Business of Comfy Travelling Agencies - Essay Example

? A Business Plan for Comfy Travelling Agencies Task A Business Plan for Comfy Travelling Agencies Introduction A Business plan is a crucial instrument for planning of any business, since it predicts on the business performance. An ethical business is not profit-oriented, but considers the insinuation of their activities to the society. This article examines the provision of travelling services to individuals as an example of an ethical business. 1. Selected Ethical Business In selecting an ethical business, I would open up a transport business that offers travelling services to populace with an enhanced customer services (Audi, 2009, 176). 2. Name of the Ethical Business I would name my transport business as Comfy Travelling Agencies, since it corresponds to services offered in the industry, and strategy and set of laws central to the provision of services. 3. Mission Statement for Ethical Business The mission statement, for the ethical business I have selected states, “Comfy Travelling Agencies” aims at providing quality and affordable transport services to society” (Stephenson & Thurman, 2007, 34). 4. Business and Market Description My written business description for business and market are a business review, history, position and amenities, legal company outline and the proprietors. The business is motivated by the desire to have an enhanced bus transport service to offer, and cater for all stakeholders needs. My business offers quality and reasonably priced transport facilities to all the societal members. The business serves the society at any time of the day, since it also operates at night. The choice for the selection of transportation business environment will consider the significance of the location to the business; since, rent will be charged in the business operational environment. Consequently, the location should suitable for achieving business goals. My location choice for the business would be in Montana, USA. The facilities that would be available to the business are free access roads in the region and freedom from government tax systems (Audi, 2009, 44). Set of laws and regulations controlling the business operation will be clearly stated, and the Oder of command in the industry will be straight (Miller & Cross, F2011, 76). I will be the main business proprietor, since I will be the one funding the whole operation. I will also be the one with the idea of how the industry is to be managed. 5. Goals Objectives Actions Timing Short term The company’s short term business goal is to provide an affordable transport system to the town’s population, which will solve the town’s undisciplined transport operators managing the company in an exploitative way. 1-6 months Mid term The mid term business goal is to retain the company’s entire staff, and motivate them to yield a high quality customer satisfaction and increased profit making in the company. 7-11 months Long term The company’s long term goals are gratifying the customers’ needs by improving on the quality and expanding the business to other key town after a year. 1-2 years 5. SMART Objectives for the Business Smart objectives will assist the transport business to realize the accomplishment of shot term plans and motivate the staff in achieving long term objectives. Specific The business objective is to earn customers loyalty within the first two months of operation. The reason for the objective is to create a secure liaison with clients and maintain them for a long time. The drives and the customer care department are involved in attaining the objective. The site where the target is to be achieved is on the roads where clients are transported various localities. The driver should drive safely and timely to ensure that customers are on schedule with their plans for the day. Measurable The objective would be measurable, since, the number of clients travelling with the companies’ buses will be documented in a daily basis. The data will be tallied at the end of the first month to confirm whether there is an increase of clients. Attainable The objective would be achievable, since the company is well equipped with the assets crucial in achieving the objectives. The company will encourage a self motivated staff to help in the realization of the goal through interacting with clients professionally, and keeping time as the main essence. Realistic The business objective is realistic, since the time-bound for achieving the target is adequate. The objective is also relevant since it will boost profits earned annually; hence, leading to a flourishing transport business. Time-bound The objective of the industry should be attainable within the time duration of two months (Hollett, 2006, 191). The company will realize this by coming up with a figure of clients travelling in the buses in each week of the month. This will assist to break down of target by locating the task throughout the months. 6. Key Personnel Description of the Business Key personnel’s in the industry are committed in providing excellence in the industry operation. The personnel take proper care of the industry resources and adhere to the chain of command. The Business Management Team The company’s management team for the business will be the group of individuals responsible for the supervision process within the industry. The company’s management constitutes of individuals who oversee the running of operations within the industry. They are the personnel manager tasked with managing of the company’s staff and resources. The sales manager tasked with marketing the company internationally and locally to the public. The finance manager tasked with the responsibility of controlling the company’s savings. The procurement manager tasked with the responsibility of purchasing the required company’s resources, and the general manager tasked with the overall supervision of the company’s activities and resources. Organizational structure Pricing Of Transport Fare Comfy Travelling Agencies will offer affordable prices such as ?50 for travelling from Liverpool to Manchester. A map will be drawn to determine actual travelling prices in all cities in United Kingdom. The Business Required Skills, Education and Experience The managers in the industry are required to posses a business management degree. The staff should have a college certificate with a ten year driving experience. Other support staffs are needed to have applicable skills in their area of work. 7. The Business Financial Forecasting The financial forecast for the business will be a net profit of ? 20 million. The Business Start-Up Cost The transport industry requires a start-up cost of ? 100 million. This capital is estimated to buy quality, self-contained busses and purchase office resources essential in the running of the business. Fixed cost and operational expenses Cash on hand ( A mount that I invest on my business) ?50 million loan ?50 million Total cash available ?100 million CASH PAID OUT Rental fee ? 5 million efficacy ? 4 million Council taxes ? 6 million TOTAL CASH PAID OUT ? 15 million The Business Forecasted Revenue The industry forecasted revenue that involves free cash flow that the industry will produce over a given period amounts to ? 35 million. Conclusion Conclusively, starting up an ethical business requires devotion, since it is centered at providing services to the society with no high profit to earn from the business Comfy Travelling Agencies is an example of an ethical business that one can offer to society and at the same time earn a livelihood. The operation of the company requires skilled personnel to help it expand its resources, since it will be an ethical business helping individuals. Biography Audi, R. (2009). Business ethics and ethical business. New York, Oxford University Press. Hollett, V. (2006). Business objectives: fully updated for the international marketplace. Oxford, Oxford University Press. Miller, R., & Cross, F. (2011), The legal environment of business. Mason, Ohio, South-Western. Stephenson, J., & Thurman, C., (2007), Entrepreneur magazine's ultimate small business marketing guide: 1500 great marketing tricks that will drive your business through the roof, Entrepreneur Press. Read More