Unlock Electronic Signature Legitimateness for Business Plan Template in European Union

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Hello! In this video, we are going to talk about the creation of a business plan for tourism within cultural heritage. When planning how you will operate tourism on your estate, a business plan with a clear business model must be developed. The business model is the mechanism through which the company generates its profit while the business plan is a document presenting the company's strategy and expected financial performance for the years to come. The business model will depend greatly on the size of the house and the surrounding land, as well as many other factors. For instance, when the property has a specific activity related to agriculture, regional traditions, or manufacturing and industry,   the said activities can be a separate source of income, and it can sometimes be sufficient    to restore and preserve the house. This explains why some private houses involved in activities such as wine production, choose not to combine it with other touristic activities. The current slide introduces the strengths of existing business models for tourism and cultural heritage: First, the values embodied by a privately-owned heritage house, whether they are historical, cultural, social, aesthetical, or related to family or nature, can be emphasised to attract more visitors. The socio-economic values it generates can also serve as a strong basis for its business model. The diversity of privately-owned historic houses across Europe allows private owners to make use of the uniqueness of their house. And finally, the entrepreneurial ideas of younger generations of heritage homeowners can give birth to more innovative models. As said before, these strengths can vary ing to the size of the property, its location, its history, the size of its staff, the weather conditions as well as the other activities conducted on the property. This slide shows examples of activities that you can organise depending on the strengths and features of your property. Revenues can be generated by a variety of activities within a private historic house. The most common ones are often related to site visits, accommodation, and dining services, as well as rental services for private or public events. Once the various strengths or “pillars” of the business model have been identified, one must consider several building blocks to ensure the success and durability of its business plan: How does your historic house contribute to the cultural, social, and economic thriving of the surrounding community?  How can it bring the community together? What makes your historic house distinctive from other heritage homes, and how does storytelling facilitate and improve the transmission of knowledge to your visitors? How can your historic home contribute to the overall well-being of the community?  Have you built a strong network at regional, national, and European levels, and do you share your experience and best practices with other owners? Do you have the necessary digital tools to keep up with the evolving means of communication and promotion? How much do you invest in customer relationship management? Do you diversify your activities and approaches in your historic house to help you ensure its financial security? Do you invest in its long-term environmental, social, cultural, and economic sustainability? And to conclude this submodule, here are two different business strategies that are very common among business models for heritage sites. Operational excellence is a strategy encouraging the participation of local volunteers and third parties in the activities of your heritage home. It also uses storytelling as a marketing instrument. Product leadership consists in looking for local suppliers who can offer the best products for your business model. It uses storytelling as a side product, through the creation of quality books and leaflets. This is the most common strategy, as it results in a higher number of visitors willing to pay a higher amount of money for your products and activities. With that, we end this video. We hope you enjoyed it. See you in the next one!