Proposal for 'Dinner in the sky' project

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Proposal for Dinner in the sky project

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           PROPOSAL FOR ‘DINNER IN THE SKY PROJECT

Module: Industry project for hospitality, tourism, festivals & events

TSM 11102

Module leader: Joan McLatchie

Team matriculation numbers: 10018793, 10013307, 09900052, 10015836

         

     

TABLE OF CONTENT

1.1. Aim and objectives        

2. EVALUATION OF BUSINESS SECTOR        

2.1. Business trends of ‘Dinner in the sky’ event        

2.2. The target market        

3. PLANNING AND DESIGN DETAILS        

3.1. Venue details        

3.2. Presumable entertainment        

3.3. Flexibility of locations        

3.5. Operations        

3.6. Marketing        

4. JUSTIFICATION OF ‘DINNER IN THE SKY’ PROJECT        

4.1. Location        

4.2. Climate issues        

4.3. Environmental issues        

4.4. Competition and demand        

4.5. Safety issues        

5. CONSIDERATION OF STAKEHOLDERS EXPECTATIONS        

6. KEY SUCCESS INDICATORS        

6.1. Financial management        

6.2. Risk assessment        

7. CONCLUSION        

REFERENCES        

APPENDICIES        

Appendix 1 – Price List and Extensive Venues of Heritage Portfolio        

Appendix 2 - Planning Permission        

Appendix 3 SWOT Analysis of Dinners in the Sky        

Appendix 4- Pest Analysis of Dinners in the sky        

Appendix 5 - Layout of the venue, platform and all technical specifications        

Appendix 6 Stakeholder’s expectations        

Appendix 7 Indirect competitors        

Appendix 8 Competitors map        

Appendix 9: Dinners in the sky in Edinburgh survey:        

Appendix 10 Dinner in the sky business for sale        

Appendix 11 the budget forecast for one year        

Appendix 12 Price list        

Appendix 13 Risk assessment        

1. INTRODUCTION

Dinner in the sky is a relatively new entrepreneurial project which could help to experience an ordinary meal, meeting or some of the leisure activities in a completely new way – in the sky (Events in the sky, 2011).

Dinner in the sky is already operating in various cities around the world and Edinburgh is another place where this project has a big potential to be launched. All the reasons which cover this will be outlined here in the proposal, but most importantly – no doubt, it would provide something unforgettable for local community, as well as tourists.

In this report Dinner in the sky business environment will be reviewed, with its potential target markets; also planning and design details of the project and key success indicators for this entrepreneur idea to work out in Edinburgh will be identified later on.

1.1. Aim and objectives

The main aim is to prepare a proposal for a franchise of “Dinner in the sky”, in Scotland, Edinburgh.

Objectives of our project:

  1. To review Dinner in the sky business environment and identify potential target markets
  2. To identify relevant planning and design details of this project, which need to be considered prior to implementation
  3. To deliberate the possible benefits for this projects’ stakeholders
  4. To consider circumstances why this entrepreneur idea would work out in Edinburgh and what key success indicators would be

2. EVALUATION OF BUSINESS SECTOR

2.1. Business trends of ‘Dinner in the sky’ event

        Dinner in the sky is one of the examples how thinking out-of-the-box resulted in an amazing entrepreneur idea, which received significant interest all round the world.

This idea was invented in 2006 by young marketing entrepreneur David Ghysels, in Belgium and ‘Dinner in the sky’ restaurants were ranked as among top ten most unusual restaurants in the world by Forbes magazine (Dinner in the sky, 2011).

The principal of the Dinner in the sky project is to use a crane to hoist the platform with tables and chairs on it to 150 feet height into the air.  This method enables the platform to be raised in multiple locations – in the city centre, in the country side, in the park or above the sea, it’s usually never held in the permanent place and is not working as a constant restaurant. It will be in operation once a session is booked and it can deliver the platform where ever the client requests, as long as all venue permissions are possible to receive.  

        Up until today, this idea was implemented in Belgium, Holland, Portugal, UK, Slovakia, Germany, Australia, New Zealand and even South Africa, which just proves how potential this project in different parts of the world (Events in the sky, 2011).

There is a strong unique selling point associated with the franchise, which will be one of the main factors influencing customers to dine at the experience, as outlined in the survey on local residents. The franchise will be seen to bring about many advantages for local businesses in Edinburgh and for residents of the city, as the sky dinner project will help to attract more tourists to the city and enhance Edinburgh’s reputation as a city of cultural events and festivals. As there are no direct competitors in operation in the city of Edinburgh, such an innovative experience has the potential to have a strong market share, and be a successful attraction for local residents, tourists and corporate clients.

        Even though Edinburgh still doesn’t have a franchise for this project, the event ’Dinner in the sky’ was already held in this destination in 2010 during the festival which was located in Princess Street Gardens (BBC, 2010). This experience was extremely popular, and attracted extensive media coverage, therefore it could be envisaged that this event has a high level of potential for further development in Edinburgh (Informed Edinburgh, 2010).

        With a reference to Allen et al (2008), a more detailed process, which could help to understand event’s internal and external business environment are its SWOT and PEST analysis, see Appendix 3 and 4. As Holloway (2004) states, it is essential to determine the objectives of the business venture for the future in order to eliminate risks, and identify any possible problems it may face in achieving these objectives, either from internal or external sources. Thus, when accessing the current marketing situation of the franchise a SWOT analysis should be undertaken, see Appendix 3.

2.2. The target market 

        Considering the price for experiencing this event – an average of 10 000 pounds for 22 guests 8 hours session, this mostly targets corporate clients. However, with a reference to Shone & Parry (2001) an event rarely has just one target market and in this projects’ case, prices and length of the dinner session can be adapted accordingly to different market segments.

        Hence, even though Dinner in the sky will be mainly targeting corporate clients, local individuals and tourists will be its secondary target markets.

 The sky dinner project has the potential to capture three main markets which include:-local residents-tourists-corporate clients. There will be too different packages offered; one for corporate clients and the other for day to day visitors which include the other two markets. For corporate clients, the experience will be a lot more formal, and clients will be given the venue for up to 8 hours session and it is expected it will be booked at least once per week. These clients will also be expected to avail of the entire dining experience, which can cater for up to 22 guests at one seating. In addition of their experience, Dinner in the sky also gives opportunity for companies to advertise their brand on the platform, while enjoying their dinner.  

Local residents and tourists will be offered to experience this event twice a week – Fridays and Saturdays and will be in a position to book for smaller numbers at one setting, with 2 settings taking place each day, with a maximum duration of two hours per setting. The potential customers will be in a position to book well before the event takes place. By setting taking bookings in advance will allow the franchise to comply with planning permission regulations, and will also help to eliminate risk, as demand for the event will be anticipated before the experience takes place.

3. PLANNING AND DESIGN DETAILS

3.1. Venue details

According to Shone and Perry (2004), choosing the most appropriate location for the venue is crucial for the overall success of the events. Therefore a great amount of consideration was given before choosing Princes St Gardens as the main venue for the site in relation to the following requirements:

  • Accessible city centre location
  • Enough space to cater for all deliveries
  • Nearby accommodation for visitors to the city
  • Availability for catering and alcohol license
  • Health & Safety legislations/procedures

Princes St Gardens is a centrally located park, very accessible to Edinburgh’s Waverly train station with many bus links located within walking distance. It must be pointed out how there is only limited pay parking in the area, however this is not seen as a major issue as alcohol will be served at the venue and the use of public transport or taxi will be encouraged.

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3.2. Presumable entertainment

Even though in the beginning of the franchise,  the primary idea was to organize just dinners in the sky,  which has now expanded to other events – to organize wedding in the sky, meetings in the sky, theatre in the sky, concert in the sky and etc. (Events in the sky, 2011).

        Presumable entertainment during dinner will depend on customers’ preferences – which could include a performance of violinist, pianist or singer, with another possible activity including a game of poker after the dinner. Entertainers would be performing on another platform, which is nearby the platform ...

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