May 31, 2009 marks the grand opening of Business and Fun Travel Agency (BFTA) and will strive to be the primary travel agent to service people in the Central North America, specifically the Pine Bluff, Arkansas area. BFTA’s potential success relies on the annual growth in the travel industry. Further, the Pine Bluff traveling needs are expeditiously increasing due the growth in its business economy. More and more companies are paying for employee development which in turn, will afford BFTA the opportunity to take advantage of the travel ripened environment. The Pine Bluff area and its surrounding states have a large concentration of vacation resorts. BFTA’s target market is a unique group and BFTA will provide a specialized and thus differentiated service. BTFA will strive to stay competitive in this industry, and anticipates yielding about $250,000 within its 1st year of operating.
BFTA is a travel agency that will service not only the business district, but personal travel seekers as well. We provide consulting and custom business travel arrangements as well personal vacation packages. BFTA’s strive to become the most elite provider of traveling market to the people of the Pine Bluff, AR. BFTA’s employees and owner are prolific travel individuals, as well as keen business professionals.
Moreover, they are both willing to sacrifice extra time and effort to build a successful business. BFTA will offer profit sharing as well as an excellent benefit package to its ground-floor members. BTFA will also in the future utilize small businesses to stimulate the economic growth in the area.
Aside from the Internet, BFTA has approximately 3 immediate competitors in the greater Pine Bluff area:
1 Business Travel Overall, business travel comprises 18 percent of total U.S. domestic person-trips. Business person-trips are most often taken for general business purposes (likely for consulting, client service, etc) (44%). One in five (22%) business person-trips are taken for the primary purpose of attending a convention, conference or seminar. One-third (34%) of business person-trips are made by those traveling for combined business and pleasure purposes. One-third (32%) of business person-trips include air transportation. One in six (17%) business trips include multiple adults from the same household; 10 percent include children under 18. (Sources: Domestic Travel Market Report, 2004 Edition; Business and Convention Travellers, 2004 Edition) Vacation Package Travel: One quarter (23%) of past-year travellers (33.3 million adults) say they bought a travel package within the past three years – that is, a trip including at least transportation and a place to stay all in one price. The average age of a package traveller is 43 years and the gender breakout is almost even (47% men, 53% women). A majority (68%) of these travellers are married; 24% are single, never married. Half (51%) have children in their household. Four in ten (43%) have a college degree or more education. The average annual household income of a package traveller is $72,400. Nearly 80 percent of all air business travellers say their company has one or more business travel policies in place. One-third said that one or more of these policies were implemented in just the past year. Examples of these new restrictions include limiting the class of air service that can be used (14%), requiring U.S.-only travel (31%), limiting travel per diems (19%), restricting the number of employees traveling (25%), and requiring/recommending they drive instead of fly (34%). The improvement in online business communications has accelerated the use of technology as an alternative to taking business trips. Business travellers are turning to the Internet for the best airline ticket price, with almost half of all business air travellers personally purchasing their ticket online at least once in the past year. (Sources: https://www.tia.org/pressmedia/domestic_a_to_z.html#b)
According to the 3Queensland Australia site, adventure travellers are 61 percent male, aged 40.5 years, income of $74.7K, 22% married, 7% with kids under 12, 91% full time employed, 79 % college graduate, has 28 annual vacation days, spends $5076. There are over 52, 000 people in BFTA’s local target market. BFTA will focus on the sale and promotion of traveling market primarily to individuals, but also to corporate clients in the Pine Bluff area. BFTA will also target the following groups: Couples and individual traveling marketers: This is the customer group that meets the demographic profile for traveling marketers – ages 18-35, marriedw children, or single and with household income greater than $50,000. BFTA will also target Group traveling marketers, corporate traveling marketers and local businesses in an attempt to secure corporate accounts. BFTA plans to focus its initial efforts on the traveling market in the greater Pine Bluff area. As BFTA grows, marketing efforts will expand. The major purchasers that fit BFTA’s target market are located in urban areas within these states: Tennessee, Texas, Kansas, Alabama, and Georgia.
Research on the travel and tourism industry will be purchased as necessary. Demographics and spending patterns of traveling marketers have been secured and used to formulate communications strategy. BFTA will conduct customer surveys when a specific research problem is identified. BFTA subscribes to several industry publications and will attend trade shows to stay abreast of relevant issues. Domestic travel accounts for approximately 50% of industry revenues. Business travel can be divided into two categories, the medium to large corporate account, and the small independent business owner. Leisure travellers are classified according to the types of trips they take, income, or age. The four primary leisure travel groups are:
Travel expenditures at $733.9 billion, up from $699.9 billion for 2006. Based on these and other figures, BFTA estimates the Pine Bluff traveling market to be approximately $2 million annually. BFTA estimates that it will capture a 20% of this market.
BFTA marketing strategy is to build a strong customer satisfaction base. BFTA’s primary focus is that of business travel. BFTA strives to reach consumers search for personal traveling for vacation as well. BFTA wants to establish itself as the core of our customer base and give them a sense of confidence knowing that BFTA will provide all of their traveling needs. Our goal is to keep smiles on our customer’s faces and provide a comfort in our customers in knowing that are getting the best unparalleled service which includes saving time and money, and confidence in the vacation’s success.
Develop brand recognition through the use of effective advertising, marketing communications and promotion by using the following resources
Customer satisfaction program
Corporate account acquisition
BFTA’s marketing efforts will be reviewed quarterly. Variance between sales goals for the first year of operations and revenues will be BFTA’s only real source of comparison. BFTA will seek customer feedback on marketing efforts and may conduct surveys or focus groups to test ad effectiveness. Owner and CEO Craig Russell will be responsible for the planning and implementation of BFTA’s Advertising, Communications, and Promotion activities. Ms. Hunter will work under the supervision of La Shanna Russell and will oversee the marketing activities. BFTA may use marketing consultants from a local firm (small businesses where possible) to help with strategy.
Business and Fun travel Agency will be the best in the business. We are a team that knows the business and has a good understanding about quality. Our work ethics has and always will speak volumes as far as the capacity of which we value our customers. We are dedicated to the success of our company in turn focuses on of customer satisfaction. We look forward to services all of travel and vacation needs. See you in May of 2009!
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