Question

Use this scenario "How to turn a movie theater into a hotel franchise." Create of a operations plan that shows how the product or service will be delivered

Answer 1

Answer:

An operational plan means a plan that is formulated by a business before starting its operations to jot down the basic blueprint of its day to day operations. Before starting any business planning and forecasting is very important so that the business may be made successful and profitable so there is a need of an operational plan so that all the operations may be made functional smoothly.

Taking into consideration the scenario "How to turn a movie theater into a hotel franchise", an operational plan may be formulated before doing so to show how the product and service will be delivered. Following may be the points to consider while creating an operational plan for the above-mentioned scenario:-

1) Feasibility status:- Feasibility of conversion of theater into hotel franchisee should be evaluated whether it is legally possible to do so or not. After ascertaining the feasibility further steps may be planned.

2) Fulfillment of minimum requirements for hotel franchise:- It must be checked that whether minimum requirements as required by the franchisee are fulfilled by the area/facilities available or not.

3) Conversion Cost:- Conversion cost from movie theatre to hotel franchisee should be analyzed. Accordingly, the finance may be planned and availability of funds may be taken care of.

4) Forecasting future cash flows:- Future cash flows may be forecasted to analyze that whether the investment (conversion cost and other expenses) will reap enough benefit and the project is worth investing or not.

5) Staff requirement:- Staff requirements should be anticipated and availability of the same must be assured as it is one of the important and basic elements to run a hotel.

6) Procurement :- Food and beverages are the basic elements required to run a hotel. Availability, procurement, and storage cost of the same must be ascertained properly so that opertions may be made to run smoothly.

7) Assurance of quality service:- Delivery of quality service should be ensured in the operational plan according to the preference and expectations of the customers. This should be one of the focus areas in the operational plan.

8) Equipment and furniture:- Proper maintenance of the equipment and furniture should be assured to provide uninterrupted service to the customers. A proper mechanism for the same should be prepared to ensure it.

There may be several other points that may be added to the operational plan according to various statutory regulations/requirements of the state and the policies of the franchisee.