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Table of Contents

Business Plan: Aqua Diving Inc. - Part 13


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Aqua Diving Inc. Expansion Plan

Time Line (months) Learn and Establish Consolidate and Grow Go Global!
Phase 1 Phase 2 Phase 3
Aqua Diving Inc with a pool in upcountry New York Aqua Diving Inc at 5 US locations Aqua Diving Inc at 10 Global Locations
Kick-off -9 to - 6 months Look for existing building space (rental or purchase) or property
Determine the amount of time required to obtain business permits
Research and contact PADI Regional Manager or International Resort and Retailer Associations
Memberships of PADI, DEMA, Chamber of Commerce
Visit with others in network: attorneys, bankers, accountants, consultants, competition.
Obtain licenses
Prepare preliminary business plan and budget
Interview bankers or other sources of financing
Attend the Diving Equipment & Marketing Association (DEMA) Show or one of the big exhibitions Boot Düsseldorf (Germany), EUDI Show Rome (Italy), Salon de la plongée Paris (France), Salón de la Inmersión Cornella (Spain), Duikvaker Utrecht (Netherlands).
Sign lease or purchase property
Select contractor for leasehold improvements
Check zoning ordinances
Check utility requirements
Prepare leasehold improvement plan
Determine dive shop layout and design
Get in touch with scuba manufacturer sales reps and order scuba gear
Choose and meet with advisors: attorney, CPA, consultant, the PADI Members’ insurance agents, etc.
Review leases and contracts with attorney and advisors, establish form of business organization (Limited Company) and file papers
Arrange for insurance (business and health)
Obtain bids on major business equipment
Arrange delivery of equipment
- 6 to - 4 months Complete business plan including marketing plan
Prepare advertisements
Prepare final budget and review with banker
Order business systems: receivables, check disbursements, payroll system
Order signs for dive shop
Website development, testing, launch to let customers know you are coming
-4 to 0 months Make sure business filings and license applications are complete (trademark, patents, copyright)
Complete leasehold improvements or building
Arrange for telephone service installation
Open checking accounts
Sign up for credit card systems at local bank
Arrange for business announcement ads in local papers
Order announcements for dive shop opening
Arrange to give talks to community groups
Consider membership in civic and church organizations
Arrange for movers
Contact State Department of Workforce Development
Prepare job descriptions for employees
Write policy manual for office employees
Check local resources for personnel
Begin screening process for new personnel
In the US, contact IRS for booklets (apply for Federal Employment ID number)
Apply for state ID number
Find out about workers' compensation if you will have employees
Apply for seller's permit
Contact state for tax forms and employer's requirements
Obtain payroll withholding booklets from tax authorities
Review tax requirements with your accountant
Arrange for janitorial service, waste removal, laundry service, grass mowing
Order supplies: appointment cards, business cards, stationery, deposit stamp for checks, telephone message pads
Interview and select collection agency
Determine business hours
Determine pricing schedule
Order publications (price lists, brochures, receipt forms, etc.)
Purchase office display units for sales floor, equipment and furniture
Start setting up dive shop or resort
Schedule utilities to be turned on
Hire and train personnel
Establish petty cash fund
Prepare press release and begin advertisement
Deploy marketing strategy
Mail announcement
Plan an open house
Call everyone you know and let them know you are in business
0 to 24 months Test and improve Processes
Test and improve SoPs
Document Learning
Manage Cash Flows
unveil vision to the team
Train Team for expansion
Do dry runs on expansion
Create Collaterals for Venture capitalists
Appoint Consultants for Expansion funding
Explore and tie-up Venture capital funding and angel investors
Constitute market survey team to identify four potential sites in United States
Explore and tie-up Venture capital funding and angel investors
Identify Global Vendors
Discuss plans with Vendors
Rope in vendors and complete tie up
24 to 48 months Create Designs for identified US locations
Bring in Identified Venture Capital Funding
Identify local builders
Legal and Statutory Compliances
Create and enter into contracts with builders
Create Websites for each resort
Integrate each resort into corporate website
Identify manpower and make firm offers
On board and induct manpower
Prelaunch Marketing
Soft Launch
Identify 10 global locations
48 to 72 months Appoint consultants to do a risk analysis for each location
Risk appraisal and choice of only 5 locations
Create Designs for identified global locations
Bring in Identified Venture Capital Funding
Identify local builders
Identify local legal advisors
Legal and Statutory Compliances
Create and enter into contracts with builders
Create Websites for each resort
Integrate each resort into corporate website
Identify manpower and make firm offers
On board and induct manpower
Prelaunch Marketing
Soft Launch

This table above gices the complete roll out plan for Aqua Diving Inc. over a period of 7 years factoring about an year for prelaunch preparation and setting in place for the first resort in upcountry New York locations.

By no means this plan is either conservative – it is actually a very aggressive plan but it suits the promoters’ temperment and is ideal. This kind of aggressive growth in a fairly lucrative industry is what would attract the investors to put in their money. Convincing investors should not be an issue with this kind of growth plans.

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Venture Capital Funding

Business firms need finance mainly for two purposes – to find the long-term decisions and for meeting the working capital requirements. The long-term decisions of a firm involve setting up of the firm, expansion, diversification, modernization and other similar capital expenditure decisions. All these decisions involve huge investment, the benefits of which will be seen only in the long-term and these decisions are also irreversible in nature. Whenever a business firm plans to invest in a long-term project, it needs to assess the benefits that can be reaped out from that particular long-term investment and come to a conclusion whether that particular investment is profitable for the business or not.

Capital can be of various forms, say own capital, debt finance, equity partner being sought, venture capital etc. Venture Capital is a form of equity capital usually sought by fast growing private enteritis. The need for finance may vary from one organization to another as such some companies may need funds to start the company; some may need it for renovation or reinvestment purposes and various other similar needs. Firms that are into Venture Capital business usually make wise investment and they generally focus on a limited sector specialization like IT Infrastructure, Life Sciences etc (IVCA - Indian Venture Capital Association, 2007).

Studies on East Germany and Eastern Europe (The nianatzement of transf()rniati()n ill hast Cjerman tirms, 1996) reveal that the amount of capital required for the innovation of products and processes are typically surpass the funds that are with the firm and also the debt-financing capabilities that the firm has (Do Foreign and Domestic Venture Capital Firms Differ in their Monitoring of Investees, 2003). Venture capital organizations normally source most parts of their funding from large institutions, typically investment firms, like for instance fund of funds, financial institutions, and banks etc. These entities normally invest in a venture capital fund for a duration of 10 years approximately.

Venture capital firms necessitate entrepreneurs to report to them frequently thereby offering high amount of verbal opinions. Although it can be stated that entrepreneurs receiving capital from private investors would be comfortable with such frequent feedbacks and less reporting requirements, research reveals that these entrepreneurs aspire for greater involvement from their private investors particularly when it comes to the issue of financial expertise. Policy makers and financial practitioners in the recent past have strongly articulated their concern in the allocation of meticulously assessed findings on the accessibility and practicability/value of substitute policy involvements for Venture capital in order to encourage the origin and growth of highly prospective SMEs (Europa - Summaries of EU Legislations, 2010).

The most popular policies are frameworks for venture capital as set by policy makers is that there is wide scope for creation of a highly integrated financial market in order to ease the venture capital initiatives (Europa - Summaries of EU Legislations, 2010). In addition to the above, there are also plans for making the existing framework for venture capital more stringent by reviewing all the existing policies and framing new set of policies. Reduction of obstacles in taxing is also a recent initiative in this industry.

If for instance, a particular entrepreneur is willing to obtain finance through venture capital, it is extremely crucial that the entrepreneur involves himself with professional organizations thereby developing a strong network. This network will further help the entrepreneur to get into contact with private investors which is also very important.

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