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[Jennifer vu huong]Zen travel business plan

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[Jennifer vu huong]Zen travel business plan

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It is a complete business plan for my idea to set up a new travel company in Vietnam. It is the one of steps to set up an international company in Vietnam.
_2014_
"The most powerful force for change in the world is a new idea in the hands of a leading social entrepreneur"_Ashoka

It is a complete business plan for my idea to set up a new travel company in Vietnam. It is the one of steps to set up an international company in Vietnam.
_2014_
"The most powerful force for change in the world is a new idea in the hands of a leading social entrepreneur"_Ashoka

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[Jennifer vu huong]Zen travel business plan

  1. 1. Logo PRESENTER: JENNIFER VU HUONG (HUONGVUVU.HU@GMAIL.COM) 1 BUSINESS INNOVATION AND TECHNOLOGY MANAGEMENT ZEN TRAVEL - BUSINESS PLAN
  2. 2. Business plan - Zen travel 2 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000 2009 2010 2011 2012 2013 Number of visitors The number of international visitors in Vietnam from 2009 to 2013 (Data Source: Ministry of Culture, Sport & Tourism) Increase significantly
  3. 3. Company overview Business plan - Zen travel 3 ZEN TRAVEL Size 20 employees 12,400 USD Location Hanoi, Vietnam Ownership Private Ltd company Zen and Paul Ocean Park Building, Dao Duy Anh street, Dong Da District, Hanoi
  4. 4. External analysis2 1 Mission, vision, goals 3 Internal analysis 6 Evaluation and control system CONTENTS 5 Action plan / Business Model 4 SWOT Business plan - Zen travel 4
  5. 5. External analysis2 1 Mission, vision, goal 3 Internal analysis 6 Evaluation and control system CONTENTS 5 Action plan / Business Model 4 SWOT Business plan - Zen travel 5
  6. 6. Mission, vision, goal 6 Be the leading travel and related services company of choice, providing reliable multi-services and innovative options to all customers To be become the best travel company in Southeast Asia in 3 years (2017) To be true to the saying: ’Better services/price than the best services/price
  7. 7. External analysis2 1 Mission, vision, goals CONTENTS Business plan - Zen travel 7 Macro environment - PESTEL2.1 Microenvironment - 5-Forces, KSF2.2
  8. 8. PESTEL Analysis  High political stability (total stability index of 4.3 in 2010)  Government encourage and highly support investing to tourism (Money investment and advertisement support)  Not high tax , plan to reduce tax  Member of ASEAN, APEC and WTO that opens more business opportunities  Advantages:  Attractive emerging market  Market oriented economy is developed quickly  High spending power on tourism  Low interest rates  Disadvantages:  Echange rate fluctuations increased  Low disposal income  Low currency exchange rate  High inflation rates  High competitive  Population: big volume, high growth rate  Social mobility: Standard of living increases, tourism become demanded  Education: low level of foreign languages  Human resource: abundent cheap labor fources  Traffic: bad conditions and several problems related to quality, safety, and at prices, traffic jam and water-flood  Acceptance of new unwellknown center  Cutural diversity between different regions  Rapidly developing country in technology  Many expressways and local transport network are built and usually upgraded  Increase quality reduce costs of communication via Internet and  Blessed by the nature, with a great ecological and hydrological diversity  Low awareness of citizens about environmental health  High environmental pollution  Possible to be seriously affected by climate change  Open-door policy  Legal system is improved to create a favorable environment for the development of a multi-sector market economy as well as a more open and stable investment environment 31 national parks 7 World Heritages 8 world zones 21 national tourist areas 3,260 kilometers Coastline
  9. 9. The spectrum of industry structures Business plan - Zen travel 9 Perfect competition Oligopoly Duopoly Monopoly Concentration Entry and exit barriers Product differentiation Information
  10. 10. SUBSTITUTE COMPETITION: LOW • Tourism demand is forecasted to grow BUYER POWER: MEDIUM • Buyers’ price sensitivity: MEDIUM • Relative bargaining Power: MEDIUM SUPPLIER POWER: MEDIUM • Buyers’ price sensitivity : MEDIUM • Relative bargaining Power : MEDIUM Intra-Industry Rivalry: MEDIUM • Concentration: LOW • Diversity of competitors: HIGH • Product differentiation: HIGH •Excess capacity & exit barriers: NO BARRIERS THREAT OF ENTRY: MEDIUM •Capital requirements: MEDIUM •Economies of scale: MEDIUM •Absolute cost advantage: HIGH •Product differentiation: HIGH •Access to distribution Channels: EASY •Legal/ regulatory barriers: MEDIUM •Retaliation: MEDIUM Business plan - Zen travel 10 5-Forces analysis Complements: JESTAR AIRLINE SOUVERNIR RESTAURANT SHOPPING ATTRACTIVE MARKET HIGH INTENSE RIVALRY > CRITICAL TO ESTABLISH A SUSTAINABLE COMPETITIVE ADVANTAGE
  11. 11. Key Success Factor Business plan - Zen travel 11 KSF What do customers want? How does the firm survive competition?
  12. 12. Key Success Factor  Differentiation and low costs  Excellence in fulfilling the promise, timely response  Solid and fruitful strategic alliances  Training and development system  Marketing know-how (marketing communication) Business plan - Zen travel 12 (For the next three years) - Focus on building a profitable and sustainable business platform - Establish a market presence that assures short-term and long-term profitability, growth and success in Vietnam then, Southeast Asia - Be committed to supporting growth and development in the tourism, overall economy and the environment of Vietnam
  13. 13. External analysis2 1 Mission, vision, goals CONTENTS Business plan - Zen travel 13 Value chain analysis3.1 Resources and capabilities3.2 3 Internal analysis
  14. 14. Value chain analysis Business plan - Zen travel 14 Transportation ZEN TRAVEL Plane Bus Ship Car Cyclo Taxi Hotel Resort Guest- house Restaurant Traditional food Bar Coffee shop Traditional activities Festival Bar Disco Souvenir shop Shopping center Super market Night market Beach Mountain Orchard Temple Accommodation Food Entertainment Shopping Visit experience Local hosts
  15. 15. Resource & Capabilities Resource Characteristic Tangible Financial  Invest by ourselves (20 people) Physical  Size: 20 members  Corporate with the other food/transport/flight companies  Office at Ocean Park Building, Dao Duy Anh street, Dong Da District, Hanoi Culture  High collaboration, no one is smarter than all of us Intangible Technology  All staffs are trained in tourism, MBA,…in foreign countries Reputation  New brand name Human  Enthusiastic and confident teams: high soft skills and high understanding different cultures; nonstop learning with several training courses delivered by experts Business plan - Zen travel 15
  16. 16. Resource & Capabilities Resource Importance Relative strength Capabilities Importance Relative strength R1: Financial 8 5 C1: Marketing 9 4 R2: Size 5 5 C2: Tour development 9 6 R3: Location 3 8 C3: Tour operating 8 7 R4:Technology 6 8 C4: Corporate relations 8 6 R5: Reputation 8 2 C5: Financial mgt 8 3 C6: HRM 4 3 C7: IT 7 8 Business plan - Zen travel 16 Both scales range from 1 to 10 (1= very low, 10= very high)
  17. 17. Resource & Capabilities Business plan - Zen travel 17 Relativestrength Strategic Importance R1R2 R3R4 R5 C5 C2 C4 C3 C1 C6 C7 1 1 10 10
  18. 18. External analysis2 1 Mission, vision, goals 3 Internal analysis CONTENTS 4 SWOT Business plan - Zen travel 18
  19. 19. SWOT Analysis Positive aspects Negative aspects STRENGTHS WEAKNESSES Internalfactors - Enthusiastic and confident teams - High quality training systems - Good relationships with local authorities, residents and youth community at the visited destinations - Poor reputation - Finance problems OPPORTUNITIES THREATS Externalfactors - Members of WTO, ASEAN - High population volume and growth rate - Unstable politics in neighboring nations - Having a great deal of beautiful and unexploited sightseeing - Possible to open branches - Possible to develop an international brand name - Growing competition from local companies and international companies - Same services will be implemented by competitors - Languages barriers 19
  20. 20. External analysis2 1 Mission, vision, goals 3 Internal analysis CONTENTS 5 Action plan / Business Model 4 SWOT Business plan - Zen travel 20
  21. 21. Marketing plan – Market Analysis Business plan - Zen travel 21 Percentage of market by nations Vietnam Southeast Asia Other Asian countries Europe America and Austrilia Others : foreign customers low prices, convenience, differentiation (quality of services, tour guides, transport, accommodation, traditional food)
  22. 22. Marketing plan – Main competitors Business plan - Zen travel 22
  23. 23. Marketing plan – Sales strategy Business plan - Zen travel 23 Services Popular of each service to customers Zen travel (me) National competitor (Viet travel) International competitor (Couchsurfing) Find hosts *** Free Not available Free Entertainment ** Free Not available Free Offer temporary jobs ** Free Not available Not available Tours *** 80 USD domestic 200 USD Southeast Asia 150 USD domestic 300 USD Southeast Asia Not available Adventure tours ** 300 USD one night one day Available but not regular Not available Accommodation *** At the price of cooperating hotels/hostels Not available Not available Transportation *** At the price of transport company Higher Not available Food *** At the price of restaurants in visited places Higher Not available Shopping *** At the price of souvenir shopping center Not available Not available
  24. 24. Operational plan – Channels of distribution Business plan - Zen travel 24 Internet Phone Office Community Conferences
  25. 25. Organizational plan – Organization chart Business plan - Zen travel 25 Center Administration Marketing team Flyer Online support Forums Websites Website development team Receptionist Tour guide team Event management team Action team Speakers DJ team MC Volunteers Management board(Zen and Paul) Key management personnel Passion Power Patience
  26. 26. Financial Analysis  Starting year: 2015  Estimate of start-up costs • Fixed costs • Operating costs  1 year forward  2 years forward  3 years forward  Profit monthly, yearly, break-even  Projected income  1 year forward  2 years forward  3 years forward Business plan - Zen travel 26
  27. 27. Start-up cost and operating cost Operating cost Year 1 (2015) Year 2 (2016) Year 3 (2017) Payroll $100,000 $150,000 $200,000 Sales and Marketing and Other Expenses $15,000 $17,000 $21,000 Rent $12000 $12100 $12500 Travel $500 $1000 $1500 Insurance $12000 $13000 $14000 Maintenance $10000 $0 $0 Payroll Taxes $0 $0 $0 Others $500 $700 $900 Total Operating Expenses $150,000 $193,800 $249,000 Business plan - Zen travel 27 Start-up Requirements Start-up Expenses Legal $300 Equipment $500 Brochures $500 Insurance $500 Rent $100 Others $500 Total Start-up Expenses $2400 Start-up Assets Cash Required $10000 Total Requirements $12400
  28. 28. Profit monthly Business plan - Zen travel 28 -4000 -2000 0 2000 4000 6000 8000 10000 12000 14000 16000 Profit monthly (USD) Profit monthly (USD) Start getting profit
  29. 29. Profit yearly Business plan - Zen travel 29 0 20000 40000 60000 80000 100000 120000 140000 Year 1 (2015) Year 2 (2016) Year 3 (2017) Profit yearly (USD) Profit yearly (USD) Nonstop increase
  30. 30. Break-even Analysis Business plan - Zen travel 30 0 2000 4000 6000 8000 10000 12000 14000 16000 18000 0 50 100 150 200 Turnover(USD) Cost(USD) Break-even when the number of sold products is 120
  31. 31. Projected Cash Flow Business plan - Zen travel 31 -20000 0 20000 40000 60000 80000 100000 120000 140000 Cash follow Cash balance Start getting profit
  32. 32. External analysis2 1 Mission, vision, goals 3 Internal analysis 6 Evaluation and control system CONTENTS 5 Action plan / Business Model 4 SWOT Business plan - Zen travel 32
  33. 33. Evaluation and control system  Track results of the business plan and make sure that we implement it  Maintain the market segment focus  To ensure that we are meeting their expectations at all times Business plan - Zen travel 33
  34. 34. Conclusion Business plan - Zen travel 34 Implementation Investigation and adjustment B Business plan Size Services Partners
  35. 35. ‘Fly feeling’ with ZEN TRAVEL Business plan - Zen travel 35
  36. 36. References  Lectures of professor Dr. Pilar Marquès Gou  "International visitors to Vietnam in December and 12 months of 2011". Vietnam National Administration of Tourism. Retrieved 26 January 2012.  http://www.vietnamtourism.gov.vn/english/index.php?cat=012041&itemid=6308  The Economist 2013  Ministry of Culture, Sport & Tourism Business plan - Zen travel 36
  37. 37. Logo ZEN TRAVEL 37Business plan - Zen travel

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