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Florida Travelling Company
Student’s Name
Instructor
Course Code
Date Due
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Florida Travelling Company
Business Idea Summary
The Traveling Company, also called Florida, is an organization that intends to give clients a
distinct and personal travel experience. Also, contrary to established travel agencies, Florida
will provide specifically selected trips that cover the true spirit of the commune, less explored
places, and more tailored routes. Our main target clients are sophisticated travelers who are
different from mainstream tourists. We aim to change the experience of traveling into an
educational process, the essence of which refers to the value of exploring the cultural,
historical, and natural heritage of the world's countries. Given that our agency cooperates
only with reputable local specialists, we guarantee to our clients that they are offered to
discover the very spirit of each country and city, and, thus, our services provide them with an
opportunity to enjoy deep and memorable travel experiences which go far beyond any
touristic attractions.
Description of Your Product or Service
The Traveling Company's core business is more precise in terms of the removal of
tourists' individual or group travel and their implementation. Other offerings within this
package include a customized travel plan, VIP experience, and constant travel assistance to
most of the clients. Culture, adventure, wellness, and luxury – yes, many types of trips are
offered by the company with attractive promotions. These packages are equally well-
designed, taking into consideration the client's desires and expectations to have an
unforgettable experience. In addition to curated travel packages, Florida: Thus, Traveling
Company provides a great number of different services connected with traveling. These
services include, but are not limited to, arranging for a place to stay, finding transportation,
and planning what a traveler will do throughout their trip, with the idea being to eliminate as
much stress as possible for the traveler. Currently, the company has independent travel
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concierges who are always willing to attend to their clients when they are out on a trip by
assisting in solving any emergent issues that may be a hindrance to enjoyment, hence
providing their clients with an opportunity to travel with little or no worry.
While there may be countless conventional travel companies out there, the company
distinguishes itself by giving first-hand insight into the destination's culture to its clientele.
Thus, by partnering with local specialists and service providers, the company guarantees that
each trip is a collection of extraordinary and unique experiences and sights that can hardly be
a tourist trap, thus offering a remarkable and individualized approach.
Description of Your Market
Long-term cooperation with The Traveling Company's customers due to the provision
of highly individualized and constant attention will be the primary goal. Some of the
measures that set the company's style are based on pre-trip consultations to know the client's
requirements, having personal travel concierges at the time the customer is on the travel, and
post-travel assessment interviews to get feedback and guarantee customer satisfaction.
Moreover, there will be a policy conducted by Florida concerning the company's loyalty
program that would have special privileges and bonuses for customers who have already used
Florida's services and would like to reach out to the company for the second time or several
times. By maintaining a strong focus on customer satisfaction and engagement, the Traveling
Company aims to establish a long-term business partnership and, therefore, wants to achieve
a high percentage of customers preferring to use its services in the future (Pieroni et al.,
2019).
Customer Relations
The purpose of the Traveling Company is to establish long-term relationships with customers
through efficient and quality services and to involve them in the communication process
regularly. Their strategy involves the pre-travel assessment to identify clients' requirements,
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the travel concierge service to help clients during their journey, and the post-trip feedback to
discuss the trip and guarantee customer satisfaction. Additionally, this firm will ensure that
the Traveling Company develops a customer reward program that aims to offer incentives to
customers to demand the firm's service in future travel. It means that by striving for a one-on-
one basis with clients and keeping them in touch on a regular basis, the Traveling Company
aims at close, long-term relationships and high customer return rates.
Value Proposition
The Traveling Company's value proposition is thus the provision of extraordinary, closed-to-
normal-tourism experiences that aim to fulfill the demands of the distinct target consumer.
They claim to help you create truly unforgettable vacations that reflect the specific tastes of
their clients, giving the individual access to local attractions, experienced guides, and proper
organization of transportation (Serttaş et al., 2022). Their professionalism gives the clients
the guarantee that everything that is done in relation to the trip will be well done and the
experience will indeed be of a lifetime. Closely linked with these ideas, the Traveling
Company ensures the effective realization of the idea that each trip has to be not only fun but
meaningful and touching as well.
Goals
The Traveling Company's short-term objectives include determining whether the
company should offer exclusively tailored travel services within the initial year. They plan to
open for international services by the end of the second year and develop a massive clientele
with repetitive consumers (Fleming & Roberts, 2019).>Their vision in the short run, which is
within the next five years, is to be a well-known travel brand offering customized services
and delivering high-quality services with the ability to generate $10 million in sales per year.
Partners
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They will be the local-based travel agents, tour operators, airlines and hotels, and
restaurants who have the shared vision for quality and high-standard services like Florida.
They will also work with cultural organizations, guides, and experience suppliers to ensure
clients have captivating and unique experiences. Technology partners can also be relevant for
the development of the enlarged variety of their booking and customer management
platforms (Hamilton et al., 2021).
Key Resources
Florida's assets will consist of a professional group of travel professionals, trustworthy
local suppliers, and a strong technological system that processes orders and customer
contacts. They will also require talented marketing personnel to market their brands and help
in getting customers and capital for marketing, technology, and general operations.
Competitors
Florida's main threats will be other luxury travel agents and tour operators dealing in
similar tailored tourist services. However, their emphasis on quality, uniqueness, and the
sensibility of the destination will be their strength. Similarly, online traveling agencies (OTA)
and do-it-yourself traveling platforms can be seen as Indirect competitors. However, they
need specialized services combined with the outstanding unique selling proposition that
Florida will have (Langenwalter, 2020).
Revenue Model
It can operate as a travel agency and will earn from the trip planning and or execution
services offered, commissions from partners such as hotels, airlines, and tour operators, and
from customers through premium pricing whereby customers will pay huge amounts of
money to have their traveling experience as per their specifications. The company believes
that by positioning itself as a business that offers a reservation service that is different from
the competitors and by targeting the affluent traveler who is willing to spend to pay for the
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service they are offering, they will get good revenues (Perelygina et al., 2022). They will also
investigate other sources of income that could be developed out of membership-based
services and travel-related items.
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References
Czakon, W., & Czernek-Marszałek, K. (2021). Competitor perceptions in tourism
competition.>Journal of Travel Research,>60(2), 312-335.
Langenwalter, G. A. (2020).>Enterprise resources planning and beyond: integrating your
entire organization. CRC Press.
Fleming, R., & Roberts, S. H. (2019).>Sustainable design for the built environment.
Routledge.
Perelygina, M., Kucukusta, D., & Law, R. (2022). Digital business model configurations in
the travel industry.>Tourism Management,>88, 104408.
Pieroni, M. P., McAloone, T. C., & Pigosso, D. C. (2019). Business model innovation for
circular economy and sustainability: A review of approaches.>Journal of Cleaner
Production,>215, 198-216.
Serttaş, A., Sarıkaya, T., & Ünğan, E. (2022). Sustainability is a communication policy
created by the economic system.>Journal of Ekonomi,>4(2), 74-81.
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Testing the viability of your idea
The Market Place - Place a dot either in the yes, no, or do not know box.
Yes Do not
know
No
Does anyone want
it?
We know who they are
We do not know
Where are they?
We know who they are and
can reach them.
We do not know where they are or
how to reach them
Can you add any
value
Yes – A lot
No – not really
“Product” life cycle There is enough time to pay
back your investment
Not enough time
Market structure New & Chaotic Mature & established
Market Size
I have the numbers
I do not know
Market growth rate
Growing
Declining or shrinking
Gross Margins 40-50% durable 20% or less – declining
Cost Structure Low-cost Declining cost
The Numbers - Place a dot either in the likely, unlikely, or do not know box
Likely Do not
know
Unlikely
Profit after tax
10% +
Less than 5%
Time to breakeven
Under three years
More than three years
Time to positive Under two years No – not really
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cash
RIO potential X 15-20% Less than 10%
Capital
requirements Low
Very High
Exist mechanism Can be seen It cannot be seen
Value
High strategic value
Low strategic value
Your Competitive Advantage - Place a dot either in the likely, unlikely or do not know box.
Likely Do not
know
Unlikely
Are your prices
Competitive
Non-Competitive
Are your costs Competitive Non-Competitive
Is your route to
market
Competitive
Non-Competitive
Can you create
barriers for your
competitors
Yes
No
Legal/contractual/
IP
Yes
No
Do you know the
“right”
people/contacts?
Yes
No
Sustainability - Can you stay in the market? - Place a dot either in the likely, unlikely, or do
not know box
Likely Do not Unlikely
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know
Production costs
Lowest
Highest
Marketing costs Lowest Highest
Distribution costs
Lowest
Highest
The Team - Place a dot either in the likely, unlikely, or do not know box.
Likely Do not
know
Unlikely
The Team
Can do it
Have not done it
Fatal Flaw / Risk - Place a dot either in the likely, unlikely, or do not know box
Likely Do not
know
Unlikely
Is there a fatal
flaw?
No
Yes
How “risky” is
your idea?
Lowest
Highest
