My Travel Club Business Plan

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  • My Travel Club Business Plan

    1. 1. My Travel ClubA Social Network for Travelers
    2. 2. 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
    3. 3. 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
    4. 4. 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
    5. 5. Competition• TripAdvisor.com• Frommers.com• Lonely Planet.com• Fodors.com• Igougo.com• VirtualTourist.com• TripIt.com
    6. 6. Demographics
    7. 7. Where Users Get Travel Information 61.5 million Americans traveled overseas for vacation in 2009Source: United States Department of Commerce
    8. 8. Where Users Get Travel InformationWe wantto reach 61.5 million Americans traveled overseas for vacation in 2009 Source: United States Department of Commerce
    9. 9. Our Advantage
    10. 10. From the Washington Post “Ah, TripAdvisor...you have to wonder sometimes about the (a) motivations and (b) IQs of some of the reviewers.”
    11. 11. 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*.”
    12. 12. “I felt like I had been droppedon Lord of The Flies…whenwe finally got to our rooms,we were nonplussed*.” *
    13. 13. Nonplussed by this view?
    14. 14. A Review by my Friend, Ken
    15. 15. A Review by my Friend, Ken “This is the greatest place in the world”
    16. 16. S trengthsW eaknessesO pportunitiesThreats
    17. 17. SStrengths•Personalized Experience•Strong User Experience•Innovative Thinking•Technological Skills•Social Media Knowledge•Customer Service/Relationship•Management: Young, Loves Travel
    18. 18. WWeaknesses•No Existing Brand Identity•New to Travel Industry•No Existing Customer Base•Minimal Business Experience•Minimal Initial Funding
    19. 19. 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
    20. 20. Threats T•Already Busy Travel Market•U.S. Travel Decreasing•TripAdvisor.com Expanding•New Start-Ups Competing•Difficulty Developing forFacebook
    21. 21. 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
    22. 22. Year One Traffic Goal MyTravelClub.com 411,000 Monthly U.S. Visitors = 3 percent of all of our competitors monthly U.S. visitors
    23. 23. Technology & Costs • Website & Mobile Application - $60,000 • Facebook Application - $10,000http://apps.digijeff.com/
    24. 24. Staffing Costs • Founder, CEO, Utility Worker - $75,000 • Digital Communications Manager - $60,000 • Two Marketing & Sales Staff - $100,000Total Staffing Costs - $235,000
    25. 25. 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
    26. 26. 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
    27. 27. 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
    28. 28. 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.

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