Wanderlust 1

Wanderlust
“The Adventure Continues…”

A Business Plan

In Partial Fulfillment of the Requirements in Business Correspondence

Mercado, Joyce Denise V.

III-BSA-Kindness

December 2022
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TABLE OF CONTENTS

Executive Summary………………………………………………………………………………3

Company Overview………………………………………………………………………………5

Products and Services…………………………………………………………………………….8

Market Analysis………………………………………………………………………………….11

Strategy and Implementation………………………………………………………………….....17

Management Team………………………………………………………………………………20

Financial Plan……………………………………………………………………………………28

Appendices………………………………………………………………………………………30
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EXECUTIVE SUMMARY

The Travel and Tourism Industry has been in unprecedented growth for the past years.

Borders have been opened which has provided an opportunity for people to travel. This has led to

the discovery of diverse cultures, heritage, and cuisine thereby allowing people to trace the rich

history of different places all over the world.

The industries are rapidly and continuously growing as the number of tourists continues to

rise. The travel restrictions lifted due to the relaxation of safety and health protocols during the

COVID-19 pandemic led to an opportunity for Wanderlust to venture into the market. Wanderlust

aims to help people achieve their travel desires and turn them into reality.

A. Company Overview

Wanderlust is a travel and tours agency that will provide services to people to address their

hesitancy to make their travel dream come true. It is a general partnership that is set to commence

in the post-pandemic era for the demand for travel is relatively high.

B. Products and Services

This section presents the available services for customers who wish to travel. Initial

services include customizable package tours, organized trip itineraries, flight ticket booking, and

hotel reservations.

C. Market Analysis

This part describes the market including the industry, customer segments, and existing

competition. Porter’s Five Forces Model was also used to analyze different factors and devise

strategies that will keep the competitive edge of the business.

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D. Strategy and Implementation

The following strategies were devised: SWOT Analysis and Jerome McCarthy’s 7Ps of

Marketing Mix to help the business plan on how to use its edge over the competitors.

E. Management Team

The employees are the assets of the business. Highly skilled and competitive employees

will be employed to help in achieving the goals of the business and delivering excellent services.

F. Financial Plan

The initial capital will come from partners and loans from financial institutions. The funds

will be utilized to start the operations of the business, off-setting expenses as well as plan for its

growth and expansion once it generates stable income.

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COMPANY OVERVIEW

Industry

The Travel and Tourism Industry is one of the most prominent and fastest-growing sectors

in the world. The Tourism Industry pertains to people traveling from one location to another for

business or pleasure for a short period of time. Travel Industry refers to people going on long-

distance, short-distance, overseas, domestic, or other various forms of travel for different purposes.

It greatly impacts economic, social, cultural, and environmental development that leads to

economic growth, job creations and wealth, encouraging investment, promoting trade, increased

understanding, and embracing diversity. This leads to changing people’s lives for the better.

The emergence of the sector within a country plays a vital role in different aspects. People

formulate their businesses related to the industry thereby providing employment opportunities to

others. This contributes to economic growth, human capital development, and upward social

mobility. The rich culture and heritage are preserved through arts and different forms which

strengthens the local indigenous people and their communities. Nature becomes protected as it is

provided with ways on how to conserve its beauty.

At the macro level, the Travel and Tourism Industry contributes to the international

engagement and cooperation of different countries all over the world. This leads to encouraging

investments, fostering understanding, keeping close relations, addressing global issues, and

gearing towards sustainable development goals.

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Background

Traveling is part of a person’s dreams. Traveling allows a person to explore different

places, do exciting escapades, try exquisite cuisine, discover rich cultures and heritage, embrace

and celebrate diversity, and escape reality. It is hard to achieve it because there are a lot of

considerations to make such as health, time, and money.

The Travel and Tourism Industry continues to grow despite the circumstances that arise.

With the relaxation of safety and health protocols due to the COVID-19 pandemic, people begin

to plan their next adventure to give themselves some time to relax and enjoy after the challenging

times. However, they find it difficult to plan everything because of the long list of adventures they

wish to experience. This led to a great idea coming aboard paving the way for the birth of

Wanderlust.

Wanderlust is a travel and tours agency that will be providing services to address the

dilemmas of people who are hesitant to make their travel dream come true. It also aims to promote

the rich and diverse culture of different places in the country and all over the world.

It is named after the word “Wanderlust” which means a strong or extreme desire to travel.

It is a form of expression used to describe a person who has the urge to explore different places.

This is the perfect representation of every person who wishes to seek some peace, relaxation, and

a quick escape to reality in the form of traveling. The tagline “the adventure continues” serves as

a reminder to people that adventure does not stop whenever they don’t travel. The adventure

continues because there is still a long journey toward achieving their travel desires.
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The business structure shall be a general partnership in which the partners agree to share

equal responsibilities on assets and liabilities in the jointly-owned business.

Location

It is to be located at SM City Clark Skyline Tech Hub 8, Clark Freeport, Angeles,

Pampanga which is a great area that is accessible to individuals, couples, and groups. It is the

perfect place for the agency to attract potential customers and acquire great growth opportunities.

Vision

Wanderlust envisions:

• To create a world where people will stop hesitating on making their extreme desire

to travel come true.

• To be recognized for the quality of services we offer that contribute to the

continuous rise of the travel and tourism industry in different parts of the world.

• To become one of the best travel agencies in the country.

Mission

Wanderlust is committed:

• To deliver excellent quality services to people that will help them achieve their

extreme desire to travel that will exceed their expectations and lead to satisfaction.

• To provide hassle-free travel that will save people’s time and money making their

experience more memorable.

• To contribute to the development of social, cultural, economic, and environmental

factors in different countries all over the world.

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PRODUCTS AND SERVICES

Wanderlust will have a variety of services that will help individuals, couples, or groups to

achieve their extreme desire to travel locally and internationally. A free travel consultation can be

availed by visiting the office. Services provided will initially include package tours which can be

customized, organized trip itineraries, flight ticket booking, and hotel reservations. Travel

insurance plans may also be availed.

The full list of services offered will be accessible through the website. For those who will

be availing the services, the Wanderlust Mobile Application will be utilized to track everything

that they need during their travel experience. DSLR Cameras will also be provided to be used

throughout the duration of their travel.

Wanderlust does not only offer services but also knowledge and expertise that can

contribute to the satisfaction of its customers. Variations and other arrangements may also be made

in order to meet the customers’ desires halfway. Every service corresponds to reasonable rates.

In the near future, additional services will also be offered such as passport appointments,

visa processing, and other accommodations that can help in making the travel experience of

customers more convenient.

A. Package Tours

A tour that may be guided or not by a tourist guide. It is a pre-arrangement that

combines more than two travel components such as airfare, airport transfer,

accommodation, recreational activities, and other services.

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• Local

o Tracing the Roots of the Pearl of the Orient Sea – all about history, culture

and heritage.

o But first, Philippines – the perfect start of an adventure.

o In Philippines, with Love – explore certain places in Luzon, Visayas and

Mindanao.

o The Rare Gems – discover places that are yet to be discovered as attractions.

o The Thrill – do exciting escapades and adventures featuring the hottest spots

in the country.

o The Ultimate Island Getaway – feel the ocean life.

o In Seclusion – an escape to reality.

• International

o Tri-city – Three countries tour.

o Multi-city – One tour, different countries.

o The Seven Continents – handpicked countries from the seven countries of

the world.

o Wonders of the World – traverse captivating wonders.

o Asia: The Cradle of Human Civilizations

o Europe: Peninsula of Peninsulas

o America: The Land of the Free

o Africa: The Mother Continent

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• Other Tours

o Educational

o Business-related

o Pilgrimage

o Historical

o Cultural

B. Organized Trip Itinerary

A complete and detailed outline of a travel plan that includes flight schedule,

destinations, hotel accommodations, specific times, side tours, and other means of

transportation.

C. Flight Tickets Booking

An arrangement to reserve a flight ticket in advance for a specific travel date and

destination.

D. Hotel Reservation

An arrangement to reserve hotel accommodation in advance on a specific date and

location.
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MARKET ANALYSIS

Market Segmentation

The travel and tours agency aims to provide services to the population of Angeles City,

Clark, Mabalacat City, and nearby towns and provinces around the location of the business who

are seeking the best travel experience possible. The population consists of different age groups

which are engaged in traveling. These are also places where business ventures are located which

are very keen on their employees’ growth by sending them to different places inside and outside

the country for training and seminars. The main focus is to provide travel worthy experience that

will help people save time and get their money’s worth.

Wanderlust primarily targets the youth and young adults which can be solo travelers, newly-

wed couples, and groups. It is believed that these people are more engaged in exciting adventures

and exploration. However, it is not limited to this certain segment anyone who has the means to

travel from one place to another be it domestically or internationally is a potential customer.

The agency also caters to people from different classes and walks of life. It is trained and

well-equipped to serve a wide range of client bases like business organizations, religious

organizations, politicians, employees, families, and students.

Industry Analysis

According to the 2021 Travel & Tourism Development Index (TTDI) Report, travel, and

tourism development are needed as it plays a crucial role in the global economic recovery by

providing livelihoods for certain populations which were greatly affected by the pandemic. It is a
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major source of export revenue, foreign exchange earnings, and investment. Investing in the said

industry can provide leverage to different economies which can aid in its overall development.

Aside from the challenges which are present, shifting demands have created opportunities for the

businesses inclined in the industry to adapt and be flexible in meeting the demands of the people.

The pandemic has led to the imposition of travel restrictions which has deprived people of

traveling for their own safety. On the post-pandemic, a shift in demand trends in global travel and

tourism is evident. According to the UNWTO Panel of Experts domestic tourism, travel close to

home, open-air activities, nature-based products, and rural tourism are what drive the recovery of

the travel and tourism industry.

The UNWTO World Tourism Barometer - November 2022, Statistical Annex provides data

regarding the percentage change figures from the year 2019 to 2022. The growth figures for 2022

are stronger as compared to 2021. Certain percentage figures for particular months and quarters

are high due to the changes.

Travel demands continue to rise which can be traced through the increase in international

tourism by 182% in the first three months of 2022 as compared to the previous year. The UNWTO

expects international tourist arrivals to reach 55% to 70% of 2019 levels for the year which is

equivalent to a 90% to 140% improvement over 2021.

Competitors

Direct Competitors offering the same services inside the vicinity of SM City Clark include

Ties That Travel Inc., Jupiter Travel and Tours and Shadow Travel and Tours. Each one of them
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has already established its name and provided services in the industry for years. There are a lot of

direct competitors which will make the competition tough. The other competitors surrounding the

area are:

• RJ Shin Travel and Tours

• CT Max Travel and Tours

• BFF Travel and Tours

• Amega Travel and Tours Services

• J. Cem Choice Travel and Tours

• Gng Travel and Tours

• Beeway Travel and Tours

• Beeline Travel Services

• Filipino Travel and Tours

• SS Air Travel and Tours

• M. D. C. Travel and Tours

• Air Flags Travel & Tours

• Wild Orchid Travel and Tours

• Majika Travel and Tours

• Eurogate Travel & Tour

• Majemah Travel & Tours Corporation

• Metrosky Travel and Tours

• DNC Travel & Tour

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• Global Access Travel & Tour

• Brander Travel & Tours

• Gocation Travel and Tours

• Airflags Travel and Tours

• ATTC Travel and Tours

• Loma Travel and Tours

• City Travel and Tours Corp.

• Swaggy Travel and Tours Co.

• Jersky Travel & Tours

• Skyclark Travel & Tours

• Ecozone Travel and Tours

• Jasmin Travel Agency

Indirect Competitors include freelance travel agents and online booking websites that offer

affordable prices to attract customers. Another threat is the Klook which is a very popular

companion to travelers nowadays for the convenience it brings and the prices it offers.

Porter’s Five Forces Model Analysis

Porter’s Five Forces Model will be used to analyze the industry and how the five

competitive forces influence profitability. It will also aid in developing a strategy that will enhance

Wanderlust’s competitive edge that will help create its customer base.
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Threat of New Entrants New entrants provide innovative ways of doing

business in the travel and tourism industry. This puts

medium pressure on Wanderlust through providing

discounts and promotions to encourage customers to

avail services.

Bargaining Power of Suppliers A large number of suppliers are available in the

market. Prices depend on certain services and

seasons. The price makes one over the other on the

edge. In case of high prices from suppliers, there is

low pressure on Wanderlust for it can easily switch to

other suppliers with lower costs.

Bargaining Power of Buyers Buyers influence the demands and trends in the

market. They are seeking the best offers at the best

price possible. Customers can easily switch to

alternatives because there are a lot of available

alternatives in the market. This puts Medium Pressure

on Wanderlust.

Threat from Substitute Products Substitute Products are available in the market with

low substitution costs while ensuring high product

quality. This poses a Medium Pressure on

Wanderlust.
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Rivalry among the existing players. The existing competitors in the same industry add

high pressure to Wanderlust. This is because the

business is new in the industry itself.

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STRATEGY AND IMPLEMENTATION

SWOT Analysis

Strengths Weaknesses

• Customizable services. • New in the market.

• Good and reasonable prices. • No established customer base.

• Customer satisfaction is an utmost • Unestablished reputation.

priority.

• Highly-skilled and competitive

employees.

Opportunities Threats

• Post-pandemic demand for travel. • Competitive Market.

• Partnerships with hotels and airlines. • Visa Restrictions on certain countries.

• Expansion in the near future. • Uncertainties due to weather

conditions, economic conditions and

political disruption.

• Health Risks due to COVID-19

pandemic.
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Competitive Edge

Wanderlust will look into satisfying its customers while ensuring that quality services will

be delivered especially this holiday season. Through promotions and advertisements, the business

will seek to create a customer base within the geographical location.

Marketing Strategy

Wanderlust aims to cater to individuals, couples, or groups who are part of the youth and

young adults. The target market will initially be focused within the vicinity of the location.

Social media will be used in advertising the services. Facebook and Instagram will help in

boosting sales and increase engagement. Daily advertisements will be posted on these social media

networking sites to disseminate information.

A website will also be set up intended to showcase the services being offered. This is also

where they can book the services if they wish to keep the transaction online. Weekly blogs will

also be posted regarding the current trends in the tourism industry which can give potential

customers ideas on their next travel adventure. Former clients can also provide their feedback and

testimonials regarding their past transactions with the business together with the pictures which

can help in establishing a good reputation in the field of the tourism industry.

The print media will not be used for now to minimize the risks of the COVID-19 pandemic.

In the near future, broadcast media will also be utilized to help in reaching a wide range of

customers.
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Jerome McCarthy’s 7Ps of Marketing Mix

Jerome McCarthy’s 7Ps of Marketing Mix will be utilized to establish a unique selling

proposition to reach the target market.

Product High quality services suitable to meet the travel needs and demands.

People Competent and highly skilled employees are ready to fulfill the travel

needs and demands of customers of different demographic profiles.

Price Reasonable and affordable services.

Promotion Discounts, Promotions and Advertisements are used to attract customers.

Place Situated in an accessible location.

Physical Evidence Testimonials will be posted on the Physical Office, website and social

media accounts of the business to encourage potential customers to avail

services.

Process Delivery of services is well-planned and executed. The use of the

Wanderlust Mobile Application will also be helpful to guide customers

in their travel experience.

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MANAGEMENT TEAM

Wanderlust firmly believes that the employees are the important assets that drive the

business toward success. The skills, abilities, knowledge, experience, and expertise of employees

are essential factors in achieving the goals and objectives of the business. It is also vital that

employees share the same values with the business itself. The following are the experts needed in

the business:

General Manager

• Oversee day-to-day operations

• Design strategy and set goals for growth

• Set policies and processes

• Ensure employees work productively and develop professionally

• Oversee recruitment and training of new employees

• Evaluate and improve operations and financial performance

• Direct the employee assessment process

• Prepare regular reports for upper management

• Ensure staff follows health and safety regulations

• Provide solutions to issues

Assistant General Manager

• Cooperating with the general manager, and assisting with anything from project

planning to staff management.

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• Nurturing positive working relationships.

• Delegating daily tasks.

• Addressing any issues in a timely manner.

• Ensuring company policies and procedures are followed.

Travel Manager

• Maintaining positive relationships with vendors of direct travel, such as car rentals,

hotels, and airlines.

• Negotiating preferred rates with vendors of direct travel.

• Planning travel accommodations, booking flights, hotels, car rentals, and coordinating

activities.

• Assisting with any travel-related issues that may arise.

• Researching travel deals and evaluating prices and services.

• Keep learning about latest industry trends.

• Attend webinars, conferences and other educational programs.

Travel Consultant

• Research, explore and study different travel destination options.

• Research destination and travel prices, customs, weather conditions and reviews.

• Research and study clients’ specifications and wishes.

• Suggest suitable travel options that best suite clients' needs.

• Plan and organize travels.

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• Inform clients and provide useful travel material such as guides, maps and event

programs.

• Offer and promote different services and offerings.

• Build and maintain relationships with clients.

• Managing and processing all travel-related documentation, including payments,

itineraries, visas, medical, and legal forms.

• Helping plan travel itineraries by suggesting tourist attractions and places of interest.

Ticketing and Reservations Officer

• Able to make accurate bookings for customers.

• Answer questions about travel arrangements.

• Re-book tickets and other arrangements.

• Assisting and advising customers who may be choosing from a variety of travel

options.

• Checking the availability of accommodation or transportation on the customers’

desired travel dates.

• Processing payments and sending confirmation details to customers.

• Sorting out any issues that may arise with bookings or reservations.

• Up-selling, when appropriate, by informing customers of additional services or

special packages, such as tour tickets, travel insurance, or upgraded

seats/accommodations.

• Providing support to customers who may need to amend or cancel a reservation.

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Liason Officer

• Acting as contact points for all agency or organizational personnel.

• Keeping lists of the agencies or personnel representing the person, agency or

organization.

• Facilitating meetings and cooperation among people, agencies and organizations.

• Identifying problems in communications among these groups.

• Collaborating and communicating with necessary constituents and the public.

• Conducting post-mortems when an incident is wrapped up.

Sales and Marketing Manager

• Developing marketing strategies, sales strategies, marketing plans and sales plan.

• Identifying marketing opportunities and developing marketing opportunities.

• Build client relationships.

• Running marketing campaigns.

• Developing the sales process and analyzing sales data.

• Overseeing the design of marketing materials.

• Conducting market research.

• Ensuring the department hits its sales target.

Marketing Officer

• Managing and developing marketing campaigns.

• Researching and analyzing data to identify and define audiences.

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• Conducting promotional activities.

• Organizing and distributing financial and statistical information.

• Overseeing campaigns.

• Evaluating the effectiveness of campaigns.

• Reporting on trends and statistics across all digital media platforms.

Sales Officer

• Analyze client data and purchasing behavior from customer relationship models.

• Analyze client portfolio to understand client segmentation.

• Apply consultative selling techniques to identify clients' needs.

• Assist in preparation of sales proposals.

• Conduct research on market trends in technology applications to improve productivity

and innovation.

• Follow up on networking interactions and leads.

• Follow up with clients to close sales.

• Generate sales leads.

• Monitor competitors and customer demand to provide market intel for strategy

development.

• Provide email, social media or telephone responses to customer inquiries.

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Finance Manager

• Provide financial reports and interpret financial information to managerial staff while

recommending further courses of action.

• Advise on investment activities and provide strategies that the company should take.

• Maintain the financial health of the organization.

• Analyze costs, pricing, variable contributions, sales results and the company’s actual

performance compared to the business plans.

• Develop trends and projections for the firm’s finances.

• Conduct reviews and evaluations for cost-reduction opportunities.

• Manage the preparation of the company’s budget.

• Correspond with various other departments, discussing company plans and agreeing on

future paths to be taken.

Finance Officer

• Keep accurate records for all daily transactions.

• Prepare balance sheets, process invoices, record accounts payable and accounts

receivable.

• Update internal systems with financial data.

• Prepare monthly, quarterly and annual financial reports.

• Reconcile bank statements, participate in financial audits, track bank deposits and

payments.

• Assist with budget preparation.

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• Review and implement financial policies.

Cashier

• Registering sales and issuing receipts.

• Cross-selling and upselling services.

• Balancing the cash drawer at the beginning and end of a work shift.

• Provides a positive customer experience with fair, friendly, and courteous service.

• Resolves customer issues and answers questions.

• Itemizes and totals purchases by recording prices, departments, taxable and

nontaxable items; and operating a cash register.

• Enters price changes by referring to price sheets and special sale bulletins.

• Collects payments by accepting cash, check, or through credit card payments from

customers.

• Verifies credit acceptance by reviewing and recording driver’s license number; and

operating credit card authorization systems.

• Maintains a safe and clean working environment by complying with procedures,

rules, and regulations.

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Organizational Chart

Position Number of Employees

General Manager 1
Assistant General Manager 1
Travel Manager 1
Travel Consultant 1
Ticketing and Reservations Officer 1
Liaison Officer 1
Sales and Marketing Manager 1
Marketing Officer 1
Sales Officer 1
Finance Manager 1
Finance Officer 1
Cashier 1
Total 12
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FINANCIAL PLAN

The initial investment needed for the business to operate will be coming from different

sources such as partners and financial institutions. The partners will contribute equally to the

amount of ₱5,000,000 using their savings. Additional capital amounting to ₱3,000,000 borrowed

from financial institutions will be used for the primary operations of the business. It will also be

allotted to offset the expenses upon the start of business operations such as registration and license

fees, start-up fees, rent and security deposit, office supplies, and office equipment.

The first two-quarters of the business operations are expected to incur losses and have slow

growth. This is due to the start-up status and seasonal factors. Discounts, promotions, and

advertising costs will also be incurred. The following quarters will start to increase in gross margin

and sales volume.

The revenue is projected to grow at a 5% - 20% yield in the next few years. The figures are

based on the current situations and important considerations that may affect people’s demand for

travel, especially in the post-pandemic era. It can also have a 30% - 50% increase depending on

the situations that may encourage more people to travel wherein the business may have finally

established its reputation in the market.

Eventually, the business will generate steady revenues which can be used for the continuous

growth and improvement of the business. It will also be sufficient to pay loans and avoid

accumulated interest.
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This table shows the allocation of the initial capital of the business.

Initial Capital
400,000, 6%
250,000, 3%
Working Capital
1,000,000, 14% Registration & License Fees
Start Up Costs
Rent
300,000, 4% 3,625,000, 50% Security Deposit
Office Supplies
500,000, 7% Office Equipment
Advertising

1,000,000, 14% Utility Bill

75,000, 1% 100,000, 1%
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APPENDICES

A. References

How does the future look for the global tourism sector? (2022, July 8). World Economic

Forum. https://www.weforum.org/agenda/2022/06/international-travel-2022-covid19-tourism/

Travel & Tourism Development Index 2021: Rebuilding for a Sustainable and Resilient Future.

(n.d.). World Economic Forum. https://www.weforum.org/reports/travel-and-tourism-

development-index-2021/in-full/4-key-findings/

UNWTO World Tourism Barometer - November 2022, Statisticcal Annex. (2022,

November). https://www.developmentaid.org/api/frontend/cms/file/2022/11/UNWTO_Barom22

_06_Nov_Statistical_Annex_en.pdf

B. Business Logo
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C. Products and Services

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D. Location

E. Floor Plan
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F. Virtual Representation

G. Marketing Poster
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H. Wanderlust Website

I. Wanderlust Mobile Application