Red Pack Beach Lockers Answers

How should a business plan be structured and what should it include?

Business plan is a document which portrays another business, product and services, its objectives

and plans for contacting them. The structure of business plan ought to have-

(a) Overview of business idea,

(b) Plan to accomplish the destinations,

(c) Management team and possession structure,

(d) Product and services,

(e) Marketing system,

Why did professors consider RedPack’s business plan to be so good?

The professors thought of it as interesting because it was meant to solve an existing problem

which is the lasck of safety for tourists.

What are, in your opinion, the pros & cons of business planning?

The business plan helps with deciding the sort of spending that ought to be set up, the stock that

to be held, and the assurance of the accessibility of the assets expected to maintain the business.

Business planning is likewise crucial for getting a credit extension from financial foundations.

The cons of business planning are fluctuated. For example, the financial projections may be off

base, which can influence the long haul vision of the business. On the other hand, amid the

planning procedure, the business planners can invest a lot of energy in breaking down various
parts of the business. In such cases, the planners may float off from the primary goal of the

business plan. The other burden of business planning is the likelihood of making a domain that

supports false assurance.

How did RedPack’s business plan evolve over time?

At first, RedPack's business plan was centered around renting out lockers inside shoreline bars,

where clients visiting the shoreline could store their things. The RedPack team set aside a lot of

effort to review and refresh their business plan as they enhanced into various markets, for

example, the Portuguese market and the music celebrations markets.

Do you think that business planning was important for RedPack? Would you continue to

work on the business plan if you were they?

Surely, RedPack is a holding nothing back, bother free proposition for bar proprietors since it

deals with the forthright installment, support, devaluation and protection, while the renting

framework enables them to fence against regularity. All the more critically, RedPack enables the

bar proprietors to produce additional incomes. For €2 every day, shoreline clients get a

successful keyless arrangement that amplifies accommodation; while being astonished by an

unexpected box involvement.

Which aspects are, in your view, the most important in RedPack’s latest development? Can

you sketch an outline of an updated version of business plan for RedPack?

The business of renting out lockers at music celebrations looked most encouraging: The team

was even given open doors for global expansion, which they never longed for occurring so

rapidly – even before the company took off.