[Business Model Innovation] LocalB Report

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Report
Business Model Innovation
7 - April - 2023.
Code: 25YGAM407A
Names
Sjeng Snackers
Gyeongmin Kim
Yoojin Kim

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Contents
Introduction and motivation................................................................................................................................................ 4
Analysis.......................................................................................................................................................................................... 6
Background information related to the chosen market ..................................................................................... 6
Target group analysis (using the empathy map-method) ................................................................................. 7
Competitor analysis............................................................................................................................................................. 9
About ‘Local B’.........................................................................................................................................................................10
The concept..........................................................................................................................................................................10
The Brand & Logo..................................................................................................................................................................13
Mission & Vision ................................................................................................................................................................13
About our business model.................................................................................................................................................15
Business model patterns.................................................................................................................................................16
How does it work?.............................................................................................................................................................18
Marketing Mix 4Ps & Marketing goals.....................................................................................................................19
Marketing strategy: Online preference test & creating own avatar............................................................20
Unique selling points............................................................................................................................................................22
Financial analysis, operating budget, Liquidity forecast........................................................................................23
App design............................................................................................................................................................................23
Rent ..........................................................................................................................................................................................23
Personnel................................................................................................................................................................................24
Marketing...............................................................................................................................................................................24
Income ....................................................................................................................................................................................25
Liquidity year 1/2/3...........................................................................................................................................................26
Investmentplan....................................................................................................................................................................27
Operating budget ..............................................................................................................................................................27
Company legal form and legal issues...........................................................................................................................28
1. Jurisdiction .......................................................................................................................................................................28
2. Confidentiality Agreement for Business Idea ...................................................................................................28
3. Intellectual Property Rights to Prevent the business from Copycats ....................................................28

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4. A Privacy Policy..............................................................................................................................................................28
5. The Right App Legals..................................................................................................................................................29
Introduction and planning (an extensive planning for the first year).............................................................29
- Build the app.............................................................................................................................................................30
- Contact travel agencies for the professional guide .................................................................................30
- Contracts for discount...........................................................................................................................................30
- Contact brands for the decoration of the avatar......................................................................................30
- GPS, automatic translation ..................................................................................................................................31
- Beta version................................................................................................................................................................31
- Data for the solo travelers and locals............................................................................................................31
- Legal issue ..................................................................................................................................................................31
Summary and conclusion....................................................................................................................................................32
Appendices................................................................................................................................................................................33
Sources....................................................................................................................................................................................34
OpenGeeksLab. Top 7 Legal Issues To Consider In Mobile App Development. Top 7 Legal Issues To
Consider In Mobile App Development (opengeekslab.com)............................................................................34
Evaluation (Reflection)......................................................................................................................................................36
Individual excercises..........................................................................................................................................................38
1. Utopia ......................................................................................................................................................................38
2. Business Canvas Model (GOBOONY).........................................................................................................42
Small Research for the business .............................................................................................................................44

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Introduction and motivation
Do you like to travel? Do you like to travel with your friends or family? Or not, do you
like to travel alone? There are more and more solo travelers who focus on their own time
and enjoy traveling according to their personal preferences. According to new research
from MMGY, more travelers are going solo in 2022, one in four travelers plans to travel
solo in the next six months with Gen-Z and Millennials leading the way(Janeen Christoff,
2022). Also, Skyscanner data indicates that 54 percent are considering going to travel alone
in 2023(Selene Brophy, 2023). Travel search engine Kayak’s data shows searches for single-
traveler flights are 36 percent higher for 2023 travel than in 2022(Kayak, 2022). While a
survey by Skyscanner, a Kayak rival, indicates one in two travelers (54 percent) are
considering escaping solo in 2023, with 65 percent choosing to go their own way because
family and friends don’t share their interests about traveling (Skyscanner, 2022).
Our group has a great interest in traveling alone like this trend. If you travel alone, you
can wake up at any time you want, have breakfast with whatever food you want, and go
wherever you want without waiting for someone. We shared the pain of traveling alone,
talking about each other's travel experiences. It’s not easy to get information and plan a
trip schedule from start to finish. In the case of women, they also had a few concerns
about traveling to less crowded and unknown places. Not only that, but we also had
emotional pain such as loneliness. What do you think about it?
Let’s imagine you are going to travel to the city you like from now on. You will be a solo
traveler. What are you going to start with? What should you research, plan, and book?
Solo travelers have trouble with too much information and commercial advertising on the
Internet. The internet is full of tour products, information, hotels, and restaurants
advertising. We think travelers have to invest too much time filtering and organizing travel
information. What if they could easily get the most up-to-date information and organized
it? Also, what if you could be a friend with local people living in the city, get help, and
hang out with them? Nothing would be faster and more accurate than communicating
with locals living there. Not only that, but what would it be like to meet the locals and
travel together? Solo Travelers will be able to experience an incredible local experience!
We came up new business model in which solo travelers and locals can communicate
with each other and can be matched directly through GPS services. You will be able to
easily get the most up-to-date local information and have the special benefit of asking

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local people what you are curious about the city. In addition, you will be able to make the
most attractive travel plans only for you without the complicated process. You can meet
people anytime, anywhere instantly. Not only that, but you may be able to travel with
friendly local friends when you are lonely and bored during your trip. Assuming that you
are not a traveler or stranger but a local, this is also very interesting! Isn’t it?

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Analysis
Background information related to the chosen market
Solo travel has become an increasingly popular trend in recent years. Market analysis
shows that the solo traveler trend is driven by various factors, including a desire for
independence and freedom, customizing travel experiences to personal preferences, and
the opportunity for self-discovery. Solo travel also includes a wide range of demographics,
young adults, retirees, and even families with children. The market for solo travel is varied,
ranging from budget travelers looking for cheap accommodations and experiences to
luxury travelers seeking amenities.
Solo travelers are also increasingly seeking out travel companies’ sites or apps that serve
specifically their needs, such as solo-friendly accommodations, and group tours, and they
connect solo travelers with other solo travelers. The solo travel market is expected to
continue to develop in the coming years, driven by changing consumer preferences and
evolving travel industry trends. I think solo travel will be a popular option for many people
who want to experience more and more.
Rather than visiting popular tourist attractions, tourists who want local experiences are
interested in immersing themselves in the local way of life and connecting with local people.
They can live their lives with locals and connect with local cultures, customs, and traditions,
and it makes unique and authentic experiences. The most important benefit is that they
offer a more memorable and authentic travel experience. They can discover hidden places
and local treasures that are not well-known to the general tourist. Local experiences have
many forms, including visiting local markets, trying local cuisine, attending cultural festivals
and events, and participating in local community programs.
When people travel to other countries, they often feel a sense of curiosity and excitement
about meeting new people and making connections with locals and other travelers. In this
regard, not only travelers but also locals will be interested in encountering new people and
cultures. The tendency to want to make foreign friends is a natural part of the human
desire to connect with others and to learn about different cultures and ways of life. We
will make it easier for people to connect with others from around the world through the
community, and many locals use the tool to make foreign friends and build relationships
with people who are traveling. Even if people don’t travel far, they will be able to experience
various cultures and create pleasant memories.

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Target group analysis (using the empathy map-method)
The Empathy Map is a popular design thinking tool that is used to understand a target
audience or user's needs and emotions in a particular context or situation. It helps to build
empathy towards users by visualizing their perspectives. We recorded observations and
insights based on their research or interactions with the user. These observations can
include what the user says, does, thinks, and feels. The Empathy Map is a useful tool to
improve products or services to better meet their needs. So, we used the empathy map
for analyzing target group, 'solo travelers'.

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Customer Job Improve international awareness, knowledge / Being able to
communicate / need Insurance / Get used to customs / who is lonely
(ex. International student) / want to meet new foreigners / want to
know hidden local spots / want to know up-to-dated new information
Gains Freedom / Flexible Scheduling / meeting new cultures / A lot of
unique experiences / language exchange / planning your own trip /
making foreign friends / getting information before traveling / trying
cultures
Gain Creators Cultural difference guidance / Platform to share the experiences, a
great way to save the experience / fast Q&A / travel preference test
and introducing their preference of traveling / find similar friends
Pains Adjusting to new cultures / Loneliness / eating alone / organizing
everything by yourself / Time intensive / too much information / lack
of time / need trust system for authentication / don’t know cultures
and regulations
Pain Relievers Guide Book / Group activities / Organizing tools / GPS Service to find
buddies even if they don’t have exact plan / trust system (phone
number, avata) / professional travel guide and insurance
Products &
Service
Communicate Assistance / GPS map / Online connection & Physical
connection / provide community for solo travelers and locals

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Competitor analysis
Our main competitors are the ‘company that runs the trip guidance’.(especially locals)
1. Tours By Locals
Can find a tour, guide and shore excursions. If the user selects the city and travel date,
then the website shows the tour information. There is an overview of the city which user
selected and can see the guide’s schedule for the tour. At the schedule, you can see the
self-introduction of the guide, itinerary, meeting point, tour duration, transportation,
estimated local cash, tour price, recent review of the tour etc.
2. Withlocals
The user can select the city, travel date, language at first. Then the website pop ups with
the top 5 things to do in the city which the user selected. For example, if you select
‘Amsterdam’ as the city. 1) The 10 tastings of Amsterdam, 2) Highlights & hidden gems of
Amsterdam, 3) Private boat tours Amsterdam & welcome drink Amsterdam canals, 4)
Withlocals your way! – Amsterdam city tour, 5) Explore the Van Gogh museum with a local
guide, is it. Withlocals experiences are always private & personalized, the user can
customize their trip to their needs. Additionally, can find experiences for every interest. For
foodies, families, night owls, history buffs, newbies, style icons, adventurers, art lovers,
explorers. Users can search for the private tours with the cost of the tour, also the tour by
local.
3. Freetour
On this website, the user is able to request for the private group tour. Users can fill out
the form with the contact details and the tour. Their name, email address, country, phone
number(optional) and destination, language, departure date, number of adults and kids,
additional information is it. Then the website would connect the user with the provider
that best suits their requirements.
Also, users can look for the most popular free walking tours. The website shows some of
their popular tours in specific cities. Moreover, they provide free cancellation, live chat
support services.

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About ‘Local B’
The concept
The concept Local B consists of concept parts which all connect to the pains of travelling
solo,
The app is called Local B and its aim is to connect solo travelers with locals or other like-
minded travelers, and help to visit in the cities. By combining an online and offline
experience we give users the time to see the city while using their phone as a tool instead
of a lead. So how does this work?
Users create an account in the app in which they can set preferences through the travel
preference test and create their own avatar. After going through this set up the app will
show a map which moves along as you walk through a city. When you are using the app
you can create a notification with your needs or desires like “Let’s get a coffee!” or “Looking
for a group to go to a concert tonight”. In the app you can see other user's avatars and
chat with them if you like to gather for an activity. Language barriers will not exist because
of an automated translation service to let every user text in their native language. Local B
verifies people accounts by different security services and suggests public spaces like a
park or a bar to ensure a safe place to meet. By using this community service, you can ask
questions to locals and get more meaningful connections between users based on shared
interests. Besides the chat and connect functions the app also highlights hotspots found
by its users and possible activities based on your personal interests as well as tours given
by locals or companies. If the userbase in a certain city allows it Local B will even organize
get togethers for people with similar interests. All these features summed up result in the
following concept parts.

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1. Map-based interface: The app would use a
map-based interface to help travelers easily find
hotspots and activities in the cities they visit.
The map would include markers for
recommended spots such as restaurants, cafes,
bars, and attractions, as well as markers for
other solo travelers using the app nearby.
2. GPS assistance, traveling through a new and
unfamiliar city can be stressful, so Local B uses
GPS to help you navigate through the concrete
desert.
3. User Profiles: Users can create a profile within
the app with information about their travel
interests, hobbies, and the languages they
speak. Users can also use the travel preference
test for their profiles. This can help connect
travelers with others who share similar interests,
creating more meaningful connections.
4. Chat Functionality: Users can communicate with
other travelers using a chat function within the
app. This can allow for easier coordination of
meetups, activities and provide a way for travelers to connect with others even if
they don't speak the same language.
5. Review System: Users can rate and review hotspots in the cities they visit, providing
valuable feedback to other travelers using the app.
6. Local stores and events can use the app for marketing purposes and commercial
value. If they focus on expats and internationals, it will be a valuable asset in their
marketing strategy.
7. Group activities are started in combination with the local stores and partners if the
userbase is large enough.

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The Brand & Logo
The name for the businessmodel is
Local B, pronounced as “Local Bee”.
The name connects with the target
group in a few different ways. One of
the pains of the targetgroup is that
they want to be part of the local
community and learn about the city
like they were a local. By becoming a
“Local Bee” they integrate in a certain
city or hive and become part of a
community which wants to be as close
as a Bee colony. Bees also venture out
alone, just like the users. Secondly the hive can be seen as a safe space where likeminded
people gather to share their experiences. At last Bees make their very iconic buzz sound
which is the same sound as a large group of people at a place who are all talking.
Mission & Vision
Each company needs a vision and a mission to have a greater sense of purpose and added
value to the society and community which it wants to be a part of, there are a few different
reasons why a vision and a mission are necessary for a company to compete in a market,
these are written as follows
Provides Direction: A vision and mission statement gives direction to the company by
outlining its purpose, goals, and values. This helps to keep the organization focused on
what it wants to achieve, and provides a clear sense of direction for employees,
stakeholders, and customers.
Defines Company Culture: A mission and vision statement sets the tone for the company's
culture and values. It helps to define what the company stands for, what it believes in, and
how it operates. This can be important in attracting like-minded employees and customers,
and in creating a positive brand reputation.

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Differentiates from Competitors: A well-crafted mission and vision statement can help a
company differentiate itself from competitors. By highlighting the company's unique values,
goals, and purpose, it can attract customers who share those values and set the company
apart from others in the industry.
Guides Decision Making: A clear mission and vision statement can guide decision-making
at all levels of the organization. It helps employees understand how their work contributes
to the larger goals of the company, and can provide a framework for evaluating potential
business opportunities, partnerships, and other decisions.
Mission statement: Our mission is to empower solo travelers by creating a platform that
connects them with like-minded individuals around the world. We strive to foster a sense
of community and provide a safe and enjoyable experience for all our users.
Vision statement: Our vision is to become the go-to platform for solo travelers seeking
meaningful connections and experiences. We envision a world where solo travel is
accessible and enjoyable for everyone, and where our platform plays a key role in fostering
a global community of adventurers.

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Business model patterns
Our business model canvas used the earning model pattern. Customer segments that are
solo travelers who want to communicate with locals, who want updated travel information
would link to revenue streams. Revenue streams are advertising fees from travel agency,
accommodation and airline also professional guide brokerage fee.
We take the service model, advertising model and brokerage model. ‘Service model’ is
the way that the company offers intangible value to customers. Among service model, we
especially use self-service, personal/group service and realtime service. ‘Self-service’
provides tools to customers such that they can serve themselves. For example, it allows
customers to change the dates of a flight with app. For our business model, users can
contact other users that they want to, by searching and looking for lots of profiles. Also,
can find a person who has a similar interest to him or herself while traveling.
‘Personal/group service’ refers to the service that professionals provide on a one-to-one
basis. For our business, we have a professional tour guide service so that the users who
are interested in the professional tour can use that service through our application. Each
guide has their own profile, users can take a look at it and contact them. ‘Realtime service’
is a service which provides the immediate fulfillment of a customer request. For our
business model, we provide chatting service with translation. This function makes users to
contact immediately to each other and links each other to have a real meeting.(John Spacey,
2019)

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‘Advertising model’ is the strategic use of advertising mediums which is known as an
advertising model. The goal behind using such a model is to reach a specific audience.
These act as blueprints to help advertisers create persuasive ads, be it Print, Digital, or TV.
And our business model is concentrated on advertisements which the advertisers create.
To determine the right model and medium for any business, the company must understand
their target audience. Moreover, it’s essential to understand the pros and cons of every
advertising medium. Our business model will have a contract with some advertisers that
are related to the travel industry. Travel agency, accommodation and airline are our main
partners and by contracting with several of them, we will get the fee by advertising their
service on our app.(OkCredit, 2021)
Lastly, ‘brokerage model’ is Brokerage Model is a business model in which a third party
plays the role of a broker by providing services and facilities. In return of its services, it
charges the proportional amount of money involved in respective transaction or service.
Brokerage Model offers a single platform for different activities of sellers and buyers. The
world of internet has given further impetus to Brokerage Model by enabling the online
role of third-party in the provision of different types of services and facilities. For our
business, the advertisements from our partner would be uploaded on our page so that the
users can connect to the link and book for their plan.(Chris, 2021)

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How does it work?
Financially, our business model would work by the advertising fee and professional guide
brokerage fee. For the advertising fee, travel agency, accommodation, airlines would be
our partner. We would advertise their business into our travel app and provide the discount
code. Users can use the services for discounted cost, and we would earn the fee by the
process of it. Moreover, the premium account service would be operated. For the basic
account, only the discount coupon which is applicable to the partner
companies(accommodation, airline) are provided. Also, only basic profile decoration would
be possible. However, if the premium account, by paying the fee for it once a month, they
can get a promotion coupon that can be used in some stores nearby them. Can decorate
their profile by putting more clothes on their avatar and add music to their profile etc.
Financial work flow is similar to the Youtube’s revenue flow. Youtube’s method to earn
revenue is by advertising revenue, channel membership and shopping(Fans can look for
the creator’s product through the Youtube store and buy). Advertising revenue is running
by earn revenue from viewing page’s advertisements and Shorts’ feed advertisements. For
Channel Membership, channel members pay monthly fees in exchange for the special
benefits provided by creators. Our business model puts advertisements to our app so that
it’s exposed to users and they can see it. Also, similar to channel membership method,
however for our model the professional guides give us the fee for advertising their profile
in our app, not the users.

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Marketing
Marketing Mix 4Ps & Marketing goals
- Product: App named ‘Local B’. ‘Local B’ helps you meet locals or other solo travelers
around you through the GPS map, and offers community to share information and
communicate with local each other. This app meets the needs of people who want to
connect with new people and have a memorable experience. Our main target group is
solo travelers, also locals. GPS service, travel preference test, creating own avatar,
translation support service, and professional guide brokerage are our own differences from
rival apps.
- Price: Creating and activating an account in the app is free. Anyone can sign up and use
the app. The audience can access easily because it is free. Also, if you sign up for a premium
service and pay a certain amount of money every month, users can get more benefits. For
example, you can purchase additional items for your personal avatar and add music on
your profile. Also, you can receive promotional coupons every month that can be used by
stores in the city where you are located. I think it will be a reasonable expense for users
because of various benefits.
- Place: The main channel is the app. There's no one who doesn’t have a mobile phone
these days. Also, mobile is essential for solo travelers, mobile apps will be more convenient
than Internet sites. Therefore, the best distribution channel to reach our target is the mobile
app.
- Promotion: There are many ways to promote our service, but we will mainly spend on
social media marketing. We will progress with social media marketing utilizing the ‘online
preference test’ and ‘creating own avatar’ service, and it will attract early adopters.
- Marketing goal: We will progress marketing consistently based on our differentiated
service. Our marketing goal is to make customers remember our app as a ‘connective’ and
‘immediate’ brand. The numerical goal in 1 year is 2.219.500 users accounting for 5% of
solo travelers in Europe. In the beginning, there will be few partner companies, and most
of them will be new companies that are not famous. However, it will increase the number
of users and we can cooperate with larger companies. In conclusion, our goal is to work
with many large companies and earn a lot through advertising revenue.

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Marketing strategy: Online preference test & creating own avatar
Our business model would work by the advertising fee and professional guide brokerage
fee. Travel agencies, accommodations, and airlines would advertise their business into our
travel app. In order to make them want to pay advertising fee, it will be very important to
attract a large number of users first. We will induce the use of our service to customers by
providing travel opportunities to explore themselves. Specifically, ‘travel preference test’
and ‘creating own avatar’ will be used as key marketing strategies.
Online travel preference tests are useful for solo travelers and locals to manage their
profiles. Users can obtain the result about their travel preferences through the test. For
example, questions of the test are as follows. ‘Do you usually check the website's reviews
carefully when you find restaurants?’ Or ‘Do you choose restaurants just by your feeling?'.
'Do you like to visit museums?’ Or ‘Do you prefer hiking than visiting museums?'. 'Do you
like to enjoy the night with many people?’ Or ‘do you prefer to talk to a small group of
people?'. Through these questions, users can obtain types such as 'free spirit', 'researcher’,
'romantist', and 'artist', and they can introduce these results on their profiles. These
preference tests will be used as a means of expressing oneself regardless of whether they
are reliable or not. it will help people to relate and communicate with people of similar
types. Users will enjoy sharing their types and finding commonalities and differences.
Furthermore, we can obtain the viral marketing effects in the process of sharing their
tendencies. This is because the test is not a serious psychological test but a game for
simple entertainment purposes. It's a kind of self-identity game. This is not directly related
to profits, but it can be used as a means of improving brand awareness and can be an
opportunity to attract customers. In addition, customer data obtained through testing can
be useful in the future. It will be able to help improve services or create services because
it can identify the preferences or demands of the target group.

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The ‘Creating own avatar’ service is also similar. Creating an avatar involves designing
and implementing a marketing plan that targets a specific customer persona or avatar.
Users create their avatars by using their persona. They can put their name, age, job, and
any other relevant details and create avatars. This detailed customer persona can also help
us create a more personalized marketing strategy. GPS maps allow users to use avatars
instead of their own photos when they meet new friends within five kilometers. Users can
express themselves as cute avatars. Cute characters and various colors give familiarity and
attract people's attention. By creating a personalized avatar marketing strategy, we can
build stronger connections with users, increase engagement, and drive conversions. Along
with the travel preference test results, the avatar will be a useful tool for users to express
their identity and help them build relationships with others. These will be great strategies
to attract many users as well as fun.

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Unique selling points
Local B is the all in one app for solo travel, combining features which would otherwise be
pay to use or would require a user to research a lot of different forums and apps. Which,
in the stressfull moment of travelling alone, is a big setback and a lot to handle and process.
Connect with Like-Minded Travelers: Local B makes it easy for solo travelers to connect
with other travelers who share similar interests and travel plans. This can help to create a
sense of community and provide a more enjoyable travel experience.
Discover Local Hotspots: The app guides users to popular local hotspots and events, based
on user feedback and local expertise. This can help users to discover hidden gems and
experience the city like a local.
Stay Safe and Secure: Local B includes several safety features to ensure a safe and enjoyable
experience for users. This can give users peace of mind when traveling alone in unfamiliar
places.
Most of these selling points can be found in different apps which are not specialized in
traveling, the unique selling point comes forth out of the combination or remix of certain
assets which all combined make sure that there is a full immersive experience for the end-
user.

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Financial analysis, operating budget, Liquidity forecast
The financial analysis describes the financial plan which is required to turn the concept
written into a revenue earning company. This part is written by giving a financial overview
using a liquidity budget for the period of three years, an operating budget and a plan of
investment.
To ensure that a valid liquiditybudget can be made for the period of 3 years an overview
of all the costs and revenue is mandatory.
The costs can be divided in 2 different parts, part 1 describes all the costs made to create
the app and services, part 2 describes the costs of maintaining the app over the period of
3 years.
App design
Research shows that creating an app with all the functionalities that have to be
implemented will cost around 95.000 euros (SPDLoad, 2020). Building a full web application
will cost close to 60.000 euros (Forbes, 2023). These are the main investments that have to
be made upfront to get the operation running. Legal fees are also required for a start-up
and are priced at 4000 euros a year (Vela & Vela) In the last quarter of year three an exta
investmont has to be made to export the service to North America and set up a
headquarters in Atlanta. For this expansion a budget of 200000 euros has been added to
the last quarter of the liquiditybudget of year 3.
Rent
Besides this an officespace needs to be rented and in-house server space is required to
keep data safe and manageable. Owning a server is priced between 5000 and 20000 euros
a year (Forbes,2023) and is a huge investment, This does give the company an additional
source of income as time goes on. An officespace has to be rented. The location for this
first office is going to be in Tilburg, the Netherlands and research has found that an
officespace will cost around 2000 euros a month according to Ventu (Ventu, 2022). These
prices are all indications in which a high average was chosen to ensure that the investment
will always keep the liquiditybudget out of dept. At the start of year 4 a new headquarters
will open in North America, this means that in the last quarter of year 3 a lot of new
personnel and a new office and more serverspace has to be aquired to reach these goals.

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The rent for a 20 person office has been set on 4.106,54 euros a month, a new server
also has to be installed to reach a fast enough working serverspeed and thus increase the
overal experience users have. A 20 person office should be big enough to hold 10
employees and a serverroom. The costs for the server are again listed on 20000 euros a
year resulting in a total cost increase per month of 5772,68 euros.
Personnel
personnel are required to set up advertising, financial support and product maintenance.
The size of the team is considered to grow based on the area that has access to “Local B”
and the amount of users. In a start-up phase a company usually consists of less than 8
people (Van Nol,2023) With an average montly income of 3086 euros (Cvster, 2023). Hiring
a webmaster is priced at 6000 euros a month (Forbes, 2023). To keep the financial overview
valid the most expensive outcomes of the research are used to make the financial report.
With this worst case scenario the margin of error will be positive, thus increasing the
revenue for potential investors.
Based on the research the loancosts consist of 331.224,- euros a year or 27.602 euros a
month for the first year. In the second year it is expected to grow from 8 to 10 people,
increasing the wagecosts by 8172 euros a month.
In year 3 the loancosts will stay the same untill the last quarter of the year, with the
expansion to North America the amount of staff doubling is a must. Loans in the U.S. vary
from those in Europe. An North American Webmaster costs an estimate of 55.000 euros
(How Much do Webmasters Cost - Webmaster Support Service, 2019) The average income
in Atlanta is 33.404,49 Euros a year. This translates to 2.783,67 per person per month. In
total the 10 extra coworkers cost 29.630,33 euros a month. These costs are added in the
last quarter of year 3.
Marketing
Marketingwise a good goal is to use 30% of the expected income as marketing budget in
the growing/startup stage, This would lead to 30% of 784,929 euros. The indication for the
income is given underneath. In the second year and third year the marketingcosts will
increase based on the total income of these years. This means that within the sheets of
the liquiditybudget the price of the marketing per month will be based on this formula
(income year x * 0,3)/12 = € In the second year this increase in
marketingcosts will take place from March since the liquidity would otherwise turn negative

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and solo travel is not conducted as much in europe during the winter months.
(girlabouttheglobe,2021) For the start of year 4 the product has to be launched in North
America.
Income
Research has shown that 193 million people travel in Europe each year, with the rise of
solo travel 23% of this is solo travel (Alldashi,2023). This results in a potential market of
44.390000 potential users of the app. We expect to get 5% of these people as users within
the first year, this results in a total of 2.219.500 users. The average income on
advertisements by 1M montlhy views is around 25000 euros a month This leads to a
monthly income of 55.475 euros. (Team & Berrena, 2023) Besides this we expect to sell
100.000 solo travel trips and tours through our contracters which at a commision of 2
euros per trip leads to another 200.000 euros of yearly income. This is another monthly
income of 12.667 euros. At last there is the income out of personalisation options and
brand deals within the app, we expect these to only be used by a small percentage of the
userbase. With the premium personalization priced at 2.99 euros and only 5% of the
userbase buying in app (In-App Purchases - Business of Apps, 2023) this will lead to a
revenue of 332.925 euros per year. This is 27.743,75 euros per month. This means that all
the revenuestreams combined lead to an estimated income of 1.198.625 euros yearly if
there was not a slow growth in users. In the liquidity model the top row consists of
a %percentage of the solo travelling population that is using the app. By using the
percentage of users and the yearly income the montly income per percentage of users is
19.977,16 euros.
Based on 2219500 users or 5%
Of solo travellers
Income per
month €
Per year
€
Percentage of total
income
Advertising 55.475 665.700 55%
Premium 27.743,75 332.925 28%
Commision 16.667 200.000 17%

27
Investmentplan
To keep the liquidity above 0 an investment of 750000 euros is required. This is based on
all the costs and the income that has been described above. The current rentpercentage
on a large businessloan is priced at a maximum of 8,5% (Rente bij zakelijke leningen, 2022).
After inserting all the costs and the predicted revenue in the financial model a variety of
loans has been put in under the “investment” tab which due to all of the calculations led
to a negative cash balance, to keep the cash balance in a relatively healthy state during
the start up fase of three years it was found out that the investment had to be this high.
After three years the full loan will have been paid. This means that from the moment the
app launches in North America in year 4, the tab “loancosts”will dissapear from the
liquiditytab and thus increase the revenue by 22.604,17 euros a month. The app itself start
generating a profit from a 5% userbase. This translates to 2.219.500 monthly users during
the loan period. When the loanphase is over the app would make a revenue from 4% or
1.775.600 monthly users in Europe. We believe that with the current liquidity and
investmentplan a Bank would have interest in supplying us with a loan against the
maximum 8,5% loancost or against a lower loancost if we hand over a part of the stocks.
Operating budget

28
Company legal form and legal issues
1. Jurisdiction
While launching the app in an international market, the company should be sure that the
product is complied with local laws. Get a lawyer who can help with the legal work
before managing and distributing the app abroad. It will not make any confusion related
to the laws of the abroad countries that the app would be working.
2. Confidentiality Agreement for Business Idea
Sign a confidentiality agreement, not to expose the business idea to stealing and
competition. A non-disclosure agreement (NDA) is considered the most familiar way to
protect the product and maintain confidentiality. It does not guarantee the whole
business idea, but it will help to take legal action when someone violates the contract.
3. Intellectual Property Rights to Prevent the business from Copycats
App content, code and design should be ensure that it’s our company’s property rights,
not belonging to the people who create the product. Trademarks, copyrights, and
patents can be the three methods to assign intellectual property rights. Copyright would
protect the app’s content, source code and design. The company can trademark the app
name, slogan, brand name, and logo. If the company is running internationally, it can
adopt global brand protection strategies that help to protect from any infringers in the
target countries.
4. A Privacy Policy
If the company collects users’ personal information, it has a responsibility to include a
privacy policy, be transparent with users about what data the company may access and
why it’s needed. The company should assure people that they protect people’s personal
information and keep it secure. In case of a child under 13 is using the app, the company
should pay particular attention to the requirements of ’Children’s Online Privacy
Protection Act’. Should upload the privacy policy and obtain parent’s agreement before
dealing with children’s personal data. Also, the company should ensure that the app
complies with the European Union’s General Data Protection Regulation. Additionally,
other international and local data protection laws, requirements, legal guidelines, and
regulations too. Look for the ’App Store legal guidelines’, content about ‘Protecting the
User’s Privacy’ and ‘Google’s Privacy Policy Guidance’.

29
5. The Right App Legals
When the company prepares the app for release on the App Store or Google Play
Market, it must agree to their terms and conditions. Should set the company’s rules that
users must agree and follow to download and use the mobile app. Must create the right
disclaimer essentially. Plus, if the advertisement is included in the app, the company
should ensure that the content complies with the laws of the country which the contents
are making advertising, marketing, and promotion.(OpenGeeksLab)
Introduction and planning (an extensive planning for the first year)

30
- Build the app
Business starts by building the app. We should have a structure for building the app like
the location of each part for users to access and use the app practically. The concept of
design and color for the app would be decided too.
- Contact travel agencies for the professional guide
Make a list of the travel agencies which professional guides are working in. Search for
their tour concept, tour plan and review as well if it exists. Pick some agencies or
individuals that can have a contract with our company. Contact and explain the
brokerage system and the amount of fee which they can take. Explain about how our
app runs and the process of the contact to professional guides from users.
- Contracts for discount
Search for the accommodation and airlines which exist in Europe. For the
accommodation, we should search separately by the country, and even the city. And the
airline, focus on the most famous and high coefficient of utilization between travelers.
Discuss how much discounts can the users of our app get by connecting to the
advertisement of our partner company. Set the discount rate for the coupon as well as
the commission fee betwwen our company and the partner. Additionally, discuss for the
advertisement’s type, how will it look like, what content would be included to the
advertisement, for which page it would be link when the users connect the
advertisement through our app.
- Contact brands for the decoration of the avatar
Pick some brands which have positive management philosophy and image to citizens. Or
a rising and beginning brand that wants to spread their business to the world. Contact
each brand and discuss which clothes they can apply to the avatar. The design of the
cloth should be selected as well.

31
- GPS, automatic translation
Prepare for the technical system to adapt the gps and automatic translation service for
chat in our app.
- Beta version
- Live experience activation?
Before launching our app, we should try to make a beta version of the app to check if
it’s well organized and working well. Also, we will utilize the service for example in France
Paris(densely populated area) and based on the appearance of people experiencing the
service, will make a video and use it for marketing. By doing this, we can find out which
part we should complement and get rid of for the app users.
- Data for the solo travelers and locals
We should collect data about the solo travelers. The development of the solo traveler’s
figure. Preference about the country, city, place, entertaining things etc. Also, the period
which travelers most travel. For locals, how many people are willing to meet solo
travelers, how many of them are interested in meeting culture. Which type of people can
be a suitable person as our ‘local’.
- Legal issue
Before launching, we should pay attention to the legal issues and laws which the
company should keep in mind while running the business. Be prepared for the legal
matters that can happen in the future.

32
Summary and conclusion
The demand for solo travel has become increasing in recent years. People want to meet
local people and have unique and memorable experiences, not just visit tourist attractions.
They can live the real local way of life and connect with various local cultures, customs,
and traditions.
But we could find the solo travelers’ problems based on our research or interactions with
the user. There is too much information on the Internet, so travelers had to spend time on
searching, planning, and booking for traveling. It is hard to find correct and important
information. Also, there was an emotional problem because they had to spend the whole
time alone while traveling around the world.
Based on these pains, we came up with ‘Local B’. Local B connects solo travelers with
locals or other like-minded travelers. Our aim is to make a world where solo travel is
accessible and enjoyable for everyone, and we designed features for solo travelers seeking
meaningful connections and experiences. Users can test their own travel preference in the
app and create their profile by using it, and they can create their own cute avatars. By
using this feature, Local B makes it easy to connect with like-minded travelers and share
information. Local B also helps travelers navigate through GPS service. We will focus on
making them to have an immediate and easy conversation.
We are expecting that Local B can be a vehicle for connecting people to meet in reality
and enjoy the memorable time by experiencing new people and culture. Local B exists to
connect the whole world finally.

34
Sources
Janeen Christoff. 2022. More Travelers are going solo in 2022.
https://www.travelpulse.com/news/features/more-travelers-are-going-solo-in-2022.html
Selene Brophy. 2023. Tour Operators Up Offerings for Solo Travelers.
https://skift.com/2023/01/17/tour-operators-up-offerings-for-solo-travelers/
Kayak. 2022. Travel Trends for 2023. https://www.kayak.com/news/travel-trends-2023/
Skyscanner. 2022. Travel Trends 2023: The year of price-driven decisions
https://www.skyscanner.net/news/travel-trends
OkCredit. 2021. How To Decide Your Advertising Model Of The Business?.
https://okcredit.com/blog/how-to-decide-advertising-model-of-business/
C. (2021). What is Brokerage Model? Is It Helpful for e-Commerce Businesses. ALLEN
klipinterest. https://www.klipinterest.com/what-is-brokerage-model-is-it-helpful-for-e-
commerce-businesses/
John Spacey. 2019. 26 Examples of a Service Model. 26 Examples of a Service Model -
Simplicable
OpenGeeksLab. Top 7 Legal Issues To Consider In Mobile App Development. Top 7 Legal
Issues To Consider In Mobile App Development (opengeekslab.com)
Alldashi, L. (2023, 25 januari). 30+ Solo Travel Statistics and Facts [2023]. Passport Photo
Online. https://passport-photo.online/blog/solo-travel-statistics/
How Much do Webmasters Cost - Webmaster Support Service. (2019, 25 april). Webmaster
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How Much Should I Budget for Marketing? (z.d.-a). BrightEdge.
https://www.brightedge.com/glossary/define-marketing-budgets
In-App Purchases - Business of Apps. (2023, 19 januari). Business of Apps.
https://www.businessofapps.com/guide/in-app-
purchases/#:~:text=In%2Dapp%20purchases%20account%20for,37.8%25%20from%20paid
%20app%20downloads.
Leonard, K. (2023, 6 maart). How Much Does A Website Cost? (2023 Guide). Forbes Advisor.

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https://www.forbes.com/advisor/business/software/how-much-does-a-website-cost/
Rente bij zakelijke leningen → Info over rentepercentages. (2022, 29 april). Creddo NL.
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lening/rente/#:~:text=De%20zakelijke%20rente%20voor%20een,marktrente%2C%20het%2
0risicoprofiel%20en%20onderpand.
Spdload. (2020, 2 april). Salary Calculator. SpdLoad. https://spdload.com/startup-
resources/startup-salary-calculator/
Team, P. T., & Berrena, A. (2023a, januari 23). How Much Ad Revenue Can a Website Make?
This email is considered confidential and meant for the recipient only, if you would not
like us to reach out to you please feel free to change your preferences so we can better
assist you. https://www.playwire.com/blog/how-much-ad-revenue-can-a-website-
Team, P. T., & Berrena, A. (2023b, januari 23). How Much Ad Revenue Can a Website Make?
This email is considered confidential and meant for the recipient only, if you would not
like us to reach out to you please feel free to change your preferences so we can better
assist you. https://www.playwire.com/blog/how-much-ad-revenue-can-a-website-
make#:~:text=In%20general%20websites%20earn%20ad,views%3A%20%242%2C500%20
%2D%2025%2C000%20per%20month
Van Nol, B. (2023, 8 februari). De vijf groeifasen van elk bedrijf - ScaleUp Company. ScaleUp
Company. https://scaleupcompany.com/groeifasen-
bedrijf/#:~:text=Groeifase%201%20%E2%80%93%20de%20startup%20fase%20(minder%2
0dan%208%20medewerkers)&text=In%20de%20pioniersfase%20toon%20je,Alles%20draai
t%20om%20je%20klanten.
Vela, K., & Vela, K. (2019, 9 april). Startup Cents: Planning For Your First Year Of Legal Fees
| Dallas Business Lawyer | Vela Wood. Dallas Business Lawyer | Vela Wood | Vela Wood is
a boutique corporate law firm in Dallas and Austin that focuses our practice in the areas
of M&A, Private Equity, Fund Representation, and Venture Transactions.
https://velawood.com/what-to-expect-in-legal-fees/
Wat verdienen we eigenlijk? Het gemiddeld salaris in Nederland. (2023, 31 januari).
CVster.nl. https://cvster.nl/blog/gemiddeld-salaris-
nederland#:~:text=Het%20gemiddelde%20inkomen%20van%20alle%20inwoners%20met%
20een%20inkomen%20was,gemiddeld%20%E2%82%AC%2070.000%20per%20jaar.

36
Evaluation (Reflection)
<Sjeng>
Business model Innovation is a course that positively surprised me. Coming from a
technical background I have always thought concept-based courses where not my forte
but I am pleasantly surprised with the result. It was interesting to work with two girls who
have a completely different cultural background than me. The language and cultural barrier
got a lot of laughs and made it harder to understand eachother, but I feel like we managed
it like a team. Starting with something as small as picking a topic we found out there
where not a lot of common grounds. This was eventually found in travelling. With all of us
being solo travellers we had a lot of personal insights in the pains and gains for this group.
The different backgrounds had no negative impact on the group assignment and working
together actually felt like working with two unfamiliar dutch people. We chatted a lot about
cultures and obviously had a lot of questions about each other’s way of life. Getting back
at the class I have gotten a lot of insights in new startups and why they succeed. As
someone who wants to start their own brand later these new insights in why certain
companies succeed and others do not. Even though the use of the business model canvas
is also available in the CE-IEMES cases an indept overview and the given literature helped
me to understand it the theory and the why of it way better. Two of the most interesting
take aways where about the revenuestreams and the way companies position themselves
so they have multiple target audiences. These will definitely be used in my upcoming
projects.
<Gyeongmin Kim>
We made plans in this process that are more specific and feasible than I expected. I shared
all my thoughts with my group members from setting the topic of the business model. We
designed the business using various models and tools learned in class, collected the
necessary data, and analyzed them. Also, we made a detailed plan on a yearly basis for
marketing strategies and financial plans. This process helped me think of business models
in very practical and professional ways. I’ve thought theoretical management terms and
marketing strategies were boring while taking business administration classes so far. But
now I think it is essential to learn and understand clear concepts because it was practical
to create the business model. I really enjoyed learning the business canvas, patterns, and
strategies through varied brand examples. I also learned how to mix and match, breaking

37
away from the stereotype that an idea must be something new that was never in the world.
The concept of sharing is memorable as well. All businesses in the future will be focused
on ‘sharing’. I’ve only thought of business as a means to generate revenue. However,
through this process, I felt that ‘sharing’ would be the most important value in the future
creative industry. Starting with sharing small things around me in my daily life, I want to
share my various thoughts and values in the future.
<Yoojin Kim>
While working on business model innovation class, it was interesting to build a new
business with the issue that all our group members are interested in. Having a lecture
how the business model canvas looks like, how does the empathy map look like and by
making the value proposition canvas, finding out each one’s pain and gain was a
meaningful part for me to think about the specific group’s need in detail. By doing this
process I tried to look their like and favor and thought this process is mandatory and
important while building a business. Targeting a group and trying to solve the pain
would be the key point in business. Business should solve the people’s pain, seek for
their gain and while doing this we should also think how we could earn money by it. We
can simply say that ‘Let’s make a commission fee by advertising some company’s
business’. However, I thought it would be more complicated and should put lots of time
and effort in reality. By building the business’s first year plan, we said that to search for
some companies that wants to have a partnership with us and advertise their business in
our app. In this situation, both company’s needs should be fit, so that both of us can get
a profit for this contract. And thought that at the starting point of the business, it’s not
that easy to make a relationship with other companies because we are also at the
starting point. Building an interesting point of the business concept is also quite
important to have a partnership and make our business to grow and develop.
Additionally, making a partnership with another growing company would be also a good
starting if it works well. To sum up, planning a business and running in reality would be a
lot of work but thought that a simple idea and concept can be made into a well business
too.

38
Individual excercises
1. Utopia
<Sjeng>
Green world
Politics
The ideal world is a tech driven world in which there is place for everyone. Countries will have
united after figuring out nationalism and chauvinism. This leads to one integrated system with as
primary goal the continuation of the human race on earth. There will still be enough variety in
culture and speech, but with the uprise of AI people will be able to communicate in their native
language with eachother and thus forming a closer connection with eachother. In this Utopia we
will not have gotten here by global environmental disasters. Politics will be based on a global
constitution which we all obey and which gives a lot of freedom to people to do what they want.
Money
Moneywise people will have to pay by their geological footprint, to keep the world getting
consumed by our consumer-based spending which we do now, in 2023. With most jobs getting
done by robots and AI. People have more time to get creative and express themselves and eachother
in a lot of different ways. By making the earth greener we will all benefit from the bigger wallet we
we will have each year. The greener the planet, the bigger our footprint per person can be and thus
the larger our “income”. This is all going to be a balancing act.
Culture
Cultures from all over the world will stay intact and be celebrated. With the constant globalization
this will be a challenge and requires constant care. The civilization should at this point be automated
so far that one of our main goals is to make sure people are enjoying their time on planet earth.
Thus cultural expression is one of the main sources for this. Just as is happening now, there is
going to be a cohesive development ongoing with technical and cultural advancements combined.
These advancements are all connected to the Green world. So they should reduce the global
footprint.
Environment
Everything stated above has been thought of with the environment behind. It is my true believe

39
that we can only survive if we get in line with other species and give them the resources to restore
their balance. This would mean the earth would be restructured to contain more forests and natural
reserves. There would be a lot of solar panels, and wind turbines and farmland will be created on
the side of buildings and skyscrapers. These are all trends that the world has started with already
and I feel like these are steps into the right direction. The big problem is that most of modern-day
society does not see the urgence of implementing these huge changes.
Politics
All politics will be conducted on a global scale to ensure the fairness and similar treatment. With
nations gone and everyone being an earthling instead of a chauvinist or nationalist. I believe this
will be necessary to stop modern day war and projectile human race into a state where war is
unnecessary since everything is shared equally, and law and resources are conducted in a human
matter. Local authorities would still be in place but all under supervision of a higher placed
worldwide politic system.
<Gyeongmin Kim>
Utopia with Love & Peace
For LOVE
1. Can we make money only in big cities?
In many cases, it is a structure that we can economically independent and successful only
when we enter large cities. Seoul city is a case in point. If you don’t live in Seoul or a
nearby city wherever you can commute, it is impossible to be accepted as a successful
life. People living in suburb must go into Seoul city even if they want to live with their
family. It’s too bad that you can find a job, get a house, live a literally full life only if you
go out to big cities. We have to change the economic structure that is concentrated in
big cities for money without love. We need something new that can contribute to the
revitalization of the local economy, such as establishing local jobs.
2. Can we change our occupation culture?
I was surprised at the foreign occupation culture. Many foreigners have more than one
job. Professor John is also working in the music industry while working as a professor at
Fontys. In my country, it is difficult to do what you love and achieve your ultimate goal
because you are too busy focusing on one job and one company. It’s not even easy to

40
enjoy your hobbies after work. I think the thought that working for a great big company
for a long time and being promoted is a professional success is too outdated. It is
necessary to emulate other countries’ example. It would be better to have an occupation
culture for ‘what you love’ than a occupation culture for ‘making money’. For this, it will
be important to keep time strictly for your time, and I hope to reduce working hours and
working days.
For PEACE
1. What is the right way to recycle for the environment?
No country seems to have found the answer to recycling. First of all, the separating
methods in Korea and the Netherlands are quite different. In Korea, there is a collection
place for all apartment buildings, where plastic, paper, glasses are classified, and the
government collects them once a week. At this time, many problems occur because
people don’t separate clearly. On the other hand, in the case of the Netherlands, if
people separate garbage from each house first, the government collects the separated
garbage. But I also felt it is little cumbersome. I think we need a new method for
complete recycling. Also, I think policies such as collecting empty bottles at mart.
2. Why don’t we try new policies to save energy?
I haven’t compared it to other countries, but Korea’s electricity bill and heating bill seem
too expensive. If there is an energy policy that gives discounts when energy usage
decreases compared to the previous month, it will be very helpful for the environment.
Also, in Korea, most people have their own cars. The environmental pollution caused by
it would be unimaginable. Also, parking difficulties are also serious in Seoul. Whenever I
go to university, I imagine hitchhiking someone’s car going to the same destination.
What if a hitchhiking system similar to a shared car is established in big cities?
<Yoojin Kim>
<Attitude is the most important to make a utopia world>
Money: As a citizen lived in capitalism country and have a great propensity to consume
among people, I cannot easily say that a country which all the people are having similar
amount of money would make the country better and people happier to live in. Of course,

41
if there’s a gap between rich and poor is big, then there would happen a lot of social
problems like relative deprivation and severe competition. But still the capitalism should
be needed to make the country to develop and have a position in the world. However,
people’s way of thinking should not be selfish and hierarchical. People should know how
to live together with other people, help each other and be concerned to second-class
citizen as the aspect of economical thing too. Should have intention to be together with
them in the society. Excessive showing off and the attitude to divide people into classes
by money is strange. People should discard an opinion that one is in dominant position
by money.
Culture: My ideal world would be full of the attitude of ‘accepting’ except for some
immoral things. It’s difficult to define the ‘immoral thing’ but for example I thought ‘honor
killing’. Last weekend, I visited Amsterdam’s red light street and actually the street was
unfamiliar with me. I was born and lived in a conservative country so I felt the culture gap
for it. However, in here, I know it’s legal and it’s regarded as a job so I cannot blame or
criticize of the place. Still I cannot completely understand everything related to that culture
but have an attitude to accept it and try to understand. So if people try to narrow the
culture gap and treat each culture as a unique one then it’s an utopia for culture I think.
Environment: It would be a place where all of the people are take caring for it or at least
the country is making the right laws or system for citizens to follow. Simply, ‘separate
collection’ can be. Throwing away the plastic, vinyl, paper, rest, organics all separately and
make some trash to be recycled would be helpful for the environment. Also, each
government, company, individual are trying to deal well to the environmental problem
then it’s ideal. Government should make a strict rule and law to protect the environment.
Company running a business which is helpful to environment or help the environment
using the income for their business. Citizens keep in mind to protect the environment by
pursuing some eco friendly business or buying some organic things to make their life itself
eco-friendly. People can use environment by their hand without any permission by it, so
therefore people should be more conscious of the problems happening to the nature and
always try not to waste it cause It’s not infinite.
Energy & Politics: It is a world which are trying to save and develop the energy. The
country should figure out which energy can be made by the country. For example, Korea
can develop solar energy and Netherland can develop wind energy. Also, citizens should
know the way how to protect and save the energy also should know the reason why they

42
should save it. Energy links to lots of problems like environment and if people use it
thoughtlessly it may cause a disaster.
For politics, the politicians should work disinterestedly. Now Turkiye is in a disaster due
to the earthquake and I don’t know if it’s a fake news, but there is a city which have less
damage. It was because the building was constructed in a strict criterion controlled by that
city’s mayor. It’s a case that one people’s great decision made numerous people to survive
in a disaster. Like this politics should be done by great and disinterestedly people, I’m not
taking about the difference between some political ideas, but just the attitude for doing
politics is important I think.
2. Business Canvas Model (GOBOONY)
<Sjeng>
<Gyeongmin Kim>

43
<Yoojin Kim>
Goboony
Key Partners Key
Resources
Key Activities Cost Structure Revenue
Streams
- Individuals
who owns
caravan
- Traveling
agency/compa
ny
Caravan Well
connection/comm
unication
between owner
and user
- Marketing
- Employee for
the
management(CS
etc.)
- Commision
fee from
advertising
- Commision
fee from the
caravan owner
Channels Offer Customer
Relationships
Customer Segments
- website
- app
Users Online
community
- People who want to travel around
by caravan
- People who want to experience a
different kind of caravan by lending
it

44
Small Research for the business
<Sjeng>
https://solotravelerworld.com/about/solo-travel-statistics-data/
- Solo travel is a trend after corona.
- - Promotes self-knowledge
- Being forced to spend a prolonged ‘alone time’ can be particularly challenging,
especially when lockdowns and social curbs are in place, but it also promotes self-
knowledge and has the power to drastically alter one’s perception of ‘quality time’.
After all, we don’t need to be around our friends, family, or loved ones all the time
to fully enjoy ourselves.
- - Responsibility
- With this comes a huge amount of individualism and responsibility for own well
being
- - No tax payment as a nomad
- Due to the opening of the world and places such as Bali not getting taxes from
foreigners the first 5 years even European countries have let go of their strict
immigration laws. Countries such as Croatia don’t get taxes from immigrants the
first 2 years.
- - The rise of travel blogs
- Travel blogs and social media have played a huge role in showing th world to
young adventures people and the stories that are written in blogs challenge them
do go on their own adventure. Describing it as the journey of a lifetime people
get enthusiastic.
-
- According to Skyscanner 54% of travelers indicated to want to travel alone this
year.
- (2022) Google searches for solo travel since April 2020 quadrupled to a new high
this month, with demand evident across all age groups. Not only millennial
backpackers but solo travellers of all ages joining small tour groups, forcing the
travel industry to think differently about this fast-growing travel trend. Source

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-
<Gyeongmin Kim>
*I think there will be type of alone, with friends, lovers, and family.
*Also, there must be a travel preference (budget, planned or spontaneous, type of
accommodation, restaurants.. etc.)
*examples
1. Tripbuddy
- A meeting service for solo travelers who look for buddies (handing over cards like Tinder)
- you can ask someone who has the similar travel preferences to travel with you.
- It seems to be mainly used in Korea. (But not usual) and it seems to be used as a daily
dating app rather than traveling.
- Accompanying trust system (cell phone authentication, photo registration etc.)
—> It would be good to make a test that can check my travel preferences for matching.
Also, It would be great to introduce GPS service that can be found on the spot even if you
don’t have a travel plan.
2. Join My Trip
https://www.joinmytrip.com/en/find-travel-buddy
- Looking for partners focusing on travel destinations.

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- there are the exact destination and date of the trip. It’s more like looking for a partner
on a package tour than a companion.
- Also, they are advertising related to themes such as home office travel, rafting travel, and
sailing.
—> I think funding system would be nice! If many people gather, the group can get
discounts from airline or agency promotions.
3. Workaway.info
https://www.workaway.info/
- a service which find the host (not a travel buddy)
- It also includes matching for language exchange, cultural exchange, learning, working
holidays, and volunteering.. (Not only travel!)
- It runs blog, communities, and Ambassadors.
<Yoojin Kim>
Similar business model
1. (ToursByLocals, WithLocals, FreeTours, AirBnB Experiences, ShowAround,
Traveling Spoon, Embark, City Unscripted, Couchsurfing)
- List of application for the trip guidance by local
9 of the Best Apps and Sites for Finding Local Tours and Guides
(toomanyadapters.com)
2. Roadtrippers
- Can plan the road trip
- Powerful route planner includes instant fuel cost estimation and a function
to explore places within a set distance from the traveler’s route(places,
restaurants, hotels etc).
Roadtrippers | Road Trip Planner — Plan Your Next Adventure

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*List of application for the trip guidance
Research for target group
Solo Travel Statistics: 2022 Guide
“Back in April 2016, the monthly search volume for ‘solo travel’ was 2,175, this increased
by 96% to 4,260 in 2019. Searches for this keyword dropped in 2020 due to the COVID-
19 pandemic putting limits on travel, but they have since risen back up to 6,559 in April
2022, a 201% increase from the 2016 figure.”
“In the United States, 16% of people have taken a vacation by themselves, and 25% said
they were thinking of taking a solo trip in the future. This means over 53 million
Americans have taken a solo vacation already, and a further 83 million are planning to
do so.[2]
”
Solo Travel Statistics 2022 Guide | Radical Storage
Solo Travel Statistics: 2020-2021
:Top destinations, Where are the best places to travel solo?

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“53% hope to engage with locals away from the busy tourist spots.”
“50% of female travelers choose Europe as a safer destination to travel alone.”
“54% of British females are more likely to travel alone than they were five years ago.”
70+ Solo Travel Statistics & Industry Data (2020-2021) (condorferries.co.uk)
“In 2021, Google Trends revealed that ‘solo travel’ has grown by over 761%, showing a
keen interest in taking trips alone.”
60+ Solo Travel Statistics (Latest 2023 Figures) (dreambigtravelfarblog.com)

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