BSBRSK501B Manage Risk

Formative Assessments

Activity 5

(1).
SWOT Analysis
Strength
1.Australian chain of upscale mid to high range departmental store
2.Myer has stores in all Australian states and the Australian Capital Territory
3.Variety of brands in affordable price gives consumer a lot of choices
4. Strong brand presence and reputation in Australia
5. Customer-focused service
Weakness
1. Undeveloped distribution channel which serves only in some locations in Australia
2.Retail area prices are increasing still it has inadequate usage of area in showroom
3.Target consumers are present only in Australia and no global presence
Opportunity
1.Foreign players are dominating retail sector so opportunity to tie up with these players …show more content…

It is possible to run a boat rental business without having docks, but having dock space and slips to store your rentals in will let you offer a one-stop location to customers. Even if some of the boats are going to be dry-docked, having water space and a dock to launch from will make your business easier.

Buy the boats. Once you have determined the type of boat you will rent, purchase as many as you want to use. The cost of boats can be high, so you may want to start with a small fleet and then build on it as your business increases.

Select services to offer. You can offer only boat rentals or you can offer water guides to accompany the boats. Price your packages according to the level of services you are providing. Decide whether to rent the boats by the hour, all day or for a week at a time. A combination of all choices will bring you a wider variety of customers.

Get insured. Boat rentals carry a risk. People who go out on the water can get hurt or even killed. Make sure you have secured adequate insurance through a broker familiar with boat policies and business ownership.

Get your business license from city hall before opening your business. Plan a grand opening for approximately a month after your opening day to work the kinks out before the grand opening.

Offer boating safety courses to adults, children and families. Scout troops, senior citizen groups and others can sign up for a weekend class. The first day your instructor can teach them how