Gatsby's Bowtie
Boutique
Market and Industry Analyses
1. What is the language spoken in Louisiana ?
Research found :91.8 % English , 7.2% other languages mostly French dialects.
How does it affect your business? :
When in comes to business operations, staff demographics must match the demands of the surrounding area. Our operations can benefit from staffing bilingual employees in each line of business, improving our guest relations initiative.
2. What are the National Parks found in the state of Louisiana?
Research found: There are 7 national parks in the state of Louisiana.
National Heritage Area - Atchafalaya
National Heritage Area - Cane River
National Historic Park - Cane River Creole
National Historic Trail - El Camino Real de los Tejas
National Historic Park and Preserve - Jean Lafitte
National Historic Park - New Orleans Jazz
National Monument - Poverty Point
How does it affect your business?
Successful business practices must match the demand of guests. Parks and Recreation in the surrounding area is a great incentive for attracting our customers to our hotel. With 7 national parks within the state and one of them within 30 miles of our establishment, we can expect to gain interest by a vast number of visitors with a passion for the outdoors.
3. What are the military installations in Shreveport and the state of Louisiana?
Research Found:
How does it affect you business?
When in comes to military installations surrounding our establishment, provides more avenues for area interest amongst visitors. Military installations gain outside profits from the federal government that can impact the local economy greatly. Military families will be seeking accommodations when visiting their family members, and seeking various venues such as food establishments, activities, and events that will provide an active agenda that will be family inclusive.
4. What does the “Sportsman’s Paradise” mean?
Research found: It is a haven for campers , bird watchers , nature photographers and fishermen in the Northern part of Louisiana. This region is abundant with wildlife , lush vegetations and sparking lakes.
How does it affect your business?
Another avenue for business profit, is catering to the requests and demands of a high populations of outdoor enthusiast. The outdoors provides many visitors who seek fishing, boating, hunting, and various other such activities that are part of the “sportsman’s paradise” are a great opportunity to gain a business profit in what our hotel has to over these specific individuals.
5. Area/Population of Shreveport and the state of Louisiana
Research found : Louisiana 4533372 2014 & 2015 stats
Shreveport 199311 2014 & 2015 stats
How does it affect your business?
Louisiana is evidently a small state in reference to population demographics in relation to its surrounding states, and the population of Shreveport represents a small percentage of that demographics. This information signifies the need to market to people outside our immediate area, in order to meet business goals in respect to profits obtained. While our business can offer incentives to locals, we will be more profitable when we reach beyond our immediate borders and attract “outsiders”, thus capitalizing on mass profits from tourists
6. What are the residents that live in Louisiana called?
Research found:the people in Louisiana are called Louisianians or Louisianans.
How does it affect your business? We know who our locals are called.
7. Name the major industries/ agriculture in Louisiana?
Research found: Louisiana has major commercial fishing and oil companies.
How does this affect your business? With these major companies we will be able to hold meeting in our Venues and provide business with them.
8. What are the parishes and what are the parish surrounding the Shreveport area?
Research found: Louisiana has large oil and natural gas, cotton, rice, and salt.
How does this affect your business? this allows the resort to bring in these resources as local product.
9. What states border Louisiana?
Research found: the sates that border Louisiana are Texas, Mississippi, and Arkansas.
How can this affect your business: Texas has a large population that can come to our resort and use our resources. Mississippi and Arkansas both can add in more local resources.
10. Bordering body of water around Louisiana?
Research found: the Gulf of Mexico and cross lake.
How can this affect our business: with having cross lake near us, we are able to add in more value and more resources to our resort. We can add more activities for our guess to enjoy and relax at. The lake can add beaches to our grounds.
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11. Three Largest Cities in Louisiana:
Research Found:
New Orleans: Population: 343,829 Land: 369,250 km
Baton Rouge: Population: 229,493 Land: 230,058
Shreveport: Population: 199,311 Land: 201,867
How does this affect Business: The fact that Shreveport is one of the largest cities in Louisiana affects the Gatsby Bowtie Boutique Hotel and Spa because there will be more opportunities to conduct business. The more people that are around the company’s facilities, the higher the chance will be that the organization will have more purchases and sells.
12. What does the economy in Louisiana look like:
Research Found : The economy of Louisiana is primarily dependent on sugarcane, sweet potatoes, and rice. One of the major industries in Louisiana is fishing, in which shrimp, oysters, and menhaden are the main catches. Louisiana is also prosperous in different minerals causing the state to have plentiful salt, sulfur, natural gas, and crude petroleum. The state is also prosperous in timber. Tourism is also an important factor for the state’s economy, especially in the three largest cities, including Shreveport. The state’s Unemployment Rate is approximately 6.6%. The unemployment rate in Shreveport is 7.1%
How does this affect business: The economy of Louisiana affects business because it helps influence the resources the business uses, along with the prices of the goods and services sold. Because certain foods and resources are more prominent in Louisiana, it would be more effective for the business to find ways to incorporate these plentiful (and hopefully cheap) products into the business. In addition, the unemployment rate will affect the pricing of the goods and services, and our business needs to be strategic when setting the prices for the goods and services offered at our hotel and spa. If the pricing is too low, our business will be losing out on profit, but if the pricing is too high for the surrounding society, guests will not come to our hotel since they will not be able to afford it. Because the unemployment rates in both Shreveport and the entire state of Louisiana are average, the pricing of our product should reflect this. Lastly, tourism in Louisiana is a large factor in the state’s economy and will affect our business since the more individuals that visit our state, the more opportunities we will have to sell our product.
13. What does transportation in Shreveport look like:
Research Found: Shreveport is consists of freeways and highways such as Interstate 69, I-49, and I-69, as well as different airlines. The Intelligent Transport System was created to “monitor traffic” with the use of video cameras, message boards, and the AM radio to “alert” others of emergency situations or potential traffic delays. Public buses and lift vans are provided through the SPORTRAN industry. This form of transportation is accessible to all individuals and accommodations have been made to people with disabilities and the environment. (i.e. emission reduction systems). There is no subway system. There is a taxi system.
How does this affect Business: The creation of interstate highways and freeways, along with the airlines affects our business because it provides an easier route to our business when visitors are traveling from out of state. Furthermore, the Intelligent Transport System in Louisiana influences our organization because it keeps travel on the road more efficient and safer, so individuals will be more likely to make the journey to our state. Once in our state, the SPORTRAN industry provides public transportation, so individuals can continue to travel to their destinations within the state. Unfortunately, the taxi system within the state of Louisiana can hinder the Gatsby themed transportation we had planned to create.
14. What are the area attractions in Shreveport:
Research Found:
-Museums: R.W. Norton Art Gallery, Sci-Port Louisiana’s Science Center, Shreveport Water Works Museum, Louisiana State Exhibit Museum, Barksdale Global Power Museum, Walter B. Jacobs Memorial Nature Park, Meadow Museum of Art, Norsworthy Gallery, Pioneer Heritage Center, Southern University Museum of Art, Multicultural center of the South, Spring Street Museum, Stage of the Stars Music Museum, Casa D’Arte
-Fun and Games: Robinson Film Center, Eldorado Resort Casino, Sam’s Town Casino, Air U
-Landmarks: Caddo Parish Confederate Monument, Cathedral of John Berchmans, First United Methodist Church, Red River District, Texas Street Bridge, Confederate Navy Yard
-Nature: Jubilee Zoo, Gardens of the American Rose Center, R.S. Barnwell Memorial Garden and Art Center, C Bickham Dickson Park,
-Amusement Park: Splash Kingdom Water Park
-Theatres and Concerts: Shreveport Little Theatre, Emmett Hook Center, Shreveport Symphony Orchestra, The Strand Theatre, Shreveport Municipal Auditorium
-Tours: Shreve Town Ghost Walk
-Numerous bars and clubs
How does this affect Business: The large variety of activities and attractions in Shreveport can be beneficial for our business. The more our city has to offer society, the more tourists and locals will visit the different attractions. With more people visiting Shreveport, the higher the probability will be that they will need a place to sleep for the night, especially if they are not local. This, in turn, may bring them to our hotel and spa, increasing our profit.
15. Shopping in Shreveport:
Research Found: Shreveport contains a variety of shopping centers and malls including:
St Vincent Mall, Pierre Bossier Mall, Bayou Walk Shopping Center, Pierremont Shopping Center, Eastgate shopping center, Portico shopping center, Shreve City shopping center, Westwood Shopping Center, Rivergate Shopping Center, and more.
In addition to the shopping centers, Shreveport also contains a farmers market at the Festival Plaza downtown that is open on various days during the week. Because the farmers market is covered, the only time it will close is on days where there is a “major weather warning.”
How does this affect Business: The variety of shopping centers within Shreveport affects our business because our guests will have access to almost all, if not all, the goods and resources they will need. This can be beneficial for our business if we are able to purchase certain goods from these stores and sell them at a higher price. If the situation is one of instant necessity, the guest may be willing to purchase the good or resource at the increased price. Unfortunately, the availability of the shopping centers can hinder our business if the guests decide to shop at those malls and shopping centers rather than purchase our goods.
16. What does the film industry in Shreveport and Louisiana look like?
Research Found:
The state of Louisiana incentivizes film production through a 30% tax credit made available for in-state film production costs, and an additional 10% tax credit for in-state labor costs. Applying for this credit can be done online, making it easy for filmmakers to determine if Louisiana is the right destination for their film production.
Specifically, Shreveport, LA is home to the Louisiana Film Prize; a competition that challenges filmmakers across the United States to create a short film for a prize of $50,000. The festival began in 2012 and has grown in popularity ever since. Additionally, Shreveport is home to the Shreveport-Bossier Film Assistance, a production company that utilizes the geography and the local area of Shreveport to shoot films.
How does it affect your business?
This affects our business because the Louisiana Film Prize is currently hosted in Remington Suite Hotel in Shreveport. In the future, Gatsby’s Bowtie Boutique Hotel’s Business Complex could put in a bid to host the festival. Given that our theme is derived from a popular motion picture, it makes sense for the festival to be hosted in our venue. Additionally, because our hotel is a very thematic and old-fashioned building, we could allow the Shreveport Bossier Film Assistance to shoot scenes of movies in our hotel as an additional source of revenue.
17. Sports in Shreveport and the State of Louisiana
Research Found:
The State of Louisiana is home to 2 major professional sports teams: the NBA’s Hornets and the NFL’s Saints, both of which play in the city of New Orleans. The city of Shreveport used to be home to the Shreveport-Bossier Captains, a baseball team in the American Association of Independent Professional Baseball. The team played in Shreveport’s Fair Ground Field, a stadium which has a capacity of 4,200. However this baseball team is no longer located in Shreveport, therefore the stadium is largely unused other than for local high schools. Additionally, there is a football stadium in Shreveport called Independence Stadium with a capacity of 50,000. The facility is used annually for the “Independence Bowl,” a college football championship game. Independence Stadium was built in 1925.
How does it affect your business?
Because of Shreveports local sports facilities, the city is an annual destination for sports teams both local and from around the country. The Resort can take advantage of this by offering discounted theme park and hotel tickets to these teams and fans who travel to the Shreveport area. For example, the Boutique Hotel can offer fans traveling to the Independence Bowl a discounted room with the purchase of their ticket to the Independence Bowl. This will help draw more people to the city of Shreveport and help stimulate the local economy.
18. What are the top five Employers in Shreveport?
Research Found:
1. Barksdale Air Force Base: 12,000 employees
2. Caddo Public Schools: 6,800 employees
3. State of Louisiana: 6,500 employees
4. University Health: 6,200 employees
5. Willis-Knighton Health System: 6,100 employees
(https://en.wikipedia.org/wiki/Shreveport,_Louisiana#Top_employers)
How does it affect your business?
Our hotel is equipped with a business complex that can be used to host trade shows, conferences and other special events for local businesses. It is important for our hotel to keep in touch with the largest employers in the area so they are aware of our interest in hosting their future events. Our hotel can earn revenue through renting out the space, as well as providing corporate discounts for employees of these local companies.
19. What are the festivals in Shreveport and the state of Louisiana?
Research Found:
The State Fair of Louisiana is hosted in Shreveport, and is home to the largest livestock show and carnival in the state. It is a 2-week event that includes live music, food and beverage, carnival rides, rodeo, as well as other forms of live entertainment. The event’s website includes a list of preferred hotels, as well as lists of sponsors and partners.MudBug Festival, Holiday and Dixie Festival, Mardi Gras
How does it affect your business?
The Resort can begin a relationship with the State Fair of Louisiana through sponsorship, and more specifically, our hotel can become a preferred hotel for visitors. The State Fair will bring people to Shreveport from around Louisiana, and this provides us with an opportunity to capitalize on the influx of local visitors. During these times, can advertise to State Fair visitors to extend their stay in Shreveport at our hotel, and visit all of the offerings the Resort has to offer.
20. What Colleges and Universities are in Shreveport (60 mile radius)?
Research Found:
Shreveport is home to Louisiana State University in Shreveport (branch campus), Centenary College of Louisiana, Southern University in Shreveport, Career Technical College, Ayers Career College, Remington College in Shreveport, East Texas Baptist University, and Louisiana Baptist College.
How does it affect your business?
Due to the presence of colleges and universities in the local area, a demographic of young students exists in our market. Therefore, it is important that we promote our business to these students and ensure that our hotel is taking action to capitalize on the presence of these institutions. For example, our resort can offer internships to these local universities through the presence of a campus ambassador. This would provide our business with young, motivate employees and give us a competitive advantage in the hiring process. Additionally, our hotel can host events for organizations from these universities such as Greek Life, varsity sports teams and special events.
