An entrepreneurship plan: a web base application for customized group travel

Abstract

Tourism is a growing industry in India. In last 10 years, the industry has grown leaps and bounds; the Indian middle class has started spending more on travelling to different places. At the same time, there has been growth trend in social networking. Today s youth are internet savvy and they like making new friends and also stay connected to old friends through social networking websites. When these two positive trends are matched together, a business opportunity can be explored. The objective of this analysis is two fold,? To explore whether the proposition of group tour planning through social networking is viable? To decide initial marketing and financial plans to make this business plan effective. As part of this study, the target market was identified first. For this purpose, a market study was conducted to identify relevant segments for targeting this offering. Predominantly urban youth in the age range 22-35 were most receptive to this idea. Based on this insight, the market size is potentially pegged at 12000 crores and communication channels were identified to convey our offerings benefits. In order to monetize the offerings, multiple revenue streams have been identified. The costs and revenues generated from these business activities have been summarized into a financial statement projection fora period of 3 years with a break-even prediction of 1.5 years.