BellXpress - Travel Like a Boss
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The document presents a business plan for a luggage storage and delivery service called Solutions. It outlines the problem of tourists needing to store luggage during sightseeing, how the service would work by using local stores and taxis, and the target markets of international and domestic travelers. Details of competition, marketing strategy, pricing, and financial projections are provided, with estimated revenues of $365,000 in year 1 growing to $730,000 in year 2 as the service expands to more cities. The plan is presented by students at Gabelli School of Business for their MS in Business Enterprise.
BellXpress - Travel Like a Boss
- 1. Travel Like a Boss Presented by Lingnan Cao, Chirag Agarwal, Gcinekile and Albert MS Business Enterprise at Gabelli School of Business
- 2. THE PROBLEM
- 3. WHAT IS ?
- 5. Arrive to your destination Look for closest available drop-off points
- 7. 7Solutions www.domain.com INDUSTRY ? Geographic Area? ? New York City ? Other Metropolitan Areas -Eg. Chicago, LA, Boston ? Target Customers? ? International Tourists ? Domestic Visitors ? Industry Growing Potential? ? Storage ? Long term/Larger+More Items ? Shot term/Few+Smaller Items
- 8. 8Solutions www.domain.com COMPETITION ? Common Advantage -Cheap ($10-$15 Per Item Same Day Pick-Up, $5-$8 Per Additional Day) ? Disadvantages -Limited Locations -Only Hold your luggage but no pick-up/delivery services
- 9. 9Solutions www.domain.com MARKETING PLAN Product - Set drop off & pick up time, location and etc. - Offer delivery service within the city upon requests ＾Leave your heavy belonging with us, and enjoy your day in the city￣ A service that offer reliable short-term bags or personal items storage and portability
- 10. 10Solutions www.domain.com ?Use local Delis & stores as our storage MARKETING PLAN Place ?Uber or Lyft for point to point delivery services ?Our business is to carry out in cities and other remote outlets
- 11. 11Solutions www.domain.com ?Taxi ads or advertise on city attraction look book with coupons MARKETING PLAN Promotion ?Collaborate with local hotel ?Offer coupon or points card ?Offer monthly pass or annual pass for regular travelers ?Print media or travel agency websites
- 12. 12Solutions www.domain.com PRICING $15 / day $1 / mile for different pickup destination
- 13. 13Solutions www.domain.com Crunching Numbers App Development and Technology $200,000 Marketing $100,000 Employee Wages $250,000 Working Capital $50,000 Total Expenses $600,000 Projected Expenses in Year 1
- 14. 14Solutions www.domain.com Crunching Numbers Projected Income for Year 1 From Bookings Total bookings for storage across 5 cities (New York, Los Angeles, Chicago, San Francisco, Miami) C 36,500 (Avg. 100 bookings/day/5 cities) Revenues from Booking - $547,500 (36,500 * $15) Profit from Booking - $273,750 (50% of Booking Fee, Other half goes to store owners) From Movement of Bags No. of miles of movement in year 1: 182,500 miles (500 miles per day for 100 bookings) Revenues from movement of bags - $182,500 ($1 each mile) Profit from movement of bags - $91,250 (50% of revenues, other half goes to taxi drivers) Gross Profits $273,750 + $91,250 = $365,000
- 15. 15Solutions www.domain.com Crunching Numbers Projected Income for Year 2 From Bookings Total bookings for storage across 5 cities in year 1 (New York, Los Angeles, Chicago, San Francisco, Miami) C 73,000 (Avg. 200 bookings/day/5 cities) Revenues from Booking - $1,095,000 (73,000 * $15) Profit from Booking - $547,500 (50% of Booking Fee, Other half goes to store owners) From Movement of Bags No. of miles of movement in year 1: 365,000 miles (1000 miles per day for 200 bookings) Revenues from movement of bags - $365,000 ($1 each mile) Profit from movement of bags - $182,500 (50% of revenues, other half goes to taxi drivers) Gross Profits $547,500 + $182,500 = $730,000
- 16. 16Solutions www.domain.com Thank you. We¨ll be happy to answer your questions
Editor's Notes
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