Business Plan Project: Goin' My Way Travel Agency, Berlin, Germany

This business plan outlines the strategy for 'Goin' My Way,' a travel agency based in Berlin, Germany. The plan details the agency's location, services (including tours, rentals, and bookings), and target market (corporates, couples, families). It includes a sales and marketing plan emphasizing competitive pricing and online/offline presence, and analyzes key competitors. The management plan describes the agency's organizational structure, and the financial plan provides investment details and projected revenue. The plan forecasts sales for the first three years, concluding with a discussion of the agency's potential in the German travel market and references for further research. The agency aims to provide a range of travel and tourism services for various consumer segments.

BUSINESS PLAN

Table of Contents
Goin' My Way..................................................................................................................................1
INTRODUCTION...........................................................................................................................1
Location.......................................................................................................................................1
About business............................................................................................................................1
Products And Services................................................................................................................1
Target Market..............................................................................................................................2
Sales And Marketing Plan...........................................................................................................2
Competitors.................................................................................................................................2
Management Plan........................................................................................................................3
Financial Plan..............................................................................................................................3
Forecast.......................................................................................................................................4
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

Goin' My Way
INTRODUCTION
The study contains business plan for travel agency named as Goin' My Way, Germany
based company that offer wide range of tour and travel services to the travellers and corporate
person. The plan will include selected location in Germany and products and services that will
provide by the agency. The business plan also provide an understanding of the marketing and
sales plan, financial and management plan for the new business.
Location
The selected location for the Travel agency is Berlin that is the capital and largest city of
Germany (Dhiman and Kumar, 2019). The population of the city is around 3,748,150. Berlin is
great place for tourists as the city has oceanic climate. There are many places to visit such as;
Mitte, Charlottenburg Palace, Bade Museum, etc.
About business
Goin' My Way is a travel agency that aims to provide travel and tourism related services
to the population that includes; various activities, car rentals, package tours, hotel facilities, etc.
The head office will also be in Berlin. The agency will consist ten people. For providing in-depth
information people can visit agency's website: www.goinmyway.com
Products And Services
Goin' My Way is going to offer variety of services within the scope of travel and tourist
industry in Germany (Lauf, Haase and Kleinschmit, 2016). Task of the agency is to fitting hotel
for the consumers in Berlin, where corporate travellers can hold meetings and presentations,
tourist can reach to the famous places nearby. The travel agency will also provide some unique
and special service to the client. Goin' My Way travel agency is going to organise Nature Guided
Tour for the consumers. The agency will also aim to provide adventure vacations in Germany.
Our business offering are listed below;
 Travel and tour consulting and advisory services for corporate and individual clients
 booking for flight ticket
 Booking for taxi cabs/shuttle buses
 Rental care services and Cruise line booking
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 Hotel booking
Target Market
The travel agency aims to attract all type of consumers from corporate world, adventure
trip seeking consumers, etc. the group of people include by the agency is 20 to 40 years old
people and for the older people, agency aims to provide more relaxing activities in the city such
as; wellness and ecological trip (McKeever, 2016). Although a travel agency might decide to
focused on high income consumers and another only on corporate clients. Below is the list of
consumers that are specifically suitable for the products and services;
 Couple/Young adults
 Corporate organisations
 Families/Households
 Schools
Sales And Marketing Plan
We are mindful of the elements and competitors amongst travel agencies in Germany,
hence we have been able to hire some of the best business developer that able to handle sales and
marketing. The agency have innovating services on the budgeted package offers that influence
the consumer's mind. The marketing plan of Goin' My Way Travel Group focused on
competitive pricing strategy. Additionally, excellent selling skills are vital in the business.
Therefore, requirement of the business is fully trained people in sales. To monitor the
promotional strategies, business will use contact management. The sales strategy of Goin' My
Way Travel Group also focuses on developing strategic sales and promotional alliances
(Reichert, Holz-Rau and Scheiner, 2016). In the marketing mix; the business is focus on
providing wide range of products and services on an average price range that follow competitive
pricing strategy. Consumer will able to book their services through online and offline store. The
marketing strategy includes; TV ads, social media marketing, magazines, etc.
Competitors
There are many successful travel agencies in Germany. Three major competitor of Goin'
My Way Travel Group are; Topdeck travel, G adventure and Interpid travel. G adventure is the
strongest competitor of the travel agency due to its strong client base and experience owner.
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However, the industry only focuses on small group adventure travel that provide an competitive
advantage to Goin' My Way Travel Group.
Management Plan
Goin' My Way Travel Group will start out as a Germany based travel agency.
Management plan allows serving the purpose of formalising the process and policy that are
crucial to the agency. The organisation will structured in top-down structure that includes less
flexibility to the staff and decisions will be made by the head of agency. There are various
department will organise in the agency that manage the functions and operations; sales, Finance,
marketing, Head department, organisation and service, HR, Travel and tour consultant (Dhiman
and Kumar, 2019).
Financial Plan
The estimated capital will invest in the agency is around €36,990.50 own money in the
business and seeking €73,968.89 from outside sources. Brief breakdown for the required funds
are; working capital, opening supplies, sales and marketing budget, necessary resources,
miscellaneous and unforeseen costs.
Key financial indicators
Above is the financial indicator for the first three years for Goin' My Way Travel Group.
Agency's growth is expected in sales and a proportional increase in operating expenses during
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expansion. Furthermore, underlying assumptions is that Goin' My Way Travel Group will have
an annual revenue growth rate of 15% per year.
Forecast
One thing is certain in the business that there would always be families, individuals and
corporate people that would travel on daily basis with UK and to other parts of world (Lauf,
Haase and Kleinschmit, 2016). The business is able to critically examine the market of tour and
travel and come to the summarisation of the sales forecast for the first three years;
 First year- €132796.25
 Second year- €309925
 Third year- €664125
The present business plan can assure that all the strategic analysis is done with in-depth
understanding of the market and the travel agency in Germany. Operating as per the plan will
enable company to get the forecast sale in the coming three years.
CONCLUSION
As analysing the business plan for Goin' My Way Travel Group it can be summarised
that Berlin, Germany could be a tough competition for the new travel agency but with the
planned marketing strategy, agency have capabilities to attract consumers towards the new
agency. Along with the own capital investment, the business plan required funds from other
sources such as investors to execute effectively.
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REFERENCES
Books and Journals
Dhiman, M. C. and Kumar, R. B., 2019. Building Foundations for Understanding the
International Travel Agency and Tour Operation. In Handbook of Research on
International Travel Agency and Tour Operation Management. (pp. 1-13). IGI Global.
Lauf, S., Haase, D. and Kleinschmit, B., 2016. The effects of growth, shrinkage, population
aging and preference shifts on urban development—A spatial scenario analysis of Berlin,
Germany. Land Use Policy. 52. pp.240-254.
McKeever, M., 2016. How to write a business plan. Nolo.
Reichert, A., Holz-Rau, C. and Scheiner, J., 2016. GHG emissions in daily travel and long-
distance travel in Germany–Social and spatial correlates. Transportation Research Part
D: Transport and Environment. 49. pp.25-43.
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