Best Projects 2018 features all the nominated entries submitted to the Youth Citizen Entrepreneurship Competition under ‘Submit your Project’ category. All the entries consist of innovative projects run by existing enterprises in the form of businesses, NGOs or informal programs. If you want to know the 10 finalists in this category click HERE
Explain your project in details:
The water-park will provide water experience that has never been seen locally and the properties that will be built next to it will be the ideal home for every child. It will be modern apartment, with a pool and play area. The hall will be able to cater for events such as weddings, awards etc. Royalty aims at providing an island in the country. The water park will provide both passive entertainment (lounging and floating) while the pro-active more aerobic customer will receive an exhilarating experience from climbing the hills that service the waterslides and swimming in the pools. Royalty promises to create opportunities and socio imbalance in terms of: Stimulating infrastructure, social, financial and economic development in Pretoria and Mpumalanga district. Job creation, Implementing innovative Green Technology, Creating an improvement in the overall quality of life within the area through the creation of a well-planned family entertainment destination , Having a direct impact on the property industry relating to increasing the value of properties within the surrounding, Youth development(Internships etc,), Increasing tourism attraction. Royalty’s water-park uniqueness will be obtained by incorporating a tropical and cultural theme, giving a sense of freshness and liberty. Next to each slide they will be a painting displaying a different culture of our beautiful country for instance Ndebele culture with its rich colours. Furthermore the tile will have quick fun facts about the culture. This will have an educational purpose to it, especially for the tourists. Benefit to the user: Ideally for that family outing, it guarantees that smile on everyone’s face. Perfect for staff development or end year function. Perfect water exercise. Bringing healthy fun to the community at large.
Impact of your enterprise on sustainable development
We have conducted a sustainability/ feasibility study to determine the economic viability of the project in 2017. Our study was focused on the competition, the latest technology, marketing, operational issues, hospitality and property management industry. Based on our study we were able to apply for funding via department of Trade and Industry (DTI) of which we were granted R350 000 worth of Equipment for our restaurant. Strategic Initiatives Royalty will focus on the following strategic initiatives to achieve its growth goals: Provide the finest water park incorporating the newest and most unique water attractions available for Parks. Obtain and maintain for the first five years R 25 804 469, 60 -R 195 215 362, 91 in gross sales without sacrificing profitability and remaining consistent with the availability of working capital. Obtain and maintain the highest standard of service in the hospitality/ entertainment industry. Contribute to the increase of tourism in the Gauteng and Mpumalanga district , in relation to that making the city desirable to live in which will have direct impact to the population growth in the city and resulting in significant increase in the sales. Will also increase the residential properties based on the demand and also incorporate commercial properties. Brand Strategy Royalty will be focusing mostly on creating strong brand awareness by coming up with cost effective marketing strategies. Implementing strategies to increase our market growth and ensuring that we retain our current customer base. Branding focus will be on: 1. Perfect family outing –all ages. 2. Ideal place for hosting events-Weddings, parties, conferences and meetings. 3. Ideal accommodation –renting and weekend getaway. 4. Ideal staff development place . Socio-Economic benefit Royalty will be beneficial to the economy at large, it’s set to employ at least 84 employees at its first year.
Sustainability and future plans
Business Model The Market Opportunity Royalty will take full advantage of being the biggest waterpark in the Mpumalanga and Gauteng. In Mpumalanga it will be the second recognised waterpark once established. Royalty Waterpark will be uniquely designed incorporating nature and culture. It will also be perfect for a weekend getaway, providing accommodation and restaurants to choose from. Over and above our hall will be perfect for that work function or party even a wedding giving you a spectacle view of the waterpark. TARGET Market The Water Park will be attractive to families, young adults, businesses, schools and other groups. Royalty will charge an admission fee based on the age of the individuals ranging from R50.00-R100.00. Royalty has designed packages for schools and other public benefit organisations, they will receive a discount on their tickets. LOCATION The Company will purchase land from the municipality of Mpumalanga . MARKETING tools The Company will utilise a vase number of marketing tools: Newspaper advertisement, radio, TV, direct mail referral, brochures, gift passes, Internet and more. Services and Products Royalty Waterpark will provide a variety of water park activities. These include: Lounging areas Lazy River Ride Inner Tube Floating Wave Pool Picnic areas Volleyball sand courts Accommodation Growth Opportunity The Company believes that it can attain significant growth over the next few years. In succeeding years, growth rates will range from 45% to 75% annually. Growth will come as the water park executes its marketing programs and builds awareness within the surrounding areas. Financial Need and Use of Funds The Company is seeking monetary funding worth R50 million from Banks, Investors to execute this business plan. Royalty will use these funds to develop and build out the water park (inclusive of fast food restaurants), Hall and residential properties.
Your profile as an entrepreneur
Invoice tenants and pay owners/suppliers in a timely manner. Ensure that receivables are collected promptly. Conduct a monthly reconciliation of every bank account. Assisting with moving in and out inspection. Maintain the petty cash fund. Assisting in signing mandates and leases. Advising owners with pricing of monthly rental for properties. Prepare financial statements including assessments of control and other compliance measures. Maintain an orderly accounting filing system. Provide clerical and administrative support to management as requested. Ensure compliance with internal finance and accounting policies and procedures, and embed best practice.