Feasibility Study on Childrens Entertainment Centre

Feasibility Study on Childrens Entertainment Centre Background Information As a leading commercial hub, Dubai is bulging with vast world-class business opportunities that have enabled it to become a major business attraction for both established and upcoming entrepreneurs in the world.Advertising We will write a custom report sample on Feasibility Study on Children’s Entertainment Centre specifically for you for only $16.05 $11/page Learn More As a matter of fact, the UAE business centre provides vast business opportunities to both local and foreign investors planning to invest in the UAE region (Marchal 2005). As a result of its strong economical platform, the centre enjoys all the advantages that come with highly developed economies around the world. The centre is also known for its well ordered business climate that offers entrepreneurs attractive environments to conduct their businesses. Among other key developments, Dubai enjoys a sophisticated financial sector, modern telecommunications, first cl ass hospitality facilities, highly developed transport and communication infrastructure, and reliable power utilities (Michael et al. 2011). All these opportunities have continued to play a significant role in facilitating quality and efficiency business activities in the UAE region, thus making Dubai a pro-business environment. Based on these reasons, Dubai has emerged as a key business attraction for many investors planning to do business in the Middle East. For the purpose of exposing the vast business opportunities that can be found in Dubai, this paper provides a business strategy guide for an organization that plans to establish a shopping mall in the region. In this regard, I have been hired together with other four people to serve as strategic consultants for the company in its investment plan. Each one of us is expected to handle a specific component of the feasibility study and I am responsible for the kids’ entertainment zone that will feature a Franchise Lego.Adve rtising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This paper will address four key elements of feasibility study in regard with my choice of brand. The four elements are brand analysis and choice, market analysis and segmentation, operating model, and performance measures. Brand Analysis and Choice As it would be observed, entertainment zones for both adults and children in malls are emerging as hotspots for many people across the world today (Keivani, Parsa Younis 2003). These zones provide all sorts of entertainment to different categories of people visiting the malls for various reasons. There is no doubt that children entertainment zones feed off the traffic in the shopping malls and vice versa, thus serving as key attraction for different types of consumers visiting the malls (El-Adly 2007). In this regard, indoor entertainment and gaming for young children act as crowd pullers for other businesses in the malls. This clearly explains the reason why most mall developers have turned to entertainment zones currently. The idea of building malls with entertainment zones for young children has been taking place in many developed countries across the world, and Dubai has now embraced the trend in its development plans (Rashid 2007). The business centre in the UAE has been placing considerable focus on indoor entertainment zones as a core requirement that should be integrated in their state-of-the-art architectural designs and plans (Rehman 2008). As a matter of fact, mall developers in the region will rarely erect a modern business premise without including a one-stop entertainment and recreation zone for children. The brand chosen for this assignment is a Kid’s entertainment zone that will form part of the new shopping mall. As a leading business hub in the world, Dubai offers a wide range of entertainment for all categories of people in the family, inclu ding children and toddlers (Hill Jain 2007).Advertising We will write a custom report sample on Feasibility Study on Children’s Entertainment Centre specifically for you for only $16.05 $11/page Learn More Business investors in Dubai understand the many benefits associated with leisure for kids, thus ensuring there are as many modern children entertainment zones as possible to cater for the needs of the young ones in the society. As it would be observed, children in Dubai enjoy all kinds of indoor funfair from various places of interest in the region, with malls forming the largest part of the zones offering these services (Duane Webb 2007). Apart from fun, these entertainment zones also provide excellent and unique children educational activities to the participants in a more engaging manner, thus helping them to master important lessons that will see them through the initial developmental stages of life. Entertainment and gaming for young childre n is gaining much popularity in Dubai nowadays, probably as a result of the many benefits associated with the trend. As a matter of fact, this popularity has attracted the interest of many entrepreneurs planning to invest in the region, who have been setting up entertainment zones in malls and other strategic points of the city (Ong 2011). The choice for the children entertainment centre is an indoor Franchise Lego land that would comprise of various kid activities. Here, toddlers will have access of all activities meant to amuse children of all ages. Among the main areas that will make up the centre is an indoor soft play area where activities such as amusement riding, biking, and driving can take place. There will also a bowling alley and a video game arcade that would feature both motion-gaming and console-gaming.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The facility will also feature a Baby Gym nursery that will enable kids to enjoy maximum fitness from various play materials, a First Aid kid clinic to take care of minor injuries resulting from careless play, and a children’s bookstore from where the youngsters can practice reading. All these gaming activities will provide children with a unique and fascinating learning experience in a number of ways (Grodal 2000). For example, this will enable the kids establish their individual as well as social identities that are essential for perfect child development. Moreover, the activities will play a key role in enhancing the thought processes of the participants, thus stimulating their desire to experience and seek knowledge. Market Analysis and Segmentation We are living in a changing world, and it is therefore important for modern day investors to be familiar with all the aspects that would tend to influence the trends of consumers and competitors so as to maximize their busines s operations in the market. As it would be observed, the gaming and entertainment industry is at its top stage currently, and this provides great business opportunities for the investors in the field. Investment in the gaming and entertainment sector has become a norm for many developing and developed countries in the world, considering the vast economical benefits associated with the trend. As a leading international business centre, Dubai has been making substantial efforts to match other developed regions of the world in providing business opportunities to the people in the industry by promoting the idea of children entertainment centres in malls (Saxena 2011). Just like any other business, Franchise of children’s activity is fetching a lot of income for the investors taking place in the field within the UAE’s business centre. The trend of gaming and entertainment for kids is gripping in Dubai as a result of the centre’s outstanding status as a global busines s hub as well as a pros of additional services may include things such as recreational services, birthday parties, and special treatment for kids. Charges may also vary depending on the nature of the services offered. For example, supervised children engagement in the centre whereby the kids are accompanied by their parents or guardians will not cost the same as unsupervised engagements where a staff aligned to the centre is given the responsibility to take care of the children. Obviously, charges for the latter should be a bit higher compared to the ones in those scenarios where children play under the watch of their parents or guardians. More importantly, the children entertainment centre should operate on both peak and off-peak costs based on the days of operation. There is no doubt that the business will tend to attract varied numbers of customers on different times. For instance, while the number of children visiting the centre may remain constant during weekdays, it is likely to go up on weekends and during public holidays when most parents are free to take their children out for leisure. As it would be observed, the price of commodities and services in the market depends on a number of variables (Mellahi, Demirbag Riddle 2011). For example, the price for both commodities and services are likely to rise when demand increases and fall when the demand falls. On the same note, the cost of charges for different gaming programs in the entertainment centre should be a bit higher on weekends and during public holidays when the number of visitors is high, compared to the weekdays when the number is down. Performance Measures The children entertainment centre should adopt various performance measures that would enable it survive in today’s competitive business environment. There is no doubt that every business in today’s business world is focused on utilizing all available resources to stay ahead of competitors in the market. While offering excelle nt services to customers is likely to offer a strong competitive advantage to the gaming and entertainment business, doing things in a different manner will steer the business to greater heights in the market. This objective can be attained through the provision of gaming concepts that appeal most to children during this era of modern technological advancements. More importantly, the provision of a wide array of customizable entertainment experiences that comprise of friendly and intuitive playing options will play a crucial role in enhancing the performance of the business (Voelpel, Leibold Tekie 2004). Another way through which the business can operate differently and stabilize itself in the market is by offering its entertainment services for children at a lowered cost. This objective can be achieved by offering gaming services at a cost slightly lower than the ones provided by competitors in the market. There are various approaches that can be used to measure the performance of businesses to determine whether they are making a progress in the market (Kochan et al. 2003). For instance, the management of the children entertainment centre can apply the observation method to read the facial expressions of the customers and try to determine their perceptions about the services they have received. This approach can also be used to assess people’s satisfaction based on how frequent they visit the centre. The business can also supply customers and clients with survey templates which they can fill up and return to the company expressing their views about the services their children have received from the entertainment centre. Brief oral interviews can also be carried out randomly on parents to determine their views and suggestions on the services provided. All these interventions will play a significant role in helping the business achieve great success in the UAE business centre. 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