Top-Rated Free Essay
Preview

Business 520

Better Essays
1329 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Business 520
Business Plan Part I
Sabekhon Nahar
Bus 521
July 21, 2013

The goal of Lucky Inc. is to develop a foremost business owner of the traveling agency for the individual of the age range from about 20 to 30 year old. Lucky Inc. will be devoted to establish stronger relationship within their clients via extensive lesson of how to treat guest and sever them the best service, and would like the company to well popular among the clients and other publics as the most popular tourist agency in the Ideal area. The main focus of the firm would be to gradually develop, and become successful by the first few years of operations.
Our main goal would be to provide an excellent professional facility through demonstrating an adequate understanding of the places that individual would like to travel to and adventurous events that will be held. On an industrial report stated that the biggest disparagement of the variety of customers that has been to the tourist companies that already exists “know nothing about their products, they just open the catalogue and read,” to quote one of many disappointed travelers (Blackwell, 2008, p.332).
To make the most of over the knowledge and skills we gained in the Lucky Inc. apparel store, staff would to both educate and instruct the customers to the various types of vacation accessories that they might be wanting of to have the quality vacation time they planned out while they are in the Ideal area.
Products and Services
Recently, Lucky Inc. became as the allotted agents for Ideal’s Travel, which will be the biggest and popular traveling agency out in the marketplace. However, per almost with no advertising, Lucky Inc. has sold about 200 adventure vacations in the past several months, netting about $56, 800 in commissions including the sales of insurance policies and other services also have calculated to this amount, and could possibly add much more. Lucky Inc.’s clients will also be offered to have the opportunity of an inclusive variety of facilities to services to help their exciting tour, including seminars of before and after trip, tourist coverage, and a booklet of specific offers to each vacation place, etc.
I plan to sell my share in the apparel store and finance the profits in my potential new company which will be a traveling agency as Lucky Inc. Moreover, I would be also financing $51, 600 of my savings from the past years in this company, and take loans of $70,000 probably from friends and relatives. Furthermore, the return on shareholders capital by three year is anticipated to be close to 100 percent. The perseverance of this business plan is to converse this high profitable opportunity to my co-owner in the clothing shop and to the other investors of different organizations to encourage their interest in the venture.
Alternatively, I’m also thinking of a loan finance made up of a $31,940 for about couples of years and a credit line of $48,620. In total, I will be in need of about $80,560 to fund the company for the first few months.
The majority of the population of Ideal County is well educated, experienced, active, and pretty stable. The residences of the county also are the individuals who sincerely devoted to the location and have inclined to stay and wait out past periods of economic downturn. The dynamic economy, the lifestyle of Ideal County, and its exceptional environmental qualities attract people. Moreover, both public officials and business leaders are also aware of the need to keep our labor force well-armed with the marketable skills.
From the Ideal County’s population, our potential targeted clients are the people who are professionals with annual earnings of about $50,000+, ages 20 to 30, whether single or married, without children, and college educated.
Market Definition
The projection of the world travel market is to grow about at greater than 4 percent average annually. I believe that this is somewhat faster than our general economic growth every year.
I also planned to advertise my company outside of the United States. Hence, I selected such market like the European market, which is not the firmest growing market, and I believe this will be the most important destination, considering most the travelers will be international. I also think that among Europe, France, Italy, and Spain are the most popular destinations. Therefore, I decided to select tour operators with appropriate products in these areas as our initial partners.
Business model
The business model that will be used for this company is a distributor which is any business that purchases products directly from a manufacturer for resale either to retail outlets or directly to the buying public (Duhigg, 2012). For instance, a technology distributor would purchase computer parts from a technology manufacturer and then sell those parts wholesale to retail outlets for sale to the general public (Duhigg, 2012). An auto dealership that deals in new cars would purchase vehicles directly from the manufacturer and sell them to the general public (Abrams, 2003). According to the University of Southern California, Wal-Mart Department Stores qualifies as a distributor because it purchases product directly from the manufacturer. Not all department stores have that kind of purchasing power (Duhigg, 2012).
We will also be leasing a combined telephone/data-base system from the onset. This will beneficial by allowing up to ten sales staff to answer calls and have full on-screen data on clients and products.
As service is one of our key components, it is essential that we have full access to all relevant data speedily and efficiently.

| Q1 | Q2 | Q3 | Q4 | Year Total | Sales via promotion | 150 | 325 | 325 | 650 | 1450 | Shop | 200 | 200 | 350 | 350 | 1100 | Total | 350 | 414 | 560 | 1230 | | Number of guest | 200 | 245 | 275 | 140 | 860 | Approximate vacations cost | $3230 | $4324 | $5455 | $25535 | $3549 | Commission received | $44,330 | $47,320 | $61,221 | $87,646 | $52,918 | Commission on insurance & other services received | $2560 | $2130 | $4112 | $4735 | $15,865 | Total commission & fees earned | $44,161 | $42,661 | $66,232 | $213,513 | $358,652 |

All these are feasible. However, there might be times that will not be possible to meet the goals due to many reasons, such as holidays, customers found better deal at other locations, etc. Therefore, I should always be prefer for the worse and make sure that my staffs are well trained to provide the best customer service to my clients.
Since, we are successfully operating the outdoor clothing shop; hence, we are using the adventure travel vacation sales ratio to study how many of them we are being able to sale on up to date. For the determinations of our sales projection, we believe that that only about two in five reviews will essentially effect in an adventure vacation being reserved. However, I believe this is a very conservative evaluation.
I also undertake that there will be a firm accumulation of customers of the clothing shop who will approach us to learn more about the vacation packets and the destinations. Throughout the year we will also be able to bring in more clients by creating more promotional activities and of course our new clients of the clothing store. I am pretty hopeful that we will continue to strive with this trend to make Lucky Inc. to become well known. Based on the prediction, within next year we are projecting to sell about 600 adventure travel vacations for an estimated price of $3000. We also predicted that if we add insurance and other travel related service sales the gross profit will be nearly $ 2500,000 throughout the first year.

Reference
Abrams, Rhonda, (2003). The successful business plan: secrets & strategies. Palto Alto, Calif.: Planning Shop
Blackwell, Edward (2008). How to prepare a business plan. London; Philadelphia: Kogan Page
Duhigg, Charles, (2012). The power of habit: why we do what we do in life and business. New York: Random House

You May Also Find These Documents Helpful

  • Powerful Essays

    unit7

    • 2743 Words
    • 11 Pages

    In this unit you will gain skills to enable you to locate and explore the diverse destinations that make up the European travel market. They will develop your knowledge of the appeal of destinations for different leisure experiences and gain an understanding of the factors affecting the development and decline of selected destinations.…

    • 2743 Words
    • 11 Pages
    Powerful Essays
  • Better Essays

    This company remained unique on its market because it keeps its traditional way of selling services. It is one of the few bodies that do not sell via internet. A holiday can be booked with Trailfinders only by phone or in a shop street. They think that for providing the perfect touristic products, a meeting face to face with a travel agent is necessary. In their opinion, when a holiday is booked on the internet cannot cover all the client’s needs because it is an impersonal action. A customer it can’t be sure if the chosen holiday from the…

    • 2804 Words
    • 9 Pages
    Better Essays
  • Best Essays

    British Airways

    • 3116 Words
    • 13 Pages

    This report will be based upon a promotional plan for revenue enhancement, consisting of a marketing audit of British Airways (BA). It is essential to gather and explore most recent published company information, in order to examine the overall marketing performance of the company. This would further permit a detailed and applicable marketing review of British Airways marketing performance for a given period of time, in relation to internal examination covering a Marketing Mix of their performance and undertaking a SWOT analysis. The external audit will scrutinize the PEST factors of the general business environment. In order to fully comprehend the position of British Airways within the market, a Competitive Analysis (Porter’s 5 Forces) will be taken into account in two ways; one being in a traditional sense and two the competitive structure of the industry.…

    • 3116 Words
    • 13 Pages
    Best Essays
  • Satisfactory Essays

    Business 220

    • 460 Words
    • 2 Pages

    Take a screen shot of the completed activity, and submit it to your instructor in a Microsoft® Word document through the assignments link.…

    • 460 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Business 100

    • 648 Words
    • 3 Pages

    Accountants are in a position to provide advice to business owners to determine which organization structure is best for their particular business venture. Imagine that you were approached by a friend or relative interested in starting a specialty business to design men and women clothing. Discuss the advantages and disadvantages of at least two (2) forms of business structures. Make a recommendation regarding the structure your friend or relative should use based on this particular venture. Explain your rationale.…

    • 648 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Thorpe park recruitment process

    • 40269 Words
    • 162 Pages

    Introduction Unit overview When to teach and submit for moderation Suggested delivery plan with teaching strategies Additional resources Sample assignment brief Appendix – suggested learning activities Evidence Checklists Unit G721: Customer Service in travel and tourism Unit G722: Travel destinations Unit G724: Tourist attractions Unit G725: Organising travel 2 5 6 24 24 25 26 38 38 39 40 49 51 51 51 59 62 63 64 65 65 65 66 66 75 77 78 78 78 78 79 94 97 97 97 98 98 105 107 108 120 120 121 124 125 GCE in Travel and Tourism Teacher Support Materials Unit G726:…

    • 40269 Words
    • 162 Pages
    Powerful Essays
  • Powerful Essays

    Travel and Tourism

    • 1938 Words
    • 8 Pages

    Be able to select, cost and provide information for leisure holidays to meet the needs of customers…

    • 1938 Words
    • 8 Pages
    Powerful Essays
  • Best Essays

    Case Analysis and Report

    • 3764 Words
    • 16 Pages

    Honeymoon Destinations is a business that produces video footage that contains resort-specific and region-specific footage regarding the most popular honeymoon destination resorts including: Hawaiian Islands, Caribbean Islands, Mexico and Florida. The marketing of destinations serve to guide newlyweds by means of capturing videos –including rating each resort based on the most important characteristics such as view, cost and accommodations. These footages attempt to generate an attractive, fascinating and informative product on what the newlyweds can expect on their “once in a lifetime” expedition. (Parry, Mark, 1999)…

    • 3764 Words
    • 16 Pages
    Best Essays
  • Good Essays

    Sloan, G. (2011, January 01). 2011 USA TODAY, a division of Gannett Co. Inc. Retrieved October 03, 2011, from USA Today Travel website: http://travel.usatoday.com…

    • 800 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Adventure Tourism Market

    • 893 Words
    • 4 Pages

    Tourism organisations have facilitated the growth of adventure holidays through promoting and selling a huge range of organised adventure experiences and holidays to a diverse range of markets.…

    • 893 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    • Cooper C., Fletcher J., Fyall A., Gilbert D., Wanhill S, 2008 . Tourism : Principles and Practice , 4th edition, England : Pearson Education Limited…

    • 1556 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Putting into practice what was learned, it is planned to work in the tourism industry as a Passenger Service Agent, through this time a wider range of understanding and knowledge of the company and its roles can be gained. As a Passenger Service Agent it is important to deliver a professional service to the customer, good communication, able to be calm under pressure, to work proactively and independently, to enjoy working with people and to be aware of different culture and their religions, to be hardworking and flexible.…

    • 731 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Business 350

    • 945 Words
    • 4 Pages

    I want to study the relationship between GDP per capita and the adolescent fertility rate. To do this, I have made GDP per capita (constant 2000 US$) my main independent variable and adolescent fertility rate (births per 1000 women ages 15-19) my dependent variable. I also plan to analyze data from other variables such as life expectancy, public spending on education, and the total fertility rate, in order to draw conclusions and deduce if there is a statistically significant relationship among them.…

    • 945 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Business 115

    • 817 Words
    • 3 Pages

    The first step in Mining Group Gold is to effectively focus in on the Primary Facilitator. Essentially this step is important when “this person focuses in on the group dynamics as a whole. The head facilitator in the meeting has a job to create an even flow among the participants. They also must keep all participants on track when activities occur that normally throw the meeting objectives off subject. When the meeting is taking place their job is to take the floor and draw in attention of all members who are present. The key role in this group gold scenario is to re-focus the entire party and put these people back on track focusing mainly on the current objective and finding the goal and objective. (Kayser, 2010)…

    • 817 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    New Enterprise Creation

    • 9437 Words
    • 67 Pages

    time. Most of them often find it hard to strike a balance and end up spending more time…

    • 9437 Words
    • 67 Pages
    Powerful Essays