throughout the years. One that she has improved upon is adaptability, which
is useful as this means that when alterations are made to the business she is
able to adjust accordingly and efficiently. Commercial awareness is also a skill
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that she possesses as she likes to see what competitors have and then
challenge that. has a HND in Events Management, this course has provided
her with the knowledge of the importance and ensuring the safety of
consumers. This course also included information on different categories of
legislation in regard to the public and the significance of marketing when
starting a project. An understanding in these topics are particularly beneficial
when starting up a new business. has an interest in the creative aspect of
projects and enjoys examining the various themes and styles that are current
and then designing areas that are based off of this inspiration. The aspects
that she has taken part in handling are assessing the different design ideas
that could influence the overall look of the cabins, and continued to add items
to the inventory, researching furniture that would be suitable for a hot tub
cabin out for the furniture. She has also been part of the finance side of the
business, researching various companies to provide their products or service
and finding the different costs and quotes for utilities.
2.6 Research & Development
was tasked with investigating finical help from grants and loans that were
available. She also undertook research into the types of insurance policies we
would need and their associated costs.
possesses numerous skills, including problem solving, teamwork and
collaboration, computer skills, communication oral and written, I’m adaptable,
good time management skills, punctual. These would all help in the day to
day running of Cowal Cabins.
Qualifications she has completed from Level 4 Admin and IT – HND Admin
and IT before going to Uni. Which is why she put together basic letters and
some policies.
She also has experience as a Customer Relation Manager for John Lewis for
10 years dealing with high level complaints from Head Office. Also have been
administrator of local charity for 7 years. With her experience of dealing with
complaints, if any complaints were made she would be able to use her own
knowledge to investigate what has went wrong to ensure it did not happen
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again. As administrator for a local charity, she has had to deal with all kind of
admin duties from creating policies and procedures, to responding to emails,
passing emails to the correct person, to the post, ensuring bills are paid,
completing references, interview for positions to be filled.
2.7 Training Needs Analysis
Whilst we aim to achieve our short-term goals, we will not put staff through
any training. Our manager / head of marketing has work experience in
managing social media platforms for business and on running self-catering
accommodation. Our cleaners and handy man/ woman will be outsourced so
they will have the necessary skills and experience required to complete tasks.
Once we begin to expand, we will hire more staff and train them in managing
bookings and running social media platforms. We would also consider putting
the Head of Marketing through a short marketing course in order to gain
knowledge in international marketing so we can reach a wider audience. We
would aim to enrol into IT support classes which are online to aid Web-site
development and systems, update the website and manage possible Wi-Fi
disruptions in the cabins.
3.0 Marketing Plan
3.1 Market Research
We carried out primary and secondary research when investigating whether
or not our idea would be viable and desirable. Government publications with
statistics highlighted the number of domestic holidays in the UK per year, and
the survey we conducted showed us what our target market look for when
booking a UK holiday. This research along with field research to find out more
about the local area, has given us confidence that Cowal Cabins will appeal to
our target market and be a success.
Will we generate enough business in this segment to survive?
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We conducted a survey to see the trends of our target market with regards to
staycations in the UK. We believe that based on these results we tick all of the
boxes to attract customers and generate enough business to survive. For
example, appendix (4) shows that 75% of people said that nature and beauty
spots would attract them to destinations in Scotland. Our cabins are on the
doorsteps of Argylls Secret Coast, National Parks and Botanical Gardens.
52.5% also said that attraction was a key feature when selecting a
destination. Dunoon has plenty to offer, such as Woodlands and forestry
trails, cinema, amusements, boat trips, swimming pools and more.
We are also going to explore other avenue’s as a way of generating income
such as offering food hampers, balloons, and prosecco on arrival etc.
What is the demand for your product or service – is it growing or shrinking?
We believe that the demand for holidays in the UK will grow due to the
pandemic. Staycations in the UK are a safer option than travelling abroad and
there is also an increase in the ‘shop local’ movement, so UK residents may
choose to spend their holidays exploring other parts of Britain. Our survey
also presented us with statistics that 87.5% of people would choose to book a
hot tub lodge. This figure shows the demand we have for our service, it is the
highest sought-after option for accommodation for a UK holiday. (See
Appendix 12).
How might customer requirements and buying behaviour change in the
future?
After the pandemic, people are going to be more conscientious in respect to
the spending habits. Rather than spending thousands on a week abroad,
people may choose to spend a few hundred on a weekend away. The
pandemic may also provoke people from staying in people’s homes and in
shared accommodation venues such as holiday parks and hotels. Cowal
Cabins has a solution for both of these as the cabins are sectioned off so they
cannot see or interact with other guests if they do not wish to do so.
Are there new products in the pipeline that could make yours look outdated?
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On the contrary, we believe many self-catering accommodations are quite
outdated in regards to their interior and our cabins provide a modern and
trendy place to stay. Our hot tubs are an incentive to attract people and also it
is something different that most other self-catering accommodation do not
offer.
Could forthcoming legislation affect your market?
Legislation that may affect our market includes the coronavirus rules and
regulations. Eventually these will cease to exist, but for the time being, people
are being advised to ‘stay local’ which may hinder people travelling to our
lodges. There is also a rule that you can only meet with one other household,
this will prevent groups of friends coming to us. However, we believe by the
time we have established our business there will be no more restrictions in
place and many people will be looking to staycation in the UK.
3.2 Target Market
Our target market is 18-30-year olds, and one of the main influences for this
business idea. When trying to find suitable holidays for a group of friends,
although we encountered a large number of options, only a minimum number
did we find suitable to cater our friend group. Planning a weekend away, we
always looked for accommodation for the 6 of us, and what we noticed where
that the cheap alternatives were just people’s homes on air BNB, not really
somewhere you want to go for a girls weekend away. Alternatively, the ones
we did find suitable (log cabins, treehouses, glamping) were all really
expensive. Every single time we booked a weekend away, we would filter our
searches and always select ‘hot tub’, this meant the searches went from 300+
options, down to maybe 10, and almost every lodge were booked out solid for
the next few months. Hot Tubs are a trend right now, especially amongst the
younger generation. Quirky and ‘Instagrammable’ weekends away are what
the youth of today look for, and with so little options available, we present the
idea ‘Cowal Cabins’. Multiple lodges in the west coast of Scotland, self
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catered with a hot tub, perfect for a quick weekend away. Survey results seen
in Appendix (20) shows that 65% 0f 18-30-year olds would ‘very likely’ book
somewhere with a hot tub.
What is the growth potential and what trends can be observed?
Since staycations in the UK will be highly utilised this year, the demand for
accommodation across the UK will increase, Whilst many people are happy to
stay in hotels and bed & breakfasts, Cowal Cabins provides a more relaxing
accommodation for breaks away. We believe there is massive growth
potential in this business as not only will staycations become more popular,
but also Hot Tub Lodges are becoming a trend across social media platforms.
Thousands of young people take a quick snapshot in the hot tub and post to
their socials, would they do the same in a hotel room? Following this trend not
only means we can offer what our target market are looking for, but also
provides our business with free advertising. The majority of the younger
generation will post to their Instagram and tag out brand in the location,
creating great clickbait and followers for our company. When thinking about
this social trend, our Hot Tub Lodges are going to be ‘Instagram friendly’ with
a different colour theme for each lodge, modern and trendy interiors, fairy light
décor in the hot tub area and more can be added or adapted to suit trends.
In what way is the market segmented by customer type and structured in
terms of competitors?
Since we believe our business will appeal to the younger generation, couples
booking weekends away or group holidays, we are going to focus on
demographic segmentation for our market. This allows us to consider the
characteristics of the people we believe would use our business and market
our brand to appeal to them. Cowal Cabins believe we would appeal to both
men and women, aged 18-30. However, we also believe we could also target
lifestyles, behaviours, and income demographics. We believe that these three
demographics intertwine which narrows down our marketing focus. The
majority of 18-30-year olds lead quite a flexible lifestyle, many are students
and stay at home, some qualified with little responsibility meaning they will
have a disposable income. Many young people also copy one another
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behaviours, if they see a group of friends on social media enjoying a weekend
away, it will make them like the idea and look into doing something similar.
With this said, social media will be our main avenue for marketing, “Social
media usage has been broken down by EMarketer and the results by
generation are interesting, to say the least. To break down it down, 90.4% of
Millennials, 77.5% of Generation X, and 48.2% of Baby Boomers are active
social media users”. (Mohsin, 2020).
In terms of our competitors, the area we our establishing our business,
Dunoon, we think we will be a strong entrant into this market. Like almost
every region now, there is a huge presence on Air BNB of people renting out
their homes and flats for self-catering accommodation. However, we will use
this platform to advertise our business and feel like we can compete with the
other self-catering accommodation on this platform as we offer something
different from everyone else. Parking, free Wi-Fi and a hot tub. We provide
everything people search and filter for on Air BNB. (See Appendix 13).
Can you communicate to this market effectively?
We believe the main avenue for attracting customers is via social media. The
majority of our target market have some form of social media and we will be
focusing on Facebook and Instagram. we think these platforms will promote
our business to the target market and maybe persuade them to come to
Dunoon. We will also advertise on Argyll Self-Catering and Visit Scotland as
people searching on these sites are looking for holidays in the area and if we
promote our cabins, we can attract customers to choose our business.
3.3 Marketing Strategy
Our marketing strategy will be focused at our online platforms to begin with.
These allow us to promote our business for free as all content and posting will
be done by the manager/ head of marketing. We would aim to establish a
website and gain a strong following on our social media platforms (Instagram
and Facebook). See Appendix (14). We believe this is the best way to notify
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our target market that our business exists as the majority of our target market
will use social media. “Of all age groups, 18- to 29-year-olds drive the most
social media consumption — 88% percent of 18- to 29-year-olds indicated
using some form of social media; this figure was 78% for 30- to 49-year-olds
and steadily decreased among older age groups”. (Tran, 2018). In order to
gain a following on Instagram and Facebook we will be promoting giveaways
as seen in Appendix (15). To be in with the chance of winning, it requires
people to follow our page, share it with their followers and tag people in the
comments.
Since we want to attract young people to our cabins, we will offer social media
influencers a free night away in one of our cabins in exchange for a post
about our company on their Instagram page. This is method allows us to gain
a following on social media as our brand is tagged and promoted to 50,000 –
100,000 social media users.
As well as using social media platforms, we will pay a fee to be advertised on
Argyll Self-Catering and Visit Scotland. We think this would promote our
accommodation to people who are looking to stay in the area. Thirdly, we
would look to be featured on pages such as Wild About Argyll as a way to
attract people to the area. This page promotes local business for free by
writing articles about them and sharing them with their followers.
We will also create flyers to be handed out to local business for their
customers to pick up and have a look into what we can offer and our prices.
See Appendix (16).

21

3.4 Consumer Behaviour
Research conducted by (Travel Weekly, 2020) presented us with statistics for
future holidays in the UK for 2020. We believe these figures will increase due
to the pandemic. (See Appendix 17).
o 41% of people said a domestic holiday (UK) is very likely, which is a
6% increase on the year before.
o 63% of the adults looking to book a UK holiday were aged 16-24 and
67% of them were aged 25-34.
o 71% of adults also said they were looking to book a UK holiday up
north; this is a 6% increase from the year before and is also the highest
sought-after UK destination compared to the rest of the Britain.
The statistics show the increasing demand for a UK holiday from consumers.
We believe this presents Cowal Cabins with an opportunity to attract tourists
to our accommodation and the local area as we tick the boxes for the
predicted consumer behaviour.
3.5 Industry Analysis
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We have caried out a PESTEL analysis to establish and analyse the macroeconomic factors that may influence our company’s environment. It can help
to identify contemporary and future structural trends.
3.5.1 Political
We are going to ensure we follow all laws and regulations set out for
self-catering accommodation. We have safety measures in place and
have passed all safety standards etc. We also follow the coronavirus
guidelines set by the government. We will pay any staff we may hire
the minimum wage set by the government and are very careful about
the development of all the political laws that are in place.
3.5.2 Economic
We are a proven competitor against the hotel industry and as we offer
a home from home experience with cheaper prices, allowing us to
develop a wide customer base. Once our business has been well
established, it will create jobs for the local area and other locations
when we expand.
The pandemic may have an influence on the spending habits of
consumers in the following months which could impact Cowal Cabins,
so we need to monitor our bookings and consider reducing prices in
order to attract more customers.
3.5.3 Social
There is a trend on social media platforms, especially in our target
market, for showing off quirky and new venues or accommodations.
We believe we can market our business to suit these trends. Our
cabins are also a social hub for groups of friends looking for weekends
away. We also aim to eventually partner with local businesses which
will better the local community and engage the locals.
One negative social impact we are aware of is noise pollution.
However, we do not have a lot of neighbours and our cabins are all
insulated to reduce the risk of noise.
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3.5.4 Technological
We have several online booking platforms which takes the hassle out
of reserving your stay. It also gives us a platform to interact with our
customers and answer any queries promptly.
However, one aspect we need to watch out for are bad reviews. We do
not want any slander to prevent new customers from booking with us,
but technology gives people the opportunity to hide behind screens and
attack businesses. We will monitor this aspect closely and ensure any
complaints are dealt with quickly and amicably.
3.5.5 Environmental
All cabins will be provided with recycling bins and have signs asking
customer to dispose of waste correctly. Our outdoor lighting will also be
sensory to ensure lights aren’t left on whilst no one is outside. All
booking confirmations and invoices are sent via email to reduce paper
wastage.
3.5.6 Legal
We have outlined a clear booking policy for our customers to sign and
return before their stay in the cabins. This allows us to be protected
against any legal issues we may face. We also have all the necessary
insurance policies in place to protect us, our cabins, and our
customers.
The analysis of our external environment allows us to be prepared for any issues we
may endure. It gives us a deeper understanding of the industry we are operating in
and what factors we need to be aware of. It gives us the opportunity to adapt and
alter any strengths or weaknesses highlighted.
4.0 Competition
Competitive research is an integral part of market research. It is a crucial step as it
allows us to have an idea of our positioning on the current and future market. It also
helps us to set up a commercial strategy and thus to plan the financial aspect of the
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project. The launch of our business pits us against many competitors. However, in
Dunoon our competitors are few.
Cowal cabins recognise that they will face direct and indirect competitors. Many of
our competitors are indirect as they offer a somewhat different solution to the same
target market. These include Hotels, Bed and Breakfasts and Air BnBs. These
businesses will accommodate customers the same way Cowal Cabins will, with an
accommodation service, but different target markets will prefer a specific type of
accommodation. We believe we will offer something new for 18-30-year olds and
potentially attract them to use our accommodation instead of competitors.
4.1 Competition Analysis
4.1.1 Air BnB
Whilst Air BnB provides customers with a cheap self-catering
accommodation like Cowal Cabins, our customers will not be
residing in the home of the host or spending their weekend away
in a home stocked with personal possessions and well used
furniture. Cowal Cabins are new build cabins with modern and
fresh interiors, and we invest in a cleaning service after each
client leaves. We also offer additional amenities that Air BnB so
not provides, such as Hot Tubs, Towels, and add-ons upon
request such as birthday banners and food hampers.
4.1.2 Hotel

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The hotels in the area are very outdated and typically used by
coach parties with the average customer 65 and over. We will
not be competing with hotels for their customers as we do not
have the same target market. However, hotels can offer services
we do not provide like food and drinks, but people aged 18-30
are more likely to dine in pubs and restaurants rather than at the
hotel they are staying at. We also have the advantage of having
private gardens for each customer and they do not have to
share facilities with the public which is increasing in importance
due to the pandemic.
4.1.3 Hunters Quay Holiday Village
It is possible to compete with this type of company as they seem
to offer a standard, family-friendly service. Each of our lodges
has a hot tub and private garden. This aspect will allow us to

26
attract couples or single travellers looking for peace and quiet.
Although Hunters Quay Holiday Village is a larger organisation,
they market their lodges at families and for holidays during
school breaks. We will market ours so we have people booking
all year round, during the week and on the weekend as our
target market will have more of a flexible lifestyle than those with
kids and adults in full time work.
4.2 Evaluation of the Competition
How will competitors react?
We believe we will not be in too fierce of competition with our competitors as
our target markets are different. Whilst we provide the same service, our
business will be more centres around relaxing weekend sway, rather than
adventurous weekend away with the kids which is what Hunters Quay Holiday
Village focus on. The hotels in the area are also old-fashioned and marketed
towards elderly couples which is not who we aim to attract.
What do competitors offer and what price do they charge?
Hunters Quay Holiday Village offer a service similar to Butlins or haven. Their
service is very child and family friendly with over 100 lodges on site. They
charge £747 for a week for a family of 4 to stay in a lodge with a hot tub. This
work out at about £106 a night. We believe we can compete with these prices
as we offer more modern and luxury lodges which will be more tranquil than
up at the holiday village. Another competitor will be accommodation on Air
BNB, they offer a home away from home and prices start at £100/120 a night
for a 2-bedroom property. However, we believe we can compete with these as
we offer something unique and appealing to customers and know they would
be willing to pay more to stay at our lodges.
How do our competitors advertise and promote themselves?
Hunters Quay promote themselves via Facebook and their website. However,
they also are seen on numerous holiday websites such as hoseasons and
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Argyll Holidays. They also have billboards in areas such as Inverclyde, but
these advertise their holiday villages across Argyll, not just in Dunoon. Many
of the Air Bnbs in the local area have created Facebook pages, but heavily
rely on people looking for accommodation in Dunoon as their customer base.
We want our cabins to attract people to Dunoon and explore the local area.
5.0 Sales Process
The process of booking a stay in one of our Cabins can be done through one of 3
channels. This gives us multiple sites for promotion of the business. All booking
platforms will be overseen by the general manager to ensure no double bookings are
accidentally made.
5.1 Via Cowal Cabins Website
Our customers can find us on our website: www.cowalcabins.com and book
their stay. The site is presented in the following way. (See Appendix 18)
Lodges & Rates – What lodges we have available, what dates are available
and our prices.
Activities – What to do in the area, where to eat, transport services available
and their timetables.
About Us – Who we are and what we do. What Cowal Cabins offer to
customers.
Contact – Phone number and email available to answer any queries or take
bookings.
Clients are asked to pay a deposit to cover the duration of their stay. This will
be refunded after the inspection of their cabin when they leave. Terms and
Conditions can be seen in Appendix (19). We also have a ‘Book Now’ feature
available on the website and on Facebook as it’s a quick and efficient way for
customers to secure a booking.
5.2 Via Air BnB
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Our customers can also find our services via the Airbnb platform and book
one of our lodges. Indeed, we decided to appear on the platform because it
has a very high visibility and an important notoriety; it will be an excellent way
to make us known by our future customers. It is an excellent opportunity to get
a lot of bookings and to launch our short-term rentals on the slopes of longterm success. In addition, customers will leave comments on our properties,
which will build our reputation little by little. Indeed, we will have to consider
these reviews in order to improve our reputation. The visibility of an ad on a
platform such as this one will be the nerve of war to optimize the filling rate
and optimize our incomes in a first time.
5.3 Via Argyll Self Catering
Moreover, clients will also be able to book our lodges through Argyll Self
Catering, a second self-catering accommodation service. This one is more
based on the discovery of accommodation on the West Coast of Scotland and
more precisely in Argyll. This one will also be an excellent way to make us
known thanks to the gain of visibility it will generate.
All platforms will be managed and regulated by our General Manager. These
platforms will be important allies in the first instance in order to make us
known to a greater number of people. Our site will be useful in a second time,
so the customers will not pass any more by these platforms to reserve our
accommodations but will take directly contact with us.
6.0 Pricing Strategy
We have two sizes of cabins available to book all year round. Some sleep a
maximum of 4 people and some sleep a maximum of 8 people. We will charge
higher rates for the larger cabins since they will be more expensive to run and clean.
The cost will also be split by more people when booking so will work out at roughly
the same price per person if they were to book 2x smaller cabins.
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When deciding what price to charge our customers, we analysed our survey data
and competitor analysis data. Our survey results (See Appendix 21) highlight the
amount our target market would be willing to pay for a weekend away for only 2
people. The results show consumers would be willing to pay £200-300 for a 2-night
stay, working out at roughly £100/150 per night.
After analysing our competitors pricing, we agreed to market our cabins at a higher
price then Air BnB as we believe we offer more amenities such as Hot Tubs, Parking
and Free Wi-Fi. However, we will undercut the prices of Hunters Quay Holiday
Villages as we feel the prices are too high and will not appeal to our target market.
The prices we have decided are as follows.
Cowal Cabins (Max 4 people) = £120 a night
Cowal Cabins (Max 8 people) = £240 a night.
We recognise that in the West Coast of Scotland, the weather may be an influencing
factor when booking a trip away. We will have a gazebo installed as well as fencing
to minimise the impact of wind and rain. However, after our first year of trading we
will start to introduce offer such as ‘10% off all bookings in November’ as a way to
encourage visitors during quieter months.
7.0 Financial Plan
7.1 Sources of Funding
All 6 of our investors have submitted £20,000 to help fund the start-up costs of
this project. We will also attain a £300,00 loan from the bank, subject to 4%
interest over a period of 48 months. This funding will allow us to develop the
land, build all 9 cabins, install with power and water, fit all the furniture,
landscape each plot, and install the hot tubs. We will also have the funds to
market Cowal Cabins and begin to create a following on our advertising
platforms.
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7.2 Sales Forecast
To establish the price per cabin, according to the monthly breakeven
calculation, a spreadsheet was created. The completed spreadsheet could be
check following the link provided, Cowal Cabins Final Financial
Spreadsheet.xlsx
Firstly, to get the occupancy per month in days, three data columns were
created, Day available per each month, Available cabins per each month and
the Level of occupancy for each month. (See Appendix 22). The latter, which
is based on a seasonality monthly adjustment, will provide a precise monthly
forecast modifying the total occupancy data.
In order to obtain the estimated monthly sales (w/o VAT) in £, The total
occupancy will be multiple per the Price Cabin without VAT. This will be
calculated automatically by the Price with VAT and the VAT rate, being these
to data needed to input on the Excel.
The calculation from the Price with VAT is based on the customer price
appreciation, being rounded prices more acceptable than with decimals.
After the Calculations, we obtained £ 174,240 as the Total Estimated Sales
for the Year.
Moreover, a distinction per cabin was created based on the price per cabin.
The cabins 1a and 7a have a lower price, due to they do not offer Hot Tubs.
So, based on the price selling price for each cabin (w/o VAT), the average day
per month that each cabin would be in used and the number of months. An
annual total per cabin is gained. Adding the annual total per each cabin we
obtain the total sales, which is £203,328, providing an average monthly sale
of £16,944, which could be contrast, in return, with the breakeven per month
obtained from the Breakeven spreadsheet, being £12,513.
Therefore, the estimated monthly sales provide the Sales forecast adapted by
the parameters of Seasonal occupancy, Number of cabins available, Days per
month and the Price per cabin. The Total estimated is contrasted against the
Year Breakeven, if modifications are needed to reach the Breakeven they
could be made adapting the factors described above.
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7.3 Running Costs Monthly
On the Purchase Forecast, we have calculated the different purchases and
costs, hot tub products, Cleaning services and electricity. All of them are
variable, depending of the hired days. (See Appendix 23).
Moreover, the Hot Tubs products are estimated as the 5% of the of the sales
forecast as they need to be change per each use. The cleaning monthly
service cost is calculated multiplying the number of occupancies per month by
price of the cleaning services. The monthly cost of the electricity is estimated
by the KWh per Day and cabin, multiply by the following factors, Number of
occupancies, KWh price and a Seasonal Adjustment. The number of KWh
per day is calculated in based of the use a radiator 24h which is included in
the room. The price of the KWh is according to the average price for a KWh
for Scotland.
7.4 Start Up Costs and Funding Package
On the cashflow spreadsheet for the year 1 (See Appendix 24) are recorded
all the cost entries for the business and the Income which were calculated on
the sales forecast spreadsheet.
The company will sign a loan at 4% of interest and payback in 48 months.
During the running of the financial year, the cashflow closing balance was
positive despite some negative monthly net cash flows, finalizing the year with
a closing balance of £95,121. The applicable VAT is 20%. The Vehicle
Insurance, Other Insurances, Printing Advertising and Plot are excluded of
VAT, following the HMRC guidelines.
7.5 Break Even Analysis
To figure out our Break Even (See Appendix 25), we took our overheads +
drawings / gross profit. This provided us with the following figures.
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£150,158 = Break even cash sum per year
£12,513 = Break even cash sum per month
£3,128 = Break even cash sum per week
£626 = Break even cash sum per day
Essentially, we would need to have 5 out of 9 cabins booked per night. (Or 2
larger cabins and 1 small cabin).
7.6 Profit & Loss Statement
The Project Profit & Loss Account provides a loss for the first year of £41,584.
(See Appendix 26).
The Project Balance Sheet foresees a Net Assets of £306,339, being square
with the Equity & Liability. (See Appendix 26).
7.7 Year 2 Financial Information
For the year 2, the sales forecast has been modified by the Occupancy %, as
the increase of the business due to the marketing, however the values shows
an increasing per the high season. The price per Cabin would be the same as
the first year. (See Appendix 27).
We foresee an 1% price increase for the hot tub cleaning products due to the
COVID-19 pandemic.
The price and estimation for the Cleaners and Electricity will be the same, as
we do not foresee an increase on the KWh and the contract with the cleaners
would be the same. (See Appendix 28).
33
The Cashflow spreadsheet (See Appendix 29) shows that the monthly cash
flow will be improved by the increasing on sales. The total cashflow, at the
end of the financial year, will be £8,353, having a closing balance £103,474.
The projected Profit & Loss Account shows a profit £23,333. (See Appendix
30).
The projected Balance sheet (See Appendix 30) for the financial year shows
decreasing on the Net Assets due to the depreciation of the fixed assets,
which have a four-year 100% amortization for all the assets no applying any
residual value.
Capital & Reserves presents the same capital £120.000, accounting the
Retained Earnings from the previous year (£41,584) and the foreseen profit
for the year 2, £23,333.
7.8 Conclusion
After running the projected computations, we foresee stable growing sales
due to the marketing research. Also, the accounting shows that after the
second financial year, the company would have enough cash flow if any
external restriction affected to the running of the normal tendency.
After the financial year 4, the company will have paid back in full the loan,
increasing the benefits by £87,000 per year, allowing to the management to
decide about future investments and make drawings to the shareholders of
the company.
Also, the company could be more competitive allowing to cutdown the prices
of the business if it would be necessary.
8.0 Contingency Plan
We have assessed the risks we may encounter and have developed a contingency
plan to help us prepare and respond to these incidents. This allows us to have
options available should one of these events take place.
34
9.0 Growth Aims
– Enter New Markets
We would like to broaden our target market and attract adventure seekers (hikers,
hillwalkers etc). We would look into offering a bike rental service as well as shoe
cleaning facilities.
– Expand the Business
We would like to open another branch of ‘Cowal Cabins’ in another small town in
Scotland. Expanding would create more job opportunities and increase brand
recognition.

35
– Build the Workforce
Invest in new employees to help manage booking, day to day running’s of the
business, marketing, responding to client bookings and queries.
– Increase Occupancy Rate
We would aim to be fully booked most weeks. To achieve this, we will adopt new
pricing strategies or introduce offers to gain new customers or to encourage loyal
customers to book again.
10.0 Additional Information
Appendix (30) – (36) highlights quotations we have attained for costs of running and
designing the cabins. This allows us to gain an accurate insight into the start-up
costs and monthly running costs of the business.
Appendix (37) and (38) demonstrate the safety measures we have in place to protect
our customers during covid. We also have our annual checklist for inspections that
will take place once a year to fix or prevent any problems. Both documents will be
made available on our website for customers to view for peace of mind.
11.0 Appendix
Appendix (1) (Set up a private limited company, 2021)
36
Appendix (2) (Sandbank Site, 2021)
Appendix (3) (Holy Loch Site, 2021)
37
Appendix (4) (2021 UK Holiday Survey, 2021)
38
Appendix (5) Cleaning Quote from Muir Cleaners.
Appendix (6) (Jones, 2021)
39
Appendix (7) Satellite View of premises and layout.
Appendix (8) Cabin Plots and Measurements.
40
Appendix (9) (Quick-garden.co.uk, 2021)
Appendix (10) (Quickgarden.co.uk, 2021)
41
Appendix (11) Layout of Cabins and Plot Sizes.
Appendix (12) (2021 UK Holiday Survey, 2021)
42
Appendix (13) (Survey: What Guests Want in an Airbnb – IPX1031, 2021)
Appendix (14) Cowal Cabins social media pages (Instagram and Facebook).
43
Appendix (15) Cowal Cabins Giveaway featured on their Instagram.
Appendix (16) Cowal Cabins exemplar flyers.
44
Appendix (17) (Travel Weekly, 2020)
Appendix (18) Cowal Cabins Website. (www.cowalcabins.com)
45
Appendix (19) Cowal Cabins Terms & Conditions.
46
Appendix (20) (2021 UK Holiday Survey, 2021)
Appendix (21) (2021 UK Holiday Survey, 2021)
47
Appendix (22) Cowal Cabins Year 1 Sales Forecast.
Appendix (23) Cowal Cabins Monthly Running Costs.
48
Appendix (24) Start Up Costs and Funding Package.
Appendix (25) Break Even Analysis
49
Appendix (26) Profit and Loss Statement & Balance Sheet.
50
Appendix (27) Year 2 Sales Forecast.
Appendix (28) Cowal Cabins Year 2 Monthly Running Costs.
51
Appendix (29) Cowal Cabins Year 2 Cash Flow.
Appendix (30) Year 2 Profit & Loss Statement and Balance Sheet.
52
Appendix (31) Quotes for gardening prices.
Appendix (32) Quotation for turf.
53
Appendix (33) Fencing costs.
Appendix (34) Quote for tine tiller hire.
54
Appendix (35) Hedging Quotation.
Appendix (36) Scottish Water Charges.
55
Appendix (37) Covid19 protocols and safety measures.
Appendix (38) Annual checklist for cabins.
56
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✓ I have read and understood Regulations 3.49—3.55 of Chapter 3 of the
Regulatory Framework of the University of the West of Scotland regarding
cheating and plagiarism;
✓ This assessment is the result of my own work, except for those parts that are
explicitly referenced, and contribution of others is clearly indicated;
✓ No material presented in this assessment has been written, wholly or in parts,
by any other person(s);
✓ This assessment has not been submitted — partially or in full — in support of
the completion of assessment(s) on any other module, regardless of previously or
the current academic year (self-plagiarism).