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Research Outline

Prepared for Tristan C. | Delivered November 13, 2019

NexTravel Business Plan

Goals

To obtain a business plan for NexTravel to include; executive summary, business description (market analysis, corporate structure, business model, SWOT analysis, and industry trends), market analysis (company's target market, competition, and the economics of the industry) sales & marketing plan (existing & new plan), operations plan, management and organization structure, financial history and projections, transition plan, and exit plan. The plan will be used to inform the strategy for taking over an existing business.

Early Findings

  • As a travel platform, California-based NexTravel empowers businesses to have true ownership over their end-to-end booking experience through various products including
  • The company's value proposition statement, "Save time and money on business travel," reflects its commitment to a better experience for business travelers.
  • NexTravel allows businesses to streamline the booking process, control business costs, keep employees happy, and easily set-up company.
  • Solutions for transforming business travel exist for managers, employees, recruiters, for assistants, and organizers.
  • According to CrunchBase, NexTravel has an estimated annual revenue of $3M and competes with Locomote and TravelBank.
  •  Platzi utilized NexTravel to improve its travel booking operations. According to Platzi's Christian Van Der Henst ( Founder), "we discovered NexTravel and things became much easier. We have a centralized place to handle all of our travel reservations, enough customization to allow different management options, and we're helping our team learn about better flight schedules and how to save money while booking travel..."
  • AvidXchange's Staff Accountant Daniel Wallace said, "The reason we chose NexTravel is that the prices for flights and hotels overall were considerably lower than other travel sites. Having everything centralized on one credit card for our employees made it easy and accessible for them to book all travel and not have to worry about fronting the bill..."

Summary of Early Findings

  • During the first hour of research, we have provided a brief introduction of NexTravel, estimated annual revenue, some competitors as well as testimonials from executives who have utilized NexTravel's services.
  • For a more comprehensive plan that addresses all the needed information, the research team will require extra hours. As such, proceed to choose one or more of the proposed next steps in the scoping section below.