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Travel Booking

So, are you planning to start your travel booking business ???

We will help you to make best business plan for your dream company !!!

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STEP 1

Write a Summary

Write a brief description of your travel booking business

which include details about:

How are you planning to start travel booking business?

Objective behind starting a travel booking business?

What will be your products and services?

What will be the location of your company?

Will you take it to online platform or not?

Write a snippet of market you have covered in

Business Plan

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Write brief description about your founder and

management team?

Strategies you have planned to use for your travel

booking business?

How much amount of fund are you seeking from

investors? In what you will use this fund? For example :

Ongoing research and development, working capital,

organizational and marketing expenses.

Where do you see your business in future? Your

mission, vision and objectives?

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STEP 2

Step 2

What Are Your Products And Services ???

Write what products and services in

travel booking business will you offer ?

For example, booking of car , bus, train

and flight tickets

Write operational plan for how will

you provide above services to your

potential customers?

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MARKET ANALYSIS

Step 3

• Write your market potential analysis to justify the demand for your services.

•Get complete demographic information about your perspective clients.

• Carry out in-depth market study that profiles the target customer base, current sales,

trends, opportunities, growth in the market area for travel booking business category,

pricing and special features of competitors.

• Plans for differentiation in the proposed travel booking

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EXAMPLE

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Step 3 continue

In 2014 Industry Report reveals seven out of 10 (70%) UK people took at least one holiday, a minimum of seven nights either overseas or in

the UK, this year. 1,450 people were asked if they had

a holiday this year to get1,011 positive answers.

Our Target Market is U.K.(United Kingdom)

Write barriers to entry by using Five force model. It includes :• Power of buyers • Power of suppliers• Rivalry among existing firms • Threats of substitutes • Threats of new entrants

Example

Write competitive analysis, which include

comparison between competitors features.

Competitors Products and Services

XYZ CompanyFlight deals:

U.K. to USA

U.K to Asia

238 £

400 £

Prices

Flight deals:

U.K. to USA

U.K to Asia

300 £

600 £

ABC Company

Step 3 continue

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Example

•Bargaining Power of Buyers :Price sensitivity is high

•Bargaining Power of Suppliers: Bargaining power of suppliers is high

• Rivalry among Existing Firms : Competition in this business is very high

• Threat of Substitutes : No substitutes for travelling industry

• Threat of new entrants : Medium barrier to entry

Step 4

Include your expertise and qualifications and

the details about how will you manage your

travel booking business . Who all are your

team members? How will you manage as a

team? what roles will they be performing?

What will be the organization structure?

MANAGEMENT TEAM

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Step 5

MARKETING PLAN FOR TRAVEL BOOKING BUSINESS

What will you do to attract potential customers to purchase online and offline ? Write a

marketing plan for that first. A marketing plan should contain details about your

marketing, pricing and promotional strategies for example, outline your pricing strategy,

what all products and services you will sell, what will be your pricing strategy.

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Examples :

Some of the strategies your business should include :

Free mobile application download

Competition for customers and provide amazing prices to

them. Example, discounted trip to Thailand

Offers and discount coupons

Discount coupons to referrals on bringing new customers

Include SWOT(Strength, weakness, opportunity and threat) analysis

Strengths Weaknesses

Opportunities Threats

• Team of skilled expertise• Systematic work

Note : Here include internal strengths of your travel

booking business

• Limited services• Low marketing budget

Note : Here include your internal weaknesses of your

travel booking business

• High potential target market• High number of opportunities to expand business with new services

Note : Here include external opportunities for your travel booking

business

• High competition in market • Competitors provide same services at lower prices

Note : Here include external threats for travel

booking business

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Step 5 continue

EXPANSION PLAN

Write details about the expansion of your travel

booking business which include details about :

In what location you will expand your travel booking

business ?

What all services you will add in future?

In which sector you will expand your travel booking

business?

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Step 5 continue

FINANCIAL PROJECTIONS

Write down your goals for sales and profits, as well as for your

operating budget. Make the financial projections for your business .

Outline all your costs such as website development , salaries,

equipment costs for travel booking business products and services, and

other overheads, project your revenue, Profit and Loss , Cash flow

statement, Balance sheet, Breakeven Analysis etc. to complete your

financial projections.

 

Step 6

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Step 1Prepare a startup table which will include information about expenses and assets incurred by travel booking business before starting up the business operations.

Step 2 Revenue and Cost is the most important part of business. Profit and loss of travel booking business will totally depend on revenue and cost. Prepare assumptions to calculate revenue and expenses.

Step 3 Prepare projected profit and loss statement on the basis of revenue and total cost incurred(Direct and Indirect) by travel booking business .

Step 4Prepare a projected cash flow statement by breaking the analysis down to operating, investing and financing activities.

Step 5Prepare a projected balance sheet and give effect of assets and liabilities incurred by travel booking business.

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Step 6 continue

Step 6Prepare a summarized report which will contain an yearly overview of profit and loss statement, cash flow statement, balance sheet statement and ratios.

Step 7Calculate BEP(Breakeven point) by preparing the breakeven analysis to know in which year travel booking business achieving BEP.

Step 8Prepare ratio analysis to evaluate various aspects of travel booking business operating and financial performance such as its efficiency, liquidity, profitability and solvency.

Step 9Calculate ROI (Return on investment) to know how much amount of return investors will get in future.

Step 10Prepare a business valuation to know how much return travel booking business will achieve in future and what will be the market value in future?

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Step 6 continue

GET YOUR COPY OF PLAN TODAY!!

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