GlenWyvis Community Benefit Society Visitor Centre Business Plan BY INVESTING IN OUR COMMUNITY SHARES YOU WILL HELP PUT WHISKY DISTILLING BACK AT THE HEART OF THE HISTORIC HIGHLAND TOWN OF DINGWALL. GlenWyvis Built on history… Powered by nature B A C Community Benefit Society K www.glenwyvis.com Registration Number: 7305 www.facebook.com/glenwyvis A @glenwyvis GlenWyvis Community Benefit Society – Visitor Centre Business Plan 1. Outline Case for Support ...................................................................................................................... 1 2. Introduction and Background .............................................................................................................. 3 3. Mission Statement and Objectives ....................................................................................................... 4 4. Legal structure and governance ........................................................................................................... 5 5. Vision: the Project in 5 years’ time ....................................................................................................... 6 5.1. Glenwyvis: the Whisky USP .......................................................................................................... 7 5.2. Exhibitions ................................................................................................................................... 9 5.3. Shop........................................................................................................................................... 10 5.4. Whisky tours and tasting events ................................................................................................. 10 5.5. Bistro - bar and café ................................................................................................................... 11 5.6. Community Cinema and Film Club / Events Space ...................................................................... 11 6. Social, economic, and environmental benefits ................................................................................... 12 7. Stakeholder support .......................................................................................................................... 13 7.1. Stakeholder Strategies and Action Plans ..................................................................................... 13 7.2. Destination Tourism: The NorthCoast500 ................................................................................... 14 8. Markets / demand ............................................................................................................................. 16 8.1. International Tourism in the Highlands ....................................................................................... 16 8.2. Domestic Tourism ...................................................................................................................... 17 8.3. Whisky tourism .......................................................................................................................... 18 8.4. Whisky Visitor numbers ............................................................................................................. 20 8.5. Renewable Energy...................................................................................................................... 20 8.6. Renewable Energy visitor numbers ............................................................................................ 21 9. Spend per Visitor ............................................................................................................................... 24 9.1. Entry Price.................................................................................................................................. 24 9.2. Shop spend ................................................................................................................................ 24 9.3. Tours and events ........................................................................................................................ 24 9.4. Market comparisons for Spend per Visitor ................................................................................. 25 10. Development costs & funding, including demolition and new build costs ....................................... 27 10.1. The Site and Building .............................................................................................................. 27 10.2. Development Costs ................................................................................................................ 30 10.3. Development funding ............................................................................................................. 31 11. Summary income and expenditure over the 3 year period ............................................................. 32 11.1. Overall income and expenditure ............................................................................................. 32 GlenWyvis Community Benefit Society – Visitor Centre Business Plan 11.2. Visitor numbers ...................................................................................................................... 33 11.3. Spend per visitor .................................................................................................................... 34 11.4. Income from cinema and café / bar ........................................................................................ 35 11.5. Total Sales .............................................................................................................................. 36 11.6. Cost of goods sold .................................................................................................................. 36 11.7. Salaries and wages costs ........................................................................................................ 37 11.8. Other costs ............................................................................................................................. 38 11.9. Seasonality of Operating Profit (EBITDA) ................................................................................ 39 12. Cash flow forecast and working capital requirements .................................................................... 40 13. Balance Sheets ............................................................................................................................... 42 14. People ........................................................................................................................................... 44 14.1. Founding Board of Directors ................................................................................................... 44 14.2. Operations Management ....................................................................................................... 44 14.3. People skills and resources ..................................................................................................... 44 15. Risk management .......................................................................................................................... 45 16. Appendices .................................................................................................................................... 47 16.1. Legal Structure: Pros and Cons of Charity ............................................................................... 47 16.2. Whisky Tourism: visitors by visitor centre ............................................................................... 49 16.3. North Highland and Skye Visitor Attraction destinations: ....................................................... 50 17. Detailed financial information ........................................................................................................ 51 17.1. Quarterly Income Forecasts 2019 - 2021 ................................................................................ 51 17.2. Quarterly Cash Forecast 2019 - 2021 ...................................................................................... 52 GlenWyvis Community Benefit Society – Visitor Centre Business Plan 1. Outline Case for Support This Business Plan is for a new Visitor Centre in Dingwall, Ross-shire, strongly linked to the new GlenWyvis Distillery and themed around whisky, related aspects of Scottish History, and the innovative use of renewable energy at the Distillery. This Visitor Centre and the Distillery are at the core of a wider plan to recreate Dingwall as the Craft Distillery Town of Scotland, and to work in partnership with others to establish Dingwall as a quality tourism destination on the North Coast 500 route and as an attractive day trip from Inverness. The Mission and Objectives of the Visitor Centre are: To deliver a high-quality, unique visitor experience, providing social and economic benefits to the Dingwall community by: Providing a high-quality visitor attraction to UK and international visitors, and so establishing Dingwall on key tourism routes as the Craft Distillery Town of Scotland; Building community links to arts and culture through hosting a Community Cinema and resulting partnership with Dingwall Academy and Inverness College UHI to create artwork; Hosting a Social Enterprise Bistro, providing employment and training opportunities to address Dingwall’s areas of multiple social and economic deprivation. The Centre will be part of the GlenWyvis Community Benefit Society, set up to provide