The business | Bed and breakfast business plan
Page 5 of 41
1. THE BUSINESS
1.1 NATURE OF THE BUSINESS
Extravagant Luxury Bed and Breakfast was registered in 2009 as a venture that specializes in providing hospitality related products and services. This venture is located in Krugersdorp, Gauteng Region. The business has been active since inception and has acquired a steady flow of customers seeking accommodation facilities. The owners intend to extend the service range to include conference facilities, catering services and additional accommodation facilities.
1.2 LEGAL ENTITY
Extravagant Luxury Bed and Breakfast was registered as a Close Corporation and currently has two members. This form of entity was chosen due to its easy registration procedure and the limited liability which comes with it.
1.3 THE MANAGEMENT TEAM
The Bed and Breakfast is managed by Doug and Heather Auret. Doug is a former Bar Manager and has vast experience in the hospitality industry. Heather is an entrepreneur who has previously run a boutique, small retail store and restaurant. While the entrepreneurs have vast experience in the hospitality industry, they will need complementary skills in Finance and Accounting, Marketing and Operational Management. This shall contribute to the efficient and effective management of the expanded Bed and Breakfast.
1.4 THE LOCATION
Extravagant Luxury Bed and Breakfast is located in a residential area at 13 AA Street, Krugersdorp, Gauteng province.