A friend of yours (Bob) has asked you for help. They plan on starting a business offering tourists visiting Ireland guided tours around Dublin City but they have no idea of what to do or where to start nor do they have any idea of what to call the business. Bob is certain that he doesn’t want a partner and wants to do this on his own. Bob has been to the bank to discuss opening a business bank account and applying for a loan.
The Bank Manager has advised Bob to put together Business Plan for the business. The problem is Bob has no idea what a business plan is. Bob is also unsure of the size of the tourism market in Ireland and whether it would be a good idea to start a business offering specialist tour guides. You have offered to help.
1. Describe the business types you believe would be most suitable for Bob. Recommend one and then outline the advantages/disadvantages and the registration procedure to ensure it complies with any legal requirements;
2. You must also explain to Bob what a Business Plan is, what its for and, in relation to starting a business offering specialist tour guides in Dublin City what should actually be in the business plan. (You don’t need to actually draft a business plan for Bob).
3. You must conduct research on the Irish tourism market outlining its growth, numbers of people involved and the value to the Irish economy.
4. Finally, your must conclusion should state whether you feel it is a good decision to start a specialist tour guide to Bob. You must also support your conclusion with the reasons why.