Kidz Party Adventures Member Names Here. Service Feasibility Analysis Study

Kidz Party AdventuresKidz Party Adventures

Member Names HereMember Names Here

Service Feasibility Service Feasibility Analysis StudyAnalysis Study

Concept StatementConcept StatementService DescriptionService Description– Business Name - Kidz Party Adventures Business Name - Kidz Party Adventures – Provide complete birthday service just for boys. Provide complete birthday service just for boys. – Mimic two successful businesses just for girls: Mimic two successful businesses just for girls:

Libby Lu and Sweet and Sassy.Libby Lu and Sweet and Sassy.– Boys would dress up in their favorite theme costumes, play games, receive Boys would dress up in their favorite theme costumes, play games, receive

prizes. prizes. – Each theme party is unique and is catered to the boy’s desires and creativity.Each theme party is unique and is catered to the boy’s desires and creativity.– Boys can choose from a wide variety of adventures, such as dinosaurs, Boys can choose from a wide variety of adventures, such as dinosaurs,

superhero, swashbuckling pirates, and wizards. superhero, swashbuckling pirates, and wizards. – Take care of everything from planning the party to the clean-up. Take care of everything from planning the party to the clean-up. – Held at our convenient Dayton, Ohio location. Held at our convenient Dayton, Ohio location.

Target Market DescriptionTarget Market Description– Parents, single parents, and grand parents who don’t have the time or energy Parents, single parents, and grand parents who don’t have the time or energy

to plan and conduct a birthday party. to plan and conduct a birthday party. – While the general target market is considered the entertainment industry; Kidz While the general target market is considered the entertainment industry; Kidz

Party Adventures will specifically target boy themed birthday parties for boys Party Adventures will specifically target boy themed birthday parties for boys 4-12 years old. 4-12 years old.

Concept StatementConcept Statement(Continued)(Continued)

Value PropositionValue Proposition– Local demographics for Montgomery, Greene, and Warren CountiesLocal demographics for Montgomery, Greene, and Warren Counties

117,748 children, ages 4-12117,748 children, ages 4-1259,510 of them boys59,510 of them boysIf parents spend an average of $200 for a birthday party, If parents spend an average of $200 for a birthday party, Local market can be estimated at $11.9M. Local market can be estimated at $11.9M. Women aged 20-44 account for 57% of the workforceWomen aged 20-44 account for 57% of the workforce

– ““time poverty”, challenge of juggling work and life responsibilities continue time poverty”, challenge of juggling work and life responsibilities continue to fuel growth in service industry sectors like birthday parties. to fuel growth in service industry sectors like birthday parties.

DifferentiatorsDifferentiators– First mover advantage in offering boy-themed birthday party First mover advantage in offering boy-themed birthday party

services. services. – Dedicated to helping boys create special memoriesDedicated to helping boys create special memories

Express their individuality and imagination. Express their individuality and imagination. Service excellence is achieved by creating an environment where the Service excellence is achieved by creating an environment where the birthday boy and his guests feel like heroes by participating in birthday boy and his guests feel like heroes by participating in professionally designed and facilitated theme activities. professionally designed and facilitated theme activities.

Concept StatementConcept Statement(Continued)(Continued)

How the Service is SoldHow the Service is Sold– Sell services from a store front located near either the Sell services from a store front located near either the

Fairfield Commons Mall or The Greene. Fairfield Commons Mall or The Greene. – Theme prices range from $15 to $35 per boy. Theme prices range from $15 to $35 per boy.

Description of FoundersDescription of Founders– Management team:Management team:

Member 1Member 1Member 2Member 2Member 3Member 3Member 4Member 4The team has 59 years of combined work experience with The team has 59 years of combined work experience with expertise in sales, marketing, manufacturing, purchasing, expertise in sales, marketing, manufacturing, purchasing, engineering, training, party planning and entrepreneurship. engineering, training, party planning and entrepreneurship.

Marketability of the ServiceMarketability of the Service

Solve a problemSolve a problem– Boy-themed party venue – currently does not existBoy-themed party venue – currently does not exist

Make someone's life more efficientMake someone's life more efficient– Save parents time (time poverty)Save parents time (time poverty)– Party planning, preparation, clean-up, hostingParty planning, preparation, clean-up, hosting– Less stressLess stress

Make someone's life more effectiveMake someone's life more effective– Quality time can be spent with childrenQuality time can be spent with children– Children have unique party experienceChildren have unique party experience

•Administered using Surveymonkey.com

•Given to friends and family

•89 responses out of 140

• 64% Response Rate

•28 Questions

•Parents

•Sons

•Daughters

http://www.surveymonkey.com/s.asp?u=99753456374

Survey SummarySurvey Summary

Question?Question? Primary Primary ResponseResponse

%%

How many children?How many children? 22 49%49%

How many typically attend?How many typically attend? 11 to 1511 to 15 35%35%

Pay $ per child?Pay $ per child? $5 to $9.99$5 to $9.99 4747

How long should party last?How long should party last? 2 Hours2 Hours 63%63%

What is typical budget?What is typical budget? $51 - $100$51 - $100 35%35%

Favorite name for business?Favorite name for business? Party Party AdventuresAdventures

40%40%

Chuck E. Cheese’s or Pirates?Chuck E. Cheese’s or Pirates? Chuck E.Chuck E. 54%54%

Girls attend Libby Lu or Sweet Girls attend Libby Lu or Sweet N Sassy?N Sassy?

NoNo 88%88%

Survey DemographicsSurvey Demographics

Gender - 60% FemaleGender - 60% Female

Age Bracket - 42%, 25-34 yearsAge Bracket - 42%, 25-34 years

Education – 78% College graduateEducation – 78% College graduate

Annual Household Income – 47% >$100KAnnual Household Income – 47% >$100K

Marital Status – 90% MarriedMarital Status – 90% Married

Age of KidsAge of Kids– Boys 9.3 years, Boys 9.3 years, ± 8 STD± 8 STD– Girls 8.0 years, Girls 8.0 years, ± 6 STD± 6 STD

Did Survey Results Meet Did Survey Results Meet Expectations of Target Market?Expectations of Target Market?

Demographic surprisesDemographic surprises– 90% Married90% Married– 47% over $100,000 household income47% over $100,000 household income– 78% college educated78% college educated– Not a random sampleNot a random sample

Between Chuck E. Cheese’s and Pirate PartyBetween Chuck E. Cheese’s and Pirate Party– 54% choose Chuck E. Cheese’s54% choose Chuck E. Cheese’s

Libby Lu and Sweet & SassyLibby Lu and Sweet & Sassy– 88% not attend birthday parties at either place88% not attend birthday parties at either place

71% of Daughters would attend a boy themed party71% of Daughters would attend a boy themed party41% Chose Party Adventures for company name 41% Chose Party Adventures for company name 73% spend less than $150 on child’s party less presents73% spend less than $150 on child’s party less presentsOverall, survey results did not meet the expectations of Overall, survey results did not meet the expectations of the target marketthe target market

Profile of Target CustomerProfile of Target Customer

Families with boys age 4 – 12 yearsFamilies with boys age 4 – 12 years

Dual household income $50,000+Dual household income $50,000+

Working parents crunched for timeWorking parents crunched for time

Families with 2 to 4 children Families with 2 to 4 children

Higher levels of disposable incomeHigher levels of disposable income

Parents, single parents, and grand parentsParents, single parents, and grand parents

Higher levels of educationHigher levels of education

Usability TestUsability TestSteps to be taken:Steps to be taken:– Invite friends or family for a boys birthday party Invite friends or family for a boys birthday party – Rent a party room facility at a VFW, church or other location Rent a party room facility at a VFW, church or other location – Select a popular boy theme and provide party suppliesSelect a popular boy theme and provide party supplies– Purchase food, drink, games, prizes, and decorationsPurchase food, drink, games, prizes, and decorations– Set-up facility to simulate the building layout Set-up facility to simulate the building layout

How potential customers would use your service How potential customers would use your service – Pay a discounted fee for the partyPay a discounted fee for the party– Participate and experience a boys birthday partyParticipate and experience a boys birthday party– Provide feedback as to the quality, quantity, delivery, and timeliness Provide feedback as to the quality, quantity, delivery, and timeliness

of the serviceof the service

Features of the service would be easy or difficult to use Features of the service would be easy or difficult to use – Food offering should be easyFood offering should be easy– Picking themes and decorating may be a challengePicking themes and decorating may be a challenge– Building layout (game room and party room) could be difficultBuilding layout (game room and party room) could be difficult

What changes would be made to the service based on this test What changes would be made to the service based on this test – Potential improvements in quality of food, service, and layoutPotential improvements in quality of food, service, and layout

Building Layout ConceptBuilding Layout Concept

PARTY & DINING AREA

FOOD SERVICE

GAME ROOM

PRIZES

10,000 Square Feet (min)

Intellectual PropertyIntellectual Property

TrademarksTrademarks– Kidz Party AdventuresKidz Party Adventures

No trademarksNo trademarks– ClosestClosest

Kidz Blast – The Ultimate Private PartyKidz Blast – The Ultimate Private PartyKidz Partiez Plus.comKidz Partiez Plus.com

PatentsPatents– None foundNone found

Internet SearchInternet Search– Party Adventures (Milton,VT)Party Adventures (Milton,VT)

www.partyadventures.comwww.partyadventures.comPrompted name changePrompted name change

First/Second Mover First/Second Mover

First Mover AdvantageFirst Mover Advantage– Yes, first in offering “Boys” birthday partiesYes, first in offering “Boys” birthday parties– Weak first mover position:Weak first mover position:

Lack a technological advantageLack a technological advantageSwitching costs are lowSwitching costs are lowSome strategic valuable assetsSome strategic valuable assets– Location and brandLocation and brand

Second Mover AdvantageSecond Mover Advantage– Yes, entering an existing birthday party industryYes, entering an existing birthday party industry– Cost advantagesCost advantages

Industry/Market and Industry/Market and Competitive Environment Competitive Environment

Feasibility AnalysisFeasibility Analysis

Description of IndustryDescription of Industry

IndustryIndustry– Birthday Party IndustryBirthday Party Industry

Many options for a child’s birthday party outside the Many options for a child’s birthday party outside the homehomeNo specific NAICS, SIC for Children’s Birthday Party No specific NAICS, SIC for Children’s Birthday Party IndustryIndustry

– Full Service Restaurants (NAICS - 722110) Full Service Restaurants (NAICS - 722110) – Amusement and Theme Parks (NAICS - 713110) Amusement and Theme Parks (NAICS - 713110) – Amusement Arcades (NAICS - 713120) Amusement Arcades (NAICS - 713120) – Museums (NAICS - 712110) Museums (NAICS - 712110) – Bowling Alleys (NAICS - 713950)Bowling Alleys (NAICS - 713950)

Description of IndustryDescription of Industry

Industry (cont’d)Many Options - FragmentedMany Options - Fragmented

Franchises – Chuck E. Cheese’sFranchises – Chuck E. Cheese’sMuseums – BoonshoftMuseums – BoonshoftBowling AlleysBowling AlleysSkating RinksSkating RinksSpecialty Facility – Pump it Up, Build a Bear, Recreation Centers, Specialty Facility – Pump it Up, Build a Bear, Recreation Centers, Libby Lu’s, Sweet & SassyLibby Lu’s, Sweet & SassyPrimarily offered as an additional service not primary businessPrimarily offered as an additional service not primary business

Industry Size - Local– Local Opportunity

Montgomery, Warren, Greene Counties Target customers – 117,748 children 4 -12 50% boys – 59,510 Average family would spend $200 per party Market size - $11.9M

Porters Value ChainPorters Value Chain

Porter’s Value Chain - Primary ActivitiesPorter’s Value Chain - Primary Activities

Inbound Logistics

Operations Outbound Logistics

Marketing Sales

Service

Receiving & Inventory

• Party Supplies• Props• Costumes • Food

Party Management

• Planning• Preparation• Theme management• Food service

Party Facilitation

• Serving food• Entertaining• Prize Bags• Presents

Marketing

• Strategy & management

Sales• Direct sales• Customer management

• Customer service• Game facilitation• Clean-up• Facilities

• Delivery

Service

• None • None • Brochures• Website• Advertising

• None

Intern

al

Ex

terna

l

Porter’s Value Chain - Support ActivitiesPorter’s Value Chain - Support Activities

InternalInternal ExternalExternalAdministration General Management

Strategic PlanningQuality ManagementFinance

LegalAccounting

Human Resources RecruitingInterviewingEducationPerformance

BenefitsHR Consultant

Technology Development

Process OptimizationProcess DesignGame DevelopmentCustomer Interaction

Childhood development consultant

Resource Procurement

Food & SuppliesPropsCostumes

None

Porter’s Porter’s Five ForcesFive Forces

RivalryAmongCurrent

Competitors

Bargaining Power of Suppliers

Bargaining Power of

Customers

Threat of New Entrants

Threat of Substitute

Products or Services

Economies of Scale – possible to franchise across the Economies of Scale – possible to franchise across the country and gain some first mover advantage, difficult to country and gain some first mover advantage, difficult to protect conceptprotect conceptCapital Requirements – low/mediumCapital Requirements – low/mediumDifferentiation – industry already offers a diverse and Differentiation – industry already offers a diverse and differentiated offering would be challenging to create and differentiated offering would be challenging to create and sustain further differentiationsustain further differentiationCost Advantages Independent of ScaleCost Advantages Independent of Scale– Managerial Know-how – low advantageManagerial Know-how – low advantage– Proprietary Technology – lowProprietary Technology – low– Raw Materials – NARaw Materials – NA– Learning Curve – lowLearning Curve – low

Government Regulation – NAGovernment Regulation – NAOverall, Threat of New Entrants is HighOverall, Threat of New Entrants is High– Makes Industry Attractiveness and Long Term Makes Industry Attractiveness and Long Term

Profitability LowProfitability Low


RivalryAmongCurrent

Competitors


Bargaining Power of

Customers




RivalryAmongCurrent

Competitors

RivalryAmongCurrent

Competitors


Bargaining Power of

Customers




Number of Customers is Significant – 59,510 Number of Customers is Significant – 59,510 boys in local marketboys in local market

Commodity – product is differentiated, long term Commodity – product is differentiated, long term differentiation would be challengingdifferentiation would be challenging

Customer Profits – target households earning Customer Profits – target households earning $50,000 or more$50,000 or more

Backward Integration – lowBackward Integration – low

Overall – threat of Customers is lowOverall – threat of Customers is low– Increases industry attractiveness, and long Increases industry attractiveness, and long

term profitabilityterm profitability

Bargaining Power of Customers

RivalryAmongCurrent

Competitors


Bargaining Power of

Customers




RivalryAmongCurrent

Competitors

RivalryAmongCurrent

Competitors


Bargaining Power of

Customers




Threat of Substitute Products or Services

RivalryAmongCurrent

Competitors


Bargaining Power of

Customers




RivalryAmongCurrent

Competitors

RivalryAmongCurrent

Competitors


Bargaining Power of

Customers




Large number of substitute servicesLarge number of substitute services

Overall – threat of Substitute services is very highOverall – threat of Substitute services is very high

SUBSTITUTESSUBSTITUTES SWITCHING EASESWITCHING EASE HOW TO DIFFERENTIATEHOW TO DIFFERENTIATE

BowlingBowling Challenging – time consuming and Challenging – time consuming and expensiveexpensive

Offer fast low cost solutionsOffer fast low cost solutions

SkatingSkating Challenging – some food, no cake, Challenging – some food, no cake, or decorationsor decorations

Offer package deals including Offer package deals including to include food, cake, and to include food, cake, and other servicesother services

PizzaPizza Easy – typically no games or fun Easy – typically no games or fun things to do things to do

Include games and Include games and entertainmententertainment

YMCAYMCA Challenging – don’t offer food, cake Challenging – don’t offer food, cake or decorationsor decorations

Provide food, cake, and other Provide food, cake, and other servicesservices

Large number of suppliersLarge number of suppliersLittle threat of forward integrationLittle threat of forward integrationProduct differentiation in cost and qualityProduct differentiation in cost and quality– Low cost and low quality productsLow cost and low quality products

Generic cups and plates, no fancy printingGeneric cups and plates, no fancy printing

– Higher cost and higher quality productsHigher cost and higher quality productsProducts are associated with specific themesProducts are associated with specific themes

Firms are moderately important to suppliersFirms are moderately important to suppliersOverall – suppliers have little powerOverall – suppliers have little powerImproves market attractiveness and potential for Improves market attractiveness and potential for long-term profitabilitylong-term profitability


RivalryAmongCurrent

Competitors


Bargaining Power of

Customers




RivalryAmongCurrent

Competitors

RivalryAmongCurrent

Competitors


Bargaining Power of

Customers




RivalryAmongCurrent

CompetitorsLow to moderate in regards to rivalryLow to moderate in regards to rivalry among competitors. among competitors.

Factors that increase rivalry in an industry:Factors that increase rivalry in an industry:– There are a number of competitors in our region There are a number of competitors in our region

with no clear leader in the market with no clear leader in the market incentive to compete incentive to compete harder for market leader positionharder for market leader position

– The fixed costs can be relatively high The fixed costs can be relatively high facility, props and equipment, facility, props and equipment, liability protectionliability protection

– Switching costs are lowSwitching costs are low– Exit costs can be high-facility, props and equipmentExit costs can be high-facility, props and equipment

Factors that decrease rivalry in an industry:Factors that decrease rivalry in an industry:– Product is not perishable and does not need to be stored or sold Product is not perishable and does not need to be stored or sold

immediatelyimmediately– Product is unique-focusing on specific age group of boysProduct is unique-focusing on specific age group of boys– The market for party services is growing The market for party services is growing more customers without more customers without

necessarily taking directly from a competitornecessarily taking directly from a competitor RivalryAmongCurrent

Competitors


Bargaining Power of

Customers




RivalryAmongCurrent

Competitors

RivalryAmongCurrent

Competitors


Bargaining Power of

Customers




Summary Summary Porter’s Five ForcesPorter’s Five Forces

Force

Industry Attractiveness and Prospects for Long-Term

Profitability Threat of New Entrants Bargaining Power of Customer (Buyers)

Threat of Substitute Products or Services


Rivalry Among Current Competitors

Overall

RivalryAmongCurrent

Competitors


Bargaining Power of

Customers




RivalryAmongCurrent

Competitors

RivalryAmongCurrent

Competitors


Bargaining Power of

Customers




Industry StructureIndustry Structure

FragmentedFragmented– Few barriers to entry, no economies of scaleFew barriers to entry, no economies of scale– Large number of small to medium size competitorsLarge number of small to medium size competitors– Little experience required to enter industryLittle experience required to enter industry– No size advantage when dealing with No size advantage when dealing with

customers/supplierscustomers/suppliers– No competitor has significant market shareNo competitor has significant market share

Birthday parties not primary source of revenueBirthday parties not primary source of revenue– Possible opportunity in consolidationPossible opportunity in consolidation

Stage of GrowthStage of Growth– MatureMature

Slow growth, service refinementSlow growth, service refinement

How many companies compete in the industry? How many companies compete in the industry? Numerous direct and indirect competitorsNumerous direct and indirect competitors

– Most cases birthday parties not core businessMost cases birthday parties not core business– Examples of businesses that may cater to birthday parties in Examples of businesses that may cater to birthday parties in addition to their core business: addition to their core business:

● ● Indoor play centersIndoor play centers ● ● RestaurantsRestaurants ● ● Craft StoresCraft Stores ● ● Suites for sporting eventsSuites for sporting events ● ● Bowling AlleysBowling Alleys ● ● Retail storesRetail stores ● ● YMCA/Rec. centersYMCA/Rec. centers ● ● Adventure golfAdventure golf ● ● Skating rinksSkating rinks

Market share distribution within the industry:Market share distribution within the industry: Very few businesses in our region focused ONLY onVery few businesses in our region focused ONLY on birthday parties. birthday parties.

—Oogles N Googles, located in Maineville, OH Oogles N Googles, located in Maineville, OH —Pump It Up, located in Miamisburg, OH.Pump It Up, located in Miamisburg, OH.

CompetitionCompetition

Sales in industry are increasing Sales in industry are increasing – Families looking for services to plan and execute the events so that busy Families looking for services to plan and execute the events so that busy

parents can spend quality time with their children. parents can spend quality time with their children.

– Oogles N Googles and Pump It Up experiencing growth in number Oogles N Googles and Pump It Up experiencing growth in number of franchised locations operatingof franchised locations operating 33 Oogles N Googles franchises opening in the first year nationwide33 Oogles N Googles franchises opening in the first year nationwide 230 Pump It Up locations nationwide since 2000.230 Pump It Up locations nationwide since 2000.

Existing firms, first-mover advantages? Existing firms, first-mover advantages? — Not technology leadersNot technology leaders— Do not have strategically valuable assets Do not have strategically valuable assets — Do not have customer switching costsDo not have customer switching costs— Majority of firms providing birthday party services Majority of firms providing birthday party services not core business. not core business.— Chuck E. Cheese's may have a some advantage in reputation/imageChuck E. Cheese's may have a some advantage in reputation/image

that does include children’s birthday parties. that does include children’s birthday parties.


Distinguishing attributes for Kidz Party Distinguishing attributes for Kidz Party Adventures: Adventures:

Targets young boys, ages 4-12 years oldTargets young boys, ages 4-12 years old

Provides themed parties and entertainment thatProvides themed parties and entertainment that focuses specifically on boys’ interests focuses specifically on boys’ interests

Other firms provide general play and game areasOther firms provide general play and game areas

Some firms specifically focus on girlsSome firms specifically focus on girls


The Question of ValueThe Question of Value: Does a resource enable a firm : Does a resource enable a firm to exploit an environmental opportunity and/or neutralize to exploit an environmental opportunity and/or neutralize an environmental threat? an environmental threat?

Environmental OpportunityEnvironmental Opportunity–Result of trends in American parenting stylesResult of trends in American parenting styles

More two income households, fewer children per household, timeMore two income households, fewer children per household, time poverty, etc. poverty, etc. More disposable income per child More disposable income per child Inclination to spend that income on time saving services andInclination to spend that income on time saving services and items that alleviate parental guilt items that alleviate parental guilt like birthday party services like birthday party services

ResourcesResources–Founding team and respective networksFounding team and respective networks

Experience ranging from operations management to marketing, Experience ranging from operations management to marketing, event planning, and early childhood education event planning, and early childhood education

VRIO AnalysisVRIO Analysis

The Question of RarityThe Question of Rarity: Is a resource currently controlled by : Is a resource currently controlled by only a small number of competing firms or are the resources only a small number of competing firms or are the resources used to make the products/services or the products/services used to make the products/services or the products/services themselves rare?themselves rare?

The resources for this type of business are not at all rareThe resources for this type of business are not at all rare

The Question of ImitabilityThe Question of Imitability: Do firms without a resource face : Do firms without a resource face a cost disadvantage in obtaining or developing it? a cost disadvantage in obtaining or developing it? (Is what a firm is doing difficult to imitate?)(Is what a firm is doing difficult to imitate?)

There is no cost disadvantage to obtain resourcesThere is no cost disadvantage to obtain resources Our business concept would not be difficult to imitateOur business concept would not be difficult to imitate


The Question of OrganizationThe Question of Organization: Are a firm’s other : Are a firm’s other policies and procedures organized to support policies and procedures organized to support the exploitation of its valuable, rare, and the exploitation of its valuable, rare, and costly-to-imitate resources?costly-to-imitate resources?

Resources are valuableResources are valuable Resources are not exceptionally rareResources are not exceptionally rare Resources are not very costly to imitateResources are not very costly to imitate Business is organized to best use the resources Business is organized to best use the resources that we do have in our founding team and that we do have in our founding team and corresponding networks corresponding networks


Applying the VRIO FrameworkApplying the VRIO Framework

If a firm’s resources If a firm’s resources are:are:

The firm can expect:The firm can expect:

Not valuableNot valuable Competitive DisadvantageCompetitive Disadvantage

Valuable, but not rareValuable, but not rare Competitive parity (equality)Competitive parity (equality)

Valuable and rareValuable and rare Competitive advantage Competitive advantage (at least temporarily)(at least temporarily)

Kidz Party Adventures’ resources are valuable, but Kidz Party Adventures’ resources are valuable, but not rare, resulting in competitive parity, not a sustainable not rare, resulting in competitive parity, not a sustainable competitive advantage.competitive advantage.

Organizational Organizational Feasibility AnalysisFeasibility Analysis

ManagementManagement

The management team of Kidz Party The management team of Kidz Party Adventures Adventures

The team has 59 years of combined work The team has 59 years of combined work experience with expertise in sales, experience with expertise in sales, marketing, manufacturing, purchasing, marketing, manufacturing, purchasing, engineering, training, party planning and engineering, training, party planning and entrepreneurship. entrepreneurship.

Human Resource NeedsHuman Resource Needs

Skills Needed 1 2 3 4New Hire

1New Hire

2 Outsource Operations X X Sales X X X Marketing X X X Finance X Accounting X Human Resources X Legal X IT X Facilities X X Catering X X Purchasing X Training X X Early Childhood Development X X Party Planning X X Entrepreneurship X X

Legend X = Team Member SkillsX = Future NeedsX = Needs to be Outsourced

Member Member Member Member

Resource SufficiencyResource Sufficiency

The following non-financial resources will The following non-financial resources will help Kidz Party Adventures successfully help Kidz Party Adventures successfully execute its business plan:execute its business plan:– Industry expertIndustry expert– Expertise in Management, strategic planning, Expertise in Management, strategic planning,

and managing a family owned business.and managing a family owned business.– Entrepreneurship experience.Entrepreneurship experience.– Party planning and early childhood Party planning and early childhood

development backgrounddevelopment background– Sales, marketing, and training experienceSales, marketing, and training experience

Resource GapsResource Gaps

Resource gaps will be filled through outsourcing Resource gaps will be filled through outsourcing the following:the following:– Marketing needs beyond what the team can provide Marketing needs beyond what the team can provide

(media, printing, brochures, advertising, etc).(media, printing, brochures, advertising, etc).– Finance, Accounting, Human Resources, Finance, Accounting, Human Resources,

Legal, and Information Technology.Legal, and Information Technology.– Catering of food, snacks, and birthday cakes will be Catering of food, snacks, and birthday cakes will be

outsourced initially. outsourced initially.

As the business grows, future hires will provide As the business grows, future hires will provide core competency in:core competency in:– CateringCatering– Early childhood developmentEarly childhood development– Party planningParty planning

LocationLocationWhy is the firm located here?

Ideal location based on customer demographics– Middle to high income earners

Prefer a central high traffic location– For example: near mall area

Describe geographical location of the firm:Location between Fairfield Commons and The Greene

Is your firm near a cluster of similar firms?Direct competitors not closely locatedSubstitute competitors in general location

ChuckE

Kidz PA

ConclusionsConclusions

Would We Pursue?Would We Pursue?– Low barriers to entryLow barriers to entry– Significant indirect competitionSignificant indirect competition– Difficult to differentiate serviceDifficult to differentiate service– Low switching costsLow switching costs– Lack of sustainable revenue stream outside of Lack of sustainable revenue stream outside of

birthday parties (like Libby Lu)birthday parties (like Libby Lu)– No technological or key assetsNo technological or key assets– Easily replicatedEasily replicated

Overall Feasibility ConclusionOverall Feasibility Conclusion– Determined not feasibleDetermined not feasible

Documents

Kidz Party Adventures Member Names Here. Service Feasibility Analysis Study