Fly Travel Agency Ltd: Airline And Travel Services

Overview of the Company

The Fly Travel Agency Ltd is an organization that offers airline service flights, Travel, and tour services to private individual and commercial for all their travel needs such as reservation, booking, and guidance, etc. They are specialized in Air ticket sales from the West African region, Banjul international airport, and the rest of the world. In addition, they also focus on Airline related services, hotel reservations, and Arrangement and flight reservations for embassies. In this report, the discussion has been concentrating on a business plan and stresses upon the target market along with today competitive and dynamic market. The first part is the overview of the company, which is defining mission and vision statement. The second part is industry and customer analysis, which will discuss potential objectives, customer, and PESTEL analysis. The third part will discuss achieving competitive advantage, marketing, and sales strategy. The fourth part is operational analysis, which discusses the business operational model and management structure, and the last part is evaluating the financial budget (Ahmad, 2017).    

The Fly Travel agency (FTA) is an organization, which offer travel services along with providing hotel accommodation, organizing tours, flight tickets, conferences, and Airport transfers. It is the experienced and finest experts in the tour business in the Gambia with effective, efficient, productive, and full-service agency. It delivers low valued service to its customers with a range of good quality services such as air ticket sales, hotel reservation internationally that satisfy the demands and needs of customers, flights support service, as well as planning international destinations with effective airfares. In a pursuit to offer good quality services at a quite low-priced rate to its customers, they should maintain its core standards of transparency, teamwork, excellence services, integrity, and pro-active response to customers’ needs, and hospitality to assist in realizing their overarching objectives in the tourism industry of Gambia (Paramonova, 2016).  

They offered their services to IATA authorize licensee, agent for main international airlines, embassies, organizations, and private individuals. They attain the goal to deliver the effective, high quality, and efficient tour and travel services to all its customers in a suitable manner. They should generate a sustainable market existence that will maintain short and long-term success. In accomplishing these goals, fly travel agency ltd. is committed to building marketing strategies, which will encourage towards an extensive range of customers in the Gambia to provide the services successfully (Handyastuti, 2016).

Industry and Customer Analysis

They should deliver tailored quality services to our clients and satisfying their needs, demands, and preferences with a reasonable price served by our friendly and devoted personnel. We are also intending to seek our services to satisfy the needs of the customers (Camilleri, 2016).

Fly Travel Agency Ltd. aims to motivate the tour and travel industry of the Gambia by delivering efficient and high-quality services to our clients (Yeh, Ku and Ho, 2016).

Fly Travel Agency Ltd. should achieve its mission and vision statement and develops the process to serve the basis for directing philosophies and principles that will motivate its operations and builds relationships with its customers.

• Integrity and Truthfulness- Fly Travel Agency Ltd. maintains a standard code of ethics, keeping honesty, and co-exist with our values.
• Customer Centric- Fly Travel Agency Ltd. is maintained to satisfy the exclusive desires of our customers both intrinsic and extrinsic by adapting their preferences.
• Quality Management- They should generate objectives within the underlining operational values and attaining profitability through positive behaviour.
• Accountability and Transparency- They should take responsibility for both individual and team decisions by generating goals and objectives (Waguespack and Curtis, 2015).

The objectives of Fly Travel Agency Ltd. are described below-

• To generate a reasonable market existence that will maintain short-term and long-term profitability and success.
• It influences the growth and advancement of the travel and tourism industry in the country.
• It delivers efficient and productive services to all its customers (Mokhtaruddin et al., 2018).

The Fly Travel Agency Ltd. delivers a full range of tour services to all our visitors in the Gambia with professional competencies to carry out with an extensive diversity of tour services. They are concentrating in the Air Ticket sales from West African Sub Region, Banjul International Airport, flight reservations for travel insurance, airline services, hotels booking, and rest of the world (Fleischer, Tchetchik  and Toledo, 2015). The services deliver are as follows-

• Flight tickets
• Transportation
• Hotel accommodation
• Organizing tours and conferences
• Airport transfer

The Fly Travel Agency is poised to deliver quality services to its customers, which are Child Fund International, Peace Corporations, Global education center, MRC etc. They are providing at an affordable rate in order to meet the needs of customers. Among its main customers, the majority are from the government agency such as Child Fund International, and other government sectors. These customers are loyal among Fly Travel Agency Ltd. and are frequent travelers, which initiates to attract and promote its services by having the best customer experience. They are focussing upon the principles and values of customers and placing their services on top of its agendas by always satisfying their demands and needs. They are managing and safeguarding that customers’ needs and preferences are well catered (Smyrni and Smirni, 2017). 

A PESTLE analysis is a framework to monitor the macro-environmental factor that might have a profound impact on the performance of the organization. It evaluates the fundamental aspects of the external environment facing the industry to examine it completely as they have no control over other factors. By considering this, Fly Travel Agency Ltd. has to embrace some of these external alterations if it really needs to succeed in the tour and travel business in the Gambia.

Political factors are probably associated with the level of intervention of the national and local government in the economic environment. It is stated as other stakeholders such as protests & pressure groups, non-government institutions, and community play a significant part in policy making in the Gambia. Fly Travel Agency Ltd. should cooperate with these institutions so that it can contribute effectively to the social goals as well as corporate goals.

Achieving Competitive Advantage

Taxation policies- It is stated that over the past few decades Fly Travel Agency Ltd. has to get advantage from lower taxation policies through the hemisphere. It has resulted in increased spending in the research & development and high-profits. The increasing inequality in the Gambia has led to a transformation in the taxation policies.

Regulatory practices- Fly Travel Agency Ltd have maintained various regulations in the different market. Over the past years, the Gambia and other developing economies have operated in the local market.

It is a threat to the industry as tariff levied on the tour and travel agencies, political impasse in the preceding year, and government policies on tour and travel agencies impacted the industry adversely so then it is a threat to the industry (El-deen, Hasan and Fawzy, 2016).

• Economic Factors-
• Economic factors involve economic performance, taxation rate, interest rate, exchange rate, consumer disposable income, labour market conditions, and inflation rate. The effectiveness of Fly Travel Agency Ltd. in the Gambia can attain easy accessibility of liquidity in the market to diversify internationally (Gillen and Hazledine, 2015).
• Exchange rate- The exchange rate of the Gambia in particular tour and travel industry can influence Fly Travel Agency Ltd.
• Consumer Spending- The consumer disposable income has remained stable; the developing inequality in the community will adversely influence the consumer spending and the industry.

The economic trends that influenced the consumer disposable income is an opportunity for the industry as a change of government can induce more entrepreneurs and stakeholders (Sochor et al., 2017). 

• Social factors-
• Social factors will affect the values in an environment, which will understand the clients of a given market and play a great part in Fly Travel Agency Ltd.
• Income inequality- There is an increasing trend of income inequality in the Gambia, which has altered the power structure of the community.
• Gender Roles- The gender roles are increasing in the Gambia as Fly Travel Agency Ltd. can evaluate several concepts to cater to the needs of customers (Yeh, Ku and Ho, 2016).
• Demographics- It is stated that the Gambia is a young country; Fly Travel Agency Ltd can utilize innovative products to support diversified segments of the population.    
• Consumer tastes- The clients in the Gambia are catering higher preferences to the technology products irrespective of value proposition so Fly Travel Agency Ltd. can leverage this trend to develop products that deliver customer experience.

The social trend is a threat to the industry as customers are traveling even before also. The income equality, gender biases, demographics are a threat to the economy (Moradi et al., 2017),

• Technological factors-
• Technology is fast disrupting several industries across the economy. Some of the factors are the rate of technology-driven transformation, innovation in customer experience, supply chain disruption, and access to greater information.
• Adaption and dissemination of mobile technology- It has changed customer expectation and preferences in the technology sector. Fly Travel Agency Ltd. has to not only fulfill and manage the needs and innovate to move towards the competition.
• Decreasing the cost of production- The latest technology is fast lowering the cost of production in the technology sector.

The technology trend is an opportunity for the industry as changes in telecommunication affecting visibility and publicity, which is developing at a rapid rate. At a present time, technology is an important factor that plays an important part in the economy (Yuan, Lin and Zhuo, 2016).

• Environmental factors-
• The extreme weather is also adding to the cost of the operations of the FTA, which make their supply chain more flexible.
• It is stated that environmental norms are also adding to the development of product innovation.
• It also builds greater awareness among the customers, which caters to value propositions.
• Legal factors-
• The legal factors are not strong enough to protect the intellectual rights of Fly Travel Agency Ltd. (Chen, 2017).
• Business Laws- It is stated that norms and regulations are constant with international institutions such as the European Union, WTO etc.
• Employment Laws- The law in the Gambia, they are affecting the business model in a global market.

The legal trend is a threat to the industry as competition, political instability is increased, and there is a limited number of tourism operators in the market (Akman and Sokol, 2017).

The customers of the Fly Travel Agency Ltd. indicates that appreciation, recognition, and satisfaction of their needs and preferences lead to an increase in loyalty. They are commonly enthusiastic and are frequent tourists, which intend to attract and develop services by having an effective customer experience (Smyrni and Smirni, 2017).

It is stated that there are a significant and prevailing tour and travel agencies where Fly Travel Agency Ltd. is working such as the Roumich Travel Agency, Satguru Travel & Tourism Agency, Abbey’s Travel Agency, Future Travel Agency, and other developing tour agencies. They are managing their position as one of the best tour agencies in the industry by focussing on services of very people in the Gambia with affordability and quality.

The market share of the travel industry in the Gambia is contributing about 20% to the GDP of the country, which serves as a huge basis of foreign exchange earnings for the Gambia. It predicted to increase by 5.0 per annum from 2018-2020 (Acar and Karabulak, 2015)

Operational Analysis

The strength and weakness of Fly Travel Agency Ltd. are-

• Strength-
• Technology- Fly Travel Agency Ltd. adapt with modern technology to offer its services to its customers by marketing its services through online travel booking, which has enhanced the competitive edge in the tour industry.
• Personnel- They has flexible, adaptable, and well-experienced personnel who are highly skilled, talented, and professional in the tour industry. They are the International Air Transport Association (IATA) certified and are fully trained with the knowledge and skills generated in customer servicing (Ahmadi, Dileepan and Wheatley, 2016).
• Weakness-
• Inadequate source of finance- Fly Travel Agency Ltd. deals with weaknesses such as the inadequate source of funds and resources to explore global market as its gross revenue is too small as compared to its competitors who have robust market growth globally.   
• Lack of global presence- They has no branches open to the local or global market, which intends to be a bigger threat to their competitors who has some branches in the country and has an international presence in Europe, Africa, and Asia (Li et al., 2017).

The Fly Travel Agency Ltd. should develop its image and reputation as an attractive and different tour agency with excellent quality and worthwhile tour agency. It will attain through an extensive range of marketing and communication strategy utilizing several avenues such as web page, domestic radio stations, Facebook, online, TV, print and electronic media, and Instagram. They should deliver services depend upon the price structure of 11-18% discount than the present price of the prevailing tour agencies in the industry both locally and globally. They should deliver timely, appropriate, and effective quality services to encourage clients to attract and induce prospective clients by building their respect and trust. Some of the employees are moving for specialized training and development in key extents of the customer care services so that they can continue to be more productive in carrying responsibilities and delivering our clients the best service (Martínez, Navarro and Trinquecoste, 2017).

The Fly Travel Agency Ltd. core competence is to concentrate on building as a main leading tour and travel professional in the industry. They will also commit to set out a clear path, which defines the mission, vision statement, and business core values. They should maintain a competitive advantage against its competitors in the future ahead. They should capitalize on other agencies strength and weakness and seizing those opportunities and eliminate threats already accessible in the industry. As a consultant and specialist, customers will primarily think of FTA as a one-stop solution for their tour needs and preferences instead of our competitors. They will continue to encourage and maintain the strategic cooperation with a global travel agency as their partner to have effective advantages in the industry (Forgacs and Dimanche, 2016).

The Fly Travel Agency Ltd. is mainly targeting a diverse range of travelers involving singles families, veteran people, adventure travelers, individuals, corporate travelers, honeymooners, holidaymakers, and groups. They should develop and establish marketing strategies, which is the main purpose of a profitable business in the tourism industry. The main product, which they are offering, is services, which will attempt to make its targeted customers. They are fully responsive of the customer experience services to continue and contributed 24/7 on their tourism concerns (Varella, Frazão and Oliveira, 2017).

Marketing Mix

• Product- TheFly Travel Agency Ltd. is one of the leading travel booking organization in the Gambia. They are delivering a variety of services to its customers. They are delivering tour and travel packages involving local and international destination from the business services of Fly Travel Agency Ltd. The products in its marketing mix involve a bus, rail, and airline tickets for diverse places provided by various vendors (Liao, 2015).
• Price-The Fly Travel Agency Ltd. has to contend with various other travel portals to maintain its leadership position in the Gambia. The main motive of the FTA is to deliver the customers a wide range of services with best offers. They have to fulfill customer satisfaction and increase its revenue through economies of scale (Minculete and Olar, 2018).  
• Place-The FTA is popular majorly through its online presence in the form of the mobile application platform. This also empowers to offer 24/7 service to the customers and can be available everywhere across the world. Their services are customer friendly where they avail the services with various offers. They have an international presence across various cities (Mostafa and Hefny, 2016).
• Promotion-The FTA has a strong international presence and promotion is done through digital marketing platform and social media. They also make use of its promotional offers in the form of special offers and discounts to premium customers to develop brand engagement. It is stated that through online platforms like Instagram, Facebook, and Twitter, it has been able to deliver its brand to the masses (Al-Weshah, 2018).

The sales forecasting monthly analysis of FTA shows that sales volume of 2018-19 will be starting from 500 and selling price will be 10 and sales is to be generated as 5000. In the next month, it keeps on changing i.e. Mar 2018-5000, Apr 2018-5500, May-2018-6000 and keeps on changing in the respective months. At last, the sales generated in the whole year are 76,250. Then, the sales volume of 2019-20 will be starting from 700 and the selling price will be 12. In the next month, it keeps on radically changing i.e. Mar 2019- 8400, Apr 2019-900, May 2019-7800 and rapidly changing in the respective months. Finally, the sales generated in the whole year are 1,13,700, which has risen from the previous year. It has been forecasted that on a monthly basis, the sales are increased and decreased on an extent, which has made a major impact on the profitability of FTA (Long and Shi, 2017).      

Sales Forecast
		Volume	Selling Price	Sales
month 1	Mar-2018	500	10.00	5,000
month 2	Apr-2018	550	10.00	5,500
month 3	May-2018	600	10.00	6,000
month 4	Jun-2018	650	10.00	6,500
month 5	Jul-2018	625	10.00	6,250
month 6	Aug-2018	600	10.00	6,000
month 7	Sep-2018	700	10.00	7,000
month 8	Oct-2018	650	10.00	6,500
month 9	Nov-2018	750	10.00	7,500
month 10	Dec-2018	600	10.00	6,000
month 11	Jan-2019	700	10.00	7,000
month 12	Feb-2019	700	10.00	7,000
year 1	Total	7,625	10.00	76,250
month 13	Mar-2019	700	12.00	8,400
month 14	Apr-2019	750	12.00	9,000
month 15	May-2019	650	12.00	7,800
month 16	Jun-2019	800	12.00	9,600
month 17	Jul-2019	650	12.00	7,800
month 18	Aug-2019	700	12.00	8,400
month 19	Sep-2019	700	12.00	8,400
month 20	Oct-2019	825	12.00	9,900
month 21	Nov-2019	900	12.00	10,800
month 22	Dec-2019	950	12.00	11,400
month 23	Jan-2020	950	12.00	11,400
month 24	Feb-2020	900	12.00	10,800
year 2	Total	9,475	12.00	1,13,700

Evaluating the Financial Budget

The business operational model delivers a structured approach to estimate a business model, which is significant for the success, profitability, and cascades into all aspects of the FTA. It generates a structured and systematic approach, which divides the model into three core elements i.e. sustainability, offering, and monetization. Then, each of the elements is further divided into eight areas of the model. Sustainability is divided into four key aspects as On-going Competitive advantage, Innovation Factor, Pitfalls Avoidance, and Graceful exit. The offering is divided into two aspects as Market attractiveness and Unique Value Proposition. Monetization is divided into two aspects as sales performance model and profit model (Abou-Shouk, Lim and Megicks, 2016).

• Equipment- The Fly Travel Agency Ltd. has operated its business with two desk computers and one laptop for office purpose. They have operated its business to make it profitable and successful in the future.
• Cars- It is stated that FTA has operating the business with two vehicles for office purpose and picking up VIP guest from the airport. They are planning to acquire other vehicles for the success and profitability of the business.
• Technology-The Company has maintained the innovative technology to maintain a competitive edge and secures a profit in the near future.
• Office- The Fly Travel Agency Ltd. has worked up with their renting office, is a good strategic location and easily available to business partners (Pang, Kucukusta and Chan, 2015).

The business processes and policies of FTA are a productive and efficient manner of improving the productivity of business and adding value on resource efficiencies and personnel capabilities. The business policies and the process should support the organizational structure and another process in order to serve in maintaining the strategic direction of the agency.

The process of operation management ranges across the globe involving the purchasing of equipment and resources, production, marketing, sales, accounting, and human resources.

• Purchasing- They have accountability for the acquisition of supplies, material, and equipment to develop close contact with the operations. It is also included in inspecting and receiving the purchased items.
• Production- The production of products and managing the services incorporate various factors such as process management, monitoring and evaluating productivity, and supply chain management.
• Marketing- Their focus is on promoting the service of the Fly Travel Agency Ltd., which is accountable for identifying clients’ needs and preferences and communicating to the operations team. Marketing can also supply knowledge and information on consumer needs in order to design the service and products according to their expectations.
• Sales- Then they encourage to sale the product to the effective customer and manage accordingly. They have to increase their sales in the next 2 years so that they maintain a position in the minds of customers.
• Accounting- It supplies the knowledge and information to management on costs of material, overhead, and labour and delivers the report to the higher-level management.
• Human Resource- They are concerned with recruitment, retaining, and training of employees, assisting in workforce projection (Murphy, Chen and Cossutta, 2016).

The Management team of Fly Travel Agency Ltd. are-

• Managing Director-The Managing director of Fly Travel Agency Ltd. is Mrs. Elizabeth Joof Mendy, which is accountable for daily operations of the business and providing technical support to every unit. They have a strong business presence and competences.
• Finance and marketing supervisor- The Finance and marketing supervisor of FTA is Francis Mendy, which is accountable for assisting the senior finance supervisor for preparing the journal entries, merge subsidiary ledgers and general ledger accounts, process reports, and submit taxes and returns.
• Senior Finance supervisor-The Senior Finance supervisor of FTA is Bisenty Gomez, which is accountable for the management of finance and marketing supervisor for evaluation of financial data and generation of quarterly, monthly, and annual reports adequately.
• Senior Reservation and Ticketing Agent-The Senior Reservation and Ticketing Agent of FTA is Diminga Baben, which is responsible for reservation and booking of travel ticket, re-issue of travel ticket, and refund of travel ticket. They should avail flight number on the online reservation framework, properly scan to evaluate space availability, make calls to take the advice of customer in respect of changes in the flight plan, motivating the staff, confirm the booking, or cancel the reservation.
• Assistant Reservation Agent-The Assistant Reservation Agent of FTA is Isatou Krubally, which is responsible for supporting in increasing the sales of travel ticket and reservation, booking for embassies, making reconfirmation, issue of invoices, customer engagement, and customer care services.
• Messenger-The Messenger of FTA is Alieu Saalah, which is responsible to offer payment to supplier or banks, provide flight tickets to customers, collects visas from them, submit the application of visa to several consultants, embassies, and government regulators.  

They should encourage and maintain the business operations of FTA to attain profitability and success in the near future (MCLEOD and SCOTT, 2018)

It is stated that the chart depicts the start-up capital raise for Fly Travel Agency Ltd., which says that the primary source for funding is through retain profit and share capital financing to make the business profitable and successful. The financial risk in the company are the proprietors who are the investors for the business. The investors are Mr Kelly Glue and Mr Ezze Mendy who progressively agree to invest in the business in the proportion of 70% and 30% of the total share capital raised GMD 300,000 (Shcherbanin, 2016).   

The operating and administrative expenses for the organization are the cost incurred for the smooth functioning of the organization, which is generally referred to as general expenses involving staff salaries, repair & maintenance, and consultancy fees. The chart below depicts a forecast of the operating and administrative expenses (Liu, 2016).

It stated that the business invested expense in repair and maintenance and other operating expenses which they should evaluate their expenditures will not be incurred in the following year (Andrikopoulos, Merika and Merikas, 2016).

The selling expenses are sustained by the sales and marketing department, which involves staff remuneration, advert cost, and communication expenses. The chart below depicts the costs incurred, which will continue to enhance the marketing and CSR cost in all forms of marketing channels (Ollenberger, Silveria and Denmark, 2016).

Services Offered by Fly Travel Agency Ltd

The financial expenses earned in advancing cash to acquire fixed assets for the organization. The chart below depicted the funds invested by the owners’ equity as they acquire more assets and retain more personnel to operate the smooth functioning of the business. The chart below depicts the loan charges and bank charges for servicing (WisCombe, 2016).

It is a matrix, which defines the break-even point i.e. no profit and no loss and the total revenue is equal to the total cost. The chart depicted below defines that they need to sell more units in respect to cover up its fixed cost and anticipated sales are 13,333.33 (Monterrubio, 2016).

Income/Revenue	Year 1: 2018	Column1	Column2	Column3	Year 2: 2019	Column4	Column5	Column6
	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
Opening balance	400000	400000	400000	400000	400000	400000	400000	400000
Owner’s Equity	200000	200000	200000	200000	200000	200000	200000	200000
Cash Sales	25000	25000	25000	25000	25000	25000	25000	25000
Cash from Receivables	45000	45000	45000	45000	45000	45000	45000	45000
Total Cash Received	670000	670000	670000	670000	670000	670000	670000	670000
Staff Salaries	35000	35000	35000	35000	35000	35000	35000	35000
Car insurance	800	800	800	800	800	800	800	800
Advertisement	3000	3000	3000	3000	3000	3000	3000	3000
Fuel	18000	18000	18000	18000	18000	18000	18000	18000
Cleaning supplies	2000	2000	2000	2000	2000	2000	2000	2000
Rent	100000	100000	100000	100000	100000	100000	100000	100000
Repairs & Services	3000	3000	3000	3000	3000	3000	3000	3000
Staff Development	30000	30000	30000	30000	30000	30000	30000	30000
Purchase of Long-term Assets	450000	450000	450000	450000	450000	450000	450000	450000
Total Cash needed	641800	641800	641800	641800	641800	641800	641800	641800
Cash balance at the end of Quarter	28200	28200	28200	28200	28200	28200	28200	28200

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