business plan small cruise business (1mil$ business)

Business plan for Acquanetta Entertainment Cruise by www.researchoptimizer.com

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F or mor e in f or mat i on p l e as e c ont ac t

ekat er i n a@ r es e arc h opt i mi zer .c om

www.r es earc h op t im i zer .c om

+9 7 25 4 9 13 7 01 3

mailto:[email protected]

http://www.researchoptimizer.com/


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S ec t i on O n e

E xecu t i ve s u mmar y

Acq u an et t a E nt er t a i n ment Cr u is e, LT D. (A EC) wi l l c r eat e a q u al i t y

wat er t r ip c ru is e i n Mar in a B ay, S in g ap or e, t o s er ve t our is ts c om i ng

t o S i n g ap or e. T h e c r u is e w i l l b e d es i gn t o c r e a t e q u al i t y t r ip

e xp er i enc e t o f ami l i es an d cus t omers of mos t l y a l l ag es . A EC w i l l

of f er i ts cus t omer s an at t r ac t i ve wat er e xp er i enc e f or f am i l i es an d

in d i v i du als . R at es r an g e f r om S $ 50 .0 t o S $ 25 0. 0 f or a n i g ht p ar t y

c ru is e. Mar ket i n g wi l l inc lu d e pr i n t ad ver t is i n g, ag gr ess i ve in t ern et

ads , t our ag en ts an d t hr ou g h h ot e ls .

S t a r t - u p C a p it a l E xp e n s e s :

D e s cr ip t io n Cos t , S $

S t u d ie s a n d P l a n n i n g 25 , 00 0

I n it ia l

R e n o v a t io n 50 , 00 0

F u r n i s h i n g s 25 , 00 0

O f f i ce e q u ip me n t 15 , 00 0

M a in t e n a n ce e q u ip me n t 25 , 00 0

P r e o p e n in g e x p e n s e s 12 5 ,0 0 0

T o t a l co s t


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S ec t i on T wo:

Bus i n ess d esc r i p t i on

2 . 1. D esc r i p t i on of th e b us i n ess

Acq u an et t a Cr u is e P t e Lt d . wi l l b e f or med as a Pr i vat e L i m i t ed

C omp an y i n S i n g ap or e. Acq u an et t a Cr u is e w i l l f oc u s on at t r ac t in g

th e t ou r is ts mai n l y c om in g t o S i ng ap or e f r om A s i an c ou nt r i es .

L oc at i on w i l l b e Mar i n a S out h P i er , S i n g ap or e.

Acq u an et t a C ru is e Pt e L td w i l l pr ovi d e c ons is t en c y, r e l i ab i l i t y ,

s af et y, ef f ic i enc y an d va l u e f or mon e y wh en d el i ver in g memor ab l e

e xp er i enc es . Ac qu an et t a Cr u is e h as an op p or t un i t y t o d is t i ng u ish

i ts e l f b y p r ovi d i ng s p ec i a l e xp er i enc es th at d e l i ver h i gh l eve l s of

s at is f ac t i on t o cus t om ers .

T h e b us i n ess wi l l of f er :

Par ty p a ck a ge , of f ers n ig ht 4 h ou rs c ru is e, wh ich inc l u d es :

in t ern at i on al b uf f e t , DJ on b o ar d, l i ve en t i t l emen t

Lu nc h p a ck ag e , i n t er n at i on al buf f et lu nc h, l i ve en t e r t a i n ment ,

DJ on b oar d

Din ne r p a ck a ge , d an c e f l ow, men u d i n er , mus ic an d 2 h ou rs

c ru is e

We dn e sd ay l u nc h , i n t er n at i on al b uf f et , 3 h ou rs c r u ise w i t h DJ

on b oar d , c omed y sh ow

Sun d ay Lu n ch J az z cr ui se , 3 h ou rs c r u is e, c ool s o un ds f r om

th e l i ve J azz B an d , l i ve en t er t a i n ment


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Pr iv a te p ar t ie s , h e l p or g an i ze p ar t y acc or d i n g t o t h e

cus t omers p r ef er enc es an d a vai l ab l e t i me, l i ve mus ic , DJ , l i ve

en t er t a i n men t

We dd in g ce l ebr at io n , l i ve en t er t a i n men t , D J , mus ic ,

or g an iz i ng c er emon y acc or d in g t o cus t omers pr ef er enc es an d

t r ad i t i ons

Cat er i n g wi l l i nc lu d e:

In t ern at i on al buf f et ( inc lu d in g veg et ar i an an d org an ic op t i on s )

B ever ag es

D es er ts an d p as t r i es

Men u of c us t omers ’ c h os e

2 . 1 . 2. S hi p d esc r ip t i on

Sh ip w i l l b e t h e mai n ass et o f t h e b us i n ess . T h e p ur p os e of

Acq u an et t a w i l l b e t o p r ovi d e s h or t d is t an c e t our s , p ar t y t ours ,

wed d i ng r ec ep t i on s , c or p or at e e ven t , t e am b u i l d i n g an d inc en t i ve

pr og r ams . B as ed on t h e ab o ve asp ec ts , t h e s earc h ar ou n d

ad ver t is emen ts was c on d uc t ed an d f i n a l d ec is i on was mad e. T h e

c omp an y w i l l p urch as e en t er t a i n ment c r u is er , t h e p ic t ur es i l l us t r a t ed

in F ig u re 1 . F ig ur e 2 s h ows t h e l ayou t of t h e c r u is er . A p pe n d ix 1

i l lus t r a t es p ers on al c or r esp on d en ts w i th t h e own er of t h e c ru is er

ab ou t sh ip d et a i ls ; Ap p en d ix 2 pr o vi d es f ur th er c r u is e r d esc r ip t i on .

Fig ur e 2 En ter ta in m en t cru i ser


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Source: personal correspondence with the owner via em ai l s



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F ig ur e 3 L ay ou t of th e cr ui se r




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2 . 2 . I n dus t r y b ac kgr ou n d

Cru is e i n dus t r y is j us t a smal l s eg men t of t h e vac at i on i nd us t r y,

wh ich is i ts e l f a s mal l p ar t of l e isu r e i nd us t r y. T h e c r u is e i n dus t r y is

f as t gr ow i n g i nd us t r y, b ef or e 1 81 8s oc ean - vess el wer e pr i mar y

c onc er n ed w i th c arg o r ath er t h an p ass en g ers . I n 18 18s B l ac k B al l

L i n e of f er ed r eg u l ar l y sc h ed ul ed s er v ic es t o t h e i r p as s en g ers . I n t h e

ear l y b eg i nn i ng of 19 9 0s c ru is e l i n es wer e a l r ead y pr o vi d i n g

d i f f er en t f ac i l i t i es an d i n t er n men t on b oar d, b u t t h is b ec ame n ot

en ou g h t o s at is f y c us t omers ’ n eed s . P eop l e wan t ed n ot jus t t r a vel

bu t a ls o t o e xp l or e f or e i gn c ou n t r i es an d cu l t ur es . I n 11 9 6 S i l ver s ea

in ven t ed n ew p r ogr ams wh ich wer e of f er i n g c us t om ers t o exp l or e

g eog r ap h y, c u l tu r e an d t r ad i t i on s of ot h er c oun t r i es . H owe ver , n ot

a l l p e op l e c ou l d af f ord t h os e t r i ps ; t h is f ac t h as c r e at ed a gr ow i n g

mar ket f or s mal l c r u is e l i n es as wel l as g ave op p or tu n i t i es f or th e

r i ver c ru is es . A pp e nd ix 3 i l l us t r a t es t h e d e vel op men t of c ru is e

in d us t r y i n th e wor l d .

Cur r en t l y , c r u is es b ec ame an at t r ac t i on r at h er t h an th e g eog r ap h ic

c ru is e d es t i n at i ons . B ot h s ea an d en t er t a i n ment c r u is e in d us t r i es

h as s een a s ig n i f ic ant gr owt h over t i me an d t h ey a r e exp ec t ed t o

gr ow f ur th er . T h e c ru is e mar ket is ch ar ac t er ized b y e xc el l en t va l u e

pr op os i t i on , w i d e ap p e al , h i gh r at e of g u es t s at is f ac t i on , an d

p os i t i ve su p pl y vs . d eman d b al anc e.

Si ng ap or e ’ c ru is e in d us t r y h as a f as t gr owt h an d a g r eat p ot en t i a l . In

20 0 6 S in g ap or e welc omed 35 ,4 4 8 c ru is e v is i t ors f r om Eu r op e. B y

20 1 5, S i n g ap or e p l ans t o i n ves t ar ou n d S $ 30 b i l l i on in t ou r is m i n

or d er t o ac hi e ve a 1 7 mi l l i on in v i s i t or ar r i va ls . I n 2 00 9 S i ng ap or e

mad e an ag r e emen t w i th C os t a C ru is es l i n es , wh ich d ou b l ed t h e

nu mb er of v is i t ors t o S i n g ap or e. S in g ap or e ’ en t er t a in men t c r u is es


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a ls o h ave a gr e at gr owt h d ur i ng t h e l as t ye ars , h ow e ver th is gr owt h

r ef ers t o l on g t r ip b y th e r i ver , wh i l e s eg men t wh ich r ep r es en ts s h or t

en t er t a i n men t r i ver an d s e a c r u is es an d c r u is e en t er t a i n men t s t i l l is

n ot f u l l y d e vel op ed an d h as a gr eat p ot en t i a l .

2 . 2 . 1 Maj or in d us t r y p l ayers

Cru is e i nd us t r y d om i n at ed b y t hr ee maj or c omp an i es n amel y

C ar n i va l , R oyal C ar ib b e an an d St ar Cr u is e, w h ic h con t r o l 3 5 % of

c ru is e sh ips a n d 6 8 % of be r t hs ( ) . F ig ur e 4 i l lus t r a t es maj or s ea an d

r i ver c r u is e p l ayers wor l d w id e an d in S in g ap or e.

Fig ur e 4 M aj or In d ust ry P la y er s

C o mp a n y n a me I n d u s t r y s e ct o r ( s e a ,

r iv e r )

D o mi n a t e d a r e a

C a r n iv a l S ea W or ld w id e , S i ng ap or e

R o y a l C a r ib b e a n S ea W or ld w id e

S t a r C r u i s e S ea W or ld w id e , S i ng ap or e

No r we g ia n C r u is e

L in e s

S ea W or ld w id e

V ik i n g R iv e r C r u is e s Ri ver Eur op e

C I E R iv e r C r u i s e s Ri ver Eur op e

2 . 2. 2 . S eg men t at i on of t h e i n dus t r y

G en er a l l y , c r u is e in d us t r y c an b e d i v i d ed i n t o s e a an d r i ver c r u is es .

B oth c an b e f ur t h er d i v i d ed i n t o f our s eg men ts b as ed on sp ec i f ic


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ch ar ac t er is t ic s th at d esc r i b e t h e on - b oar d l i f es t y l e an d over a l l

vac at i on exp er i enc e. F ig ur e 6 s h ows t h e mai n s e g ments of th e

in d us t r y.

Figure 6 Segmentation of the Cruise Industry

First class Mass market lines, resort-style vacations, destinations that are affordable to majority of travelers

Large ships, capacity 2000-3500 people, small cabins, 3-7 nights, key word- quantity

Premium class Mass market lines, resort-style vacations, destinations that are affordable to majority of travelers

Medium ships, capacity- 1500-2000 people, large cabins, key word- quality

Luxury class High level of quality, personalized service, opportunity to travel to exotic destinations

Small ships, capacity 300-800 people, huge cabins or suites, 5-6 stars services, key word- exclusivity

Specialty cruise Focus on a destination niche or special style of cruising, such as river cruising

Very small ships, capacity- 100-300 people, key word- adventure

2 . 3 . Miss i on

I t is n ot ab ou t t h e wa ves or t h e sp e ed of t h e sh ip ; i t i s n ot ab ou t t h e

s ou n d of t h e mus ic or en t er t a i n ment pr o vi d ed . I t is ab ou t t h e p e op l e!

An d i t is ab ou t t h e t ak i n g p e op l e t o t h e n e xt l e ve l of f u n an d

en t er t a i n men t .

Acq u an et t a C ru is e c or e t as k is b as ed on u n d ers t an d in g of t h e c or e

cus t omers an d p r ovi d e t h e h ig h es t l eve l of e ven t p l an n i n g . T h e

miss i on of Ac q u an et t a Cr u is e is t o c r eat e an en vi r o n ment t h at wi l l

s at is f y exp ec t at i ons of c us t omers an d t h e i r ch an g i ng t as t es . I n or d er

t o s at is f y t h is g oal , t h e c omp an y w i l l c on t i n u al l y d evel op r es p ons e t o

th e c us t omers ’ en t er t a i n ment n eeds .

Source: Adopted by an author from http://www.cruise4lovers.com/page/5046-

Cruise%20Line%20Market%20Segmentation

http://www.cruise4lovers.com/page/5046-Cruise%20Line%20Market%20Segmentation

http://www.cruise4lovers.com/page/5046-Cruise%20Line%20Market%20Segmentation


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2 . 4. K e ys t o s ucc ess

Fo cu s on at t ra ct in g t our is ts . T h e c omp an y w i l l f oc us on

d es i gn an d en t er t a i n men t t h at h ave mass ap p e al t o t our is t s

Ex c ept io na l se rv ic e. T h e c omp an y w i l l pr o vi d e h i gh q u al i t y

s er v ic e t h at l e aves i mp r ess i on an d keep c ons is t en t

en t er t a i n men t a t mosp h er e as wel l as c r eat e an d s us t a i n t h e

h i g h es t l eve l of c ons u mer s at is f ac t i on

Pe ne tra te t h e m ar ke t . T h e c omp an y w i l l of f er d i f f er en t

pr omot i on , make c ont r ac ts an d g ood r e l a t i ons wi th h ot e ls an d

t our op er at ors .

M anag in g f i na n ce s a n d c as h f l o w to su pp or t ca pi ta l gro wth .

T h e c omp an y w i l l ac h i eve c api t a l gr owt h t hr o ug h c as h

man ag em en t b y us in g b an k acc ou n t on l in e t o c l os el y mon i t or

t r ans ac t i on s an d f ees as wel l as n eg ot i a t e f or t h e b es t p oss i b l e

c on d i t i ons w i t h b an ks an d s up p l i ers . A dd i t i on al l y , t h e c omp an y

w i l l us e r es ourc e a l l oc at i on b y d e vel op i ng c ap i t a l b ud g et f or

l on g t er m . T h e c omp an y w i l l c h oos e c ap i t a l i n ves t me nts wh ich

ar e l i ke l y t o ear n th e h ig h es t r e tu rns i n t h e l on g t er m,

c ons id er i ng th e d isc oun t ed c ash f l ow an d oth er imp or t ant

f ac t ors .

Str i ct co ntr ol of a l l th e co st s. T h e c omp an y w i l l ass ur e

qu al i t y c on t r o l an d c us t omer s er v ic e wh i l e man a gi n g an d

c on t r o l l i n g c os ts . T h e f i xed an d var i ab l e c os t w i l l b e r ed uc ed

wh er e p oss i b l e t hr ou g h i n ven t or y r ed uc t i on , s ome s e r v ic es w i l l

b e s u bc ont r ac t ed , an d eq u i p ment wh ich w i l l b e n e ed ed

occ as i on al l y w i l l b e r en t ed , n ot p urch as ed . T h e t r a i n in g f or

p ers on n el w i l l b e pr ovi d ed i n t h e p r op er us e of eq u ip men t i n

or d er t o a voi d d am ag e an d t h e c os ts of r ep l ac emen t o r r ep ai r .

Con si d er e mp loy ee s a s an a s se t . I nc ent i ves wi l l b e pr o vi d ed

t o emp l o ye es , s a l ar y w i l l b e b as ed on pr od uc t i v i t y , s o


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emp l oye e w i l l f ee l mor e i n vo l ved as wel l as c omp an y g oal s wi l l

b e ac h i eved .

T ime ma n ag e me nt . T h e j ob of eac h empl o ye e wi l l b e an al yz ed

an d d ai l y p l an of ac t i ons w i l l b e d e vel op ed .

2 . 5. Ob j ec t i ves an d g oals

T o c r eat e a s er v ic e - b as ed c omp an y

T o d e vel op a s us t a i n ab l e, pr of i t ab l e s t ar t -u p b us i n ess

C api t a l i ze on exc el l en t s er v ic es an d c ap ac i t y s t ar t i n g f r om th e

f i r s t ye ar

Mai nt a i n t i g ht c os ts c on t r o l , c as h f l ow an d op er at i on s thr ou g h

au t omat ed c omp u t er c on t r o l

E xc eed S $1 mi l l i on i n an n u al b y t h e t h i rd ye ar of p l an

imp l em en t at i on

Achi e ve c us t omer aw ar en ess

G r ow h i gh hu man r es ourc e d e vel op men t an d t r a i n i n g

E xp an d s er v ic es i n 2 year s ’ t i me

D evel op su p pl i er r e l a t i ons hi ps

Impr o ve or g an izat i on s t r uc t ur e

2. 6. P ot en t i a l of t h e b us i n ess

T h e g en er a l gr owt h i n t h e c ru is e i nd us t r y as wel l as i n en t er t a i n men t

in d us t r y h as a d ec l i n e in 2 0 09 d u e t o ec on om y d own t ur n, h ow e ver i t

is r ec over in g gr ad u al l y an d e xp ec t ed t o p ic k u p ver y s oon ( ) .

T h e gr owt h of t h e Acq u an et t a b us in ess wi l l d ep en d on th e t ou r is ts ’

ar r i va l s as wel l as on c omp an y at t r ac t i ven ess . C ur r e nt l y , t ou r ism is

on e of t h e l arg es t s er v ic e s ec t ors in S i ng ap or e ( ) . S i n g ap or e ’

g over n men t c ont in u ous l y i n ves t i ng in t ou r ism in d us t r y, b y 2 01 5 i t is

p l an n ed t o t r ip l e t h e nu mb er of t ou r is ts . W i th t h e g r owt h of t ou r is m

in d us t r y th e n u mb er of p ot en t i a l c us t om ers f or t h e Ac qu an et t a

Cru is e Pt e L td w i l l a ls o g r ow. A d di t i on al ad va nt ag e f or th e


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Acq u an et t a g r owt h is l oc at i on . T h e vess el w i l l b e l oc at ed in Mar i n a

R es er voi r an d t h e t r i p wi l l s t ar ts f rom Mar i n a S ou t h P i er . Mar in a

R es er voi r is s t r a t eg ic a l l y l oc at ed t erm i n al , l oc at ed in S i n g ap or e ’s

f in anc i a l h u b, su r r ou n d ed b y l e is ur e an d en t er t a i n men t a t t r ac t i ons ,

wh ich g i ve a p ot en t i a l f or t h e c omp an y t o at t r ac t mor e t ou r is ts and

b y t h e f i r s t year u t i l i ze t h e f u l l c ap ac i t y of t h e sh ip .

B y t h e ye ar t wo Acq u an et t a C ru is e t ar g ets t o b e t h e n u mb er on e d a y

en t er t a i n men t c ru is er , b y mak i ng g ood r e l a t i ons wi t h h ot e ls whic h is

n ear th e Mar in a S ou t h P i er , as wel l as h ot e ls l oc at ed in S ent os a an d

in t h e c i t y . A dd i t i on al l y , c omp an y w i l l p ay at t en t i on o n t ou r ag enc i es

an d on l in e an d of f l in e ad ver t is emen ts . T h e c r u is e d es t in at i ons w i l l

b e inc r e as ed t o th e n e ar es t is l an ds , a ls o var i e t y o f p ac kag es an d

en t i t l em en t pr og r ams w i l l b e d evel op ed .

B y t h e ye ar th r ee c omp an y p l an n i ng t o c over a l l t h e i n i t i a l exp ens es

an d s t ar t t o s a ve mon e y f or f ur t h er exp an d i n g . Ad d i t i on al l y ,

Acq u an et t a w i l l s earc h f or op p or t un i t i es t o mak e i t bus i n ess mor e

en vi r on men t a l l y f r i en dl y.

2 . 7 . U ni q u en ess of th e s er v i c e

Acq u an et t a C ru is e r ep r es ents a u n iq u e op p or t un i t y f or n ew

e xp er i enc es on th e b o ar d of ent er t a i n men t c r u is er . T h e d e vel op men t ’

l oc at i on an d l ac k of d i r ec t c omp et i t ors ar e maj or ad van t ag es t o t h is

pr o j ec t . T h e c omp an y w i l l sp ec i a l i ze on on b oar d p ar t i es and

en t er t a i n men t w i t h l on g er h ou rs of op er at i on t h an c omp et i t ors .

S er v i c es w i l l f ocus on you n g t r avel ers as wel l a s on f ami l i es .

S er v i c es wh ic h d i f f er en t i a t e Ac qu an et t a Cr u is e f r om c omp et i t ors :

L i ve mus ic

En t er t a i n men t pr og r ams


13

C omed y s h ow

D anc e on b o ard

D es i g n of t h e s h i p

V ar i e t y of p ac kag es

Se ct i o n T hr e e:

M arket in g pl a n

3. 1. A n al yz i n g th e Mar ket

T h e d e vel op men t of Acq u an et t a w i l l d ep en d on n u mb er of t our is ts ’

ar r i va l s t o S i n g ap or e , o ver a l l en t er t a i n men t c r u is e ’ i nd us t r y g r owt h

in S in g ap or e as wel l as on Acq u an et t a ’ mar ket in g s t r a t eg y .

Acc or d i n g t o th e d at a f r om th e S in g ap or e A n nu al R ep or t on T our is m

St at is t ic s , i n ye ar 2 01 0 S i n g ap or e h as in ves t ed S $5 00 m i l l i on in t o

c ru is e an d f er r y t er m in als i n t h e S ou t h Mar i n a. B as e d on th e s ame


14

s t at is t ic s r ep or t , S in g ap or e r eg is t er ed a 17 . 6 p er c en t gr owt h of

v is i t or ar r i va ls i n J an u ar y 20 1 0. F ig u re 7 i l l us t r a t es th e v i s i t or

ar r i va l s t o S i ng ap or e f r om 20 0 9 t o 20 1 0. I n J an u ar y 20 1 0 t h e

nu mb er of t ou r is ts in S i ng ap or e r each ed 9 0 8, 0 00 , whic h 1 7. 6 1 p er

c en t mor e c omp ar i ng t o J an u ar y 2 00 9 .

F igu re 8 i l l us t r a t es t h at mai n c oun t r i es of ar r i va ls ar e In d on es i a,

Ch in a, A us t r a l i a , M al a ys i a an d In d i a; t h es e n u mb e rs w i l l f u r t h er

r ef l ec t th e t ar g et mar ket f or Acq u an et t a .

Figure 7 Visitor arrivals to Singapore

Figure 8 Visitor Arrivals by country, January 2010

772 690

791 779 726 750

882 845 799

845 830

972 908

0

200

400

600

800

1000

1200

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan

2009

Visitor arrrivals to Singapore, Jan 09 to jan 10

Source: Adopted by the author from Tourism Focus 2010 (ISSN 0219-4112) Singapore Tourism Board

2010

’000


15

Acc or d i n g t o A nn u al R ep or t on T our is m St at is t ic s i n 2 0 09 t our is ts

sp en d on s ig hts e ei n g and en t er t a i n men t S $1 6 0 m i l l i ons , whic h is

+4 3. 1 p er c ent as c omp ar e t o 2 0 0 8 .

3 . 2. T ar g et mar ket

Ap p en d ix 4 i l lus t r a t es q u es t i on n ai r e an d i ts d es i g n, whic h was mad e

in or d er t o an al yz e p ot en t i a l t ar g et mar ket of Ac qu an et t a . Acc or d in g

t o Ap p en d ix 4 , 2 1 0 qu es t i on n ai r es wer e d is t r i b ut ed , f r om whic h 17 0

wer e f i l l ed. Ap p en d ix 5 sh ows an al ys is of d at a f r om t h e

qu es t i on n ai r e. B as ed on t h e t ou r is ts ’ s t a t is t ic s and qu es t i on n ai r e t h e

mar ket s eg men t f or Acq u an et t a is t h e f o l l ow i ng :

Mar ket s eg men ts :

Geo gr a p h ic : P ot en t i a l cus t omers ar e v is i t ors f r om As i an c ou n t r i es as

wel l as f r om A us t r a l i a , U S an d UK. T h er e l oc at i on i n S i ng ap or e ma y

0

20

40

60

80

100

120

140

160

180 174

99 90

68 57

45 39 38 36 33

25 19 19 18 16

Visitor Arrivals by country, January 2010

Source: Adopted by an author from Tourism Focus 2010 (ISSN 0219-4112), Singapore Tourism Board


16

b e d i vers e, h ow e ver i n i t i a l l y Ac qu an et t a wi l l th e make acc en t on

t ar g et in g t h os e wh os e l oc at i on n e ar t o Mar i n a P i er .

De mog ra p h ic :

F igu re 9 i l l us t r a t es d em og r ap hic ch ar ac t er is t ic s of p ot en t i a l

cus t omers ; F ig ur e1 0 out l in es th e t o t a l mar ket p ot en t i a l f or

Acq u an et t a ’ c r us e.

Fig ur e 9 De m ogr a phi c pr of i l es o f p ot en t i al c on s u m er s

A g e S e n i o r s , B a b y - b o o m e r s , yo u n g m a r r i e d c o u p l e s , f a m i l i e s w i t h k i d s a r o u n d 6 - 1 5 ye a r s o l d , a n d s i n g l e s o f a l l a g e s

G e n d e r B o t h s e xe s w i l l b e t a r g e t e d w i t h a s l i g h t l y s k ew f o r f e m a l e s

M a t e r i a l s t a t u s Yo u n g f a m i l i e s w i l l b e t a r g e t e d f o r t h e w h o l e p a c k a g e s

M a t u r e f a m i l i e s f o r t h e d a y t i m e c r u i s e s

S i n g l e s f em a l e , a g e c a t e g o r y 1 8 - 3 5 f o r a l l p a c k a g e s

S i n g l e m a l e a l l a g e c a t e g o r y m a i n l y f o r t h e e ve n i n g a n d n i g h t p a c k a g e s

G e n d e r M a r k e t a c t i v i t i e s w i l l b e m o s t l y f o c u s o n f em a l e s , w h o s e p r e f e r e n c e s w i l l f u r t h e r i n f l u e n c e f a m i l y d e c i s i o n , a s w e l l a s a t t r a c t s i n g l e m a l e

I n c o m e M a r k e t i n g a c t i v i t i e s w i l l a p p e a r t o t h e m i d d l e i n c om e a n d t h os e s l i g h t l y a b o ve m i d d l e i n c om e b r a c k e t

O c c u p a t i o n W h i t e - c o l l a r w o r k e r s , yo u n g p r o f e s s i o n a l s , h o u s e w i ve s , s t u d e n t s

E d u c a t i o n H i g h s c h o o l g r a d u a t e s , U n i ve r s i t y d e g r e e

Source: this study


17

Fig ur e 1 0 Tot a l ma rk et p ot ent i al

Acq u an et t a ’ mar ket ac t i v i t i es wi l l b e f oc us ed on r each i ng t ou r is ts

c om i ng f r om As i an c ou n t r i es ag e c at eg or y 1 8 t o 35 an d t h os e wh o

c ome f r om Eu r op ean c ou n t r i es , A us t r a l i a an d U S ag e c at eg or y 36 t o

45 . Mar ket r es earc h h as sh own th at th es e ar e t h e c us t omer gr ou ps

th at ar e mor e l i ke l y t o us e c r u is e en t er t a i n men t s er v i c es . C omp an y

c ons u mp t i on mos t l y d ep en ds on ed uc at i on l eve l a nd occ u p at i on ,

b ec aus e t h es e f ac t ors r ef l ec t i nc ome c at eg or i es an d l i f e s t y l e .

3 . 3 . Market s i ze

Acq u an et t a h a ve a g r eat ch anc e t o b e th e f i r s t c r u is e r i n S i ng ap or e,

pr ovi d i n g ent er t a i n men t , d isc o an d b uf f e t a t onc e on t h e b oar d at

af f ord ab l e pr ic es . T h e i d ea of ent er t a i n ment c r u is er h as pr o ven t o b e

a w in n in g c onc ep t i n o t h er mar kets , s uc h as i n T h ai l an d, V i et n am,

B al i , U S, Eu r op e an d Russ i a. T h e mai n c us t omers w i l l b e t ou r is t s .

Si ng ap or e ’ s t op v is i t or - g en er at i n g mar kets i n 20 1 0 i l lus t r a t ed i n

F i gu r e 11 . T h es e f i ve c ou nt i es r ep r es en t 5 1 % of t o t a l v is i t ors .

25%

20%

10%

45%

Potencial customers

Young families Groups of young people Mature families Singles

Source: created by an author


18

Fig ur e 1 1 To p vi si tor - g e ne ra t in g m ar ke ts

C o u n t r y o f

a r r i v a l s

S t a t i s t i c s

Popu l at i on f o r

2010

Est im at ed r es id ent

pop u l at i on f or 20 11

Est im at ed num ber o f

t rav el er s t o

S ingap or e

M a l a y s ia 28,274,729 28,728,607 77 , 000

I n d o n e s i a 242,968,342 245,613,043 163,000

C h i n a 1,348,101,350 1,400,000,000 92,000

I n d ia 1,184,090,490 1,200,000,000 73,000

A u s t r a l i a 22,403,692 22,578,343 70,000

3. 4. Sh ar e of t h e Mar ket

Acq u an et t a c r u is e mai n g o al is t o c r eat e s us t a i n ab l e, pr of i t ab l e

s t ar t - up b us i n ess an d exp an d s er v ic es in 2 year s t i me t h es e c an b e

d on e v i a q u an t i t y of p a yi n g c l i en ts whic h c omp a n y p l an n i ng t o

at t r ac t .

F i gu r e 1 2 s h ows c us t om ers p ot ent i a l gr owt h es t i mat ed b as ed on

sur ve y c on d uc t ed us i ng mos t p ess i m is t ic s t a t is t i c s . F i g ur e 13

pr es en ts d at a b as ed on mor e op t i mis t ic n u mb ers . T h e f u r t h er d at a

an d s a l es p r ed ic t i on w i l l b e d on e b as ed on p ess i m is t i c pr ed ic t i ons .

Figure 12 Customers potential growth (Pessimistic view)

Potential customers Growth Year1 Year 2 Year 3 Year 4 Year 5

Party package 5% 14,600 15,330 16,097 16,901 17,746

Lunch package 2% 6,000 6,120 6,242 6,367 6,495

Dinner Package 2% 3,650 3,723 3,797 3,873 3,950

Wednesday Lunch package 3% 12 12 12 13 13

Sunday Lunch Jazz cruise 3% 7,300 7,519 7,744 7,977 8,216

Private parties 3% 10 10 13 13 14

Wedding celebrations 2% 12 12 12 13 13

Total 2.29% 31,574 32,726 33,917 35,157 36,447

Source: adopted from http://geography.about.com/od/obtainpopulationdata/a/indiapopulation.htm ;

http://www.prb.org/pdf07/futurepopulationofindia.pdf; http://www.geohive.com/;

http://www.app.com.pk/en_/index.php?option=com_content&task=view&id=108179&Itemid=2

http://www.singstat.gov.sg/pubn/reference/sif2010.pdf

Source: created by an author using data from the current study

http://geography.about.com/od/obtainpopulationdata/a/indiapopulation.htm

http://www.prb.org/pdf07/futurepopulationofindia.pdf

http://www.geohive.com/

http://www.app.com.pk/en_/index.php?option=com_content&task=view&id=108179&Itemid=2

http://www.singstat.gov.sg/pubn/reference/sif2010.pdf


19

Figure 13 Customers potential growth (Optimistic view)

Potential customers Growth Year1 Year 2 Year 3 Year 4 Year 5

Party package* 5% 25,550 26,827 28,169 29,577 31,056

Lunch package** 5% 18,250 19,162 20,120 21,126 22,182

Dinner Package* 5% 25,550 26,827 28,169 29,577 31,056

Wednesday Lunch package** 5% 18,250 19,162 20,120 21,126 22,182

Sunday Lunch Jazz cruise* 5% 25,550 26,827 28,169 29,577 31,056

Private parties 5% 120 126 132 139 146

Wedding celebrations 5% 60 63 66 69 73

Total 5% 113,330 118,996 124,946 131,193 137,753

*Calculations made using 70% of cruiser capacity for evening time and weekends

** Calculations made using 50 % of ship capacity

3 . 5 . S i t u at i on al an al ys is an d t r en ds

Ad ven tu r e c ru is e mar ket is p o i s ed f or gr owt h . O n e of th e r e as on s f or

th is gr owt h is inc r eas i n g ap p r ec i at i on f or s h or t t ours an d

en t er t a i n men t . T h e p op u l ar i t y of t h e c r u is e l e is ur e s ec t or w i l l d ep en d

on n u mb er of ar r i v i n g t ou r is ts , th e i r l i f e s t y l e , ec on omic h eal t h i n

Si ng ap or e as wel l as ec on omic h e al th of v is i t ors ’ c ou nt r i es . In or d er

f or c omp an i es t o at t r ac t p ot en t i a l c us t omers on b oa r of t h e i r sh ip ,

man ag em en t s h ou ld f o l l ow n ew t r en ds i n t h e i n dus t r y. T h e c ur r en t

s i t u at i on i n t h e i n dus t r y is a l r e ad y c h an g in g b y a n i n f l u enc e of

t r en ds : th e p ass en g ers ar e g et t in g you n g er , sh i ps smal l er ,

d es t i n at i ons b ec om i n g mor e u nus u al . C ur r ent l y maj or i t y of b i g

c ru is e s h ips ar e r ep l ac ed b y s mal l sh ips an d ya chts , a ls o t h e

d es t i n at i ons var y f r om d omes t ic r i vers t r i ps t o p l ac es l i ke A nt arc t ic a.

Acc or d i n g t o A w K ah P en g ( 2 01 0) , n ew t r en ds c o mi n g in d in in g

e xp er i enc es on b oar d , such as ‘F r ees t y l e C ru is i n g ’ , wh er e c us t omers

d o n ot r eq u i r e dr ess c od e an d n o s t r ic t s er v i n g sc h ed ul es , s ome

c omp an i es e ven of f er c o ok i ng s ch o ol c ru is es ( ) .

Source: created by an author using data from the current study


20

* Hard adventure involves some kind of extreme and often dangerous activities, such as rock climbing, surfing, spelunking and scuba diving * Soft adventure refers to leisurely adventure

En t er t a i n men t c ru is e s h i ps ar e smal l er vers i on of c ru is e s h i ps ,

l i m i t ed i n n u mb er of on b oar d f u t ur es an d amen i t i es . H owe ver , in t wo

l as t ye ar en t er t a i n men t c ru is es an d d a y t r ips h ave a maj or

e xp ans i on b o om. P op u l ar t r en ds in ent er t a i n ment c ru is e ar e

ac t i v i t i es , ad ven t ur e an d t h e b i g g es t t r en d is t h e c ont in u ed e vol ut i on

in s h i p d es i g n , s uch as s w i mmi n g p ool on b oar d of d ay ent er t a i n men t

c ru is er . Mor eo ver , c ur r en t l y maj or i t y of en t er t a i n me nt c r u is es h ave

l an d- t ou rs an d on b o ar d ent er t a i n men t . A n ot h er t r en d t o c ons i d er is

f u el su pp l emen ts . D ur in g l as t 2 ye ars th er e wer e a l o t of n ew

p ol ic i es d u e t o t h e i nc r e as e in o i l pr ic es , whic h l e a d ed t o dr op i n

sup p l emen ts f or c r u is es . Mor eo ver , t h e b ook i n g p at t er n sh ou l d b e

c ons id er ed , suc h as b ook i n g on l i n e an d j us t a t t h e l as t momen t . T h e

imp or t ant t r en d i n th e i n dus t r y is ‘g o i n g Gr een ’ ; b y t ak i n g an

ad van t ag es of n ew t ech n ol og y vess els b ec om i n g en vi r on men t a l l y -

f r i end l y, c omp an i es us e ad van c ed was t ewat er p ur i f ic at i on , a i r

em iss i on r ed uc t i on , L ED l ig ht i ng , s o l ar p ow er , e n erg y ef f ic i en t

w i nd ows , wat er p o l lu t i on ed uc at i on pr og r ams an d man y ot h er

en vi r on men t a l l y - f r i en d l y i n i t i a t i ves .

Mar ket n eed s

Acq u an et t a w i l l pr o vi d e c us t omers w i th en t er t a i n ment t r ips f or t h e

c l i en t w i t h a ver ag e an d ab o ve

a ver ag e i nc omes . I n i t i a l l y

en t er t a i n men t w i l l b e pr o vi d ed on l y

on b oar d ; f ur th er c omp an y w i l l

e xp an d t o t h e wat er an d l an d

en t er t a i n men t , s uch as d i v i ng an d

h ard * an d s of t * ad ven t ur e t r i ps f or t h e we al th y c l i ent s . Acq u an et t a

w i l l s e ek f or an y op p or t un i t i es i n or d er t o s at is f y c us t omers ’ n e eds .

Se le ct io n: a w i d e s e l ec t i on of on b o ar d ac t i v i t i es a s wel l as w i d e

var i e t y o f h ar d an d s of t ad ven t ur e t r i ps


21

Ac ce s si bi l i ty : t h e cus t omer c an l oc at e an ywh er e a s l on g as th e y

c an r eac h S i n g ap or e ( f ur t h er t h e t r ansp or t at i on t o t h e s h i p l oc at i on

w i l l b e pr o vi d ed )

Cus to m er at te nt i o n: i mp r ess i ve p ers on al a t t en t i o n an d over a l l

cus t omer s at is f ac t i on on t h e h i g h l eve l

Co mp et i t iv e p r i ce s: t h e pr ic es f or Ac qu an et t a w i l l b e h i gh er t h an

f or l oc a l r i ver c ru is es an d d ay s ea t r ips , du e t o mor e var i e t y o f

s er v ic es , bu t ch e ap er t h an c h ar t er yach ts ’ pr ic es , wh ich t arg et on l y

we al th y n ich e .

Mar ket pr ed ic t i on f or n e ar es t f u t ur e

S i ng ap or e T our ism B o ar d ch i ef exec ut i ve ( 20 1 0) p op u l ar i t y of c ru is e

s ec t or is c on t i n u i n g t o g r ow i n t h e r eg i on . F r om 20 0 9 t o 20 1 5

S i ng ap or e e xp ec t t o i nc r e as e t ou r is t ar r i va l of ar oun d 1 0 .1 8 p er

c en t . B y 2 0 15 S in g ap or e p l an n in g t o t r ip l e t our is m r ec ei p ts an d

d ou bl e v is i t or ar r i va ls ( S i n g ap or e T our ism B oar d , 20 0 9) . I n f i ve

years t i me S i ng ap or e p l an ni n g t o b e a d es t in at i on o f ch oic e an d a

p ower f u l t ou r is m hu b (S in g ap or e T our is m B o ar d , 2 0 10 ) . T h e

imp or t ant s ou rc es of t our is m f or S i ng ap or e ar e Mal a ys i a, I nd on es i a,

In d i a an d C hi n a. T h e inc r e as i n g d is p os al i nc ome i n t h os e c ou n t r i es

w i l l g i ve op p or t u n i t y f or f ur th er d evel op men t of t ou r i sm i nd us t r y as

wel l as f or en t er t a i n men t an d c ru is e i nd us t r i es . A l l t h es e c ou nt r i es

ar e d e vel op i ng ver y f as t . I n 2 0 09 Ch i n a’s ec on om y e xp an d ed b y 6 .1

p er c ent an d d is p os al i nc ome r os e 10 .2 p er c ent t o 4, 8 34 Yu an f or

th e u rb an r es i d en ts and b y 8. 6 p er c en t f or r ur a l (C hi n a d ai l y , 20 0 9) .

In In d on es i a d is p os al i nc ome h as gr own b y 7. 3 6 p er c en t t o 3 5 2, 7 85

(US d ol l ars ) , 72 i n 2 0 10 . A t t h e s ame t i me d is p os al i nc ome i n In d i a

h as r os e b y 9 .4 p er c ent an d i n Mal a ys i a b y 5. 8 0 p er c en t

(Eu r omon i t or I n t er n at i on al , 2 0 1 0) . A l l c ou nt r i es a ls o exp ec t in g a

ver y g ood g r owt h f or t h e f u t ur e, f or examp l e Mal a ys i an g over n men t


22

p l an s t o s p en t US $6 5 b i l l i on f or d e vel op men t an d in c r eas e aver ag e

inc ome r at e of 6 p er c en t p er an n u m o ver n ext f i ve years ( As i a

P ac i f ic N ews , 2 0 10 ) .

C omp et i t or an al ys is

C omp an y wi l l c ons i d er t h os e wh o op er at e f r om th e s ame p or t as a

c omp et i t or . F ig u re 2 9 p r ovi d es d esc r i p t i on of t h e c omp et i t ors .

Ap p en d ix 5 g i ves d esc r ip t i on of th e c omp an i es wh o pr ovi d e s im i l ar

s er v ic es i n o th er ar eas . D i r ec t c omp et i t ors w i l l b e W ater t ou rs Pr e

Lt d and S i ng ap or e Is l an d Cr u is e d u e t o th e s ame pr ic e c at eg or i es .

O th er c omp an i es ar e n ot c on s i d er ed as c omp et i t ors b ec au s e th e y

t ar g et d i f f er en t c us t omers , s ec on d ar e mor e c onc en t r at e on n ic h e

mar ket an d weal t h y t r avel ers , wh i l e Ac q u an et t a t ar g et wi l l b e

t r avel ers w i t h a ver ag e inc om e an ab o ve aver ag e.

Figure 29 Competitors’ description

Company name Type of competition Services Price

Water tours Pre Ltd (Appendix6)

Direct competi tor Morning Glory (tea, coffee, 2,15h)

Dragon (2.15 h) Afternoon cruise with

high tea Imperial Dinner (buffet,

2.2h)

Adult S$27 Child S$14 Adult S$27 Child S$14 Adult S$32 Child S$16 Adult S$55 Child S$29

Singapore Island Cruise (Appendix7)

Direct competi tor Daily ferry transport services to Kusu and St John’s Island

Adult S$15 Child S$12

Aqua Voyage (Appendix8)

In direct Escapade Coastal Cruising Liberty Day Starlight Voyage All sea tours, all

include unlimited servings of non-alcoholic beverages and light snacks onboard

10am-10pm S$2,600 1pm-5pm S$3,300 10am-6pm- S$4,600 11pm to 9am S$-5,100

HARBOUR QUEEN Cruise Ship

In direct 3 hour cruise per group S$9,000

Super Yacht Long Ranger

In direct Morning trip Afternoon trip Evening trip Full day Dockside Overnight charters

S$ 3,000 S$ 4,350 S$ 4,150 S$ 5, 350 S$ 3,050 S$ 6,050

Source: Aqua Voyage http://www.aquavoyage.com/sunseeker-r.html; HARBOUR QUEEN Cruise Ship http://www.super-yacht-charter.com/yacht_details.php?pid=3122; Super Yacht Long Ranger http://www.yachtlongranger.com/charter-fees.html

http://www.aquavoyage.com/sunseeker-r.html

http://www.super-yacht-charter.com/yacht_details.php?pid=3122

http://www.yachtlongranger.com/charter-fees.html


23

3 . 6. SW OT An al ys es f or Acq u an et t a

F i gu r e 1 4 i l l us t r a t es th e ke y s t r en g t h an d we akn es s es wi t h i n t h e

Acq u an et t a an d d esc r i b es op p or t u n i t i es an d t hr e ats .

Fig ur e 1 3 SWO T A n al ys i s

Strengths Weaknesses

Excellent, highly trained staff Unique services Well designed ship Support from government (tax

incentives for new entry) Well established tourism Country awareness

A challenge to find employees who lacking of customer-centric attitude

A struggle to continuously offer new and exciting trips

Maintaining the level of quality Increasing expenses

Opportunities Threats

Growing market The ability to spread fixed

management overhead costs oven an increasing number of offered trips

Create good relationship with suppliers

Find good entertainment team Find an excellent chef Favorable demographic trends Improved passenger traffic Technology opportunities Tax law becomes more liberal Increased disposable income

A downturn in economy will affect the travel industry

The entrance of new rivals Weather conditions Rise in fuel prices Increase in port cost Pollution becoming an increasing

issue Fewer married couples Increased inspection on cruise

industry Government looking to increase

taxes on cruises Industry expansion (capacity

increasing faster than demand) Dependence on travel agents

Ad di t i on al u n d ers t an d in g of th e en vi r on men t i n wh ich Acq u an et t a w i l l

op er at e c an b e s een i n Ap p e nd ix8 , wh ich pr o vi d es mar ket

en vi r on men t sc an ni n g th r ou gh P or t er ’s f i ve f orc es an al ys is an d

thr ou g h PE ST EL an al ys is .

Source: created by an author


24

3.7. Marketing strategy

3. 7. 1. P os i t i on i n g

Acq u an et t a w i l l p os i t i on i ts e l f as r e l i ab l e , en vi r on me nt a l l y f r i en dl y,

f un c ru is e s er v ic e at af f or d ab l e r a t es ap pr opr i a t e f or in d i v i d u als as

wel l as f or f ami l i es . Ac qu an et t a w i l l ac h i e ve t h e t a rg et ed p os i t i on

thr ou g h c omp et i t i ve ed g e b y ac h i evi n g h i gh cus t omer s at is f ac t i on ,

ad ver t is emen t t hr ou g h ‘ wor d of mou t h ’ an d r et ur n i ng cus t om ers .

En vi r on men t a l is s u es wi l l b e ac h i eved t hr ou g h:

C l ean es t b ur n i n g w i l l b e s e l ec t ed

C ru is er h as f ou r -s t r ok e mot ors wh ich is mor e f u e l e f f ic i en t an d

c aus e l ess p ol lu t i on ( wh ich c an b e us ed f or ad ver t i s emen t as

wel l )

Su p p or t of c ommu ni t i es

Emp l oym en t of l oc a l s t af f

O ld s t af f w i l l b e d on at e

S ome c ol l ab or at i ve of f ers wi t h ot h er l oc a l t ou r ism b us in ess wi l l

b e es t ab l is h ed i n or d er t o enc ou r ag e g u es ts t o p urc h as e l oc al

pr od uc ts

In d uc t i on s , c ommu n ic at i on an d t r a i n i ng w i l l b e pr ovi d e d

V olu nt e er in g w i l l b e pr om ot ed , s uch as mar i n e c ons er vat i on

wor k

W as te man ag em en t w i l l b e p ar t of mai n s t r a t eg y

3. 7. 2 . Pr od uc t

T our is m is a pr od uc t i ts e l f . T h e c or e pr od uc ts of t h e c o mp an y ar e an

en t er t a i n men t t ou r b y i ts e l f an d su p p or t ed ent er t a i n men t . T h e b as ic

pr od uc t w i l l b e t ic ket i ng an d pr od uc t c ont en ts w i l l b e wat er , n at ur e,

p eop l e, s i t es an d cu l t ur e. Cus t omer f r i en d l in ess an d g ood f ood w i l l

b e e xp ec t ed pr od uc ts . T h e au g men t ed pr od uc t , t h at meets t h e


25

cus t omers d es i r es b e yon d e xp ec t at i on s wi l l b e pr omp t s er v i c es ,

c omf or t ab l e an d i n t er es t in g t ou r , sp ec t acu l ar s i gh t s , mus ic , an d

op er at i ng h ou rs . P ot en t i a l pr od uc t , wh ich r ef ers t o t h e p oss ib l e

e vol u t i on t o d is t i n gu ish t h e of f er , w i l l b e t o t a l l y c us t om i zed t ou r

p ac kag es w i th h i gh l e ve l s t an d ar d.

3 . 7 . 3 . Pr ic i n g

Pr ic in g w i l l r ef l ec t mar ket p os i t i on i n g and qu al i t y ; h ow ever

Acq u an et t a w i l l of f er e xc el l en t va l u e f or mon e y. G en er a l l y ,

Acq u an et t a ’ p r ic e w i l l b e l ower t h an p r ic e mar ket pr ice f or t h e s am e

s er v ic es . Pr ic e wi l l b e b as ed on exp ens es n eed ed t o c over f i xed an d

var i ab l e c os ts p l us 1 0% of mar k up p l us c ove r ag e of in i t i a l

in ves t men ts .

3 . 7 . 4 P l ac e

Mai n s a l es ac t i v i t i es w i l l t ake p l ac e t hr ou g h t our ag e nts an d h ot e l s .

Mai n l y a l l s a l es ac t i v i t i es wi l l h ave d i r ec t c on t ac t n at u r e. A ls o

p ac kag es w i l l b e a vai l ab l e thr ou g h t h e I n t er n et .

D is t r ib u t io n

Dis t r i bu t i on w i l l occ urs wh er e i t r eq ui r ed b y c us t om er s .

Pr i mar y d is t r ib u t i on f r om Ac qu an et t a t o t ou r ag en t t o c ons u mer

Acq u an et t a t o H ot e l t o c ons u mer

Acq u an et t a t o c ons u mer

3. 7. 5. Pr om ot i on

Acq u an et t a w i l l us e var i e t y o f mar ket i n g t ac t ic s t o i nc r eas e c us t om er

aw ar en ess . S al es s t r a t eg y w i l l c onc en t r at e on c r e at in g mass ag e t h at

c ru is in g wi t h Ac q u an et t a is f un , e xp er i enc e, ad ven tu r e an d h i g h

qu al i t y s t an d ar ds .


26

Pr e op en in g mar ket in g bu d g et w i l l b e ar ou n d S$ 8 0, 0 00 . F ur th er ,

c omp an y w i l l s p en d 1 % of gr oss pr of i t on ad ver t is i n g an d mar ket i n g.

Ad di t i on al l y s ur ve y c ards w i l l b e d is t r i b ut ed occ as i on al l y i n or d er t o

e val u at e t h e qu al i t y of s er v i c es pr o vi d ed .

Adv er t is in g - Pr in t

Br oc h ur es w i l l b e d on e in t wo c o l ors : s ea c o l or an d wh i t e w i th

c l ear d esc r i p t i on of pr o vi d ed s er v ic es , p r ic es an d o n e p ic t ur e

of th e c r u is er ( f or t h e l ess c os t o f ad ver t is emen t ) . F ur t h er

br oc h ur es w i l l b e mod i f i ed .

Br oc h ur es w i l l b e p l ac ed in h ot e ls , whic h c an of f er A cqu an et t a ’

s er v ic es an d sh ow br oc hu r es t o th e i r c l i en ts .

T our ag en ts

Sp ec i a l n ic h e mag az i n es an d N ews p ap ers whic h ar e d is t r ib ut ed

in a i r l i n es

Pu b l ic R e la t io ns

Sur ve y c ards w i l l b e d is t r i b ut ed on t h e b oar d of t h e sh i p t o c o l l ec t

th e f o l l ow i ng d at a:

Qu al i t y of t h e f ood an d s er v i c e

D emog r ap hic i n f or mat i on t o t arg et mar ket i n g ef f or ts

T o f in d ou t f ur th er i mpr o vem en ts

W eb Pr ese nc e

N ews l et t ers

C omp an y W eb s i t e c r eat i on w i t h e ven t d esc r i p t i on

Ad ver t is emen t on t ou r is ts f or u ms

Marke t in g Sa les P acka g es

Bus T our P ac kag es – T r ans f er f r om h ot e l t o Mar i n a S out h P i er

an d t ic kets f or t h e c ru is e t ou r


27

W eddi n g p ac kag es i n c on j unc t i on w i t h t h e H ot e l & S p a R es or t

D ay t ours i n c on j unc t i on w i t h c i t y t ou r ( th r ou g h t ou r a g enc y)

Sp ec ia l Ev e nts

Pr i vat e c h ar t er in g

3 . 7. 6 . P e op l e

Acq u an et t a w i l l p ay at t ent i on on emp l oye e t r a i n i n g i n or d er t o br i ng

h i g h q u al i t y s er v ic e t o i ts c us t omers an d a ls o w i l l c r e at e h ig h va l u es

an d c u l t ur e of or g an i zat i on . C omp an y w i l l h i r e q u al i f i ed emp l oyees

an d c r eat e p r ogr ams t o r e t a i n t h e b es t emp l oye es .

3 . 7. 7. Pr oc ess

Pr oc ess es an d p r ac t ic es w i l l b e a p ar t of Ac qu an et t a qu al i t y s ys t em.

Pr oc ess es an d wa ys of wor k i ng w i l l b e c on t i n u ous l y r e v i ew ed t o

mai nt a i n a ver y h ig h l eve l of s er v ic e an d t o ens u r e t h e smo ot h

ru nn i ng of a l l op er at i ons .

3 . 7 . 8. P h ys ic a l ev i d en c e

T his is add i t i on al me as ur i ng t h e i n t an g i b i l i t y of Ac q u an et t a s er v i c es .

Onb o ar d emp l oye es w i l l h a ve s t an d ar d i zed u n i f or m, wh ich w i l l mak e

s t af f l ook pr of ess i on al as wel l as w i l l pr o vi d e t h em id en t i t y . Sh i p

l ayou t is ver y c on ven i en t f or c us t omers t o or i en t an d t o move.

L i g ht en i ng l a you t an d d ec or at i ons a ls o a p ar t of c r eat i on r ig ht

a t mosp h er e f or t h e c us t omer .

EMENT OF BILGE WATER WASTE


28

Se ct i o n F o ur :

Oper at io n s

4. L oc at i on Id en t i f ic at i on

4. 1. A d van t ag es of th e l oc at i on

S i ng ap or e h as on e of t h e l ead i n g ec on omi es i n th e wor ld . In 2 0 10

S i ng ap or e w as r an ked nu mb er on e f or d o i n g bus in ess amon g a l l

c ou nt r i es (E xp l or e Ec on omi es , 20 1 0) . G eog r ap h ic l oc at i on is a

qu al i t a t i ve f ac t or as S in g ap or e l oc at ed c l os e t o Mal a ys i a an d

In d on es i a. An ot h er ad van t ag e is d i r ec t b us i n ess l oc at i on .

Acq u an et t a wi l l b e l oc at e i n Mar in a S out h P i er P or t , wh ic h is

s t r a t eg ic a l l y l oc at ed t er m in al , p l ac ed i n S in g ap or e ’s f in anc i a l hu b,

sur r ou n d ed b y l e isu r e an d ent er t a i n ment a t t r ac t i ons , such as

S i ng ap or e F l yer , S up er b owl G ol f an d C ou nt r y C lu b, S ec on d

S i ng ap or e B ot an ic G ar d ens . I n th e d is t anc e of ar ou n d 1 - 2 k i l omet ers

th er e ar e 9 h ot e ls , S in g ap or e s ky P ar k , Mar i n a B ar r ag e V is i t or

C ent er , 2 Sq u ar es an d 4 S h op pi n g c en t ers , 5 mus eu ms , whic h g i ve

op p or t u n i t y t o at t r ac t mor e t ou r is ts .

4 . 2 . Z on i n g

T h e l oc at i on of t h e s h ip an d t h e s t ar ts of c r u is es w i l l b e i n Mar in a

S out h P i er , wh ich is i n Mar i n a S out h , S i ng ap or e ( F ig ur e1 4 ) . T h is is

ver y ad van t ag eou s l oc at i on , as i t was d esc r ib ed pr e vi ou s l y Mar i n a

R es er voi r is s t r a t eg ic a l l y l oc at ed t er m i n al , wh ich sur r ou n d ed b y

t our is t ’s zon es . T h e t ou r ’ zon i ng w i l l inc l ud e d ep ar t u r e f r om Mar in a

S out h P i er , v i ew of S in g ap or e F l yer , S en t os a C ove, T anj on g P ag ar

f rom t h e s ea, an d f ur t h er K usu Is l an d .


29

F i gu re 1 4 M ar in a So ut h P i er

4 . 3 . T axes

Acq u an et t a w i l l b e r eg is t er ed u nd er G ood s an d S er v ic es T ax, whic h

is 20 1 0 7 % an d t h is w i l l b e c o l l ec t ed f r om t h e c us t om ers an d p ai d t o

t ax au t h or i t i es . A ls o inc om e t a x w i l l b e p ai d b as ed on exemp t i on s

f or n ew l y s t ar t - u p c omp an i es in S in g ap or e, wh ich ar e i l lus t r a t ed i n

F igu re 1 5 . A ls o c omp an y w i l l b e p ai d ot h er r e l a t ed t o b us i n ess t a xes

l i ke s t amp an d es t at e du t i es an d t h e f or e i g n wor ker l e vy.

Fig ur e 1 5 Tax Exemptions for Newly Start-up Companies in Singapore

Source: http://www.streetdirectory.com/asia_travel/travel/travel_id_29493/travel_site_4/

Source: Singapore Corporate Tax http://www.rikvin.com/taxation/singapore-corporate-tax-rates/

http://www.streetdirectory.com/asia_travel/travel/travel_id_29493/travel_site_4/

http://www.rikvin.com/taxation/singapore-corporate-tax-rates/


30

4 . 4 . Pr o xi m i t y t o s up p l i ers

Acq u an et t a r eq u i r es sup p l i ers f or f ood , n on a lc oh ol an d a lc oh ol

b ever ag es an d a ls o Ac qu an et t a w i l l ou ts ou rc e en t er t a in men t t eam.

A ls o s p ec i a l l ig ht en i n g an d ef f ec ts l i ke sn ow a n d s moke mach i n e,

bu b bl e mac h in e, s l as h er , r o t o s ph er e an d mi r r or b a l l w i l l b e r en t ed

f rom e ven t c omp an i es l ike J amb or ee p l ac e, wh os e pr ic es ar e

r eas on ab l e an d l oc at i on is ap p r opr i a t e, t h ey l oc at e in T ampi n es ,

wh ich is n ot th at f ar f r om Mar in a S ou t h P i er , wh ic h c an s een i n

Ap p en d ix 9. Acq u an et t a w i l l t r y t o f i n d f ood s u pp l i ers wh os e l oc at i on

w i l l b e n ear t o Mar i n a B a y in ord er t o s ave t r ans p or t at i on c os ts .

F ood w i l l b e or d er ed f or ever y d ay n eeds . I t was c a lc u l at ed t h at t h e

c os ts of r ef r i g er at ors t o s t or e f r ozen p r od uc ts an d f res h pr od uc ts

an d e l ec t r ic i t y f or th em ar e h i gh er th an c os ts f or ever y d ay d el i ver y;

ad d i t i on al l y t h er e is an ad van t ag e of f r es h q u al i t y p r od uc ts . I n i t i a l l y

f ood w i l l b e pr ep ar ed b as ed on c h ef kn owl ed g e a nd es t i mat i on s ,

f ur t h er t h e s ur vey w i l l b e c on d uc t ed ab ou t h ow muc h f ood is us ed

p er d i nn er or l unc h, wh at c an b e us ed f or f ur th er r ec yc l i ng an d wh at

ar e t h e cus t omers ’ p r ef er enc es ; on t h at kn owl ed g e t h e d em an d f or

pr od uc ts w i l l b e pr o vi d ed f or s u pp l i ers we ek in ad van c e i n or d er f or

sup p l i ers t o h ave a l l t h e r eq u i r ed an d d el i ver i t on t i me.

4 . 5 . Acc ess t o t r ans p or t at i on

Mar i n a S ou th P i er is eas y t o r e ac h b y p u bl ic t r ans p or t as wel l as b y

c ar .

Pu bl ic t r ans p or t :

SBS T r ans i t N o 4 0 2 f r om Mar i n a B a y MRT

T h er e ar e 1 1 SBS T r ans i t an d 12 S MRT b us es f r om S h en t on

W ay

T h er e ar e 1 4 SBS T r ans i t an d 5 S MRT b us es f r om Ans on R oad


31

5 SBS T r ans i t b us es f r om Mar in a St at i on R oad

P ar k in g :

Ons i t e (C ash C ar d p aym en t )

Al on g Mar i n a C oas t a l Dr i ve (c ou p on p ar k in g)


32

Se ct i o n F iv e :

M anag e m ent

5. 1. Man ag em en t t eam

T h e Acq u an et t a man ag emen t t e am w i l l b e b al anc ed in t a l en ts an d

e xp er i enc e. Man ag em en t w i l l b e d i v i d ed i n t o f o l l ow i n g c at eg or i es ,

wh ich ar e d esc r i b ed in F ig ur e1 6 .

Fig ur e 1 6 M an ag e m ent t e am

M a n a g e me n t ca t e g o r y R e s p o n s ib i l i t ie s / D u t ie s

O p e r a t io n a l a n d o n s it e ma n a g e me n t

A s s i s t i n d ev e l op m en t o f b u s in es s De v e lop m en t o f m ark e t i n g s t ra t eg y an d p lan De v e lop m en t o f op er a t i n g s t ra t eg y an d p lan De v e lop m en t o f op er a t i n g b u dg et O rg an i z a t i on o f s t a f f r ec ru i t i n g I n t e rv i e w in g , h i r i n g an d rep lac em en t S t a f f t r a i n i n g De v e lop m en t o f p o l i c i es an d p roc ed u res I m p lem en t a t i on o f m ark e t i n g p lan C ru i s e op en in g an d s t a r t u p p lan ev en t s an d

ac t u a l op er a t i on s Mon i t o r i n g an d c on t ro l l i n g o f b u d g et s Cas h c on t r o l s ys t em s

Ke y P e r s o n n e l

C E O Dea l wi t h g en er a l b u s in es s p r ob lem s F i n an c ia l I s s u es Re vi e w B u d g et s Do c as h fo re c as t Re vi e w ob l i g a t i on s i f an y E n s u re p aym en t o f t a x es C re a t e c om p an y c u l t u r e B u i l d i n g m an ag em en t t eam Fu n d - ra i s i n g S e t t i n g s t ra t eg y an d v i s i on Cap i t a l a l l oc a t i on

Bo a r d o f D i r e c t o r s (o n e o f d i r e ct o r s M U S T b e S in g a p o r e ’ r e s id e n t )

Rec om m en d at i on s t o t h e op e ra t i on a l d i rec t o r E va lu a t e o v er a l l A c q u an et t a ’ p er f o rm an c e Re vi e w i n c om e e xp en s es an d rec om m en d h ow

t o m ax im iz e t h e p ro f i t Re vi e w op er a t i on a l p r oc ed u r es , i n c lu d in g

s a fe t y, s t a f f i n g , t ra i n i n g , n ew r e v en u e s ou rc es Re vi e w m ark e t i n g p lan T i c k e t p r i c i n g Re vi e w o f c u s t om er ’ f eed b ac k E d i t i n g o f m en u an d t ou r p ac k ag es Re vi e w a l l f i n an c ia l d a t a a t t h e en d o f t h e y e ar


33

P ers on n el P l an

Acq u an et t a p l ans t o ke ep t h e f ol l ow i n g p os i t i ons o ver th e n ext th r e e

years ( F ig ure 1 7 )

Fig ur e 1 7 P er s on ne l P l an

In i t i a l l y t h e a l l p ers on n el c ons i d er ed as f u l l t ime, f ur t h er c omp an y

w i l l eva l u at e wh et h er t h is n u mb er of p ers on n el is sh ou l d b e a l l f u l l

t i me or s om e c an b e p ar t t i me or ma yb e ad d i t i on al wor kf orc e w i l l b e

r equ i r ed .

2 0 1 0 2 0 1 0 2 0 1 2

M a na g e r 1 1 1

G r o u p Sa l e s ma n g e r 1 1 1

E n t e r t a i n me n t ma n a g e r 1 1 1

F o o d a n d C a t e r i ng ma n g e r 1 1 1

Se c r e t a r y S u ppo r t Su pe r v i s o r 1 1 1

C a pi t a n 1 1 1

C a pi t a n a s s i s t a nt 1 1 1

C h e f 2 ( 1 /1) 2 ( 1 /1) 2 ( 1 /1)

C h e f a s s i s t a nt 4 ( 2 /2) 4( 2/ 2) 4 ( 2 /2)

D i s h w a s h e r 4 ( 2 /2) 4 ( 2 /2) 4 ( 2 /2)

D J 2 ( 1 /1) 2 ( 1 /1) 2 ( 1 /1)

Wa i t e r s 4 ( 2 /2) 4( 2/ 2) 4( 2/ 2)

C l e a ni n g St a f f 2 ( 1 /1) 2 ( 1 /1) 2 ( 1 /1)

T o t a l p e r d a y 16 16 16

T o t a l 25 25 25

O u t s o u r ci n g

E n t e r t a i n me n t t e a m 1 t eam 1 t eam 1 t eam


34

5 . 2 . L eg al s t r uc t ur e

Typ e of B us in ess

Acq u an et t a w i l l r eg is t er as P r i vat e C omp an y L i mi t ed b y S h ar es ( Pr e

Lt d) . Ac qu an et t a w i l l h ave i ts own l eg al id en t i t y , s ep ar at e f r om

sh ar eh ol d ers an d d i r ec t ors ; c omp an y c an ac qu i r e ass ets , g o i n t o

d eb ts , ent er in t o c on t r ac ts , s u e or b e s u ed i n i ts own n am e ( J anus

C or p or at e S olu t i on s Pt e Lt d, 2 0 1 0 ) .

Emp loy men t

Acq u an et t a w i l l f o l l ow S i n g ap or e E mpl o ymen t Ac t f or wor kmen

ear n i ng n ot mor e t h an S $4 ,5 0 0 b as ic mon t h l y s al ar i es an d

emp l oye es ear n i n g n ot mot mor e th an S $2 ,0 0 0 b as ic mon t h l y

s al ar i es , whic h c o ver s ever y emp l o yee r eg ar d l ess n a t i on al i t y t h at is

un d er a c on t r ac t of s er v i c e, exc ep t man ag ers a nd execu t i ves ,

s eaman an d d omes t ic wor kers . A pp e nd ix 10 f ur t h e r exp l a i ns th e

r egu l at i ons r eg ar d i ng emp l o ymen t an d d et er m i n at i on of th e

c on t r ac ts . B as ed on S i ng ap or e r eg u l at i on s emp l oye e c an wor k n ot

mor e th an 8 h ou r p er d a y or 44 h ours i n a we ek . T h e l i m i t c an b e

e xc e ed ed i f emp l oye e is n ot wor k in g mor e t h an 5 d ays p er week ,

h owe ver n ot t h an 9 h ou rs p er d ay; in o t h er c as e c omp an y sh ou l d

ap p l y f or over t i me e xemp t i ons . A d di t i on al l y , Ac q u an et t a sh ou l d

f o l l ow F ai r E mpl o ymen t Pr ac t ic es , whic h inc lu d e r ec r u i t an d t r eat a l l

emp l oye es r eg ar d l ess g en d er , r e l i g i on , d is abi l i t y or r a c e an d p r ovi d e

th em w i t h eq u al op p or t u n i t i es . A ls o A c qu an et t a wi l l n e ed t o

c ons id er t h at f or ever y f i ve f or e i g n wor kers i n Mar i n e s ec t or i t w i l l

n eed t o f i r e on e l oc al f u l l - t i me wor ker an d f or s er v ic es sh ou l d b e

ab o ve 40 % t o 5 0% l oc al wor kf orc e of t h e t o t a l f or e ig n wor kf orc e .

L ic e nses a nd r eg is t ra t io ns


35

Acq u an et t a n eeds t o r eg is t er sh i p t o t r an sp or t p assen g ers , c omp l y

w i t h s af et y an d s an i t a t i on , ens ur e th at sh ip of f i c ers an d c r ew

memb ers h ol d va l i d l ic ens e an d wor k p er m i ts t o wor k on b o ar d. I n

or d er t o op er at e l eg al l y t h e f o l l ow i n g l ic en s es f or Acq u an et t a s h ou l d

b e ob t a i n ed:

Bus i n ess r eg is t r a t i on

Bus i n ess N am e r eg is t r a t i on

Pu bl ic en t er t a i n men t L ic ens e

C op yr i g ht L ic ens e f or Mus ic

H ar b ou r / P l e asu r e c r af t L ic ens e

Pl eas ur e c r af t r eg is t r a t i on

Ins p ec t i on of t h e c r af t

S af et y E q ui p men t C er t i f ic at e

P er m iss i on t o l au nc h n ew vess el in p or t

Li q u or L ic ens e

F ood S h op L ic ens e

H al a l E at i n g Es t ab l is h men t Sc h eme

Lic ens e t o O p er at e a meat or F is h P r oc ess i n g Es t abl ish men t o f

C old S t or e

Pl an ap pr o val f or F i r e s af et y wor k

Sh ip S t at i on L ic ens e

business plan small cruise business (1mil$ business)

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