Business Plan: Heritage Walk App for Foreign Tourists in Australia

This project outlines a business plan for a mobile app designed to enhance heritage walks for tourists in Sydney and Victoria, Australia. The app addresses the challenges of recruiting effective tour guides and the increasing trend of self-guided tours. It offers benefits such as accurate information in multiple languages, reducing reliance on potentially unreliable or costly tour guides. The plan details key resources like SaaS software, GPS integration, and language translation capabilities. Key partnerships with tour operators and the use of digital distribution channels are also discussed. A financial analysis, including projected cash flow for the first two years, demonstrates the app's potential profitability. The project concludes that leveraging technology in this way can significantly improve the tourism experience, particularly for non-native speakers. Desklib provides access to similar solved assignments and resources for students.

HERITAGE WALK SERVICES
FOR FOREIGN TOURISTS
WITH LANGUAGE SPECIFIC
MOBILE APP GUIDE IN
SYDNEY AND VICTORIA

Introduction
The business idea that had been determined is the idea of mobile app
that would aid the tourists in their heritage walk to the heritage places
and that the mobile app would detect the location of the tourist and
would deliver all the information in the language of the location. It would
also offer provision to the tourist to translate the information is its own
language. The business canvas model would be formulated keeping in
consideration the 9 key aspects of the model catering to different
aspects of the idea.

Problem Identification
 It has been found that in the recent times, the tour operator services
in the different states in Australia had been struggling to recruit
effective and well informed tourist guides for the heritage places. This
has led to issues in the tourism business as more tourists are
engaging in self guided tourism to the heritage places

Benefits
The innovative idea of providing heritage walk assisted by mobile
application has been determined for leveraging the technological
disruption across different industries. The first level benefit that would
be achieved with the use of mobile application in the tourism industry
would be accuracy in the tour guide operations. The tourists would be
able to take help from the mobile applications for gathering more
accurate information to the heritage placesin their own language and
not in the local language that would help in better understanding and
guidance

Effective demand
It has been seen that there has been rising demand for mobile based
application for aiding the tours and there are not many mobile based
application in Australia that are using the mobile app for navigation
process

Key Resources
The accurate system of the navigation and updated information that the
app would provide the value proposition and the SaaS software and GPS
and the mobile app would aid the value provided.Use of SaaS software
and language translation software for integrating information about the
heritage place with the mobile application and customized app for
displaying information on the heritage place and pop-ups & notifications
would be provided.

Key Partners
The key partners would be the tour operators that would use the mobile
based app in their tour operations and also the tour guides can use the
app for effective navigation

Distribution channels
Mobile based Digital Platform and IoT would be used and SaaS platform
would be used for providing App based information system
management.

Security from the harassment of the tour
guides
 The tourist would be able to self help in their tours and thus they
would not have to submit to the harassment of the tour guides and
this would also save their money and time. The tourists would also
not require the help of the tour guides or the help of the translators if
they use the app. This would enrich their tour experience also.

Cash flow
Year 1 Year 2
Operating activities
Net income $3,441,725 $3,509,160
Depreciation $108,750 $110,925
Accounts receivable ($900,000) $0
Inventories ($250,000) $0
Accounts payable $0 $0
Amortization 5,000 5,000
Other liabilities 10,000 10,000
Other operating cash flow items 0 0
Total operating activities $2,415,475 $3,635,085
Investing activities
Capital expenditures $0 $0
Acquisition of business 0 0
Sale of fixed assets ($1,475,025) ($1,503,926)
Other investing cash flow items 0 0
Total investing activities ($1,475,025) ($1,503,926)
Financing activities
Long-term debt/financing ($95,000) $0
Preferred stock 100,000 100,000
Total cash dividends paid 5,000 5,000
Common stock 0 0
Other financing cash flow items 0 0
Total financing activities $10,000 $105,000
Cumulative cash flow $950,450 $2,236,159
Beginning cash balance $500,000 $1,450,450
Ending cash balance $1,450,450 $3,686,609

Conclusion
It has also been seen that by leveraging the potential of technological
disruption, the tourism industry would be facilitated. Moreover, the
feasibility analysis suggests that the App would be a profitable idea in
the Australian market. The business idea would benefit the tourists that
are not familiar with the local language of the place that they visit and
would improve their tour experience. This business idea would also be
innovative as it would help to use the mobile based technology for
improving the tourism industry

References
 Plenter, F., Fielt, E., Hoffen, M., Chasin, F., &Rosemann, M. (2017).
Repainting the business model canvas for peer-to-peer sharing and
collaborative consumption. http://aisel.aisnet.org/ecis2017_rp/142/
 Toro-Jarrín, M. A., Ponce-Jaramillo, I. E., &Güemes-Castorena, D.
(2016). Methodology for the of building process integration of
Business Model Canvas and Technological Roadmap. Technological
Forecasting and Social Change, 110, 213-225.
http://daneshyari.com/article/preview/896342.pdf
 Yang, M., Evans, S., Vladimirova, D., & Rana, P. (2017). Value
uncaptured perspective for sustainable business model
innovation. Journal of Cleaner Production, 140, 1794-1804.
https://ore.exeter.ac.uk/repository/bitstream/handle/10871/26675/Yan
g%202017_Value%20uncaptured%20as%20new%20perspective%20f
or%20SBM_JCP.pdf?sequence=1