How to succeed with diversification

An overview of the CLA's most recent member event
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CLA East recently held an event to help members understand how a rural diversification project can become a success story.

The event was hosted at The Granary Estates, a spectacular wedding and events venue situated in a 16th century barn on the Suffolk/Cambridgeshire border. CLA specialists talked through key diversification considerations, introduced the CLA Tourism Strategy and discussed areas of lobbying currently being undertaken on behalf of members.

Representatives from the tourism, leisure and events team at Savills discussed the positives and potential pitfalls of operating a diversification project in-house and whether outsourcing to a third party is an option to be considered. They covered weddings venues, holiday accommodation and glamping as well as outdoor events and festivals.

Speakers from Anglia Rural Consultants talked about the pitfalls to avoid when undertaking a diversification project and update on potential grants available. Ensors Accountants were also on hand to chat through some of the financial considerations.

A number of case studies were presented from those who have undertaken ambitious diversification projects of their own.

You can view the slides from this event here >

Below are links to useful CLA briefing notes that were discussed at the event

The basic elements of a business plan

A business plan template

Presenting the business plan

Financial analysis and planning

Management and operations

Market research and analysis

The executive summary

The aims and objectives of the business plan

The market place

The importance of business planning

The advantages of the business plan and the common mistakes