Planning and research activities for a Jamaica-focused travel agency startup

Business

Planned Activities

The current performance period runs from late October through early December 2010. There are a number of expectations that will need to be met in order to facilitate the creation of an ongoing business entity. Weekly expectations include; 1) the distribution and return of at least 50 surveys that will assist in determining the need and desire for a new travel agency, 2) a completed cost analysis, 3) compilation of start-up expenses, 4) research on competition and amenities. The expectations are ongoing concerns based on what it will take to create and maintain a travel agency based on tours to Jamaica.

A timeline has been established (see Table 1) and following the timeline should provide for more than enough time to complete each task. There may be some variance in the schedule depending on the availability of information online. If it is discovered that the information is not available, that may preclude the researcher to resort to other avenues of obtaining information. Such avenues could mean trips to public libraries, government or business offices in order to collect the necessary data.

Weekly Expectations

Chores that are expected to be addressed during the first week include the initial distribution of the customer surveys. It is projected that approximately 80% of the initiated contacts will result in completed surveys. If that percentage holds true, a total of 65 surveys will need to be distributed in order to achieve a total of 50 returns. With approximately 5 weeks to distribute the survey a goal of 13 per week (or approximately 2 per day) is feasible. The second chore is to go online and research the competition. That has been accomplished and there is no variance with this chore.

The third chore is to research and print the forms and communications needed to form a legal business entity in regard to the IRS. There is a two-week time frame to complete this task, already approximately one-half is completed, which leaves the researcher with plenty of time to complete the work. The fourth chore is to access the Small Business Administration (SBA) in order to determine what help is available in creating and developing a small business.

Actual

The current project focus is the distribution and completion of the client surveys. The surveys are being distributed to potential clients with the hope of compiling enough data to determine whether the enterprise has a chance at success. The search on Jamaica is ongoing and several websites have provided useful information.

The uniqueness of the proposed travel agency would be that group packages, mountain trips and coffee explorations would all be offered. The viability of these offerings is in the research stage.

The Small Business Administration (SBA) provides a website that has been very useful and the startup information necessary has been obtained from that website. Other information, including the availability of various types of small business loans has been accessed on that site as well, and has provided future funding options for the business. A number of surveys have been completed and returned and the researcher is in the process of analyzing and compiling the data therein. The current project focus is the distribution and completion of the client surveys. The surveys are being distributed to potential clients with the hope of compiling enough data to determine whether the enterprise has a chance at success.

The search on Jamaica is ongoing and several websites have provided useful information. The uniqueness of the proposed travel agency would be that group packages, mountain trips and coffee explorations would all be offered. The viability of these offerings is in the research stage.

The Small Business Administration (SBA) provides a website that has been very useful and the startup information necessary has been obtained from that website. Other information, including the availability of various types of small business loans has been accessed on that site as well, and has provided future funding options for the business. A number of surveys have been completed and returned and the researcher is in the process of analyzing and compiling the data therein.

Variance

The variance for the first week is relatively small. The distribution of surveys has been initiated and 10 surveys were handed out the first week. This is a negative three variance, and is being addressed by the researcher through more intensive means. The researcher will continue to aspire to distribute the surveys in a more consistent manner. The second chore shows no variance since it was completed during the prescribed timeframe. The third chore is 50% complete which is right on schedule, and the fourth task is completed, neither the third, nor the fourth task shows any variance

Initial Expenses

The costs have been minimal (so far) including small purchases of office supplies, printing of surveys, etc. Other expenses have included the fuel costs for travel, as well as the time and energy it has taken for the researcher to accomplish the tasks. Other costs will include the cost for printing promotional literature which is projected at $49. The cost for printer ink is approximately $50 and there have been 100 stamps purchased at a cost of $37.00. Office furniture expenses are expected to be approximately $800. An office setting would allow for client visits by appointment. Compensation for the researcher will primarily consist of commissions from any trips initially booked through the service.

Table 1

Project Timeline

Event Purposes Date Initiated Date Completed

Travel survey gauge interest 10/29/10 12/02/10

Research/Develop competition? 10/26/10 11/05/10

Research/Print IRS tax burdens 10/28/10 11/17/10

Research SBA creation expenses 10/27/10 11/03/10

Research Supplies office expenses 11/4/10 11/15/10

Research Print promo literature 11/4/10 11/10/10

Research Resorts amenities 11/18/10 12/08/10

Research Tours what is offered 11/24/10 12/07/10

Research Safety phone #'s etc. 11/24/10 12/07/10

Compilation of the data will be completed by December 8, 2010 and a written business proposal will be completed by the end of the year.