BUSINESS IDEA- TRAVEL WEBSITE ( the business idea is attached below to give you an idea about what business I am working on). Brief Description In this unit, you will understand the importance of a f
Running Head: BUSINESS IDEA 0 Business Idea Gurleen Kaur 2019081614 Yorkville University BUSI 4046/4053- Final business plan Professor Nathan Arney Wednesday, October 19, 2022 Part 1: Business Ideas Introduction Establishing and growing of business is important for the individuals involved. The ability of the business to be able to survive into the future relies on the ability of the company to overcome competition. When the business can develop and grow then the likelihood of getting out of the market is minimized (Rauch & Rijskik, 2013). Starting a business is important for the company as well as the owners of the business. When the business can grow they are most likely to expand to new regions (Davidson et al., 2010). There are different business ideas that I have which I will look at and rank the one which I will be able to start since it’s the high-ranking one. Business idea For my business, I have three main business ideas that are restaurant business, sports clothing, and travel website. Three of these ideas are unique and profitable. But out of these, I have chosen only one for a final business plan. So, My business idea that I am desiring to develop is a travel website that assists people in knowing where they can affordably go as well as enjoy. There are internal and external factors that could affect this business idea. Internally there is some nation that has got strict rules concerning health, safety as well as security for protecting tourists, there is a challenge with accessibility, lacking some products ad services, the challenge in accessing quality goods and services, the value of the money plus the marketing campaigns which will affect the popularity of the website. Externally the website will be impacted by the exchange rate, competition from other websites, restrictions in traveling, emerging new markets, and weather where tourists will not be assured of good weather where they are heading to. For all people who are looking for something exciting and rememberable, I have a really good platform, that is ‘travel with us, this is a website for this travel worldwide. Our website will give an affordable and comfortable chance to people who want to travel but don’t have much knowledge and experience. This website will give them a wonderful experience, as we will provide guides for the people who really need them. By this even we our generating employment for people who want to travel and work, so this platform would be very beneficial for those employees. Last but not least, as every business needs to be profitable, so for that we take different charges from every customer, so, first of all, there are some registration charges for people who want to travel with us and need guidance for their trip like how much it expenses them, which location would be affordable and enjoyable for them as per there budget and so on. It would be free guidance for people who register with us for a year. Then depending upon the location and number of people etc. we will charge the trip charges. All the information is on the website, we are here whenever they need us. Our tagline is ‘YOU NEED US, THE WORLD NEEDS YOU’. References Davidsson, P., Achtenhagen, L., & Naldi, L. (2010). Small firm growth. Foundations and Trends in Entrepreneurship, 6(2), 69-166. http://dx.doi.org/10.1561/0300000029 Rauch, A. & Rijskik, S.A. (2013). The effects of general and specific human capital on long-term growth and failure of newly founded businesses. Entrepreneurship Theory and Practice (3), 923-941