Contents

• The Business Opportunity 3
• The marketplace problem 3
• How we can provide a solution 4
• Why our solution is unique 4
• The Product/Service 4
• Product/Service Description 4
• Stage of Product/Service Development 4
• Product/Service Limitations 5
• Intellectual Property Ownership and Protection 5
• Government Approvals 5
• Potential for future spin-off products or services 5
• Production/Operations 5
• The Target Market 5
• Key Business Environment Trends 5
• Market Size, Location and Growth Trend 6
• Market Access 6
• Competitor Analysis 6
• Customer Profile and Behaviour 7
• Customer Value 7
• Key business decisions 7
• Resources and Competitive Advantage 7
• Reaching the customer 7
• Sales Forecasts 8
• Selling Prices 8
• Risk Management 8
• The Financial Plan 9
• Sales Projections 9
• Item Cost Estimates 9
• Marketing Expenses 10
• Operating Expenses 11
• The Profit And Loss Statement 12
• Break Even Analysis 13
• Set up Costs 14
• Financial Conclusions 16
• Further Factors to Consider 16
• Positive or strong aspects of the proposed new venture 16
• Pitfalls identified 17
• How much capital is likely to be needed 17
• Intellectual Property 17
• Potential for licensing the product or service 17
• Whether or not to write a business plan 17
• References 18
• Appendix: Secondary Market Research 19
• Appendix: Primary Market Research 19

Description

Mobile phones these days are used literally in all the activities be it accessing emails, chatting, video conferencing and even in planning a family vacation. Managing business trips or family vacations from the mobile device is the latest trend in the telecommunications market. The need is for mobile phones that can be used to plan a travel with maps containing roads, hotels, important sites to visit etc.
Although currently there are a few free software available that can have maps of major tourist places, they are kind of passive software that can be used for reference and not for navigation. There are mapping software available for GPS (Global Position System) enabled phones but they offer very limited usage in that the maps are not exhaustive (Nimesh Dubey, 2007). So it is the need of the customer to have an exhaustive mapping software for GPS use as well as to have a mobile travel portal.
The proposed Travel Guide Pro software for mobile phones integrates these two features i.e. to act as a tourist map as well as a navigator. Travel Guide Pro will have GPS compatibility along with tourist maps and guides so that the user need not use two applications separately one for map reference and another for navigation. Travel Guide Pro allows the users to plan their vacation using the map and hotels information as well as to know where exactly they are and where they are heading when they actually make a trip to the place. Travel Guide Pro can be operated from iPhone.
This is an original idea conceived by ---enter student’s name here--- and the idea is awaiting the patent approval.
The target market is all the mobile users whose handsets support GPS and who travel frequently. The market is growing now and saturation point is still far as GPS has still not found its place in many developing countries. So this is the best time to enter the market which is still at its infancy.
The projected sale for the first year of the product hitting the market is 1,000,000. The mode of selling is online. Estimated revenue generation in the first year of product launch would be $ 1,000,000.
The amount needed for initial set up costs and operations for the first month would be $ 150,000. The estimated net profit after deducting start up costs and operational costs for one year would be around $ 500,000