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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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