Business Plan - SME Tourism Venture (Tourism Industry Management)

TOUR 6685 / 6985 Tourism Industry Management

2010

Taupo’s Tourist Shuttle Ltd.03/11/2010

TOUR 6685/6985 Katrina Stephens ©

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TOUR 6685 / 6985 Tourism Industry Management

Business Plan – Assessment Two

TOUR 6685 / 6985 Taupo’s Tourist Shuttle Ltd. Katrina Stephens ©

Table of Contents1.0 Executive Summary.........................................................................................................................4

Chart: Highlights................................................................................................................................5

1.1 Mission........................................................................................................................................5

1.2 Vision...........................................................................................................................................6

1.3 Keys to Success............................................................................................................................6

2.0 Legal Requirements.........................................................................................................................7

3.0 Company Summary........................................................................................................................10

3.1 Company Ownership/Management..............................................................................................11

3.2 Projected Future............................................................................................................................11

4.0 Services..........................................................................................................................................11

5.0 Market Analysis Summary.............................................................................................................15

5.1 Market Segmentation................................................................................................................16

Table: Market Analysis.....................................................................................................................16

Chart: Market Analysis.....................................................................................................................17

6.0 Strategy and Implementation Summary........................................................................................17

6.1 Sales Forecast............................................................................................................................19

Table: Sales Forecast.......................................................................................................................19

Chart: Sales Monthly.......................................................................................................................19

Chart: Sales by Year.........................................................................................................................20

7.0 Management Summary.................................................................................................................20

7.1 Personnel/Human Resource Management Plan........................................................................21

Table: Personnel / Human Resources..............................................................................................21

7.2Task Analysis...............................................................................................................................22

7.3 External Advisors to the Business:.............................................................................................24

8.0 Physical Resources.........................................................................................................................25

9.0 Financial Plan.................................................................................................................................26

Start up budget & Capital budget:...................................................................................................26

Cash flow forecasts:.........................................................................................................................28

Budgeted revenue statement:.........................................................................................................29

Budgeted balance sheet:.................................................................................................................30

Loan Calculator................................................................................................................................31

9.1 Break-even Analysis...................................................................................................................32

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Chart: Break-even Analysis..............................................................................................................32

Table: Break-even Analysis..............................................................................................................32

9.2 Projected Profit and Loss...........................................................................................................33

Table: Profit and Loss......................................................................................................................33

Chart: Profit Monthly.......................................................................................................................34

Chart: Profit Yearly..........................................................................................................................34

Chart: Gross Margin Monthly..........................................................................................................35

Chart: Gross Margin Yearly..............................................................................................................35

9.3 Projected Cash Flow..................................................................................................................36

Chart: Cash......................................................................................................................................36

Table: Cash Flow..............................................................................................................................37

10.0 Marketing Strategy and Plan.......................................................................................................38

11.0 SWOT and Risk Minimisation Strategies......................................................................................42

Task Analysis – Job Matrix...............................................................................................................45

Appendices..........................................................................................................................................45

Job Description – Small Business Owner / Manager........................................................................46

Job Description – Office Receptionist / Administrator.....................................................................47

Job Description – Tour Guide...........................................................................................................48

Job Description – Shuttle Driver......................................................................................................49

Bibliography.........................................................................................................................................58

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1.0 Executive Summary

In 2011 Taupo’s Tourist Shuttle Ltd plans to transport over 4,000 passengers. To accommodate these passengers, we plan to purchase a brand new 12-passenger Toyota Hiace Mini-Bus.

This new mini-bus is one of the top rated, most reliable commercial passenger van on the market, offering superior safety features for example 3-point ELR seatbelts for all passengers, air bags, side door impact bars, front and rear bumpers, a security system, rear window guard, bag safety barrier and Anti-Lock Braking (ABS).

Its innovative square-form styling of galvanised sheet steel reduces the potential for rattles and shakes - making it very stable and secure while on the road and also cuts down wind noise for passengers.

The Toyota Hiace Mini-Bus has a very fuel efficient diesel motor and its emissions are the lowest in the van and mini-bus criteria/range. Toyota also guarantees its quality and performance - backed by their Five Year Platinum Warranty, customer support and service 24 hours - 7 days a week.

This mini-bus will provide our customers with the best safety standards and comfort, as well as the need to reduce our impact on the environment - through less carbon emissions, travelling as a group - instead of individually, reducing our carbon footprint with Toyota’s cleaner diesel motor - which is fuel efficient and cost efficient to run.

Taupo’s Tourist Shuttle Ltd will provide day tours to some of Taupo’s most popular tourist destinations, Monday through to Saturday - departing 9:00am from the Taupo Visitor Information Centre, with accommodation pickups prior to this. By providing accommodation pickups we aim to bring our service straight to our customers/clients - providing them with convenience. The day tour will include destinations/attractions including Lilliput Farm and Animal Park, The Honey Bee Hive, Huka Prawn Park, Huka Falls and the Taupo Bungy. The Day Tour will finish at approximately 3:00pm - with drop off options at the Taupo i-site or the tourist’s accommodation in Taupo. During the Day Tours we will also provide a very knowledgeable tour guide/commentator to educate and inform our customers, sharing knowledge, recommendations and the ability to answer any questions regarding the trip, area, history, attractions and other shuttle providers in New Zealand.

By 2013 we have planned to expand our business by purchasing a second mini-bus which will cater to two half day tours per day, six day per week. Tours will depart from the Taupo Visitor Information Centre at approximately 8:50am-with accommodation pickups prior to this, and finish at approximately 12:00pm-drop offs at the Taupo i-site or the tourists

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accommodation. Then the second half day tour will depart at 12:50pm, and finish at approximately 4:00pm.

Taupo’s Tourist Shuttle Ltd will operate from the manager’s premises to start with, where a small office will be located for the Office Administrator/Receptionist to take phone and email enquiries, confirm online bookings and direct these to the Shuttle Manager. By operating the business at the manager’s premises this will allow the business to keep costs down during the set-up and first year or two of operations.

Taupo’s Tourist Shuttle Ltd will have contacts/relationships with all accommodation providers to encourage and provide potential customers/clients to book with us. This will be beneficial to accommodation providers, as the tourists/clients overall experience will be increased - by taking a day tour to Taupo’s most popular tourist attractions, providing them with accommodation pick-ups and air-port transfers. These tourists/clients will be encouraged to return to the Taupo area to stay in the future to enjoy what Taupo has to offer and to use our service again.

The manager/owner of Taupo’s Tourist Shuttle Ltd will invest in the purchase of the first van. The manager will also secure a long-term commercial loan.

Chart:

Highlights

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2011 2012 2013-$50,000.00

$0.00

$50,000.00

$100,000.00

$150,000.00

$200,000.00

$250,000.00

$300,000.00

$350,000.00

Highlights

Total SalesGross MarginNet Profit


1.1 MissionThe mission of Taupo’s Tourist Shuttle Ltd is to assure the highest safety standards,

convenience, education and a quality service to every customer – while taking the

environment into consideration.

1.2 Vision

To be the number one shuttle company in the Taupo Area and hold market share by 2020.

1.3 Keys to Success

Taupo’s Tourist Shuttle Ltd’s shuttle tour drivers are friendly, professional and commercially certified drivers.

The office administrator/receptionist is professional, friendly and helpful going above the call of duty for all of our customers / clients.

Taupo’s Tourist Shuttle Ltd is a customer focused business that is always looking to increase the customers overall experience and doing its part to reduce the effects on the environment – by using recycled paper for the production of our brochures, paper from sustainable forests for large posters/adverts, and our mini-bus which is very fuel efficient and emits less carbon emissions into the atmosphere than any other commercial van / mini-bus on the market. Also by travelling as a group we reduce our carbon footprint if we were to travel individually.

Taupo’s Tourist Shuttle Ltd will also provide our service to school/sports groups during off-peak seasons – providing our tour guide/commentator to educate students on the Maori History, interesting facts, interactive fun and group bonding activities – such as prawn-fishing, interacting with animals and bungy jumping.

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2.0 Legal RequirementsLegal structure with justification:

Taupo’s Tourist Shuttle will operate as a ‘Limited Liability Company’.

A Limited Liability Company can be registered (incorporated) for $160 with the Companies

Office, and will allow Taupo’s Tourist Shuttle to provide protection to the owner or

shareholders - as the business is regarded as a separate legal entity from its

owner/shareholders. A registered company has limited liability, therefore if the company is

unable to pay its debts and a liquidator is appointed - the owner/shareholder is not

personally liable to pay for the business debts with their own personal assets.

Whereas if a sole trader or a partnership structure was unable to pay its debt, the individual

or partners in the structure will be personally liable to pay for business debts that cannot be

met by business funds/assets with their own personal assets.

A registered company also attracts funds and investment easier - with investors becoming

shareholders. This is because a registered business is credible because it has limited liability,

and has a professional image in the market compared to operating as a sole trader.

A registered company also has the advantage of ‘continuity of existence’, and will exist as a

company until it is removed from the Companies Register. This will ensure the company

continues into the future, even if ownership/management changes occur or the owner

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passes away. This will ensure that the benefits of this company will continue on into the

future, and employees are confident that they have a stable job and work environment.

If we were to run as a sole trader or partnership, the business would cease to exist if the

owner/trader stoped operating, retired or passes away.

A registered company is also easier to sell as a separate entity when the owner wishes to

sell the business or retire. A registered company can easily sell or transfer shares onto the

owner/shareholders dependents/children. A partnership would not be able to do this, as

the business cannot be assigned or transferred - ending the partnership.

The only disadvantage of operating as a ‘Limited Liability Company’ is that the

owner/shareholders may need to provide personal guarantees to lenders or creditors to

borrow funds/investments.

Key Registrations/licences/concessions required:

Company Name reserved/registered with the Registrar of Companies (New Zealand

Companies Office).

The company name “Taupo’s Tourist Shuttle Ltd” is currently available on the

Register Search.

At least one owner, one shareholder (small business), one director/manager and a

physical address.

A registered office where the company records are kept.

An address for service for legal documents to be sent.

(Manager’s premises).

An address for the Registrar of Companies to contact the shuttle business.

(Manager’s premises).

License - Passenger Endorsement.

Keep and report in log book - on how many kilometres we travel each day (to

account for travel/fuel costs).

Ensure Passenger Vehicle Safety-inform passengers of rules, and the need to always

wear your safety belt until the motor is turned off.

Follow guideline set by Land Transport New Zealand. Register under the NZ Taxi,

Limousine & Shuttle Association.

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Register for GST, Personal/Company Tax.

Employment Relations Act 2000 - Employment Agreements and Entitlements, Health

& Safety in Employment Act 1992 and ACC, Human Rights Act 1993, Parental Leave

and Employment Protection Act 1987, Privacy Act 1993, Injury Prevention,

Rehabilitation and Compensation Act 2001 and time off work for bereavement.

Consumer protection under the Fair Trading Act and Consumer Guarantees Act.

Resource Management Act (RMA) - Taupo District Council.

Positive - sustainable practices using recycle paper for pamphlets, and paper from

sustainable forests for large print adverts/posters. As well as a commercial mini-bus

that emits low carbon emissions into the atmosphere. Less vehicles on the road - as

we travel in a group, instead of individually.

Negative - some air pollution. Because we are using the land, we increase traffic -

which can lead to traffic congestions.

Certificate of Public Use (Form 15)

Code Compliance Certificate Application (Form 6)

Marketing – Follow the Code of Practice under the Market Research Society of New

Zealand.

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3.0 Company Summary

Business Concept

Name:

Location:

Taupo Area. Pickup will be from tourist’s accommodation and the Taupo Visitor Information

Centre (i-site).

To start off with, the Tourist Shuttle business will be run from the manager’s own

premises/home address and as business grows – a booking office and souvenir store could

be relocated centrally in the Taupo Town Centre.

Contact Details:

Phone: (07)376-0008

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This photo screen-printed across

vehicle.


Free Phone: 0800-CALL-US or 0800-2255-87

E-mail: [email protected]

Website: www.taupostouristshuttle.com

Tourists/Clients/Customers can also make enquiries and bookings at the Taupo and Turungi

Visitor Information Centres (i-sites).

3.1 Company Ownership/Management

The manager of Taupo’s Tourist Shuttle Ltd is the primary owner of the company. Once the company starts to make a profit, increased sales and expands we may look into outside investment to increase market share and growth.

3.2 Projected Future

Taupo’s Tourist Shuttle Ltd aims to start up business in January 2011. We plan to conduct six Day Tours per week, and provide Air Port Transfers from our client’s / customer’s accommodation to the Taupo Airport seven days a week – Monday to Friday between 4:00pm -6:30pm, Saturday and Sunday between 4:30pm – 6:30pm.

4.0 Services

Main Products and/or services provided:

Taupo’s Tourist Shuttle provides a transportation and tour guiding service to tourists (land

based), specifically backpackers and adventure tourists and business and conference clients,

with the opportunity to cater to school and sport groups during off-peak seasons. Taupo’s

Tourist Shuttle Ltd would also provide their transportation service to domestic tourists, and

local residents/customers who wish to travel to some of Taupo’s most popular tourist

attractions, as well as airport transport service from the client’s accommodation to the

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http://www.taupostouristshuttle.com/

mailto:[email protected]


Taupo Airport. The Taupo Airport Shuttle will provide transport from the Airport to their

accommodation 24 hours, 7 days a week for all incoming flights.

Our shuttle will bring our service to our customers and clients by offering pickup from their

accommodation and the Taupo Visitor Information Centre for the Day Tours to Taupo’s

most visited and favourite tourist attractions.

Our shuttle service will allow our customers/clients to participate in feeding farm animals at

Lilliput Farm and Animal Park, view how honey is made and taste and test honey products,

beauty products, wine tasting, natural honey ice creams and other variety of natural New

Zealand made ice-creams at The Honey Bee Hive. Participate in catching a prawn at the

Huka Prawn Park and the opportunity to gain some awesome photo/video opportunities of

the power of the Huka Falls. Then there’s also the option of completing an adrenaline filled

Bungy Jump above the Waikato River at the Taupo Bungy or just taking in the scenery and

café is a breathtaking experience.

Tourists will also have the opportunity to enjoy morning tea or early lunch at the Honey Bee

Hive, the Prawn Park or the Lilliput Farm and Animal Park Café, and the option of enjoying

Lunch at the Taupo Bungy Café - taking in the beautiful views and scenery, as well as the gift

store which highlights the Taupo Area.

Differentiation:

Our competitors in the Local Taupo Area include:

1. Lake Taupo HOTBUS - (also referred to as the Tongariro Taupo HOTBUS).

2. Shuttle 2 U

3. Taxi Operators

To differentiate our business from other shuttle businesses - we will market/advertise our

business’s strengths, branding/image, quality service and our tour guide/commentator -

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being environmentally considerate and using sustainable practices in the production of

pamphlets/brochures, posters and print adverts. Our tours would also encourage our

customers/clients to be environmentally friendly, and the reasons to look after the

environment for future generations. Taupo’s Tourist Shuttle Ltd will provide an informative

tour guide/commentator service on all of our tours.

This differentiates us from our competitors who do not provide a tour guide on any of their

shuttle tours. Our shuttle business will be competitively priced, offer value for money and

we will insure every customer/client has a great experience with us. Our Tour

Guide/Commentator will also be able to greet and farewell guests, and understand the

basics language of Indian, Chinese and Japanese - as middle-class international tourists from

these countries have increased over the years.

This will ensure that our international guests feel comfortable, welcome, and involved in the

tour and surroundings - with the confidence to interact with the group, attractions/activities

and the confidence to ask questions. It will be one of our businesses core values to insure

that all our customers/clients leaves our service with an excellent impression of the area,

taking in the warm and welcoming nature of ‘Kiwis’, so that they refer us onto their friends,

relatives and others they come into contact with, and also to ensure they consider Taupo as

place they’d like to visit again in the future - benefiting positively on the Local Community.

Taupo’s Tourist Shuttle Ltd will look to continually improve its service - to ensure a quality

service and value for money for our customers/clients.

Day Tours will run from Monday to Saturday – 313 days of the year. Airport Transfers will

run Monday through to Sunday – 364 days of the year (excluding Christmas Day).

Departure Times for the Day Tours (Monday to Saturday):

8:40 am – 8:55 am Pickups from customer’s accommodation in Taupo.

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9:00 am Departs Taupo Visitor Information Centre (i-site) on the corner

of Tongariro Street – Phone (07)376-0027 for enquires

Appr. 3:00 pm Returns to Taupo i-site

3:10 pm All drop offs to customer’s accommodation completed

Departure Times for Airport Transfers (Monday to Friday):

Between 4:00 pm and 6:30 pm Pickups from client’s / customer’s

accommodation

Departure Times for Airport Transfers (Saturday and Sunday):

Between 4:30 pm and 6:30 pm Pickups from client’s / customer’s

accommodation

Fares:Full Day Tour

(2011 onwards)

Airport Transfers

(2011 onwards)

Half Day Tour

(2013 onwards)

Adult $45.00 $10.00 $30.00

Child (Up to 13 yrs) $35.00 $10.00 $20.00

To limit dropping our prices too low, we would advertise the benefits we offer to

clients/customers/tourists (tour guide, environmental friendly)-using recycled paper/paper

from sustainable forests for our business pamphlets and brochures, as well as a vehicle that

is more fuel efficient with less carbon emissions into the environment.

As well as highlighting that by travelling as a group we eliminate the number of vehicles on

the road required to visit these attractions as individuals. We can also advertise this superior

image to maintain customer numbers and revenue/profits, without having to drastically

reducing our prices.

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5.0 Market Analysis SummaryMain Benefits to the consumer of your product/services:

Taupo’s Tourist Shuttle provides a convenient service for completing / going to some of

Taupo’s most popular tourists attractions in a one day tour in a group, with no hassles of

looking for directions, running a vehicle, renting a car or paying for fuel costs. We also

provide a very knowledgeable tour guide/commentator who will engulf you with the areas

history, interesting facts of each attraction/activity answer any questions, refer other shuttle

companies in New Zealand and places/attractions not to miss. Our service will provide a

hassle free experience, with tours running Monday through to Saturday - accounting for

those who are too busy or working during the week.

These individuals/families will see the Saturday Day Tour as a bonus - and will more likely

influence them to purchase our service over competitors. Our business also contributes

positively on the local community and environment as a whole, through our sustainable

practices, and low environmental impacts of operation.

Summary of Benefits:

Competitively Priced and a Friendly Service. Offer Day Tours six days a week - Mon-Sat and Airport Transfers seven days a week. Able to visit all of Taupo’s Most Popular Tourist Attractions in one day. Be educated, informed and share knowledge with our very knowledgeable tour

guide/commentator of the Taupo area’s Maori history, beginnings, interesting facts of each attraction and the ability to answer your questions and make suggestions of other shuttle companies in New Zealand they can use on their travels.

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We take our environmental impact seriously - and meet those individuals who are environmentally conscious.

Why is it a viable reason to set up business?

The Taupo City is growing, attracting new investors, events etc… - increasing the number of business/conference clients to the area.

Tourists want a convenient, hassle free experience where they can take in the best attractions in Taupo.

Tourism is expected to grow in the future, with ‘foreign visitor numbers rising’ as New Zealand becomes more widely known as a top visitor destination, especially from countries such as ‘China, Japan and India’. (Statistics New Zealand, 2010).

The Rugby World Cup next year will also encourage a large inflow of tourists to the Taupo Area, with future flow on effects as tourists return in the future and as they tell their friends and relatives - leading to them travelling to New Zealand - and potentially to Taupo.

Potential to gain market share over competing shuttle companies in the Taupo Area - as we promote ourselves as being environmentally conscious and using sustainable practices by promoting this on our website, pamphlets and in our image/branding. Our tours will also be very educational and informative - as we have our own tour guide/commentator - which we can use to differentiate ourselves from our competitor the Taupo Hot Bus and Shuttle 2 U who do not offer a tour guide on their shuttle tours.

5.1 Market Segmentation

Target markets:

Taupo’s Tourist Shuttle Ltd’s main target markets are backpackers and adventure tourists, as

well as business and conference clients. Taupo’s Tourist Shuttle would also provide a

transportation service to all tourists travelling to/through Taupo who wish to engage in and

take in the sites/scenery and visit some of Taupo’s favourite attractions, we could also take

educational/group bonding and outdoor appreciation trips on the areas history and

reducing our impact on the environment for school groups to these attractions if

approached by schools to do so.

Table: Market AnalysisMarket Analysis

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2011 2012 2013 2014 2015

Potential CustomersGrowt

h CAGRBackpackers 0.80% 1,582 1,592 1,602 1,622 1,633 0.80%Adventure Tourists 0.80% 1,582 1,592 1,602 1,622 1,633 0.80%Half Day Tours 3.43% 0 0 7,000 7,200 7,488 3.43%

Business/Conference Clients + Airport Transfers 4.95% 900 950 1,000 1,050 1,092 4.95%Other 4.68% 250 260 280 290 300 4.68%

Total 2.93% 4,314 4,394 11,48411,78

412,14

6 2.93%

Chart: Market Analysis

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Market Analysis (2011)

Backpackers

Adventure Tourists

Business/Conference Clients & Airport Trans-fers

Other


6.0 Strategy and Implementation Summary

Taupo’s Tourist Shuttle Ltd will develop a close relationship with accommodation providers

in the Taupo City – where our service can be provided to their customers to increase their

overall experience in the area and provide them with a convenient service that provides pick

up service from their accommodation.

We would also need to have a close relationship with the Taupo and Turangi Visitor

Information Systems – where our customers will be able to book their day tour or airport

transfer from their accommodation in Taupo to the Taupo Airport. For every sale completed

at these i-sites – we will pay a 5% commission on every ticket sold to the sales person who

completed the sale.

It would also be beneficial to our business and to our future success if we build relationships

with other shuttle providers in New Zealand, so that they would refer our service to their

clients/customers and in doing so – we would refer their service to our clients/customers.

Benefiting our shuttle company, but also other shuttle companies throughout New Zealand,

building a relationship with ‘Inbound Shuttle/Tour Operators’ nationwide.

We would also keep in close contact with the Taxi, Limousine and Shuttle Association of

New Zealand to ensure we maintain and comply with the industry’s regulations and aim to

continually improve our service and standards to ensure value for our customers and the

wellbeing of the environment. As well as hold this accreditation of membership of this

association – which will indicate to our potential customers that we are a trusted and

recognised operator.

Our company also aims are to gain the Qualmark Accreditation of ‘Enviro-Green’ award and logo.

Qualmark’s Enviro-Green award and logo is awarded to businesses that are/promote:

Energy Efficiency Reduce Waste Management Water Conservation Community Activities Conservation/Sustainability Initiatives

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I believe our company will reach these goals within 3-5years to promote sustainability,

promoting our business as being environmentally friendly, reducing our carbon foot print by

travelling as a group, using sustainable practices – with recycling and paper from sustainable

forests. Using a very clean diesel engine which is fuel/energy efficient and emitting very low

amounts of carbon emissions into the atmosphere (waste management). Our business

would not use any water in its operations to run tours/airport transfers, and we would

promote to our clients/customers to try and reduce their impacts on the environment

through our very educational and informative tour guide/commentator. This

award/accreditation and logo on our shuttle vans would defiantly act positively towards

potential sales and enable us to gain more market share in the shuttle/transport provide in

the Taupo Area.

6.1 Sales ForecastThe following is the sales forecast for the next three years.

Table: Sales Forecast

Sales Forecast 2011 2012 2013Sales ForecastDay Tours $126,560.00 $127,360.00 $128,160.00Half Day Tours $0.00 $0.00 $175,000.00Airport Transfers $9,000.00 $9,500.00 $10,000.00Other $10,000.00 $10,400.00 $11,200.00Total Sales $145,560.00 $147,260.00 $324,360.00 Direct Cost of Sales 2011 2012 2013Shuttle Tickets $17,467.20 $17,671.20 $38,923.20Other $0.00 $0.00 $0.00Subtotal Direct Cost of Sales $17,467.20 $17,671.20 $38,923.20

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Chart: Sales Monthly

Chart: Sales by Year

7.0 Management Summary

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2011 2012 2013$0.00

$50,000.00

$100,000.00

$150,000.00

$200,000.00

$250,000.00

$300,000.00

$350,000.00

$145,560.00 $147,260.00

$324,360.00

Sales by Year

Total Sales

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec$0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

Monthly Sales 2011

Total Sales


The manager is the primary owner of Taupo’s Tourist Shuttle Ltd, where they perform management duties and will also cover the duties of a full-time shuttle driver for the Day Tours, and Airport Transfers. The Office Administrator/Receptionist will work in the business’s office located at the manager’s premises, taking phone and email enquiries and confirming bookings. The Receptionist will also be contacted and receive enquiries from clients/customers through their accommodation providers and the Turangi and Taupo i-sites – where they will direct/report these bookings to the manager. The manager will have day to day contact with the Office Administrator/Receptionist before commencing tours and after each tour every day. The manager will also be able to be contacted via their hands free cell phone, and at approximately 12:30pm when the tour group stops for lunch at the Honey Bee Hive or the Huka Prawn Park the manager will be able to take urgent phone calls from the Office Administrator/Receptionist.

In 2013 the business aims to employ another full-time shuttle driver and tour guide/commentator to complete the Half Day Tours – as well as a part-time shuttle driver who will be on hand to cover any of the full-time shuttle drivers work if they are on sick or injury related leave, bereavement etc…

7.1 Personnel/Human Resource Management Plan

The staff for Taupo’s Tourist Shuttle Ltd is as follows:

Shuttle Manager/Owner/Full-Time Driver Office Administrator/Receptionist Tour Guide/Commentator Full-time driver/s Part-time driver/s

Table: Personnel / Human ResourcesPersonnel Plan 2011 2012 2013Shuttle Manager & Full Time Driver $ 45,000.00 $ 45,000.00 $ 45,000.00 Office Staff/Receptionist $ 26,900.00 $ 26,900.00 $ 26,900.00 Tour Guide/Commentator $ 33,000.00 $ 33,000.00 $ 66,000.00 Full-time drivers (extra) 0 0 $ 29,000.00 Part-time drivers 0 0 $ 15,000.00 Total People 3 3 5

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Total Payroll $ 104,900 $ 104,900.00 $ 181,900.00

People

Task Analysis:

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Shuttle Business Owner/Manager

Tour Guide / Commentator Full-Time Driver

Part-Time Driver

Office Administrator /

Receptionist


7.2Task Analysis

Key Roles within the Business:

Shuttle Manager/Owner – is responsible for the day to day running of the shuttle

business/tours and airport transfers. All bookings which are made will be directed

from the Office Receptionist/Administrator to the Manager so that the Manager can

organise and schedule client’s/customer’s pickups from their accommodation or the

Taupo i-site.

The Manager will also be responsible for going over all the accounts at the end of

each month with the business’s accountant and/or bank manager. All employees will

report to the Manager regarding any employment issues, sick/injury or bereavement

leave, and customers/clients enquiries which need the attention of the Manager.

The Manager will also be involved in the day to day running of the business – as a

full-time driver of the Day Tours and Airport Transfers. The Manager will ensure the

safety and wellbeing of all their employees and clients/customers. They must insure

a OSH policy is in place first before business starts.

In 2013 we have aimed to expand the business by purchasing a second mini-bus to

cater fully on half-day tours twice a day, six days a week. In this instance, the

Manager will be hiring a full-time driver and another Tour Guide to cater to the half-

day tours and a part-time driver to cover sick, injury, bereavement leave etc… for the

Full-Time Driver, and possibly the Manager’s duties on Day Tours on rare occasions.

Therefore it will be the Manager’s responsibility to train these new drivers and Tour

Guide – to ensure high standards are maintained over the whole business, as well as

high customer service and satisfaction is exceeded. (This training can be completed

on the job, with these new drivers going on one of the Manager’s Day Tours, or on a

day or low-season period to give them a fare idea of what standards are expected.

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The Shuttle Manager / Owner will be responsible for all Employment Relations Issues

and Human Resource Management responsibilities, such as:

Human Resource Planning – Human Resource Requirement:

The business will employ three employees at first (set-up).

1) Manager/Owner & Full-Time Shuttle Driver (1)

2) Office Receptionist / Administrator (1)

3) Tour Guide / Commentator (1)

The business will expand in 2013 – with the purchase of a second mini-bus, therefore

the manager will employ a further three employees to accommodate the half day

tours:

1) Full-Time Shuttle Driver (1)

2) Tour Guide / Commentator

3) Part-Time Shuttle Driver (1)

The Manager/Owner will also be responsible for recruiting, selecting, organising the

orientation, training processes and development and evaluate performance through

customer satisfaction surveys etc…, and staff rewards – such as holiday pay, bonuses

and incentives to wage/salary increases.

Office Receptionist / Administrator – the office receptionist will be responsible for

taking phone calls and emails, answering customer’s / client’s enquiries. As well as

enquiries from accommodation providers and bookings from the Taupo i-site. They

will have close contact with the Manager/Owner – directing enquiries that they

cannot personally answer onto the Manager, and directing booking numbers and

details onto the Manager – so that they can make/schedule client’s/customer’s pick-

up arrangements etc… The office receptionist will be able to contact the Manager

during Day Tours on their lunch break at 12:30pm on the Manager’s hands free cell

phone.

Tour Guide – The Tour Guide will be responsible for insuring that all the business’s

customers feel welcomed and involved in the tour. They will be able to greet and

farewell our customers in English, Indian, Chinese and Japanese – as there are a large

proportion of tourists from these nationalities that travel to New Zealand and to the

Taupo Area. This will ensure that our service is friendly, caring and that our

24


customer’s feel at ease to ask questions and be involved. Our tour guides will also be

very knowledgeable on local history, surroundings and attractions, as well as on

environmental issues and impacts – and the need to use sustainable practices and be

environmentally friendly. The Tour Guide will report to the Manager/Owner at the

start of each day – at the manager’s/owner’s premises where the Shuttle Van’s will

be securely stalled.

Shuttle Drivers (Full & Part Time) - The Shuttle Drivers will be responsible for

insuring the safety of themselves, the tour guide and their passengers. They must

ensure that all passengers are made aware of the safety precautions before each

tour commences and that safety belts must be worn at all times when the vehicle is

turned on, that large items/bags can be put in the rear boot (as our shuttle vans have

rear window guards and bag safety barriers installed), and that no one should put

themselves at risk by hanging out the windows/doors. All Shuttle Driver’s will be

responsible for completing a log book before and after they complete each tour – so

that costs can be taken into account for accounting purposes.

7.3 External Advisors to the Business:

Taupo’s Tourist Shuttle Ltd’s External Advisors would include:

Accountant / Accountancy Firm.

Bank Manager – for borrowing funds, and seeking investment/investors.

Business Advisor – to give advice and support to Manager.

Market Research / Advertising / Web Design Firm who could assist in setting up

website and forms of marketing/advertising – so that we follow the Code of Practice

set by the Market Research Society of New Zealand.

NZ Taxi, Limousine & Shuttle Association.

NZ Transport.

Taupo Council / Destination Lake Taupo.

Qual Mark (Tourism New Zealand).

25


8.0 Physical Resources

Premises:

The business’s office will be firstly set up and run from the Manager’s Premises - this will

enable the business to keep costs down, and once the business has sufficient funds to

lease/rent - we would open up an office and souvenir store in the Taupo Town Centre.

The office located at the Manager’s premises will be open if consumers wish to book

themselves in the Day Tour and/or Airport Transfer. The Office Receptionist will be able to

make the booking on the booking system, and payment can be made by credit card, eftpos

or cash. They will also be able to make enquiries here - where the Office Receptionist will be

able to answer any questions. Or enquiries can be made via phone, fax and email.

To meet customer’s / client’s needs we have made it more convenient for our customers to

book online (Ecommerce Booking System - payment by internet banking / dps payment or

debit/credit card. They can also book at the Visitor Information Centre in Turangi and Taupo

if they do not have access to the booking system online. Our service would also advertise

with pamphlets/brochures at the Taupo and Turangi i-sites and accommodation providers in

Taupo. We would provide a convenient service by offering pick-ups and drop-offs from our

customer’s accommodation in Taupo ands the Taupo Visitor Information Centre (i-site) for

Day and Half-Day Tours and Airport Transfers from our customer’s accommodation to the

Taupo Airport.

26


Key Equipment Requirements:

Taupo’s Tourist Shuttle Ltd will purchase a Toyota Hiace 12 seater Mini-Bus to cater to the

Day Tours and Airport Transfers transportation of our clients/customers. A brand new Mini-

Bus, with seats fitted, safety features, platinum five year warranty and our branding/image

of the lake and mountains and name screen printed on the vehicle will cost approximately

$71,590. We will also purchase a second mini-bus in 2013 to expand our business, catering

fully to two Half-Day Tours per day.

Our business will also require for set up office equipment including a computer, with

booking/accounting system software, fax, phone, internet, filing cabinet, petty cash deposit

safe, office furniture and stationery costing approximately $6,500.

9.0 Financial PlanThe following is the Financial Plan for Taupo’s Tourist Shuttle Ltd.

Start up budget & Capital budget:

BUSINESS TYPE: Shuttle Company

BUSINESS NAME:Taupo's Tourist Shuttle

Ltd.NO OF SEATS: 12

START-UP CAPITAL EXPENDITURECOMPANY SET UP /REGISTRATION $ 160.00 OWNERS CAPITAL $ 43,500.00 FINANCED $ 21,590.00 FINANCE RATE 10%OTHER EQUIPMENT $ 6,500.00 OWNERS CAPITAL $ 6,500.00 FINANCED $ - FINANCE RATE 10%OPENING BANK BALANCE $ 50,000.00 OWNERS CAPITAL $ 50,000.00

START UP REVENUE EXPENDITUREADVERTISING $ 5,000.00 INSURANCE $ 1,500.00

27


RENT $ - STATIONERY $ 100.00

ON-GOING REVENUERATE PER DAY TOUR $ 40.00 (Average)RATE PER AIR PORT TRANSFER $ 10.00 SUMMER OCCUPANCY RATE (%) 80%WINTER OCCUPANCY RATE 65%

ON-GOING EXPENSESOPERATION EXPENSES 60% OF INCOMECLEANING PRODUCTS (clean ourself) $5 PER DAYACCOUNTANCY $200 PER MONTHADVERTISING PER MONTH $ 750.00 BANK CHARGES $50 PER MONTHINSURANCE $400 PER MONTHOVERDRAFT INTEREST RATE 18%LIGHT AND POWER - FIXED LINE CHARGE $ - - VARIABLE 1% OF INCOMESHUTTLE TICKET PRINTING $41.28 PER MONTHRATES $800 PER YEARVEHICLE MAINTENANCE $200 PER MONTHTELEPHONE AND TOLLS - FIXED LINE CHARGE $100 PER MONTH - VARIABLE 1% OF INCOMEOWNERS/MANAGERS WAGES PER MONTH $ 3,750.00

28


Cash flow forecasts:

Cash Flow 2011 2012 2013

Cash Received

Cash from OperationsCash Sales $145,560.00 $147,260.00 $324,360.00Subtotal Cash from Operations $145,560.00 $147,260.00 $324,360.00

Additional Cash ReceivedSales Tax, VAT, HST/GST Received $0.00 $0.00 $0.00New Long-term Liabilities $21,590.00 $0.00 $71,590.00Capital Investment $50,000.00 $0.00 $0.00Subtotal Cash Received $217,150.00 $147,260.00 $395,950.00

Expenditures 2011 2012 2013

Expenditures from OperationsCash Spending (Diesel) $7,200 $8,000 $16,000Bill Payments $121,100 $121,100 $204,100Subtotal Spent on Operations $128,300 $129,100 $220,100

Additional Cash SpentPAYE Taxes to IRD $17,557 $17,557 $29,663Long-term Liabilities Principal Repayment $1,324 $1,463 $1,616Purchases Long-term Assets $71,590 $0 $71,590Subtotal Cash Spent $218,771 $148,120 $322,969

Net Cash Flow -$1,621 -$860 $72,981Add Opening Bank Balance $0 -$1,621 -$2,481Cash Balance -$1,621 -$2,481 $70,499

29


Budgeted revenue statement:

Taupo's Tourist Shuttle Ltd.BUDGETED INCOME STATEMENT

FOR THE YEAR ENDED 31 JANUARY 2012

REVENUEIncome from Day Tours $ 136,560.00 Income from Airport Transfers $ 9,000.00

$145,560LESS COST OF GOODS SOLDOperation Costs (Tickets and Diesel) $ 17,467.20 Salaries/Wages $ 104,900.00

$122,367$23,193

LESS EXPENSESAccountancy $ 2,400.00 Advertising $ 9,000.00 Bank Charges $ 600.00 Insurance $ 4,800.00 Light and Power $ 1,200.00 Motor Vehicle $ 2,400.00 Printing $ 495.36 Rates $ 800.00 Telephone $1,200

$22,895NET PROFIT $297

30


Budgeted balance sheet:

Taupo's Tourist Shuttle Ltd.BUDGETED BALANCE STATEMENT

AS AT 31 JANUARY 2012

EQUITYOpening Balance $ - Capital Introduced $ 50,000.00 Net Profit $ 297.44

$ 50,297.44 Less Owners Drawings $ -

$ 50,297.44

THIS IS REPRESENTED BY:CURRENT ASSETSBank -$ 18,377.00 Accounts Receivable $ -

-$ 18,377.00 LESS CURRENT LIABILITIESAccounts Payable $ - GST Payable $ 11,793.37

WORKING CAPITAL -$ 30,170.37

PLUS NON CURRENT ASSETSMini-Bus 71, 590.00 Other Equipment $ 6,500.00 Company Registration $ 160.00

$ 6,660.00 -$ 23,510.37

LESS NON CURRENT LIABILTIESLong-Term Loans $ - Mortgage $ 21,590.00

$ 21,590.00

NET ASSETS -$ 45,100.37

-$ 95,397.81

31


Loan Calculator

Loan Amount (pv) $21,590

Interest Rate (rate) 0.83%

Total # of Periods (Nper) 120

Payment per Period $285.31

Total Interest Paid $ 12,647.61

Period

PaymentAmount Interest

Cumulative

InterestPrincip

alPrincipal

Paid Balance

$

21,590.00

1 285.31 179.92 179.92 105.40 105.40 21,484.60

2 285.31 179.04 358.96 106.28 211.67 21,378.33

3 285.31 178.15 537.11 107.16 318.83 21,271.17

4 285.31 177.26 714.37 108.05 426.89 21,163.11

5 285.31 176.36 890.73 108.95 535.84 21,054.16

6 285.31 175.45 1,066.18 109.86 645.70 20,944.30

7 285.31 174.54 1,240.71 110.78 756.48 20,833.52

8 285.31 173.61 1,414.33 111.70 868.18 20,721.82

9 285.31 172.68 1,587.01 112.63 980.81 20,609.19

10 285.31 171.74 1,758.75 113.57 1,094.38 20,495.62

11 285.31 170.80 1,929.55 114.52 1,208.90 20,381.10

12 285.31 169.84 2,099.39 115.47 1,324.37 20,265.63

32


9.1 Break-even Analysis.The following table and chart show the break-even analysis for Taupo’s Tourist Shuttle Ltd.

Chart: Break-even Analysis

Table: Break-even Analysis

Break-even Analysis

Airport Transfers Day ToursMonthly Revenue Break-even $3,096 $9,313

Assumptions:Average Percent Variable Cost 16% 4%Estimated Monthly Fixed Cost $2,599 $8,939

33

-$20,000.00

-$15,000.00

-$10,000.00

-$5,000.00

$-

$5,000.00

$10,000.00

$15,000.00

$3,096.00

$9,313.00

Monthly Break-even Analysis

Airport TransfersDay Tours


9.2 Projected Profit and LossThe following table and charts are the projected profit and loss for three years.

Table: Profit and Loss

Profit and Loss 2011 2012 2013Sales $145,560.00 $147,260.00 $324,360.00Direct Cost of Sales $17,467.20 $17,671.20 $38,923.20Other Production Expenses $0.00 $0.00 $0.00Total Cost of Sales $17,467.20 $17,671.20 $38,923.20 Gross Margin $128,092.80 $129,588.80 $285,436.80Gross Margin % 88.00% 88.00% 88.00% ExpensesPayroll (Including PAYE) $104,900.00 $104,900.00 $181,900.00Sales, Advertising, Marketing & Other Expenses $10,000.00 $10,000.00 $10,000.00Depreciation (Diminishing-Value 30%) $21,477.00 $15,033.90 $10,523.73Electricity + Phone (Office at Owners Premises) $2,400.00 $2,400.00 $3,600.00Insurance $3,600.00 $3,600.00 $7,200.00Payroll Taxes $17,557.00 $17,557.00 $29,663.00Other $0.00 $0.00 $0.00 Total Operating Expenses $159,934.00 $153,490.90 $242,886.73 Profit Before Interest & Taxes -$31,841.20 -$23,902.10 $42,550.07EBITDA -$10,364.20 -$8,868.20 $53,073.80 Interest Expense $2,159.00 $2,159.00 $9,318.00 Taxes Incurred / Tax Credit -$8,915.54 -$6,692.59 $11,914.02 Net Profit -$25,084.66 -$19,368.51 $21,318.05Net Profit/Sales -17.23% -13.15% 6.57%

34


Chart: Profit Monthly

Chart: Profit Yearly

35

2011 2012 2013

-$30,000.00

-$20,000.00

-$10,000.00

$0.00

$10,000.00

$20,000.00

$30,000.00

Profit Yearly

1 2 3 4 5 6 7 8 9 10 11 12

-$6,000.00

-$5,000.00

-$4,000.00

-$3,000.00

-$2,000.00

-$1,000.00

$-

Profit Monthly (2011)


Chart: Gross Margin Monthly

Chart: Gross Margin Yearly

36

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec $-

$2,000.00

$4,000.00

$6,000.00

$8,000.00

$10,000.00

$12,000.00

$14,000.00

Gross Margin Monthly

2011 2012 2013$0.00

$50,000.00

$100,000.00

$150,000.00

$200,000.00

$250,000.00

$300,000.00

Gross Margin Yearly


9.3 Projected Cash FlowThe following table and chart is the projected cash flow for three years.

Chart: Cash

37

2011 2012 2013-$10,000

$0

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

Cash

Net Cash FlowCash Balance


Table: Cash Flow

Cash Flow 2011 2012 2013

Cash Received

Cash from OperationsCash Sales $145,560.00 $147,260.00 $324,360.00Subtotal Cash from Operations $145,560.00 $147,260.00 $324,360.00

Additional Cash ReceivedSales Tax, VAT, HST/GST Received $0.00 $0.00 $0.00New Long-term Liabilities $21,590.00 $0.00 $71,590.00Capital Investment $50,000.00 $0.00 $0.00Subtotal Cash Received $217,150.00 $147,260.00 $395,950.00

Expenditures 2011 2012 2013

Expenditures from OperationsCash Spending (Diesel) $7,200 $8,000 $16,000Bill Payments $121,100 $121,100 $204,100Subtotal Spent on Operations $128,300 $129,100 $220,100

Additional Cash SpentPAYE Taxes to IRD $17,557 $17,557 $29,663Long-term Liabilities Principal Repayment $1,324 $1,463 $1,616Purchases Long-term Assets $71,590 $0 $71,590Subtotal Cash Spent $218,771 $148,120 $322,969

Net Cash Flow -$1,621 -$860 $72,981Add Opening Bank Balance $0 -$1,621 -$2,481Cash Balance -$1,621 -$2,481 $70,499

38


10.0 Marketing Strategy and Plan

Target Market Segments

-Target Market 1: Backpackers/Adventure Tourists.

Backpacker/Adventure Tourists are primarily individuals aged between 18 and

approximately 35yrs of age who travel around New Zealand without their own transport.

They spend very little on their accommodation, and usually spend more on

activities/attractions. They tend to stay at bed and breakfasts/hostels/backpacker

accommodation central to town centres. They are always on the look out for

activities/attractions that offer them value for money, so that they can stay within their

spending limits.

Our service would meet this target market, as our service will provide them with a Day Tour

to some of Taupo’s Most Popular Tourist attractions in one day and provide them with

transportation, an educational/informative tour guide etc… and they will not have any

hassles of locating directions, maps, transport means etc…

If they were to hitchhike, it would be difficult to travel to all attractions, and usually people

travelling through/out of Taupo, are travelling onto other towns/cities therefore they are

less likely to give hitchhikers a ride to these attractions, wait for them and take them to

another attraction.

-Target Market 2: Business/Conference Clients.

Business/Conference Clients are aged from 20-50 Yrs of age, and either have business affairs

in Taupo and/or looking to invest or participate in a business event in Taupo. These clients

require airport transfers from their accommodation to the Taupo Airport to catch flights to

Auckland, Wellington or Whanganui.

We would offer a competitively priced service, that is cheaper than catching a taxi and also

competitively priced/value for money compared to our competitors ‘Hot Bus’ and ‘Shuttle 2

U’ - with our Airport Transfers priced at $10.00 per passenger, and offered seven days a

week for all flights departing Taupo between 4-6:30pm (4-5 flights per night).

39


Marketing Strategy

To avoid rivalry between existing competitors (Shuttle 2 U and The Hot Bus):

To limit dropping our prices too low, we would advertise the benefits we offer to

clients/customers/tourists (tour guide, environmental friendly-using recycled paper/paper

from sustainable forests for our business pamphlets and brochures, as well as a vehicle that

is more fuel efficient with less carbon emissions into the environment, as well as

highlighting that by travelling as a group we eliminate the number of vehicles on the road

required to visit these attractions as individuals. Our service also offers convenience, as we

offer accommodation pickups and drop offs and we have a very knowledgeable Tour Guide

on all of our tours.

We can also advertise this superior image to maintain customer numbers and

revenue/profits, without having to drastically reducing our prices. Our customer’s will

distinctively remember our image/branding from the view of the lake and mountains screen

printed across the mini-bus. We would also maintain high customer service standards, and

continually look to improve our service to our customer’s and client’s to ensure they return

in the future to use our service again, and to refer our service onto others.

Intensity by shuttle businesses may increase, as businesses battle each other to gain

customers, revenue, profits and market share, and there is also potential for price wars to

develop. Therefore it is important to highlight and portray to our potential customers our

differentiated product/service over our competitors, so that we can maintain sales and

influence customers to return in the future (loyal customers).

40


Tactics

Pricing Strategy

-Competitive Pricing - we will look at our competitors prices on a regular basis to

ensure that we a competitive with then in the market - and so that we can

benchmark our pricing close to our slightly above our competitors. I believe our

average pricing of $40 is very reasonable, taking into account the benefits we offer

our customers the highest safety levels, airport transfers, accommodation pickups

and drop offs (convenience), tours on Saturdays, booking options online or at the

Turangi & Taupo i-sites and a very knowledgeable tour guide on every tour. We also

take the environment into consideration - with sustainable practices and low carbon

emissions.

Distribution Strategy

Brochure / Pamphlet

-Size - A4 - 3 fold brochure.

-Colour - varied shades of blue.

-Photo - photo of lake and mountains in the background - which links the brochure

to the shuttle van, so that customers can quickly link the service to business through

our image/branding. Also photos of attractions that the Tours will Visit, and a map

and photo of the Taupo i-site - where pickups will be made and where tickets can be

booked. As well as a photo of the Taupo Airport - to indicate Airport Transfers to the

Airport.

-Information - Prices/Fares, Where to Book, Pickups at Taupo i-site, Airport

Transfers, Caption and Small Description of each attraction, ability to test/taste, try

products, interaction and amazing/thrilling experiences.

-Contact Details - Phone, Email, Website.

-Type of Map - Taupo Town Area/Township and where our office is situated at the

Manager’s Premises, and also bookings and pickups at the Taupo i-site on the corner

of Tongariro Street.

-What will make it stand out - Lake & Mountain Scenery - Photo on front cover, and

as a faded background/foreground for other brochure sides. This image will be

screen printed on the mini-bus, so that potential customer’s can link this

41


service/product in the brochure to the mini-bus that they see out and about in the

Taupo Area/Township - and gives them the desire to try our service.

-Distribution of Brochure - We will provide brochures to all Accommodation

Providers in the central Taupo, as well as to the i-sites in both Turangi and Taupo,

and as well as at the destinations/attractions included in the Day Tour.

Web Marketing

-Web Site - Taupo’s Tourist Shuttle Ltd will have its very own website, where

potential customers/clients can book online using our e-commerce booking system, -

ability to pay by debit/credit card and internet banking, make email enquiries, read

about attractions/activities, services, airport transfers, pricing, location, contact

details, times, photos, read comments and feedback from those who have been on a

tour or used the airport transfer service, pickups options (convenience and a service

that is devoted to its customers bringing the service to you (accommodation

pickups)), links to attractions/destinations websites that we will visit on the tour and

accreditation/logos from AA and Jasons as we also advertise with the (Web2

marketing). Once we gain an award/accreditation from QualMark (Tourism New

Zealand) for Enviro-Green, we will also be able to promote our recognition and this

logo on our website - to influence customers to book with us.

-Jasons Travel Website - We will have a business advertisement with Jason Travel on

their website.

-A.A Travel - We will have a business advertisement with AA Travel on their website.

(Enable us to reach a wider market of people who search online at accredited travel

providers for travel information. This will make more people aware of our business,

and will highly likely increase sales/profits in the future.

Advertising

-RTO Publications - contact Destination Lake Taupo - and maybe they would write up

a review / article on our new business which promotes sustainable and

environmentally conscious operations. (Act as advertising and publicity).

-Local Radio Stations - More FM and the Rock to promote the opening and advertise

our business on the radio for the first few months - until the business is established.

42


Publicity

-Taupo Times - may be willing to write up an article and put a photo of the new

shuttle service that promotes sustainable and environmentally conscious operations

and captures the image/branding of the Taupo Area/Community in the local new

paper - gaining free advertising and awareness in the community.

-Taupo & Turangi i-sites- pamphlets and posters/adverts on display at i-sites.

-In-Bound Shuttle Operators throughout New Zealand - by creating a business

relationship and bond with other shuttle/tour providers in New Zealand, they can

refer their clients/customers to use our service, and in return we would refer their

services onto our clients/customers who are travelling to their region/area and

travelling around New Zealand.

11.0 SWOT and Risk Minimisation Strategies

Strengths

Educational commentator/tour guide included in all tours.

Convenient Service - Accommodation Pick-ups and Drop-offs.

Weaknesses

Operational efficiency - relatively new business with limited capital.

Brand awareness - relatively low, and hold low market share in the shuttle sector in

Taupo.

Opportunities

New Technology - E-commerce Booking system to increase booking numbers and

convenience to our customers.

Market Trends - growth of tourism, as film industry/production and Rugby World

Cup attracts tourists to New Zealand. There is also a ‘larger inflow of foreigners from

India, China and Japan over recent years’ (Statistics New Zealand, 2010).

Threats

Two very competitive shuttle firms, with one holding market share and dominance at

present time.

Economic environment - inflation increasing the general prices of all goods and

services, therefore there may be less people willing to travel - pushing ticket sales

down.

Weaknesses

43


Operational efficiency - relatively new business with limited capital.

Brand awareness - relatively low, and hold low market share in the shuttle sector in

Taupo.

Strategy to Lesson Risks:

-We could possibly loom at leasing a shuttle vehicle for a year or two instead of purchasing

another vehicle in 2013, and could possibly provide a variety of tours - to increase tours

during winter months we could provide tours to Ruapehu, National Park and the Waiouru

Museum.

-To increase brand awareness, we could promote and advertise our business on the Local

Radio to get our name out in the local community, contact Destination Lake Taupo and the

Taupo Times to see whether they would be interested in writing up an article on our new

business in Taupo that uses sustainable and environmentally conscious practices, and a

service that puts its customers first - always looking to improve our service.

Threats

44


Two very competitive shuttle firms, with one holding market share and dominance at

present time.

Economic environment - inflation increasing the general prices of all goods and

services, therefore there may be less people willing to travel - pushing ticket sales

down.

Strategy to Lesson Risks:

-Price our tours and airport transfers competitively against competitors, but don’t drop

prices too drastically (as to lose profits) - accomplish this by marketing our key benefits and

differentiate through our website, brochure and posters - and promote through the sales

staff at the Turangi and Taupo i-sites.

-To make it through recessionary times, we could provide more half-day tours where

individuals will have the opportunity to complete a quicker tour for at a lower fare/price.

This will encourage more people to take half-day tours as they are quick and more

affordable - therefore they can still schedule their other duties/hobbies/commitments into

their day. When we do experience peak sales, revenue can be put into a business account

that can help/aid the business to get through seasonal fluctuations to cover

expenses/costs/employees wages/salaries. To insure sales are kept at stable levels or to

increase sales, we could look at marketing to families, and large groups and offer them a

group discount booking, or market to a new segment for example school/sports groups who

could use our service during off-peak season to complete educational, interactive and group

bonding tours with a small class/year group and their school teacher/coach/PE teacher

assisting with the tour.

45


Task Analysis – Job MatrixAppendices

Position Number of workers needed

Skill

Requirements

Salary or Hourly Wage Full, Part, or

Flexi-time

Qualifications

Shuttle Business Owner / Manager

1 Small Business Owner/Manager & Full-Time Shuttle Driver.

Be organised and have good communication skills Understand business set-up problems, market values & trends, business management systems legal requirements, marketing, management, administration, finance, budgeting and accounting.

$1,875 (F.N)

$45,000 (P.A)

F.N = Fortnight

P.A = Per Annum

Full-Time (1) Qualification in retail, management, marketing, tourism or finance would be beneficial. Experience in a SMEs.

Office Receptionist 1 Receptionist. Good communication and listening skills, computer and word processing skills, planning and organisational skills, and knowledge of administration policies, systems and procedures.

$1,120.83 (F.N)

$26,900 (P.A)

Full-Time (1) Completed a course in Business Administration, Retail or Customer Service.

Tour Guide 1 Tour Guide for set-up. Another Tour Guide in 2013.

Knowledge of the route to be covered and tourist attractions, knowledge of Taupo’s and New Zealand’s culture, history, society and geography.

$1,375 (F.N)

$33,000 (P.A)

Full Time (2) A Certificate in Tour Operations & Guiding and First-Aid.

Shuttle Driver 2 extra drivers will be hired in 2013.

Customer Service Experience. First Aid Certificate.

Full-Time: $1,208.33 (F.N), $29,000 (PA). Part Time: $625 (F.N) $15,000 (P.A)

Full-Time (1)

Part-Time (1)

Class 4 driver's licence and a 'P' (Passenger) endorsement on their licence, and held full-license for 2 years prior.

Appendices

46


Job Description – Small Business Owner / Manager

Job Title Shuttle Manager/Owner.

Purpose of Job Small business owners run their own businesses, selling a service. The Manager will also be a Full-Time Driver – providing the service, and the ability to work alongside the business’s employees.

Reporting Relationships

Close relationship with all employees, especially the Office Receptionist / Administrator. Employees report to Manager. Business Relationships with the business’s accountant, bank manager, investors etc…

Expected Targets & Outcomes

To full all seats during peak-season- in summer, school holidays etc…, and promote and ensure stable growth in off-peak seasons where more airport transfers can be done. Sales can also be met by providing educational and interactive tours for school/sports groups to complete. (Sales Outcome). Maintain high quality customer focused service, which takes the environment into consideration (Service outcome).

Key Tasks and Responsibilities

Prepare and review business plans and annual budgets. Analyse the market to decide when to introduce new products or services. Ensure prices are competitive. Market and promote goods or services. Monitor cash flow and debts. Keep a record of sales and orders, and log book of kilometers travelled at the start and end of each tour. Order stock and replace equipment. Hire and train staff. Process government taxes and levies.

Person specification Courses in retail, management, marketing, tourism or finance would be beneficial. Experience as a Small-Business Manager.

There are also workshops and courses for small business owners who are interested in ongoing training and development (T&D).

First-Aid Certificate/Certificate in Occupational Safety & Health. Customer Service Skills. Certificate in Business Administration.

Personal Qualities Small business owners need to be dedicated, hard-working, practical/realistic, adaptable to changes, a quick thinker and able to make good judgments.

Appendices

Job Title Office Receptionist / Administrator (Works in office at Manager’s Premises – set up primarily for business purposes).

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Purpose of Job Receptionists greet visitors, clients or patients and deal with telephone enquiries. They may also schedule appointments and do administration tasks.


Reports directly to Shuttle Manager/Owner regarding ticket sales and enquires which need to be directed to the manager to handle.


Provide the highest customer service standards. Aid and be helpful to all clients/customer’s needs.

Keep in contact with accommodation providers and the Taupo i-site to increase sales.


Greet visitors, clients/customers. Complete booking and direct booking onto Shuttle Manager/Owner to delegate. Answer and reply to telephone calls and emails (enquiries and bookings), direct enquiries to Shuttle Manager if they cannot be met by Office Receptionist. Administrative tasks like typing, filing, photocopying and sorting mail and faxes. Order office supplies with the approval of the Shuttle Manager. Look after a petty cash account and do the banking with the Manager’s Approval of all direct income.

Person specification Good communication and listening skills, computer and word processing skills, planning and organisational skills, and knowledge of administration policies, systems and procedures. Completed a course in Business Administration, Retail or Customer Service.

Personal Qualities Need to have a pleasant and efficient manner on the phone, email and in person, multi task and work well under pressure, and be sensitive to the needs of people from all ages, cultures and lifestyles.

Job Description – Office Receptionist / AdministratorAppendices

48


Job Description – Tour Guide

Job Title Shuttle Tour Guide.

Purpose of Job Tour guides escort people on sightseeing, educational or other tours and describe points of interest.


Tour Guides report directly to Shuttle Manager first before each tour commences. Then they will report to the Shuttle Driver/s to complete the tour guiding on the Day or Half-Day Tours.


Insure the highest customer satisfaction and experience – to encourage customers to return in the future and refer our service onto others (Service Outcome). Involve customers in the Tours, and “Wow” them by informing them of interesting facts and history. Have the ability to greet and farewell customers in English, Japanese, and Chinese and in Indian – if they belong to these nationalities/culture – increase customer’s overall experience. Continually look to improve the customer’s experience.


Describe and explain points of interest on the tour/s, inform customers of history and beginnings, answer questions, market their business and act as an interpreter / or the ability to greet and farewell customer’s in the national language.

Person specification Need to have knowledge of the route to be covered and tourist attractions, knowledge of Taupo’s and New Zealand’s culture, history, society, geography, and possibly its flora and fauna. Research skills, to collect information about the tour route and/or destinations and attractions, leadership skills, communication and public speaking skills and problem-solving skills. Need to have knowledge of safety procedures, and crisis and risk management skills and the Health and Safety in Employment Act 1992. As well as planning, organisational, time management and sales skills. A Certificate in Tour Operations & Guiding, and a First-Aid Certificate would be beneficial.

Personal Qualities Need to be friendly, outgoing and able to put people at ease, polite and patient, responsible and trustworthy. They need to be helpful and perceptive of visitors' needs, able to remain calm in an emergency and able to relate to people from a wide range of cultures and backgrounds.

Appendices

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Job Description – Shuttle Driver

Job Title Shuttle / Mini-Bus Driver (Full and Part-Time).

Purpose of Job Shuttle drivers drive vans / mini-buses and passengers pay fares/ticket to take day tours / airport transfers.


Shuttle Drivers need to report directly to the Shuttle Manager at the start of each day, and at the end of the day.

Part-Time Shuttle Drivers will report firstly on request from the Shuttle Manager to cover for the Half-Day Tours or the Manager’s Full-Day Tours. Part-Time Shuttle Driver will run directly under the Full-Time Driver, and the Shuttle Manager/Owner.


Service outcome – make customers/clients feel welcomed. Maintain high quality customer focused service.


Collect passengers, drive passengers to attractions (Tours) and/or the Taupo Airport – drop off at their accommodation / Taupo i-site. Make sure passengers wear their seat belts, ensure passenger safety, provide child safety seats to passengers with small children, keep records of rides and fares. Keep a log book of kilometers travelled for each tour and airport transfer or travelled each day – for accounting purposes. Keep the vehicle clean and tidy in between half day tours (after each day the shuttle driver will clean down all surfaces and shine up outside of van for next day.

Person specification Mini-bus driver of a passenger vehicle needs to have a Class 4 driver's licence and a 'P' (Passenger) endorsement on their licence, which shows they can carry passengers. Drivers need to have their full licence for at least two years before they can get the P endorsement. Customer Service Experience. First Aid Certificate.

Personal Qualities Need to be punctual and honest. They also need to be friendly, polite and able to relate well to a wide range of customers. Shuttle drivers need to be responsible, alert and patient - as they often drive along busy and heavily congested roads and are responsible for the safety of their passengers.

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Taupo's Tourist Shuttle Ltd.Appendix

Sales Forecast 2011 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TotalSales

Day Tours0%

$12,800

$12,000

$11,500

$10,500

$8,000 $9,000

$8,000

$8,500

$10,000

$11,500

$11,800

$12,960

$126,560

Airport Transfers0% $900 $750 $750 $700 $650 $850 $650 $650 $700 $750 $750 $900 $9,000

Other0% $1,100 $850 $800 $750 $700 $750 $700 $750 $800 $800 $850 $1,150 $10,000

Total Sales$14,80

0$13,60

0$13,05

0$11,95

0$9,35

0$10,60

0$9,35

0$9,90

0$11,50

0$13,05

0$13,40

0$15,01

0$145,56

0 Direct Cost of Sales Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total

Shuttle Tickets $1,776 $1,632 $1,566 $1,434$1,12

2 $1,272$1,12

2$1,18

8 $1,380 $1,566 $1,608 $1,801 $17,467Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Subtotal Direct Cost of Sales $1,776 $1,632 $1,566 $1,434

$1,122 $1,272

$1,122

$1,188 $1,380 $1,566 $1,608 $1,801 $17,467

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Personnel Plan 2011 Jan Feb Mar Apr May JunShuttle Manager & Full Time Driver 43% $ 3,750.00 $ 3,750.00 $ 3,750.00 $ 3,750.00 $ 3,750.00 $ 3,750.00 Office Staff/Receptionist (Full-Time) 25% $ 2,166.67 $ 2,166.67 $ 2,166.67 $ 2,166.67 $ 2,166.67 $ 2,166.67 Tour Guide/Commentator 32% $ 2,750.00 $ 2,750.00 $ 2,750.00 $ 2,750.00 $ 2,750.00 $ 2,750.00 Full-time drivers (extra) 0% $ - $ - $ - $ - $ - $ - Part-time drivers 0% $ - $ - $ - $ - $ - $ - Total People 3 3 3 3 3 3 Total Payroll $ 8,666.67 $ 8,666.67 $ 8,666.67 $ 8,666.67 $ 8,666.67 $ 8,666.67

Jul Aug Sep Oct Nov Dec

$ 3,750.00 $ 3,750.00 $ 3,750.00 $ 3,750.00 $ 3,750.00 $ 3,750.00 $ 2,166.67 $ 2,166.67 $ 2,166.67 $ 2,166.67 $ 2,166.67 $ 2,166.67 $ 2,750.00 $ 2,750.00 $ 2,750.00 $ 2,750.00 $ 2,750.00 $ 2,750.00 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

3 3 3 3 3 3 TOTAL

$ 8,666.67 $ 8,666.67 $ 8,666.67 $ 8,666.67 $ 8,666.67 $ 8,666.67 $ 104,000.00

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Revenue / Salary P.A Month Fortnight Weekly

Shuttle Manager & Full-time Driver $ 45,000.00

$ 3,750.00

$ 1,875.00

$ 937.50

Office Staff/Receptionist $ 26,000.00

$ 2,166.67

$ 1,083.33

$ 541.67

Tour Guide $ 33,000.00

$ 2,750.00

$ 1,375.00

$ 687.50

Full-time Drivers $ 29,000.00

$ 2,416.67

$ 1,208.33

$ 604.17

Part-time Drivers $ 15,000.00

$ 1,250.00

$ 625.00

$ 312.50


General Assumptions 2011 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecPlan Month 1 2 3 4 5 6 7 8 9 10 11 12Current Interest Rate 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%Long-term Interest Rate 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%Tax Rate 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00%Other 0 0 0 0 0 0 0 0 0 0 0 0

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Profit & Loss 2011 Jan Feb Mar Apr May Jun Sales $ 14,800.00 $ 13,600.00 $ 13,050.00 $ 11,950.00 $ 9,350.00 $ 10,600.00 Direct Cost of Sales $ 1,776.00 $ 1,632.00 $ 1,566.00 $ 1,434.00 $ 1,122.00 $ 1,272.00 Other Production Expenses $ - $ - $ - $ - $ - $ - Total Cost of Sales $ 1,776.00 $ 1,632.00 $ 1,566.00 $ 1,434.00 $ 1,122.00 $ 1,272.00 Gross Margin $ 13,024.00 $ 11,968.00 $ 11,484.00 $ 10,516.00 $ 8,228.00 $ 9,328.00 Gross Margin % $ 8.33 $ 8.33 $ 8.33 $ 8.33 $ 8.33 $ 8.33 ExpensesPayroll $ 8,666.67 $ 8,666.67 $ 8,666.67 $ 8,666.67 $ 8,666.67 $ 8,666.67 Sales, Marketing & Other Expenses $ 750.00 $ 750.00 $ 750.00 $ 750.00 $ 750.00 $ 750.00 Depreciation (Diminishing Value 10%) $ 1,789.75 $ 1,789.75 $ 1,789.75 $ 1,789.75 $ 1,789.75 $ 1,789.75 Insurance $ 400.00 $ 400.00 $ 400.00 $ 400.00 $ 400.00 $ 400.00 Payroll Taxes $ 1,463.08 $ 1,463.08 $ 1,463.08 $ 1,463.08 $ 1,463.08 $ 1,463.08 Other $ - $ - $ - $ - $ - $ - Total Operating Expenses $ 13,069.50 $ 13,069.50 $ 13,069.50 $ 13,069.50 $ 13,069.50 $ 13,069.50 Profit Before Interest & Taxes -$ 45.50 -$ 1,101.50 -$ 1,585.50 -$ 2,553.50 -$ 4,841.50 -$ 3,741.50 EBITDA $ 1,744.25 $ 688.25 $ 204.25 -$ 763.75 -$ 3,051.75 -$ 1,951.75 Interest Expense $ 179.92 $ 179.92 $ 179.92 $ 179.92 $ 179.92 $ 179.92 Taxes Incurred -$ 1.06 -$ 25.70 -$ 36.99 -$ 59.58 -$ 112.97 -$ 87.30 Net Surplus/Deficit -$ 224.35 -$ 1,255.71 -$ 1,728.42 -$ 2,673.83 -$ 4,908.45 -$ 3,834.11

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Net Surplus/Deficit % -1.52% -9.23% -13.24% -22.38% -52.50% -36.17%

Jul Aug Sep Oct Nov Dec $ 9,350.00 $ 9,900.00 $ 11,500.00 $ 13,050.00 $ 13,400.00 $ 15,010.00 $ 1,122.00 $ 1,188.00 $ 1,380.00 $ 1,566.00 $ 1,608.00 $ 1,801.20 $ - $ - $ - $ - $ - $ -

$ 1,122.00 $ 1,188.00 $ 1,380.00 $ 1,566.00 $ 1,608.00 $ 1,801.20

$ 8,228.00 $ 8,712.00 $ 10,120.00 $ 11,484.00 $ 11,792.00 $ 13,208.80 $ 8.33 $ 8.33 $ 8.33 $ 8.33 $ 8.33 $ 8.33

$ 8,666.67 $ 8,666.67 $ 8,666.67 $ 8,666.67 $ 8,666.67 $ 8,666.67 $ 750.00 $ 750.00 $ 750.00 $ 750.00 $ 750.00 $ 750.00 $ 1,789.75 $ 1,789.75 $ 1,789.75 $ 1,789.75 $ 1,789.75 $ 1,789.75 $ 400.00 $ 400.00 $ 400.00 $ 400.00 $ 400.00 $ 400.00 $ 1,463.08 $ 1,463.08 $ 1,463.08 $ 1,463.08 $ 1,463.08 $ 1,463.08 $ - $ - $ - $ - $ - $ -

$ 13,069.50 $ 13,069.50 $ 13,069.50 $ 13,069.50 $ 13,069.50 $ 13,069.50

-$ 4,841.50 -$ 4,357.50 -$ 2,949.50 -$ 1,585.50 -$ 1,277.50 $ 139.30 -$ 3,051.75 -$ 2,567.75 -$ 1,159.75 $ 204.25 $ 512.25 $ 1,929.05

$ 179.92 $ 179.92 $ 179.92 $ 179.92 $ 179.92 $ 179.92 -$ 112.97 -$ 101.67 -$ 68.82 -$ 36.99 -$ 29.81 $ 3.25

-$ 4,908.45 -$ 4,435.74 -$ 3,060.59 -$ 1,728.42 -$ 1,427.61 -$ 43.86 -52.50% -44.81% -26.61% -13.24% -10.65% -0.29%

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Cash Flow 2011 Jan Feb Mar Apr May Jun Cash Received Cash from OperationsCash Sales $ 14,800.00 $ 13,600.00 $ 13,050.00 $ 11,950.00 $ 9,350.00 $ 10,600.00 Subtotal Cash from Operations $ 14,800.00 $ 13,600.00 $ 13,050.00 $ 11,950.00 $ 9,350.00 $ 10,600.00 Additional Cash ReceivedSales Tax, VAT, HST/GST Received 0.00% $ - $ - $ - $ - $ - $ - New Long-term Liabilities $ 21,590.00 $ - $ - $ - $ - $ - Capital Investment $ 50,000.00 $ - $ - $ - $ - $ - Subtotal Cash Received $ 86,390.00 $ 13,600.00 $ 13,050.00 $ 11,950.00 $ 9,350.00 $ 10,600.00 Expenditures Jan Feb Mar Apr May Jun Expenditure from OperationsCash Spending $ 725.20 $ 666.40 $ 639.45 $ 585.55 $ 458.15 $ 519.40 Bill Payments $ 11,279.75 $ 11,279.75 $ 11,279.75 $ 11,279.75 $ 11,279.75 $ 11,279.75 Subtotal Spent on Operations $ 12,004.95 $ 11,946.15 $ 11,919.20 $ 11,865.30 $ 11,737.90 $ 11,799.15 Additional Cash SentPAYE Taxes to IRD $ 1,463.08 $ 1,463.08 $ 1,463.08 $ 1,463.08 $ 1,463.08 $ 1,463.08 Long-term Liabilities Principal Repayment $ 105.40 $ 106.28 $ 107.16 $ 108.05 $ 108.95 $ 109.86 Purchase Long-term Assets $ 71,590.00 $ - $ - $ - $ - $ -

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Subtotal Cash Spent $ 73,158.48 $ 1,569.36 $ 1,570.24 $ 1,571.13 $ 1,572.03 $ 1,572.94 Net Cash Flow $ 13,231.52 $ 12,030.64 $ 11,479.76 $ 10,378.87 $ 7,777.97 $ 9,027.06 Cash Balance $ 13,231.52 $ 12,030.64 $ 11,479.76 $ 10,378.87 $ 7,777.97 $ 9,027.06


$ 9,350.00 $ 9,900.00 $ 11,500.00 $ 13,050.00 $ 13,400.00 $ 15,010.00 $ 9,350.00 $ 9,900.00 $ 11,500.00 $ 13,050.00 $ 13,400.00 $ 15,010.00

$ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

$ 9,350.00 $ 9,900.00 $ 11,500.00 $ 13,050.00 $ 13,400.00 $ 15,010.00


$ 458.15 $ 485.10 $ 563.50 $ 639.45 $ 656.60 $ 735.49 $ 11,279.75 $ 11,279.75 $ 11,279.75 $ 11,279.75 $ 11,279.75 $ 11,279.75 $ 11,737.90 $ 11,764.85 $ 11,843.25 $ 11,919.20 $ 11,936.35 $ 12,015.24

$ 1,463.08 $ 1,463.08 $ 1,463.08 $ 1,463.08 $ 1,463.08 $ 1,463.08

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$ 110.78 $ 111.70 $ 112.63 $ 113.57 $ 114.52 $ 115.47 $ - $ - $ - $ - $ - $ -

$ 1,573.86 $ 1,574.78 $ 1,575.71 $ 1,576.65 $ 1,577.60 $ 1,578.55

$ 7,776.14 $ 8,325.22 $ 9,924.29 $ 11,473.35 $ 11,822.40 $ 13,431.45 $ 7,776.14 $ 8,325.22 $ 9,924.29 $ 11,473.35 $ 11,822.40 $ 13,431.45

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Business Plan - SME Tourism Venture (Tourism Industry Management)

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