The Business Plan for a Travel Agency Location Suggestion: Toronto Ontario Canada The Business Plan includes: 1.
Question:
The Business Plan for a Travel Agency
Location Suggestion: Toronto Ontario Canada
The Business Plan includes:
1. A mission statement
◦ Why are you in business?
2. Objectives of your business should be S.M.A.R.T.
◦ Specific
◦ Measurable
◦ Attainable
◦ Relevant
◦ Time Measured
3. Organizational Structure
◦ Legal name, structure, owner(s), employees
4. Overview of Industry, Products and Services
◦ Size of industry, trends, future of industry
◦ Special features/what makes you different
5. Marketing Plan
◦ Competitors: who are they/strengths/weaknesses?
◦ How are you going to target them?
◦ Is there room for you?
6. Staffing
◦ Job description
◦ Banker, lawyer, accountant
7. Regulations & Appointments
◦ Licensing and permits
◦ TICO, IATA, CLIA, ACTA, etc.
8. Financial plan
◦ Identify key expenses: rent, renovations, equipment, furniture, insurance, supplies
9. Executive Summary
◦ Step done at the end, but the first thing people will see
◦ Enthusiastic, realistic and informative
◦ Introduces reader to you and your business
◦ Outlines the highlights of your biz plan and entices them to read more
◦ Details: business name, address, phone number, your name and contact, when open, etc..
Things to include in your business plan:
- An Executive Summary introducing your business to the potential investors or lending agencies. This should include a description of the type of agency that you are opening if you are focusing on a certain niche market.
- A description of your business location, with an accompanying paragraph explaining the rationale behind your choice
- Your decision regarding legal structure, with an accompanying paragraph explaining the rationale behind your choice.
- Detail how you plan to implement Principles 1, 2 and 3 of PIPEDA.
- A print advertisement of your business that complies with the Travel Industry Act. (TICO)
- A listing of the conferences that will be needed in order to operate a successful and profitable travel agency and how you plan to obtain accreditation.
- Any other information that you think may convince your investors/lenders that your business is going to be successful!
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay