Personalized Holiday Planner Business Proposal Sample

Introduction Of Personalized Holiday Planner Business Proposal for Tourism in London

The UK's tourist services business is a vibrant and varied field that includes lodging, travel, eating, tour procedures and more. With a variety of price points, lodging options include anything from hotels to weekend homes. Travel is made easy by transport options, and restaurants provide everything from upscale dining to typical pub fare. The investigation of historic, cultural, as well as biological sites is facilitated by travelers and travel companies (Paul, 2019). The diversified offers of the UK, which include museums, amusement parks, and adventure sports, appeal to a wide range of preferences. The tourism sector, which includes event planning and conventions, makes a sizable financial contribution to the tourist industry. Travel integrating technology improves the traveler's journey by making scheduling and data access easier. As a whole, the UK's tourist services sector provides a thorough and complete visit that highlights the country's extensive legacy, culture, and scenic beauty.

Given that it is in line with market expectations and present trends. The business proposal concept of providing new business which is customized trip packages namely Holiday Planner within London, England, has a lot of potential. An abundance of historic, cultural as well as leisure activities makes London, among the many popula

r tourist destinations in the globe, a top choice for visitors. The idea of personalization appeals to passengers' increased demand for universal trips as opposed to customized experiences. Additionally, the notion has the ability to promote sustainable and ethical travel. The company may meet the growing demand for moral and ecologically responsible tourist activities by forming alliances with regional travel agents and lodging providers to assist the regional economy.

A customized vacation package company in London is an attractive concept for a number of factors. Initially, London was a major tourist destination on the planet, drawing millions of visitors yearly. Secondly, visitors increasingly look for customized and one-of-a-kind experiences, which have led to an increasing demand within the tourism sector. The enormous scope of the London tourist industry and the need for customized travel services are combined in this company idea. A company is a group or entity that engages in commercial, industrial, or professional with the primary goal of offering items or services to clients in return for revenue (MarketLine Industry Profile: Travel & Tourism in United Kingdom', 2023). According to Business Research, data is systematically gathered, analyzed, and interpreted to aid in decisions made by organizations. It aids in locating possibilities, difficulties, and patterns within a certain market. The goal of significant income growth and the dedication to presenting inside a certain timetable shows a proactive attitude toward achievement.

Objectives:

• To launch a personalized trip package company in England's capital, London, serving the distinct requirements and tastes of visitors.
• To accomplish a minimum 20 percent annual rise in revenue ratio throughout the initial 3 years of business.
• To expand the scope of the products, form alliances with regional travel agencies and lodging establishments.
• To link the company's operations with green tourism principles, encouraging the use of green modes of transport and assisting communities nearby.
• To open the doors in the following 6 months and build a sizable clientele in the initial year.

Stakeholder Analysis

This matrix divides stakeholders into four separate sections and evaluates their levels of engagement and influence in the overall endeavor. Each section represents a specific stakeholder category and offers recommendations for the proper frequency and amount of interaction (Stakeholder Analysis, 2023). A thorough stakeholder evaluation is essential for this company's plan since it focuses on creating individualized travel packages. It is necessary to guarantee the effective functioning and expansion of the company. The power/interest grid, a tactical tool, is going to be used in the study to efficiently determine and organize stakeholders. The firm will serve High power as well as high interest shareholders at the highest level of the grid. Since they have the potential to have a substantial influence on the company and have a great interest in trip packages, such will largely be clients. The company will employ outstanding client care, individualized services, and user-friendly booking tools to meet their demands.

The newly formed business confronts stakeholders with great power but little enthusiasm as it moves to the correct location on the grid. Governmental organizations and governmental entities may fall under this classification. To keep good connections with these interested parties and ensure that company operations comply with legal requirements, adhering to travel rules and laws is going to be crucial. The company will also have shareholders that have significant interest but little influence. Local groups, travel writers, and personalities might make up this category. Associations and alliances with them are able to help us in increasing the consumer base as well as brand recognition (Grant, 2021). Finally, a Low power as well as low interest stakeholder is going to be effectively handled to assure affordable operations, including providers of unimportant goods or services. Businesses are cautious in planning for prospective situations, comprehending the complexities of the corporate atmosphere, and effectively handling connections by doing this kind of stakeholder assessment. By navigating difficulties, seizing possibilities, and cultivating fruitful ongoing relationships, the business will be able to contribute to the continued growth and viability of the customized trip package industry in the years ahead.

Market Research

Overview

Market study is frequently known as marketing research. It refers to a variety of approaches used to gather information and develop an in-depth comprehension of the market for a business (Biancone, et.al, 2022). This useful data helps companies in creating better products to improve consumer experiences. Along with this, efficient marketing plans that draw in qualified prospects eventually increase exchange rates.

Defining three positive and negative market trends in the UK Tourism Services industry.

UK tourist service business, which includes lodging, travel agencies, restaurants, landmarks and travel, is broad and active. The British economy benefits greatly from the yearly influx of millions of local as well as foreign tourists. Beneficial tourism sector trends involve the growing use of environmentally friendly techniques including carbon-free travel and green lodging, which support the international sustainability campaign. Furthermore, the sector will be going via a digital transition thanks to tools like smartphone applications as well as virtual trips, which enhance the passenger experience (Malhotra, 2020). Due to Britain's diversified food scenario, culinary travel has been on the increase as travelers sample regional as well as local foods. The continued uncertainty surrounding Brexit is one of the negative patterns in the UK tourist sector. This ambiguity may have an impact on the amount of foreign visitors and international commercial activities. The Covid19 aftereffects, such as travel bans and health worries, are still impeding the industry's turnaround. Problems like congestion and pressure on local facilities and assets arise as a result of excessive tourism issues in well-known tourist locations.

Identify and describe your potential clients.

Figure 1: Number of overseas resident visits to the United Kingdom (UK) from 2002 to 2022, with a forecast for 2023

This graph stated that the pandemic-related steep fall in foreign tourism visitors to the UK in the preceding two years was significantly reversed in 2022. About 31 million people visited the UK from abroad in entirety, a rise of roughly 25 million from 2021 yet less than pre-pandemic points. The number of foreign visitors to Britain is predicted to increase further in 2023, hitting an anticipated 37.5 million.

Assessing how new business will fulfill the need, want and demand of target market

The meeting the requirements of Borough market in London in the UK with the following needs:

• Particular need- In order to really appreciate London's rich heritage, culture, as well as culinary pleasures, travelers require bespoke trips that go above and beyond standard excursions.
• Want- Travelers need deep adventure trips that combine cultural exploration, gastronomic exploration, and regional perspectives and allow them to forge special memories (Khan, et.al, 2021).
• Demand- Positive customer feedback and referrals from others demonstrate the rising desire for individually tailored trip packages.

Holiday Planner is going to satisfy this demand by providing custom trip packages that integrate sightseeing, dining, and exploring the culture. It gives visitors the ability to design the perfect London experience, meeting the exact desire, need, as well as demand for unique and outstanding travel experiences.

Competition analysis

Competitor scrutiny, also known to be competitive evaluation, is the methodical procedure of locating and assessing rivals in a certain market or sector (Lucas, 2022). This thorough investigation explores numerous facets of rivals' marketing strategies in order to get insightful knowledge as well as an edge over them.

Swot & Pestle analysis

SWOT analysis of the new business

PESTLE analysis Several external factors will have a substantial impact on the customized travel package business's success or failure, including:

• Political- For uninterrupted travel and smooth functioning of operations, political stability is highly essential (PESTLE Analysis, 2023). Changes in governmental regulations, international relations, or limitations on travel may have an effect on consumer demand and corporate operations.
• Economical- Consumer travel expenditure is significantly influenced by the state of the economy. While recessions may result in decreased travel expenditures and consumer demand for the services, strong economies stimulate increased travel.
• Social- The target market may change as a result of changes in demographics, lifestyles, and preferences for travelling. Depending on the ability to adapt, trends like travelling alone, environmentally friendly tourism, and cultural discovery may bring possibilities or obstacles.
• Technological- through enhanced booking systems, individualized advice, and effective communication with customers, technological advancements may benefit company (Turo?, 2021). Nevertheless, it is essential to keep up with cybersecurity and technological advances.
• Legal- Compliance to travel policies, data protection legislation, and agreements with partners and suppliers is essential. Business operations may be affected by legal difficulties, such as claims for liability or amendments to legislation governing travel.
• Environmental- Growing environmental sustainability knowledge may encourage eco-friendly travel decisions. Having the ability to provide ecologically friendly solutions and reduce the environmental impact has may draw tourists who care about the environment.

Business Strategy

The collection of strategic operations and strategies that an enterprise implements to create benefits for the company as well as all parties involved with a final objective of securing its edge within the marketplace is known as the business plan. It has to be developed before the creation or provision of items or services since it is a crucial component of a business's success.

Short term strategy

In order to control or monitor business activities benchmarking technique will be used. On the basis of this, current performance will be evaluated in against to the benchmarks or standards related to market share, sales and profitability aspects. This in turn helps in assessing deviations which take place in current performance and gives indication pertaining to taking corrective measures for performance improvement. For enhancing sales revenue, business entity will lay more focus on undertaking competent promotional strategies and campaign. On the basis of this, through social media sites customers will be targeted which further results into high sales.

Long term strategy

For attaining success in highly competitive business arena competent marketing mix will be drafted and modified as per the requirement. The strategies and activities a business uses in order to advertise its name or goods in the marketplace are included within the mix of marketing. Marketing mix enclosed in appendix. Income statement

Digital Applications/Software

Using the appropriate electronic instruments and software programs is essential for achievement in the highly regulated tour and tourism sector.

Every travel company's booking and registration platforms, which provide clients with a flawless online purchasing experience, are its foundation (Purbasari, 2023). Computerized booking approvals, safe handling of payments, and effective scheduling are all made possible by programs such as Booking.com or specially created software.The procedure of creating, arranging, and sharing personalized travel plans is made easier by trip preparation and itinerary application programs such as Travefy. They help make travel for customers efficient and well-planned. Handling payments online, assuring the safety of money transactions, and providing clients with a variety of ways to pay all depend on safe payment handling platforms such as PayPal. Accounting programs such as Xero make accounting chores such as billing, keeping track of expenses, and reports on finances simpler.

Travel firms may increase brand awareness and client loyalty by keeping a busy website and interacting with clients on social media (Bocken, et.al, 2019). Holiday Planner can streamline marketing emails with the help of platforms for automated marketing including Mailchimp (Fletcher, et.al, 2018). Campaigns and upgrades that are customized can efficiently connect potential buyers, boosting brand recognition and drawing in prospective clients. Hence, by using all the above mentioned software Holiday Planner can ensure smooth functioning of the operations or business activities.

Conclusion

The report concludes that the new business into the customized trip packages venture in London's Borough Market has a lot of possibilities and promises. Their belief in the long-term viability and achievement of the firm is supported by a number of important considerations. Initially, after the epidemic, the global tourism industry is recovering as tourists seek specialized experiences like those that this business provides. This reflects the changing desires of the customer. This venture is in an excellent spot to draw in a wide-ranging, captive clientele of food lovers, cultural applicants, and visitors due to its advantageous placement inside the bustling Borough Market neighborhood and its robust web existence. A dedication to providing great client service, individualized attention, and collaborations with neighborhood companies sets us apart from rivals. Finally, using digital devices and programs simplifies processes, boosts effectiveness, and raises client satisfaction. It predicts great client devotion and ongoing relationships by providing customized travel deals that respond to the particular demands and tastes of its consumers. Their strategy perfectly matches the expanding desire for significant, individualized trip memories in the ever-changing tourism environment. Thus, the firm is optimistic that it will prosper and establish itself as an established brand within Borough Market as well as the tourist industry in London.

References

Books and Journals

• Biancone, P., Calandra, D., Lanzalonga, F. and Sadraei, R., 2022. Emerging markets and multiple sectors for entrepreneurship: a multidisciplinary and multi-stakeholder analysis. In International entrepreneurship in emerging markets (pp. 7-28). Routledge.
• Bocken, N., Strupeit, L., Whalen, K. and Nußholz, J., 2019. A review and evaluation of circular business model innovation tools. Sustainability, 11(8), p.2210.
• Christodoulou, A. and Cullinane, K., 2019. Identifying the main opportunities and challenges from the implementation of a port energy management system: A SWOT/PESTLE analysis. Sustainability, 11(21), p.6046.
• Fletcher, J., Fyall, A., Gilbert, D., Wanhill, S., 2018. Tourism: principles and practice. Harlow: Person Education.
• Grant, R.M., 2021. Contemporary strategy analysis. John Wiley & Sons.
• Khan, A., Bibi, S., Lyu, J., Latif, A. and Lorenzo, A., 2021. COVID-19 and sectoral employment trends: assessing resilience in the US leisure and hospitality industry. Current Issues in Tourism, 24(7), pp.952-969.
• Lahtinen, V., Dietrich, T. and Rundle-Thiele, S., 2020. Long live the marketing mix. Testing the effectiveness of the commercial marketing mix in a social marketing context. Journal of Social Marketing, 10(3), pp.357-375.
• Lucas, R., 2022. Customer service. McGraw-Hill US Higher Ed USE.
• Malhotra, N.K., Nunan, D. and Birks, D.F., 2020. Marketing Research. Pearson UK.
• MarketLine Industry Profile: Travel & Tourism in United Kingdom'. 2023. Travel & Tourism Industry Profile: United Kingdom, pp. 1–80.
• McKeever, M., 2018. How to Write a Business Plan. Berkeley, California: NOLO.
• Paul, J. and Rosado-Serrano, A., 2019. Gradual internationalization vs born-global/international new venture models: A review and research agenda. International Marketing Review, 36(6), pp.830-858.
• Purbasari, R., Munajat, E. and Fauzan, F., 2023. Digital Innovation in the Digital Innovation Ecosystem: A Digital Collaboration Networks Approach. Review of Integrative Business and Economics Research, 12(3), pp.200-216.
• Stocchi, L., Pourazad, N., Michaelidou, N., Tanusondjaja, A. and Harrigan, P., 2021. Marketing research on Mobile apps: past, present and future. Journal of the Academy of Marketing Science, pp.1-31.
• Turo?, K. and Kubik, A., 2021. Business innovations in the new mobility market during the COVID-19 with the possibility of open business model innovation. Journal of Open Innovation: Technology, Market, and Complexity, 7(3), p.195.

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• PESTLE Analysis. 2023. [Online]. Available through: <https://libguides.library.usyd.edu.au/c.php?g=508107&p=5994242>
• Stakeholder Analysis. 2023. [Online]. Available through: <https://www.mindtools.com/aol0rms/stakeholder-analysis>
• SWOT analysis.2023. [Online]. Available through: <https://www.business.qld.gov.au/running-business/planning/swot-analysis>