Essays on Blue Water Yacht Management, Incorporated Strategic Plan

Company Summary
The company is owned by William Blacketer and Sherrie Sheehan and will be funded by an initial personal investment. Blue Water Yacht Management, Incorporated is Florida state registered S corporation.

Bill and Sherrie are working with a small business attorney to set up incorporation. Sherrie is working with a graphic designer to create a company logo, letterhead, and business cards.
Rent on the location will be $1,200 per month. In addition, workman’s compensation insurance for the business will be approximately $512 per month and will be paid by direct debit on a monthly basis. Expensed equipment includes 2 high-power buffers, one vacuum cleaner, fax machine, and three computer terminals. All of the equipment will be depreciated over three years.
If a customer needs to schedule services, to talk to the management, or to one of the captains, the best suited channels for a customer to contact the company would be to call or visit the office directly, or by sending an e-mail to management. Most of the management and captains can be reached on their personal cell phones 24 hours a day. There will always be someone available to help the customers.

Blue Water Yacht Management Incorporated is a mobile service so there will never be a problem for a customer to have his or her boat or yacht serviced regardless where it is located such as behind a customer’s home, or a marina. Blue Water Yacht Management offers a standard yacht detailing contract available on request. The standard yachting detailing contract can be modified to each individual owner’s specific requirements. There will never be any unpleasant financial surprises because all boat and yacht owners will know exactly what services their boat or yacht will be receiving and how much it will cost them. Most of the work done on a boat or yacht is done in-house by the company’s own experts, which for the customer results in lower contract prices and better quality control.

The company has employees on staff that specializes in detailing and maintenance for all boats whether docked at a marina or behind a customer’s home. The company will also contract a boat/yacht mechanic that can perform simple to complex mechanical repairs on-site on behalf of their customers. They also have two licensed captains, and crew members available for owners to use. The captains and crew at Blue Water Yacht Management, Incorporated have extensive traveling experience all through the Bahamas Islands, the United States Virgin Islands, British Virgin Islands, Leeward Islands, Turks and Caicos, Exumas, Abacos Islands, the East Coast of the United States, and in the South American country of Peru. Because some boat owners are not familiar with the Bahamas and want to take a family vacation there on their boat or yacht, the company provides the service of organizing and scheduling a customer’s family vacation along with a captain if the boat owner requests one. If a customer just wants to spend an afternoon on his or her boat cruising on the Intercostals Waterway, and stopping for lunch or dinner, the company will take care of making reservations for the customer, and provide a captain if the boat owner requests one.

The company offers yearly budgets for managed yachts on request. These budgets are determined using specific vessel operating information, and experience from years of chartering. An assessment of each project done on a boat or yacht will result in a fair estimate of yearly costs. Despite that Blue Water Yacht Management is competitive with their prices; the company is every so often priced a little higher than their competitors. This is on the basis that the company stands behind their high-quality of work.

Environmental Analysis
External Environment
Remote
Economic
The management team at Blue Water Yacht Management envisions the external factors affecting the company, anticipating the forthcoming market condition, and makes the appropriate business decisions to obtain the maximum with minimize cost.
Social
Sociological factors such as costs structure, customs and conventions, cultural heritage, view toward wealth and income, and mobility of labor have far-reaching results on a business. For instance, the nature of goods and services to be produced depends upon the demand of the people who in turn is affected by their attitudes, customs, and so as cultural values. The clients of Blue Water Yacht Management are of a high status. These are the people who have the money to buy and hire a yacht management company to maintain their million dollar yacht.
Political
As the majority of charterers and owners are American, the foreign policy politics affects how much they travel and also the economy so it indirectly affects the industry. Economic and financial issues derive from politics, which translates to disposable income and the degree and use of resources allocated to vessel use and maintenance.

Technological
Blue Water Yacht Management is greatly influenced by the technological development. In the yachting industry there are new products and equipment that makes yacht maintenance, and travelling by boat easier. For example, the GPS systems on a yacht offer more today than they did several years ago and are much easier to operate. XM satellite/radio weather forecast offers safer travel on the water. A captain can predict the weather more efficiently.
Ecological
Whereas most boaters are conscientious of the environment, the standard marine toilet installed on many vessels can harm the delicate aquatic ecosystem. Vessel sewage threatens the ecological integrity of the water that poses a threat to those who live and recreate on or near the water. This is why Blue Water Yacht Management uses a biodegradable enzyme that breaks down the raw sewage and toilet paper. This process simply allows proper discharge of waste over the side of the boat.
Industry
Entry Barriers
A Yacht Management Company has no barriers to entry in the Yacht Management Industry. The only naturally occurring barriers to entry could be competition with other yacht management companies, starting a new client base.
Supplier Power
The fewer the supplier choices a business has the more a business need suppliers’ help, and the more powerful suppliers are. In the yacht industry there are several suppliers, and these companies are constantly competitive with one another. Therefore, the prices are fairly reasonable, and Blue Water Yacht Management does not have to purchase parts and supplies from one supplier.