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Essay / Research Paper Abstract
This 11 page paper sets out a business plan for setting up a new travel agency business in the UK. The plan includes company name and mission statement, strategy, considerations of the current competitive environments, including market trends and current major competitors. The paper then gives projection including a three-year cash flow statement and three year balance sheet statement. The bibliography cites 1 source.
Page Count:
11 pages (~225 words per page)
File: TS14_TEtravelagency.rtf
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Unformatted sample text from the term paper:
as well as the needs of the market and the ability of the potential proprietor to access and then satisfy that market. In this paper we will produce a business
plan for starting up a new business. The chosen business is to set up a travel agency, offering independent travel advice on a range of products including package holidays, airline
tickets and a range of other tickets and travel products. The company will be called Abacas Travel. The mission statement will be to ensure that all travellers have all
their travel needs meet an exceeded with careful, honest and personalised advice. There are many problems and opportunities entering this market. There are some barriers that will need to
be overcome, such as the registration requirements with the Association of British Travel agents (ABTA), without this there is no assurance of security to the travellers.
Other barriers are similar to other businesses, such as the gaining of customers and setting up of suppliers, finding and maintaining premises and the recruitment and
training of staff. One major barrier many be the high level of competition in this market, where 40% of the market is controlled by the top 4 travel agents (Euromonitor,
2004). However, there are many opportunities, it is becoming more socially desirable to travel, with long haul destination, such as the
US becoming more attractive. People are viewing a holiday as an essential rather than a luxury. There is an opportunity to offer a range of holidays to meet different budgets,
this can include the long haul holidays, specialising in an areas such as Florida, to attract a niche market, but still providing the mainstream services as well as offering tickets
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