Business plan: Personal traveller - tourism in China

Molinari G.

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Business plan: Personal traveller - tourism in China

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Lecture
Résumé
Sommaire
Extraits

Résumé du document

Personal Traveler is a travel related service company which links with travel agencies in leading European markets in forming a customized package to fit the need of “third-age” foreign travelers in main Chinese cities. The venture will leverage on the sharp increase in tourism expected for the upcoming Beijing 2008 Summer Olympic Games. Since the Opening of China in 1979, the restrictions on incoming tourists have been lifted progressively. Moreover, we believe that with the additional investments by the governments of China and Hong Kong in infrastructure, and the increasing outward communication with the world, a base for substantial and continuous growth in the tourism industry has been created that will aid in the take-off of our business idea. Our Mission Statement reads "We at Personal Traveler Limited will provide a tailored and trustworthy business-to-business travel related service to pensioners in leading European markets to ensure the most uncomplicated Chinese tourist experience." Our niche customers – upper-middle class European pensioners – have specific needs which go far and beyond those of the regular traveler. Whilst the opening of China has been swift, the gap with respect to leading developed countries is still wide

Sommaire

Executive summary.
The product.
Current problems.
1. Language of tour guides.
2. General language ability in China and cultural misunderstandings.
3. Road signs.
Mission statement.
1. The product.
Tourism industry in Beijing, China.
1. Visitor arrivals.
2. Spending.
3. Visa.
4. Transportation.
5. Hotels.
6. Infrastructure for the disabled.
7. Disorder in tourism market.
Tourism Industry in Hong Kong.
1. Visitor arrivals.
2. Hotel occupancy.
3. Barrier-free travel.
Market and customers.
1. Target market.
Marketing.
1. Our business partner.
2. Package details.
3. Promotional Strategies.
4. Competitive analysis.
5. Our competitive advantages.
6. Future competitors and barriers of entry.
Financial.
1. Funds required.
2. Income statement.
3. Cash flow budget.
4. Breakeven analysis.
People and management.
1. Background - education, professional, skills.
2. Other people - Key services and resources.
3. Training, appraisal, commitment, compensation structure, motivation.
4. When people are available.
Risks.
1. Outdated impression of China.
2. Easy duplication of operating model
3. Potential political risk.
Rewards.
Exit options.
Appendix.

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Extraits

[...] In 2005, there were 52,170 Italian visitors who traveled to Beijing[5]. This positive trend will even accelerate in the next one-year and a half as the Olympic Games approaches. Spending[6] Foreign tourists traveling in China concentrate their spending mainly in long distance transportation, amounting for 2005 at around US$ 8.3 billion of the total expenditures, accommodation, for an amount of US$ 3.775 billion of the total, and shopping, constituting of the expenditures, amounting at US$ 6.378 billion. Other activities such as sightseeing, food and beverages, and entertainment account for a relatively smaller amount. [...]

[...] This will take another 2 weeks. Then we can start to serve our customers. The whole process will take about two and a half months to complete. Risks Though being optimistic about our market potential, regarding the high growth in the tourism industry in China and huge population in our target market, there are still risks for our business model. Outdated impression of China The pensioners are born in the 1940s during the Second World War. Due to the long geographic distance and little exposure to the current Chinese environment through internet and other media, their impression of China may stay the same as in the period under Mao's leadership. [...]

[...] Those signs confuse tourists who are not knowledgeable of the Chinese language. Country Development Although China has clearly made huge improvements these recent years, there are still certain obstacles for foreign travellers to travel comfortably around China's cities. These problems include the safety of the food, the general level of cleanliness, the efficiency of the transport system, and the attitude of local people towards foreigners. Most travellers can overcome such obstacles, but we do believe that “third-age” travellers, in other words, pensioners, would not be able to fully enjoy their experience in China, without the necessary support to ensure them the most uncomplicated travel experience. [...]

[...] In addition, we would ensure that the books are accurate by contacting a CPA firm and performing an audit of last year's financial statements. A professional valuation of the business would be done to ensure a fair and objective evaluation of the business. Appendix A Appendix B Cash flow budget by months Pessi- Expe- Opti- Pessi- Expe- Opti- Pessi- Expe- Opti mistic cted mistic mistic cted mistic (Income): Sales & "Beijing's New Tourism Chief Spells Out Vision." Beijing Tourism Administration Sept China Daily . "Tourism Talent in Great Demand." Beijing Tourism Administr瑡潩⹮ㄠ‱灁⹲㈠〰⸶䌠楨慮䐠楡祬‮‼–奈䕐䱒义⁋栢瑴㩰⼯湥汧獩⹨橢慴朮癯挮⽮a tion Apr China Daily. . [...]

[...] After graduating from university, she also plans to study and take CFA examinations to become a certified accountant. Joann is a very observant and detailed-oriented person. She is extremely talented in selecting team players and friends, and with this significant character, she is able to identify good employees for the company. Besides, she is a member of the Hong Kong Management Association, and through this organization, she is able to receive great information flow and extend her network. Having spent over ten years of Collette's adolescence in Canada, she is fluent in English and proficient in French. [...]

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