|



   

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Jigar Patel
Ankit Patel
Nikhil Chand
Pooja Velinker
Manthan Gajjar
 2

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-
G INTRODUCTION
G INDUSTRY OUTLOOK
G COMPANY QVERVIEW
G SERVICE THEY ARE IN
G BACKGROUND OF
ENTERPRENEUR
G ORGANIZATIONAL CHART
G BOARD OF ADVISORS
G ORGANIZATIONAL PLAN
G TARGET MARKET
G COMPANY RESOURCES
G OPERATIONAL PLAN
G POTENTIAL COMPETITORS
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G MARKET SEGMENTATION
G MARKETING PLAN
G MARKETING STRATEGY
G DIFFERENTIATION STRATEGY
G SWOT ANALYSIS
G PEST ANALYSIS
G 7͛S
G RISK FACTORS
G FINANCIAL ANALYSIS
G ESTIMATION
G SNAPSHOTS OF WEBSITES
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  The travel and tourism industry is a leader in E-commerce

  On-line sales of travel surged over 200 percent in 2001 increasing from
$3.1 billion to $8 billion in 2001
  Expected to generate almost three times as much revenue as originally
predicted, surging to $20 billion in 2002
  Total travel spending is forecast to grow 4.2 percent annually, increasing
from $502 billion in 1998 to $630 billion in 2003.
  The primary transportation sectors in the travel and tourism industry are
airlines, rental cars, railways, and cruise lines.

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  Tourism in the United States is a large industry that serves millions of

international and domestic tourists yearly
  Tourists visit the US to see natural wonders, cities, historic landmarks and
entertainment venues.
  Americans seek similar attractions, as well as recreation and vacation
areas
  Tourism in the United States grew rapidly in the form of urban tourism
during the late nineteenth and early twentieth centuries
  By the 1850s, tourism in the United States was well-established both as a
cultural activity and as an industry

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G New York, Chicago, Washington D.C and ,San Francisco all major US cities,
attracted a large number of tourists by the 1890s
G By 1915, city touring had marked significant shifts in the way Americans
perceived, organized and moved around in urban environments
G Democratization of travel occurred during the early twentieth century
when the automobile revolutionized travel
G Similarly air travel revolutionized travel during 1945ʹ1969, contributing
greatly to tourism in the United States
G By 2007 the number of international tourists had climbed to over 56
million people who spent $122.7 billion dollars, setting an all time record

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  The travel and tourism industry in the United States was among the first
commercial casualties of the September 11, 2001 attacks, a series
of terrorist attacks on the US
  Terrorists used four commercial airliners as weapons of destruction, all of
which were destroyed in the attacks with 3,000 casualties
  In the US, tourism is either the first, second or third largest employer in 29
states, employing 7.3 million in 2004, to take care of 1.19 billion trips
tourists took in the US in 2005
  As of 2007, there are 2,462 registered National Historic Landmarks(NHL)
recognized by the United States government

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G As of 2008, the most visited tourist attraction in the US is Times

Square in Manhattan, New York City which attracts approximately 35
million visitors yearly
G The travel and tourism industry in the United States was among the first
commercial casualties of the September 11, 2001 attacks, a series of
terrorist attacks on the US
G Terrorists used four commercial airliners as weapons of destruction, all of
which were destroyed in the attacks with 3,000 casualties
G In the first full week after flights resumed, passenger numbers fell by
nearly 45 percent, from 9 million in the week before September 11 to 5
million

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  Hotels and travel agencies received cancellations across the world

  The hotel industry suffered an estimated $700 million loss in revenue
during the four days following the attacks
  The situation recovered over the following months as the Federal
Reserve kept the financial system afloat.
  The U.S. Congress issued a $5 billion grant to the nation's airlines and $10
billion in loan guarantees to keep them flying
  In the US, tourism is either the first, second or third largest employer in 29
states, employing 7.3 million in 2004, to take care of 1.19 billion trips
tourists took in the US in 2005

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G The US outbound holiday market is sensitive in the short term, but

possibly one of the most surprising results from the September 11, 2001
attacks was that by February 2002 it had bounced back for overseas travel,
especially to destinations like New Zealand
G This quick revival was generally quicker than many commentators had
predicted only five months earlier
G The United States economy began to slow significantly in 2007, mostly
because of a real-estate slump, gas prices and related financial problems
G Many economists believe that the economy entered a recession at the end
of 2007 or early in 2008.Some state budgets for tourism marketing have
decreased, such as Connecticut which is facing soaring gas prices

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Canada 16,691 17,274 17,847 18,409 18,960
Mexico 13,717 14,127 14,529 14,921 15,304
Europe 10,951 11,407 11,822 12,230 12,632
Asia 6,348 6,710 7,050 7,390 7,730

South America 2,166 2,267 2,367 2,466 2,564

Caribbean 1,277 1,316 1,355 1,394 1,431

Central
737 768 798 829 860
America
Oceania 804 838 872 905 937

Middle East 600 622 644 666 688

Africa 270 282 294 306 317

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  For the past 20 years the American Tourism Society has been providing
exclusive access and business networking for transformational
destinations
  ATS is an organization of experienced tour operators, destination tourist
offices, hotels, airlines and other travel industry professionals who
collectively generate over four billion dollars in sales involving three
million North American travelers
  Marked by the fall of the Berlin Wall, the end of the Cold War and a
reunified Europe

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G The American Tourism Society (ATS) was founded as a non-profit, non-

political destination marketing organization during one of the most
challenging years in modern history, 1989.
G By merging business know-how with the core values of sustainable
tourism, ATS serves as abridge of communication and understanding
between countries and peoples of the world.
G ATS lends priority access to internationally known travel companies
through overseas conferences, travel marts and seminars in regions of
interest to ATS and its members.
G Additionally, ATS organizes showcases for these regions in the U.S.

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  Through its collective expertise of enterprise, marketing, educational

initiatives and promotion, ATS provides visibility in trade publications and
networking among tourism interests.
  ATS also maintains reciprocal memberships with other industry
organizations such as the United States Tour Operators Association and the
Baltic Tourism Commission.
  ATS works for its membership - here and abroad - as an indispensable link
to government agencies.
  From branding to product development, ATS is a reference point for
travel-related companies seeking access to the North American market

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  Services will include a web site where customers can create their own
customized vacation package or choose from the pre-set travel packages
of the week and chat with people who are also interested in traveling
with them.
  Customers will also be able to locate travel buddies if they have an idea of
a destination, but do not have a large enough group for traveling.

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  Kim Peters was born in Amherst, Massachusetts and graduated near the
top of her class at Amherst High School.
  She is currently earning a general management degree in marketing and
human resources.
  She has worked in a variety of organizations, ranging from small
entrepreneurial firms (Mann & Co.) to large corporations (The American
Red Cross).
  She has experience in customer service and promotions.
  As president of the Company, Kim will be responsible for strategic
development, hiring, firing, major asset acquisition, and capital
expenditure decisions.
  Her day-to-day activities will involve establishing corporate partnerships,
training and supervising employees, and dealing with major customer
service problems.

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  She was born in Sydney, Australia and is currently earning her Bachelor͛s
degree in Finance and Marketing at Boston College.
  Through her coursework and academic experience, she has acquired
knowledge on the various aspects of finance.
  Her employment in the largest bank in Singapore helped her develop her
analytical skills.
  Responsible for finance, accounting, payroll, billing, taxes, check signing,
and any other matters related to sales and revenue budgets.
  She will also be in charge of the financial statements and be responsible
in choosing an appropriate accounting firm

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  He worked in the John Hancock Agency in Boston as a Management

Information System Intern.
  He responsibility as a public relations manager include overseeing the
customer service aspect of the Company.
  He will be in charge of handling customer complaints and the hiring of
customer service representatives in the future.
  He will develop the customer service toll-free hotline that will be
introduced.

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  Her experience of serving customers, arranging trips, making
reservations, and issuing tickets over the computer will enable the firm to
efficiently start its operations.
  She has three months of experience as a registration representative at Sky
Perfect TV in Japan, where she assisted customers with registration over
the phone and supported them with the appliances͛ technical problems.

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  She is currently on exchange at Boston College from a business school in
France.
  Her courses include Introduction to Marketing, Statistics, International
Marketing and Entrepreneurship.
  Her work experience includes a stint at Cora Supermarket where she was
in charge of sales analysis in the food department
  Her responsibilities include the hiring and firing of employees as well as
training and supervision.
  She will also handle all purchases needed for the office

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  Mr. Henry Chuang

  Professor Maria Sannella
  Professor Mary Cronin
  Courtney Wark

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  Pegasus will be established as an S-Corporation.

  The principal shareholders will each assume an equal stake in the
business.
  A significant advantage of the S-Corporation is the ability to avoid double
taxation.
  The other benefit from being an S-Corporation is that the shareholders
retain the limited liability protection of a C-Corporation.
  Shareholders are only liable for the amount of their investment.

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G Pegasus targets the senior population (55 years old and over).
G Seniors tend to have more money and time, and travel more for leisure
purposes.
G The number of seniors using the Internet is expected to increase
substantially in the near future.
G The actual number of seniors however will be exploding, as the baby
boomers move into this range.
G Reports indicate seniors spend 8.3 hours per week online, even more than
the average college student.
G Older Internet users have and use the most credit cards, presents Pegasus
with major opportunities for growth and high returns.

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  The operational plan includes the business model of Pegasus and also
their journey from idea generation to receiving revenue at the end of 1
year.

Process Flow

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Pegasus Travel

Sales
àepresentatives
àeservation Agency
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  Traditional travel agencies

  Online travel agencies
  Airlines

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G It provide travel information and tour bookings to their customers mostly

through the phone, and face-to-face meetings.
G While traditional travel agencies do not offer ͞24 x 7 access,͟ they are
making up for this disadvantage by providing the ͞personal touch͟ that
the Internet does not provide.
G The Financial Times reported that 62% of every dollar spent by the U.S.
web shoppers is going to brick and mortar retailers that have online
operations.
G NPD Online Research revealed that 56% of on-line travelers reported
having completed reservations with a traditional agent after visiting a
travel-related site.

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  Sales growth to decrease due to the advent of Internet travel resources,

  The traditional travel agency has had a compound average growth rate of
6% over the past few years.

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  Provide more personalized service   Revenue declining, as more and

  Seeing increase in number of referrals more travelers migrate toward
from online travel agencies online services
  Provide a sense of security that the   Commission cuts by airline
Internet cannot companies
  Provide research and booking services   Charge high booking fees to pay
for customers. Consumers prefer to overhead expenses
book tours through traditional travel   Do not offer 24 x 7 customer
agencies. access

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G It provide travel planning on the Internet, enabling the consumer to

compare costs and services at an easier, quicker pace.
G Most people use the Internet as the essential tool for acquiring travel
information.
G It offer the consumer the convenience of 24-hour access and flexibility.
G Online travel can be broken down further into three categories:
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G Ability for traveler to choose different
air fares at reduced prices
G Low start-up costs
G Most frequently used e-commerce
service on the Internet
G Offers other services such as
personalized weather reports, stock
quotes and airline-specific ͞fare alerts͟
G Low overhead costs
G In1999 online travel revenues
accounted for more than 30% of all B-
to-C revenues
G Large untapped market potential in
Europe, Asia and Latin America D
 

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G Difficult to automate
personalization and ͞human touch͟
with the efficiency of the Internet
G Takes considerable time and energy
to effectively research all the best
online fare options
G Online credit fraud is a major
concern of Internet users
G Requires consumers to be Net savvy
G Although 45% of all vacation travel
is now researched on the Net, only
4%of sales are actually booked
online
   
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G An adopting a combination of traditional, and online travel agent services.

G Airlines sell their tickets directly to the consumer, bypassing service fees
that the agencies charge.
G The customer might not have as much flexibility in choosing among
different fares, airlines reward customers for their loyalty through perks
such as frequent flyer programs.
G Airlines are concerned with organizations such as |

 and   

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who are luring away many customers,
G It have retaliated by forming an alliance named º

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sells discounted airfares for ͞distressed seats,͟ seats that are still empty at
the last minute

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G Offer both traditional and online
services
G Established brand name
G Ability to offer unsold seats at a
very low and competitive price
G Do not charge extensive service
or booking fees associated with
traditional Travel agents
G Increasing use of e-ticketing
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G Customers have little or no loyalty
to a particular airline
G 60% of carriers identified their
own web site as the most
important element of their online
presence, but only 50% of these
airlines actually !  tickets
electronically
G High overhead (i.e. selling and
marketing expenses)
G Heavily relies on travel trade to
sell about 85 % of its tickets
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  One of the important factor as it influences a consumer͛s travel choices.

  Customer will expect the value for the price paid.
  Customer opts for an expensive tour, he/she will expect better hotels,
superior customer service.
  Lowest possible price will forgo the extra frills.

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  A second factor which influences market segmentation is the age of the

customer.
  On the basis of age the marketing strategy and type of products and
services to be offered also gets decided.
  The age range of the travel industry is large, ranging from college students
to retirees.
  For example, a tour agency targeting college students might advertise low
priced tours at locations such as Cancun and Jamaica for spring break.
  On the other hand, business oriented agencies might reach their
customers by the quality of accommodation and services provided.

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  The short-term goal of the Company will be to reach $1 million in gross
sales in the eighth month
  Approximately $1.8 million by the end of the first year
  Pegasus predicts to have losses in the first three years of its operation, but
with later entry into the European market, will achieve profits of
approximately $700,000 in year five
 1
  $29 billion consumers are expected to spend in online travel and tourism,
Pegasus͛s goal will be to achieve about .01% of that number for its market
share
  Seniors and baby boomers amount to 55 million people
  Pegasus expects to have market penetration of .02% or 11,000 customers
after three years of operation
  Market increase steadily at a growth rate of 5% each year
  Marketing strategy and promotion program section, Pegasus will partner
with info-mediary services such as º  and  in its first year of
operation
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  With the help of these partnerships, the Company plans to have a
distribution network covering approximately 45% of the market
  The Company also seeks to create an awareness level index of 65% by the
third year of its operation
  Company will outsource its web site development, and operation, to a
more experienced and professional web company
  Pegasus will also receive a sales commission of 8.5% on every transaction
that is made by each of its agents
  Media campaign will cost Pegasus about $1 million in the first year
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  The firm͛s offering of both online and ͞face-to-face͟ customer service
  24-hour service is important in achieving a competitive advantage
  Targeting a specific market
  Alliance with travel agencies in Europe
  Employees are capable of speaking more than one language
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  Lack of a partnership with an airline
  The firm to demand immediate payments to customers before the airfare
increases
  The firm anticipates operating only one retail location initially, customers
who prefer ͞face-to-face͟ service might have to visit the office directly
 || 
  Large market potential
  The Company is focusing on the domestic market, having a strategic
alliance with other travel agencies around the world
  Pegasus will broaden its services to include event packages such as
anniversaries, wedding vow renewal opportunities, and birthday packages
to meet the demands of the market
 ' 
  Health of the economy
  Political and economic status of the countries
  The growth and profits in the industry makes it lucrative for other players
to enter the market
     | 


  Highly customized
  24-hour customer service support as well as a package containing
emergency contacts and guidebooks
  To provide value-added services, which cater to a specific target market
with a definite set of needs
   

  Provide a unique Emergency Customer Service hotline number

  Hire employees who are specifically trained to cater to customer needs in
an emergency situation
 |

  Company will price the tour package competitively without compromising

quality
  25% markup on the entire package
  For example, a trip to Rome might cost $10,000 and Pegasus will then
charge $12,500 to the customer
 
  Distribution channel begins when it receives the airline tickets, car rental,
and hotel bookings from a fare listing service
  The confirmation is immediate, and the ticket can be printed out
  After the relevant documents have been obtained, Pegasus will compile
the package for the customer
  Package mailed to the customer
 | 

  Market to customers online through advertisements on specific sites

  The web sites most used by seniors will be targeted
  Television will be utilized
  The Travel Channel will provide a great outlet to reach the target market
  $40,000 in the first month advertising on the Travel Channel
  $10,000 will go into the travel section of the New York Times and USA
Today
  $2,000 towards banner ads on !
 
  Every winter Pegasus will focus its advertising strategy on television, and
concentrate on print ads in the summer
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  Kimberly Peters ʹ President

  Christa Bentley ʹ Finance and Accounting Manager
  Jack H. Welch ʹ Public Relations/Information Technology Manager
  Yoriko Nomo ʹ Marketing and Sales Manager
  Sandrene Bouchet ʹ Administrative Manager

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  Technology
  Unique service model

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  Centralized organizational structure

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  Providing online support along with traditional support that is solving

query if any by meeting face to face.
  Customized package
  Partnering with info- mediary services such as º  and 
  Providing with the facility of chat with other customers and feedback
system at the end.

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  The development of specific processes, procedures or information

systems to support online marketing.
  Fully online based and in the interest of the customers.

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  Online travel servicing.

  Working also as an intermediary among reservation agents and customers
who want the tour packages.

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  Travel agency that caters to the needs of people aged 55 and above.
  Online web site in which customers can search and browse. There will also
be a chat room that will list the pre-set travel-of-the-week package from
Pegasus.
  The package will also be adaptable to a customer͛s needs, in terms of time,
destination and entertainment.
  customer logs in with his or her username and password, a customer will
be able to chat with others to collect information prior to booking.

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  Website offer a discussion board where customers can post a request to

find travel buddies, for travel ideas which are different from the pre-set
package.
  The space to incur a reasonable rent expense.
  Place has adequate space for computers, printers and also contains a
guest room where customers can share their opinions personally with a
travel agent.

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  According to the findings, political environment of is quite

stable.
  Issues like enlargement of war against terror have had an effect on the
political stability of the government.
  In result of growing awareness of the environmental consequences, USA
Government is planning actions to ensure aviation reflects its
environmental impacts.
  Proposals are emerging for a tax on aviation fuel and VAT on air tickets.
  Government͛s taxation policies and decision about the increasing the
petrol prices have affected the buying power of the individuals in
USA.

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  Economic factors affect the purchasing power of potential customers and

also affect the individual company͛s offerings.
  USA economy is benefiting form gradual low inflation rate.
  In USA, unemployment is low. Job confidence is high and because of this
confidence spending by consumer is also high.
  Exchange rates are favorable for USA residents for travelling abroad
due to strong position of US dollar against the other foreign
currencies.

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  A trend of internet access at home and buying online is very high in the
USA.
  Continued concerns over safety and security while travelling are found
in the USA residents.
  Lifestyle changes have also been affecting the USA travel market for a
number of years.

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  Changes in the technology have changed the way businesses operate i.e.
Internet booking for tickets and holidays.
  Faster changing development in technology creates a need to
react quickly for different businesses in order they want to maintain
the competitive environment by providing the same innovative
services, which their competitors are offering.

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  Any unexpected changes in the economy.

  Government deciding to regulate Internet companies or on-line travel,
due to concerns over security.
  If fraud gets out of control, or if airline security gets compromised new
regulations could increase costs, or force serious changes in Company
operations.
  Trouble in popular vacation sports, such as the conflict in Israel, will affect
travel choices and possible revenues.
  The devaluation of the dollar could also be a significant problem.

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  The office will be located on 1675 Beacon Street.

  Pegasus decided to lease the space to incur a reasonable rent expense.
  The business will require:
Employees
Personnel
Web designers and Web developers
  The equipment that will be needed for this business will be purchased, in
order to avoid overpriced equipment leases.

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G The initial investment of $2,105,185 will be acquired through venture

capitalists and bank loans, which will be paid off over 12 years.
G The invested money from venture capitalists and bank loans will allow
Pegasus Travel, Inc. (͞Pegasus͟) to cover office space, office equipment
and supplies, advertising, technology development, salaries and wages
and utilities.
G Given the low capital intensive nature of the business, the Company͛s
start-up costs and working capital are less than other e-commerce
ventures.
G The Company is willing to offer a reasonable portion of equity to attract
investors.

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G They have assumed equal figures in all the 3 years.

G Selling expenses have been incurred heavily in 1st year and it goes on
increasing till 3rd year followed by salary and wages.
G Advertisement expenses also goes on increasing which shows that they
will heavily spend on advertising in the initial years in order to spread
awareness.
G Depreciation is not provided in 3rd year which we assume that may be
their assets would have to be replaced or to be purchased new as the old
one becomes useless.
G Insurance charges are same for 3 years.

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  Operating expenses have increased much beyond the profit in all the 3
years as their all expenses show increases in all 3 years. This means that in
initial years their aim is to spread awareness, attract more customers and
differentiate themselves from others.
  In the initial 3 years they have not been able to cover the expenses
incurred and therefore are incurring losses for 3 years.
  Even when they are incurring losses they have paid taxes which does not
digest us.

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Sales 130 103 133 140 147 159 162 179 137 156 154 166

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Less: COGS 35 22 41 61 65 85 102 114 82 92 86 98

Gross Profit 95 81 92 79 82 74 60 65 55 64 68 68

Operating
Expenses

Selling 85 60 32 40 60 47 323 40 62 81 82 84
Expenses

Advertising 62 19 18 41 43 28 24 23 25 10 29 31
Expenses

Salaries, 40 38 38 38 41 41 41 52 40 53 45 45
wages

Office 1.6 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 1.4 0.7 0.7
Supplies

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mtilities 0.04 0.04 0.04 0.04 0.04 0.09 0.09 0.04 0.04 0.04 0.04 0.04

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Insurance 0.6 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.8 0.8

Taxes 1.2 1.2 1.3 1.3 1.3 1.3 1.4 1.4 1.4 1.4 1.5 1.5

Depreciation 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27

Ttl Operating 204 124 95 124 126 164 118 125 131 149 161 165
Expenses

Profit (Loss) (109) (43) (3) (45) (44) (90) (58) (60) (76) (85) (93) (97)
before tax

Taxes 0 0 0 0 0 0 0 0 0 0 0 0

Net Profit(loss) (109) (43) (3) (45) (44) (90) (58) (60) (76) (85) (93) (97)

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  Pegasus forecasts its first year sales to be 5% with projected increases of

30% per year as they are spending heavily on their promotional activities.
  The Company budgets 20% of sales for advertising, in order to attract
travelers and increase market share.
  The Company assumes that most sales will occur in August and December,
as seniors are most flexible with their travel plans and the best fares are
offered by the airlines during these months.

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G Pegasus predicts to have losses in the first three years of its

operation, but with later entry into the European market, will
achieve profits of approximately $700,000 in year five.
G The Company will also plan to exploit the anticipated growth of the
European market by capturing another .01% of market share, thus
reaching $10 million in total gross sales revenue by year five.
G The Company will outsource its web site development, and
operation, to a more experienced and professional web company.
G Pegasus will also receive a sales commission of 8.5% on every
transaction that is made by each of its agents.
G The Company will advertise its site heavily in the first three years of
its operation, which contributes to the losses during this time.
G The anticipated media campaign will cost Pegasus about $1 million
in the first year.

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  Pegasus plans to gradually expand into the next largest

market with the most potential ² Europe, and will continue to
offer the same quality service to these new customers.
  Pegasus will also continue to please its customers by offering
special event packages, such as birthdays and golden
anniversaries.
  Furthermore, the Company will begin providing tours for the
disabled, believing that there are very few players in the
market which target this particular segment.

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