University of Economics, Prague

Faculty of Business Administration

International management

Developing a business plan for Ski School Jasn

Analysis of the Business Proposition

Author:

Jana Dubovsk

Supervisor:

Mgr. Ing. Martin Luke, Ph.D.

Declaration

of

Authenticity

I hereby declare that the Masters Thesis presented herein is my own

work, or fully and specifically acknowledged wherever adapted from
other sources. This work has not been published or submitted
elsewhere for the requirement of a degree programme.

Prague, May 21, 2014

2

Acknowledgements

I would like to thank to Mgr. Ing. Martin Luke, Ph.D. for his guidance and
valuable remarks throughout the thesis preparation.
Also, I would like to thank to all participants of the surveys as well as to friends
and family for sharing their time, experience, and knowledge with me.

Title of the Masters Thesis:

Developing a business plan for Ski School Jasn
Abstract:
The Masters Thesis analyses and evaluates the conditions for the development of Ski &
Snowboard School Lky in the Jasn Nzke Tatry ski resort as well as it illustrates specific steps
and actions in a realistic business plan. Firstly, it introduces theoretical background of feasibility
analysis, business model, and the business plan focusing on the importance and structure of each
topic. Secondly, the thesis portrays the results of an empirical research conducted on the target
audience that are together with the market analyses integrated into the business plan. At last, the
business plan proposes marketing and financial projections that lead into final conclusion and
recommendations for the business development.

Key words:
Business Model, Business Plan, Ski & Snowboard School Lky, Jasn Nzke Tatry ski resort

Table of Content
1. Introduction ............................................................................................................................... 7
1.1. Motivation and Background .............................................................................................. 8
1.1. Objectives of the Thesis ....................................................................................................

1.2. Structure of the Thesis ....................................................................................................... 9

2.

Theoretical Framework ........................................................................................................... 10

2.1.

2.1.1.

Market Feasibility ...................................................................................................10

2.1.2.

Managerial Feasibility ............................................................................................ 11

2.1.3.

Technical Feasibility ............................................................................................... 11

2.1.4.

Financial Feasibility................................................................................................ 11

2.1.5.

Feasibility Study vs. Business Plan ........................................................................ 12

2.2.

Business Model ................................................................................................................13

2.2.1.

What is a Business Model? .....................................................................................13

2.2.2.

Different views on Business Models ......................................................................16

2.2.3.

Business Model Generation ....................................................................................20

2.3.

3.

Feasibility Analysis .........................................................................................................10

Business Plan ...................................................................................................................25

2.3.1.

Purpose and Principles of the Business Plan .......................................................... 25

2.3.2.

Structure of the Business Plan ................................................................................26

Practical Part ........................................................................................................................... 33

3.1.

Empirical Research ..........................................................................................................33

3.1.1.

Research Goals .......................................................................................................33

3.1.2.

Sample of respondents ............................................................................................34

3.1.3.

Research Methods ...................................................................................................35

3.1.4.

Research Conclusions .............................................................................................36

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3.1.5.
3.1.6.

Research Implications .............................................................................................42

Research Limitations ..............................................................................................43

3.2.

Feasibility Study ..............................................................................................................44

3.3.

Business Model Canvas ...................................................................................................44

3.4.

Business Plan ...................................................................................................................46

3.4.1.

Executive Summary ................................................................................................46

3.4.2.

Company Description .............................................................................................47

3.4.3.

Market Analysis ......................................................................................................48

3.4.4.

Product & Service ...................................................................................................54

3.4.5.

Organization and Management ...............................................................................60

3.4.6.

Marketing and Sales ...............................................................................................62

3.4.7.

Implementation Plan ...............................................................................................65

3.4.8.

Financial Plan .........................................................................................................67

3.4.9.

Risk Analysis ..........................................................................................................74

3.4.10.

Exit Options ............................................................................................................75

4. Conclusions .............................................................................................................................76
Table of Figures ............................................................................................................................. 78
References ...................................................................................................................................... 79
Appendix ........................................................................................................................................

84

1. Introduction
Starting a new business venture is like going into a tropical forest on a treasure hunt. There are
rewards to be won, in both material wealth and in personal satisfaction, but there are dangers
lurking and you can easily lose your way (Blackwell, 2008, Abstract).
New business ventures are being created every day by hundreds of people with the aim of
forming something new and unique, improving the old, or directly capitalizing on the resources
available. Some succeed but also, many do not. However, importantly, it is not only the aim and
result that matters; it is the way and journey of reaching the goal. The business creation and
development is a rewarding process as an entrepreneur has to make the most of all his strength,
knowledge, and contacts while learning a lot and exploring the opportunities continuously. In that
way, potential success is even more satisfying.
New business venture creation is a core part of this Masters Thesis as it explores this idea firstly
through the main and indispensable theoretical techniques such as feasibility analysis, business
model, and a business plan so that consequently it could illustrate a real business idea as well as
the process and individual steps behind its creation.

1.1. Motivation and Background

I decided to write my Masters Thesis as a business plan for more than a few reasons. To begin
with, I can see the opportunity and market space for developing a new business, in particular ski
& snowboard school in the Jasn Nzke Tatry ski resort. Jasn ski resort is the closest ski resort,
approximately 20 km, to the town of Liptovsk Mikul where I grew up. For years, as a local, I
have been able to watch the environment and its people; tourists as well as the development,
upgrade, and both small and large scale changes. Secondly, I and my family have always been
fond of sports and above all skiing: my dad is an alpine race coach, my sister is a part of the
Alpine National Team and I have been a ski instructor since I was 16 years old. Therefore, I
believe that with proper supporting sources I am able to assess the situation on the market, need
for a new venture and convey matching skills to develop a new business.
Additionally, entrepreneurship and innovation, creating a value out of a mere idea, building a
new venture from a scratch is a fascinating process. Most of the time, entrepreneurs rely on their
own knowledge, abilities, and network they have built around themselves while facing many
risks but working constantly to achieve what once used to be only a dream. Entrepreneurship
does not end with creating a business but it involves managing and growing it too. Entrepreneurs
cannot lack creativity, innovativeness and determination; and I believe that despite the fact that
the entrepreneurial process involves hard work it also brings fun and many opportunities for the
future.

1.1.Objectives of the Thesis

The key objective of the Masters Thesis is to evaluate the business potential and the investment
attractiveness of opening new ski & snowboard school in the Jasn Nzke Tatry ski resort and to
research and analyze whether the venture would succeed at a current competition level. The goals
of the empirical research are to recognize customers preferences and their needs, and
consequently identify the success factors for opening new ski & snowboard school in the area.
Providing a real potential in the market, the business plan would serve as thorough guidelines for
the venture launch.

1.2. Structure of the Thesis

The Masters Thesis is divided into four main parts: Introduction, Theoretical and Practical Part,
and Conclusions.
The Introduction explains the motivation and background for writing the thesis as well as defines
its goals and objectives. Theoretical Framework describes theory behind feasibility analysis and
business plan, primarily its purpose, principles, and structure. The main part however, introduces
the topic of business models and portrays in detail different views on business models together
with business model canvas. The Practical Part consists of the empirical research, its goals,
methods, samples, and conclusions. Furthermore, it practically depicts the feasibility analysis,
business model canvas and concrete business plan that summarizes the market situation,
organization and implementation plan as well as financial and risk analysis. The Conclusions will
review all information in the Masters Thesis and assess whether the venture should be
implemented in a real life.

2. Theoretical Framework
As outlined above, the theoretical framework explains the theory behind the feasibility analysis,
business model and different views on it, and it is concluded with the business plan theory.

2.1. Feasibility Analysis

Prior to starting any business or writing a business plan a so-called feasibility analysis should be
performed. Feasibility analysis shows a potential of the business as it is an investigation into a
proposed plan or project to determine whether and how it can be successfully and profitably
carried out (QFinance, 2009). Hence, feasibility study elaborates on the viability of the business
and answers the question Will the business work? According to the Oprea (2010, p. 58),
feasibility analysis addresses the question of whether a planned course of action is likely to
achieve individual or enterprise objectives, given the available resources and specific
constraints. As in many cases a feasibility analysis results into a feasibility plan, Entrepreneur
Resource Centre defines feasibility plan as the process of determining the viability of a business
concept by exploring the demand, size, and profitability of the proposed market, the availability
of funding sources, and by making sure that the business and the personal criteria of the
entrepreneur are a good match (Thompson, 2005, p. 2). Consequently, a feasibility analysis
looks at the most important parts of the potential business and assesses whether it is realistic and
possible to succeed in pursuing the initial business idea. In most of the times, the essential parts
to be analyzed are the market, the people, technology, and finance.
2.1.1. Market Feasibility
Market feasibility study looks at the industry as a whole, existing competition, and potential
customers. According to Moyes & Lawrence (2003), market feasibility analysis also illustrates
the market opportunity, favorable trends for the venture, and situation on the market and in the
industry and whether it is growing or not. It estimates the market potential in financial terms,
number of customers, as well as unit sales. It describes the market structure and gives answers to
questions such as:
Is the market fragmented or dominated by large players?
What channels exist and are they accessible?
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Are there barriers to entry?

Besides, it researches whether there is a strong require for the product or service and what
difficulty it resolves, meaning it identifies customer needs too. Nevertheless, a crucial part of the
market feasibility is also a competition check and its strategy, pricing, marketing, and customers
(Luke, 2013). To summarize, market feasibility defines whether the company is able to compete
on the market or not.
2.1.2. Managerial Feasibility
People and human resources form a vital part of any activity, business, or company. Talented,
skilled, and dedicated people who are able to commit, develop, start, and manage the businesses
are needed at all times and are crucial to a further success and profitability of the projects.
Managerial competence and efficient management together with knowledge are elements without
which even a technical and financially feasible business would fail and hence, all of these need to
be narrowed down before starting setting up a business. Managerial feasibility is a performance
check of the right people.
2.1.3. Technical Feasibility
Technical Feasibility Study provides technical information about the product or service in
specific but still for broad public understandable terms. It also evaluates the particulars of
transporting a product or service to a customer, for example: materials, labor, transportation and
shipping, business location, and technology needed (Wolfe, n.d.) as well as it must hold up to
the financial information and show that the management is really able to achieve opening of the
business.
2.1.4. Financial Feasibility
Establishing a financially non-feasible business would not make sense and therefore, preparing a
financial part of feasibility study and figuring out whether the business idea is able to generate
funds to implement it is rather crucial. Financial feasibility should include sales estimates based
or industry data, similar business in similar location, sales of existing competitors adapted to

11

realistic numbers of customers, determination of capital requirements and financing options, cost
and break-even analysis, and cash-flow forecasting (SmallBizConnect, n.d.; Luke, 2013).
2.1.5. Feasibility Study vs. Business Plan
Roles of feasibility study and business plan are different mainly for two reasons. Feasibility study
has an investigating function and provides answers to the questions whether the business is viable
or not. It is carried out before the business plan and it analyzes several alternatives. Consequently,
it identifies the best one and that becomes the basis for the business plan. On the other hand,
business plan has a planning function and it outlines actions for the proposal to go from idea to
reality. Business plan is written after the business idea has been proven viable, it evaluates only
one alternative or scenario and it provides a roadmap on how to create and develop the business.
(Hofstrand & Holz-Clause, 2013).

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2.2. Business Model

Similarly to performing feasibility study, also designing a business model prior to starting a
business is crucial as every viable organization is built on a sound business model (Magretta,
2002, pp. 87) and therefore, its concept is analyzed also in this Masters Thesis that is focusing
on a new business development. As Casadesus-Masanell & Ricart (2011) write, the future pursuit
for sustainable competitive advantage commences with the business model. Furthermore,
Alexander Osterwalder, entrepreneur and business model innovator once said, business plan is a
waste of time, burn it. Plans are worthless but planning is essential (Osterwalder, 2012). This is
a sentence that most of the business owners do not attend to as for years business plan has been
perceived as the fundamental part of the business planning. Article in the Harvard Business
Review called How to write a great business plan concurs to the idea of Osterwalder as it says
that business plans should include some numbers and that those numbers should appear mainly
in the form of a business model that shows the entrepreneurial team has thought through the key
drivers of the ventures success or failure (Sahlman, 2011, p. 1).
As a result, the following chapter of the Masters Thesis will analyze the theory behind the
business models. It will define the business model term, introduce different viewpoints on the
business model including exploring the business model generation outlook as well as ultimately,
it will include some recommendations aka best approach to designing the business model for a
small organization.
2.2.1. What is a Business Model?
Business model does not have one precise definition; instead there are many that define the idea.
Initially, it is defined as a conceptual tool containing a set of objects, concepts and their
relationships with the objective to express the business logic of a specific firm. Therefore,
concepts and relationships allowing a simplified description and representation of what value is
provided to customers, how this is done and with which financial consequences must be
considered (Ostenwalder, Pigneur, Tucci, 2005). Furthermore, Joan Magretta says that the
business model is a story that explains how an enterprise works (), Peter Drucker describes it
as answers to the questions: who is your customer, what does the customer value, and how do
you deliver value at an appropriate cost? (), and Clay Christensen illustrates that the business
13

model consists of four elements: a customer value proposition, a profit formula, key resources,
and key processes (Figure 1) (Casadesus-Masanell & Ricart, 2011). To summarize, all
definitions lean towards the same as the business model is a tool that enables to clearly see the
interrelation between the firm, its customers and ways how to create and capture the value.
Figure 1: The elements of successful Business Model

Source: Johnson, Christensen, Kagermann, 2008

14

According to (Casadesus-Masanell and Ricart (2011), a business model encompasses choices and
consequences. When generating a business model an enterprise makes policy, asset, and
governance choices and accordingly, all choices have their consequences that can be either rigid
or flexible. This proves that alternatives chosen for the business model definition and thus, for the
companys starting point results in future outcomes. Furthermore, in order to create a valuable
and effective business model it needs to fulfill the following criteria:
Be

aligned

with

company

goals Be self-reinforcing
Be robust (Casadesus-Masanell & Ricart, 2011).
The criteria are connected with the choices a company makes when creating its business model.
Firstly, the choices have to support the companys short as well as long term objectives and thus,
bring consequences that make companys goals possible to be accomplished. Self-reinforcing
means being consistent as the choices are supposed to be in balance, be complement to each
other. Robustness looks at the effectiveness over a period of time and the ability to stay effective
and repulse threats for instance, of imitation or substitution. (Casadesus-Masanell & Ricart,
2011). When designing the business models and deciding on the alternatives companies are
extremely affected by managerial decisions. The decision makers are in power to make decisions
and hence, create consequences that would influence the companys operations and its (well)being. All in all, well designed and thought-out business model over time evolves into
exploitation of a competitive advantage and is able to strengthen the companys position on the
market as well as consequently, weaken the position of the competitors. Nonetheless, as Joan
Magretta (2002) says, business model may turn out into an influential tool for better
implementation as well as if clearly defined it can become a foundation for employee
communication and inspiration because if a business model tells a good story, it can be a way to
get everybody inside the company to support the sort of value the organization wants to create.
Since the introduction of the business model term, many have been confusing it with the strategy.
Magretta (2002) further explains that the business model and strategy is not the same thing. She
says that a business model illustrates individual parts of a business and their integration but it still
does not take into consideration an essential measurement of performance and that is
competition. Instead, it is strategy that considers reality. Unless experiencing a monopoly
15

position in the market, competition plays significant role and should always be taken into
consideration when starting a business, however; it needs to be analyzed in the companys
strategy and not when designing a business model. To clearly divide the terms, lets have a look
at the proper definitions explained in the Harvard Business Review article How to Redesign a
Winning Business Model. Business model refers to the logic of the company how it operates
and creates and captures value for stakeholders in a competitive marketplace strategy is the
plan to create a unique and valuable position by defining the ways how to compete in the
marketplace. The system of choices and consequences is a reflection of the strategy, but it is not
the strategy; it is the business model and strategy refers to the contingent plan about which
business model to use. (Casadesus-Masanell & Ricart, 2011). Now, it is comprehensible that
business model comes first and the strategy of a firm is derived from it.
To conclude, business model has numerous definitions and the summary of the section devoted to
characterizing it could be expressed as following: a business models great strength as a
planning tool is that it focuses its attention on how all elements of the system fit into a working
whole (Magretta, 2002). What is more, it has been stated that also learning to distinguish the
terms of business model and strategy and their relationship in real life business situations is
necessary for uncovering successful ways of competing in the market.
2.2.2. Different views on Business Models
As it was already mentioned in the previous section, the business model does not have a single
generally accepted definition which, in all probability, results from many viewpoints from
numerous authors studying and developing the business model concept across different
disciplines. In this part of the theoretical framework, firstly, the opinions focusing on typology of
business models of authors of the New Business Models for the Knowledge Economy book will
be analyzed and thereafter, the second part will center its attention on opinions of researchers A.
Osterwalder, Y. Pigneur, and Ch. L. Tucci focusing on the content of the business models.
Based on the research conducted by Jansen, Steenbakkers, Jgers (2007) in their book, New
Business Models for the Knowledge Economy, the resemblances between different business
models approaches have been identified and the universal classification has been created along
the two categories which are:
16

the revenue model

the integrated model

The revenue model refers to the specific manner in which an organization is able to generate
income, meanwhile the integrated model refers to the strategy and configuration of the
organization designed to exploit business opportunities (Jansen, Steenbakkers, Jgers, 2007).
To begin, a revenue model outlays the firms process of making money and by indicating how to
charge for the product or service. Simply, the revenue model outlays the execution and that is
how to translate the value creation of the business model into cash-flow (Jansen, Steenbakkers,
Jgers, 2007). The revenue model definition can be summarized as a model in explicit mode
where business models allow generating revenue (Amit and Zott, 2000). Furthermore, revenue
can be generated in various ways, from traditional such as producing a product or a service and
selling it to customers, to more complex ones with many distributors and advertisers. With the
expansion of Internet and innovative ideas how to make profit new business models have been
created but at the moment the exact types and explanations are not yet relevant to be explained in
order to fulfill the goal of this Masters Thesis.
Another approach to revenue models is a resource based approach. This view sums up business
model from the perspective of the core competence and the core skills of the organizations and it
states that the analysis of organizations core abilities can eventuate into a revenue model
(Jansen, Steenbakkers, Jgers, 2007). Accordingly, the revenue model concentrates on the
principle of money making through value creation.
To continue, the integrated business model addresses the question of how does an organization
facilitates transactions that create values for all participants, including partners, suppliers, and
consumers. This has been studied by authors who approached business models from the
perspective of the strategy and the design of the organization (Jansen, Steenbakkers, Jgers,
2007).
The integrated business model further introduces the value chain approach. Many authors claim
that value chain, composed of activities such as design, production, marketing, distribution, and
support activities, is regarded as the starting point for the business model of an organization. In
this instance, value is characterized from an economic viewpoint and the markets position is
17

based on the organizations ability to achieve a competitive advantage throughout personalized

value chain (Porter, 2001). The more differentiated and unique products and services a company
offers the more customized value chain it reaches that subsequently leads into a creation of a
distinct competitive advantage. Jansen, Steenbakkers, Jgers (2007) futher stated that also
Rappa (2000) approaches the business model from the viewpoint of the position of an
organization in the total value chain, in order to come to a revenue model. This means that a
business model is often placed in a network of other companies and it is not spoken about value
chains but of value web. Throughout the years it has been found out that organization alone is
not viable to survive rather the decision makers need to concentrate on the network of
organizations as a whole in order to remain competitive and therefore, the focus is on the value
network.
All in all, the theories agree on the fact that a good business model shows the company the
correct direction which is a strategy as well as it illustrates how to employ the strategy (Jansen,
Steenbakkers, Jgers, 2007).
Similarly to the New Business Models for the Knowledge Economy, the authors of the paper
called Clarifying Business Models: origins, present, and the future of the concept, research the
classification and common understanding but mainly they focus on the content of business
models. Their concepts are derived from the following definition of the business model: A
business model is a conceptual tool that contains a set of elements and their relationships and
allows expressing the business logic of a specific firm. It is a description of the value a company
offers to one or several segments of customers and of the architecture of the firm and its network
of partners for creating, marketing, and delivering this value and relationship capital, to generate
profitable and sustainable revenue streams. (Ostenwalde, Pigneur, Tucci, 2005). The authors
methodology was to identify the most common parts of the business models mentioned in the
broad literature by at least two authors. They left out those focusing on the competition and
named them the building blocks. The nine building blocks that are forming a business model and
were put together in order to find a common perceptive, are illustrated and explained in Figure 2.
The detailed structure of realms described by different authors is shown in the Appendix 1.

18

Figure 2: Nine Business Model Building Blocks

Source: Ostenwalde, Pigneur, Tucci, 2005

Furthermore, the authors also identified common roles of business models and divided them into
five categories of functions:
1. Understanding and sharing
2. Analyzing
3. Managing
4. Prospects
5. Patenting of business models
In conclusion, business models facilitate gaining a clear picture of the business logic and in this
way they also help to evaluate and further develop the general business logic of a company.
Through building appropriate business models companies are managed better and can quickly
respond to the environments changes as well as portray possible future actions and enhance
innovation and creativity (Ostenwalde, Pigneur, Tucci, 2005). These areas are universal and
create common factors and grounds for assessing the business models.

19

2.2.3. Business Model Generation

Recently, the most popular and effective way of generating a business model has been a method
called the Business Model Canvas created by the Swiss entrepreneur and professor, Alexander
Osterwalder and Yves Pigneur. They defined the Business Model Canvas as a shared language
for describing, visualizing, assessing, and changing business models and described business
model as the rationale of how an organization creates, delivers, and captures value (Osterwalder,
Pigneur, 2010). In the next part, the business model will be portrayed in nine abovementioned
building blocks that demonstrate the logic of the company and its intention of money making. As
it was also already mentioned, the nine building blocks look at four main areas of a business:
customers, offer, infrastructure, and financial viability (Osterwalder, Pigneur, 2010). The visual
structure of the Business Model Canvas that is a tool consisting of the nine building blocks is
illustrated in the Appendix 2.
The nine building blocks: Customer Segments, Value Propositions, Channels, Customer
Relationship, Revenue Streams, Key Resources, Key Activities, Key Partnerships, and Cost
Structure will be explained in detail in the following paragraphs whilst the information taken is
from the Business Model Generation book written by A. Osterwalder and Y. Pigneur (2010).
Customer Segments
Customers are the most important part of any business as without them there would be no
revenue stream and the business without any audience does not make sense. Therefore, the
Customer Segments Building Block identifies various groups of people or organization that a
company wants to reach and provide its products and services to. To be able to suit customers
needs well, they are grouped into segments based on common needs, behavior or other aspects.
Most importantly, in order to be successful, a complete business model has to adopt a customer
perspective and be designed on customer insights but still, a business model innovator needs to
be aware of which customers to pay attention to and which to not take into account. Finally, it is
important also to avoid centering on existing Customer Segments only and look towards new or
unreached segments.

20

Value Propositions
Value Propositions and their uniqueness is often the motive why customer choose one company
and not another. The Value Proposition explains how the products and services creating value for
a certain Customer Segment could be an answer to customers problems or satisfy their needs.
Aspects that help creating value are for instance, newness, performance, and customization, or
design and price.
Channels
Once having defined Customer Segments and Value Propositions there has to be a way how to
deliver the value to and reach chosen customers. Firms usually reach the customers through
communication, distribution, and sales Channels. The Channels have five stages: awareness,
evaluation, purchase, delivery, and after sales.
Customer Relationship
It is not enough to attract certain segment of customers but it is important to retain them and build
a relationship if a company would like to, for example, boost its sales. This Building Block
portrays the customer company relationships nature that is split into a few types such as
personal assistance, self- or automated service, or co-creation.
Revenue Streams
It was pointed out in the first Building Block that without customers there would be no revenue
stream and now similarly, without revenue stream there would be no company. Revenue Stream
characterizes the earnings the Customer Segments are bringing into a company and earnings help
a company to survive. In a business model there can be two types of Revenue Streams:
Revenues as a result from one-time payment
Revenues arising from continuing payments

Also, there are several ways how to generate Revenue Streams as asset sale, usage fee,
subscription fees, lending/renting/leasing, licensing, brokerage fees, and advertising; and each of
them might be based on fixed or dynamic pricing mechanisms.
21

Key Resources
Every business model involves certain Key Resources that are the most essential assets that make
a business model functioning, creating and proposing the Value Proposition, acquiring markets,
sustaining relationships, and receiving returns. Every company has different Key Resource
depending on what it needs. They can be physical, intellectual, human, and financial. Moreover,
the company does not have to own the Key Resources; they can be also leased or acquired from
key partners.
Key Activities
Key Activities play a comparable role to the Key Resources as they are the most needed doings a
firm has to perform in order to make its business model function. Key Activities are generally
production, problem solving, or platform/network that could be seen for instance, in the eBay
example.
Key Partnerships
Today no single business, unless perhaps a monopoly, would survive and profit standing and
functioning alone without any partnerships, networks, and business contacts. Key Partnerships in
the Business Model Canvas is depicting the set of connections of all suppliers and partners that
create relationships because of optimization of processes, risk and uncertainty reduction, and
gaining access to special resources and goings-on.
Cost Structure
Finally, the Cost Structure portrays all costs involved in running a business model and the cost
structure might be either cost- or value- driven meaning a company either focuses on minimizing
costs wherever possible or it focuses on value creation. Furthermore, cost structure divides cost
onto fixed and variable cost and economies of scale or scope.
The Business Model Canvas is designed to be used in a range of ways. One of the most common
uses is certainly translation into a business plan. Then it might be used as a reality check, a way
to establish a common language and framework with colleagues, or it shows all members of the
organization their importance and role in within. In addition to designing and using the Business
22

Model Canvas, it has to be effectively communicated to its audience. According to the authors of
the Business Model Generation book, the efficient way is a storytelling as the stories always
make the new things tangible and clear and engage people too. (Osterwalder, Pigneur, 2010)
In conclusion, business models are not developed in isolation but in the interaction with the
organizations environment. The external environment is changing very rapidly and being aware
of its changes as well as the factors influencing it helps to adjust the business model more
efficiently. In order to get to know the environment four main areas need to be explored
continuously:
Market forces
Market segments, Needs and demands, Market issues, Switching costs, Revenue
attractiveness
Industry forces
Suppliers and other value chain actors, Stakeholders, Competitors, New entrants,
Substitute products and services
Key trends
Regulatory, Technology, Societal and cultural, and Socioeconomic trends
Macroeconomic forces
Global market conditions, Capital markets, Economic
Commodities and other resources (Osterwalder, Pigneur, 2010).

infrastructure,

These forces could be also recognized based on the Porters Five Forces diagram depicted in
Figure 3. Porters Five Forces diagram is a tool that enables assessing the position of power in a
business situation as it explains strong and weak points of current competitive position as well as
of the possible future one. The structure is divided into five blocks:
Supplier Power how easy it is for suppliers to drive up prices
Buyer Power how easy it is for buyers to drive prices down
Competitive Rivalry ability to compete
Threat of Substitution
Threat of New Entry

23

Typically, the tool helps to discover new products or services profitability. (Mind Tools, 2014).
Furthermore, Michael Porter himself (2008) explains that in order to define an industrys
structure and nature of competitive interaction within and industry it is necessary to assess the
competition not only directly but also indirectly and hence, identify other competitive forces as
customers, suppliers, potential entrants, and substitution products or services.
Figure 3: Porters Five Forces Diagram

Source: Mind Tools, 2014

24

2.3. Business Plan

Despite of the opinion of Alexander Osterwalder, inventor of the business model canvas that
business plans are worthless affirmed in the previous section, business plans are, on the contrary,
truly perceived as an indispensable part of a venture creation among many entrepreneurs in the
world. As Friend & Zehle (2004) write, it is not only a prerequisite for gaining access to finance
but it also provides the blueprint for successfully creating and running the new venture. A
business plan describes the businesss vision and objectives as well as the strategy and tactics that
will be employed to achieve them (Friend & Zehle, 2004). Business plan can be looked at from
two different perspectives: academic and entrepreneurs. According to the Mascarenhas (2009),
from an academic point of view, a business plan is a roadmap, a statement of strategy, an
operational model, a business forecast or some another conceptual label. From an entrepreneurs
viewpoint, a business plan is a selling document, a sales pitch given to prospective venture
capitalists and banks (Mascarenhas, 2009). Bringing the definitions of business plans to a close,
there are many way to explain the meaning of a business plan and in spite that two businesses are
never the same, good business plans always contain a number of common themes. They tell a
story and explain how the business will achieve its objectives in a coherent, consistent and
cohesive manner (Friend & Zehle, 2004). All in all, writing a business plan is like giving the
business and the business idea a structure that in most cases is a condition for creating a
successful venture.
2.3.1. Purpose and Principles of the Business Plan
The details and the depth level of a business plan depend on the targeted audience. Most of the
time a business plan is written either to secure a form of funding, provide strategic and
operational details, communicate vision and mission of larger companies, or be a part of a tender
process where all skills are presented in the best way in order to be chosen for a product or
service realization. In case of securing finance, the business plan concentrates on the prospects of
market growth and the basis of the businesss sustainable competitive advantage. Also, financial
projections are important (Friend & Zehle, 2004). A business plan focusing on strategic and
operational aspects provides details on technical feasibility, process descriptions, and product
specifications as well as job descriptions and operational budgets. (Friend & Zehle, 2004)
25

According to Blackwell (2008), a business plan must convince the reader that there is a
satisfactory large market, competent and effective management, promising and quality product or
service, and that sufficient funding in terms of finance is provided. Furthermore, in order to
succeed, a business plan cannot lack clarity, brevity, logic, truth, and figures. The language used
should be simple, context should be described clearly without going unnecessarily in-depth, and
facts and ideas should be presented truly and in a logical sequence. Furthermore, for the
credibility anything that could be quantified should be presented in numbers.
2.3.2. Structure of the Business Plan
For the reason that a business plan is a form of guidelines that specify current and future position
of the business as well as it is a roadmap how to reach the goals and objectives, it needs to
conform to a certain structure. Then, the structure may vary depending on the business plans
elements as length, depth, width, and technicality (Mascarenhas, 2009). According to the
Sahlman (2011), the business plans framework systematically assesses the four independent
factors critical to every new venture:
The people
The opportunity
The context
The risk and reward.
In addition, no business idea or business plan is the same and therefore, also the structures vary
accordingly. However, a conventional and widely used framework of business plans consists of:
Executive Summary
Background
Market and clients
Products and Services
Business operations and organization
Human Resources
Legal framework, and environmental and social
factors Financial planning (UNCTAD, 2002)
26

Executive Summary
Executive summary is the business plan in miniature (Mascarenhas, 2009). It is also considered
the most important section of a business plan as the target audience reads it as first. This section
briefly tells the reader where the company is, where it wants to be taken, and why the business
idea will be successful. For a newly established business it needs to focus on the experience and
background as well as it needs to demonstrate well performed market analysis and solutions to fit
in the market gap. If the business plan is seeking financing, the executive summary is also the
first opportunity to grab a potential investors interest. The executive summary has to catch the
excitement and essence of the business and it is a piece of the business plan that should get
writers best attention, skills, drives and passion. Convincing the reader of being able to succeed
in the target market and then addressing the future plans are the essential part of the executive
summary. (The U.S. Small Business Administration, n.d.; Mascarenhas, 2009)
Company Description
Company description describes the nature of a business, its business strategy and it portrays the
companys current status such as feasibility, viability, profitability, and the competitive
advantages as well as it explains how the companys products and services meet marketplace
needs. In addition, it also outlines future goals of the company. (The U.S. Small Business
Administration, n.d.; Mascarenhas, 2009)
Market Analysis
The market analysis section is to prove that the new project is able to capture a sufficient market
share in an industry on the rise as well as be competitive (Timmons & Spinelli, 2003). Therefore,
it needs to clearly identify the target market, including competitors, market share and potential
market share, market stability, market growth, and success of a product or service in other
markets (Covello & Hazelgren, 2002) and last but not least it also specifies the industry trends.
This part is said to be one of the most difficult to prepare and nonetheless, one of the most
important ones due to the fact that other parts of the business plan depends on the market
research and analysis. Porters Five Forces Model, PEST and SWOT Analysis are vital parts of
the market analysis because they enable to assess the business environment on all levels.
27

Product or Service
Product and Service section illustrates the companys products or services, highlighting and
focusing attention on aspects that could create definite competitive advantage as well as it
explains the market demand the products or services would meet. Last but not least, it portrays
concrete ideas for potential expansion. This section should include all the following:
Product

description

and

history Product attributes

Research and development
Product life cycle

Costing and pricing

Quality assurance and control
Sourcing
Intellectual property (UNCTAD, 2002).
Organization and Management
Organization and management part describes functions of the companys key management team
and its importance and involvement for the realization of future goals. It includes an outline of
the organizational structure for the venture, a description of the ownership position and of any
other investors. Furthermore, indications of commitment, such as the willingness of team
members to initially accept modest salaries, and of the existence of the proper balance of
technical, managerial, and business skills and experience in doing what is proposed need to be
presented (Timmons & Spinelli, 2003). As it was previously mentioned, the people form an
essential component to the business and its success, hence; choosing and explaining the roles in
detail is necessary.
Marketing and Sales
After demonstrating prospective for growth and defining customer segments in previous sections
of the business plan, marketing and sales section examines marketing strategy. According to the
United Nations Conference on Trade and Development, marketing consist of four elements such
as market study, product development, selling and distribution concept, and product promotion
28

(UNCTAD, 2002). Naturally, there is a difference between marketing and sales as marketing is
about assessing the demand for the product or service and establishing ways of communicating
its attractiveness to the clients and selling, on the other hand, is finally convincing the clients to
buy the product or service (UNCTAD, 2002). Communicating with clients involves developing
a marketing mix, which is defined by 4Ps: product, price, promotion, and place. Based on the
definition by Friend & Zehle (2004) 4Ps is a tool to position products in the target market and
all 4Ps together form an offer that is a value proposition that satisfies customer needs. To
conclude, the marketing and sales section should include the following:
The product positioning against competitors
Identified and sized target market segments

Product specifications in terms of customer needs and benefits

Named wholesalers and retailers
The advertising and promotions budget broken down into programs
Addressed customer service, guarantees, order fulfillment and after-sales service (Friend
& Zehle, 2004).
Implementation Plan
The implementation plan provides an overview on starting and growing the business in the first
tenths of days with specific timescale, objectives and targets, and tasks and actions (Luke,
2013). It is also a high-level operational plan.
Figure 4: From business plan to implementation plan

Source: Friend & Zehle, 2004

29

Financial Plan
The New Venture Creation textbook describes the financial plan as a basic to the evaluation of
an investment opportunity and needs to represent the best estimates of financial requirements. Its
purpose is to indicate the ventures potential and to present a timetable for financial viability
(Timmons & Spinelli, 2003). Simply, financial plan provides foundation for the decision whether
to start the business or not. According to the United Nations report, the two most main elements
of the financial planning are:
An indication of how profitable the business is expected to be in the future and possible
financial risks involved
A definition of additional funds required for developing the business (UNCTAD, 2002).
Additionally, investment expenditures should be also defined as they represent the sum of all
capital expenditures that are connected with the realization and operation of the project.
Investment expenditures include fixed assets that are costs related to the construction and
equipment of the business and working capital that are costs related to the operation of the
business (Kunecov, 2012, pp. 29 - 30). Furthermore, choosing the right type of financing is
necessary to save time and limit undesirable shifts in the business. The StartupNation has
elaborated on different forms of financing and summarized the financing options as following:
Debt financing via financial institutions (e.g. banks)
Grants provided by governmental agencies
Equity financing
Friends and family

Angels investors

Venture capitalists

Strategic investors (StartupNation, 2005).

Revenues
Revenue is the income earned by selling goods or services before subtracting any costs or
expenses (Business Dictionary, 2014) and revenue streams actually ask the question what value is
the customer paying for as well as define strategy of how to capture that value. For instance, it
30

can be a direct sale, transaction based on price, advertising, freemium model, and license or
subscription model (UDACITY, 2014). In order to stay liquid and survive most businesses build
up a multiple revenue streams which are simply businesses forms of income.
Costs
Costs are the expenses that a company realizes when it produces a product or provides a service
and consequently, the cost structure of a company is defined as the ratio of fixed costs to variable
costs (InvestorWords, 2014). Furthermore, fixed costs are defined as costs independent of output
and they stay constant for a certain period. They for instance, include rent, buildings, or
machinery. Variable costs on the other hand, are costs that differ with output and in general they
go up at a steady rate in relation to labor and capital. The most common types of variable costs
are wages, utilities, or materials used (Fundamental Finance, n. d.).
Risk Analysis
Risk analysis creates a fundamental part of a business plan as this section identifies potential
risks as well as strategies to minimize the impact of risk related to launching and growing new
business. Every business is facing more type of risks: operational, industry, financial, and
political. Operational risks are internal to the business and relate to its ability to achieve its
chosen strategy, while industry risks have grounds in the external developments in the industry,
and political risks relate to the governmental risks as well as actions of trade unions, lobbyists
and activists. In the business plan, the first part of the risk analysis is risk identification followed
by the risk quantification and is completed with implementing strategies to manage risk such as
insurance, diversification, renting instead of buying or forming partnerships. (Friend & Zehle,
2004)
Exit Options
Despite the fact that many entrepreneurs do not think about exiting when starting a business,
being aware of the exit options as a part of exit strategy planning is important. According to
Hawkey (2002), for instance, it explains how investors will get their money back or it can also
make a difference between disposing of the business for a fair price and not being able to
dispose of it at all. The main exit options for private business are:
31

Family succession
Management buy out
Management buy-in

A public listing on the stock exchange

Franchising
Trade sale
Merger of sole traders, or smaller businesses in the same
industry Liquidation

32

3. Practical Part
The practical part of the Masters Thesis takes in the theory explained above and portrays the
empirical research with its goals, conclusions, and implications. These serve to perform an
applicable feasibility analysis, design a business model canvas, and create a real life business
plan.

3.1. Empirical Research

Empirical research is gradually abandoning the theoretical approach applied in the previous
sections and will focus on analyzing collected information and data from the samples of
respondents. Its purpose is to test the authors theory on chosen groups of stakeholders of ski &
snowboard school businesses. Moreover, this section will progressively examine the thesiss
empirical research goals, sample of respondents, research methods, and most importantly, it will
provide research conclusions and implications as well as biases. Finally, as mentioned above, the
information gathered through the research will be applied onto the actual business plan that will
be developed in the following part of this Masters Thesis.
3.1.1. Research Goals
The primary goal of the empirical research was to gather information from two samples of
respondents to obtain both qualitative and quantitative sets of data. The aim of conducting
research among the first sample, ski and snowboard instructors was to gain qualitative data and
therefore, insights into recent trends and the overall functioning of ski & snowboard school
businesses applied also from the clients perspective. The research focused on summarizing
positive and negative sides of ski school businesses in diverse countries, identifying the strongest
selling points. Additionally, it was used as a basis for generating ideas that could be implemented
into the actual business plan. The data also served as a foundation for the development of a
quantitative questionnaire targeted at the second sample of respondents.
Consequently, the second sample of respondents who were visitors of ski resorts in general and
visitors of the Jasn Nzke Tatry ski resort provided a basis for obtaining quantitative data. The
empirical goal was to comprehend the visitors preferences, needs, and interests as well as to
recognize their motivation behind taking ski & snowboard classes. Furthermore, the ambition
33

was to identify a potential client base depending on their age, nationality, and the expertise level
of skiing or snowboarding. The research was also used as a basis for the final evaluation of the
actual business feasibility.
3.1.2. Sample of respondents
The first group of respondents was composed of ski and snowboard instructors from all around
the world with experiences in teaching skiing and snowboarding in diverse countries. In order to
get hold of valid information, one of the criteria was also to include ski & snowboard instructors
who taught both in Slovakia and abroad. The reasoning behind this criterion was an assumption
that ski & snowboard schools abroad might be more developed than those in Slovakia. Therefore,
instructors who got to experience and see the difference are likely to be a source of relevant
information that could be translated into a distinct competitive advantage for the authors actual
business plan and a ski & snowboard school established in Slovakia.
The respondents were reached online through the authors personal network and a public
Facebook group called the Snowsports Instructors of the World. The number of respondents in
this sample was 30 of nine nationalities having teaching experiences in the main ski resorts of
different countries as Austria, Australia, USA, Japan, Slovakia, France, Italy, New Zealand,
Scotland, Argentina, Sweden, and Switzerland.
The second group of respondents included people who have visited the Jasn Nzke Tatry ski
resort without any limitations on age or nationality. To collect up-to-date information, the
criterion was to reach respondents who have skied or snowboarded in Jasn in order to obtain
quantitative data from potential clients as people who have already experienced skiing and
snowboarding in the Jasn Nzke Tatry ski resort are likely to come back and state their
preferences about ski & snowboard schools. These insights are useful to be able to define the
target segment and their wants.
The number of respondents in the second sample was 67 out of which 25 respondents were
reached in person and 42 filled in the online questionnaire consisting of the same questions.
76.8% of respondents were skiers and 23.2% were snowboarders. Their age range was between
19 54 years with varied skiing and snowboarding ability. The nationalities that participated in
the questioning were Slovak, Czech, Polish, Russian, Ukrainian, English, and Belgian.
34

3.1.3. Research Methods

In this thesis, for the purpose of researching and understanding customers and further target
segment development, two research methods were combined as both qualitative and quantitative
approaches were applied. This section is devoted to the description of the approaches, sampling
methods, as well as the selected method which was a questionnaire.
Qualitative implies a direct concern with experience as it is lived or felt or undergone ...
Qualitative research, then, has the aim of understanding experience as nearly as possible as its
participants feel it or live it. Sherman and Webb, 1988 (Hughes, 2006) To begin, from the
definition it is apparent that qualitative approach encompasses a much wider range than the
purely quantitative approach (Punch, 2005). Qualitative research is concerned with collecting
and analyzing information in chiefly non-numeric forms. It tends to focus on exploring, in as
much detail as possible, smaller numbers of instances or examples which are seen as being
interesting or illuminating, and aims to achieve depth rather than breadth (Hughes, 2006). On
the other hand, quantitative research consists of data collection and is usually analyzed in the
form of numbers. Moreover, it tends to emphasize relatively large-scale and representative sets
of data and its results are more readily analyzed and interpreted (Hughes, 2006).
The research of this Masters Thesis includes both qualitative and quantitative approaches that
are equally significant, nevertheless; the qualitative survey was carried out as first and provided a
basis for the quantitative one. The samples of respondents were defined based on the target
populations which in the case of qualitative survey were the ski & snowboard instructors and in
the second quantitative survey case they were the visitors of the Jasn Nzke Tatry ski resort.
According to Teddlie & Yu (2007), the population is defined in sync with the objectives of the
study and the sample mirrors the populations characteristics. The sample represents the
population and thereafter, the probability or non-probability sampling methods are applied. The
first target population, ski & snowboard instructors represented the acquisition of valuable
information about customers habits, needs, and motivation from the sample of 30 professionals
in the field with long-run experiences teaching snow sports all around the world. It also provided
a basis for creating a questionnaire for the second target population sample. The second target
population consists of people who visited the Jasn Nzke Tatry ski resort in the past and
therefore, the sample of respondents consists of 67 skiers and snowboarders of the Jasn Nzke
35

Tatry ski resort. 25 out of them were approached randomly on the ski slopes and the remaining 42
provided answers via electronic communication. The email addresses were obtained based on a
personal network from the databases of various accommodation units and ski schools.
Also, both surveys were designed in the form of a questionnaire that was distributed online and in
person in the form of a short interview. Research & Consultation Guidelines state that a
questionnaire is a tool for collecting and recording information about a particular issue of
interest and it is made up of a list of questions that have a definite purpose that is related to the
objectives of the research (Kirklees Council, n.d.). To conclude, the questionnaires used in this
thesis served to collect basic information about peoples behavior when skiing and snowboarding
as well as to figure out thoughts, feelings, and positions of selected respondents.
3.1.4. Research Conclusions
Initially, this section summarizes the ideas from the questionnaire filled in by ski and snowboard
instructors providing qualitative information based on seven open questions that are shown in the
Appendix 3. To summarize, the main outcome of the Questionnaire for experienced instructors is
the fact that any ski & snowboard school in order to be successful needs to focus on its guests by
providing the best possible customer service that includes having quality instructors.
Based on the results of the fourth questionnaires question depicted in Figure 5, the added value
of any ski & snowboard school is brought by mostly the customer service and instructors quality.
After that by offering all inclusive packages in form of lessons, lift passes, rentals, and
accommodation and by the schools location meaning be in close proximity to lifts, car park but
also overall ski resorts closeness to large living areas or hubs.

36

Figure 5: Added value of ski & snowboard schools in general

Location
6%

Custom
er
service
47%

Instructor's
Quality
41%

All
inclusive
package
6%

Source: author
Furthermore, Figure 6 shows that in the opinion of the respondents, the most essential factors for
providing good service is by far the quality of instructors, then the schools individual approach
to guests and efficient organization of the school. Quality of instructors could be assessed from
more angles but according to the results of the questionnaire, the most vital are: empathy and the
ability to put oneself into a guests shoes, interest in teaching and the job itself, having fun as well
as being honestly engaged and having a relationship with the client. Also, experience is high on
the list.
Figure 6: Most vital factors for providing a good service

Individual
Approach
17%
Quality
Instructors
73%
Efficient
Organization
of ski school
10%

Source: author

37

Additionally, when examining the difference between teaching and ski & snowboard school
standards in Slovakia and abroad, it can be concluded that foreign schools have a higher standard
of customer focus, are more diverse and client friendly in lesson types as well as the instructors
quality is higher. The reason behind this is the fact that schools abroad offer or have mandatory
training for the instructors; meanwhile in Slovakia some of them do not even hold a certificate.
On the contrary to Slovakia, abroad, mainly in Australia and Japan as well as in Sweden and
Switzerland, instructors are role models and represent a respectable, rewarding, and enjoyable
profession. Besides, it seems that Slovakia is still lacking offering complexity. For instructors it is
not enough to possess only professional skills but also, it is necessary to know the area well, its
history and fun fact that might create a pleasant environment for a guest to return repetitively. At
last, the questionnaire provided some insights into trends and innovations of the ski & snowboard
school business. It is essential to keep up with the needs of the guest and thus, give attention
solely to customers: be more experience focused than learning focused; provide private lessons
and group lessons of a maximum of six people to ensure quality of the service, introduce night
shows with demonstration skiing and snowboarding as well as have lessons in the Terrain Park
and freeride zones. On the whole, it is trendy to provide a great environment where everything is
easy for the guest even for example, creating something simple as organizing lunches to ensure
that the family can meet up over a meal during their whole day of skiing or snowboarding. Also
recently, the number of lessons taken by adults has increased as they have spare time while their
children are in the ski & snowboard schools, too. Generally the guests put emphasis on learning
and improving and therefore instructors need to be trained and re-educated repetitively.
Nevertheless, a new trend in France is to offer a ski-camp model instead of traditional lessons
that includes not only practical lessons but theory, video shooting and analysis, living and having
fun all together also in the evening. Another interesting point to comprise is to welcome
handicapped clients into the skiing world. For instance, Australia has its own union for disabled
skiers, offering winter mountain trip to people with diverse disabilities. The instructors are
specially educated in order to learn how to use a special type of skies and other equipment to suit
blind, autistic, or even people in the wheelchair. To conclude, the results of the questionnaire for
experienced instructors could be summarized by direct citation of one Australian instructor:
Look at what customers want, ask them all the time, be responsive, and your schools will be a
success.
38

Subsequently, gaining information from the first questionnaire served as a basis for the second
one targeted at potential clients and is illustrated in the Appendix 4. The questionnaire consisted
of 11 closed questions and provided a quantitative set of data. The main outcomes are that the
respondents are from larger part skiers, adults; they prefer private morning classes of
intermediate duration booked on the spot, while the most important factor is the instructors
quality with the emphasis on learning and improving skills. The data were obtained from a
sample of 115 respondents, out of which 58.3% skied or snowboarded in the Jasn Nzke Tatry
ski resort and these 67 people became a sample valid for creating the business plan. The sample
provides information that 79% had or would like to have an experience of taking ski or
snowboard lessons (Appendix 5 and 6 respectively). What is more, the answers were provided by
73% skiers and 27% snowboarders of different nationalities as Slovak, Czech, Polish, Russian,
Ukrainian, Latvian, English, and Belgian out of which 46% were beginner, 34% intermediate,
and 20% expert skiers (Appendix 7 and 8 respectively).
When analyzing the clients preferences in more detail, it can be concluded that the most
persuasive factor of taking ski or snowboard lessons would be the instructors teaching and skiing
quality together with the price followed by first choices as friendliness of the staff, number of
people to whom the instructor is devoting his/her attention, experiences of the instructors,
crowdedness and safety of the ski slopes, language in which the lesson is held, or even a
regularity of lessons.

39

Figure 7: The most persuasive factor to take ski or snowboard lessons

Cheaper
classes
than at other
ski/snowboar
d
schools
19%

Other
Friendliness of
staff of the
ski/snowboardi
ng
school
15%

9%

Instructors
teaching and
skiing quality
57%

Source: author
It can be observed that the most persuasive factor is in sync with the most important factors that
the clients are basing their decision on when choosing a ski/snowboard school in general. In the
first place, the most crucial point is the instructors teaching as well as skiing quality followed by
ski & snowboard schools staff friendliness, and price and references from friends or for instance,
family relatives being at the same level. Also, aspects as timing of the classes and availability of
facilities for children such as a separated skiing area or a running ski carpet are not as high on
clients list.
Figure 8: Factors clients base their decision of choosing a ski/snowboard school in general

Importance Factors
1=very important 5=not important
3
2,5
2
1,5
1
0,5
0
Staff

Instructor Instructors'
s'
friendline Teaching
Skiing
ss
Quality
Quality

Price

Time

Ski schools' Ski/snb

schedule facilities for

children

rentals

Reffera
ls

40

Additionally, the survey also showed that high potential guests are adults or children older than
seven years with higher preferences of private classes. Furthermore, 52% of guests usually book
their classes on the spot, 22% through the online booking system and 18% through their
accommodation (Figure 9).
Figure 9: Booking of ski/snowboard lessons
Online
booking
system
22%
On the spot
52%

Email/phone

Accommodati
on
18%

8%

Source: author
In addition, 63% of respondents prefer morning classes to afternoon classes starting after one
oclock pm and as already mentioned, the preferred duration of the lesson is approximately two
hours. Respondents actually prefer longer lessons to shorter as 24% would also choose full day
classes. Most importantly, the goal and the motivation behind taking ski or snowboard lessons is
the will to learn and improve skiing/snowboarding skills, to get new experience, and to have fun
(Figure 10).

41

Figure 10: Main purpose for taking ski/snowboard lessons

Getting new
experience
28%
Fun
15%

Learning
and
improving
skiing/snow
bo
arding skills
57%

Source: author
From the acquired results it is possible to assume a correlation between the nationalities and
clients preferences, wishes, and motivation. It can be concluded that most of Russians,
Ukrainians, and Latvian ski resort visitors are beginners, while the rest of nationalities are
beginners as well as intermediate skiers. Expert skiers are mainly Slovak and Czechs. Moreover,
clients from eastern countries have a tendency to book shorter classes and their goal is to get new
experience and have fun while clients from the West are inclined to book longer, for example, full
day classes with major motivation to learn and improve.
3.1.5. Research Implications
The research consisting of the qualitative and quantitative questionnaire was carried out in order
to obtain information about worldwide ski & snowboard schools background, to understand the
nature of this business more in depth as well as recognize the preferences and motivation of
potential clients concerning ski & snowboard schools and lessons. To summarize, the research
showed that:
Customer service and the quality of instructors are crucial business parts in order to attract
clients and remain competitive
Creating effortless environment where guests can enjoy their holidays will keep them
satisfied

42

Educate the instructors not only on a professional but also personal level

Ensure that the family can meet during the day

Provide innovative lessons in terrain parks and freeride zones

Focus on skiers more than on snowboarders as 73% of the thesiss respondents were
skiers.
Focus on adults and teenagers rather than young children as more than 46% of
respondents have taken adult classes. Also if teaching children, private lessons with no
special separated area and equipment is really necessary to be provided.
Private and morning lessons in intermediate duration (76% and 55% respectively) are
preferred to group lessons.
Provide a possibility of booking a class on the spot, through an online booking system as
well as in different types of accommodation. Booking via email is not necessary as only
10% of clients would use the option.
Employ excellent staff, mainly instructors who would be able to deliver superior lessons
in terms of quality, friendliness, and fun as these are the most essential factors for the
respondents.
Focus as much or more on experience than on learning
The findings and conclusions are relevant also in terms of comparison with data of the
competitive ski & snowboard schools in the Jasn Nzke Tatry ski resort, however in order to
maintain confidential information, the exact data cannot be disclosed.
3.1.6. Research Limitations
The conducted surveys include certain limitations that might affect the overall data and thus,
results of the questionnaires:
Despite of random sample selection, the small sample size of 67 skiers & snowboarders
may distort the research conclusions.
There is a risk of overestimating the demand for the ski & snowboard schools services as
and strong correlations between individual questions were not formed.
The questionnaires were answered on voluntarily basis.

43

3.2. Feasibility Study

The feasibility analysis was performed before creating a real business model canvas and a
business plan however, the author with the permission of the thesiss supervisor decided to
include solely the illustration of a business model canvas depicted in the following part and a
detailed business plan in order to focus on the goal of the thesis.

3.3. Business Model Canvas

Figure 11 portrays the real Business Model Canvas created for the Ski & Snowboard School
Lky. Similarly to the Feasibility Analysis, it is not going to be described in this section in detail
as all its parts are channeled and explained in the Business Plan.

44

Figure 11: Business Model Canvas, Ski & Snowboard School Lky

Source: author
45

3.4. Business Plan

3.4.1. Executive Summary
The business plan is providing structured strategic and operational details of developing a new
ski & snowboard school in the Jasn Nzke Tatry ski resort right at its entry where it would be
visible and exposed to every visitor coming to the resort. The Ski & Snowboard School Lky
would be named after Martina Dubovsk, local professional skier and an Olympian who would
give the business a great portion of credibility, uniqueness, and quality. The ski & snowboard
school would be providing snow sports classes such as private and group classes for both adults
and children. The types of lesson would differ and would range from ordinary ski and snowboard
classes to freeride and freestyle or snow bike and mountaineering classes. The main target
audience would be adult and teen skiers who would be offered excellent customer service
consisting of individual approach and quality instructors. The prices of the ski & snowboard
school are dynamic depending on the number of hours as well as persons and would range from
34 EUR for a group lesson to 130 EUR for a private class or even to 450 EUR for an exclusive
type of lesson with Martina Dubovsk.
Winter sports are generally very popular and the Jasn Nzke Tatry ski resort is visited by
increasing number of tourists every year who are creating potential and a large customer basis for
a new business. Besides, the level of competition in Jasn is not low as it is dominated by one
strong player, the Tatry Motion School owned by the Jasn cableways operator while there are
also other four small ski & snowboard schools. Despite this fact, the Ski & Snowboard School
Lky posses a competitive advantage of a great location, strong team of quality instructors and
Martina Dubovsk, and certainly thanks to these it would be able to compete in the market.
Based on realistic estimations the initial investment needed for the business set up would amount
to 12 200 EUR and would be covered by initial funding of 20 500 EUR consisting of own family
funds a private investors funds. Furthermore, the costs for the first winter season are estimated to
be 26 000 EUR however, in realistic scenario guaranteed by the revenues of approximately 64
000 EUR. In this case, the business would start earning profit towards the end of the winter
season.

46

3.4.2. Company Description

The Ski & Snowboard School Lky is an entity that would provide snow sports services to the
visitors of the Jasn Nzke Tatry ski resort. It would be aligned with the well established cottage,
restaurant, and rental service provider Lky located right at the first entry station of the Jasn
Nzke Tatry ski resort. The Ski & Snowboard School Lky would be founded as an Ltd
company owned and run by Jana Dubovsk. She would be in charge of the schools processes,
however; relying on professional network, experience, and advice of the Lky complexs
owners and operations manager. The school would provide regular ski & snowboard private and
group classes for all age categories focusing on enhancing the snow experience by including
innovative features such as freeride, mountaineering, snow bike, or even telemark classes taught
by quality instructors providing customer service tailored to guests needs. The main competitive
advantage is that the ski & snowboard school would be named after Martina Dubovsk, an
Olympian who would not only teach exclusive skiing classes but would give the ski &
snowboard school a credibility of a quality approach. Rental services are to be included,
however; they will be outsourced to the SkiRental-Liptov. The school would employ up to nine
instructors in peak seasons such as Christmas, spring, and Easter holiday period and four full
time instructors during the rest of the season. The schools professional motto to motivate
employees and provide high quality customer service is: Be responsive, look at what customers
want and ask them all the time.
Ski & Snowboard School Lky is a returning player to the market as in 2004 2009 the cottage
Lky provided premises to the ski & snowboard school that ceased to exist due to the lack of
time and interest of the operations manager. However, the experience and network of contacts
had remained and at the moment there is also enthusiasm from the part of Jana Dubovsk to
develop a new and well functioning ski & snowboard school. Due to a present level of
competition the schools outlook is not to be a market leader but a follower of the main ski &
snowboard school and capture the market segment of customers seeking quality and individual
treatment approach rather than quantity one. The future goal of the school is to gradually attract
locals as its customers, offer inclusive packages of accommodation and snow classes as well as if
market would be large enough, provide adaptive lessons for handicapped people.

47

3.4.3. Market Analysis

The Market Analysis identifies winter sports and ski & snowboard school business trends in
Slovakia and the Jasn Nzke Tatry ski resort in particular. It also defines and analyzes the current
competition level and target market as well as it graphically portrays competitive rivalry, scans
the business environment, and summarizes its strengths, weaknesses, threats, and opportunities.
Industry Trends
Skiing and snowboarding belong to the category of most favored and practiced winter sports in
Slovakia and every year, thousands of visitors spend their holidays in the ski resorts among
which Jasn Nzke Tatry is the top one (Slovakia Travel, 2013). As the popularity of winter sports
is increasing so is a need for relaxation and fun. Therefore, ski resorts are attracting also non-yetskiers and non-yet-snowboarders by an increased variety of events, thermal parks and wellness
centers but most importantly, with various semi-adrenaline activities such as snow tubing, kite
wing, snow rafting or sledging and bobbing (Slovakia Travel, 2013). Mountaineering and
freeriding also became popular as for example, Jasn newly offers official freeride zones and fun
parks that create interest from the side of young people. Furthermore, to please all level sports
people, the ski resorts are continuously working on the ski slopes enlargement as well as new ski
and chair lifts constructions. In 2013 new cabin chairs were built to connect two sides of the
Chopok Mountain in order to create the largest and finest skiing area in Slovakia (cas.sk, 2014).
According to the Hospodrke noviny [Economic newspapers] (2013), Slovakia and its resorts
during the winter seasons have been experiencing steady growth of tourists from abroad mainly
Czech Republic, Poland, Ukraine, and Russia due to financial investments poured into the resorts
to offer good slope conditions, new attractions, and proximity of thermal parks. What is more,
however; 50% of the visit rate in the resorts is created by local residents. Additionally, the
number of tourists visiting in general is growing as 1.24 million of foreign tourists visited the
Tatra Mountains in 11/2012 07/2013 where the biggest increase by 29% was noticed in Jasn
Nzke Tatry also thanks to the construction of a new cableway that connected the two sides of the
Chopok Mountain (TASR, 2013). The increasing visiting rate in Jasn Nzke Tatry in years 2003
2010 is illustrated in Figure 12 and Appendix 9 depicts the overall visiting rate in the Tatra
Mountains in 2009 2012.
48

Figure 12: Visiting rate in the Jasn Nzke Tatry ski resort 2003-2010
600
000
500
000
400
000
300
000
200
000
100
000
2003 2004 2005 2006 2007 2008 2009 2010
Number of skiers & snowboarders, person-days

Source: Tatry Mountain Resorts, Annual Reports

When analyzing the industry of ski & snowboard schools business separately it can be concluded
that the number of schools in the Jasn Nzke Tatry ski resort is quite steady. Over the years, the
author observed that there were ski & snowboard school that ceased to exists as well as new ones
that arose. The acquisition of cableway lines by the financial group J&T had a major impact on
the industry. J&T aims at monopolizing the resort with its services which include ski &
snowboard school business too. Hence, from that time the J&Ts Tatry Motions School had
became the largest player in the area with so far no perspective to be changed in the future.
Nonetheless, a very important remark is that the businesses in the Jasn Nzke Tatry work mainly
based on personal connections, network, and favors.
To summarize:
Number of foreign tourists visiting Slovak resorts and Jasn in particular is
increasing Locals create approximately half of the resorts visit rate
New and innovative sports and attractions are being offered to attract more people and
resorts are increasing their capacity
Number of ski & snowboard school is steady, new arise as well as some cease to exist
TM School is the largest and most powerful player in the market
49

The businesses in the Jasn Nzke Tatry are very much based on personal contacts
Competitors Analysis
The ski & snowboard school business in the Jasn Nzke Tatry ski resort represents quite a fierce
competition due to the high number of small ski & snowboard schools but mainly due to the
Tatry Motion Resorts (TMR) Company owned by the financial group J&T that is a major
provider of the cableway lines in the resort. On the other hand, Jasn Nzke Tatry attracts
thousands of visitors every winter and hence, creates business potential and chance to be
profitable for many, too.
The Tatry Motion School belonging to the Tatry Mountain Resorts (TMR) is the biggest ski &
snowboard school. The detailed information about number of instructors, guests characterization,
and main revenue sources were obtained and taken into consideration when analyzing this market
player however, they cannot be published because of confidentiality reasons. Nonetheless, the
TM has one office located at each of the three entry points to the ski resort. Its prices start at 35
euro for one two-hour group lesson and 69 euro for one two-hour private lesson and could be
found displayed at its website (TMR, 2013). Because of the high level of funding and strong
position backed by the J&T presence, it is assumed that the TM School is attempting to drive
other small ski & snowboard schools out of the business in order to create a monopolistic
position.
Strong points:
Maxiland area separated and designated for young
children Diverse and large team of instructors
Professional appearance for inexperienced guests
Weak points:
Mass

approach

and

guest

anonymity Price inflexibility

Nevertheless, there are four more small ski & snowboard schools in the different locations in the
Jasn Nzke Tatry ski resort: Veverica Ski School, FIS SKI School, Ski School Jasn Nzke
50

Tatry, and Ski School Pilgrim Ski Academy. Ski School Pilgrim Ski Academy is based within the
Hotel Druba located in the middle of the beginners slope called Biela P. The school employs
maximum of 10 instructors in the peak periods and its competitive advantage is an orientation on
Russian clientele. The hotel is owned by a Russian and has 142 rooms available that creates quite
a large pool of customers. The schools clients almost completely consist of the hotels guests as
the hotel is not located at the entrance of the resort and therefore, it is not visible to newcomers at
all. Their pricing system is dynamic and divided into peak and off-peak prices where one hour
off-peak private lesson costs 72 euro, group adult lessons 42 euro and group children lesson 35
euro (Hotel Druba, n.d.). Ski School Jasn Nzke Tatry is not present at the slopes of the Jasn
ski resort but it is based within the Wellness Hotel Chopok that is situated in the middle of the
Demnovsk valley approximately 10 km from the ski slopes. Therefore, similarly to the Ski
School Pilgrim Ski Academy, its clientele is exclusively dependent on the clients of the hotel.
One two-hour adults private class costs 59 euro and the prices set for adults and children are
diverse (Wellness Hotel Chopok, n. d.). FIS SKI School and Veverica Ski School are both small
ski & snowboard school, located 500 meters off the hill in the Hotel Ostredok and at the
beginning of the beginners slope Biela P respectively.
Therefore, the competition could be divided into two groups; the TM and the smaller ski &
snowboard schools. In comparison with the smaller type competition, the competitive
advantage of the Ski & Snowboard School Lky would be on-the-hill location right at the first
entrance to the Jasn Nzke Tatry ski resort as well as clientele from the Lky cottage and other
partner accommodation places. The competitive advantage against the TM is probably not large
enough to overcome it but the Ski & Snowboard School Lky is able to fill in the market gap
and on the contrary to mass market it would provide exclusive lessons with Martina Dubovsk as
well as tailored lessons suited to guests needs and expectations by providing good quality
lessons via experienced instructors.
Target market analysis
The target market is described in detail in the Empirical Research Part hence; this section
summarizes it very briefly. The research revealed that the target market composed of visitors of
the Jasn Nzke Tatry ski resort is principally centered at skiers, adults as well as children who
prefer private morning classes of intermediate duration booked on the spot, while the most
51

important factor is the instructors quality with an emphasis on learning and improving skiing and
snowboarding skills. The clientele needs to be approached individually as each guest has special
needs but certain nationalities as Slovak and Czechs, then Russians and Ukrainians, or English
and Belgian have particular preferences in common.
Porters Five Forces Model
Supplier Power
The Ski & Snowboard School Lky has a sole supplier of outsourced Rental Services,
SkiRental-Liptov that does not have a strong position as there are many rental services that could
be used. Accommodation places in the Liptov region could be perceived as suppliers as they
would supply new clients to the school. In comparison with rentals, these suppliers have rather
high medium supplying power due to the larger number of ski & snowboard schools that might
be interested in their partnership.
Buyer Power
The number of customers in the Jasn Nzke Tatry ski resort is high and increasing each year
therefore, the basis for setting up a new business is promising but on the other hand, buyers
power is quite strong as they are able to choose from a range of ski & snowboard schools
available in the ski resort based on their preferences. The switching costs are low in terms of
finance but are medium concerning the experience and learning.
Competitive Rivalry
The competitors analyzed in detail in the Competitors Analysis section try to win buyers over on
the basis of price, customer service, availability of childrens facilities, and quality of instructors
and their teaching styles. The key difference that serves as a basis for customers loyalty lies in
the approach to the customers, their overall satisfaction and feeling from the purchased lessons.
The strongest player competing with other ski & snowboard schools within the Jasn Nzke Tatry
ski resort is certainly the TM School owned by the J&T. However, the Lky complex has a
particular relationship with the J&T. The Lky complex has been operating and standing at the
same place for approximately 40 years while J&T has started re-creating the look of Jasn by
52

building new cableways and apartments only recently and hence, during the construction of a
new cableway a certain partnership between the Lkys owner and J&T has been formed as
there were territorial property disputes and favors involved. Since then, J&T and Lky have
created a form of a partnership and it can be concluded that Lky would be the only ski &
snowboard school having any kind of positive connection to the strongest player in the market.
Threat of Substitution
Possible substitutes could be learning from online blogs and videos, practicing with friends or
family, or bringing an own instructor to the resort. Nonetheless, these options do not seem highly
probable and therefore, the threat of substitution is relatively low as when wanting to learn skiing
& snowboarding properly over a short period of time a skilled instructor is needed.
Threat of New Entry
Threat of New Entry on a similar scale as the Ski & Snowboard School Lky is rather low due
to strong position of TM School which creates quite a powerful entry barrier for new entrants.
Still, there is a possibility for an individual instructor to separate him/herself and teach skiing or
snowboarding based on his/her own license.
SWOT Analysis
Strengths
Great location of the ski & snowboard schools building
Strong offer by providing professional not mass services
Individual approach, dynamic pricing and the ability to accommodate the offer to
customers needs
Martina Dubovsk as a brand
Wide network of business contacts and friends
Professional and fun team of instructors
Silent agreement/partnership of cooperation with J&Ts TM School

53

Weaknesses
Quite high level of competition
Dynamic pricing may lead into not as high returns on investments
Difficulty to estimate exact revenues and costs for the following winter seasons
Opportunities
Collaboration with foreign instructors and continuous advancement of customer service
Engaging more professional skiers and Olympians to give lessons through the Ski &
Snowboard School Lky
Develop the trend of experience: do not only learn to ski & snowboard but improve and
enjoy
Extending the offer to inclusive packaged and adaptive classes in the future
Threats
TM School might break the silent partnership and drive all competition out of the
business
TM School might copy the idea of ski with the Olympian
Weak winter and poor snow conditions resulting in low visiting rate
Adults and teenagers not being a profitable sector thus, a need to adapt the strategy onto
younger children
Potential disagreements between family members Jana Dubovsk and Jn Dubovsk
3.4.4. Product & Service
The Ski & Snowboard School Lky would provide mainly two types of services, namely
snowsports lessons and rental services. Providing snowsports lessons would be a core of the
business as they would be composed of skiing and snowboarding classes for both children and
adults and all lessons could be booked as private or group classes. The idea is to provide quality
and tailored classes that suit individual needs of guests.
Age division

Children younger than 6 years old

54

Teenagers (7-14 yrs)

Adults

Number division

Private lesson: 1 - 2 persons

Group lesson: 3 - 6 people

Family lesson: 2 adults + 1 child/ 1 adult + 2 children (alternatives up to 4 people)

Proficiency division

Beginner: Level 1-3

Intermediate: Level 4-5

Expert: Level
higher Time division

2 hours

and

4 hours

Full day (6 hours)

Language division

Slovak/Czech/Polish, Russian, English, Italian, German

Type division

Alpine

Ski racing

Freeride/freestyle

Others: Mountaineering, Telemark, Snow bike

Exclusive ski lessons with Martina Dubovsk, an Olympian

Naturally, each guest has a different level of proficiency so, it is necessary to create basic
guidelines according to which they would be assessed and divided into appropriate groups and
given a well-suited instructor. The level division as an example is illustrated in the Figure 13 and
14.

55

Figure 13: Proficiency division of skiers

Level 1 First time Skier
Learning balance in motion and controlling speed using a
snowplow on gentle terrain.
Level 2 Snowplow Stop
Skier can make a straight snowplow and stop. Learning how
to link snowplow turns.
Level 3 Linked Snowplow Turns to Basic Christie
Skier can make linked snowplow turns on red runs. Learning
how to match the skis at the end of turns and venture on to
more difficult terrain.
Level 4 Stem Christie Turns
Skier can make stem Christie turns on blue runs.. Learning
how to ski parallel.
Level 5 Parallel Turns
Skier can make parallel turns using poles blue runs and can
ski comfortably on groomed black runs. Learning a variety of
parallel turns.
Level 6 Carved Turns
Skier can make strong parallel turns and can ski blac terrain
an all snow conditions. Working on skill development, tactics
and versatility at high level.
Level 7 Expert Skiers
Skier can confidently ski the race course, bumps and all
terrain in any snow conditions. Fine tuning skills at the highest
level.
Source: http://www.fallscreek.com.au/GroupSkiLessons

56

Figure 14: Proficiency division of snowboarders

Level 1 Introduction to Snowboarding
Learning the basic skills needed to start riding including getting
mobile and side slipping.
Level 2 Balance & Control
Boarder can sideslip on one or both edges. Further
developing balance on both edges , direction and speed
control.
Level 3 Basics of a Turn
Boarder can do falling leaf, traverse across hill on both edges
and do a controlled stop. Learning to improve linked turns on
green runs.
Level 4 Linking Turns
Boarder can do single turns on both edges or some linked
turns. Learning to improve linked turns on green runs.
Level 5 Refine Riding
Boarder can link turns on green runs. Learning to refine riding
technique on blue runs. When ready, progressing to basic
freestyle and the Terrain Park.
Level 6 Advanced Technique
Boarder can ride blue terrain with refined technique. Learning
to ride steeper terrain and learn switch, flat-land tricks, basic
carving and basic Terrain Park including etiquette.
Level 7 Shred the Mountain
Boarder can turn confidently on black terrain, ride switch on
green runs and is competent in hitting basic Terrain Park
features. Developing advanced freestyle ( kickers , rails and
advanced boxes ), advanced freeride (off-piste, powder,
trees runs and bumps), and advanced carving ( dynamic
carving technique).
Source: http://www.fallscreek.com.au/GroupBoardLessons
Furthermore, each lesson with a new guest would follow more or less the same process that has
to be pursued by every instructor in order to achieve uniformity and proficiency of the ski &
snowboard school. Logically, it would begin with the introduction where an instructor and a guest
would get to know each other personally as well as the real ability level would be observed and
defined. Instructor would also discover the guests aspirations so that the lesson has an aim.
57

The core of lessons would be composed of a warm-up and a combination of demonstrations,

exercises and free skiing/snowboarding observations. After the lesson, a follow-up procedure
would take place including two-sided feedback and an effort of unforced selling an additional
lesson to guests.
In addition, the content of lessons depends also on the time duration. The Ski & Snowboard
School Lky offers two, four, and six hours slot lessons where two hours classes has to be
taught at once and four hour classes can include 30 60 min break upon agreement with a guest.
However, it is not possible to be on the snow for a full day and thus, 6 hours classes would have a
60 minute break that would include lunch and video analysis of the day. These breaks also serve
for guests to meet their families and friends over lunchtime and so, to ensure not only quality
time on the snow but enhance good atmosphere in general in the ski & snowboard school and its
premises.
The uniqueness of the ski & snowboard School Lky is based on the fact that as the only ski &
snowboard school in the resort, it offers exclusive lessons with an Olympian, Martina Dubovsk
that creates a distinctive brand. This type of lesson would be highly priced, irregular based on
well-advanced booking, and the duration would be four hours the most.
Pricing of the lessons, divided into private, group and adults and children lessons is illustrated in
the following Figure 15.

58

Figure 15: Ski & Snowboard School Lky, lessons pricing

2 hrs

4 hrs

Full day (6hrs)

Adults/teens

62

95

130

Child under 6 yrs

44

80

Group Lesson

Adults/teens

34

69

82

Family Lesson

2 Adults + 1 Child/vice versa

90

150

Exclusive Lesson

1/2 persons

450/600

Private Lesson

Snow bike, Mountaineering, Telemarking, Freeride/Freestyle Lessons are of max. 5 people

3 hrs
6 hrs
1 person

96

190

* Private Lesson: 1-2 people | Group Lesson: 3-6 people | Family Lesson: 2 adults + 1 child/vice
th

versa (alternatives up to 4 people, 4 person + 30/50 EUR) | Lesson start: 8:30 - 13:30 | Prices
are in EUR including VAT
Source: author
Nonetheless, the Ski & Snowboard School Lky pays superior attention to the quality of
customer service and therefore, quality assurance and control is a crucial part of the business. In
reality quality customer service can be ensured by the following:
Excellence hiring
Continuous

training

and

education Observations
Feedback collection from guests and
peers After sale service

After sale service is a part of the customer service that is crucial for the Ski &
Snowboard School Lky. All its instructors seek to create relationships with their
clients through honest engagement and professional care that would ensure long
lasting relationship and staying in contact which could eventually lead into
building permanent and returning clientele.

59

Rental Services would also be a part of the Ski & Snowboard School Lky business offer as
from years of experience it is known that many tourists do not bring their own snow equipment.
However, in order to concentrate on the core of the business which are ski & snowboard lessons,
the rental services would be outsourced to SkiRental-Liptov, Ski & Snowboard Rentals,
Centrlne Parkovisko, Demnovsk dolina 032 51. The SkiRental-Liptov has been already
renting the Lky complexs premises out for three years and therefore, is able to estimate the
demand and types of equipment necessary to satisfy guests needs. The rental service would offer
not only equipment as skies (alpine, cross-country, mountaineering, and telemark), snowboards,
ski poles, ski & snowboard boots, helmets, sledges, bobs, and snow bikes but also tuning services
as waxing and sharpening.
When operating a ski & snowboard school business, it is essential to be open to think of and offer
additional services suited to guests desires. These services may arise over time as the ski &
snowboard school would continue its operations and may include for instance, storage room for
snow equipment with heaters, meals in the Cottage Lky Restaurant included, or ski &
snowboard trips for locals.
3.4.5. Organization and Management
Jana Dubovsk, would be the owner of the Ski & Snowboard School Lky. She is well suited
for the job as she is about to conclude her management studies at the University of Economics in
Prague and since she was 16 years old she has been teaching skiing & snowboarding in the Jasn
Nzke Tatry ski resort. Furthermore, she has experience in ski instructing in Italy (2008),
Australia, where she spent four winter seasons 2008-2011 and Austria (2011).
Her main responsibilities would be to oversee daily ski & snowboard schools activities, building
and maintain relationships with the partners, managing the employees activities and deal with
necessary administration procedures. She would also be instructing and providing soft skills
training to the staff but most importantly she would ensure the implementation of the business
plan into practice.
Jn Dubovsk, is a professional ski racing coach as well as an owner and operations manager of
the Lky complex since 2003. Jn would not be involved in daily business operations of the ski
& snowboard school however, because of his long time experience, personal network
60

connections and partnerships he would be a key strategic partner as well as a mentor of the ski &
snowboard school.
Martina Dubovsk, would become a face of the Ski & Snowboard School Lky. She is a
rd

professional alpine ski racer and a well-known sports person in Slovakia. 3 place in the Winter
Universiade, 22

nd

th

place in the Sochi Winter Olympics, 28 place in the Levi World Cup Race,

and numerous national titles of Slovakia, Czech Republic, Slovenia and Serbia could be taken as
her biggest achievements that put her in the position of the one to ski with.
She would engage herself with the business by teaching exclusive lessons. The timing would
depend on her training schedule but at least three available lessons slots would be planned before
the winter season.
SkiRental-Liptov, is a well established rental service provider in the Demnovsk Valley, owned
by Mr. Rastislav Strcula, who would be a key partner in providing rental services to the Ski &
Snowboard School Lky. The contract would be signed on seasonal basis, after the end of the
season and renewed continuously if both sides would be in agreement. The employees of the
SkiRental-Liptov would have to be available during the office hours to provide rental service to
the guests of the ski & snowboard school.
Michal Biro, would be the top snowboard instructor and second in command. Michal is a family
friend, he has been skiing since early childhood and since 2010 he has been ski & snowboard
instructing in Soelden, Austria. Owning and running a ski & snowboard school has been as much
of his long-time passion and ambition as of Jana Dubovskas and he would be a strategic partner
in business in terms of new ideas, organization, and education of the staff.
Michals tasks would be ad-hoc based on the current situation of the business. However, he
would be in charge of ski & snowboard education and training of teaching and skiing skills in all
matter such as scheduling the trainings, material preparation, execution, feedback collection, as
well as follow-up and further real lessons observation. Michal would be also the main instructor
taking and organizing snowboard and ski and snowboard freeride/freestyle lessons. He is also
very proficient not only in English and German but Russian language too so, Russians would be
his top clientele.

61

Peter Kuchta and Katarna Slovkov, would be the top ski instructors. They both have ski
racing background and experience in ski instructing for at least 10 years both in Slovakia and
Austria. They speak English and German. Peter would be specialized in Polish customers and
snow-bike lessons as well as adult and children group lessons. On the other hand, Katarna would
be focused mostly on private classes both in skiing and snowboarding for adults and children,
racing and mountaineering lessons.
All in all, the Ski & Snowboard School Lky would employ four full-time instructors,
mentioned above, including Jana Dubovsk. They would be role models to younger
approximately five part-time instructors who would be employed during the peak seasons such as
Christmas, spring, and Easter holidays. They would be hired through the instructing courses of
the Slovak Association of Ski and Snowboard Instructors (SAPUL) and would be ranked based
on their qualification and experiences and assigned work accordingly. The exact number of
instructors depends on the quality of the season in terms of snow and visiting rate too.
Furthermore, Jana Dubovsk and the team of the ski & snowboard school would be supported by
Janas current and former university classmates who already run established businesses and are
able to provide valuable advice mainly in online marketing, running and growing the business
and thus, would be playing roles of consultants.
The team has a common motivation behind establishing and developing a new ski & snowboard
school. All of them come from the town of Liptovsk Mikul, grew up skiing in the Jasn Nzke
Tatry ski resort, went to study business, economics, and tourism but soon after realized the
potential of the home resort and decided to build something new, worthy, and customer oriented.
Further, employees would be motivated by the possibility to work in the best ski resort in
Slovakia and by a dynamic salary that would increase based on the number of returning guests.
The employees compensation is described in section 3.4.8. Costs, Figure 20.
3.4.6. Marketing and Sales
Empirical Research and Market Analysis of this Masters Thesis revealed that although, the level
of competition in the Jasn Nzke Tatry ski resort is not low, there is a sufficient and even a high
number of customers purchasing and interested in purchasing ski & snowboard lessons. The Ski
& Snowboard School Lky would be positioned outside the mass market that consists mainly of
62

offering group lessons to young children between 3 6 years old. It would position itself as a
provider of high standard and quality lessons with qualified and experienced instructors in terms
of teaching and skiing knowledge, honest engagement and professional appearance with the
prices comparable to the competition. As depicted in Figure 11 in the Business Model Canvas in
section 3.3., the target market segments are mainly adults and teenagers who are interested in
group or individual skiing and snowboarding lessons with a slight extraordinary touch in sense of
quality, fun, and innovation.
Marketing Mix
Product
The services are described in detail in the Product & Service section 3.4.4. Nevertheless, an
additional feature of branding would be added. An entrepreneur Chris Kocek (2014) said that
your brand is your reputation. The Ski & Snowboard School Lky would be branded as The
Ski & Snowboard School of Martina Dubovsk. The name Martina Dubovsk and her
achievements were abovementioned and explained in the section 3.4.5. This particular referral
would give a distinctive competitive advantage to the ski & snowboard school as it would be the
only school among the competition in the Jasn Nzke Tatry that would offer skiing classes with
the Olympian. Not only would it give a certain professional trustworthiness to the ski &
snowboard school but it would also attract high profile clients interested in skiing with a
professional athlete.
Place
The Ski & Snowboard School Lky would be located within the Lky complex in the Jasn
Nzke Tatry ski resort, in 50 meters distance from the main road and a large parking area. In
addition, the ski & snowboard school is right at the bottom of the 6-people chairlift which is an
entry to the resort. Thus, the location for a ski & snowboard school could not be more suitable as
all visitors entering the resort would see it.
Price
Pricing of the ski & snowboard services is illustrated in Figure 14 in section 3.4.4., and the rental
service prices are shown in Appendix 10.
63

Promotion
On the spot advertising

Based on Empirical Research, it is known that most of the visitors of the Jasn Nzke Tatry ski
resort and thus, potential customers of the Ski & Snowboard School Lky make their purchasing
decisions on the spot (Section 3.1.4., Figure 9). Therefore, thanks to a great location, a banner
would be placed on the building of the ski & snowboard school. It would be large and visible
from the distance of the car park in order to attract attention of new comers instantly.

Online advertising

Online advertising is one of the cheapest advertising methods. The Ski & Snowboard School
Lky would have its own website, it would be present on social networks mainly Facebook as
well as it will use Google Adwords, and its aim would be to establish partnerships with suitable
skiing, travelling, and blogging portals. Link building, SEO, writing PR articles, presence in the
Snowsports Instructors of the Worlds blogs, and direct e-mail marketing would be ways how to
create a brand awareness of the ski & snowboard school. The online advertising campaign would
be created together with Kateina Halkov, an online marketing specialist who would assist with
these processes in the initial phase of business.

Partners accommodation advertising

The Ski & Snowboard School Lky would establish partnerships with various hotels, guest
houses, and private apartments initially in the Liptov Region and later also outside of the region.
The core of the partnership would be to place the ski & snowboard schools banners on the
websites as well as have paper leaflets at the locations. At the start, it has already negotiated
possibilities of partnerships for example, with the Lky Cottage, Chaty Jasn, Strachanovka
Jnska koliba, Penzin Energetik, guest house Jurkovi, guest house Minrik, and a few more
apartments in the town of Liptovsk Mikul.

Word of mouth

ZlavaDna.sk, Zlavomat.sk

The discounting portals ZlavaDna.sk and Zlavomat.sk are the top portals mediating the sales of
vouchers in Slovakia that represent marketing as well as sales channels (Trend, n.d.). Through
64

this channel it is necessary to consider the offer conditions and timing of the promotion. Firstly,
vouchers offered through the portals would be valid only in the off peak season therefore, during
weekdays and non-holiday periods as well as they would be visible from the end of November till
the middle of March.
In all channels, the Ski & Snowboard School Lky would choose a uniform approach to its
marketing communication. The school would be represented by Martina Dubovsk, an Olympian
that would create an exclusive, quality, and fun brand and attract visitors to try out a variety of
snow sports. Bright colors and simple language that match Martinas lifestyle would create
likeable and believable advertisements. Furthermore, timing of promotion is crucial as a ski &
snowboard school is a seasonal business and the business is the most profitable during Christmas
holidays and New Year. Hence, online promotions need to start at the beginning of December the
latest. Additionally, promotional activity of the Ski & Snowboard School Lky might be
affected by the TMs activities as they are the owner of the main domain of the resort jasna.sk
and do not allow their competition to advertise there.
3.4.7. Implementation Plan
The implementation plan depicted in Figure 16 illustrates the major initial realization phases on
monthly bases of establishing the business. The top priorities are numbered with number one and
the bottom ones with number three while the different colors serve only for nicer space
arrangement. Additionally, each task has certainly its targets that would result into a successful
development of the new ski & snowboard school and would be continuously evaluated as well as
adjusted at the end of January and onwards. For instance, the steps for the Limited liability
Company foundation are illustrated in the Appendix 11.

65

Figure 16: Implementation Plan as a Gantt chart

Owner

Priority

Details

Jana
Jana
Jana, Jan
Jana, Katka
Jana, Jan
Jana, Michal
Michal, Peter
Team
Jana, Michal
Jana, Katka
Team
Michal, Team
Team
Team

3
1
1
2
2
2
3
1
1
1
2
2
1
1

ACTION PLAN
Business Plan Creation
Funding acquisition
Ltd foundation
Creation of advertisement campaign
Partnerships building with the accommodation providers in the Liptov Region
Communication with the discounting portals and SAPUL
Order and buy all equipment (interior, teaching, uniforms, )
Renovation of the premises, interior design, furnishing and equipment fitting
Hiring part-time staff
Launch and run the advertising campaign
Final preparation (lift passes, )
Preparation of educational materials
Opening Day
Continuous evaluation, possible adaptation of strategy

May June July Aug. Sept Oct Nov

Beg. M id. Jan. +

Dec. Dec.

Source: author

66

3.4.8. Financial Plan

Investment expenditures
Initial investment expenditures at the beginning of the first winter season for the Ski &
Snowboard School Lky are estimated to be 12 200 EUR and are depicted in Figure 17. The
first part of the amount would be used for the premises and facilities renovation in order to create
a large open space with a welcome desk, place to sit and try on the snow equipment, corner with
the lockers and heated stands for boots and helmets. Furthermore, the initial investment would
include the cost of buying the necessary equipment and costs to found an Ltd company.
The investment for initial renovation would require reorganizing the premises of the Lky
Complex so that the rental services and ski & snowboard school could be in one place. For the
main erection work there will be one contractual worker hired from the local village of
Demnovsk dolina and the team of the Ski & Snowboard School Lky would finish off the
remaining work. The administrative equipment would include buying a cash box, printer, and
office supplies. The teaching equipment would include various teaching tools such as video
camera, stubbies and edgie-wedgie for children as well as uniforms for the employees. The
uniforms would be purchased from the Itoca sports for a cost price as the owner is a family friend
of the Dubovsk family. Furthermore, the above mentioned rental equipment as lockers and
stands, would be purchased from the Insider sports, long-time partner in business, at a discounted
price, too.

67

Figure 17: Investment Expenditures

Total (EUR)
Renovation

Equipment

Walls, floor, decoration

300

Furnishing & Lightning

300

Workers' salary

1 000

Administrative

800

Teaching

3 500

Rentals
Ltd foundation

Other
Total

800
5 500
12 200

Source: author
Financing options
The Ski & Snowboard School Lky would be financed in two ways: equity and debt. The equity
part and thus, the majority of funds would come from own/family funding while the remaining
27% would be covered by a private investor, the current owner and of the Lky complex. The
debt would be in the amount of 5 500 EUR and would be used as a capital for the Ltd foundation
and would be paid back with a 0% interest at the end of the winter season out of the ski &
snowboard schools revenues. The interest would not be incurred because of the long-lasting
personal relationship between Jana Dubovsk and the private investor. In case of further
expansion in upcoming winter seasons the growth could be financed by the ventures revenues.
Figure 18: Source of financing
Source of financing

EUR

Own funds

73

15 000

Private investor

27

5 500

Total

100

20 500

Source: author

68

Revenues
The revenue would be generated in two ways. Firstly, it would come from the SkiRental-Liptov
that rents out the Ski & Snowboard School Lkys premises for the season. The amount of 4.400
EUR would be paid at once at the beginning of the winter season.
Second part of the revenue stream would be generated by providing ski & snowboard lessons. In
this case there are three scenarios: optimistic, realistic, and pessimistic for both peak and off-peak
periods of the winter season. Optimistic revenues would be generated if the revenue estimation
would be correct at 100%, realistic at approximately 60% and pessimistic at 30%. Furthermore,
revenues were calculated based on the approximate length estimation of the season of 15 weeks
out of which four weeks - 28 days could be considered peak times and remaining ten weeks - 70
days, off-peak times. In the realistic case, the Ski & Snowboard School Lky would generate 64
000 EUR during the first winter season.

69

Figure 19: Revenue estimation

Revenue Stream
Private
Adults/teen
Children under 6 yrs
Teaching Person/
Price
Person/
Price

Ski &
Snowboard
Lessons
Rentals
Total

Optimistic
Off-peak season Realistic
Pessimistic
Optimistic
Peak season Realistic
Pessimistic
Rent
Optimistic
Total
Realistic
Pessimistic

Group
Adults/teens
Person/
Price

Family
2+1
Person/
Price

Exclusive
1 person
Person/
Price

Subtotal

Days

day

(EUR)

day

(EUR)

day

(EUR)

day

(EUR)

season

(EUR)

(EUR)

70
58
44
28
24
20

2
1
1
5
4
2

62
62
62
95
95
95

2
1
1
3
2
1

44
44
44
80
80
80

10
7
4
15
11
7

34
34
34
69
69
69

2
1
1
2
1
1

90
90
90
90
90
90

10
7
4
3
2
1

600
600
450
600
600
450

6 732
4 634
2 132
3 730
2 589
1 293
4 400
10 462
7 223
3 425

98
82
64

Source: author

70

Total/
season
(EUR)
57 240
29 372
16 408
55 840
34 536
17 310
4 400
113 080
63 908
33 718

Costs
The ski & snowboard school business would incur both fixed and variable costs as well as there
would be some initial investment costs required for the premises renovation explained in the
previously depicted Figure 17. Nevertheless, the cost structure for one winter season is illustrated
in Figure 20.
First of all, fixed costs would include overhead costs such as accounting, insurance, utilities and
other. Also, advertising budget would be included in the overhead and would be fixed for the
whole first winter season in the amount of 1000 EUR. The utility bills including rent would be
however covered by the SkiRental-Liptov rental services that rent out the Lky complex
premises.
The variable costs would consist of the compensation for employees and unexpected costs. The
four full time employees would earn 352 EUR per month which is a minimal wage in Slovakia
plus eight EUR per hour when instructing. The part-time employees would earn six EUR per
hour however if they would succeed to persuade the guest to buy an additional lesson the rate
would go up by two EUR per hour. Therefore, total costs for the employee compensation
calculated based on the estimated revenue generation in the realistic scenario would amount
approximately to 22 000 EUR per season. Furthermore, the unexpected costs might arise if parttime workers would not live in the town of Liptovsk Mikul and the accommodation would
have to be provided.
Figure 20: Cost structure
Total (EUR)
Fixed costs
Variable costs
Total costs per season

Overhead

2 500

Direct labor

5 632

Additional labor

16 000

Unexpected costs

2 000
26 132

Source: author

71

Break-even analysis
Based on Figure 21 and Figure 22 portraying the break even analysis of the Ski & Snowboard
School Lky it can be concluded that in the optimistic and realistic scenario the business would
start making profit after 33

rd

th

and 49 day of the season respectively. However, in case of the

pessimistic scenario the ski & snowboard school might not be profitable within one season as the
estimated duration of the season is 70 days and here, the break-even point is 73 days.
Figure 21: Break-even analysis data
Optimistic s.

Realistic s.

Pessimistic s.

38 332

38 332

38 332

98

82

64

Total Revenue per season

113 080

63 908

33 718

Average revenue per day

1 154

779

527

Break-even point/days

33,2

49,2

72,8

Total Expenditures
Teaching days

Source: author
Financial plan remarks
The initial investment expenditures, costs, and revenues were estimated only for a period of one
winter season. The reason behind is the fact that the differences in costs and revenues are not
expected to particularly differ for the further upcoming seasons. Nevertheless, based on the
growing trend of the Jasn Nzke Tatrys visiting rate and returning guests it could be
approximated that the costs and revenues are expected to be stable with a slight growth of around
10% per season. However, at this stage it would be too early to define a realistic estimation and
thus, further estimations would be prepared at the end of the first winter season.

72

Figure 22: Break Even Analysis

Source: author

73

3.4.9. Risk Analysis

Operational
Delay in the premises renovation

To ensure finishing the renovation on time a detailed work timeline needs to be

prepared as well as making fast decision and double checking correct time
deliveries of the equipment.

Incorrect estimation of the number of employees needed for the peak season times

In order to estimate correct number of instructors needed for the peak times it
would be necessary to talk to owners and instructors or other ski & snowboard
schools and be informed about the past seasons as well as keep being updated on
the accommodation booking rate in the Liptov region.

Employees quitting and disagreements in the team

These situations could be prevented by proper communication and two sided

periodical feedback.

Industry
Decrease of visiting rate of the Jasn Nzke Tatry ski resort and thus, decrease of demand
for ski & snowboard lessons
Increase of the competition or current competition becoming stronger
Overall decrease in prices of ski & snowboard lessons

All industry risks have similar courses of action when trying to mitigate the risks
and that is to try to build a loyal customer base since the beginning by offering
quality lessons with excellent customer service, uniformly advertise the ski &
snowboard schools benefits, and focus and enhance business partnership and
network building in order to create high awareness and large pool of guests.

Political/Economical
Increase in taxes
Change of legislation, for example Labor Code

74

The Ski & Snowboard School Lky could not mitigate these types of risk
however; it could keep itself informed and follow the rules.

3.4.10. Exit Options

The Ski & Snowboard School Lky is going to start operating in December 2014 and therefore,
at the moment there are no expectations to exit the business as the owner would rather
concentrate on initiating and growing the business. However, the businesss exit strategy has a
few possible scenarios:
Trade sale
The first exit scenario would be a trade sale of the business to the third party. Most likely it might
be one of the competitors in the market with the highest probability the TM School.
Merger of smaller businesses in the same industry
The second exit scenario introduces a possibility of a merger of smaller ski & snowboard schools
in the Jasn Nzke Tatry ski resort in order to become a stronger opponent for the TM School.
Family succession
Martina Dubovsk is currently a professional ski racer however, a sports career cannot be
pursued forever and so, it is likely that she might take over the ski & snowboard school and
develop it further after the end of her professional skiing career.

75

4. Conclusions
The key objectives of this Masters Thesis as researching and evaluating the business potential of
the venture Ski & Snowboard School Lky that would carry the name of Martina Dubovsk
were fulfilled by delivering a realistic business model and a business plan supported by the
theoretical framework.
The goal of the theoretical part was met as it was devoted to explaining all necessary basis and
details for the creation of feasibility plan, business model and business model canvas, and
business plan, too. This part described different types of business models and business models
structure consisting of the most vital parts as customer, proposition, activity, resources, and
revenue and cost segments. Furthermore, it illustrated the purpose and importance of the business
plan as well as its structure that generally follows the same principles beginning with the
executive summary, continuing with market, customer, and product & service analysis, and
concluding it with financial projections. Similarly, the thesis also achieved to accomplish the aim
of the empirical research and characterized the preferences and needs of the visitors of the Jasn
Nzke Tatry ski resort. The target audience predominantly desires quality customer service
including experienced instructors, comfort, and individual approach. These potential customers
aspirations were transformed into the form of a real business plan that focused on summarizing
guests needs into a service proposal, analyzing the market situation in the Jasn Nzke Tatry ski
resort including its main market players such as Tatry Motion School along with defining the
team and finance required for the establishment of the venture.
The limitations of this Masters thesis could be seen in the relatively small sample sizes of
respondents as well as in the broad financial data estimation. Therefore, further recommendation
would be to keep getting to know customers preferences continuously and also throughout the
first winter season connect the real demand data with further financial estimates for the upcoming
winter seasons in order to remain up to date with the financial strength of the business.
All in all, in conclusion, the Ski & Snowboard School Lky aka the Ski & Snowboard School of
Martina Dubovsk at the moment proved its real potential to succeed at the current competition
level in the market. It demonstrated its strengths and competitive advantages as great location and
distinctive approach of quality lessons and exclusive lessons with an Olympian supported with
76

positive revenues in a realistic situation. Therefore, this business plan would in fact serve as
systematic guidelines for the venture launch.

77

Table of Figures
Figure 1: The elements of successful Business Model
Figure 2: Nine Business Model Building Blocks

14
19

Figure 3: Porters Five Forces Diagram

24

Figure 4: From business plan to implementation plan

29

Figure 5: Added value of ski & snowboard schools in general

37

Figure 6: Most vital factors for providing a good service

37

Figure 7: The most persuasive factor to take ski or snowboard lessons

40

Figure 8: Factors clients base their decision of choosing a ski/snowboard school

40

Figure 9: Booking of ski/snowboard lessons

41

Figure 10: Main purpose for taking ski/snowboard lessons

42

Figure 11: Business Model Canvas, Ski & Snowboard School Lky

45

Figure 12: Visiting rate in the Jasn Nzke Tatry ski resort 2003-2010

49

Figure 13: Proficiency division of skiers

56

Figure 14: Proficiency division of snowboarders

57

Figure 15: Ski & Snowboard School Lky, lessons pricing

59

Figure 16: Implementation Plan as a Gantt chart

66

Figure 17: Investment Expenditures

68

Figure 18: Source of financing

68

Figure 19: Revenue estimation

70

Figure 20: Cost structure

71

Figure 21: Break-even analysis data

72

Figure 22: Break Even Analysis

73

78

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development, and future research. Retrieved May 4, 2014 from http://www.iese.edu/research/
pdfs/di-0862-e.pdf

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Appendix
Appendix 1: Domains addressed in business models

Source: Ostenwalde, Pigneur, Tucci, 2005

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Appendix 2: The Business Model Canvas

Source: http://www.businessmodelgeneration.com/canvas
Appendix 3: Questionnaire for experienced instructors
1. What is your nationality?
2. What countries have you worked in as a ski/snowboard instructor?
3. What were the reasons for choosing this/these particular ski schools? (Skiing area,
Training provided, Salary, )
4. What is your ski schools/s added value in its/their approach to guests? What made the
guests to come as newcomers? And if customers booked the classes repetitively, what
made them to do so? (Customer service, Instructors' quality, Price, ... )
5. What is, out of your instructing experience, the most vital factor for providing a good
service?
6. Have you ever taught both in Slovakia and abroad? If yes, what were the main differences
in ski/snowboard school added value and operations?

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7. If you know some trends and innovations in the area of ski/snowboard schools, please
provide some examples.
Appendix 4: Questionnaire for potential clients
Age:
Gender:
Nationality:
Skiing/Snowboarding level: Beginner, Intermediate, Expert
1. Have you been skiing / snowboarding in any ski resort within past 3 years?
Yes, I have been skiing / snowboarding in the Jasn Nzke Tatry ski resort.
Yes, I have been skiing / snowboarding in:
No.
2. Have you, your children ever taken ski/snowboard lessons?
No, and I do not want to take any in the near
future. No, but I have been thinking about it.
Yes, I have.
3. Are you a skier or a snowboarder?
Skier
Snowboarder
4. What factor would be the most persuading to take ski/snowboard lessons?
Cheaper classes than at other ski/snowboard schools
Instructors teaching and skiing quality
Friendliness of staff of the ski/snowboarding
school Other
5. Who took the classes?
Adult/s
Children 7-14 yrs
Children less than 6 yrs
6. Where/how do you book ski/snowboard lessons?
Through online booking system at the webpage of the ski/snowboard school
Via email/phone
Through accommodation in the ski
resort On the spot
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7. What is the preferred time range of ski/snowboard lessons?

Morning class (till 12pm)
Afternoon class (after 1pm)
8. What is the preferred duration of ski/snowboard lessons?
1 hour
2 hours
Full day (6hrs)
9. What is the preferred structure of ski/snowboard lessons?
Private class
Group class (3-9 people)
10. What are the factors you choose your ski/snowboard school based on? Rate the
importance from 1 to 5. (1=very important, 5=not important at all).
Staff friendliness
Instructors Teaching Quality
Instructors Skiing Quality
Price of the lessons
Time schedule
Ski schools facilities for children (separated area, running ski carpet )
Possibility to rent full equipment
Referrals (Experience and recommendations of friends/family )
11. What was your main purpose of taking ski/snowboard lessons?
Learning and improving skiing/snowboarding
skills Fun
Kill time
Company of others
Getting new experience
Other:

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Appendix 5: Number of respondents skiing/snowboarding in ski resorts within past three

years
Skiing/snwb in ski resort within past 3 years.

Yes, in Jasn.
Yes, elswehere.
No.

%
58,3%
39,1%
2,6%
100,0%

#
67
45
3
115

Source: author
Appendix 6: Number of respondents who did or did not consider and took ski/snowboard
lessons
Have you taken ski/snb lessons?
%
20,9%
28,4%
50,7%
100,0%

No, and dont want to.

No, but was thinking.
Yes.

#
14
19
34
67

Source: author
Appendix 7: Respondents based on being skiers or snowboarders
Are you a skier or a snowboarder?
%
#
Skier
73,1%
49
Snowboarder
26,9%
18
100,0%
67

Source: author
Appendix 8: Level of the respondents skiing/snowboarding ability
Skiing level
Beginner
Intermediate
Expert

%
46,3%
34,3%
19,4%
100,0%

#
31
23
13
67

Source: author

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Appendix 9: Overall visiting rate in the Tatra Mountains in 2009 2012.

Source: Tatry Mountain Resorts, Annual Reports

Appendix 10: Pricing of the SkiRental-Liptov

Lky
CENNK POIOVNE LY A SKI SERVISU/ RENT AND SKI SERVICE-PRICE
SR s.r.o.
Tel.: +421 905 356 584,
Demnovsk Dolina-Jasn
www.skirental-liptov.sk
mail: info@skirental-liptov.sk
Poet dn/days
Detsk Komplet
Ski Set Children
Ly.komplet
Ski Set complete
TOP/VIP Komplet
SKI Set TOP/VIP
Snowboardov Komplet
Snowboard Set
Lye
Ski
Lye TOP/VIP
Ski TOP/VIP
Snowboard
Snowboard
Lyiarky
Boots
Palice, Prilba
Pools, Helmets

Jasn Chata Lky

1
7

2
12

3
16

4
20

5
24

6
27

plus 1 day
3

12

23

33

42

50

57

14

25

34

43

52

60

12

23

33

42

50

57

10

19

27

34

40

45

16

24

30

36

42

10

19

27

34

40

45

12

17

22

27

32

10

SKI SERVIS
Vek servis
15
Zalievanie,brsenie skl.+ hrany, tuning, voskovanie, letenie
Mal servis
10
Brsenie sklnice + hrany, tuning, voskovanie, letenie
Voskovanie
2

Source: SkiRental-Liptov, 2014

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Appendix 11: Steps to found the Limited liability Company

State companys name, location, and line of business
Prepare a foundation charter with a signature
specimen Obtaining a trading license
Put down basic capital in the amount of 5 000
EUR Request approval of the tax authorities
Incorporation
Register at the Tax Office
Source: http://www.zalozeniesropostup.sk/

90