Running head; REFLECTION ON BUSINESS OPPORTUNITIES 1

REFLECTION ON BUSINESS OPPORTUNITIES

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Travfordable Agency
Transport is one of the most important sectors in any economy. The availability of reliable
modes of transport plays a major part in the development and also the well-being of the
individuals. This because in almost all the activities transport is needed either directly or
indirectly (Dhiman and Kumar, 2019., pp 5). Traveling agencies concerning this will play a
major part since many of the people rely on it. In England which has a large economic scope
and a very fast performing economy, there exists a gap between the demand for efficient
transport and its availability and accessibility to potential customers (Batra 2017). To solve
this problem starting a travel agency to bridge the gap is a suitable opportunity. Traveling
agency will work to ensure that all the demands of customers concerning traveling are
satisfied fully in a better way.
The name of the agency will be the Travfordable travel agency.
Just as its initials indicate the agency will aim to make travel affordable to all the people
irrespective of their geographical location, financial status and the level of technology. The
travel agency is one of the best business ideas since it will solve the problem of effectively
accessing quality, affordable and satisfying travel to all travelers. Traveling agency bridges
the gap that exists when people are not in the ability to access good means of travel.
Travfordable traveling agency is made to effectively solve the problems existing in the
transport sector (Dhiman and Kumar,2019 pp 12). The main challenges include the high cost
of traveling charges, unaffordable means of booking traveling tickets, lengthy procedures of
booking and very competitive market of the traveling agencies
The affordable traveling agency will mostly serve the student to and from various learning
institutions, family trips, tourists, regular workers who travel to workplaces on daily bases
and all people who travel either on regular or irregular bases by various modes of transport.
The agency will mostly deal with road and air means of transport. The agency will be
registered according to the legal provision of the companies to ensure that it is operating
legally and its services are recognized all over the world and an international agency (Le and
Karlsson, 2017). The agency's objective is to provide quality services to its customers and
make sure their needs are fully satisfied. It also has the future goal of providing door to door
travel services at affordable prices.
The agency will have a strong base of administration to ensure that it is well run. It will
employ professionals to run it. This is to prevent failure of the implementation of the idea due
to poor management which is the major cause of many business failures. The agency will also
have a strong financial background to ensure that it runs well without a financial crisis. Since
it will be legally registered it will be able to be financed by banks and other lending
institutions. The financial stability ensures the security of any customer's investment with the
firm and also the assurance of refund in case the customer needs a refund of his or her funds
(Ranaivoson, Delaere and Xia, 2017).
The affordable travel agency will enable potential customers to book traveling tickets through
websites which will save on time. The computerized booking system will make it convenient
for the customer to book tickets any time and the tickets will be preserved for them. The easy
way of booking the tickets will reduce the cost of booking tickets especially flight tickets.
Thus, the Travfordable agency will ensure that the flight tickets are affordable to more
customers. The agency will also ensure that people can book the tickets with a small fraction
of the charges and be able to pay the rest of the amount is portions of installments that best
suit the customer and can pay unlike for the competitors where the payment is done on fixed
installments of three, six and twelve months. The agency will not offer credit cheques which
are very costly to the customer over a long period. Keeping the lending history and following
up for payment and a lot of transactions are an additional cost to the agency which might
necessitate increased charges of tickets.
The Travfordable agency will stand a better chance to outdo its competitors who include
Flymbe agency and air fordable agencies through the use of a better pricing strategy which is
not fixed. The agency will allow the booking of tickets using a small fraction and installments
payable at the customer’s choice of time, unlike the flyable agency. Furthermore, the agency
will apply the computerized mode of booking tickets through its website. The customer care
services will be linked to the booking process to ensure that the customers booked spaces will
be preserved for them unless they cancel their tickets (Vellas, 2016).
The pricing model will be fixed and not dependent on seasons and the demand for travel
services. This is to assure all the customers of their affordable tickets at any time. The pricing
will only include cancellation charges and refund fees. There will be no additional charges
and the amount refundable will awarded without complications.
Travfordable agency will work to provide customer value for the services it will provide. To
ensure this it will have a customer service department. The department will deal with
complaints relating to the services provided. It will also clarify issues concerning the
operation of the agency. The agency will also provide a mode of communication that will
give room for suggestions and any feedback from the customers it serves. This will create a
positive relationship between the agency and its customers hence stand in a position to retain
the existing customers for a long time. Furthermore, the agency will link with
accommodation companies to ensure that its customers can access better and affordable
accommodation at their destination areas (Tran, Jeeva, and Pourabedin,2016 pp., 63). This
will further reduce the costs to be incurred by the customer and make them have no worry
about their destination area since everything is catered for.
Travfordable agency will mostly offer its services to the working class, students, and low and
medium-income earners. This according to the research done these are the people who
frequently travel. The tickets charges for Travfordable are affordable to these groups of
people. The working class of people is potential customers since they frequently travel during
their daily duties. They are also easily reachable since most of them get involved in the use of
computers and access to social media websites (Dhiman, and Kumar, 2019B., pp 7). Students
mostly of high school and higher learning are involved in traveling as they move to and from
learning institutions all over the world. Besides the agency will offer its service to the tourist
visiting different parts of the world. Most of these people belong to the low and medium-
income earners and relatively low prices of Travfordable agency will favor them. Moreover,
most of the students will prefer the least costly charges and the methods of booking tickets
which are faster and not lengthy. Through mass media advertisement almost 90% of the
student will get to know the agency. The students are also familiar with the latest technology
and will be able to book the tickets online more efficiently. Considering all these possible
markets tourists will be the most preferred since there is a good number of tourists traveling
compared to the other population (Tran, Jeeva, and Pourabedin,2016 pp., 63).
All parts of the world are potential areas of this business idea. The percentages of people
traveling are not constant but keep varying. Considering all the seven continents in the world
Asia is the leading one in the activities of traveling and online booking of tickets. Thus the
agency will best operation with transport to and from Asia. Considering the population of
traveling Travfordable agency will best serve Asia. This because of a vast number of tourists
to and from Asia who prefer online booking services for their tickets. This will enable the
agency to have a competitive advantage over the other agencies which do not offer online
booking of traveling tickets (Suárez-Álvarez and Río-Lanza 2019, pg., 215). Asia currently
has been handling the largest number of tourists of about a quarter of the total world tourists.
Because it has a lot of tourist destinations. The level of traveling population to and from Asia
has been increasing at an average percentage of 10% since 2015. Asia is the leading continent
in the booking of travel tickets online and its expenditure is projected to increase steadily
soon.
The idea of a travel agency looks very attractive since it will offer services that are needed on
a daily bases. Transports is an ongoing activity and continue to grow with time hence the
possibility of business failure due to low customer turn up or unavailability is very low.
Furthermore, providing traveling services is a more practical activity and the agency will be
able to get feedback on the services provided (Martin-Fuentes and Mellinas, 2018). The
feedback helps the management to know the strategies to apply to compete in the
international market and areas of weakness to strengthen. The services provided also offer an
opportunity for immediate feedback concerning the quality of the services provided.
The idea is very convincing and has the assurance of faring well in the market. This because
of its competitive advantages and strengths outweighs the weakness. Considering the gap that
exists between the services and terms of service provided by the existing travel agency and
the customers in the market, the idea has the assurance of creating value to the customer
wants and needs.
Conclusively, I think that this idea will perfectly work as projected. This because the idea is
goods and all the aspects considered seem viable. The intensive research I have done
concerning the idea proves to me that with all the strategies well implemented the idea can
thrive well. I believe that the idea can be Implemented and successfully compete with the
already existing business of the same without the risk of being outcompeted. This because the
business is exposed to very few risks that can be solved by the strategies put in place
compared to its strengths.
References
Batra, S., 2017. TrailerWalla: Evaluating an opportunity. SAGE Publications: SAGE
Business Cases Originals.
Boniface, B., Cooper, R., and Cooper, C., 2016. Worldwide destinations: The geography of
travel and tourism. Routledge.
Dhiman, M.C. and Kumar, R.B., 2019. Building Foundations for Understanding the
International Travel Agency and Tour Operation. In Handbook of Research on International
Travel Agency and Tour Operation Management (pp. 1-13). IGI Global.
Dhiman, M.C. and Kumar, R.B., 2019B., Umit, B. and Gannon, M., 2017, August. Market
focused learning and entrepreneurial orientation: Improving performance measurement in a
travel agency context. In British Accounting and Finance Association Scottish Area Group
Annual Conference 2017 (pp. 1-8).
Le, T.H. and Karlsson, M., 2017. A review of the Kano model: A case study on online travel
agencies.
Martin-Fuentes, E. and Mellinas, J.P., 2018. Hotels that most rely on Booking. com–online
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Tran, M.T., Jeeva, A.S. and Pourabedin, Z., 2016. Social network analysis in tourism services
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Vellas, F., 2016. The international marketing of travel and tourism: A strategic approach.
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