COMPANY- TRAVEL BUSINESS NOTE: you can see attached files, you can get the business idea from there and exactly what to write in this paper. Objectives On successful completion of this assignment,

COMPANY- TRAVEL BUSINESS NOTE: you can see attached files, you can get the business idea from there and exactly what to write in this paper. Objectives On successful completion of this assignment,
Part I: Strength of the Business Idea Extent to which the idea: Strong Takes advantage of an environmental trend Solves a problem Addresses an unfilled gap in the marketplace 2. Timeliness of entry to the market – Moderately timely 3. Extent to which the idea “adds value” for its buyer or end user – High 4. Extent to which the customer is satisfied by competing products that are already available- Very satisfied 5. Degree to which the idea requires customers to change their basic practices or behaviors- Small to no change required Part 2: industry related issues Number of competitors – Many Stage of the industry life cycle- Growth phase Growth rate of the industry- Moderate Importance of industry’s products and/or services to customers- Must have Industry operating margins- Moderate Part 3: Target market and customer-related issues Identification of the target market for the proposed new venture- Identified Ability to create “barriers to entry” for potential competitors- May or may not be able to create Purchasing power of customers- Moderate Ease of making customers aware of the new product or service- High Growth potential of target market- High Part 4: Founders’ related issues Founder’s or founders’ experience in the industry- Moderate experience Founder’s or founders’ skills as they relate to the proposed new venture’s product or service- moderate skills Extent of the founder’s or founders’ professional and social networks in the relevant industry- Extensive Extent to which the proposed new venture meets the founder’s or founders’ personal goals and aspirations- Strong Likelihood that a team can be put together to launch and grow the new venture- moderately likely Part 5: Financial issues Initial capital investment- Low Number of revenue drivers (ways in which the company makes money)- One Time to break even- Less than one year Financial performance of similar businesses- moderate Ability to fund initial product (or service) development and/or initial start-up expenses from personal funds or via bootstrapping- Low Overall potential Part I: Strength of the Business Idea- High Potential Part 2: industry related issues – moderate Part 3: Target market and customer-related issues – Moderate Part 4: Founders’ related issues – High potential Part 5: Financial issues- low potential Overall assessment- Moderate Summary-
COMPANY- TRAVEL BUSINESS NOTE: you can see attached files, you can get the business idea from there and exactly what to write in this paper. Objectives On successful completion of this assignment,
Running Head: BUSINESS IDEA 0 Business Idea Name 2019081614 University BUSI 4046/4053- Final business plan Professor Date Part 1: Business Ideas Introduction Establishing and growing of business is important for the individuals involved. The ability of the business to be able to survive into the future relies on the ability of the company to overcome competition. When the business can develop and grow then the likelihood of getting out of the market is minimized (Rauch & Rijskik, 2013). Starting a business is important for the company as well as the owners of the business. When the business can grow they are most likely to expand to new regions (Davidson et al., 2010). There are different business ideas that I have which I will look at and rank the one which I will be able to start since it’s the high-ranking one. Business idea For my business, I have three main business ideas that are restaurant business, sports clothing, and travel website. Three of these ideas are unique and profitable. But out of these, I have chosen only one for a final business plan. So, My business idea that I am desiring to develop is a travel website that assists people in knowing where they can affordably go as well as enjoy. There are internal and external factors that could affect this business idea. Internally there is some nation that has got strict rules concerning health, safety as well as security for protecting tourists, there is a challenge with accessibility, lacking some products ad services, the challenge in accessing quality goods and services, the value of the money plus the marketing campaigns which will affect the popularity of the website. Externally the website will be impacted by the exchange rate, competition from other websites, restrictions in traveling, emerging new markets, and weather where tourists will not be assured of good weather where they are heading to. For all people who are looking for something exciting and rememberable, I have a really good platform, that is ‘travel with us, this is a website for this travel worldwide. Our website will give an affordable and comfortable chance to people who want to travel but don’t have much knowledge and experience. This website will give them a wonderful experience, as we will provide guides for the people who really need them. By this even we our generating employment for people who want to travel and work, so this platform would be very beneficial for those employees. Last but not least, as every business needs to be profitable, so for that we take different charges from every customer, so, first of all, there are some registration charges for people who want to travel with us and need guidance for their trip like how much it expenses them, which location would be affordable and enjoyable for them as per there budget and so on. It would be free guidance for people who register with us for a year. Then depending upon the location and number of people etc. we will charge the trip charges. All the information is on the website, we are here whenever they need us. Our tagline is ‘YOU NEED US, THE WORLD NEEDS YOU’. References Davidsson, P., Achtenhagen, L., & Naldi, L. (2010). Small firm growth. Foundations and Trends in Entrepreneurship, 6(2), 69-166. http://dx.doi.org/10.1561/0300000029 Rauch, A. & Rijskik, S.A. (2013). The effects of general and specific human capital on long-term growth and failure of newly founded businesses. Entrepreneurship Theory and Practice (3), 923-941
COMPANY- TRAVEL BUSINESS NOTE: you can see attached files, you can get the business idea from there and exactly what to write in this paper. Objectives On successful completion of this assignment,
Running Head: Part 2- Concept Statement 0 Part 2: Concept Statement for a travel website Name 2019081614 University BUSI 4046/4053- Final business plan Professor Date Product/ Service description In coming up with the travel website there are different features that I will ensure exist in this product to make it easier for the visitors to navigate and search for what they want. In the development of this product customer satisfaction is key to the success of the product and to have a competitive advantage over our competitors the following features are involved in this product. The product has got straightforward filters that will make it easy for getting the destination results updated in real-time. The other feature the product will have is a predictive search which will provide the results based on the names of the hotels, city among others. The product will also have huge beautiful images for attracting customers to the website and keeping them hooked upon it. We will also have a customer review part where the travelers can provide feedback on their experience with the website and the areas they want to be improved upon. There is a favorite list in the product that will assist in remembering the fancy search you took The other features that will be involved in the product will be the simple idiot-proof calendars, clear prices, integration of google maps, plus a simple checkout. Target market In coming up with the travel website the main groups that we will be targeting will be business travelers, family vacationers, friends’ gateway plus the international jet setters whereby their gateways will be planned differently as well as travel brands having the opportunity for connecting via effective target marketing of the different stages for planning their cycles. Benefits or value of a travel website The website will be acting as the meeting for reaching the customers with important information. Customers can also consult the website in areas they want to know more about and identify information concerning different places they want to visit before planning for a visit. This website will be important in planning their journeys and identifying the best locations they can visit. The other benefits of the website include: Being able to add multiple tour details on the website. The destination details can be uploaded using HD images. Any notice can be shared on the website. The testimonies about the experience can be shared on the website. On the website, there is a search option. There is an option for a virtual tour. Management team To ensure success in the development and running of the website there will be the following team members in place. A lead designer will be responsible for the roles of design. A lead developer will be responsible for setting standards concerning what should be written. An assistant developer will be working under the lead developer. Web manager is the last point before the corporate roles. A content producer will be charged with writing articles. A senior editor will be responsible for overseeing the editing work. Social media plus public relations coordinator who is responsible for how the company interacts with customers. The marking coordinator will be responsible for the marketing of the website.