Business Plan Assignment : Goin' My Way

Business Plan

Table of Contents
INTRODUCTION................................................................................................................................3
MAIN BODY.......................................................................................................................................3
TASK – Business Plan..........................................................................................................................3
1. Executive Summary................................................................................................................3
2. The business and its purpose...................................................................................................3
3. Products and services .............................................................................................................4
4. Market and competitors analysis.............................................................................................1
5. Sales and marketing plan........................................................................................................2
6. management plan....................................................................................................................4
7. Operations plan.......................................................................................................................6
8. Financial feasibility and plan..................................................................................................7
9. Timescale, risks and key issues.............................................................................................17
CONCLUSION..................................................................................................................................19
REFERENCES...................................................................................................................................20

INTRODUCTION
For starting any business operations, it is very much important to design a strong and
effective business plan in line with the aims and objectives behind conducting such business
operations. A business plan defines all the strategies and actions which are required to be followed
for achieving the set defined future business objective. The present report will define how business
plan can help any business firm in gaining large market share and competitive advantages as well.
Business plan for Goin' My Way, a German travel agency offering wide range of travel and tour
services will be made. Report will focus on business plan procedure and its crucial steps to be
followed. Also, emphasizes will be made on creativity and innovation which is necessary for
tourism and event sectors. Further, explanation related to key elements and resource requirements in
context of business development process will be enclosed. At last, description related to issues and
challenges faced by enterprises new started in the sector of tourism and event will be provided.
MAIN BODY
TASK – Business Plan
1. Executive Summary
This report will provide a brief explanation about business plan and its importance for travel
agency business firm named as Goin' My Way which is newly started in Germany. It will define that
how this travel company is offering its services to both the travellers and corporate person having
wide range of variety. The business plan made will include location and places at which Goin' My
Way is going to deliver its business services and products. It will streamline about all the essential
parts without will business plan can't be completed and made properly.
2. The business and its purpose
A business plan is prepared for a travel agency company named as Goin' My Way. It is a
travel agency firm which has been started with the aims of providing better improved and
innovative services and products in context of the travel and tourism sector. The main services
which it will deliver to the population includes activities, car rentals, package tours, hotel facilities,
etc. The head office of this company is in the city of Berlin. This travel agency will basically have
ten people as its employee. Furthermore, with the help of agency website as provided by it I.e.
www.goinmyway.com, customer can get in-depth information as per their requirements.
The main purpose of this travel agency is to provide customers with better designed
brochures, pamphlets and other promotional material so that they can understand different types of

services and products being offered. It will help customers in making choice among different
options available and takes advantages from utilizing it. It has been aimed at part of this travel
agency to provide customer of leisure as well as corporate nature all the enjoyable and quality tour
and travel services in effective budget amount and time frame (Kerzner, 2017). Also, it wants to
develop large customer base with highly enthusiastic and satisfied customer. In the coming long
term period, it wants to get establish itself as best and affordable travel agency in the market having
large market share, profitability aspects and growth as well.
3. Products and services
Goin' My Way always intends to provide its services to both the individual and group travel
to its leisure clients. It ensures to offer wide variety of services and products as other travel and
tourist industry deals with in the different parts of Germany. This travel agency also ensures
arranging hotel for its consumers in Berlin so that corporate travellers can hold their meetings and
presentations (Lauf, Haase and Kleinschmit, 2016). The travel agency will also focus on providing
some innovative, creative, unique and special service to its client customer for making them highly
satisfied. Goin' My Way travel agency is going to organize a tour program named as 'Nature Guided
Tour' for the consumers for enjoyment and relaxant. The agency will also aim to provide adventure
vacations in Germany. Our business offering are listed below;
 Travel and tour consulting as well as advisory services for both the corporate and individual
clients, customers and other business groups.
 It also offers facility for making booking for flight ticket.
 Facility fir booking taxi, cabs or buses etc.
 Rental care services and Cruise line booking
 Hotel booking
Services and products provided by Goin' My Way at the initial level are pre arranged tours
packages, customized packages according to clients specifications, travel consultation and other
related services.

4. Market and competitors analysis
Market Analysis
In Germany travel and tourism industry is coming in ninth position in the world. 68.83
million people are visiting Germany from different parts of country. Majority of visitors that are
coming is in 2009. 30% of German people are spending their holidays there only. It is considered
to be safest travel place for visitors in coming year. There are three reasons that people came to
Germany are because of its culture , activities and the cities that are included in Germany. Here,
it is employing 2.9 million person under travel and tourism industry. It is also coming in 17 th
rank according to GDP rate of the country (Chambers and Humble, 2017).
Market Targeting
Goin' My Way Travel Company will try to target all the kinds of customers from the
corporate world (who travel for the purpose of attending meetings and conferences etc.) and
normal customers (who travel for the purpose of entertaining or refreshment) etc. (Burns and
Dewhurst, 2016). Their target group will be focus on the customers who is between the age of 20
to 40 years old people and the older people who want to travel anywhere. The agency will
provide more relaxing products and services to their all the types of the customers in the country
such as; wellness and ecological trip. But their more focus will be on the high income consumers
and corporate clients. Following list will show that the company will specifically target these
types of customers which are as follows -
1. Couples (married and unmarried)
2. Customers who prefer solo trip
3. Young adults
4. Corporate organisations
5. Families/Households
6. Universities / Colleges and Schools
Competitors Analysis
There are various successful travel agencies working under the Travel and
Tourism market of Germany and these companies are growing more and more with the help of
coming up with innovative ideas and strategies (Chambers and Humble, 2017). There are three
biggest competitors of Goin' My Way Travel Company which are such as - G adventure
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Company, Intrepid travel Company and Topdeck travel Company. G adventure is the strongest
competitor of the company in the Germany market because it has strong customers base,
enhanced goodwill in the market and experienced along with expertise management team.
However, due to only focusing on small group adventure travel in the industry of Germany
market, there are high chances for the Goin' My Way Travel Company to gain competitive
advantages over its tough competitors.
5. Sales and marketing plan
Sales Strategies
Sales strategy refers to the approach which helps company to do sales of their products
and services effectively and enhance the sales volume of the company (McKeever, 2016). There
are various sales strategies which will be used by the Goin' My Way company which help the
company to achieve its sales targets and enhance its revenue. These sales strategies are such as –
Company will set the specific goals for the sales volume for the employees to achieve them.
Company will analysis the past sales budgets and sales targets in order to evaluate the efficiency
of the current sales budget and target. Company can use research and development methods to
increase their sales volume by analyzing the markets, needs of the customers and sales strategies
of another companies.
Marketing Mix
Marketing Mix of the Goin' My Way
Elements of Marketing Mix Details of the Elements in the context of Company
Product / Service Following products and services will be provided by
company -
1. Travel and tour consulting and advisory
services for corporate and individual clients
2. booking for flight ticket
3. Booking for taxi cabs/shuttle buses
4. Rental care services and Cruise line booking
5. Hotel booking
Price Company will use competitive pricing strategy for
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