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:

BUSINESS PLAN1
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

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

BUSINESS PLAN3
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):

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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

BUSINESS PLAN5
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