TABLE OF CONTENTS
1. Executive Summary..........................................................................................................
1.1 Business Overview ……………………………………………………………………………..
Pg
3
4
2. Business Description........................................................................................................ 4
2.1 Mission Statement ............................................................................................................ 4
2.2 Vision Statement ............................................................................................................... 4
3.Market Analytics ................................................................................................................ 5
3.1 Target Market .................................................................................................................... 5
3.2 Market Trends.................................................................................................................... 7
3.3 Market Research................................................................................................................ 8
4. Business Strategy ............................................................................................................. 9
4.1 Product Line ..................................................................................................................... 11
4.2 Pricing Strategy ............................................................................................................... 12
4.3 Marketing And Sales Strategy ...................................................................................... 13
5. Operation Plans ................................................................................................................. 15
6. SWOT analysis..................................................................................................................... 17
7. Financial Plan ................................................................................................................... 19
7.1 Startup Funds And Requirements....................................................................................... 19
7.2 Break Even Analytics…………............................................................................................ 20
7.3 Financial Forecast……........................................................................................................ 21
8. Checklist/Milestones.......................................................................................................... 22
1. Executive Summary
Business Name: 2rista Travel And Logistics
Founder/ Owner:
Location:
2rista is a dynamic and forward-thinking travel and logistics company dedicated to
providing seamless and efficient solutions for travelers and businesses alike.
Leveraging cutting-edge technology, a robust network of partners, and a
customer-centric approach, we aim to revolutionize the travel and logistics industry by
offering exceptional services that prioritize convenience, safety, and sustainability.
1.1 Business Overview
2rista is a dynamic and innovative travel and logistics company at the forefront of the
industry. Our company was founded with the vision of revolutionizing the way people
travel and transport goods, by providing a seamless and customer-centric approach to
travel and logistics services.
2. Business Description
At 2rista, we recognize the evolving needs and preferences of modern travelers and
businesses, and we strive to address them with utmost dedication. Our services
encompass a wide array of offerings designed to optimize travel experiences and
logistics operations, ensuring convenience, reliability, and sustainability.
2.1 Mission Statement
At 2rista , our mission is to revolutionize the travel and logistics industry by providing
innovative, customer-centric solutions that redefine convenience, efficiency, and
sustainability. We are dedicated to exceeding expectations and delivering unparalleled
experiences to every traveler and business we serve. With a relentless focus on
technology, sustainability, and unmatched service, we aim to be the trusted partner of
choice, simplifying journeys and logistics while positively impacting the world we travel
and operate in. Also, to be one of the top Travel agents in Canada.
2.2 Vision Statement
Our vision at 2rista is to be a global leader in travel and logistics, recognized for
pioneering advancements that transform the way people and goods move. We
aspire to create a connected world where travel is seamless, logistics are
efficient, and sustainability is at the core of every operation. Through relentless
innovation, sustainable practices, and a commitment to social responsibility, we
strive to enhance the lives of our customers, communities, and the environment.
We envision a future where 2rista sets the standard for excellence, shaping a
world where the journey is as rewarding as the destination.
3. Market Analysis
The travel and logistics industry is a dynamic and evolving sector that plays a
crucial role in facilitating global connectivity and commerce. Understanding the
market trends, dynamics, and opportunities within this industry is essential for
2rista to strategically position itself and seize growth opportunities.
3.1 Target Market
The target audience will primarily consist of individuals from Latin
America, Canada, and the USA.
1. Leisure Travelers:
Frequent Travelers:
Individuals who travel frequently for business or leisure, seeking seamless and
convenient travel services, including flights, accommodations, and
transportation.
Vacationers and Holidaymakers:
Families, couples, and solo travelers seeking curated vacation packages,
personalized itineraries, and unique experiences for their holidays.
Adventure Enthusiasts:
Outdoor and adventure enthusiasts looking for specialized travel services,
including adventure tours, hiking, trekking, and other adrenaline-pumping
experiences.
2. Business Travelers:
Corporate Executives:
Business professionals in need of efficient travel solutions, encompassing flight
bookings, accommodations, transportation, and itinerary management for
business trips.
Event Attendees:
Individuals attending conferences, trade shows, and corporate events, requiring
seamless logistics and transportation solutions for event participation.
3. Sustainable and Eco-conscious Travelers:
Environmentally Conscious Travelers:
Travelers who prioritize sustainability and eco-friendly travel options, seeking
assistance in planning carbon-neutral trips and environmentally responsible
choices.
NB: The primary focus of business services will be on first-time travelers,
with an emphasis on millennials, Generation X, and baby boomers.
3.2 Market Trends
The travel and logistics industry is constantly evolving, shaped by various trends driven
by technological advancements, consumer behaviors, sustainability concerns, and
global events. Staying abreast of these trends is crucial for 2rista to adapt its strategies
and offerings effectively.
1. Technological Advancements:
AI and Machine Learning:
AI-powered tools for personalized recommendations, customer service automation, and
predictive analytics to enhance customer experiences and optimize business
operations.
Blockchain Technology:
Integration of blockchain for secure transactions, identity verification, and managing
digital records, offering transparency and security in financial transactions and
contracts.
2.Health and Safety Measures:
Enhanced Hygiene Protocols:
Implementation of heightened health and safety protocols across the industry, including
rigorous cleaning standards, PPE requirements, and social distancing measures.
Flexible Booking Options:
Flexibility in booking and cancellation policies to accommodate changing travel plans
due to uncertainties related to health, travel restrictions, and other unforeseen events.
3. Sustainable and Responsible Travel:
Eco-friendly Transportation:
Growing demand for eco-friendly transportation options such as electric vehicles,
biofuels, and sustainable aviation fuels, promoting environmentally conscious travel
choices.
Carbon Offsetting:
Adoption of carbon offset programs and initiatives by travelers and companies to
compensate for their carbon footprint generated through travel and logistics operations.
3.3 Market Research
Market research is a critical process that helps 2rista understand its target audience,
industry dynamics, competitive landscape, and market trends. It serves as a foundation
for making informed business decisions and developing strategies that align with
market demands and opportunities.
1. Target Audience
The primary focus of my services will be on first-time travelers, with an emphasis on millennials,
Generation X, and baby boomers. The target audience will primarily consist of individuals from
Latin America, Canada, and the USA.
2. Competitor Analysis:
Strategies employed by other traveling businesses like TravelPerk in Canada
These strategies include:
● Extensive inventory of travel services
● Flexible booking with FlexiPerk
● Safety alerts with TravelCare
● Integrated travel policy & approval flows
● Centralized invoicing
● Easy & real-time expense reports
● Carbon offsetting with GreenPerk
● 24/7 customer support with a 15s target response time
● VAT reclaim to save up to 25% on travel
3. Customer Behavior and Trends:
Studying consumer behavior patterns, purchasing decisions, online/offline preferences,
and emerging trends in the travel and logistics sector assists in tailoring marketing
strategies and services to meet evolving customer expectations.
4. Technology Adoption and Integration:
Understanding the level of technology adoption among customers, emerging
technologies relevant to the industry, and how 2rista can leverage these technologies to
enhance its services and operations.
5.Customer Feedback and Surveys:
Collecting feedback from customers, conducting surveys, and analyzing reviews to
gauge customer satisfaction, identify areas for improvement, and refine service
offerings based on customer preferences.
4. Business Strategy
Developing a comprehensive and effective business strategy is vital for 2rista to achieve
its objectives, sustain growth, and maintain a competitive edge in the travel and
logistics industry. This strategy outlines the approach, goals, and initiatives that will
drive the business forward.
1. Market Positioning and Differentiation:
Objective:
● Position 2rista strategically in the market by clearly defining its unique value
proposition and differentiating from competitors.
Initiatives:
● Develop unique travel packages and logistics solutions that cater to specific
customer segments.
● Leverage sustainable practices to distinguish 2rista as an eco-friendly travel and
logistics provider.
● Utilize advanced technology to enhance customer experience and streamline
operations, setting 2rista apart as a tech-savvy company.
2. Technology Integration:
Objective:
● Leverage technology to enhance efficiency, streamline operations, and deliver a
seamless experience to customers.
Initiatives:
● Invest in advanced booking systems, AI-powered chatbots, and a user-friendly
mobile app to improve the booking process and customer engagement.
● Implement IoT for real-time tracking and monitoring of logistics, ensuring
transparency and accuracy in operations.
● Explore partnerships with tech companies to integrate innovative solutions that
enhance the overall travel and logistics experience.
3.Brand Building and Marketing:
Objective:
● Build a strong brand image and effectively market [Business Name] to increase
brand awareness and customer engagement.
Initiatives:
● Develop a compelling brand identity and consistent messaging that resonates
with the target audience.
● Utilize digital marketing channels, social media, and influencer partnerships to
reach a broader audience.
● Engage in community events, sponsorships, and partnerships to enhance brand
visibility and community involvement.
4.1 Product Line
The product line for 2rista encompasses a range of services aimed at enhancing the
travel and logistics experiences for our diverse clientele. We strive to cater to various
needs, preferences, and travel purposes while maintaining a high standard of service
and ensuring customer satisfaction.
1. Travel Services:
a. Flight Booking Assistance:
Expert assistance in finding and booking the most convenient and cost-effective flights
for domestic and international travel.
b. Accommodation Recommendations:
Curated suggestions and reservations for accommodations, including hotels, resorts,
vacation rentals, and boutique stays, based on the traveler's preferences and budget.
c. Car Rental Arrangements:
Facilitating rental car bookings to provide travelers with the freedom and flexibility to
explore their destinations at their pace.
d. Travel Insurance Guidance:
Guidance and assistance in selecting suitable travel insurance plans to ensure peace of
mind and financial security during the trip.
e. Customized Vacation Packages:
Tailored vacation packages designed to offer unique experiences, combining flights,
accommodations, activities, and more based on specific preferences and interests.
4.2 Pricing Strategy
Establishing an effective pricing strategy is crucial for 2rista to ensure competitive
pricing, profitability, and customer satisfaction within the travel and logistics industry.
1. Penetration Pricing:
Approach:
Set an initially low price to attract a significant customer base and gain market share
rapidly.
Rationale:
Establish a foothold in the market, increase brand recognition, and encourage customer
loyalty through attractive initial pricing.
2. Promotional Pricing:
Approach:
Offer temporary discounts, special offers, or limited-time promotions to attract new
customers or boost sales during specific periods.
Rationale:
Stimulate demand, clear excess inventory, and encourage trial of services.
3. Market-Oriented Pricing:
Approach:
Set prices based on the market demand, competition analysis, and the pricing strategies
adopted by competitors.
Rationale:
Ensure competitive pricing while considering market conditions and customer
expectations to remain attractive to potential customers.
4.3 Marketing And Sales Strategy
1. Brand Building and Awareness:
Online Presence:
● Develop a professional and engaging website that showcases [Business Name]'s
services, value proposition, testimonials, and easy-to-use booking features.
● Optimize the website for search engines (SEO) to improve visibility and attract
organic traffic.
Social Media Marketing:
● Utilize platforms like Facebook, Instagram, Twitter, and LinkedIn to share
engaging content, travel tips, promotional offers, and customer testimonials,
enhancing brand visibility and engagement.
Content Marketing:
Create and share informative blog posts, travel guides, and industry insights,
establishing 2rista as an authority in the travel and logistics domain.
2. Targeted Marketing:
Customer Segmentation:
● Segment the target audience based on demographics, preferences, behavior, and
past interactions to tailor marketing messages and offers accordingly.
Email Marketing:
● Implement targeted email campaigns to nurture leads, share updates, promote
services, and provide personalized recommendations based on customer profiles
and interactions.
Pay-Per-Click (PPC) Advertising:
● Utilize online advertising platforms like Google Ads to reach potential customers
actively searching for travel and logistics solutions, optimizing for relevant
keywords and locations.
3. Influencer Partnerships:
Identify Influencers and Travel Bloggers:
● Collaborate with influencers and travel bloggers who align with 2rista’s brand
values and target audience to promote services and increase brand awareness.
Sponsored Content and Reviews:
● Engage influencers to create sponsored content, reviews, or social media posts
highlighting the value and benefits of using 2rista's services.
4. Customer Referral Program:
Incentivize Referrals:
● Implement a referral program that rewards existing customers for referring new
clients, encouraging customer loyalty and expanding the customer base.
5. Exceptional Customer Experience:
Personalized Customer Service:
● Provide exceptional, personalized customer service through various
communication channels such as phone, email, chat, and social media to
address queries and concerns promptly.
Customer Feedback and Reviews:
● Encourage satisfied customers to leave positive reviews and testimonials on
review platforms and social media, enhancing credibility and trust among
potential customers.
5. Operational Plans
1. Booking and Reservation System:
Objective:
● Develop a user-friendly online platform for customers to book flights,
accommodations, and other services seamlessly.
Action Steps:
● Collaborate with web developers to design an intuitive and secure booking
system.
● Implement real-time updates for flight availability, pricing, and instant
confirmation for reservations.
● Ensure compatibility across various devices (desktop, mobile, tablets) for a
smooth user experience
.
2. Customer Service and Support:
Objective:
● Deliver exceptional customer service to enhance satisfaction and foster
long-term relationships.
Action Steps:
● Establish a dedicated customer support team available 24/7 to assist with
inquiries and resolve issues.
● Utilize a Customer Relationship Management (CRM) system to track customer
interactions and preferences for personalized service.
● Train customer service representatives to handle various scenarios, ensuring
prompt and professional responses.
3. Technology and IT Infrastructure:
Objective:
● Maintain an efficient and secure IT infrastructure to support operations and
customer interactions.
Action Steps:
● Regularly update and upgrade hardware and software systems to ensure optimal
performance and security.
● Implement cybersecurity measures to protect sensitive customer data and
prevent unauthorized access.
● Provide training to employees to effectively use the technology and software
systems in place.
4. Talent Development and Training:
Objective:
● Foster a skilled and knowledgeable workforce to provide high-quality services.
Action Steps:
● Develop a training program covering industry trends, customer service,
technology usage, and sustainability practices.
● Encourage continuous learning and development through workshops, seminars,
and online courses.
● Recognize and reward employees for exceptional performance and dedication.
5. Risk Management and Contingency Plans:
Objective:
● Mitigate risks and establish contingency plans to ensure business continuity in
unforeseen circumstances.
Action Steps:
● Identify potential risks related to market fluctuations, geopolitical events, or
natural disasters.
● Develop contingency plans and protocols for crisis management, business
continuity, and disaster recovery.
6. SWOT ANALYSIS
STRENGTHS:
Strong Online Presence:
● 2rista has a robust online platform, facilitating easy access for customers to
book travel and logistics services.
Personalized Service:
● The ability to offer tailor-made travel packages and logistics solutions based on
customer preferences and needs, providing a personalized experience.
Technological Integration:
● Effective use of technology, including a user-friendly website, mobile app, and
advanced booking systems, enhancing efficiency and customer engagement.
Partnerships and Alliances:
● Collaborations with airlines, hotels, and other service providers, ensuring a wide
range of options and competitive pricing for customers.
Customer-Centric Approach:
● Dedicated customer support available 24/7, focusing on exceptional service and
prompt issue resolution.
WEAKNESSES:
Dependency on Technology:
● Overreliance on technology might pose challenges during system downtimes or
technical issues, impacting operations and customer service.
Limited Physical Presence:
● Absence of physical offices in certain regions might limit the reach and
accessibility for potential customers who prefer face-to-face interactions.
Initial Brand Recognition:
● As a new business, 2rista may face challenges in gaining brand recognition and
establishing trust among potential customers.
Operational Scalability:
● Challenges related to scaling operations swiftly to meet sudden spikes in
demand or expansion into new markets.
OPPORTUNITIES
Rising Travel Demand:
● The increasing desire for travel, especially as travel restrictions ease
post-pandemic, presents significant growth opportunities.
Sustainable Travel Trend:
● Growing preference for sustainable and eco-friendly travel, allowing [Business
Name] to capitalize on sustainability initiatives.
Partnerships with Influencers:
● Collaborating with travel influencers and bloggers to promote [Business Name]'s
services can expand the customer base and enhance brand visibility.
Expansion into Emerging Markets:
● Expansion into emerging markets or regions with a rising middle class and
increased disposable income can tap into new customer segments.
THREATS
Intense Competition:
● The highly competitive nature of the travel and logistics industry, with both
established players and new entrants vying for market share.
Regulatory Changes:
● Evolving and stringent regulations related to travel, logistics, and environmental
policies, impacting operations and compliance.
Economic Volatility:
● Economic downturns, fluctuating exchange rates, or fuel price increases could
adversely affect travel demand and profitability.
Cybersecurity Risks:
● The increasing prevalence of cyber threats could pose risks to customer data
security and business operations.
7. Financial Projection
7.1 Startup Funds And Requirement
Based on research, the startup funds of the business is estimated to 5,000 Canadian
Dollars. This estimate includes Registration, branding, licenses and permits, insurance,
technology and tools, website design and marketing.
The startup requirements of the business include:
● Registration
● Branding
● Licenses and Permits
● Insurance
● Technology and Tools
● Website Design
● Staffing
● Marketing and Promotion
NB: All values are in Canadian Dollars
Startup Expenses
● Registration
● Branding
● Licenses and Permits
● Insurance
● Technology and Tools
● Website Design
● Staffing
● Marketing & Promotion
Total Startup expenses
250
50
300
1000
1,250
700
100
500
4,150
7.2 Financial Forecast
We are quite optimistic that we will meet our set target of generating enough income/profits from
the third month of operations and grow the business and our customers in the selected
regions/countries. We have been able to critically examine the market and we have analyzed
our chances in the industry and we have been able to come up with the following sales forecast.
The sales projection is based on information gathered on the field and some assumptions that
are peculiar to similar businesses in the same region.
Important Assumptions
●
●
●
Growth is projected annually at: 60%
Tax is calculated at : 10%
Cost of sales : 30%
7.3 Break Even Analysis
Break Even analytics for the first month
●
●
●
●
●
●
●
●
Registration
Branding
Licenses and Permits
Insurance
Technology and Tools
Website Design
Staffing
Marketing & Promotion
Total
250
50
300
1000
1,250
700
100
500
4,150
Break Even analytics for the second month
●
●
●
●
Insurance
Maintenance
Staffing
Marketing & promotion
Total
100
200
100
100
500
Cash Flows.
NB: All values are in Canadian Dollars and are based on assumptions
1st month
2nd month
3rd month
4th month
5th month
Beginning
cash balance
5,000
850
350
1,100
3,600
Expenses
4,150
500
250
500
800
Net Profit
—
—
1000
3,000
1500
850
350
100
600
2,800
Gross ending
cash balance
Total Ending Cash Balance = 4,300
NB: 100% of the profit is added back to the business for efficient running of the
business.
8. Checklist/ Milestone
Business Name Availability Check: Completed
Business Registration: In-Progress
Application and Obtaining Tax Payer’s ID: In Progress
Application for business license and permit: In- Progress
Conducting Feasibility Studies: Completed
Writing of Business Plan: Successfully Completed
Drafting of Employee’s Handbook: In-Progress
Drafting of Contract Documents and other relevant Legal Documents: In Progress