Slovakia Business Plan Essay
Investment Plan
Slovakia is a country in Central Europe. It has many beautiful places one would love to visit (Borsekova et al., 2017). The geography of Slovakia is known for its mountains and the government system is parliament democracy.
High Tatras Mountains Slovak National Park Spis Castle
Slovak Karst and Domina Cave Trencin Banska Bystrica
Based on this, I intend to establish a company that will provide individual and group travel which would be convenient for clients (Kasagranda et al., 2016). The company will be located in Bratislava. Bratislava is not just the capital of Slovakia but also the largest city in the country with the population of 450,000 people. This city has a history of being influenced by people of different religions and nations. The products and services of my company include travel consultations, pre-arranged tours along with custom packages according to the client specification (Nunkoo, 2016). My company will provide other services that includes food services, assistance with passport, access to the top of a line supplies and equipments. The knowledge and expertise that my company possess would be tehvalue addition in my company offerings. If supplies failed to meet our standards of quality they will not be used next time. Suggestion from the customers will be our top priority, giving them the comfort they need in traveling is one of the main concerns of the company.
| Expenses | Cost (Euros) |
| Mercedez Benz Passenger van (5) | 355,130 |
| Legal costs | 448 |
| Stationary | 400 |
| Brochures, Billboards, Panaflexes | 4,000 |
| Consultants | 1500 |
| Insurance | 350 |
| Rent | 2000 |
| Total start up expenses | 363,828 |
Initial start-up expenses would be of 363,828 Euros with 5 Mercedes Benz Minivans and other expenses related to Rent, insurance, stationery etc would cost 8,698 Euros. Human resource is a backbone of every company.
| Accountant | 10,000 (Euros) |
| Sales and marketing Director | 10,500 |
| Travel agents | 9,000 |
| Driver | 1,000 |
| Cleaner | 600 |
| Mechanic | 1,000 |
| Personal Assistants | 1,000 |
| Total Payroll | 33,100 Euros |
As the company is new so personnel would be not more than 10 to 12 employees which include (accountant, sales & marketing, drivers, personal assistants, cleaners, mechanic, watchman etc). Total payroll cost will not exceed 32,000 Euros per month for the first year (Hartmann, 2016). Payroll cost will increase on annual basis, once company builds its reputation in the market, the workload will also increase which will result in more personal. For the company to grow it will take some time, this is not possible that company will make profits from day one (Jasimmudin, 2016).
Profit and Loss Statement Euros
| Sales | 400,000 |
| Cost of sales | 290,000 |
| Gross Profit | 110,000 |
| Expenses | |
| Utilities | 3,000 |
| Rent | 9,000 |
| Insurance | 2,300 |
| Payroll | 33,100 |
| Marketing & Promotion | 15,000 |
| Total Expenses | 62,400 |
| Profit before Tax | 47,600 |
| Interest expense | 7,000 |
| Tax incurred | 5,000 |
| Net profit | 23,600 |
Social media will be used to attract business towards the company. Use of Instagram, Facebook along with the use of ads that will pop up whenever someone visits a particular website will help the company to let locals know about what company has to offer to them (Gerbuado, 2018 | Gregoire et al., 2015). The company will also establish its website so that people can get to know what we are offering and also they can book their trip online. This will cost the company to hire a web developer and one personnel that will handle all the social media work. Use of billboards, brochure and panaflexes will also be useful. For publicity, an estimate of 4,000 Euros will ne be allocated.
References
Borseková, K., Vaňová, A. and Vitálišová, K., 2017. Smart specialization for smart spatial development: innovative strategies for building competitive advantages in tourism in Slovakia. Socio-Economic Planning Sciences, 58, pp.39-50.
Gerbaudo, P., 2018. Tweets and the streets: Social media and contemporary activism. Pluto Press.
Grégoire, Y., Salle, A. and Tripp, T.M., 2015. Managing social media crises with your customers: The good, the bad, and the ugly. Business Horizons, 58(2), pp.173-182.
Hartmann, P.M., Zaki, M., Feldmann, N. and Neely, A., 2016. Capturing value from big data–a taxonomy of data-driven business models used by start-up firms. International Journal of Operations & Production Management, 36(10), pp.1382-1406.
Jasimuddin, S.M. and Maniruzzaman, M., 2016. Resource nationalism spectre hovers over the oil industry: The transnational corporate strategy to tackle resource nationalism risks. Journal of Applied Business Research, 32(2), p.387.
Kasagranda, A., Rajčáková, E. and Vystoupil, J., 2016. Urban tourism in Slovakia: Its quantification, spatial differentiation and typification. Geographica Pannonica, 20(2), pp.114-126.
Nunkoo, R., Ramkissoon, H. and Juwaheer, T.D., 2016. Travellers’ Intent to Purchase Tourism Products and Services Online.
