Coach House Bed and Breakfast
Opportunity
Problem & Solution
Problem Worth Solving
We have tourists that like coming to visit and explore Tybee Island. Some people think travelers just need a place to rest their head and put their stuff. Travelers need to create a home away from home. A place where they can fully recharge from their worries and travels.
Our Solution
The riches of Chatham County have always drawn a significant number of tourists to the Savannah/Tybee Island area. In addition to providing information about such locations, we plan to collaborate with tour agencies and businesses throughout the area by offering packages and special rates.
The mission of Coach House is to become the best choice in Tybee for temporary lodging by expanding our exposure via the new web competition (with multiple networks and links), and introducing the island to areas that have not yet discovered this year-round paradise. We plan to be more than a great bed and breakfast. We plan to create an environment of pampered luxury that surpasses the standard fare for Tybee.
Target Market
Market Size & Segments
Target Market Segment Strategy
The Marsh Hen’s history demonstrates that money can be made in this area simply by existing. We continue to see that Tybee Island, in general, is under exposed as a winter vacation destination. We plan to aggressively pursue guests from the north while introducing Tybee Island to this under-tapped market population. We also plan to use the B&B for local patrons by opening it for catered parties, receptions, etc.
Subscriptions to various Web services will provide international exposure for nominal annual fees. Committing to staying in the building to book reservations and opening the B&B to diverse groups of people will also increase bookings.
Market Needs
Similar to tourists who choose to stay in traditional hotels, customers who patronize B&Bs seek relaxation, fun and stress management while on vacation. However, this type of customer also prefers comfortable accommodations in a cozy, family environment. These patrons are more social, they love meeting new people while at the same time require enough privacy to enjoy their vacation. Coach House has all the necessary facilities to attract such customers.
Competition
Current Alternatives
B&Bs, along with other short-term lodging on Tybee Island, have been a substantial part of the island tourism. Of the short-term lodgings on Tybee, ten are categorized as Inns, 19 as long-term lease facilities (rentals, condos, and houses) and only four as B&Bs, including the Coach House (currently operating as the Marsh Hen Bed and Breakfast). Hotels/motels constitute the largest percentage of rental properties on the island in terms of units. However, the average B&B patron is not typically interested in the hotel/motel climate. That and the comparison of rates, which are substantially higher in the hotel/motel industry, do not put such facilities in the category of competitor.
Airbnb has not made significant changes in the competitive landscape. If anything, it has added demand. There are a few offerings on Airbnb that are legitimately private homes, competing with real business lodging.
Keys to Success
Keys to Success
In order to succeed, the new management will strive to achieve the following goals:
- Position us well with Airbnb.
- Position Coach House B&B as the best B&B on Tybee Island among the numerous tourists.
- Build strong market position among the local patrons.
- Maintain sound financial management of the venture.
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