Business plan: Personal traveller - tourism in China

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Business plan: Personal traveller - tourism in China

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Abstract

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

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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Extract

[...] However, as the cooperation between China and Italy would be closer in the future, there would be more business cooperation undoubtedly[12][13]. This can certainly stimulate more competitors in the tourism industry. Our competitive edge is 24-hours on call and customer- oriented services. These intangible assets are the barriers to protect our business. Financial Funds Required By selling our service directly to a travel operator in Europe (Italy to begin with), we incur less costs than if we were to provide the support activities to the value chain. [...]

[...] Professor Kevin Yuk- Fai Au, Associate in the department of Management, is a member of the management board of Assessment and Training Centre of CUHK, and can guide us on the best practice in hiring our Personal Travelers from China's professional tourism colleges and universities. Furthermore, to provide the strongest link possible between Italy and Hong Kong, we have enlisted the support of the General Consulate of Italy to Hong Kong, Gabriella Meneghello, to act as the guarantee and give us legitimacy as a multi- national service company. [...]

[...] There are also competitors operating in China providing guides to European through online registration. Competitors in Italy The two main travel companies providing a broad offering of travel packages to China are Francorosso and Chinasia. Below are brief analyses of why we believe we are able to differentiate ourselves from them. Francorosso Francorosso does not have in its tour offering to China, a package consisting of only Hong Kong, nor one of only Beijing, nor one combining the two cities in one offering. [...]

[...] Tourism Industry in Beijing, China Visitor Arrivals[3] The number of visitor arrivals in China in 2005 reached 120 million, showing an increase of when compared with 109 million in 2004. The number of foreign visitors alone is expected to increase to 64 million in 2010[4]. Such a high growth indicates that there is a large market of tourists interested in visiting China, which also implied that there is a very good opportunity for our business to grow. Relating back to our initial targeting markets, there were visitors aged 65 or above from Italy in 2005. [...]

[...] A report indicating from Confindustria Italiana (Italian Businesses Association) of Italian companies doing business in China fail, and that their failure is mainly due to the unfamiliarity of the China market. Potential Political Risk The political environment is always not very stable in China for the past years. The potential political risk may affect our operation of business especially when there are changes of Sino-Italian relationship politically. If there are any political events and processes, there are also risks that Beijing may be considered to be for tourists to go. [...]

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