The concept of car bookings

In order to put car booking options at customers' fingertips, Easy To Travel plans to combine the ideas of car sharing and rental cars into one application. Both time and money will be saved for the clients. Through our collaboration with AVIS, customers are also spared the stress of searching for a parking spot and paying parking fees.
The strategy plan for the company Easy To Travel Co. is scheduled through last from the 2019 calendar year to the 2021 fiscal year.
Our mission is to provide citizens of Sydney and beyond with convenient, high-quality, and economical travel options.
Goals
Easy To Travel Co. intends to begin operations with 3000 vehicles in its first year of operation (2019) and grow the number by 100% to 6000 cars for the second year (2020). The number of cars is targeted to grow to 20000 by 2021 which is the third year of operation.

The business will initially target majorly non-train covered areas in Sydney, people who use cars less frequently and short-distance travel. Within five years, we want to expand the scope of the business to cover 80% of Sydney and long-distance travel too.

In 5 years we intend to register returns on capital investment of up to 70% and minimize on working capital by up to 60%. We aim to significantly reduce the overall number of vehicles on the streets of Sydney and expand our employee base from 120000 employees to 150000 in 5 years.

In order to implement and achieve these milestones, the business intends to maximize the following resources and expertise over the stipulated time span.

Strategic partnerships

The business recognizes the role of strategic partnerships towards its overall growth. This cannot be underestimated since the product is relatively new. (Buchinger, 2015) Partnership with AVIS, which already provides parking services, will broaden the customer base and when used concurrently will make the product more enticing. We aim to partner with a leading insurance company to roll out policies for every private car we rent to foster the owner’s confidence in us and cushion the company from any losses resulting from damage of the vehicles while in use. Business alliance with companies like Google and Apple is also targeted to be able to make the application available in their application stores.

Sales and Marketing

The product being rolled out is entirely new and competition is already existing in the market in the form of car rental companies and taxi-hailing applications. Aggressive target marketing is key to the long-term profitable existence of any company. We intend to achieve this through online marketing strategies since our target customer base consists majorly of internet users. The methods include email marketing blasts, relevant content publication via business blogging, social bookmarking, brand awareness creation, marketing via social media, search engine optimization, eBooks among others. We intend to minimize the cost of advertising through these innovative methods.

Human Resources

For overall success of the business, employees need to not only be competent but also cost-effective. Cost of hiring and maintaining adds to the overhead costs, translating to higher or lower margins. (Wright, 2016) The business intends to use efficiently the employees for optimum productivity. We intend to employ highly skilled computer and ICT experts to continuously improve our application for the ultimate user experience by the customer that promises satisfaction. They will also ensure that our system is always maintained and working well so as to offer customers seamless service. Good management practices lead to superior individual and organizational performance while encouraging innovation. The end result will be few conflicts and little or no customer complains. (Guest, 2011)

Information Technology

Investing in the right technology and focusing on innovation will lead to an overall rise in the market share, financial position of the business and overall give it a competitive edge. (Park, 2013) Information technology allows analyzing of data, consumer habits, market trends and enable decision making and planning the business path. This also accords the business tools for solving complex problems encountered and plan the future growth of the business. As such, the role it plays cannot be over-emphasized. The proper application of technology has a direct impact on marketing strategies used, customer satisfaction and resource management. We, therefore, intend to spend substantially on proper IT systems and frameworks for the growth of this venture.

Finance

We purpose to seek for additional financing of up to 60% for our first and second year of operation through long-term commercial bank loans. From our projections, profits accrued within the next five fiscal years will be plowed back into the business to facilitate our expansion plans.

Conclusion

For the continued existence of the business for the duration stipulated and beyond, partnership, marketing, human resource, IT and finance are crucial.

























References

Buchinger, U., Ranaivoson, H. and Ballon, P. (2015). Mobile Wallets’ Business Models:

Refining Strategic Partnerships. Organizacija, 48(2), pp.12-14.

Guest, D. (2011). Human resource management and performance: still searching for some

answers. Human Resource Management Journal, 21(1), pp.3-13.

Oh, C., Park, J. and Ghauri, P. (2013). Doing right, investing right: Socially responsible

investing and shareholder activism in the financial sector. Business Horizons, 56(6),

pp.703-714.

Wright, P. and Various. (2016). View from the Top. Alexadria, VA: Society for Human

Resource Management, pp.23-30.