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My Travel Club Business Plan
 

My Travel Club Business Plan

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My Travel Club Business Plan My Travel Club Business Plan Presentation Transcript

  • My Travel ClubA Social Network for Travelers
  • What We Do• A platform to document travel experiences: 1. Interactive Maps 2. Ratings & Reviews 3. Top 5 or Top 10 Lists 4. Travel Journals/Blogs 5. User-Generated Content on Homepage
  • What We Do• A travel social network: 1. Friend Notifications 2. Introduction to a Broader Network 3. Mobile Check-ins with Gaming Incentives 4. Facebook Application & Integration 5. On-Demand Travel Guides Built from photos, maps, reviews, and lists from within your social network
  • Goals• Become the first site a traveler visits while planning a trip and the first site they visit upon returning.• Provide a fun and rewarding user experience• Built on goal of connecting people who love to travel
  • Competition• TripAdvisor.com• Frommers.com• Lonely Planet.com• Fodors.com• Igougo.com• VirtualTourist.com• TripIt.com
  • Demographics
  • Where Users Get Travel Information 61.5 million Americans traveled overseas for vacation in 2009Source: United States Department of Commerce
  • Where Users Get Travel InformationWe wantto reach 61.5 million Americans traveled overseas for vacation in 2009 Source: United States Department of Commerce
  • Our Advantage
  • From the Washington Post “Ah, TripAdvisor...you have to wonder sometimes about the (a) motivations and (b) IQs of some of the reviewers.”
  • An Example from Ko Phi Phi, Thailand “I felt like I had been dropped on Lord of The Flies…when we finally got to our rooms, we were nonplussed*.”
  • “I felt like I had been droppedon Lord of The Flies…whenwe finally got to our rooms,we were nonplussed*.” *
  • Nonplussed by this view?
  • A Review by my Friend, Ken
  • A Review by my Friend, Ken “This is the greatest place in the world”
  • S trengthsW eaknessesO pportunitiesThreats
  • SStrengths•Personalized Experience•Strong User Experience•Innovative Thinking•Technological Skills•Social Media Knowledge•Customer Service/Relationship•Management: Young, Loves Travel
  • WWeaknesses•No Existing Brand Identity•New to Travel Industry•No Existing Customer Base•Minimal Business Experience•Minimal Initial Funding
  • Opportunities O•New Network of Trusted Reviews•Redefine Online Travel Guides•New Genre of Print Travel Guides•Create a Brand Built on Trust•Make the Experience Fun for Users•Integration with Social Media
  • Threats T•Already Busy Travel Market•U.S. Travel Decreasing•TripAdvisor.com Expanding•New Start-Ups Competing•Difficulty Developing forFacebook
  • TripAdvisor.com7.4 Million Monthly U.S. Visitors + Other Competitors 6.3 Million Monthly U.S. Visitors =Total Competitors Traffic 13.7 Million Monthly U.S. Visitors
  • Year One Traffic Goal MyTravelClub.com 411,000 Monthly U.S. Visitors = 3 percent of all of our competitors monthly U.S. visitors
  • Technology & Costs • Website & Mobile Application - $60,000 • Facebook Application - $10,000http://apps.digijeff.com/
  • Staffing Costs • Founder, CEO, Utility Worker - $75,000 • Digital Communications Manager - $60,000 • Two Marketing & Sales Staff - $100,000Total Staffing Costs - $235,000
  • How to Build an Audience • Facebook integration, easy sharing capabilities • Facebook targeted advertising ($1,500 per month) • Social media marketing & customer relations • Google AdWords ($3,685 per month) • Travel Conventions • SXSW Conference • Jumping Pictures - Viral Contest
  • Revenue• Display Advertising 3 ads x 411,000 monthly visitors x 12 months x $7.50 CMP = $110,000• Affiliate Advertising w/ Living Social Escapes• Business Listings• Travel Guide Printing on Demand 411,000 monthly visitors x 12 months x .01 (1 percent) x $3.50 = $172,620
  • Projected Financials Year 1 Year 3RevenueDisplay Ads $110,000 $258,930Affiliate Marketing w/ Living Social $90,360 $210,000Business Listing Program $90,000 $270,000Travel Guide Printing $172,620 $402,780 REVENUE TOTALS $462,980 $1,141,710ExpensesDevelopment $80,000 $10,000Staffing $235,000 $300,000Marketing $67,800 $150,000 EXPENSE TOTALS $382,800 $460,000NET EARNINGS $80,180 $681,710
  • Stepping into the Blind Spot No more reading reviews by nonplussed anonymous people online, Harvard students, or stuffy travel writers. Build your online travel guide around the people you trust.