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Travel & Tourism Business Plan

Original price was: ₦30,000.00.Current price is: ₦20,000.00.

2.   Product/services

PTI is a full-service agency and sells standard travel agency goods and services, including airfare and travel packages.

 Additional services include:

  • Travels and Tours consulting and advisory services for individuals and corporate clients
  • Selling of traveling related insurance policy cover, the sale of travel guidebooks and through the sale of foreign currencies.
  • Booking for flight tickets
  • Assistance with passports
  • Providing access to top-of-the-line equipment and supplies, and a superior offering that includes access to better than average terrain and activities, accommodations, and entertainment.

The value added of PTI’s offering is its:

  • knowledge and expertise
  • Competitive rates, and
  • Specialty focus on adventure travel, which translates into increased satisfaction for the customer.

3.     COMPETITIVE ADVANTAGE

Patilad travel international competitive edge is first establishing a business based on long-standing relationships with satisfied customers. The longer the relationship stands, the more we help our customers understand what we offer them and why they should both frequent PTI and refer it to others. We will build a list of our well-satisfied customers who would naturally use word-of-mouth advertising for the promotion of this business

 The 2 other factors in our competitive edge are:

  • Location: We will be located in the city center, Wuse 2, Danjuma Bus-Stop (at the back of the City mall) Every taxi knows this place.

Excellent World Class Service: our services will be differentiated from other travel agents centers by the value it offers in quality. Client follow-through will be impeccable.  This competitive edge leverages the same proven factors that indicated higher success rates for a travel agency

  Customer Engagement

Our company seeks to establish a competitive edge in its new target market segments by increasing the level of customer contact and service that other competitors seem to oftentimes lack.

 Highly Skilled Workforce

PATILAD will possess the necessary skills to produce the high quality work that is needed in this field. The business ethics of PATILAD will ensure a greater service and will strengthen the customer contacts that promote word of mouth marketing and networking.

Other competitive advantages are:

  1. Well-trained and qualified staffs
  2. Excellent business ethics
  3. Our prices are very affordable with juicy discounts

The benefits of our services are

  • Quality and world class service
  • Affordable pricing models
  • Knowledgeable and qualified staff management
  • 24/7 online customer service

 

  1. Market Research

A common trend in the travels and tours industry is that in recent time, with the advent of the internet and the general public accessing the Internet, many airline companies have started selling their tickets directly to their target market via their online portal.

So also, it is now easier for other business in the value chain of travels and tours industry to now directly sell their services via their online portal to their target market. Service providers such as airline companies, car rentals companies, cruise lines companies, hotels, railways, tourist sites managers and perhaps interpreters and security agencies et al. which is why you can’t find any airline company paying commissions to travel agents on each ticket they sold.

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Table of content

Page
Executive Summary3
Introduction4
Business Description
9
Products and services
9
Competitive Advantage12
Market Research15
Sales and Marketing Plan16
Operation Plan17
Business Risk20
Management and Structure21

Executive Summary

PATILAD Travel International (PTI) will begin operations this year and provide adventure and travel packages to Nigerians. An opportunity for success exists because the national travel industry is growing at 4%, and adventure travel at 10% annually.

PTI is researching the market to identify potential opportunities for future sales in this rapidly changing environment. PTI’s long-term goal is to establish itself as an internationally recognized provider of top-of-the-line adventure travel. This goal does not prohibit PTI from participating in additional segments. It does, however, provide a corporate focus and a differentiated offering.  

PTI has established relationships with providers of travel-related products and services. Two major airlines have been selected as our primary ticket providers in part because they do not cap the agent’s profit on tickets. This allows us to capture the 10% margin on ticket sales that was for many years the industry standard. Market research has enabled us to identify and establish working relationships with service providers around the world. PTI has been able to identify opportunities to capture margins of up to 25% from certain parties. Sourcing will be continuously evaluated.

 PTI will take advantage of trade shows, travel industry publications, and other sources of industry-related information to monitor the quality of its offering.

PTI will start as a small organization and its employees will share in management duties and decision making. It will be important for each member of the team to be capable in all aspects of the business. Prerequisites for all PTI employees include at least five years travel industry experience, knowledge, and ability in the types of activities PTI will promote.

Prices will be competitive with the remainder of the market. The company’s estimated sales for the first year of operations are approximately ₦13,000,000 increasing 10% annually for the next two years.

PTI will begin operations with four full-time positions. The positions are as follows; general manager and president, marketing and advertising director, accountant, and one travel agent.

The company does not expect any problems with expenses or cash flow within the next three years. Annual cash flow for the first year of operation becomes positive in the second quarter of operation.

1.    Introduction

It is a fact that the travels and tourism industry is not all about tourists but also about all those who travel from one country to another, from one city to another for various purposes and with the help of travel agencies.

The line of business (travel agency) is flexible and open to both big-time investors who have the financial capacity to invest in the travel and tourism industry and also aspiring entrepreneurs who just want to make a living but don’t have started – capital. As a matter of fact, entrepreneurs can start out as freelance travel agents if they are diligent enough, they can build a big and well-organized traveling agency.

 

Simply put, travel agencies render services that cover all aspect of traveling. Our job is to help our clients in securing visas (especially transit visas), purchase flight tickets, book hotels, book taxi cabs and bus shuttle services and of course make arrangement for site seeing amongst other services.

 

We work in conjunction with service providers such as airline companies, car rentals companies, cruise lines companies, hotels, railways, tourist sites managers and perhaps interpreters and security agencies.

  1. Business Description

PTI is a full-service travel agency that specializes in adventure travel and provides recreational and business travelers with professional service and consultation. PTI will position itself as a specialist in the field of adventure travel and will generate the majority of its income from this segment.

PTI’s total start-up capital requirement is approximately ₦4,000,000. Start-up will be financed through the owner’s personal investment and a long-term loan secured from a commercial Bank. Start-up details are:

  • EXPENSES: These will be rent, office supplies, consultant’s fees, insurance, utilities, computers and internet access etc.
  •  ASSETS: Primarily cash and computers.
  • INVESTMENT: The bulk of the investment will come from a loan and from the personal savings of the owner.
  • LOANS: A ₦2,000,000 loan has been secured from Woodville First National Bank.

PTI is a sole proprietorship owned and operated by Dayo Adetiloye in Lagos, Nigeria. PTI’s owner is researching the possibility of establishing PTI as a Limited Liability Company (LLC) or Partnership (LLP). This may occur within eighteen months of operation.

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