Simple Business Plan for Travels and Tours Agency Business in Nigeria

Simple Business Plan for Travels and Tours Agency Business in Nigeria

Simple Business plan for Travels  and Tours Agency business in Nigeria – Doing travels and tours business involves overview of travel tour agency business plan samples, travel agency business proposal letter, travels and tours  agency marketing plan, sample business proposal for travel agency and online travel agency business plan. These are universal travel and tours agency business standards applicable in many countries of the world.

In this connection, are you thinking about starting a travel and tour agency business now or in future whether online or conventional ? If your answer is YES, then, here is a simple travels and tours agency business plan template you can adapt.

But before we go on to produce the business plan proper, you have to take care of your business start-up processes. 

  • The first step is to legalise your business by registering it with the Corporate Affairs Commission. This is simple, contact us on cfmclimited@gmail.com and your certificate of incorporation will be ready in 5 days time.
  • Another step you will take is to  consider the location of your business. Among the big towns in Nigeria, you have to choose where to operate. As a beginner, you have to choose where you can make inroads easily.
  • Again, have you decided on your capital outlay? How much do you need for this business? What are the sources of the capital? 
  • Connected to the above is the scope of your operation. Have you decided what and what operations you will be carrying on in this business. You may need “A comprehensive business Concept Note” which we can also do for you, if you contact us.
  • Lastly, determine your financial variables. What are your dreams about your turnover, Capital Expenditure (CAPEX), Operating Expenditure (OPEX), Projected Income Statement etc 
Let’s go on with the Business Plan proper, starting with the usual thing, “ Executive Summary”  Simple Business plan for Travels  and Tours Agency business in Nigeria


Simple Business Plan for Travels and Tours Agency Business in Nigeria

Simple Business Plan for Travels and Tours Agency Business in Nigeria

 Executive Summary

Waka-About Travels and Tours Ltd is a travels and tours agency business  registered in Nigeria in accordance with the relevant laws of the country under Corporate Affairs Commission with a registration number – RC 200010.  The company will be located in Abuja the federal capital territory. Waka-About Travels and Tours Ltd plans to  handle all aspect of travels and tours related business These are services such as booking for flight tickets, securing transit visas, booking for shuttle buses and taxi cabs, car hire, hotel bookings etc. It also plans to render other travels and tours ancillary services  such as selling of traveling related insurance policy cover, sale of travel guide books and through the sale of foreign currencies.

Aware of the complications involved in all  round travel and tour agency business, we have taking time to hire only  well trained and equipped  professionals who can perform excellently well.

Waka-About Travels and Tours Ltd is a client-focused and result driven travels and tours agency. In that, it will ensure that it provides broad-based services at an affordable fee that won’t in any way put a hole in the pocket of our clients. Weare set to render standard and professional travels and tours services to all of our individual clients, and corporate clients at local, state, national, and international levels. This is to  ensure that we  meet and surpass our clients’ expectations whenever they hire our services.

At Waka-About Travels and Tours Ltd, our client’s best interest would always come first. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s  precise needs and completely. 

We plan  to position the business to become the leading brand in the travels and tours line of business in the whole of Abuja, and also to be amongst the top 30 travels and tours agencies in Nigeria  in the next 10 years of our  operations.

The business projection shows that turnover generated in three years will be as follows:

First year                                               =  N49,500,000
Second year                                          = N115, 500,000
Third year                                              = N247,500.00

It’s estimated that 20% of the turnover will be the gross profit, thus generating gross profit of 
N9,900,000, N23,100,000 and N49,500,000 for first, second and third year respectively.

The Purpose of this Business Plan:

Simple Business plan for Travels  and Tours Agency business in Nigeria. The purpose of this business plan is two fold.

Firstly is to raise N1,000,000 from bank to augment N4,000,000 already generated by the promoters of the business through personal savings and soft loan from family members. The N5,000,000 needed for the business start-up is be spent as follows:

Fixed Assets and Pre-operational expenses = N4,050,000
Working capital                                            = N950,000

The second  purpose of this business plan is to chart a road map for the operations of  Waka-About Travels and Tours Ltd. It’s therefore, a management tool, aimed at reaching our  would be clients and collaborators. This business plan therefore, defines the scope of our business operations, detailing our operational and financial forecast for the next three years.

Simple Business Plan for Travels and Tours Agency Business in Nigeria


Our Product and Services

Waka-About Travels and Tours Ltd. is going to offer varieties of services within the scope of the travels and tours industry in Nigeria. Our intention of starting our travels and tours agency is to render travels and tours services to various travellers and tourists and their associated participants. 

We hope that by serving our clients we will be able to make profits from the industry.  We will do all that is permitted by the law in Nigeria  to achieve our business goals, aim and ambition. 

In pursuance of these, our business will be offering the following listed services;
  • Booking for flight tickets
  • Securing transit visas
  • Booking for shuttle buses  and taxi cabs
  • Car Hire services
  • Hotel bookings
  • Cruise line bookings
  • Travels and Tours consulting and advisory services,
  • Selling of traveling related insurance policy cover, 
  • Sale of travel guide books and through the sale of foreign currencies.


Our Vision Statement
Simple Business plan for Travels  and Tours Agency business in Nigeria. We have a vision to build a travels and tours agency business  that will become the  choice of    individual  and corporate clients in the whole of Nigeria and Abuja in particular. 

Our Mission Statement
Our mission is to provide efficient  travels and tours services that will assist individuals, corporate organization, non-profit organizations, government offices and agencies in organizing all of their travels and tours activities.  The aim is to be ranked among the first 30 leading travels and tours business in Nigeria in the next 10 years.

Simple Business Plan for Travels and Tours Agency Business in Nigeria

Our Business Structure And Management Team:

Waka-About Travels and Tours Ltd. plans to build a solid business structure with a formidable management team that can support the growth of the business. We will achieve this by ensuring  that we hire competent hands to help us build the business of our dream.

Waka-About Travels and Tours Ltd. intends to have a good business strutre and management team that will be made up of the following:
  • Chief Executive Officer
  • Travels and Tours Consultant
  • Admin and HR Manager
  • Marketing and Sales Executive
  • Accountant
  • Customer Care Executive / Front Desk Officer

SWOT Analysis

Waka-About Travels and Tours Ltd. had engaged the services of consultants who did a thorough research on the SWOT of the organisation revealing the following:

Waka-About Travels and Tours Ltd. plans to engage only the services of  core professionals  in her business. This will give her a well  structured travels and tours agency that can favourably compete in the highly competitive travels and tours industry.
  • In this regard, our core strength lies in the power of our team - our workforce. We are putting in place a team that can go all the way to give our clients value for their money.  A team that are trained and equipped to pay attention to details. This is our strength to attract, maintain, and  sustain our clientele.
  • The only weakness we are envisaging is that as a new travels and tours agency, it might take some time for our organization to break into the market and gain acceptance especially from corporate clients in the already saturated travels and tours industry.
  • Opportunities abound for Waka-About Travels and Tours Ltd. in this business. we are aware that there are massive  opportunities in the travels and tours industry considering the number of individuals, families and corporate organizations and government agencies who travel on a regular basis.  We are ready and well equiped  to take advantage of these  opportunity as they comes our way.
  • The threats we envisage in this business is not peculiar to Waka-About Travels and Tours Ltd. Some of the threats  are unstable  government policies, the arrival of a competitor within our location of operations since we know Abuja is a federal capital territory. Other threats include  any global economic downturn which usually affects purchasing / spending power especially in relation to fluctuations in  the foreign exchange rates.  We are however, optimistic  that things will continue to work in our favour.


Simple Business Plan for Travels and Tours Agency Business in Nigeria


The Industry Business Overview

Simple Business plan for Travels  and Tours Agency business in Nigeria. The travels and tourism industry of which travel agencies belong to is a big industry. The industry is also a profitable one. This  industry provides jobs directly and indirectly to thousands of entrepreneurs all over the globe. Such job  opportunities that are available in the industry cuts across service deliveries and product sales etc.

Statistics has it that  as at 2010, the total market size for travel agencies in the Nigeria experienced a sharp increase generating millions of Naira. Available data shows that employment of travel agents is projected to increase by 12 percent from 2014 to 2020.

For a long time now, many airline companies globally stopped payment of  commissions to travel agencies whenever they help clients book airline tickets. The  traveling agencies now resorted to  adding their commissions to the price of the tickets whenever they are selling to their clients.

One notable thing that is affecting the business is that in recent time, with the advent of the internet and with the general public accessing the Internet commonly, many airline companies have started selling their tickets directly to their target market (the travellers)  via their online portals. In the same vein  other business in the value chain of travels and tours industry  have also resorted to selling  their services via their online portal to their target markets too.

Notwithstanding, travels and tours business have continue to attract entrepreneurs and can’t be said to be saturated. It still remains a lucrative business.

MARKET ANALYSIS

Simple Business plan for Travels  and Tours Agency business in Nigeria. As noted above, a common trend in the travels and tours industry is that in recent time, with the advent of the internet and the ease with which  the general public accesses the Internet, many airline companies have started selling their tickets directly to their target market via their online portals.It'snoted also that, in the same vein  other businesses in the value chain of travels and tours industry  now directly sell their services via their online portals to their target markets too.

Notwithstanding, the travels and tours industry is in a continuous state of evolution due to ICT developments, and as such there are a lot of technological changes ongoing even in the industry. As a matter of fact, social media play a great part here. It has has now become one of the most important tools travels and tours agencies leverage on to disseminate information about their travels and tours events. It’s also used to  interact with clients, solicit feedback, and create year-round engagement with their target audience. In addition, new software apps and emerging technologies have made it easier for travel and tours agencies to gather all the needed data and information that will help them plan and project  thier future.

Simple Business Plan for Travels and Tours Agency Business in Nigeria

Our Target Market

Simple Business plan for Travels  and Tours Agency business in Nigeria. In the travels and tours business, the demographic and psychographics composition of travel agencies cuts across people from all works of life, local and international organizations.

Our target market include:
  • Individuals  and Households -  Potential Couples / Young Adults
  • Corporate organisations,  Blue Chips Companies
  • Non-profit making organisations - Religious Organizations (Pilgrimage journeys etc), Political Parties / Politicians, Schools (High Schools, Colleges and Universities), Sport Organizations
  • Government offices, agencies and personnel

Our Competitive Advantage

Simple Business plan for Travels  and Tours Agency business in Nigeria. Knowling fully well that the level of competitions in the travel agency, based on particular lines of business depends largely on the location of the business and of course the niche of the travel agency business. Because of this we are poised to  create a unique brand identity for our travel agency. This will help us eliminate certain type of competition in the business. With this special niche  we will  carve out a unique market for the business. 

We have already concluded arrangements with appropriate government agencies for the airlifting of the pilgrims  4 times in the year. This is indeed, a great competitive advantage over all other competitors.

Simple Business Plan for Travels and Tours Agency Business in Nigeria

 SALES AND MARKETING STRATEGY

There are  stiffer competitions amongst travels and tours agencies and other related service providers in Nigeria. This is why  we decided  to hire some of the best business developers to handle our sales and marketing operations.

The recruitment of our sales and marketing personnel will be based on their vast experience in the industry. They will also be retrained  on a regular basis so as to be well equipped to meet with the changing marketing strategies and to be able to meet their targets and the overall goal of the organization. 

Waka-About Travels and Tours Ltd. will  be  making use of the following marketing and sales strategies to attract clients;

  • We will be sending introductory letters alongside our brochure to corporate organizations, schools, households and key stake holders in Abuja, to start with.
  • Agian we will be adopting a prompt action towards erly bidding processes  for travels and tours contracts from the government, religious organizations and other cooperate organizations
  • Furthermore, we will be taking appropriate steps to ensure due advertisment of   our business in relevant travels and tours magazines, newspapers, TV stations, and radio station.
  • In addition, we will list our business on yellow pages ads (local directories)
  • To update our knowldge and keep abreast of technilogical changes in the industry, we will regularly be attending relevant international and local travel and tours expos, seminars, and business fairs etc.
  • We will adopt the strategy of [roper market segmentation of our target market. With this we create different packages for different category of clients in order to work with their budgets and still deliver quality services to them
  • Effors will be made to constantly leverage on the internet and various social media platforms to promote our business
  • Furthermore, our management team will be engaging on  direct marketing approaches where possible
  • And finally, at all time, we will encourage word of mouth marketing from loyal and satisfied clients


Simple Business Plan for Travels and Tours Agency Business in Nigeria

Sources of Income

Waka-About Travels and Tours Ltd  will generate income by offering the following travels and tours services for individuals and for corporate organizations;
  • Booking for flight tickets
  • Securing transit visas
  • Booking for shuttle buses and taxi cabs
  • Car hire services
  • Hotel bookings and reservations
  • Cruise line bookings and reservations
  • Travels and Tours consulting and advisory services for individuals and corporate clients
  • Selling of traveling related insurance policy covers, travel guide books and through the sale of foreign currencies.

Sales Forecast

Simple Business plan for Travels  and Tours Agency business in Nigeria. Concerning our financial variables, we have been able to critically examine the travels and tours market in Abuja.  In relations to changes in government guidelines and policies for airline operations in Abuja, we also  analyzed our chances in the industry. Based on that, we have been able to come up with the following sales forecast which are based on information gathered on the field and some  inherent assumptions that are peculiar to start-ups in Abuja. 

First Year-:      N49,500,000
Second Year-:  N115,500,000
Third Year-:    N247, 5000,000

The major assumptions in this forecast is that the exchange rate will not exceed N330/$1 for the next three years. We have also assumed that there will not be any form of natural desaster that could lead to the closure of the airports as was done in the past, when Abuja pssengers where moved to Kaduna airport.

Our Pricing Strategy

Simple Business plan for Travels  and Tours Agency business in Nigeria. The industry  norm  is that travel agencies make their money via commission they get by offering traveling related services  to clients.  Likewise,  Waka-About Travels and Tours Ltd will earn income   through  such services as booking for flight tickets, securing transit visas, booking for shuttle buses and taxi cabs, car hire, hotel bookings and reservations and cruise line bookings amongst many other services.

It will also generate incomes from selling of travel guide books, traveling related insurance policy cover, and through the sale of foreign currencies.

To break through the market as new comers, we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. We will also offer special discounted rates to start – ups,  non-profits, cooperatives, small social enterprises and serving National Your Corps members.

For those clients that would need regular access to travels and tours consultancy and advisory services and other assistancesare going to be taking care of. A system of flat rate for such services that will be tailored to take care of such clients’of similar needs is being designed for them.

Simple Business Plan for Travels and Tours Agency Business in Nigeria

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Payment Options

Simple Business plan for Travels  and Tours Agency business in Nigeria. Our payment policy will be all inclusive to cater for all clients need. Therefore, the payment options that we will make available to our clients include;
  • Payment via check
  • Payment by via bank transfer
  • Payment via online bank transfer
  • Payment via bank draft
  • Payment with cash

Financial Projections and Costing:

The Financial projections are those related to:
  • Sources of fund
  • Fixed Assets facilities
  • Working Capital needs

Sources of Fund:

Simple Business plan for Travels  and Tours Agency business in Nigeria. The foloowing  are the areas we intend generating our start – up capital;
  • Our personal savings – already we have generate N3,500,00 from personal savings and 
  • N500,00 soft loan from family members and friends.
  • Apply for loan N 1, 000,000 from my Bank

Fixed Asset and Pre-operational  Facilities:

  • Business  incorporating expenses  –  N350,000
  • Business permits and business license – N500,000
  • Office facilities-furniture and fittings, equipment/tools, software applications etc. – N3,000,000
  • The Cost of Launching  official Website – N200,000
All of these totalling N4,050,000

Working Capital:

  • Cost of paying at  least one employees for 3 months plus utility bills – N200,000
  • Additional Expenditure (Business cards, Signage, Adverts and Promotions etc.) – N250,000
  • Miscellaneous: N250,000. Giving a total of N700,000 for working capital.
The indication here is that we will need about N4,750,000 to start-up this business.


Simple Business Plan for Travels and Tours Agency Business in Nigeria

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Expansion Path 

Simple Business plan for Travels  and Tours Agency business in Nigeria. Waka-About Travels and Tours Ltd knows that if it continue to deliver excellent travels and tours services, there will be steady flow of income for the organization.

Therefore, it’s our plan to expand the scope of our  services  beyond Abuja to other parts of Nigeria. The cities and towns in our mind include Lagos, Port Harourt and Kano.

We are very optimistic  that if we implement our business strategies strictly as stipulated in this business plan, we will achieve our business goals and objectives in record time.

Check List / Milestone

Simple Business plan for Travels  and Tours Agency business in Nigeria. The followinf activities are indicative of where we are now and wher we shall be and when.

  • Business Name Availability Check/ reservation: Completed
  • Business Incorporation: Completed
  • Opening of Corporate Bank Accounts various banks in the United States: Completed
  • Opening Online Payment Platforms: Completed
  • Obtaining FIRSTax Payer’s TIN: In Progress
  • Obtaining  business license and permit: In progress
  • Conducting Feasibility Studies: Completed
  • Raising of initial  capital from the founders: Completed
  • Applications for Loan from our Bankers: In Progress
  • Writing of Business Plan: in Progress 
  • Recruitment of employees: In Progress
  • Purchase of the Needed fixed assets
  • Building Official Website for the Company: In Progress
  • Creating initial awareness for the business (Business PR): 25th May
  • Meeting up with Health, Safety and Fire Safety Arrangement:  2nd June
  • Reaching out for business  relationship with vendors and key players in the industry: In Progress


Simple Business Plan for Travels and Tours Agency Business in Nigeria

Conclusions:

Simple Business plan for Travels  and Tours Agency business in Nigeria. Considering the fact that the business will be yielding a gross profit of  N9,900,000, N23,100,000 and N49,500,000 for first, second and third year respectively, we conclude that this business is very viable.

The Other Partof the Story

The other partof the story is that there are a lot we can do for you, and your business. Complete Full Marks Consultants Limited, the owner of this website, is a firm of chartered accountants, auditors, taxation and business consultants, who will register your business within the shortest time possible, process and obtain your mining licence, audit and prepare your annual financial statements, take care of your internal control sytems, and your tax management, in addition to business coachings and advises, preparing your usiness plan and feasibility studies.

Contact us on +234 8034347851 or email to cfmclimited@gmail.com

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Simple Business Plan for Travels and Tours Agency Business in Nigeria

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