Business plan Assessment 2022

Running head: BUSINESS PLAN
Assessment Task No 4: Short Form Business Plan Report
[TripAR for the New Start-Up Tourism Agency Business]
Name of the student:
Name of the university:
Author note:

1BUSINESS PLAN
Table of Contents
1. Vision statement..........................................................................................................................3
2. Market analysis............................................................................................................................3
Target customer...........................................................................................................................3
Entry timing.................................................................................................................................3
Pricing strategy............................................................................................................................3
Value to the customer..................................................................................................................4
The projection for sales revenue..................................................................................................4
3. Competitive analysis....................................................................................................................4
Industry........................................................................................................................................4
Competition.................................................................................................................................5
A Unique Selling Proposition (USP)...........................................................................................8
4. Growth strategy...........................................................................................................................8
Employees....................................................................................................................................8
Distribution strategy....................................................................................................................9
5. Products and services.................................................................................................................10
6. Marketing and sales...................................................................................................................10
7. Operational plan.........................................................................................................................10
8. Financials...................................................................................................................................11
References......................................................................................................................................12

2BUSINESS PLAN
Appendices....................................................................................................................................13
Appendix 1: Projection for sales revenue..................................................................................13
Appendix 2: Financials..............................................................................................................16

3BUSINESS PLAN
1. Vision statement
TripAR, the start-up venture is looking forward to unlocking the opportunities therein
offering a new mobile-based application enabled with VR and AR technology. This service will
be made exclusively available to the tourists enabling them to search things quicker, access real-
time feeds on the restaurants and transportation, get a 360° view of the hotels, and so forth.
2. Market analysis
Target customer
This new mobile application will serve many tourist needs. The needs include assisting in
finding hotels and restaurants, offering real-time feed on transportation and hotels, and offering
an overall better user experience (Nayyar et al., 2018).
Entry timing
The service can be accessed 24 hours a day. There would not be any certain entry timing
for accessing the service.
Pricing strategy
Users can pay for this service in numerous ways. They can either go for the annual
subscription or a quarterly. Below is a description (Ramkumar & Woo, 2018):

4BUSINESS PLAN
1. Annual subscription – For annual subscription users will have to pay 70 US dollars.
2. Quarterly – For a quarterly subscription, charges will be 2o US dollars.
Since the start-up venture is offering different payment schemes, users can accordingly avail
the service based on their convenience for pricing.
Value to the customer
Getting to know about the hotel in much detail, tourists will gain a better understanding
of their payment for whether it is going towards a valuable direction. Besides, a real-time feed on
transportations, hotels, etc. will help plan a visit to popular places. Tourists can save on time by
avoiding road traffic, which can be a case with unplanned visits (Yu, 2017). Moreover, the
mobile application will provide a stress-free visit experience.
The projection for sales revenue
(See Appendix 1)
3. Competitive analysis
Industry
TripAR will serve tourists through its mobile-based application. The tourism industry is,
of course, its target market. Studies suggest that VR (virtual reality) and AR (augmented reality)
will become a significant part of the tourism sector in the future. These technologies do not just

5BUSINESS PLAN
produce many business opportunities for tourism businesses but also enhance the overall tour
experience of tourists.
Competition
The usefulness of AR and VR should draw much attention to it. TripAR mobile
application designed especially for the tourists should find competition into many startups
players as well as mobile applications. Below is a description of the competition:
Competitor(s) Target market Service Benefits
Timeshifter frequent travelers
such as business
travelers, casual
vacationers and
athletes
advises people
to adjust their
usual actions
concerning
time; For
example, it
can notify one
to stay awake
at times the
target
customer
would usually
sleep.
presents unique solutions on problems associated
with health management; helps to boost up the
time management skills
AirBuy travelers collaborates travelers will get product recommendation either

6BUSINESS PLAN
digitally with
online travel
agents,
airlines and
airports to
provide an
optimized
solution for
duty-free
purchases and
revenues.
at home or hotel; travelers can pay digitally and
collect either before their departure or upon
arrival;
HeyCars airport transfers It is a global-
ride booking
app that
enables
travelers to
get a driver
available to
them at the
airport before
their actual
arrival.
reduces the stress that is there in searching for a
cab
MyCash Online the marginalized A kind of e- The service helps to pay for bills, top-up mobile

7BUSINESS PLAN
community of
migrants as well as
foreign workers in
Australia,
Malaysia and
Singapore
wallet service
offered to
migrants to
enable them to
top up prepaid
phones, pay
bills, etc. Bus
tickets
particularly to
and from
Malaysia and
discounted
flight tickets
from not less
than 17
airlines are
also offered.
phones, etc.
Qiantech travelers tour
navigation
services
allows users to view as well as experience the
masterpiece of a museum or a tower integrated
for the AR purpose
Table 1: Competition
(Source: Techinasia.com, 2020)

8BUSINESS PLAN
The above table indicates the list of competitors for ‘TripAR’. The findings suggest that
‘Qiantech’ can be its direct competitor. Qiantech just like ‘TripAR’ offers a 360° view of the
desired place. However, ‘TripAR’ holds the advantage of also offering a solution on real feeds as
well as an all-in-one service facility. A wider range of services should give ‘TripAR’ advantage
over its competitors.
A Unique Selling Proposition (USP)
When there is no clue about what is next to a hotel, ‘TripAR’ lets travelers find an
answer. It does not just help to find the most suitable restaurant but also guide the traffic
congestion. Such guidance is important to plan a visit and avoid unwanted delays.
4. Growth strategy
To launch this service, TripAR would require an adequate resource to execute different
related activities. These are:
Employees
A team of professionals having expertise in diverse tasks will be deployed to produce this
application. Below is a mention of the workforce:
Sales and marketing: They will take care of the promotion part of the project. The
promotion will be done using press releases and public relations. Public relations will be done for
image build-up, to interact with the media and to inform the target audience of the service. Press
releases are good ways to produce detailed information on and to let the people know more about

9BUSINESS PLAN
the service (Camilleri, Camilleri & Acocella, 2018). The sales team will upsell a higher package
to the existing customer whereas the most suitable package to a new customer.
Service development: The application will be developed by a group of people having
expertise in coding and software development works (Fitzgerald & Stol, 2017). These people
will take care of the technical part of the project. Any application-related issue notified during
the implementation phase will be taken care of by these people.
Finance: The finance team will take care of monetary transactions. They won’t just
finalize a deal for the customers but also notify them of a renewal of service.
Customer service: Travelers will have some queries regarding how to use the application
or raising a problem being faced. These things can be resolved in many ways. ‘Adding a read
more section’ on the application page is one good initiative to assist customers with their
different service-related queries. Travelers should find this helpful as there would be many things
explained in detail. Travelers will also be provided with an email address to send their queries in
mails. A toll-free number will also be provided to help travelers reach the company in case the
read more section and emails have not proved sufficient for them (Setiawan & Sayuti, 2017).
Distribution strategy
Travelers can access this service on their phones. The service will be made compatible
with the different operating platforms such as ‘iOS’ and ‘Android’. Travelers can download this
application from many app-based stores like ‘Google Play’ and others. ‘TripAR’ will tie-up with
the different operating platforms to be reachable to more travelers.

10BUSINESS PLAN
5. Products and services
TripAR will offer travelers a mobile application that can be used for real-time assistance
on transportation and restaurants, etc. The application can be used to search for hotels or
restaurants. It can also be used to know more about it like how is the infrastructure, sights of
rooms, the suburb areas, etc.
6. Marketing and sales
‘TripAR’ will do public relations and publish press releases to communicate the service
launch and the reason behind it. The purpose will be to give more elaboration on the service and
how is it going to help the travelers. Public relations will help interact with the media and thus
gain coverage possibly in newspapers. Such activities should give the business good publicity
(Kim, 2016). Besides, posted comments on the application page should be an added publicity for
the business. If the business can get as many positive reviews as possible it should help to
promote a positive brand image. Travelers while being able to see those comments and
appreciations should feel like using the app, which is indeed a gain for the business.
7. Operational plan
A robust operational plan should be in place to support this start-up concept and
accelerate its growth. Below is a brief mention of the operational plan that can be used to serve
the target customer:

11BUSINESS PLAN
 Services to be offered – Travelers will get real-time updates on transportation, road
congestion, etc. They can use these pieces of information to plan their visit accordingly
and avoid any possible barriers to a good journey. Hotels and restaurants will also be
located. It gets easier to locate or find hotels or restaurants in a given area. The 360° view
of the hotel should give travelers a superficial feel of the experience they will have in the
hotel.
 Direct customer support services – Direct customer support will be available through a
toll-free number as well as the dedicated email address. The service will be available
(24*7). Service delivery will be instantaneous on the toll-free number. However, the
response delivered through the email may take 7 working days.
 Team and sources – The sales and marketing team will take care of marketing activities.
A team of software developers will handle the app development activity. The finance
team will keep an account of the budgetary functions.
 Funding – The source of funding will be the investors and shareholders. TripAR will
focus on scaling the volume for investors to ensure that the flow of funding stays healthy.
8. Financials
(See Appendix 2)

12BUSINESS PLAN
References
Camilleri, M., Camilleri, M. A., & Acocella. (2018). Travel marketing, tourism economics and
the airline product. Springer International Publishing.
Fitzgerald, B., & Stol, K. J. (2017). Continuous software engineering: A roadmap and
agenda. Journal of Systems and Software, 123, 176-189.
Kim, C. M. (2016). Social media campaigns: Strategies for public relations and marketing.
Routledge.
Nayyar, A., Mahapatra, B., Le, D., & Suseendran, G. (2018). Virtual Reality (VR) & Augmented
Reality (AR) technologies for tourism and hospitality industry. International Journal of
Engineering & Technology, 7(2.21), 156-160.
Ramkumar, B., & Woo, H. (2018). Modeling consumers’ intention to use fashion and beauty
subscription-based online services (SOS). Fashion and Textiles, 5(1), 22.
Setiawan, H., & Sayuti, A. J. (2017). Effects of service quality, customer trust and corporate
image on customer satisfaction and loyalty: an assessment of travel agencies customer in
South Sumatra Indonesia. IOSR Journal of Business and Management, 19(5), 31-40.
Techinasia.com. (2020). Tech in Asia - Connecting Asia's startup ecosystem. Retrieved 20
February 2020, from https://www.techinasia.com/travel-startups-amadeus
Yu, X. (2017). The Significance and Role of Tour Guide Association in China—Under the
Background of Tourism Law. Journal of Service Science and Management, 10(02), 150.

13BUSINESS PLAN
Appendices
Appendix 1: Projection for sales revenue
Forecast
Start Date 3/1/2020
TripAR Sales Forecast
Year 1
Year 1
Units Sold Mar-
20 Apr-20 May
-20
Jun-
20
Jul-
20
Aug
-20
Sep
-20
Oct-
20
Nov
-20
Dec
-20
Jan-
21
Feb-
21
Total
Units
Sold
Real-time
feed 500 525 550 575 550 525 525 550 575 600 650 650 6775
360 view 150
0 1550 160
0
165
0
170
0
175
0
180
0
185
0
190
0
195
0
200
0
205
0 21300
Object
details 150 225 300 375 450 525 600 675 750 825 900 975 6750
Unit Price Avg Unit
Price
Real-time
feed
$4.9
9 $4.99 $4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9 $4.99
360 view $15.
99 $15.99 $15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99 $15.99
Object
details
$8.9
9 $8.99 $8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9 $8.99
Sales
Growth
Rate
Avg
Growth
Rate
Real-time
feed 0% 5% 5% 5% -4% -5% 0% 5% 5% 4% 8% 0% 2%
360 view 0% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 2% 3%
Object
details 0% 50% 33% 25% 20% 17% 14% 13% 11% 10% 9% 8% 19%
Revenue Total
Revenue
Real-time
feed
$2,4
95 $2,620 $2,7
45
$2,8
69
$2,7
45
$2,6
20
$2,6
20
$2,7
45
$2,8
69
$2,9
94
$3,2
44
$3,2
44 $33,807
360 view $23,
985 $24,785 $25,
584
$26,
384
$27,
183
$27,
983
$28,
782
$29,
582
$30,
381
$31,
181
$31,
980
$32,
780 $340,587
Object
details
$1,3
49 $2,023 $2,6
97
$3,3
71
$4,0
46
$4,7
20
$5,3
94
$6,0
68
$6,7
43
$7,4
17
$8,0
91
$8,7
65 $60,683
Total
Revenue
$27,
829 $29,427 $31,
026
$32,
624
$33,
973
$35,
322
$36,
796
$38,
394
$39,
993
$41,
591
$43,
315
$44,
788 $435,077

14BUSINESS PLAN
Sales
Forecast
Year 2
Year 2
Units Sold Mar-
21
Apr-
21
May
-21
Jun-
21
Jul-
21
Aug
-21
Sep
-21
Oct-
21
Nov
-21
Dec
-21
Jan-
22
Feb-
22
Total
Units
Sold
Real-time feed 625 600 575 550 575 600 600 625 650 675 700 725 7500
360 view 200
0
150
0
150
0
175
0
175
0
200
0
200
0
225
0
250
0
300
0
350
0
350
0 27250
Object details 300 250 300 350 400 450 500 400 400 350 350 325 4375
Unit Price Avg Unit
Price
Real-time feed $4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9 $4.99
360 view $15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99 $15.99
Object details $8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9 $8.99
Sales Growth Rate
Avg
Growth
Rate
Real-time feed -4% -4% -4% -4% 5% 4% 0% 4% 4% 4% 4% 4% 1%
360 view -
33%
-
25% 0% 17% 0% 14% 0% 13% 11% 20% 17% 0% 6%
Object details 0% -
17% 20% 17% 14% 13% 11% -
20% 0% -
13% 0% -7% 2%
Revenue Total
Revenue
Real-time feed $3,1
19
$2,9
94
$2,8
69
$2,7
45
$2,8
69
$2,9
94
$2,9
94
$3,1
19
$3,2
44
$3,3
68
$3,4
93
$3,6
18 $37,425
360 view $31,
980
$23,
985
$23,
985
$27,
983
$27,
983
$31,
980
$31,
980
$35,
978
$39,
975
$47,
970
$55,
965
$55,
965 $435,728
Object details $2,6
97
$2,2
48
$2,6
97
$3,1
47
$3,5
96
$4,0
46
$4,4
95
$3,5
96
$3,5
96
$3,1
47
$3,1
47
$2,9
22 $39,331
Total Revenue $37,
796
$29,
227
$29,
551
$33,
874
$34,
448
$39,
020
$39,
469
$42,
692
$46,
815
$54,
485
$62,
605
$62,
505 $512,484
Sales
Forecast
Year 3
Year 3
Units Sold Mar-
22
Apr-
22
May
-22
Jun-
22
Jul-
22
Aug
-22
Sep
-22
Oct-
22
Nov
-22
Dec
-22
Jan-
23
Feb-
23
Total
Units
Sold

15BUSINESS PLAN
Real-time feed 750 700 650 650 675 700 700 725 750 800 850 900 8850
360 view 300
0
200
0
200
0
225
0
225
0
250
0
250
0
275
0
300
0
350
0
400
0
400
0 33750
Object details 325 350 400 450 500 550 600 500 500 450 450 425 5500
Unit Price Avg Unit
Price
Real-time feed $4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9
$4.9
9 $4.99
360 view $15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99
$15.
99 $15.99
Object details $8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9
$8.9
9 $8.99
Sales Growth Rate
Avg
Growth
Rate
Real-time feed 3% -7% -7% 0% 4% 4% 0% 4% 3% 7% 6% 6% 2%
360 view -
14%
-
33% 0% 13% 0% 11% 0% 10% 9% 17% 14% 0% 4%
Object details 0% 8% 14% 13% 11% 10% 9% -
17% 0% -
10% 0% -6% 3%
Revenue Total
Revenue
Real-time feed $3,7
43
$3,4
93
$3,2
44
$3,2
44
$3,3
68
$3,4
93
$3,4
93
$3,6
18
$3,7
43
$3,9
92
$4,2
42
$4,4
91 $44,162
360 view $47,
970
$31,
980
$31,
980
$35,
978
$35,
978
$39,
975
$39,
975
$43,
973
$47,
970
$55,
965
$63,
960
$63,
960 $539,663
Object details $2,9
22
$3,1
47
$3,5
96
$4,0
46
$4,4
95
$4,9
45
$5,3
94
$4,4
95
$4,4
95
$4,0
46
$4,0
46
$3,8
21 $49,445
Total Revenue $54,
634
$38,
620
$38,
820
$43,
267
$43,
841
$48,
413
$48,
862
$52,
085
$56,
208
$64,
003
$72,
247
$72,
272 $633,269
Year-to-Year Comparison
Yr 2 vs Yr 1 Yr 3 vs Yr 2
Units Sold % Change % Change
Real-time feed 11% 18%
360 view 28% 24%
Object details 20% 26%
Unit Price Difference Difference
Real-time feed $0.00 $0.00
360 view $0.00 $0.00
Object details $0.00 $0.00
Sales Growth Rate Difference Difference
Real-time feed -1% 0%
360 view -2% -2%
Object details -6% 1%

16BUSINESS PLAN
Revenue Difference Difference
Real-time feed $3,618 $6,737
360 view $95,940 $103,935
Object details $6,518 $10,114
Total Revenue $106,076 $120,785
Appendix 2: Financials
TripAR
Business
Startup Costs
FUNDING
Estimat
ed
Actual Over/(Under)
Investor Funding {42}
Owner 1
$
9,000.00
$
9,300.00
$
300.00
Owner 2 $ $ $

17BUSINESS PLAN
4,000.00 5,200.00 1,200.00
Other
Total Investment
$
13,000.00
$
14,500.00
$
1,500.00
Loans
Bank Loan 1
$
5,000.00
$
5,000.00
$
-
Bank Loan 2
$
6,000.00
$
6,300.00
$
300.00
Non Bank Loan 1
Total Loans
$
11,000.00
$
11,300.00
$
300.00
Other Funding
Grant 1
$
500.00
$
500.00
$
-
Total Other Funding
$
500.00
$
500.00
$
-
Total FUNDING $
24,500.00
$
26,300.0
$

18BUSINESS PLAN
0 1,800.00
COSTS
Estima
ted
Actual Under/(Over)
Fixed Costs
Advertising for Opening
$
500.00
$
500.00
$
-
Basic Website
$
500.00
$
550.00
$
(50.00)
Brand Development
$
70.00
$
67.00
$
3.00
Building Down Payment
$
1,000.00
$
900.00
$
100.00
Business Entity
$
1,000.00
$
1,100.00
$
(100.00)
Business Licenses/Permits
$
300.00
$
350.00
$
(50.00)
Computer
Hardware/Software
$
800.00
$
700.00
$
100.00
Internet Setup Deposit
$
500.00
$
450.00
$
50.00

19BUSINESS PLAN
Machines & Equipment
$
700.00
$
650.00
$
50.00
Office Furniture/Fixtures
$
450.00
$
500.00
$
(50.00)
Operating Cash (Working
Capital)
$
10,000.00
$
10,000.00
$
-
Security System Installation
$
1,000.00
$
950.00
$
50.00
Setup, installation and
consulting fees
$
700.00
$
800.00
$
(100.00)
Tools & Supplies
$
900.00
$
900.00
$
-
Total Fixed Costs
$
18,420.00
$
18,417.00
$
3.00
Average Monthly
Costs
Advertising
$
66.00
Business Insurance
$
2,000.00
Employee Salaries and $

20BUSINESS PLAN
Commissions 12,000.00
Internet Connection
$
70.00
Miscellaneous Expenses
$
300.00
Owner Salary
$
1,000.00
Telephone
$
63.00
$
65.00
$
(2.00)
Website
Hosting/Maintenance
$
24.00
$
15.00
$
9.00
Total Average Monthly Costs
$
15,523.00
$
80.00
$
7.00
x Number of Months
$
6.00
Total Monthly Costs
$
93,138.00
$
480.00
$
42.00
Total COSTS
$
111,558.0
0
$
18,897.0
0
$
45.00

21BUSINESS PLAN
SURPLUS/
(DEFICIT)
$
(87,058.00
)
$
7,403.00
$
94,461.00