A cruise ship business plan is a document used to get funding—typically in the form of angel investment—for a licensed ship that will carry passengers on expeditions in U.S. or international waters. While most consumers think of cruises as grand, week-long affairs in the lap of luxury, the industry is actually far more varied than that. Some regional cruise lines function more as sight-seeing and nature excursion trips, and while the accommodations are handsome, the experience is far removed from a ritzy Royal Caribbean cruise. Importantly, both types of experience fall into the same industry—and no matter what your cruise line offers, you'll need to put all of these eggs in the same basket as you do your research. So what does your business plan need to address? Start here with the basics:
• Who is in your target market domestically?
• Do you focus on trips in one particular region? Explain.
• What are the prices for a typical trip?
• Do you have ocean-view and window-less cabins, and how do the prices differ?
• What forms of day-trip or "on-land" excursion might you offer?
• Where are the competing cruise lines you're most worried about?
Your business plan should look at competitive comparables in great detail—who are the biggest providers, which ones are closest to you, and who offers something most similar to your flagship cruise? Remember this could be big companies like Carnival, or smaller regional lines, or both. You also need a marketing strategy part that addresses about how you plan on distancing your cruise ship from these competitors. What can you deliver for paying customers that they generally fail to provide? Add in a management summary with details on your executive team and make a full pro forma financial model showing 5 years (at minimum) of revenues and expenses. The break-even point and net profit percentage you should you be reasonable throughout the model. MasterPlans is the industry's leading business planning firm and we have drafted successful business plans for boating companies and small cruise lines in the past. Call us today to learn about the option of hiring a professional: (877) 453-2011.
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