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Business opportunities in the leisure goods and activities industry - Essay Example

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Business opportunities in the leisure goods and activities industry

Besides, it is also necessary to analyze the revenue stream of a target company over a few years to determine the long-term prospects of the firm and its internal stability. Common examples of leisure-based goods or companies include Water Parks, Disneyland, Holiday Tour operators like Thomas Cook etc (Mark, 2010). The primary task of a leisure based company is to ensure that all requirements of a person on a vacation are adequately provided for within the latter’s budget and schedule. The following sections describe the analytical approach used to evaluate prospective business segments, within the leisure industry, that are useful from an investment perspective for AGPO Limited. The analysis is based on latest figures on consumer spending between 2002 and 2007 in various leisure activities such as holidays, restaurants, sports, gambling and entertainment. Trends in consumer spending on leisure activities According to Mathies (2009), consumers are wealthier today, with higher disposable incomes, than they were 20 years ago. In fact, per-capita real income has increased by over 3 times since the 1970s while the standard of living has risen by over two-thirds during this period, especially across the developed world. Victoria (2008) says that over 45% of spending is currently categorized as ‘discretionary’ among consumers in the United States (US) and the United Kingdom (UK). With rising incomes, families now have broader flexibility in their household spending and divert as much as 20% of their incomes on leisure activities. This estimate is similar to the proportion spent by an average American household on food and beverages. Canwell (2009) conducted an extensive survey among households in the US and determined that over 80% of consumers spent regularly on leisure based goods and services. He further attributes such findings to the explosive growth witnessed by the leisure industry over the recent decade. White (2009) has analyzed the growth rate of leisure based companies in North America and Europe and estimated an average of 6% between 2001 and 2010, despite the dip between 2008 and 2009 due to the global financial crisis (Hayward, 2010). Hayward (2010) cites many reasons for the growth in consumer spending on leisure activities. Firstly, the population in most developed countries is ageing leading to more pensioners who seek out prolonged vacations and travel opportunities. Non-traditional households combined with late marriages are also other contributing factors to this trend. Charlesworth (2011) also notes that longer working hours are encouraging people to seek better leisure opportunities whereby people are willing to spend more for better products and services. Analysis of the leisure industry Based on the statistics provided on consumer spending, the cumulative spending across individual leisure segment was compiled as shown below: Fig 1: Consumer spending trends across leisure industry segments The above trend lines indicate that consumers have been spending the most on Food/Drink, Family Outings/Holidays and Household Activities. These findings fall in line with the observations of several previous studies such as those by Mark (2010) ...Show more

Summary

Business opportunities in the leisure goods and activities industry  Introduction The leisure good and activities industry is a multi-faceted industrial sector that offers people various avenues to explore, experience and enjoy their free time. The leisure industry offers a diverse set of options for individuals wishing to spend their vacations through hotels, tours, amusement parks, restaurants and sports facilities…
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Business opportunities in the leisure goods and activities industry essay example
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