Sample Business Plan Travel Agency
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Home » Business ideas » Hospitality, Travel & Tourism » Travel & Tour Agency
How to Write a Travel Agency Business Plan [Sample Template]
Are you about starting a travel agency online? If YES, here is a complete sample travel agency business plan template & feasibility report you can use for FREE. The line of business (travel agency) is open to both big time investors who have the financial capacity to invest in the travel and tourism industry and also aspiring entrepreneurs who just want to make a living but don’t have start – capital.
As a matter of fact aspiring entrepreneurs who don’t have start – up capital can start out as freelance travel agents if they are diligent enough, they can build a big and well organized traveling agency. Simply put, travel agencies render services that cover all aspect of traveling. They help their clients in securing visas (especially transit visas), purchase flight tickets, book hotels, book taxi cabs and bus shuttle services and of course make arrangement for site seeing amongst other services.
They work in conjunction with service providers such as airline companies, car rentals companies, cruise lines companies, hotels, railways, tourist sites managers and perhaps interpreters and security agencies (supply of bodyguards et al for celebrities and other VIP clients).
Table of Content
How Do Travel Agencies Make Money?
1. industry overview, 3. our products and services, 4. our mission and vision statement, 5. job roles and responsibilities, 6. swot analysis, 8. our target market, 9. sales and marketing strategy, 10. sales forecast, 11. publicity and advertising strategy, 12. our pricing strategy, 14. sustainability and expansion strategy.
The norm in this industry is that, travel agencies make their money via commission they get by offering traveling related services such as booking for flight tickets, securing transit visas, booking for shuttle buses / taxi cabs, car rentals, hotel bookings and cruise line bookings amongst many other services.
Travel agencies also generate incomes from selling of traveling related insurance policy cover, sale of travel guide books and through the sale of foreign currencies.
A Sample Travel Agency Business Plan Template
Statistics has it that as far back as 2009, the total market size for travel agencies in the united states experienced a sharp decline, dropping from an estimate of $17 billion in 2008 to $14.5 billion. Cruise line booking remains one of the most profitable aspects of travel agencies, as a matter of fact, they handle an estimate of about 77% of bookings in that line of business and also an estimate of about 73% of packaged travel tour as it relate to cruise line services.
It is on record that Brownell Travel which was founded on July 4, 1887 by Walter T. Brownell is the oldest travel agency in the United States of America and it took several years, in the 1920s to be specific for travel agencies to become a popular business that looks promising and profitable.
Available data shows that employment of travel agents is projected to decline 12 percent from 2014 to 2024. This is so because the ability of travelers to use the Internet to research vacations and book their own trips is expected to continue to subdue demand for travel agents.
Since 1995 till date, many airline companies around the globe and most airline companies in the United States of America no longer pay commissions to travel agencies whenever they help clients book airline tickets. What traveling agencies now do is to ensure that they add their commission to the price of the tickets whenever they are selling to their clients.
In recent time, with the advent of the internet and the general public accessing the Internet, many airline companies have started selling their tickets directly to their target market via their online portal. So also it is now easier for other business in the value chain of travels and tours industry to now directly sell their services via their online portal to their target market.
Service providers such as airline companies, car rentals companies, cruise lines companies, hotels, railways, tourist sites managers and perhaps interpreters and security agencies et al. which is why you can’t find any airline company paying commissions to travel agents on each ticket they sold.
No doubt the travel agency line of business cannot be said to be oversaturated despite the challenges most traveling agencies are facing. The source of the challenges cannot be far – fetched, as a matter of fact, with many people swapping to self-service internet websites, the number of available services and even jobs as travel agents is decreasing despite the fact that there are more travelers than ever before.
Some of the factors that encourage entrepreneurs to start their own travel agencies could be that the business is easy to set up and the start – capital is indeed affordable; you can actually start your own travel agency business from the comfort of your home. All you need to do is to create an office somewhere in your house.
2. Executive Summary
Chris Williams Travels & Tours, LLC is a registered and standard travels and tours agency that will be based in Las Vegas – Nevada.
The company will handle all aspect of travels and tours related business such as booking for flight tickets, securing transit visas, booking for shuttle buses / taxi cabs, car rentals, hotel bookings and cruise line bookings amongst many other travels and tours related services such as selling of traveling related insurance policy cover, sale of travel guide books and through the sale of foreign currencies.
We are aware that to run an all – round travel and tour agency can be demanding which is why we are well trained and equipped to perform excellently well. Chris Williams Travels & Tours, LLC is a client-focused and result driven travels and tours agency that provides broad-based experience at an affordable fee that won’t in any way put a hole in the pocket of our clients.
We will offer a standard and professional travels and tours services to all to our individual clients, and corporate clients at local, state, national, and international level. We will ensure that we work hard to meet and surpass our clients’ expectations whenever they hire our services.
At Chris Williams Travels & Tours, LLC, our client’s best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professionals who are well experienced in the travels and tours industry.
Chris Williams Travels & Tours, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.
We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.
Our plan is to position the business to become the leading brand in the travels and tours line of business in the whole of Nevada, and also to be amongst the top 20 travels and tours agencies in the United States of America within the first 10 years of operations.
This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Las Vegas is the right place to launch our travels and tours agency before spreading to other parts of The United States.
Chris Williams Travels & Tours, LLC is founded by Chris Williams and family. The organization will be managed by Chris Williams and other members of his family and partners. He has well over 15 years of experience working at various capacities within the travels and tours industry in the United States of America.
Mr. Chris Williams graduated from both University of California – Berkley (First Degree), and University of Harvard (MSc.) and he is a Certified Travel Agent (CTA), a Travel and Tourism Professional (TTP) and he has a Total Travel Certification (TTC).
Chris Williams Travels & Tours, LLC is going to offer varieties of services within the scope of the travels and tours industry in the United States of America. Our intention of starting our travels and tours agency is to make profits from the industry and we will do all that is permitted by the law in the United States to achieve our business goals, aim and ambition.
Our business offering are listed below;
- Travels and Tours consulting and advisory services for individuals and corporate clients
- Selling of traveling related insurance policy cover, sale of travel guide books and through the sale of foreign currencies.
- Booking for flight tickets
- Securing transit visas
- Booking for shuttle buses / taxi cabs
- Car rental services
- Hotel bookings
- Cruise line bookings
- Our vision is to build a travels and tours agency brand that will become the number one choice for both individual clients and corporate clients in the whole of Las Vegas – Nevada.
- Our vision reflects our values: integrity, service, excellence and teamwork.
- Our mission is to provide professional and trusted travels and tours services that assist individuals, corporate organization and non-profit organizations in organizing all of their travels and tours.
- We are to position the business to become the leading brand in the travels and tours line of business in the whole of Nevada, and also to be amongst the top 20 travels and tours agency in the United States of America within the first 10 years of operations.
Our Business Structure
Chris Williams Travels & Tours, LLC will build a solid business structure that can support the growth of our business. We will ensure that we hire competent hands to help us build the business of our dream.
The fact that we want to become one of the leading travels and tours agencies in the United States makes it highly necessary to deliberately build a well – structured business from the onset. Below is the business structure that we will build Chris Williams Travels & Tours, LLC;
- Chief Executive Officer
Travels and Tours Consultant
Admin and HR Manager
Marketing and Sales Executive
- Customer Care Executive / Front Desk Officer
Chief Executive Office:
- Responsible for providing direction for the firm
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for handling high profile clients and deals
- Responsible for fixing prices and signing business deals
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Reports to the board
- Responsible for booking for flight tickets, securing transit visas, booking for shuttle buses / taxi cabs, car rentals, hotel bookings and cruise line bookings amongst many other travels and tours related services for clients
- Plan, design and produce events while managing all project delivery elements within time limits
- Liaise with clients to identify their needs and to ensure customer satisfaction
- Conduct market research, gather information and negotiate contracts prior to closing any deals
- Provide feedback and periodic reports to stakeholders
- Propose ideas to improve provided services and tourism quality
- Ensure compliance with insurance, legal, health and safety obligations
- Cooperate with marketing and PR to promote and publicize travels and tours events
- Conduct pre- and post – travels and tours events evaluations and report on outcomes
- Research market, identify travels and tours opportunities and generate interest
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Design job descriptions with KPI to drive performance management for clients
- Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defining job positions for recruitment and managing interviewing process
- Carrying out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Oversee the smooth running of the daily office activities.
- Responsible for selling of traveling related insurance policy cover, sale of travel guide books and through the sale of foreign currencies.
- Identify, prioritize, and reach out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Writing winning proposal documents, negotiate fees and rates in line with company policy
- Responsible for handling business research, marker surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develop, execute and evaluate new plans for expanding increase sales
- Document all customer contact and information
- Represent the company in strategic meetings
- Help increase sales and growth for the company
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensuring compliance with taxation legislation
- Handles all financial transactions for the company
- Serves as internal auditor for the company
Client Service Executive / Front Desk Officer
- Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the manager in an effective and timely manner
- Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
- Receives parcels / documents for the company
- Distribute mails in the organization
- Handles any other duties as assigned my the line manager
Chris Williams Travels & Tours, LLC engaged the services of a core professional in the area of business consulting and structuring to assist the firm in building a well – structured travels and tours agency that can favorably compete in the highly competitive travels and tours industry.
Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Chris Williams Travels & Tours, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Chris Williams Travels & Tours, LLC;
Our core strength lies in the power of our team; our workforce. We have a team that can go all the way to give our clients value for their money; a team that are trained and equipped to pay attention to details. We are well positioned and we know we will attract loads of clients from the first day we open our doors for business.
As a new travels and tours agency, it might take some time for our organization to break into the market and gain acceptance especially from corporate clients in the already saturated travels and tours industry; that is perhaps our major weakness.
The opportunities in the travels and tours industry is massive considering the number of individuals, families and corporate organizations who travels on a daily basis within the United States and to other parts of the world. As an all – round travels and tours agency, we are ready to take advantage of any opportunity that comes our way.
Some of the threats that we are likely going to face as a travels and tours agency operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing / spending power. There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.
7. MARKET ANALYSIS
- Market Trends
A common trend in the travels and tours industry is that in recent time, with the advent of the internet and the general public accessing the Internet, many airline companies have started selling their tickets directly to their target market via their online portal.
So also, it is now easier for other business in the value chain of travels and tours industry to now directly sell their services via their online portal to their target market.
The travels and tours industry is in a continuous state of evolution and as such, ground breaking strategies and ideas that are once highly successful are no longer as productive as they were in time past. Close observation of the trend in the industry reveals that the past few years have seen the rise and proliferation of social media and new tech tools.
The trend also extends to increased attention paid to engagement and new market segments, adopting eco-friendly measures and sustainability when planning travels and tours events.
As a matter of fact, social media has now become one of the most important tools travels and tours agencies leverage on to disseminate information about their travels and tours events, interact with clients, solicit feedback, and create year-round engagement with their target audience.
Furthermore, new software apps and emerging technology have made it easier for travel and tours agencies to gather all the needed data and information that will help them plan and project for the future. People that start travel agency can as a matter of fact start the business from a small office space / shared office space and still make headway in the business.
One thing is certain when it comes to travel agency business, you are sure of making profits in form of commissions when you are able to successfully book flight tickets, hotel reservation, taxi cab reservation and any other travel related services for a client. You are going to get your cut as soon as they make payment.
The truth is that, the cost of running a travel agency can be kept to the barest minimum because there are always ways you can cut operational and overhead cost. As a matter of fact, most people that run travel agencies have abandoned the “brick and mortar” agency for a home-based business just for the sole aim of reducing overhead, and maximizing profits.
The demographic and psychographics composition of travel agencies cuts across people from all works of life; there is no clear distinction on those that would naturally need the services of travel agencies. Although a travel agency might decide to concentrate on high – income earning clients, and another travel agency might only concentrate on corporate clients.
The bottom line is that anyone that can afford to travel from one country to another is a potential client for travel agencies.
Although Chris Williams Travels & Tours, LLC will initially serve small to medium sized business, from new ventures to well established businesses and individual clients, but that does not in any way stop us from growing to be able to compete with the leading travels and tours agencies in the United States.
As an all – round travels and tours agency, Chris Williams Travels & Tours, LLC offers a wide range of services hence we are well trained and equipped to services a wide range of clientele base. Our target market cuts across people of different class and people from all walks of life, local and international organizations as well.
We are coming into the industry with a business concept that will enable us work with the highly placed people and companies in the country and at the same with the lowly placed people and smaller businesses. Below is a list of the people and organizations that we have specifically design our products and services for;
- Potential Couples / Young Adults
- Blue Chips Companies
- Corporate Organizations
- Religious Organizations (Pilgrimage journeys et al)
- Political Parties / Politicians
- Households / Families
- The Government (Public Sector)
- Schools (High Schools, Colleges and Universities)
- Sport Organizations
- Entrepreneurs and Start – Ups
Our Competitive Advantage
The level of competitions in the travel agency line of business depends largely on the location of the business and of course the niche of your travel agency. If you can successfully create a unique brand identity for your travel agency or carve out a unique market, you are likely going to experience less competition.
For instance if you are one of the few travel agency in your country or state that handles pilgrimage travels, you are show going to be making constant mega box year after year. This is so because religious faithful are always traveling for pilgrimage journey annually.
Although the competition in the travel agency line of business is not just within travel agencies but also other travel related service providers.
For example, it is now easier for you a traveler to book his or her hotel accommodation, book flight ticket, reserve taxi cab or rent car ahead of his journey from the comfort of his or her home with the aid of the internet simply because most of the service provider are by – passing travel agencies and taking their services directly to their target market.
We are quite aware that to be highly competitive in the travels and tours industry means that we should be able to deliver consistent quality service, our clients should be able to experience remarkable difference cum improvement and we should be able to meet the expectations of both travelers / tourists and our partners (services providers).
Chris Williams Travels & Tours, LLC might be a new entrant into the travels and tours industry in the United States of America, but the management staffs and owners of the business are considered gurus. They are people who are core professionals and licensed and highly qualified travels and tours experts in the United States. These are part of what will count as a competitive advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups travels and tours agencies) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.
- Sources of Income
Chris Williams Travels & Tours, LLC is established with the aim of maximizing profits in the travels and tours industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis and sign retainer – ship with most of our clients.
Chris Williams Travels & Tours, LLC will generate income by offering the following travels and tours services for individuals and for corporate organizations;
One thing is certain; there would always be individuals, families and corporate organizations that would travel on a daily basis within the United States and to other parts of the world.
We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond Las Vegas to other cities in Nevada and other states in the U.S.
We have been able to critically examine the travels and tours market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Las Vegas – Nevada.
Below is the sales projection for Chris Williams Travels & Tours, LLC, it is based on the location of our business and the wide range of travels and tours services that we will be offering;
- First Year-: $150,000
- Second Year-: $350,000
- Third Year-: $750,000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
We are mindful of the fact that there are stiffer competition amongst travels and tours agencies and other related service providers in the United States of America, hence we have been able to hire some of the best business developer to handle our sales and marketing.
Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization.
We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard travels and tours business that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).
Our goal is to grow our travels and tours agency to become one of the top 20 travels and tours agencies in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the Las Vegas but also in other cities in the United States of America.
Chris Williams Travels & Tours, LLC is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our business by sending introductory letters alongside our brochure to corporate organizations, schools, households and key stake holders in Las Vegas and other cities in Nevada.
- Promptness in bidding for travels and tours contracts from the government, religious organizations and other cooperate organizations
- Advertise our business in relevant travels and tours magazines, newspapers, TV stations, and radio station.
- List our business on yellow pages ads (local directories)
- Attend relevant international and local travel and tours expos, seminars, and business fairs et al
- Create different packages for different category of clients in order to work with their budgets and still deliver quality services to them
- Leverage on the internet to promote our business
- Engage direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied clients
We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the travels and tours industry by storm which is why we have made provisions for effective publicity and advertisement of our travels and tours agencies.
Below are the platforms we intend to leverage on to promote and advertise Chris Williams Travels & Tours, LLC;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events / programs
- Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
- Install our Bill Boards on strategic locations all around Las Vegas – Nevada.
- Engage in road show from time to time
- Distribute our fliers and handbills in target areas
- Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our company’s logo et al.
Travel agencies also generate incomes from selling of traveling related insurance policy cover, sale of travel guide books and through the sale of foreign currencies. At Chris Williams Travels & Tours, LLC we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance.
In addition, we will also offer special discounted rates to start – ups, nonprofits, cooperatives, and small social enterprises. We are aware that there are some clients that would need regular access to travels and tours consultancy and advisory services and assistance, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.
- Payment Options
At Chris Williams Travels & Tours, LLC, our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;
- Payment by via bank transfer
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
- Payment with cash
In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.
13. Startup Expenditure (Budget)
Starting a travel and tours agency can be cost effective; this is so because on the average, you are not expected to acquire expensive machines and equipment.
Basically what you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, the amount needed to furniture and equip the office, the amount to purchase the required software applications, the amount needed to pay bills, promote the business and obtain the appropriate business license and certifications.
This is the financial projection and costing for starting Chris Williams Travels & Tours, LLC;
- The Total Fee for incorporating the Business – $750.
- The budget for basic insurance policy covers, permits and business license – $2,500
- The Amount needed to acquire a suitable Office facility in a business district 6 months (Re – Construction of the facility inclusive) – $40,000.
- The Cost for equipping the office (computers, software applications, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $ 5,000
- The cost for purchase of the required software applications – $2,500
- The Cost of Launching your official Website – $600
- Budget for paying at least one employees for 3 months plus utility bills – $10,000
- Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
- Miscellaneous: $1,000
Going by the report from the market research and feasibility studies conducted, we will need over one hundred and fifty thousand (150,000) U.S. dollars to successfully set – up a medium scale but standard travels and tours agency in the United States of America.
Generating Funding / Startup Capital for Chris Williams Travels & Tours, LLC
Chris Williams Travels & Tours, LLC is a family business that will be owned by Chris Williams and family. They are the sole financial of the firm, but may likely welcome partners later which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
It is easier for businesses to survive when they have steady flow of business deals / customers patronizing their products and services. We are aware of this which is why we have decided to offer a wide range of event planning and other related services to both individual and corporate clients.
We know that if we continue to deliver excellent travels and tours services, there will be steady flow of income for the organization. Our key sustainability and expansion strategy is to ensure that we only hire competent employees, create a conducive working environment and employee benefits for our staff members.
In the nearest future, we will explore the options of either selling out franchise or expanding our scope beyond Las Vegas – Nevada to other major cities in the United States of America. We know that if we implement our business strategies, we will achieve our business goals and objectives in record time.
Check List / Milestone
- Business Name Availability Check:>Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of All form of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Generating part of the start – up capital from the founder: Completed
- Applications for Loan from our Bankers: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the Needed software applications, furniture, office equipment, electronic appliances and facility facelift: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business (Business PR): In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with vendors and key players in the industry: In Progress
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Adventure Excursions Unlimited
Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.
Adventure Excursions Unlimited (AEU) was formed to provide hard-adventure sport/travel packages with upscale accommodations, gourmet food, and celebrity service providers to wealthy clients. AEU hard adventures include helicopter-skiing, kayaking, white-water rafting, and mountain biking. The founders of AEU are Jordan Stephan (MBA/JD), Jillyn Certo (MBA), and Loren Harlo (MBA). In addition to their MBA status, they are passionate about the activities AEU will offer.
An opportunity exists for two reasons:
- Tourism is a growing industry (4% annually), and within the industry adventure travel is growing at 10%.
- There are few providers of hard-adventure travel to upscale clients.
Virtually all companies that provide “hard” adventure activities appeal to a lower income client. Companies that appeal to a wealthier clientele generally provide “soft” adventure packages. Hard-adventure activities involve difficult physical requirements. They carry a higher level of risk than do “soft” activities. Soft adventure activities may involve some physical exertion, however they involve a low level of risk and can be engaged in by non-athletic people.
The company’s target customers are high income (min. $75,000 for single person), health-conscious individuals interested in popular hard-adventure sports. These are lawyers, bankers, executives, doctors, etc. The major purchasers are located in urban areas within major United States cities. Our customers are more likely to be married. 51% are men and 49% are women.
In addition, more niche markets are evolving. Initially, it will be difficult to compete with experienced providers, especially market leaders. However, AEU’s target market is an exploitable niche and our service is differentiated. AEU’s target market members will have similar activity interests, more disposable income and less sensitivity to price.
AEU will price its services at the top of the market. We will provide a luxury service with prestige value. Our prices will be out of reach for the majority of adventure travelers. Service will be priced based upon luxury competitor prices and the value added of our offering. Providers that offer luxury services similar to ours do so at similar prices. We are competitively priced in the luxury market. Because we appeal to a smaller market, volume will be limited. However, we will be able to capture a higher gross profit margin.
Adventure Excursions Unlimited’s objectives for the first three years of operation include:
- To create a service-based company whose #1 mission is exceeding customers’ expectations.
- Capturing 25% market share of the high-end hard-adventure travel space.
- To develop a sustainable, profitable business.
- To achieve a 35% return rate of customers within the first three years.
Adventure Excursions Unlimited’s mission is to provide customers with the highest quality outdoor adventure. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall into place.
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- Travel Franchise
How to Create a Business Plan for a Travel Agency
Do you have a passion for travel? Have you ever wondered how could you turn that passion into a business? If so, the next question you could be pondering is how to create a business plan for a travel agency.
At Dream Vacations, we’ve simplified the process of starting your own travel agency. We’ve taken care of the operational details so that you can focus on what you do best – helping people make precious memories by turning their travel plans from a dream into reality! When you become a franchise owner with Dream Vacations, you will work closely with your Business Development Manger who will help you create a business plan for your travel agency, they will help you bring your ideas to life, and give you some new ideas you may not have already thought about.
What Are the Different Types of Travel Agencies?
When you’re looking to start your own travel and leisure franchise , it’s important to know what different types of options you have. With Dream Vacations, you have the option of starting a travel agency with a storefront or kiosk. However, most people choose the option to start a home-based travel agency business. Operating a home-based business gives you, the operator, and your clients the convenience of being at home. It also lets you share your personal experience with your clients and find the best value for the vacation they’re looking for. The great part of operating a home-based business is your operational business expenses are much lower.
When trying to figure out which is the best travel franchise , you should ask a lot of questions about what you get for your franchise fee. Dream Vacations is one of the lowest franchise fees in the industry — as low as $3,500 down to get started — and you get ongoing education and support from a dedicated corporate team and millions of dollars worth of award-winning lead generation and marketing solutions!
What Are the Benefits of Franchises?
Maybe one of the biggest benefits of a Dream Vacations franchise is that it’s a great work-from-home business opportunity ! It is a brand-new day for the travel industry as it is growing fast, and you can be part of it right from the comfort of your home. Dream Vacations offers you a low-cost way to start your own travel business from home. There are lower costs involved and you will obtain a wide range of operational support. Most importantly we will be with you every step of the way so can set up a successful travel business. Owning a Dream Vacations franchise is a great way to generate a secondary income for your family.
In addition, Dream Vacation offers more than 1,500 travel agency training courses to keep you on top of the latest trends in the travel industry. We offer franchisees award-winning online courses, which means you can access it 24 hours a day, seven days a week. You can learn to grow your business on your own schedule!
There are also plenty of opportunities to learn in person. Dream Vacations hosts more than five regional travel agent training sessions every year throughout the United States, as well as exclusive summits that are often held at international resorts. Last, but not least, our annual national conference runs for seven nights aboard a cruise ship! It’s a great way to learn and network with other passionate Dream Vacations franchise owners.
Franchisees also have the opportunity to take “familiarization trips” and experience new resorts, cruise ships and guided tours first-hand at significantly reduced rates. These trips give you the knowledge you’ll need to help your clients’ vacation dreams come true!
With Dream Vacations, you also have the option of becoming a home-based travel advisor . Dream Vacations advisors are independent contractors who are mentored by franchisees and can obtain great travel perks and learning opportunities. You can learn how the travel industry works and learn the best practices for lead generation from the experts themselves and know what personal touch to give to your clients that set a Dream Vacations to travel agent apart from the rest.
Steps to Open a Travel Agency
Opening your own travel agency can be as easy as taking baby steps toward your dream plan! You can take that first step right now by registering for a FREE 45-minute webinar on Dream Vacations’ website. You can watch the webinar live, or have the option to watch an on- demand that fits into your schedule.
If you like what you see in the webinar, we’ll connect you with a Dream Vacations franchise development manager, who will guide you through the entire process and answer any questions you might have. We’ll also get you started on the application process and talk to you about financing. If you’re a military veteran, we can even offer you a discount!
If you’re ready to learn more about how to create a business plan for a travel agency and become a Dream Vacations franchisee, fill out our brief information request or give us a call to get started!
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Travel agency business plan template
Download this travel agency business plan template in PDF or Word format, or tailor it to your project directly in our business plan software.
Discover our travel agency business plan template
Our travel agency business plan template gives you the structure to write a professional plan.
Not accustomed to writing business plans? Our travel agency business template will turn a typically challenging process into a total breeze.
Modelled on a complete business plan of an travel agency in Trouville sur Mer, our template features both the financial forecast and the written part that presents the project, its team, the local market and the business strategy implemented by the management.
Cast your eyes on this template to achieve a better understanding of what your bank and investors would like to see, so that you can create a business plan that meets their expectations.
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How to use this travel agency business plan template
Edit the travel agency business plan template online, or download it.
There are 3 ways to use this template:
- Edit it online: you can adapt this template to your business idea by changing the text or the financial forecast directly in our business planning software
- Download in PDF: if you're just after a little inspiration, you can download the travel agency business plan template in PDF to read over it
- Download in Word format: want to edit your plan on Word? Simply export the travel agency business plan template to Ms Word (.docx) format
Travel agency business plan template content
This template includes a complete travel agency business plan example, with a financial forecast and the following sections:
- Executive summary: the executive summary gives the reader a clear and concise overview of your business idea
- Company: this section lays out the structure of your business, including its location, management team and legal form
- Products and services: here, you'll give an overview of the services offered by your travel agency (excursions, business trips and international trips)
- Market analysis: the market analysis is where you’ll demonstrate that there is a strong demand for your travel agency through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.)
- Strategy: this section highlights your travel agency's game plan when it comes to pricing, marketing and mitigating risks along the way
- Operations: this step lays out your travel agency's operational organisation, including the recruitment plan
- Financial plan: the financial plan includes a table of sources & uses (initial funding plan), and complete financial statements (P&L, balance sheet and cash flow statements).
- Appendices: this part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.).
Executive summary for a travel agency business plan
The executive summary gives the reader a clear and concise overview of your business idea.
Our travel agency's executive summary is formed of the following subsections:
- Business overview: in this subsection, we outline who the travel agency founders are, what legal form they've chosen for the business, and the rationale behind the choice of their location
- Market overview: in this subsection, we summarize the conclusions of the market analysis performed by the travel agency's owners and explain what age groups they aim to target (our travel agency business plan template targets locals, tourists passing through Deauville-Trouville as well as small and medium-sized businesses in lower Normandy and Paris)
- Financial highlights: in this subsection, we give an overview of the forecasted financial performance of the travel agency over the first 3 years of operation
- Our ask: in this subsection, we outline the amount of financing required to start the travel agency and how it's going to be funded (the founders are seeking a bank loan to start their travel agency)
Company overview included in our travel agency business plan sample
This section lays out the structure of your business, including its location, management team and legal form.
Our travel agency business plan template's company section is formed of the following subsections:
- Structure & Ownership: in this subsection, we outline who the travel agency's shareholders are and what legal form they've chosen for the business
- Location: in this subsection, we present the area surrounding the location chosen for the business and the layout and main features of the premises
- Management Team: in this subsection, we give an overview of the background of each of the travel agency's founders, explain how they met and why they decided to start a company together
Products and services offered by the travel agency
The products and services section is where you will state the different services that your travel agency will offer (trips abroad, excursions and business trips).
In our travel agency business plan template products and services section, we cover:
- Excursions in Normandy: a choice of short trips including both the D-Day beaches tour and cider distillery tour
- International trips: departure from either Deauville or Caen
- Custom-made business trips: a selection of seminars and team-building events in Normandy
Market analysis for the opening of the travel agency
The market analysis is where you’ll demonstrate that there is a strong demand for your products and services through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.)
Our travel agency business plan example's market analysis section is formed of the following subsections:
- Demographics and Segmentation: in this subsection, we explore the market in depth. We look at the supply and demand sides both at the national and local level, analyse the hot trends perceived by the founders, and the key statistics that will help the founders build their positioning
- Target market: in this subsection, our founders explain who they view as their ideal customer (our travel agency business plan template targets locals, tourists passing through Deauville-Trouville as well as small and medium-sized business in Lower Normandy and Paris)
- Competition: in this subsection, we take a look at the direct (independent or franchise travel agencies nearby) and indirect (travel agencies and tour operators online) local competition to ensure we have a differentiated positioning and that the market is large enough to accommodate the arrival of a new travel agency
- Regulation: in this subsection, we give an overview of the main regulation applicable to our travel agency
Setting the strategy for our travel agency
This section highlights the company's game plan when it comes to pricing, marketing and mitigating risks along the way.
Our travel agency business plan template strategy section is formed of the following subsections:
- Pricing: in this subsection, we explain how service rates are decided (our travel agency earns a 13% base rate commission through selling trips for network partners such as Tourcom) and the rationale behind our choice
- Marketing plan: in this subsection, we explain what action we'll put in place to build awareness and loyalty among our travel agency customers
- Milestones: in this subsection, we give an overview of the main goals we set for ourselves for the next 3 years
- Risks and Mittigants: in this subsection, we perform an assessment of the medium and long-term risks that could jeopardize the financial viability of our travel agency and outline how we intend to mitigate them
Operations section of the travel agency business plan template
This part lays out the company's operational organisation, including the recruitment plan.
Our travel agent business plan operations section is formed of the following subsections:
- Personnel plan: in this subsection, we explain what our opening hours will be and explain the responsibilities of each of staff member in our travel agency
- Key assets and IP: in this subsection, we list the assets and intellectual property rights which are critical to our business operations and explain how we will secure and protect each of these
- Suppliers: in this subsection, we give an overview of the main suppliers we will use our what commercial terms have been negotiated with them
Financial plan included in our travel agency business plan template
This section presents the expected financial performance of the travel agency over the next 3 years.
Our travel agency business plan example's financial plan is formed of the following subsections:
- Start-up funding: in this subsection, we list the cost of each item required to launch the travel agency
- Important assumptions: in this subsection, we explain the methodology and the main assumptions used to build the travel agency's financial forecast
- Sales forecast: in this subsection, we detail the expected revenues and growth rate for our travel agency in the coming years
- Cost structure: in this subsection, we list all the expenses required for our travel agency to operate smoothly
- Projected Profit & Loss statement: in this subsection, we analyse our forecasted P&L and comment on the expected profitability of our travel agency over the next 3 years
- Projected cash flow statement: in this subsection, we analyse the expected cash generation of the travel agency
- Projected balance sheet: in this section we give an analysis of the liquidity and solvability implied from our balance sheet
Appendices of the travel agency business plan template
This part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.).
Our travel agency business plan template's appendices include:
- A maturity profile chart showing the principal repayments of their loans over the next 3 years
- A monthly cash flow forecast: showing how much cash is being generated or consumed each month over the first 3 years of operations
Travel agency business plan template sample
Executive summary, business overview.
Bersara Travel Agents will be a travel agency based in the heart of Trouville sur Mer, close to the tourist office.
Our primary aim is to help tourists experience the very best Normandy has to offer.
We will offer customers:
- Excursions within Normandy
- International trips from Deauville or Caen
- Business trips and seminars
Bersara Travel Agents is a limited liability company managed by its two partners - Mrs Sarah F and Mr Bernard T.
Key figures from the French travel industry
Tourism was France's leading industry in 2014 - comprising 7.4% of the economy's total GDP.
Whilst the French travel market was dynamic at the time, it was also on the cusp of change.
In 2013, 8,122 travel agencies generated a combined turnover of €13.7bn (8.6% of the industry's total turnover).
It's estimated that French residents booked 15.4% of their trips through travel agencies or tour operators (including online bookings) in 2014. The market share of travel agencies reached 39.5% of all overseas trips booked by the French.
With over 4 million trips made each year, Calvados is the 8th most visited region in France.
Calvados' main areas of attraction include:
- The 1944 landing sites and corresponding Battle of Normandy tours
- Sites linked to the history of William the Conqueror
- Local produce (visits to cider distilleries and cheese factories)
- Leisure activities (seaside activities, sailing, horse riding, tennis and golf)
The Coeur Côte Fleurie collection of villages, of which Trouville Sur Mer is included, has a year-round population of 20,582. This figure is, on average, six to eight times higher in the summer.
The Trouville Sur Mer tourist office, located near the agency's premises, welcomes an estimated 20,000 people in July.
Business tourism is also very prevalent within Coeur Côte Fleurie, thanks to the Centre International de Deauville (CID). The convention centre is occupied 300 days a year, hosting 150 events and accommodating 200,000 visitors.
We expect our travel agency to be profitable from year 3.
We anticipate that our turnover will increase from €488,025 in year 1 to €789,000 in year 3. The gross margin is expected to remain stable (12%) throughout.
We expect to generate an EBITDA of €-31,222 in year 1, €-13,995 in year 2 and €5,110 in year 3.
Despite the company's loss-making situation in the first two years, the business should be sufficiently capitalised to enable us to meet our loan repayments while retaining sufficient headroom to deal with unforeseen circumstances.
Bersara Travel Agents has a negative working capital requirement, which should give our startup further leeway during the first two years.
Bersara Travel Agents will require an initial investment of €55,000.
Our partners will contribute €50,000 (€25,000 in share capital and €25,000 in directors loan) i.e. 91% of the amount. We would like to obtain a bank loan of €5,000 to complete the financing.
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Quite frankly excellent because I was able to finalize my business plan in less time than expected. This software offers a very coherent and complete approach to writing your project.
It is a very well designed software that allows you to visualise each step of your project, understand if the idea is viable or not and think about the steps needed to start your business.
The software is just impeccable. Of course, it meets the requirements of people starting a business. In addition to having a tool for putting together a proper financial forecast, there is also a tool to help write the business plan.
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Travel agency business plan template faq.
A travel agency business plan is a written document that sets out the commercial, operational and financial objectives of the company over the next 3 to 5 years.
It consists of two main parts:
- A written part that presents, in detail, your travel agency business, the team, your strategy, and your medium-term objectives.
- A financial forecast that highlights the expected profitability of the travel agency and the initial funding requirements.
The lack of business planning is one of the main reasons why more than 50% of startups fail within 5 years. If you're starting a travel agency, writing a business plan is a must-have in order to reduce the risk of failure of your project.
Business plans are also required by most lenders and investors in order to secure financing, therefore a business plan is also highly recommended if you're seeking a loan or equity investment for your travel agency.
Writing a travel agency business plan without The Business Plan Shop can be both error-prone and time-consuming - whether you're new to entrepreneurship or experienced:
- You'll need to research the structure of a business plan, what to include in each section, and what key elements investors and lenders expect to see
- You may encounter writer's block (especially if it's the first time you're writing a business plan for your travel agency)
- You'll need to create a financial forecast on a spreadsheet which requires a solid understanding of accounting and financial modelling in order to be done without error
- You'll need to spend hours formatting financial data on Excel or Sheets before it's ready to integrate into your business plan
- Any updates to your travel agency business plan or financial forecast will need to be done manually
Luckily for you, The Business Plan Shop's online platform and travel agency business plan template guide you through every stage of writing a business plan, so that you can spend more time managing and growing your business instead.
Our editor follows a best-in-class structure for professional business plans. Each section and subsection includes examples and instructions to help you, while our business plan templates provide further inspiration if you're stuck.
Our financial forecasting software helps you create a forecast and integrate it into your business plan with ease. Anytime you update your data, your business plan automatically updates.
And with our forecasting software all the calculations are done for you, without errors.
The budget to start and run a travel agency will depend on the exact concept and location.
If you're starting an online travel agency, your costs are likely to be much lower than if you are going to use a physical location. This is because you will save on rent and overheads amongst other expenses.
If your travel agency is located in the city centre or on any busy high street, you're likely to incur much higher expenses than if you are on the outskirts of a town or city.
A stylish website, that's well designed (professionally), will likely increase your startup costs, in comparison to a simple, yet workable website.
As an example, in our travel agency business plan template the total initial funding requirement amounted to €55,000, with the founders contributing €50,000.
In order to assess the exact budget for your travel agency idea, you need to do a financial forecast using a financial projection tool such as the one we offer .
The package we offer at The Business Plan Shop goes way beyond a simple blank template you need to fill. With our platform you get:
- Access to one of the best business plan software on the market
- Access to our travel agency business plan template which contains a complete example of a written business plan and financial forecast to start a travel agency
- Access to our entire business plan templates library - giving you dozens of examples to take inspiration from
- Access to our financial planning and analysis platform so that you can track the actual performance of your business against what you had planned in your business plan and re-plan easily
But you shouldn't take our word for it: try our solution for free and make your own opinion!
The free trial enables you to try the software for free during 7 days in order to verify that it meets your requirements before buying.
Some features are limited during the free trial, the main limits are:
- You can only create one business plan
- The financials of the first year are visible, but data for other years are hidden
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Other business plan templates and resources to discover
Travel Agency Business Plan PDF Sample Free Download
How to Start a Travel Agency Business - Travel Agency Business Plan PDF
Are you considering starting a Travel Agency Business and are in need of a travel agency business plan PDF? if yes, you'll find this free book to be extremely helpful.
This is a practical guide that will walk you step by step through all the essentials of starting your business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to apply.
Don’t Start a New Travel Agency Business Unless You Watch This Video First!
Checklist for Starting a Business: Essential Ingredients for Success
If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a business. This will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!
Here’s a Valuable Free Gift for You This is a high quality, full blown business plan template complete with detailed instructions and all related spreadsheets. You can download it to your PC and easily prepare a professional business plan for your business. Click Here! To get your free business plan template
The Single Most Important Ingredient for Business Success
The first and most important thing you need to acquire in order to succeed in a small business is... knowledge.
Sounds exaggerated? Listen to this...
According to research conducted by Dun & Bradstreet, 90% of all small business failures can be traced to poor management resulting from lack of knowledge.
This is backed up by my own personal observations. In my 31 years as a business coach and consultant to small businesses, I've seen practically dozens of small business owners go under and lose their businesses -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work.
Conclusion: if you are really serious about succeeding in a business... If you want to avoid the common traps and mistakes... it is absolutely imperative that you acquire the right knowledge.
"Why Invent Mediocrity, When You Can Copy Genius?"
That's an excellent quote I picked up from a fellow business owner a few years back. What this means is that you should see what is working and try to duplicate Printing Business. Why go through all the trouble of inventing something new, that you don't even know will ever work, when you can easily learn from and duplicate something that has been a proven success?
[ Note: One of the BIGGEST mistakes almost all new businesses make is that they WASTE tons of valuable time, energy and money on trying to create something "new", that has never been tested or proven... only to find out later that it was a total loss. Don't make the same mistake! ]
Hi! My name is Meir. I'm the founder and president of BizMove.com, a successful internet based information business. I'm also the author of numerous books, mostly in the area of small business management.
I've been involved in small business for the past 31 years of my life, as a business coach, manager of a consulting firm, a seminar leader and as the owner of five successful businesses.
During my career as a business coach and consultant I've helped dozens of business owners start their businesses, market, expand, get out of troubles, sell their businesses and do practically every other small business activity you can think of. You see, I have been there .... done it ... and bought the Small Business t-shirt! -- This free book contains techniques and strategies I've learned during my 31 year small business career.
Here's what you'll discover in the 'How to Start a Printing Business' book:
Success Tip: Setting Goals
Good management is the key to success and good management starts with setting goals. Set goals for yourself for the accomplishment of the many tasks necessary in starting and managing your business successfully. Be specific. Write down the goals in measurable terms of performance. Break major goals down into sub-goals, showing what you expect to achieve in the next two to three months, the next six months, the next year, and the next five years. Beside each goal and sub-goal place a specific date showing when it is to be achieved.
Plan the action you must take to attain the goals. While the effort required to reach each sub-goal should be great enough to challenge you, it should not be so great or unreasonable as to discourage you. Do not plan to reach too many goals all at one time.
Establish priorities. Plan in advance how to measure results so you can know exactly how well you are doing. This is what is meant by "measurable" goals. If you can’t keep score as you go along you are likely to lose motivation. Re-work your plan of action to allow for obstacles which may stand in your way. Try to foresee obstacles and plan ways to avert or minimize them.
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Management Skills Video: How to Become a Great Manager and Leader
Learn how to improve your leadership skills and become a better manager and leader. Here's how to be the boss people want to give 200 percent for. In the following video you'll discover 120 powerful tips and strategies to motivate and inspire your people to bring out the best in them.
For more insightful videos visit our Small Business and Management Skills YouTube Chanel .
Here're other free books in the "how to start a business" series that may interest you:
Here's a Sample 'Executive Summary' for a Travel Agency Business plan :
- What is the objective of the firm? Why does it make business sense? How will you make money? Summarize your whole business plan into 1 paragraph.
- What is your competitive advantage and how can you describe it to investors and customers?
Keys to Success
- Effectively segment and target adventure travelers within the larger travel market.
- Successfully position ourselves as adventure travel specialists.
- Communicate the differentiation and quality of our offering through personal interaction and media.
- Develop a repeat-business base of loyal customers.
Company Summary Travel Agency is a full service travel agency that specializes in adventure travel and provides recreational and business travelers with professional service and consultation. Travel Agency will position itself as a specialist in the field of adventure travel and will generate the majority of its income from this segment.
Company Ownership Travel Agency is a sole proprietorship owned and operated by Shea Delaney in the town of Atkins Grove, California. Travel Agency's owner is researching the possibility of establishing Travel Agency as a Limited Liability Company (LLC) or Partnership (LLP). This may occur within eighteen months of operation. Products/Services What are the products or services? Include full product/service descriptions How will the products/services be priced? Which approach will be taken in deciding on price? What future products/services are going to be added on?
Market Analysis Summary What is the market for this business? Do an industry analysis What risks do you foresee? Market risks, competition risks, business risks? Market Segmentation
Are there segments to the market that the company will be focusing on? What are the market trends? Is this a seasonal marketplace? What is the projected market growth?
Target Market Segment Strategy
- What is the customer profile? Describe in detail who the customers are and what will be the strategy for acquiring those customers. Will you try to go after all the market segments at once or focus efforts on one or two and add more later? Are some more profitable than others?
Service Business Analysis The U.S. travel and tourism industry is the nation's third largest retail industry, and the U.S. Department of Commerce says that it will be number one by the year 2000. Revenues from travel have increased approximately 100% in the last decade. U.S. travel agencies produce over $100 billion in revenues each year. The market is separated into two main categories, business and leisure travel. Each contributes about 45% to total revenues. The remainders of revenues are generated from combined business/leisure trips. The market is further separated into domestic and international travel. Domestic travel accounts for approximately 70% of industry revenues. Business travel can be divided into two categories, the medium to large corporate account and the small independent businessman. Leisure travelers are classified according to the types of trips they take, income, or age. The four primary leisure travel groups are:
- Adventure, Special-Interest, R&R, Honeymoons, and Sightseeing Trips.
- High-Income Travelers.
- Budget-Conscious Travelers.
- Families, Students and Seniors.
Competition and Buying Patterns There are many activities and types of travel available to people contemplating an adventure vacation. These substitute products and services are one type of competition. Theme parks, motor home trips, and cruises are just a few. Other substitutes include less expensive, self-planned, or trips geared towards more traditional types of vacations. In addition, potential customers do not have to vacation. Instead, they may elect to spend elsewhere, or invest the money they would have otherwise spent on a vacation. Direct competition can come from virtually any agency, and there are several agencies that specialize in adventure travel in the United States. Lifestyle, age, and disposable income influence the decision to travel and in which type of travel to participate. Adventure travelers make purchase decisions based upon their desire to combine athletic interests with vacation time. The average adventure traveler engages in one adventure travel vacation every 12-18 months.
Strategy and Implementation Summary
What will be your value? What will you offer that will make you valuable to the customer and the marketplace? SWOT Analysis Item body here Strengths Item body here Weaknesses Item body here Opportunities Item body here Threats Item body here Competitive Edge
What will be your competitive edge? What is better about your business vs. the competition? Marketing Strategy
What Marketing plan do you foresee doing? What marketing strategy will you use? What will your community and public relations strategy be? Sales Strategy
- What sales promotions will you offer? What will be your pricing strategy? Will you mark up your costs? Will you use market prices?
What is your sales forecast for the year and how did you decide on that number?
Web Plan Summary -
- Create web pages in PowerPoint of what your website will look like. Will you have an e-commerce or a static information site? What promotions will you offer online? Create your domain name and make sure it is not used yet.
Management Summary Shea Delaney will act as the General Manager. However, Travel Agency is a small organization and its employees will share in management duties and decision making. It will be important for each member of the team to be capable in all aspects of the business. Prerequisites for all Travel Agency employees include at least five years travel industry experience, knowledge and ability in the types of activities Travel Agency will promote, and Certified Travel Counselor (CTC) certification for applicable positions. The CTC designation can be obtained through the Institute of Certified Travel Agents (ICTA). Improve Your Leadership Skills By Using These Ideas Do you wish you were a more polished leader with all the right skills? Well, it takes time to learn what is necessary in becoming the best leader. As a matter of fact, it's something you live into as you learn more. So, put these tips in place in your life that you're about to read. Allow ample opportunity for your employees to offer feedback and new ideas. Although group meetings are the ideal setting for exchange of information, some employees may not feel confident offering opinions in such a public forum. Work with employees individually as well. This will help you gain trust and get some honest feedback. Being a great leader is a lot more than dishing out orders. One of the most important parts of being a great leader is developing a trust between yourself and your team. If you want your team to give you the best work possible, treat them with the same respect you demand. Always remember that a great leader builds up and does not need to tear down. Do not be overly critical of those on your team. Be quick to give commendation, praise and recognition. Even when people fail, commend the effort and inspire them to get up and try again to succeed. While you should always be there for your team as a leader, don't forget to nurture growth in yourself. Figure out where it is that you want to grow. Do what you can to stretch yourself as much as you can. Engage and deepen your passions and strengths to make your most valuable contributions. Understand the business you are in. Unfortunately there are many leaders out there who don't get their business totally. Whether that's because they inherited the business or they just no longer care, it doesn't matter. It reads the same to employees. How can you lead if others don't trust that you have the knowledge to do so? As a leader, you need to create a joyful atmosphere. Nobody wants to work in a place that is full of negativity. You must work to discover the possibilities in every situation and try to enjoy yourself every day. Remain positive and help others remain positive. Know that you can create something wonderful with your team. Treat all of your employees well and never get involved in office gossip. Employees are usually happier in an environment where their work is appreciated and valued on the same level as any other employee. Spend time working with all of your employees so that you understand each person's contribution. Learn to take responsibility for things, even those that are not your fault. A great leader understands that when the team fails, everyone fails. Instead of placing blame on individual members of the team, a great leader will know that something about the way he leads the team may be the reason for the failure. Befriend a trustworthy person in the same business field. This person will be invaluable when you have an idea and you want to make sure it is actually viable. You will, of course, have to be available to your "business buddy," as well, as this sort of relationship is a two-way street. Always remember that there is an inverse relationship between what's on your mind and your personal productivity right now. If something is on your mind, write it down. If you need to, work on it now. If it can wait or can't be helped right this minute, set the paper to the side and get to work on something you can do right now. When you are the leader of the group, you are responsible for the atmosphere. If you come to work in a bad mood and are disrespectful to your team, the atmosphere will be a negative one. Always try to keep things positive at the office, work site and in your communications with your team. Keep in mind that hope is not always a good thing. If you or your business are involved in a situation that has an inevitable and bad ending, do what is necessary to terminate the situation and move on. Employees will never forgive blind optimism in such circumstances, and it's better for everyone to have a bad situation behind them as soon as possible. Be a passionate leader. It is easier for other to follow a leader that truly cares about the group's goals. Great leaders should have a genuine passion and enthusiasm for the projects in progress instead of just making sure everyone is finishing their work. Express your passion and let everyone know that you care about their progress. When someone shares with the group, let them know that their contribution is appreciated. Nurture growth in your team members. You can do this by offering help and solutions when they make a mistake instead of punishments. Understand that everyone makes mistakes, and show your workers where they went wrong when they make one. A great team is not hired, it is built through teamwork. If you are the leader of a business, you should never let your personal opinions get in the way of how you do business. For example, never pass somebody up for a promotion simply because you do not like them. If they deserve to advance, you should set your feelings aside and make it happen. Emotional intelligence plays a large role in your success as a leader. It's not enough to know every policy, procedure, and protocol. You also have to know people! Research in this area reveals that a leader's mood can have a significant impact on team members' performance. A positive, forward-thinking attitude tends to result in higher productivity and greater job satisfaction. Powerful leaders are humble people that instill the right values in others and teach the right knowledge. In order to be a successful leader, you need to remember what has been described to you here. You can provide inspiration and truth to people and help give them direction that they need.
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- 1. SPAANS TOURS & TRAVELS Abhinesh Kumar-Marketing Head Akhilesh Kr. Dubey- Human Resource Navneet Jingar- Financial Expert Pritam Mala Arya- Sapan Mittal- Managing Director Saurabh Tomar- Service Marketing
- 2. <ul><li>Objectives </li></ul><ul><li>need to provide quality service </li></ul><ul><li>Mission </li></ul><ul><li>Profitable growth through 3S’s </li></ul><ul><li> i.e. Service, Safety and </li></ul><ul><li>Satisfaction </li></ul>Executive Summary
- 3. Executive Summary…..contd. <ul><li>Keys to success </li></ul><ul><li>- excellence in fulfilling the promise </li></ul><ul><li>- Timely response to customers </li></ul><ul><li>- Marketing know how </li></ul>
- 4. Registered Office <ul><li>Registered Office: </li></ul><ul><li>At Chandralok Building, Janpath Marg </li></ul><ul><li>New Delhi </li></ul><ul><li>Sub Branch Office: </li></ul><ul><li>At Mall Road, NH-21, Manali </li></ul>
- 5. Market Summary <ul><li>Market Segmentation </li></ul><ul><li>Target Market Segment Strategy </li></ul><ul><li>Market Needs </li></ul><ul><li>Market Trends </li></ul><ul><li>Service Business Analysis </li></ul>
- 6. Strategy And Implementation <ul><li>SWOT Analysis </li></ul><ul><li>Marketing Strategy </li></ul><ul><li>Marketing Expenses </li></ul>
- 7. Business Concept <ul><li>Fulfillment </li></ul><ul><li>Technology </li></ul><ul><li>Future Services </li></ul>
- 8. Qualities… <ul><li>Comfort level </li></ul><ul><li>Quality Service </li></ul><ul><li>- Pantry </li></ul><ul><li>- Refrigerator </li></ul><ul><li>Safety </li></ul><ul><li>Personalize Entertainment </li></ul>
- 9. <ul><li>Register under sec. 1956 Companies act </li></ul><ul><li>All India Tourist Permit </li></ul>
- 10. Risks <ul><ul><li>Accidental </li></ul></ul><ul><ul><li>Market Condition </li></ul></ul><ul><ul><li>Fuel Rates </li></ul></ul><ul><ul><li>1 st Mover Disadvantage </li></ul></ul>
- 11. Resource Requirements <ul><li>Professional Drivers, and Helpers. </li></ul><ul><li>Resource requirements </li></ul><ul><ul><li>Financial, distribution, promotion, etc. </li></ul></ul><ul><li>External requirements </li></ul><ul><ul><li>Hybrid Busses </li></ul></ul>
- 12. BUS MERCEDES BENZ- THE TOURISMO 3 AXLE VOLVO LUXURY
- 13. Features of Bus
- 14. Interior
- 15. Comfort
- 18. Service Marketing <ul><li>Budget </li></ul><ul><li>Time of Travel </li></ul><ul><li>Competitive comparison </li></ul>
- 19. Competition <ul><li>Govt. public transport Services.(e.g. HRTC) </li></ul><ul><li>Local Private Players. </li></ul>
- 20. <ul><li> Others SPAANS </li></ul><ul><li>Comfort X Yes </li></ul><ul><li>Leg Spacing X Yes </li></ul><ul><li>Personalize LCD X Yes </li></ul><ul><li>Pantry X Yes </li></ul><ul><li>Facilities X Yes </li></ul><ul><li>Fridge with Snacks X Yes </li></ul>Competitive Advantage
- 21. Competitive Advantage… <ul><li>Pricing Strategy </li></ul><ul><li>Innovative Features </li></ul><ul><li>High end Services </li></ul><ul><li>Luxury </li></ul><ul><li>Safety </li></ul>
- 22. Financial Plan <ul><li>Personal Investment: 72,00,000 </li></ul><ul><li>Bank Loan: 1,28,00,000 </li></ul><ul><li>Monthly Earnings: 40,59,900 </li></ul><ul><li>Monthly Expenses 1 st Month:35,89,140 </li></ul><ul><li>Monthly Expenses onwards:35,29,140 </li></ul><ul><li>Net profit 1 st month: 4,70,760 </li></ul><ul><li>Net Profit onwards: 5,30,760 </li></ul><ul><li>Net Profit Yearly: 63,09,120 </li></ul>
- 23. THANK YOU
- MERCEDES BENZ - O530G CITARO
- We’ll Buy 2 Busses of Mercedes Benz- The Tourismo 3 Axle Luxury Volvo.
- The Bus having 38+1+1 Seats According to Govt. Rules and Regulations for the All India Tourist permit. There will be 2 doors for Entry and Exit (Front and Rear) 1 Toilet/ Washroom 1 Fridge in the Back Side
- Cool interior
- Leg spacing comfort
- LCD ON EVERY SEATS with Personalized system
- Personalized System Like Flight
- Other Competitors does not have the facilities still
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SPAANS TOURS & TRAVELS Abhinesh Kumar-Marketing Head Akhilesh Kr. Dubey- Human Resource Navneet Jingar- Financial Expert Pritam Mala Arya- Sapan Mittal- Managing Director Saurabh Tomar- Service Marketing