Slovakia Business Plan

Published: 2021-07-06 06:24:38
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Category: Business and Finance

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What type of company do you intend to establish, why? I intend to establish a company that will provide individual and group travel which would be convenient for clients (Kasagranda et al., 2016). Travelling and exploring the world or the country or city is the new trend in town, now people use to spend their free time exploring how beautiful our world is. My company will provide our customers with quality services that they had never experienced before.In which country/city? Why?Slovakia is a country in Central Europe, where people have high standards of living. It has many beautiful places one would love to visit (Borsekova et al., 2017). Slovakia is a country with Historical Architecture, Magical Castles, High peak mountains and tasty food.Which type of product or service do you intend to offer?The products and services of my company include travel consultations, pre-arranged tours along with custom packages according to the client specification (Nunkoo, 2016). How much initial capital you will allocate? Give detailed figures/quantities for every item?Initial start-up expenses would be of 100,000 Euros which includes legal costs, licensing cost, business plan compilation along with two Mercedes Benz Minivans. Other expenses related to Rent, insurance, stationery etc would cost 5,000 Euros. How many and what kind of staff will you employ?Human resource is a backbone of every company. As the company is new so personnel would be not more than 10 to 12 employees which include (accountant, sales & marketing, tour guide, driver, personal assistant, cleaner, mechanic, watchman etc). Total payroll cost will not exceed 10,000 Euros per month for the first year (Hartmann, 2016). Payroll cost will increase on annual basis, once company builds its reputation in the market, the workload will also increase which will result in more personal. For the company to grow it will take some time, this is not possible that company will make profits from day one (Jasimmudin, 2016).What type publicity will you undertake in order to attract business to your company? And how much will you allocate to it?Social media will be used to attract business towards the company. Use of Instagram, Facebook along with the use of ads that will pop up whenever someone visits a particular website will help the company to let locals know about what company has to offer to them (Gerbuado, 2018 | Gregoire et al., 2015). Use of billboards, brochure and panaflexes will also be useful. For publicity, an estimate of 10,000 Euros will be allocated.ReferencesBorseková, K., Vaňová, A. and Vitálišová, K., 2017. Smart specialization for smart spatial development: innovative strategies for building competitive advantages in tourism in Slovakia. Socio-Economic Planning Sciences, 58, pp.39-50. Gerbaudo, P., 2018. Tweets and the streets: Social media and contemporary activism. Pluto Press. Grégoire, Y., Salle, A. and Tripp, T.M., 2015. Managing social media crises with your customers: The good, the bad, and the ugly. Business Horizons, 58(2), pp.173-182. Hartmann, P.M., Zaki, M., Feldmann, N. and Neely, A., 2016. Capturing value from big data–a taxonomy of data-driven business models used by start-up firms. International Journal of Operations & Production Management, 36(10), pp.1382-1406. Jasimuddin, S.M. and Maniruzzaman, M., 2016. Resource nationalism spectre hovers over the oil industry: The transnational corporate strategy to tackle resource nationalism risks. Journal of Applied Business Research, 32(2), p.387. Kasagranda, A., Rajčáková, E. and Vystoupil, J., 2016. Urban tourism in Slovakia: Its quantification, spatial differentiation and typification. Geographica Pannonica, 20(2), pp.114-126. Nunkoo, R., Ramkissoon, H. and Juwaheer, T.D., 2016. Travellers’ Intent to Purchase Tourism Products and Services Online.

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