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ENTREPRENEURSHIP PROJECT
AU FIL DE L’EAU
A BUSINESS PLAN BY:
Damien Fleury

AU FIL DE L’EAU BUSINESS PLAN 2
TABLE OF CONTENTS
MISSION................................................................................................................................... 4
COMPANY MANAGEMENT................................................................................................ 4
ADVISORY TEAM.................................................................................................................. 4
EXECUTIVE SUMMARY...................................................................................................... 5
AU FIL DE L’EAU .................................................................................................................. 6
BUSINESS GOALS........................................................................................................... 6
THE INDUSTRY............................................................................................................... 7
THE CONCEPT................................................................................................................. 7
MARKET ANALYSIS............................................................................................................. 9
TARGET MARKET .......................................................................................................... 9
MARKET SIZE................................................................................................................ 10
ESTIMATED SALES AND MARKET SHARE ............................................................ 11
COMPETITION............................................................................................................... 11
MARKETING PLAN ............................................................................................................ 13
PRICING.......................................................................................................................... 13
ADVERTISING AND PROMOTION............................................................................. 13
MANAGEMENT TEAM....................................................................................................... 16
MANAGEMENT COMPENSATION............................................................................. 16
SHAREHOLDERS .......................................................................................................... 17
ADVISORY TEAM......................................................................................................... 17
OPERATION PLAN.............................................................................................................. 18
LOCATION ..................................................................................................................... 18
FACILITIES..................................................................................................................... 18
EQUIPMENT................................................................................................................... 19
SUPPLY CHAIN ............................................................................................................. 20
HUMAN RESSOURCES ................................................................................................ 20
REGULATORY REQUIREMENTS............................................................................... 21
INSURANCE PLAN........................................................................................................ 21
IMPLEMENTATION SCHEDULE..................................................................................... 22
FINANCIAL PLAN ............................................................................................................... 23
FUNDING REQUESTED................................................................................................ 23
FINANCIAL PROJECTION ........................................................................................... 24
RISK FACTORS.................................................................................................................... 24
DIVESTURE/HARBEST STRATEGY ............................................................................... 25

FINANCIAL STATEMENT ................................................................................................. 26
BIBLIOGRAPHY .................................................................................................................. 31
APPENDICES ........................................................................................................................ 32

AU FIL DE L’EAU
( SARL )
1 rue de la Trinquette - 17000 LA ROCHELLE Phone : 0240777573
Fax : 0240777578
MISSION
« Provide an alternative to traditional hotel accommodation, offering pleasure to
customer to give them owner’s boat for a night or more »
COMPANY MANAGEMENT
Name Position Experience Share
Damien Fleury President and manager Manager and marketing 50%
Gauthier Dufour Salesman and Marketing E-marketing, 50%
Customer relations
ADVISORY TEAM
Name Position Experience
Xioran Huang Customer relationship Customer relationship in Hotel industry.
Seasonal employees Customers relationship Face to Face relationship
Maintenance

EXECUTIVE SUMMARY
AU FIL DE L’EAU is an innovative and creative concept for the tourist or
resident who wants to sleep in an alternative accommodation for a day or more. The hotel
industry is stuck; in some cities the number of rooms are insufficient to accommodate all the
tourists. The hotel and holiday residence industry offers a wide range of accommodation such
as flats, mobile homes, rooms, and hotels. Unfortunately, it has no innovative accommodation
which is a growing sector. AU FIL DE L’EAU is growing in a niche market, because it’s one
of the first companies that offers nights on a well-furnished boat with all the comfort. Our
differentiation is the fact, we have a web site and a physical location.
Our targets are tourists with short and medium duration stays between 25 and 60 years
old, with or without children. The ratio between foreign people and French people is
estimated at 20 per cent of foreign and 80 per cent of French tourist in La Rochelle. That is
why the company needs to be able to receive these customers1
. The target demographic is
open to other kinds of customers who want to try innovative accommodation, especially
sailors, who want to find an accommodation that looks like their own boat. La Rochelle
receives around three millions tourists per year2
. La Rochelle is considered as one of the top
10 cities in France for tourism. With an average price between 60 and 120 € per night (the
price depends on the kind of boat). First year revenue is anticipated to be around 337287€ and
reaching 490933€ during the second year. The preliminary sales forecast is visible in
Appendix 1. Our main revenue would be done by the website.
The business is led by Damien Fleury and Gauthier Dufour, ambitious entrepreneurs,
who just finished their Bachelor of Business and Administration in the Business School of La
Rochelle (France). They will be developing a company with a starting investment of 20000 €
based on personal income and a 10000€ loan. Day to Day management and communication,
and website updating, will be handled by Gauthier Dufour, a classmate of Damien Fleury.
A Capital of 30000€ is going to be invested to launch the business. Damien Fleury and
Gauthier Dufour will just taking out a loan to have more financial security. The initial
investment would be more than the money spent during the first year, and this a safe decision,
because we never know what can happen during the first year.
1 http://www.larochelle-tourisme.com/files/ot-larochelle/files/fichiers/bs13_document.pdf
2 http://www.tourisme4pro.com/article.php3?id_article=55

The company will open on 1st
March 2015, and is expected to be healthy within the
first year, which is very rare. By the end of the first year, the net profit should be around
2000€. By the second year, net profit is expected to reach at 10000 €, which is good. In the
long term if the results continue to grow, the owners Damien Fleury and Gauthier Dufour plan
to expend the business to other locations such as Arcachon, Marseille, and other harbors.
AU FIL DE L’EAU
AU FIL DE L’EAU is an S.A.R.L (Société A Responsabilité Limité) translate in English,
means a society with limited risks. The owners can only lose what they have invested. This is
a kind of partnership business, in which the two entrepreneurs do not need more people to
invest in the company, and through their partnership they can share the profit. Presently, the
tourism sector is an important sector, France is the most visited tourist destination in the
world3
. The sector is not innovating anymore, and that’s why “AU FIL DE L’EAU “wants to
revolutionize the hotel industry, by offering a Customer to Customer service where people
can sleep on someone else’s boat.
BUSINESS GOALS
The mission of the AU FIL DE L’EAU concept is “To offer the best alternative
accommodation in La Rochelle with a quality service to customers“. In the long term the
company wants to propose that customer have access to boat from all around France, and
even have boat from all around the world.
3
http://www.entreprises.gouv.fr/

THE INDUSTRY
The tourism industry in France gained 41.7 billion € in 2012. Approximately 83 million
foreign tourists came to France in 2012, and that number is growing by 1.8 per cent per year.
These numbers show us that the tourism industry in France is growing slowly, and is also an
attractive place for international tourists. The Hotel industry in La Rochelle represent 773
buildings. The slow growth of the industry can be partly attributed to the decreasing total
amount of money spend on the tourism, due to the economic crisis. In 2013 La Rochelle is in
the top ten best destination in France for the tourism, especially due to the historical aspects of
the city.
The Consumer to Consumer market is growing very fast, that kind of business permit
to both actors to better off. The owner of the boats can earn extra revenue, and the consumer
can rent it to a better price. The major company in that sector is AirBnb that company is
growing very fast. That company permit to increase the number of accommodation available
in a city.
They are working well because they are offering a solution to owners who want to
make more money, and to customers who want to save more money.
The industry of residence boat location is a niche market; only few companies are offering
that service. This sectors can grow exponentially because the place in harbors are very
expansive, a detailed price listing is available in Appendix 2. The boats owners are only going
out the harbor between one and two weeks per years, and the costs of maintenance are very
expansive4
. Boats owners have no solution to make extra revenue with their boat. We can see
the multiplication under the last two years of little and medium companies which propose the
same service, the biggest one is Click and Boat.
That why it is interesting to develop a company in the bed and boat sector.
THE CONCEPT
The AU FIL DE L’EAU will propose a Consumer to Consumer service, the company will just
do the link between boat owner and customer, with the website and the physical location. The
company is going to manage a fleet of owner boat and rent them directly to the consumer for
a sleeping use, no sailing. The company will share the revenue with the owner’s boat as 40
4 www.insee.fr/sessi/4pages/214/principal.htm

per cent for the company and 60 per cent for the boat owners. We bring the customer to the
boat, give the keys to them, and do the inventory. The boat owner needs to do the other part of
the work, such as clean the bedding furniture and linens. We are not an estate agency. We are
like a peer to peer company as AIRBNB with a physical location.
The fleet will be divide in two categories:
 Dream boat: Size between 9 and 11 meters, sufficient comfort (toilets, deep water,
kitchen sufficient to cook, Fridge, two rooms). For the showers, customers get free
access to the harbor services.
 Prestige boat : Size between 11 and 13 meters, high comfort, (toilets, shower, deep
water, kitchen sufficient to cook, fridge, electronic material such as micro wave and
television)
All the customer will also have the possibility to use the different service offer by the
harbor, such as Wi-Fi, car-park places, showers, and toilets.
The company is hoping to have a fleet of five Dream boats and three Prestige boats by the
first year these numbers should increase each year to support growth. To have a sufficient
fleet, the company is going to communicate to the boats owner’s.
The hours of operation will be from Monday to Sunday from 10:00 to 17:00. The
company will be open from March to October because of our dependency on weather. Most
of tourist are coming during that time.
The company will have a physical location on the harbor; on a special place reserved
for start-up companies. That location will be well decorating with sailing paints and colorful
chairs and tables. Also some sofas will be displayed on the place for permit a comfortable
wait. The customer could easily find the available boat and all the different information on
our web site.

MARKET ANALYSIS
TARGET MARKET
The main target markets for this concept are:
 Tourists of short and medium stays between 25 to 60 years old.
 The affluent population (Only 54% of the French population went in other city for
holidays in 2012).
 The Nature lovers who are friendly with eco-tourism, our company will be eco-
friendly, meaning we will be careful with our CO2 emissions.
 The sailors who do not have access to a boat or a sail, and want to feel at home.
The secondary targets are:
 Tourist friendly with alternative accommodation solutions, such as sleeping on a
bunk-bed or in a teepee5
.
 International tourist’s especially British tourist, they particularly appreciated come to
La Rochelle.
 People coming for events such as the Grand Pavois (main boat show in Europe6
) or for
the Francofolies detailed information about the events visitors are available in
Appendix 3.
 Professionals who travel a lot and are probably bored with classic accommodations
such as hotels.
5 http://www.saguenaylacsaintjean.ca/fr/175raisons/hebergement-alternatif/parce-que-dormir-dans-les-arbres,-c%E2%80%99est-branche
6 www.grand-pavois.com

MARKET SIZE
To evaluate the number of tourist in La Rochelle, I combined the number of people arriving
between April to September by different transportation in 2013 graphics are visible in
Appendix 4.
- By plane = 168989 People came to La Rochelle Between April to September
- By train = 1000000 People came to La Rochelle Between April to September
- Coach = 300000 People came to La Rochelle Between April to September
No information about tourists coming by car (most important part of the tourism traffic)
We can Estimate the number of tourist in 2013 between 1.8 and 3 million. Recently a
journal said “With 3 million visitors, La Rochelle is the third most visited place in France”7
The company estimated to receive around 0.25% of these visitors.
Business people represent 40 per cent of the La Rochelle night stay, around 150,000 in
2013. Business people represent an important part of the market. Ratio of the business people
coming to La Rochelle is available in Appendix 5.
387078 Nights were spent in 2013 for the hotel industry; detailed graphic by number of
night spent per month is available in Appendix 6. The goal on the long term for the company
is to have two per cent of this market. During the first year, the company is planned to reach
4193 nights that mean around 1.2 per cent of the market. (See graphic below)
.
7
http://www.tourisme4pro.com/article.php3?id_article=55
Camp ground
13%
Hotel
36%
Au fil de l'eau
1%
Collective
accomodation
20%
Bed and
Breakfast
2%
Furnished flat
28%
Accomodation market in La Rochelle

ESTIMATED SALES AND MARKET SHARE
Our target demographic is difficult to evaluate, because the number of tourists in La Rochelle
is immeasurable. To do a correct evaluation our estimated sales is based on the filling average
of hotel in the region visible in Appendix 7. Based on our fleet size we can estimated future
sales.
This filling average depends on the month, and this market is influenced by the
weather, where in better is the weather results in more people are coming. With the Appendix
7 we estimated in March, 50 per cent of our boats should be booked this rate to increase to 90
per cent in July and August. The rate for July and August is bigger than the region average,
the reason for this is because our concept is different, innovating, and should attract more
tourist than the hotel industry. The forecast sales for the first year are 337287€.
There is no information about market share because the concept is new, there are only
a few companies offering the same service. In La Rochelle only one company does the same
service as us; “Freesailing” which is a normal rent-a-boat company.
Preliminary sales are outlined in Appendix 1. Sales are expected to increase during the
2nd
and 3rd
year due to the increasing fleet size. The forecast sales increase by 45 per cent the
second year.
COMPETITION
This market is a new market, therefore it is difficult to identify the main competitors. Through
Google research some companies who had the same service were identified, they rent boats
from owners to consumers. In fact many of these companies rent boats as accommodation, but
it is not there principal service (they also rent boat for sailing). The few companies below
represent some of the actors in the residence boat sector. There are many sole proper-ship
companies who offer only one boat per location. These companies are principally created by
owners, who want to create a little bit of money by lending out boat.

IN FRANCE IN GENERAL
AIRBNB (www.airbnb.fr) Airbnb was created in 2008 by two Americans. It is a website for
people to rent out lodging. It has over 800,000 listings in 33,000 cities and 192 countries.
This website is a peer-to-peer website where people post an offer and the website publishes it
to all the visitors, while in exchange the consumer paid between 6 and 12 per cent in booking
fees. The company has proposed an innovative accommodation such as residence boat. In
France the company proposed 256 boats, so it’s the main competitor of my company.
CLICK AND BOAT (www.clickandboat.com) the new “Airbnb” for the boat created in
2013, the website contains more than 200 offers in France. This company is number one in
the sector, and the company creates a link between consumer and boat owner. The concept is
the same, the company is only a peer-to-peer website where the people post an offer, and the
website earns money with commission. The company has offer for sailing and also for
residence boat.
HOME HOLIDAY (http://www.homelidays.com/). Home Holiday is one of the biggest
Consumer to Consumer company on the accommodation sector. This company’s propose just
a link between consumer and owner. This company has 680.000 accommodations in 190
countries. The company has only 27 boats in locations around the wharf in France. This
service is only a very small part of the company.
SEASETANDSUN (www.seaseteandsun.com). A destination management company of the
city of “SETE “(south of France). This company has 6 boats in its location. This company
creates a link between others companies who possess only a few boats (less than three) and
rent them to customers.
HOUSE BOAT (http://www.houseboat-golfesainttropez.com) Created in 2005 House boat is
the first real company who proposed “residence boat “. This company has different services
from normal rent-a-boat services including sail boat, motor boat, yacht, as well as
maintenance servicing and boat selling. The fleet of residence boat contains nine boats in six
locations only on the south of France.

MARKETING PLAN
PRICING
The pricing strategy employed will be that of a normal hotel. Based upon similar concepts in
France, the average boat cost for a night is around 60€ for a Dream Boat for two people, a
detailed price list is available in Appendix 8. AU FIL DE L’EAU will not be competing on
price, but rather will be focusing on value and service. The prices of the company are close to
normal hotel price, the customer can enjoy a new experience for the same price. In support of
the strategy, the tourist focus groups are able to pay a little more to change their habits. The
fleet will be sanctioned by employees to ensure the best quality for customers.
However after the second year of operation, net income is forecast to be more than 40
per cent the industry average. Although the break-even sales volume of 327010€ € is expected
to be achieved the first year, the restaurant expected to has a 277€ profit. The company is
expected to have benefit of in the second year. This information is very important, due to the
inexpensive starting cost of our company.
ADVERTISING AND PROMOTION
A multi-faceted promotional campaign is planned for the official launch of the concept and
the grand opening of the company. A complete summary of the first-year marketing budget is
shown in (Appendix 9). Based on first-year forecast sales of 337287€, this would put 18400€
into the advertising budget the first year, including the creation of the website. This is normal
for an innovative company, which needs to acquire notoriety. We spend around six percent of
our forecast in advertisements, and this number is planning to grow by one per cent per year.
To help build brand awareness and to support general inquiries, a Web site will be
developed and will go “live” approximately one month prior to the grand opening. The Web
site will be established to ensure that information about the concept of “AU FIL DE L’EAU
“ is readily available to customers who use computers: in our days around 70 per cent of the
hotel bookings are coming from Internet. The site will include pictures of our company, as
well as different boats available and information about them. The website would also include
a booking system, where people pre-pay for the boat. The website would also permit to

owners to ask for information about the service. The company “webgazelle”
(http://www.webgazelle.net) is going to develop our website for a quoted 2500 € fee plus 25€
per month for updating.
The marketing program will also include strong communication to the boat owners. Without
them, the company cannot work. To convince them we have three solutions:
 Ask the harbor with compensation, to give us the data of the boat owners, these
information includes; phone number, address, and e-mail so we can easily contact
them. The more owners we convince, the more successful would be the company. The
data of the harbor contains approximately 5000 people. The price estimated is 100€.
 We can also directly speak to the owners on the harbor, by explaining them our
concept and ask them if they are interested or not. The advantage of this
communication is that it costs us nothing.
 For the people who are not available on the harbour we can just leave some flyers on
the boat. We have anticipated to buy 3000 flyers.
The company also needs to create a Facebook page where the consumers can follow it. This
new Facebook page creates a link between consumer, owner, and the company. We thought to
create an opening event on the harbor of La Rochelle, this event will be also visible on our
Facebook page. In the future we will also create special offers, such as “winning a night in a
boat”
Also the company will advertise to the people who live in La Rochelle on Facebook. To
advertise effectively on Facebook, the rate start at two euro per day.
The marketing program also to posts flyers on different shops of La Rochelle.
Including L’hostel of La Rochelle, the captaincy of the harbor, tourist board, and bakers near
the harbor. All these place are typically where the tourists are going when they are in La
Rochelle.
The production of 1000 flyers cost approximately 37€. The company is planning to
distribute 3000 flyers, so the cost should be approximately 111€8
.
8
http://www.rapid-flyer.com/6-flyers/248-500-gratuits-10x14-a6

During the beginning of March, the company will organize a grand opening. During
this opening consumers, owners, and employees will interact with each other. Some foods,
drinks, and flyers will be also available. This event will be also visible on Facebook and on
flyers. During this time we will put on a promotional event and the winner will receive the
first night on the boat free.
After the grand opening, the company will advertise in the sailing magazine “Bateau”.
I sent a message to the director of communication of “Bateau”; he said the cost for a full page
is 800€. The mail is visible in Appendix 10. This publication permits a perfect segmentation
to the target consumer. The company will advertise in the magazine every month because this
allows the company to have advertise also on the “Bateau” website.
The last marketing operation is the participation of the Grand Pavois event, one of the
main sailing exhibitions in Europe. With 93,000 visitors last year, and around 500 companies
present day, this is the place to be. The cost to have a nine square meters stand is 272€, and
1829€ to be here for the six days of the event, from the 17th
of September to the 22nd
of
September. This does not include the price of chairs, tables, and goodies. The estimated total
is 3000€. This event offers a great opportunity for the company to show its concept to visitors,
and attract more consumers. Another advantage of this event is the increasing number of
consumer demand during this period. La Rochelle is not able to give accommodations to all
these visitors, to compensate for this demand, the visitors can sleep in our boat, which
matches with the population of the event. Different communication expenses are available in
Appendix 11.

MANAGEMENT TEAM
Damien Fleury is the part owner and general manager of AU FIL DE L’EAU and will be
responsible for the overall operation of the business and accounting. Basic accounting
software will be utilized to maintain a system of bookkeeping. The rest of the accountant
work will be done by Pierre Folet an accountant and friend of Damien. The prices for this
work is visible in Appendix 7. Damien received a Bachelor in Business and Administration
from the Business school of La Rochelle in France.
Damien has been a sailor since his childhood. He participated in more than 100 sailing
competitions, he really knows the market.
Damien learned entrepreneurship during his two years in France and in Canada.
Everybody recognizes Damien is someone with high creativity potential and strong
management skills.
Damien already has many work experiences, such as intern at the Hertz Europe headquarters.
Damien was working in marketing and in a partnership position. He is the son of a successful
entrepreneur, Jean Pierre Fleury, who created “Odyssée Technologie” in 2004.
With his knowledge and the knowledge of his fathers the creation of the company is going to
be easy.
Gauthier Dufour is the other manager and will be in charge of running the day-to-day
operations. Gauthier has an engineering scholarships specialized on Information
Technologies. The working experience of Gauthier were focused on website creation, and e-
advertising. He will be in charge of the marketing, and the management of the website. He
also does the different reports to follow the development of the company.
MANAGEMENT COMPENSATION
-Damien Fleury will earn 2000€ per month; due to the good result of the first year, the pay
will increase by ten per cent per year.

-Gauthier Dufour will receive a salary of 2000€ per month, due to the good result of the first
year, the pay will increase by ten per cent per year.
-The two mangers would receive dividend if the company is profitable. It is quite interesting
in this case, because the company will be profitable for the second year, which permits the
two managers to earn a good salary. These two people will work all year. The company will
be open from March until October. During the rest of the year, the company will need to
communicate, to find other boat owners. They also need to find new ideas.
The wage indicated are without any additional charges. The calculation to know the exact cost
of wage for the company is salary x 1.33. This calculation is only true for France.
For example for the real cost of the two managers for the company is:
4.000€ x 1.33 = 5320€
SHAREHOLDERS
Damien Fleury and Gauthier Dufour are shareholders of the business, with 50 per cent for
each person as a result of the 20000€ initial investment.
ADVISORY TEAM
To successfully launch and develop a new venture like this, a team of advisers has been
assembled to support the management team. The team has been selected on their relevant
expertise and proven abilities.
Xioran Huan is a customer specialist.
Xioran is somebody very motivated. She can speak 4 languages; French, Spanish, English,
and Mandarin. With all these abilities she is able to speak to any customer. She has a Master
of Business and Communication. She has already worked for hotels, such as the Hilton. .

OPERATION PLAN.
LOCATION
The city of La Rochelle is the perfect place to launch our concept. The harbor of La Rochelle
is the biggest in the Atlantic coast. With the 2014 expansion, the number of places is now
around 50009
. Also La Rochelle is an important city for tourism in France and there are not
enough accommodations there. The city only offers two camp grounds, 48 hotels, and 11
collective accommodations10
. For around 3 million tourists per year it is a very low amount.
La Rochelle is attractive because there are a lot of events there, such as the Francofolie
Festival (120.000 people) and the Grand Pavois of La Rochelle (92.000 people) 4
.
The site chosen for the initial location at Pépinière d'entreprises Créatio® SERVICES - 1 rue
la Trinquette - 17000 La Rochelle; the location is visible in Appendix 9. This place is reserved
for the startup company, which must be near the harbor.
FACILITIES.
This place is specially built for the new start-up companies and the services include4
:
 28 places from ten to 55 square meters.
 Maximal duration of the contract: two years.
 Price of the rent per square meter: eight euros per month.
 The company has more benefit: access to meeting rooms, to the fitness center, and
postal service.
The company is planning to use 50 square meters which comes at the price of 400€ per
month. It is a really good price! That corresponds to 5.000 € per year. The “Pepiniere” is not
9 http://www.portlarochelle.com
10 http://www.larochelle-tourisme.com/files/ot-larochelle/files/fichiers/bs13_document.pdf

asking for a damage deposit or a lease. All conditions are built to help the startup companies
to grow fast.
Morever, there are other benefits to being located in that area especially:
 Personalized Coaching to develop the skills of the entrepreneur in business strategy,
sales techniques, marketing, management and finance.
 Mobilization of experts for a specific need: innovation, funding, regulation, recruit-
ment.
 Networking: advisors make linking with other economic players in industries, part-
ners, customers and suppliers.11
The vitrine of the company will be represented decorate with the a logo. The cost is estimated
at around 100€ (personal estimation).
It is the perfect place for a company like us.
EQUIPMENT
A wide variety of equipment is required to ensure that the company is capable to receive and
work in optimal condition. Due to the specific nature of some equipment, and the need for a
good ratio price/quality our two equipment suppliers are Metro and Amazon.
A detailed equipment listing can be found in Schedule 1.
The price listed includes delivery and setting in place. The location where the operation would
be made requires furniture such as: Computers, tables, chairs, a scanner, a printer, and a cash
register. To permit the customer to have a comfortable wait, the place will be furnished with a
couch and a coffee machine. The boat owners will be in charge for all the bedding furniture
and linens. They must clean the boat between each location. The owners must provide a clean
boat with functional equipment, all the boats will be checked before and after each location.
11 http://eco.agglo-larochelle.fr/creatio-services

SUPPLY CHAIN
All the website will be developed by “webgazelle “.
The company webgazelle is going to develop our website for a quoted price of 3,000 € 12
for
the “pack comfort” including; test before validation, anticipated study, ten pages of content,
five word reference in Google such as “ rent-a-boat La Rochelle”.
The price per month for maintenance and updating is 24.90€13
. This pack will include: A ca-
pacity to receive 10000 visitors per day on the website, 24 mail boxes, and a 24/7 customer
hotline.
HUMAN RESSOURCES
AU FIL DE l’EAU, will employ 2 managers, and one saleswoman. Xioran Huang: She will
only work during the opening period (March-October). She wants to be able to go back to
China to see her family and her children. She is going to earn 1500€ per month. To keep this
employee in the company she is going to earn ten per cent more per year.
2 Seasonal workers:
They are coming to help the three other employees during the high demand season which is
July and August. They must have previous experience in the hotel industry during more than
six month period. They must be professional and selected according to different criteria such
as: The capacity to speak English, the capacity to speak professionally. A test of one day
would permit to see the ability of the worker, to be able to satisfy the customer and
company’s needs. To entice an employee in this environment of low unemployment, the wage
of 1120 € will be paid to all the seasonal workers.
Every effort will be made to create a fun, stimulating, and rewarding environment where
employees feel motivated and unstressed. These promotions will include sailing trips and/or
sailing competitions, to create an organizational culture which increases the implication of
each employee in the company.
1 More salesman/woman per year.
To respond to the fleet size increase, the company is going to recruit one more
salesman/woman per year. The salary of the new employee will be 1500€ per month.
That employee will earn ten per cent more per year.
12+4 http://www.webgazelle.net/packs-webgazelle-tarifs.php

REGULATORY REQUIREMENTS
The Consumer to Consumer industry has no specific laws. But the company needs to have
several permits and licenses that will be obtained prior to the opening.
Creating a name has a cost for the company; the name needs to be recognized and registered
by the government. After that registration, nobody can copy the name of the company, or
counterfeit our name for other uses.
 The company must be registered in the chamber of commerce for 84.24€.
 The company must be registered in the work directory for 200€.
 The company must publicize their creation information in the “journal d’annonce
légales” for 190€.
The total expense is 474.24 € 14
.
INSURANCE PLAN
MACIF insurance has developed a comprehensive program for companies such as AU FIL
DE L’EAU. There are several keys elements to the insurance plan.
Firstly, the business premises insurance will provide coverage for loss of physical as-
sets, including equipment such as computers, inventory, and improvements/betterments. Cov-
erage is based on replacement cost of equipment, fixtures, and actual cash value on inventory.
Secondly, the general liability coverage will cover liability to customers injured on
the premises, or off the premises when attributed to services sold by AU FIL DE L’EAU (In
French it is call “responsabilité civile”).
Lastly, business interruption insurance: It is the management of the loss of margin
generated from a disaster, operating costs are also necessary to maintain the results of the ac-
tivity.
This additional kind of insurance permit in the case of disaster to be able to continue the activ-
ity.
The annual price for this package would be from 1000€ per year, and these rates are “from
rates” To be safe with insurance cost prevision, AU FIL DE L’EAU estimated the price at
14 http://www.apce.com/pid571/cout-des-formalites.html

2000€ per year. The prices of the insurance depend of the revenue of the company which is
important. That is why the company decided to overestimate the price. During the second year
the price of the insurance should increase by 400€ because the revenue of the company will
increase.
IMPLEMENTATION SCHEDULE
A comprehensive implementation schedule has been developed to ensure that all phases of the
venture have been adequately planned. The development of the concept has been broken
down into four distinct components:
The preliminary phase took approximately two months to complete, the bulk of which was
involved with the development of the formal business plan. That include market studies, and
research for the location.
The development phase15
:
 Procedures related to the adoption of status
o Deposit the funds constituting the consideration in cash in an escrow account
o Write the S.A.R.L status, including the different owners, with the consideration
and share of each owner.
o Establish a state acts in the name and on behalf of the company in training
 Procedures related to registration
o Registration of company's status
o Publish the information in the “legal news (gazette)” (190€)
o Complete the creation formalities of the company in the chamber of commerce
for 84.24€
o Awareness the society to “La poste” (public postal company).
 Convince the owners to rent them boat by our company. The company must have the
eight boats before the opening.
15 http://www.apce.com/pid1633/creation-d-une-sarl-ou-eurl.html?espace=1&tp=1&pagination=1

This work is expected to be completed by February 15, 2015
The pre-opening phase is primarily involved with three elements: the first element
consists of the hiring of the sales-woman Xioran Huang. The second element involves the
grand opening advertising and promotion campaign, as outlined under the marketing plan.
Lastly, the long-term growth of the company, includes an increasing of the fleet size.
After the following schedule, the company is able to make sale and to be profitable
soon.
FINANCIAL PLAN
FUNDING REQUESTED
The major capital costs involved in launching this company are the fixture, equipment, and
creation of the website. AU FIL DE L’EAU will be financed with a public financial program,
which helps young people to create companies.
After a phone call with Madam Coupel, international chamber of commerce of La Rochelle
responsible, the company is able to have financial help from the government; call NACRE
(Nouvel Accompagnement pour la Création et la Reprise d'Entreprise) translated to English
means: new accompanying for company creation and company recovery by a third person.
This program is divided in three steps:
 First step: Help from a third person to create the business plan, and evaluate the
profitability of the project.
 Second step: Financial structuration, which includes a loan without interest, from 1000
to 10000€ for a maximum duration of three years.
 Third step: Help to start and grow the activity of the company
The company chose to ask for a 10000€ loan for three years duration: the company does not
need a longer duration. During the first year the company will spend 277€ per month to
refund the loan.
This loan will give more security to the company, especially for the first year which includes
lots of expenses. This special loan ensure the saving of money, as usually bankers ask for
interest, which are expensive.

Damien Fleury and Gauthier Dufour are going to invest 20000€ from personal income.
With the personal investment and the loan, the company has 30000 € to start the activity. This
amount is just the right amount because the expenses of the first year are 17000€, and
companies never know what can happen during the first year.
FINANCIAL PROJECTION
Detailed financial projection have been provided in several schedules with this business plan.
As indicated AU FIL DE L’EAU is expected to have no profit, primarily due to important
promotions campaigns. The 327287€ estimated first-year sales figure is expecting to grow to
490933€ at the end of the second year. The second year is expected to be profitable, and the
net profit will be approximately 10000€ the second year. The owners will take 1000€ per
month from the beginning of the second year, to give them some dividend from the initial
investment.
As indicated in the cash flow projection, the 10000€ loan from the government will be
expected to be refunded at the end of the third year. This loan will permit to have more
freedom during the first year.
RISK FACTORS
In undertaking any new business venture, there are many risks that must be identified and
contended with. AU FIL DE L’EAU has identified the key risks present for a company
growing in a niche market. These risks include the risks associated with this particular
concept of residence boats.
1. Estimated Filling average: Sales are based with the filling average of the hotel
industry. These numbers are only average, and nobody really knows what should be
the filling average of the company. The weather can also influence the filling average.
2. Problem to convince boats owner: If at the beginning of the first year the company is
not able to find eight boats the estimated sales will be false.

3. Notoriety problem of niche markets: Customers do not know the bed and boat
industry very well. The company does not know if the target is ready to change her
habits: if habits do not change, the company will invest more money on
communication.
4. The capacity of the owner to clean their boat: They have the possibility to ask
somebody else to do it; if the cleaning work is not well done, the company must break
up the contract with the owner. The customer is satisfaction depends also on the
owner’s ability to give a well-furnished, clean boat.
5. Risk linked with S.A.R.L (Partnership): If one partner died or left the company, the
company is not only losing a partner, it loses also a manager with important skills and
abilities. This could impact strongly the company and the profitability: will take a long
time to find an employee with the same potential.
DIVESTURE/HARBEST STRATEGY
In the event that one of the owners desires to exit the business, every attempt will be made to
sell the business. If a sale cannot be made, however, the assets of the business will be sold off
individually. But in fact, a company like AU FIL DE L’EAU would be easy to sell, because it
is a profitable company, and has an innovative concept. The price of the company will be
important.
Large National hostel chain may be attracted to acquire the business, which could be a
a serious competitor in touristic cities in the future.

FINANCIAL STATEMENT
FINANCIAL STATEMENT ................................................................................................. 26
SCHEDULE 1: AU FIL DE L’EAU START UP FUNDS.................................................. 26
SCHEDULE 2 CASH FLOW STATEMENT YEAR ONE ................................................ 27
SCHEDULE 3: CASH FLOW STATEMENT YEAR TWO .............................................. 28
SCHEDULE 4: INCOME STATEMENT ........................................................................... 29
SCHEDULE 5: BALANCE SHEET.................................................................................... 30
SCHEDULE 1: AU FIL DE L’EAU START UP FUNDS

SCHEDULE 2: CASH FLOW STATEMENT YEAR ONE

SCHEDULE 3: CASH FLOW STATEMENT YEAR TWO

SCHEDULE 4: INCOME STATEMENT

SCHEDULE 5: BALANCE SHEET

BIBLIOGRAPHY
1. Key number for tourism in La Rochelle in 2013
http://www.larochelle-tourisme.com/files/ot-larochelle/files/fichiers/bs13_document.pdf
2. The Charente-Maritime tourism number
http://www.tourisme4pro.com/article.php3?id_article=55
3. Ranking of country by number of tourist in 2013
http://www.entreprises.gouv.fr/
4. New alternative accommodation: Sleep on the three
http://www.saguenaylacsaintjean.ca/fr/175raisons/hebergement-alternatif/parce-que-dormir-
dans-les-arbres,-c%E2%80%99est-branche
5. Number about the event “The Grand Pavois”
www.grand-pavois.com
6. Price of the Flyers
http://www.rapid-flyer.com/6-flyers/248-500-gratuits-10x14-a6
7. Special place for new start-up company
http://eco.agglo-larochelle.fr/creatio-services
8. Harbor expansion information
http://www.portlarochelle.com/
9. Price for website creation; all inclusive
http://www.webgazelle.net/packs-webgazelle-tarifs.php
10. S.A.R.L Creation fees
http://www.apce.com/pid571/cout-des-formalites.html
11. S.A.R.L Creation information
http://www.apce.com/pid1633/creation-d-une-sarl-ou-
eurl.html?espace=1&tp=1&pagination=1

APPENDICES
APPENDIX 1 PRELIMINARY SALES FORECAST........................................................ 33
APPENDIX 2: PRICE OF A PLACE IN THE LA ROCHELLE HARBOR................... 37
APPENDIX 3 : NUMBER OF VISITOR PER EVENT IN LA ROCHELLE ................. 38
APPENDIX 4: NUMBER OF VISITOR COMING IN LA ROCHELLE........................ 39
APPENDIX 5: PART OF THE BUSINESS PEOPLE IN THE HOTEL INDUSTRY OF
LA ROCHELLE..................................................................................................................... 41
APPENDIX 6: NUMBER OF NIGHT SPEND IN LA ROCHELLE ............................... 42
APPENDIX 7: FILLING AVERAGE OF THE HOTEL OF THE HOTEL OF THE
REGION.................................................................................................................................. 43
APPENDIX 8: PRICE OF THE COMPETITOR FREESAILING .................................. 44
APPENDIX 9: MESSAGE FROM THE “BATEAU” COMMUNICATION DIRECTOR
.................................................................................................................................................. 45
APPENDIX 10 EQUIPMENT PRICE LIST....................................................................... 46
ANNEXE 11: PRICE OF FIRST YEAR ACCOUNTING BY PIERRE FOLET............ 47
APPENDIX 12 MARKETING COST FOR THE FIRST YEAR...................................... 48
APPENDIX 13: PLACE OF THE FUTUR LOCATION OF THE COMPANY............. 48
-

APPENDIX 1 PRELIMINARY SALES FORECAST
Beginning of the activity anticipate for February first sales anticipated in March.
Estimation of the size of the fleet for the three first year (Personal estimation):
Dream boat Prestige boat
1styear 5 3
2ndyear 7 5
3rdyear 9 7
Filling average by month (sources INSEEC Charente-Maritime) :
March April May June July August September October
Seasonality Low Low Medium Medium High High Medium Low
Level 50% 50% 70% 70% 90% 90% 70% 50%
Fee schedule for customers:
Low season Medium season High season
Price for a Dream boat for one
night for 1/2 people
50€ 70€ 90€
Price for a Dream boat for one
night for 3/4 people
90€ 110€ 130€
Price for a Prestige boat for
one night for 1/2 people
80€ 100€ 120€
Price for a Prestige boat for
one night for 3/4 people
120€ 140€ 160€

Determination of annual sales forecast for the first year:
Low season
Medium
season
High season
Number of boat 8 8 8
Number of day 91 91 61
Number of month 3 3 2
Number of night possible 2184 2184 976
Level of average filling 50% 70% 90%
Estimated Number of Night 1092 1528,8 878,4
Number of night for Dream Boat 682,5 955,5 549
Number of night for Prestige boat 409,5 573,3 329,4
Percentage of Booking for one to two people 80% 60% 60%
Percentage of Booking for three to four people[1] 20% 40% 40%
Revenue Generate by Dream boat 39 585 € 82 173 € 58 194 €
Revenue generate by Prestige boat 36 036 € 66 503 € 44 798 €
Total for the period 75 621 € 148 676 € 102 992 €
Revenue first year 327 289 €

Determination of annual sales forecast for the second year:
Low season Medium season High season
Estimated Number of
Night
1638 2293,2 1317,6
Number of night for
Dream Boat
1023,75 1433,25 823,5
Number of night for Pres-
tige boat
614,25 859,95 494,1
Percentage of Booking for
one to two people
80% 60% 60%
Percentage of Booking for
three to four people[1]
20% 40% 40%
Revenue Generate by
Dream boat
59 378 € 123 260 € 87 291 €
Revenue generate by Pres-
tige boat
54 054 € 99 754 € 67 198 €
Revenue second year 490 934 €

Determination of annual sales forecast for the third year:
Low sea-
son
Medium season High season
Estimated Number of Night 2184 3057,6 1756,8
Number of night for Dream Boat 1365 1911 1098
Number of night for Prestige boat 819 1146,6 658,8
Percentage of Booking for one to two people 80% 60% 60%
Percentage of Booking for three to four people[1] 20% 40% 40%
Revenue Generate by Dream boat 79 170 € 164 346 € 116 388 €
Revenue generate by Prestige boat 72 072 € 133 006 € 89 597 €
Revenue first year 654 578 €
Sales forecast for the next three years:
1ndyear 2ndyear 3rd year
Revenue by year 327289€ 490934€ 654578€
Revenue for the three first
year
1472801€

APPENDIX 2: PRICE OF A PLACE IN THE LA ROCHELLE
HARBOR
Source: http://www.portlarochelle.com

APPENDIX 3 : NUMBER OF VISITOR PER EVENT IN LA RO-
CHELLE

APPENDIX 4: NUMBER OF VISITOR COMING IN LA RO-
CHELLE
Number of visitor coming by plane from April to September in 2012 and 2013
Number of visitor coming by train in from April to September in 2012 and 2013

Number of visitor coming by bus in from April to September in 2012 and 2013

APPENDIX 5: PART OF THE BUSINESS PEOPLE IN THE HO-
TEL INDUSTRY OF LA ROCHELLE
Ration of professional coming in La Rochelle from April to September in 2012 and 2013

APPENDIX 6: NUMBER OF NIGHT SPEND IN LA ROCHELLE
Number of night spent in La Rochelle from April to September in 2012 and 2013

APPENDIX 7: FILLING AVERAGE OF THE HOTEL OF THE
HOTEL OF THE REGION
Filling average for the hotel industry in La Rochelle from April to September in 2012 and
2013

APPENDIX 8: PRICE OF THE COMPETITOR FREESAILING
Source : www,freesailing,com

APPENDIX 9: MESSAGE FROM THE “BATEAU” COMMUNI-
CATION DIRECTOR

APPENDIX 10 EQUIPMENT PRICE LIST

ANNEXE 11: PRICE OF FIRST YEAR ACCOUNTING BY
PIERRE FOLET.

APPENDIX 12 MARKETING COST FOR THE FIRST YEAR
Selling (direct costs)
- Printing flyers (3000) : 111€
Advertising
- Newspaper and internet sampling campaign on the magazine 9600€
“Bateaux”
- Participation of the “ Grand Pavois” saloon 3,000€
- Opening event 2,000€
- Data from the La Rochelle harbor 100€
- Advertising on Facebook 720€
Sales promotion (free night) 120€
Web site For the creation 2,500€
- For the updating 250€
TOTAL 18400€
APPENDIX 13: PLACE OF THE FUTUR LOCATION OF THE
COMPANY
This image is a view of the initial location : Pépinière d'entreprises Créatio® SERVICES - 1
rue la Trinquette - 17000 La Rochelle

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