Business Plan for Virtual Reality Tourism by Cosmos Tour Ltd

Postgraduate Business
plan for a hospitality
events or tourism related
business start-up

Table of Contents
INTRODUCTION...........................................................................................................................1
BUSINESS PLAN ..........................................................................................................................2
1. Where is Cosmos tour Ltd now?........................................................................................2
2.What is their product or service...........................................................................................3
3.What is their market............................................................................................................3
4.How will you reach the market...........................................................................................4
5.Who will they be competing against...................................................................................5
6.How will the product service be produced delivered..........................................................6
7.Who are the people..............................................................................................................6
8.What are the financial projections.......................................................................................7
9.How much money will they need........................................................................................7
10 What are the risks..............................................................................................................7
CONCLUSION ...............................................................................................................................8
REFERENCES ...............................................................................................................................9

INTRODUCTION
Business plan is basically a formal written document that contain information about the
goals and objectives of a business organisation along with strategies to achieve those goals. The
current business plan is based on new business start-up comprises of a new services start by a
tourism company. The current business plan is based on Cosmos tour ltd which is a independent
UK tour operate and provide a range of package Holidays for its customers across UK and other
parts of world (Alonso-Vazquez and et. al., 2018). The recent global pandemic of COVID-19 has
created a threat and many complexities for Cosmos tour Ltd thus, it become vital and important
for this company to come up with some new and more innovative products and services to cater
attention and attract larger number of customers.
The issues of Covid-19 has led to lockdowns and prohibition on travelling which has
created a setback for tourism industry therefore, they needs to come up with new start-ups and
business ideas that are based on innovation and new technology. Thus, in current business
scenario the Cosmos Tour Ltd is planning to coming up with a totally new and innovative
business start-up in tourism industry which comprises of virtual reality tourism. The current
business plan is based on launch of virtual reality tourism by Cosmos tour ltd that is said to be a
next frontier in the digital marketing and tourism industry.
The new services opened by Cosmos Tour Ltd comprises of Virtual reality (VR) which is
referred to a computer-generated simulation through the use of which a person can interact
within an artificial three-dimensional environment and tourist destination through making use of
an electronic devices, such as special goggles along with a screen or gloves fitted with sensors
(Fadda, 2020). Thus, this new start-up of Cosmos tour ltd comprises of use of new innovation
and technology to effectively capture the tourism destination in a most unique and immersive
way.
Mission
The mission of current business plan is, “To offer an improved way of tourism and
traveling for customers through making use of innovative and digital technology.”
Objective
The objective set out by Cosmos Tour Ltd for current business plan based on new start-
up of virtual reality tourism are stated as below:
To offer safe way of tourism and joyfulness during the time of Covid-19.

To attract and cater larger number of customers in order to improve its sales and profitability
level by 15% in next 8 months.
To ensure more effective and better use of innovative technology to offer unique tourism service
and unique experience for its customers.
Thus, the main focus and emphasis of current business plan is on mitigating the risk and
issues created by COVID-19 for tourism industry through sudden lock-down and closure of
travelling. Thus, coming up with virtual reality tourism would be a successful and profitable start
up for Cosmos Tours Ltd to have higher productivity level.
BUSINESS PLAN
Business plan is defined as business proposal which is a formal representation of
organisational goals and objectives and the methods through which these goals can be attained.
With the help of business plan within provided time frame goals of the business can be attained
and in this manner this would be easier for the business to deal with their new innovation and
place the same by dealing with appropriate product insights (Mishra and Gupta, 2020). Every
business in current time is dealing with such aspects through which they are able to attain
objectives of their business in such a manner that overall benefits can be attained. In the context
of Cosmos tour Ltd, business plan is elaborated as under:
1. Where is Cosmos tour Ltd now?
Cosmos tour Ltd is offering affordable tour services and holiday packages to their
customers. The company is highly focused over managing culture and languages in such a
manner that they can offer planned holidays to their customers. As the company is engaged in
providing prominent tours services so this is imperative that they organise their business
functions in such a manner that they can attract higher customers. In current time of COVID-19,
various demands are exerted by customers and this is the responsibility of organisation to meet
expectation level of their customers by providing innovative products or services. The company
has launched a service which is associated with VR and computer-generated simulation so that a
person that interact with tourist destination by dealing with three-dimensional environment
(Marasco, A and et. al., 2018). This is the start-up initiated by the company in which innovation
and high technology is being rendered.