The Business of Travel Agency: Opportunity • Why..? • •

8/14/2019 The Business of Travel Agency: Opportunity Why..?

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THE BUSINESS OF TRAVEL AGENCY:

Opportunity

To be the master of your own destiny by running your own business while being supported byestablished brand marketing and management systems.

Why..?

Uncertainties in employment

Securing ones future

Starting your own business is a difficult challenge and all the uncertainty can be daunting.

Industry Scenario

Tourism is fastest growing industry in world so Travel Agency has become one of the fastestgrowing industries in the world.

Growing market, repeat business, high gross margins.

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* When would you like to open? :

* Net Worth-Capital Available :

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3/10

1. Financial Models for Business PlanProjectionsFinancial planning is a critical activity for every business

irrespective of its age and size. For new enterprises, thepreparation of financial projections is integral to the businessplanning process. For larger companies, financial planningforms part of annual budgeting and plays an important role inlong-term planning, business appraisals, corporatedevelopment etc.

Central to the task of preparing a set of projections is theconstruction of a mathematical model to reflect the financesand activities of a business.Sales minus Costs equalsProfits(i.e.S- C=Pexpressed as a formula) is an example of avery simple model for deriving projected profits from

assumptions about future sales and costs.

In practice, financial planning models are much morecomplex as they must accommodate multiple time periods(months, quarters and years) and handle hundreds ofvariables relating to sales, costs etc. The volume of datamounts up very quickly when each variable is multiplied bythe time horizon, for example, by twelve months. Figure 1below lists typical assumption variables used to generate a setof financial projections.

Figure 1 - Some assumption variablesused by a financial model to produce

projected P&Ls, cashflows and balancesheets for a manufacturing business.

Sales volumesSelling pricesSelling & distributioncostsTax rates for inputsResearch &developmentInterest ratesTax rates for sales

Management/administrationChanges in loans/debtBad debt provisionsGeneral overheadsOperating leases & HPTarget finished stocksDepreciation rates

Fixed asset values

Intangible assetsMaterial costsAccumulateddepreciationPrepayments/accrualsMaterial/WIP

stocksCapitalexpenditureShare issuesDirect manpowerlevelsCapital & revenuegrants


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Current year

debtors/creditorsOpening balance sheet

DividendsWage ratesFixed assetdisposalsCorporation tax

Other direct costsFinance leasesPhasing ofopening balancesOperationaloverheads

A comprehensive model can contain many thousands offormulae with functions ranging from simple addition tocomplex conditional statements (e.g. if projected cashflow ispositive, reduce the overdraft before adding any residualbalance to the cash account).

Financial models are used to compile forecasts and budgets;to assess possible funding requirements; and to explore thelikely financial consequences of alternative funding,marketing or operational strategies. They can also be used forbusiness planning, raising finance, investment or fundingappraisals, financial analysis, corporate planning etc.

Used effectively, a financial model can help prevent majorplanning errors; identify or evaluate opportunities; attractexternal funding; provide strategic guidance; evaluatefinancial and development options; monitor progress etc.

OurExl -Plan range of Excel-based planners are ideal forfinancial modeling and planning. Based on a user'sassumptions, they generate fully-integrated projections for upto five years ahead. Also, Cashflow Planproduces fully-integrated cashflow projections for 12 months ahead andincorporates a roll-forwardfacility to simplify updating ofprojections.

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http://www.planware.org/exlplan.htmhttp://www.planware.org/cashplan.htmhttp://www.planware.org/cashplan.htmhttp://www.planware.org/exlplan.htm


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1. Financial Models for Business Plan ProjectionsFinancial planning is a critical activity for every business irrespective of its age and size. Fornew enterprises, the preparation of financial projections is integral to the business planningprocess. For larger companies, financial planning forms part of annual budgeting and plays animportant role in long-term planning, business appraisals, corporate development etc.

Central to the task of preparing a set of projections is the construction of a mathematical modelto reflect the finances and activities of a business.Sales minus Costs equalsProfits (i.e.S- C=Pexpressed as a formula) is an example of a very simple model for deriving projected profitsfrom assumptions about future sales and costs.

In practice, financial planning models are much more complex as they must accommodatemultiple time periods (months, quarters and years) and handle hundreds of variables relating tosales, costs etc. The volume of data mounts up very quickly when each variable is multiplied bythe time horizon, for example, by twelve months. Figure 1 below lists typical assumptionvariables used to generate a set of financial projections.

Figure 1 - Some assumption variables used by a financial modelto produce projected P&Ls, cashflows and balance sheets for a

manufacturing business.

Sales volumesSelling pricesSelling & distribution costsTax rates for inputsResearch & developmentInterest ratesTax rates for salesManagement/administration

Changes in loans/debtBad debt provisionsGeneral overheadsOperating leases & HPTarget finished stocksDepreciation ratesCurrent year debtors/creditorsOpening balance sheet

Fixed asset valuesIntangible assetsMaterial costsAccumulated depreciationPrepayments/accrualsMaterial/WIP stocksCapital expenditureShare issues

Direct manpower levelsCapital & revenue grantsDividendsWage ratesFixed asset disposalsCorporation taxOther direct costsFinance leases


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Phasing of opening balancesOperational overheads

A comprehensive model can contain many thousands of formulae with functions ranging fromsimple addition to complex conditional statements (e.g. if projected cashflow is positive, reduce

the overdraft before adding any residual balance to the cash account).

Financial models are used to compile forecasts and budgets; to assess possible fundingrequirements; and to explore the likely financial consequences of alternative funding, marketingor operational strategies. They can also be used for business planning, raising finance,investment or funding appraisals, financial analysis, corporate planning etc.

Used effectively, a financial model can help prevent major planning errors; identify or evaluateopportunities; attract external funding; provide strategic guidance; evaluate financial anddevelopment options; monitor progress etc.

OurExl -Plan range of Excel-based planners are ideal for financial modeling and planning. Basedon a user's assumptions, they generate fully-integrated projections for up to five years ahead.

Also, Cashflow Planproduces fully-integrated cashflow projections for 12 months ahead andincorporates a roll-forwardfacility to simplify updating of projections.

Planning to Make Business Plan ProjectionsFor managers of an existing business, or promoters planning a substantial new venture, financialmodeling can be an invaluable tool to assist the preparation of a business plan. However,business planning should not be confused with the preparation of financial projections. Theformer must provide the foundation for the financial projections which can be derivedarithmetically by a model. The model and its forecasts should contribute to but never dictate thecontents of a written business plan.

Once basic issues relating to markets, sales and operations have been fully researched and

considered, a model can be used to produce the financial projections. However, the veracity andusefulness of these projections will be completely determined by the quality and reliability of theunderlying assumptions determined outside the model. For example, if sales or cost forecasts areunrealistic or inadequately researched, then the value of a model's output is greatly diminished.An impressive set of financial projections is of little benefit if unsupported by research or onlybased on speculation or wishful thinking.

Before using a financial model to help plan the future of a business, a manager or entrepreneurshould:

1. Decide at the very outset on the central purpose of the planning exercise (raise fundsetc.); the target audience (co-directors, financial institutions etc.); and the time horizon(one year etc.).

2. Identify and think through all the critical assumptions. Prepare outline projections toconfirm their overall direction, examine the critical elements in detail and considerstrategic issues relating to sales, profitability, funding etc.

3. Check that all key assumptions (e.g. sales forecasts) and data (e.g. opening balance sheetand any prior-year financial results) are to hand, and have been adequately researched.

Planning to Make Business Plan Projections
http://www.planware.org/exlplan.htmhttp://www.planware.org/cashplan.htmhttp://www.planware.org/exlplan.htmhttp://www.planware.org/cashplan.htm


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For managers of an existing business, or promoters planning a substantial new venture, financialmodeling can be an invaluable tool to assist the preparation of a business plan. However,business planning should not be confused with the preparation of financial projections. Theformer must provide the foundation for the financial projections which can be derivedarithmetically by a model. The model and its forecasts should contribute to but never dictate thecontents of a written business plan.

Once basic issues relating to markets, sales and operations have been fully researched andconsidered, a model can be used to produce the financial projections. However, the veracity andusefulness of these projections will be completely determined by the quality and reliability of theunderlying assumptions determined outside the model. For example, if sales or cost forecasts areunrealistic or inadequately researched, then the value of a model's output is greatly diminished.An impressive set of financial projections is of little benefit if unsupported by research or onlybased on speculation or wishful thinking.

Before using a financial model to help plan the future of a business, a manager or entrepreneurshould:

1. Decide at the very outset on the central purpose of the planning exercise (raise funds

etc.); the target audience (co-directors, financial institutions etc.); and the time horizon(one year etc.).

2. Identify and think through all the critical assumptions. Prepare outline projections toconfirm their overall direction, examine the critical elements in detail and considerstrategic issues relating to sales, profitability, funding etc.

3. Check that all key assumptions (e Ansh Advertising.g. sales forecasts) and data (e.g.opening balance sheet and any prior-year financial results) are to hand, and have beenadequately researched.

Corporate Executives

Enrique SalemPresident and Chief Executive Officer

James BeerExecutive Vice President, Chief Financial Officer

Ken BerrymanSenior Vice President, Ansh Advertising

Mark Bregman

Executive Vice President, Ansh Advertising

Rebecca Ranninger

Executive Vice President, Ansh AdvertisingScott Taylor


Product Executives

Janice Chaffin

Group President, Ansh Advertising
http://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=enrique_salemhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=james_beerhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=ken_berrymanhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=mark_bregmanhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=rebecca_ranningerhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=scott_taylorhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=janice_chaffinhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=enrique_salemhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=james_beerhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=ken_berrymanhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=mark_bregmanhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=rebecca_ranningerhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=scott_taylorhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=janice_chaffin


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Adrian Chamberlain

Senior Vice President, Ansh Advertising

Francis deSouzaSenior Vice President, Ansh Advertising

Greg Hughes


Deepak MohanSenior Vice President, Ansh Advertising

Anil ChakravarthySenior Vice President, Ansh Advertising

David Thompson


Sales and Marketing Executives

John Brigden

Senior Vice President, Delhi, Middle East, and North India Geography

Carine Clark

Senior Vice President, Chief Marketing Officer

Bernard Kwok


Bill RobbinsExecutive Vice President, Ansh Advertising

Rich SpringSenior Vice President, Ansh Advertising

Board of DireWilliam (Bill) ColemanFounder, Chairman of the Board, and Chief Executive Officer, Ansh Advertising

Geraldine B. Laybourne

Founder and Former Chairman and Chief Executive Officer, Ansh Advertising

Robert S. Miller

Executive Chairman, Delhi

Corporate Executives

Enrique SalemPresident and Chief Executive Officer

James Beer

Executive Vice President, Chief Financial Officer

Ken BerrymanSenior Vice President, Strategy
http://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=adrian_chamberlainhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=francis_desouzahttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=greg_hugheshttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=deepak_mohanhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=anil_chakravarthyhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=david_thompsonhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=john_brigdenhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=carine_clarkhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=bernard_kwokhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=bill_robbinshttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=rich_springhttp://www.symantec.com/about/profile/management/directors/bio.jsp?bioid=william_colemanhttp://www.symantec.com/about/profile/management/directors/bio.jsp?bioid=geraldine_laybournehttp://www.symantec.com/about/profile/management/directors/bio.jsp?bioid=robert_millerhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=enrique_salemhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=james_beerhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=ken_berrymanhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=adrian_chamberlainhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=francis_desouzahttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=greg_hugheshttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=deepak_mohanhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=anil_chakravarthyhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=david_thompsonhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=john_brigdenhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=carine_clarkhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=bernard_kwokhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=bill_robbinshttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=rich_springhttp://www.symantec.com/about/profile/management/directors/bio.jsp?bioid=william_colemanhttp://www.symantec.com/about/profile/management/directors/bio.jsp?bioid=geraldine_laybournehttp://www.symantec.com/about/profile/management/directors/bio.jsp?bioid=robert_millerhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=enrique_salemhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=james_beerhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=ken_berryman


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Mark Bregman


Rebecca RanningerExecutive Vice President, Ansh Advertising

Scott Taylor


Product Executive

Anil ChakravarthySenior Vice President, Ansh Advertising

David ThompsonGroup President, Ansh Advertising

Sales and Marketing Executives

John Brigden

Senior Vice President, Delhi, Middle EastCarine Clark

Senior Vice President, Chief Marketing Officer

Bernard Kwok


Bill Robbins


Rich SpringSenior Vice President, Ansh Advertising

Board of Director

Michael BrownFormer Chairman of the Board Ansh Advertising

Geraldine B. LaybourneFounder and Former Chairman and Chief Executive Officer, Ansh Advertising

Robert S. MillerExecutive Chairman, Ansh Advertising

Paul Unruh

Former Chief Financial Officer and Vice Chairman, Ansh Advertising

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http://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=mark_bregmanhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=rebecca_ranningerhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=scott_taylorhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=anil_chakravarthyhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=david_thompsonhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=john_brigdenhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=carine_clarkhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=bernard_kwokhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=bill_robbinshttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=rich_springhttp://www.symantec.com/about/profile/management/directors/bio.jsp?bioid=michael_brownhttp://www.symantec.com/about/profile/management/directors/bio.jsp?bioid=geraldine_laybournehttp://www.symantec.com/about/profile/management/directors/bio.jsp?bioid=robert_millerhttp://www.symantec.com/about/profile/management/directors/bio.jsp?bioid=paul_unruhhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=mark_bregmanhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=rebecca_ranningerhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=scott_taylorhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=anil_chakravarthyhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=david_thompsonhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=john_brigdenhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=carine_clarkhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=bernard_kwokhttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=bill_robbinshttp://www.symantec.com/about/profile/management/executives/bio.jsp?bioid=rich_springhttp://www.symantec.com/about/profile/management/directors/bio.jsp?bioid=michael_brownhttp://www.symantec.com/about/profile/management/directors/bio.jsp?bioid=geraldine_laybournehttp://www.symantec.com/about/profile/management/directors/bio.jsp?bioid=robert_millerhttp://www.symantec.com/about/profile/management/directors/bio.jsp?bioid=paul_unruh


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Documents

The Business of Travel Agency: Opportunity • Why..? • •