Strike While the Iron Is Hot: A Case of Market Opportunity for the Sydney Conference and Training Centre

Analysis of the business environment is a complex process and covers multiple variables. Owners of facilities need to weigh up the future business opportunities against their investment philosophy, objectives and policies when making decisions about future investments. The independently owned and operated Sydney Conference and Training Centre (SCTC) has been part of the Northern Beaches for over six years, predominantly serving small corporate groups. When the new owners purchased the property in 2016, they were confident that the business model was sound and that the centre would continue to prosper. However, the business environment changed, and the new owners began to see profits dwindling. More modern and more versatile properties opened their doors in competition with the SCTC, customers began to demand more, and staff became more challenging to recruit. Two years into the venture and the owners need to weigh up future business opportunities and make decisions about future investments.