A parasail business plan is a fun plan to put together. Not as entertaining as parasailing itself, but a great opportunity to take a close look at the market need and to try to gauge consumer interest in this engaging activity. You should start the document by describing what parasailing is, its growing popularity, and the sort of services you'll offer (rentals, hourly sessions, daytrips, etc.). Make sure to assess the competitive landscape as well; if there are companies in the area that offer other “daredevil†activities or extreme sports, they should be considered at least indirect competition to your model. The ideal business plan should show:
• The start-up costs for your parasailing operation by category
• The estimated sales and operating expenses for at least three years
• The market need you fulfill (in your own words!)
• The target market for the service
• The regional market and industry strength
You also shouldn't be afraid to delve into some of the liabilities. Investors and bankers alike will want to see that you've given some real thought to the issues of insurance and permitting. You should also have a legal budget that will allow for contingency spending related to accidents and lawsuits, which could occur. Having a draft of the agreement that customer will sign is also a good idea, even if it's just an appendix item. The financial model should use assumptions that are reasonable without presenting an underwhelming output at Y3 or Y5. Need help with this document? The great team at MasterPlans can put the business plan together for you in as little as 7-10 days. Call a team member now! (877) 453-2011.
