Business Plan Enjoyable Travel Agency Based in Melbourne, Australia - Case Study Example

Business Plan “Enjoyable Travel Agency” based in Melbourne, Australia Table of Contents 2.2 Ownership of the Business 3 MBF Overseas Travel Insurance: located at Kilda Rd 14 a. Strengths 26 b. Weaknesses 26 c. Opportunities 26 d. Threats 27 REFERENCES 31 Accommodation and Travel 2011, ‘Travel Agents in Melbourne, VIC’ viewed 17 January 2012 from http://www.startlocal.com.au/travel/travelagent/vic_melbourne/ 31 Australian Bureau of Statistics 2011, Population Projections, Australia, 2006 to 2101, viewed 17 January 2012 from, http://www.abs.gov.au/Ausstats/abs@.nsf/mf/3222. 31 Australian Government 2011, ‘tourism and travel’, viewed 18 January 2012 from, http://australia.gov.au/topics/tourism-and-travel 31 Brown, B. C., (2010), How to Use the Internet to Advertise, Promote, and Market Your Business Or Web Site: With Little Or No Money, Atlantic Publishing Company, Florida. 31 Department of Resources, Energy and Tourism 2011, ‘National visitor survey’, viewed 17 January 2012 from http://www.ret.gov.au/tourism/tra/domestic/national/Pages/default.aspx. 31 John, D 2009, ‘register a company in Australia’ viewed 17 January 2012 from, http://www.ausbusiness.net/review/register-company-registration-australia/ 31 Llewellyn, M., Atkinson, L Crittall, R. & Mylne, L 2012, Frommer's Australia, Sydney. 31 North South Wales Government 2011, ‘Travel Agencies licensing guidelines’ viewed 17 January 2012 from http://www.fairtrading.nsw.gov.au/Businesses/Specific_industries_and_businesses/Travel_agent_licensing_requirements.html 32 Tourism in Australia 2010, ‘Tourism & Hospitality Industry in Australia’ viewed 17 January 2012 from http://www.investinaustralia.com/industry/tourism/tourism-hospitality-industry-australia 32 Tourism research Australia 2011, ‘Travel by Australians: September 2011 Quarterly Results of the National Visitor Survey’, viewed 18 January 2012 from, http://www.ret.gov.au/tourism/Documents/tra/National%20Visitor%20Survey/travel-by-australians-sept-quart-2011.pdf 32 1. EXECUTIVE SUMMARY “Enjoyable Travel Agency” will be a full service travel agency located in Melbourne suburbs in Australia. In order to launch the operations of this business successfully, the founders estimates that they will require a total of $119,250. The pioneers will invest $19,250 in the project and seek additional funding amounting to $100,000 from (insert the name of a suitable bank or other funding agency). 1.1 The company “Enjoyable Travel Agency” is going to be a private, limited liability company organized in Melbourne by its founders. The founders do not have prior experience in travel agency business but they have (state your qualifications that suite the posts you are going to take, example, in management) and general knowledge on tour business that will support him in operating the business. They also plan to enrol in tour and travel training course in order to obtain formal qualifications that will be vital in operating the business. 1.2 Services Enjoyable Travel Agency is going to sell inbound and outbound retail travel services and is going to specialize in adventure travel, targeting both recreational and business travellers. A variety of services will be offered including destination packages, custom packages, car rentals, rail passage, airfares, reservations for lodgings, pre-arranged tours and consultations among others. 1.3 Business/Market strategy Our market analysis confirms that the strategy of the proposed business will be successful. The elements of the organization’s strategy include advertisement of our products and services through various types of media, offering sales discounts and giving promotions to our clients. 1.4 Financial projections The business projects $500,000 and $144,000 revenue and gross margin during the first year respectively, which are expected to achieve a positive growth during the next three years of operation. These figures are expected to give an annual gross profit of $57,485 and a positive cash flow of $57,485. 2. BUSINESS INFORMATION 2.1 Name of the Business The name of the business plays an important role for marketing purposes (Brown 2010, p. 12). Enjoyable Travel Agency will offer our customers superior customer service, travel selection and value for their travel dollar. In order to build and maintain strong relationships with our suppliers, we can secure the best rates on destination packages, car rentals, airfares and more. Thus, after careful consideration of this, the retail travel agency is will be known as “Enjoyable Travel Agency”. 2.2 Ownership of the Business The business will be established as a private, limited liability Company fully owned by the founders. This structure may later be replaced with alternative legal corporate structures once the investment funding is secured. The stocks of the company will be apportioned as follows: 60% owned by Enjoyable travel agency founders (name of Founder 1) 60% (name of Founder 2) 40% 2.3 Vision Statement Enjoyable Travel Agency is dedicated to become one of the leading travel agencies in providing travel related products and services in Australia. 2.4 Mission Statement The mission of Enjoyable Travel Agency is to provide quality travel related products and services to its clients. The main aim of the company is to provide all basic needs of leisure/recreational as well as corporate travel markets. 2.5 Products and Services Enjoyable Travel Agency is going to sell both inbound and outbound retail travel services and is going to specialize in adventure travel, targeting both recreational and business travellers. The company is going to exploit the opportunity of continued demand by Australians to purchase travel services and will offer professional service and consultation to adventure travellers. The company will offer a variety of products and services including destination packages, custom packages, car rentals, rail passage, airfares, reservations for lodgings, pre-arranged tours and consultations among others. 2.6 Business location and facilities Enjoyable Travel Agency has identified two locations for office space in the heart of Melbourne's wealthiest suburbs. 1. The location of the main office will be Collins Street at in Melbourne (can add address details that will suite you) 2. The other office will be located at king street, still in Melbourne. The two offices are fully equipped and staffed. 2.7 Legal requirements The business will be compliant to the rules and regulations Department of Fair Trading in Australia. The current requirements do not require of individuals or partners operating a travel agencies to have any particular educational qualifications to hold a licence. However, individuals engaging in top management of such a business are required to have formal qualifications in THTSOP20A or SITTTSL013A which is stipulated in Vocational Education and Training Accreditation Act 2005 (North South Wales Government, 2011, p. 3). A travel agency is required to apply for a licence with both Department of Fair Trading and the trustee of the Travel Compensation Fund. A license fee and processing fee is required when applying for a license, which currently amounts to $500. (North South Wales Government, 2011, p. 3) 2.8 Business registration The registration of the business will take five major applications: 1. Online registration of the company to receive Australian Company Number (ACN) and relevant company documents. 2. Registration with Department of Fair Trading in Australia 3. Registration with the Travel Compensation Fund, (John, 2009). 4. Registration with the Australian Federation of Travel Agents (AFTA) 5. application for professional indemnity insurance policy The whole process will require a maximum of $500 to complete 2.9 Start up summary The total start-up capital requirement for Enjoyable Travel Agency is approximately $119,250. This will be financed through founders’ personal investment and a long-term note secured from (state specific bank). Start-up requirements Start-up expenses Registration and Legal expenses $1000 Stationeries $500 Consultants $1,500 Equipment 17,000 Brochures $1,100 rent $2,500 Insurance $400 Other $550 Total start-up expenses $24,550 Start up assets Cash required $40,000 Other current assets $18,500 Long-term assets $36,200 Total assets $94,700 Total requirements $119,250 Start-up funding Start-up expenses to be funded $24,550 Start up assets to fund $94,700 Total funding required $119,250 Assets Non-cash assets from start-up $54,700 cash requirements from start-up $40,000 Additional cash raised $0 Cash balance on start-up $40,000 Total assets $94,700 Liabilities and capital liabilities Current borrowing $0 Long-term loan $100,000 Accounts payable $0 Other current liabilities $0 Total liabilities $100,000 Capital Planned investment Founders $19,250 Investor $0 Additional investment required $0 Total planned investment $19,250 Loss at start up (start up expenses ($24,550) Total capital $ (5,300) Total capital and liabilities $94,700 Total funding $119,250 2.10 Business loan requirements The pioneers of Enjoyable Travel Agency will invest $19,250 out of the required capital of $119,250. The founders are therefore seeking additional funding amounting to 100,000 from (state a suitable bank). 3 MARKET ANALYSIS 3.1 Market opportunity There has persistent demand for travel products and services by Australians. According to Tourism in Australia, (2010), the tour and travel industry is one of the largest sectors of the economy in Australia. Though the industry has in the recent past been hit by economic downturn, it has recently improved and it now operates well in the global market. There is a huge number of Australians travelling to overseas in the recent past. Currently, approximately 30.2% of Australian population is taking a trip to overseas every year and the trend is expected to remain the same. In this regard, there is need for Australian Tourism industry to recognize this trend and counter it. As well, there have been conscious and significant efforts by Australia government to support the tourism industry recently. The federal government has established a comprehensive plan aimed at providing support for the industry and to facilitate investment opportunities (Australian government, 2011). This has been done through ensuring that the business environment is conducive to attract capital investment. As well, there have been efforts to provide business development assistance throughout the industry and to facilitate the development of emerging investors in the industry (Australian government, 2011). Also, there have been efforts to improve booking information and booking facilities as well as the provision of destination for customers in the tour industry.. Report produced by Tourism Research Australia for July-September Quarter indicated that there were 69.6 overnight trips taken by Australians aged above 15. This was 4% higher than the number of trips taken for the equivalent period in the previous year. Generally, Australians spent more than about 262 million nights away from their homes during the period (Tourism research Australia, (2011, p. 2). There an increase of 1% in overnight expenditure to $43.3 billion from the similar period in the previous year. Figure 1: Visitor nights and overnight expenditure, year ending December 1998 to September 2011 Source: Tourism research Australia, (2011, p. 8) During the same period, day visits by Australians amounted to 153 million trips for residents aged above 15 years. Expenditure for day time visitors amounted to $15.2 billion. Figure 3: Day visitors and day expenditure, year ending December 1998 to September 2011 Source: Tourism research Australia, (2011, p. 10) The total outbound travels by Australians aged above the age of 15 was 6.6 million trips Figure 4: Outbound travel, year ending December 1998 to June 2011 Source: Tourism research Australia, (2011, p. 13) Generally, there is no doubt that there is a room in the market for the growth of a retail travel agency in Australia and Enjoyable Travel Agency will utilize this opportunity. 3.2 Market segmentation The target customers of enjoyable travel club are Australia citizens on holiday/recreation travel, attending events for sporting contests, music festivals, arts and cultural performances, or they could be people on business travel or people visiting friends and relatives above the age of 15. The target groups are as follows Australian residents aged above 15 years Travel agents and professionals with an already established client base especially in the tourism market Civic groups, corporations and non-profit making organizations interested in our products and services. Internet users seeking our products and services. 3.3 Target market and demography Enjoyable Travel Agency will place offices in Melbourne city. Melbourne is the capital of south-eastern state and the second largest city in Australia. It is situated at the head of Port Phillip Bay. It is kwon as the Australia’s cultural capital and it offers a variety of shopping places, galleries, mediums and theatres, (Llewellyn, et al, 2012, p. 663). It also has beautiful gardens and large parks. Melbourne attracts tourists who come to use it as gateway to for exploring the popular large parks such as the Grampians National Park and also the beautiful gardens. The city has an estimated population of approximately 3.8 million people (Australian bureau of statistics 2011). It is the second most populous city in Australia after Sydney. Australian bureau of statistics 2011 projects that the city will be the most populous city by 2039 due to large levels of immigration into the city. 3.4 Competitor analysis There are many competitors for Enjoyable Travel Agency. In fact, there are about 4,500 travel agencies in Australia and approximately 176 are in Melbourne (Accommodation and travel, 2011). Several travel and tour retail agencies compete directly with Enjoyable Travel Agency. However, the number of potential clients for Enjoyable Travel Agency is also huge and the company has an opportunity to establish client base and to compete with other travel agencies. Below are some of the competitors based in Melbourne. Friends travel: located at little Collins street MBF Overseas Travel Insurance: located at Kilda Rd Melbourne Harley Tours: located at Victoria Street Abbotsford Tick It travel: Little Collins Travman Tours : located at Queen Street The strength of the above travel agencies (just like others in Melbourne) is that they have operated for a long time and already have established client base. One remarkable weakness with most of them is that the fact that their services are a bit expensive. Most of them offer different services compared to those that will be offered by Enjoyable Travel Agency (Accommodation and travel, 2011). 3.5 Competitive advantages Enjoyable Travel Agency will have a competitive edge brought about by its focus and passion of founders and employees and in superior products and services that it will offer. The company will offer differentiated services, provide high quality services and offer slightly lower prices than competitors. 4. STRATEGY AND OPERATING PLAN 4.1 Objectives Our strategic objectives will be as follows: a) To provide high quality for customers and more advertising in the next 1 years. b) Our long-term objective is to position the company as an internationally recognized provider of service, selection and value. c) Through building strategic alliances with suppliers and strong positive relationships with customers. 4.2 Strategy In order to reach the above objectives, Enjoyable Travel Agency will work to achieve and maintain competitive edge in the provision of tour and travel products and services. We will work hard to maintain our strategy, marketing business development and fulfilment. In essence, our strategy will be focused on: Offering differentiated travel products and services. This will be achieved through marketing of our products and services through the available and most effective approaches in our target market. We are going to provide our clients width unparalleled services so that we can gain referrals and repeat business. This will include providing quality and satisfactory services to our clients 4.3 Value positioning The value position of Enjoyable Travel Agency comes from love of travel and personal knowledge of the pioneers and employees. They plan to share enthusiasm of their customers for tour and travel experiences they are going to offer and thus, they are confident that they are going to meet the needs of their customers. 4.4 Marketing strategy Enjoyable Travel Agency will focus on creating and keeping customers. Thus, its marketing strategy will focus on how to achieve this goal as it builds its reputation in Australia. The company will promote the benefits of adventure travel such as excitement, better health a personal growth and a whole lot of fun. 4.4.1 Promotion strategy Enjoyable Travel Agency will hold a grand opening during the first year of opening where it will organize and sponsor athletic events including mountain bike race, 5 kilometres and 10 kilometres run and off-road triathlon. The company will provide a variety of prizes and all employees of the company will interact with people promoting our products and services. 4.4.2 Distribution strategy Enjoyable Travel Agency will focus on the target market in Melbourne city where its services will be sol directly. In order to enhance a national reputation, the company will establish distribution on World Wide Web. 4.4.3 Advertisements Enjoyable Travel Agency will be promoted in various types of media including televisions, radios, newspapers, magazines and internet. Our research has located detailed profiles of potential clients for this company. Our findings indicate that most of our target customers are internet users and in fact, most of them purchase travel services from travel agents over the internet. Thus, internet offers a great opportunity for Enjoyable Travel Agency to advertise its services and to communicate with our clients. We expect to use the same media to extend sales to national and global markets in the future. 4.4.4 Pricing strategy Enjoyable Travel Agency is determined by market standards. The company will focus on maintaining a competitive pricing policy and keep the price of its services slightly below that of other travel agencies. However, as the company builds its reputation, it expects to be able charge comparable rates to other travels agencies. 5. MANAGEMENT PLAN (Your name) will act as the as the general manager of enjoyable travel agency. (name of your partner) will be the marketing and advertising director. Both founders will be responsible for hiring new personnel. Prerequisites for employees of Enjoyable Travel Agency include at least three years experience in travel industry and should have knowledge and ability in all products and services that our company will provide. Specifically, new employees will need to have knowledge and experience in the arrangement of rights of passage or in the selling of tickets, for international travel. Individuals with formal qualifications in Qualifications in THTSOP20A or SITTTSL013A which is assessed by a registered provider within the meaning of the Vocational Education and Training Accreditation Act 2005 will be given priority. 5.1 Organizational structure a) General Manager/president (Your name) will be the general manager and the president of enjoyable travel agency. Aged (years), he has formal qualifications in (please add just a few details about your qualifications that suite management position). He currently does not have formal qualifications in THTSOP20A or SITTTSL013A and experience in the arrangement of rights of passage or in the selling of tickets, for international travel which are required for this position. He is planning to attend training in the aforementioned course in order to attain formal qualification before launching the business. He is also planning to enroll for attachments in order to attain the required experience in the arrangement of rights of passage or in the selling of tickets for international travel. b) Marketing and advertising director (Name of your partner) will be Marketing and advertising director. He is aged 31 years and he has a bachelor degree in marketing course from University of Melbourne. He has extensive travel experience and has first hand knowledge about many locations. He is also attending a training course in THTSOP20A or SITTTSL013A. 5.2 Personal plan The personnel plan depicts the anticipated head count for enjoyable travel club for the first three years of operation. Enjoyable Travel Agency anticipates the need to increase personnel during the first three years of operation but this will mainly focus on tour guides and sales representatives who will be paid on commission basis. Year 1 Year 2 Year 3 Manager/president $8,000 $10,000 $11,000 Marketing and advertising director $8,000 $10,000 $11,000 Accountant $5,000 $7,000 $8,000 Travel agent $5,000 $7,000 $8,000 Tour guides $10,000 $18,200 $27,300 Travel director $7,000 $9,000 $10,000 Sales representatives $16,000 $21,000 $25,300 Additional office support $3,500 $5,000 $5,000 Total people 8 13 16 Payroll $62,500 $85,200 $101,600 6. FORECASTING 6.1 Revenues forecasts This section provides details about Enjoyable Travel Agency’s financial plan. Preliminary estimates indicate that Enjoyable Travel Agency will achieve positive growth from the first year of operation, irrespective of the fact that it is a start-up business. This prediction is based on anticipated high levels of revenues which will be generated though provision of quality and reliable travel products and services. The forecast is also based on the market analysis which has established that there is still high demand for travel-related products and services. Innovative and effective marketing strategies which will be adopted will play a vital role in facilitating the demand and increase average sales. The business also anticipates a positive growth in gross margin over time. Enjoyable Travel Agency has sufficient cash to enable it to endure situations if negative cash flow that it may encounter during start-up and even in the future. Therefore, this section presents realistic depiction of Enjoyable Travel Agency’s financial position, though a bit conservative. Key assumptions The market growth projections for the tourism industry in Australia are accurate The national economic conditions in Australia, which are currently favourable to the travel and tourism industry, will not decline significantly in the next three years. The international conditions will remain favourable to the tourism industry for the next three years. Detailed financial information is depicted below. 6.2 Break-even analysis Beak-even analysis is based on constant monthly revenues of $41,667 and variable costs of $29,667 during the first year of operation. Monthly fixed costs amount to $6,850. The break-even calculations assume a 28.8% gross margin. The calculations are as follows: Monthly projected sales: $41,667 Less: Monthly variable costs: $29,667 Gross margin: $12,000 % Gross margin 28.8% Break even point sales= Monthly fixed costs/%Gross margin = 6,850/28.8% = $23,785 Therefore, assuming constant monthly revenues and variable costs our sales will break even during the first month of operation and after making sales of $23,785. 6.3 Pro Forma profit and loss account Year 1 Year 2 Year 3 Sales $500,000 $600,000 $700,000 Direct costs of sales $356,000 $400,200 $441,450 Others $0 $0 $0 Total cost of sales $356,000 $400,200 $441,450 Gross margin $144,000 $199,800 $258550 Gross margin % 28.8% 33.3% 36.93% Expenses Payroll $62,500 $85,200 $101,600 Sales and marketing expenses $15,200 $21,700 $45,500 Depreciation $0 $0 $0 Utilities $955 $1050 $1430 Insurance $800 $1200 $1200 Rent $2600 $3500 3500 Interest expenses $150 $150 $150 Total operating expenses $82,205 $112,800 $153,380 Profit before taxes $61,795 $87,000 $105,170 Taxes incurred $3089.75 $4,350 $5,258.5 Net Profit $58,705.25 $82,650 $99,911.5 6.4 Pro forma cash flow statement The following data represents the projected cash flow for Enjoyable Travel Agency Year 1 Year 2 Year 3 Cash received Cash received from operations Cash sales $500,000 $600,000 $700,000 Total of cash from operations $500,000 $600,000 $700,000 Other cash receipts Sales Tax received $0 $0 $0 Short-term loan $0 $0 $0 Long-term loan $0 $0 $0 Sales of current assets $0 $0 $0 Sales of non-current assets $0 $0 $0 Receipts from investments $0 $0 $0 Total cash received $500,000 $600,000 $700,000 Cash payments Expenditure from operations Cash spending $52,300 $85,000 $105,000 Bill payments $370,215 $415,218 $499,850 Total cash payments from operations $422,515 $500,218 $604850 Other cash payments Sales Tax, Vat $0 $0 $0 payment of short-term loan $0 $0 $0 Repayment of long-term loan $20,000 $20,000 $20,000 Other liabilities $0 $0 $0 Purchase of current assets $0 $0 $0 Purchase of non-current assets $0 $0 $0 Dividends paid $0 $0 $0 Total cash payments $442515 $520,218 $624850 Net cash flow $57,485 $79,782 $75,150 Cash balance $97,485 $177,267 $252,417 6.5 Pro forma balance sheet Year 1 Year 2 Year 3 Assets Current Assets Cash $97,485 $177,267 $252,417 Accounts receivable 34,540 36,750 38,260 Other current assets $18,500 $18,500 $18,500 Total current assets $150,525 $232,517 $309,177 Fixed assets Fixed assets $36,200 $36,200 $36,200 Accumulated depreciation $0 $0 $0 Total fixed assets $36,200 $36,200 $36,200 Total assets $186,725 $268,717 $345,377 Liabilities and Capital Current liabilities Accounts payable $53,319.75 $36.461.75 $69,410.25 Other current liabilities $0 $0 $0 Total current liabilities Long-term liabilities $80,000 $60,000 $40,000 Total liabilities $53,319.75 $36.461.75 $69,410.25 paid-in Capital $19,250 $19,250 $19,250 Retained Earnings ($24,550) $34,155.25 116,805.25 Earnings $58,705.25 $82,650 $99,911.5 Total capital $53,405.25 $136,055.25 $235,966.75 Total liabilities and capital $186,725 $232,517 $345,377 Net worth $53,405.25 $136,055.25 $235,966.75 7. RISK ANALYSIS 7.1 SWOT analysis The following is the summary of enjoyable travel club’s strengths, weaknesses, opportunities, and threats. From our analysis our strengths and opportunities outweigh our weaknesses. a. Strengths Educated and Knowledgeable founder of the business Location in wealthiest suburbs of Melbourne's and thus, will be able to cater travel needs of a huge number of corporate and private clients Excellent working team who are devoted to their responsibilities b. Weaknesses The founder lacks prior experience in the travel agency business. This will be solved through hiring of consultants. Experienced individuals in the travel business may initially shy away from joining a start-up business. To attract competent staff, every good performance will be rewarded. c. Opportunities Continued demand of travel products and services availability of effective marketing media, especially the internet projected improvement in national economic conditions that will support the tour and travel industry d. Threats Enjoyable travel club expects to face high completion from the existing, well established travel agencies. This will be solved through research and development as well as applying innovative and effective marketing strategies for our products and services. Tough rules and regulations in the tourism industry 8. CONCLUSION We have subjected our proposed travel agency business to the most rigorous analysis and we conclude that it can be viable under all realistic scenarios. This plan demonstrates that we have identified a solid new business based on real and exciting opportunities. From our market analysis we conclude that we will be able to offer quality products and services and we are going to achieve and maintain a competitive edge with time. to arrive at this, we have established that enjoyable travel club require total funding amounting to $119,250 in order to launch its operations successfully. Out of this, the owner(s) will invest $19,250 and is seeking additional funding amounting to $ 100,000 from (state a bank). Based on our analysis, we have established a strategy to outdo our competitors by offering differentiated travel products and services and providing our clients width unparalleled services. Internet among other media will provide the company with a great opportunity to advertise its services and to communicate with clients. After determining the needs of the business, we have established a management and operating plan that will enable it to run effectively. Though our financial projections are somehow conservative, they indicated that the proposed business will be highly profitable. We expect the performance of the business to surpass the projections margin with time. The market analysis has established the potential strengths, weaknesses, opportunities and threats to establishment and success of enjoyable travel club. Results derived from the analysis shows that the proposed business will have several strong points which will be vital to help in utilizing the various opportunities available in the market for travel agency business. However, the analysis has also established a few weaknesses and threats but we have also established some lasting solutions to them. In general this business plan identifies a viable opportunity which has a high probability of succeeding if adopted and if supported with the required funding. REFERENCES Accommodation and Travel 2011, ‘Travel Agents in Melbourne, VIC’ viewed 17 January 2012 from http://www.startlocal.com.au/travel/travelagent/vic_melbourne/ Australian Bureau of Statistics 2011, Population Projections, Australia, 2006 to 2101, viewed 17 January 2012 from, http://www.abs.gov.au/Ausstats/abs@.nsf/mf/3222. Australian Government 2011, ‘tourism and travel’, viewed 18 January 2012 from, http://australia.gov.au/topics/tourism-and-travel Brown, B. C., (2010), How to Use the Internet to Advertise, Promote, and Market Your Business Or Web Site: With Little Or No Money, Atlantic Publishing Company, Florida. Department of Resources, Energy and Tourism 2011, ‘National visitor survey’, viewed 17 January 2012 from http://www.ret.gov.au/tourism/tra/domestic/national/Pages/default.aspx. John, D 2009, ‘register a company in Australia’ viewed 17 January 2012 from, http://www.ausbusiness.net/review/register-company-registration-australia/ Llewellyn, M., Atkinson, L Crittall, R. & Mylne, L 2012, Frommer's Australia, Sydney. North South Wales Government 2011, ‘Travel Agencies licensing guidelines’ viewed 17 January 2012 from http://www.fairtrading.nsw.gov.au/Businesses/Specific_industries_and_businesses/Travel_agent_licensing_requirements.html Tourism in Australia 2010, ‘Tourism & Hospitality Industry in Australia’ viewed 17 January 2012 from http://www.investinaustralia.com/industry/tourism/tourism-hospitality-industry-australia Tourism research Australia 2011, ‘Travel by Australians: September 2011 Quarterly Results of the National Visitor Survey’, viewed 18 January 2012 from, http://www.ret.gov.au/tourism/Documents/tra/National%20Visitor%20Survey/travel-by-australians-sept-quart-2011.pdf Read More