A friend of yours (Bob) has asked you for help. He plans on starting a business. He wants to offer tourists visiting Ireland guided tours around Dublin City, but he has no idea what to do or where to start nor does he have any idea what to call the business. Bob is certain that he doesn’t want a partner and wants to do this on his own. Bob has been to the bank to discuss opening a business bank account and applying for a loan. The Bank Manager has advised Bob to put together a Business Plan for the business. The problem is Bob has no idea what a business plan is. Bob is also unsure of the size of the tourism market in Ireland and whether it would be a good idea to start a business offering specialist tour guides. You have offered to help. You are required to: 

1. Describe the business types that you believe would be most suitable for Bob. Recommend one and then outline the advantages/disadvantages and the registration procedure to ensure it complies with any legal requirements. 

2. You must also explain to Bob what a Business Plan is, what it is for, and, in relation to starting a business offering specialist tour guides in Dublin City, what should be included in the business plan. (You don’t need to actually draft a business plan for Bob). 

3. You must conduct research on the Irish tourism market outlining its growth, numbers of people involved, and the value to the Irish economy. 

4. Finally, in your conclusion you must state whether you feel it is a good decision for Bob to start a specialist tour guide business. You must also support your conclusion with reasons why.

Answer rating: 100% (QA)

1 Business types that might be suitable for Bob include a pet boarding facility forex business and a travel agency The business ideas are viable becau... View the full answer