JayScan
Business Plan: Executive Summary JayScan Mobile App
* EXECUTIVE SUMMARY
1.0 Background
People all over the world like to go travel for either personal reason or business. There airplane ticket market has dropped significantly over the last decade with all the new ticket search engines like Momondo, FlightScanner, Hotwire ect. One thing all of this engines have in common however is that they are extremely inflexible when you are chosen which airports you would like to go to and in which timeframe. Many people are flexible when it comes to which dates they are able to fly out and fly home. The same things are true for which airport they are flying from and to. With JayScan is app who collect all of these search engines in the same app and with more flexibility it will be able find the cheapest price and save the customer a lot of time.
1.2 Target Market
Currently, the focus of the deployment of JayScan will be in Worldwide, since the flight market is worldwide and the existing search engines are working this way. There are one main groups of customers and one secondary:
1. The main group which will be those who travel for pleasure, is flexible and want to save time and money
2. Businessmen. Mostly in smaller business there want to save money and is still time flexible.
1.3 Product Description
The product provides a platform for customers to display the different types of combination of airports and dates and thereby be able to make a choice.
1.4 Marketing Strategy
The application will be free. However every time anyone orders a ticket through this application there will be a small fee. To make the product popular, word-of-mouth will be used, social media like Facebook, Twitter etc. will be used.
1.5 Competitive Advantage
Currently all the airplane tickets engines has no flexibility when it comes to dates and airports. Therefore this app will be one of a kind. Users who would like to save money and time would therefore use this app. JayScan therefore is hitting a sweet spot where no of the competitors have anything similar.
1.6 Business Team
Myself, Emil M. Joensson. Since I programmed since I was little a have a great knowledge in different scripts. These include Java, C, C++, Matlab Programming Languages, Python, Django and apples own programming language. I have already built multiple applications. So I will use all these skills to facilitate the development of JayScan.
1.7 Financial Projections and Milestones
Year | Period(month) | Product/Activity | | | | Year 1 | 1 | Testing of product by developers | | | and sample of potential users | | | | | | 2-4 | 1. | Beta 1 | | | | | | 2. | Simultaneous taking of customer feedback | | | | | | 4-5 | 1. | Addressing customer concerns ascertained | | | from feedback | | | 2. | Beta 2 | | | | | | 3. | Simultaneous taking of customer feedback | | | | | | | | | 5-12 | 1. | Product launch | | | 2. | Sales | | | 3. | Simultaneous taking of customer feedback | | | | | Year 2 | 1-12 | 1. | Addressing customer concerns ascertained | | | from feedback | | | 2. | Sales | | | 3.Addition of new features | | | | | | | | Figure 1: Milestones |
At any point in business cycle JayScan would always make it possible for customers to provide feedback, and process it, in order to be able to make JayScan most suitable for its customers.
The commercial promotions for JayScan begins around the fourth month of operation
1.7.1 Pricing
With the financial projections is that the company behind JayScan plans to charge 0,1% of all total sales involving our product. To give an example, if a customer would like to travel from New York to Germany. He would chose New York the outbound airport and select in how many kilometer/miles from there he is willing to travel from. Now to the arriving airport he could choose the whole of Germany or just a airport, lets say Berlin and again in what kilometer/mile range. Now he selects the possible outgoing and return dates and thereafter the app gives different options like shortest travel, best match, lowest price. The customer thereafter choose a ticket for a $ 1000 dollars in which there will be a fee of 0,1% to JayScan which make the total price $ 1001 dollar.
1.7.2 Revenue and Cost
If the application is successful the revenue could be big. Skyscanner.com, which is the biggest search engine for plane tickets, has a total turnover of 30 million pounds. That is $ 47 million dollars. Say that JayScan are able to catch 10% of these users. That’s around 4.700.000 dollars worth of tickets ordered through JayScan and with the fee of 0,1 %. That’s 47.000 dollars a year and with the cost of operation, which is basically nothing, the future looks pretty good. And even if the company fail to succeed there wont be any loss except for time.
1.8 Future
Currently, JayScan application aims to provide the following functions
1. Tickets scan
2. Flexible dates
3. Flexible airports
Right now its only airplane tickets but we would like to implement several things in the future. First of all it’s should not just include tickets but also hotels, cars ect. Hopefully it will work in a way so the customers can book the entire trip through the app. This will make the total money spent go up which will increase revenue. Besides that we might include some advertisement in the app in the future, if we get a significant user base since this again will help us increase revenue.
References
http://en.wikipedia.org/wiki/Skyscanner
http://www.endomondo.dk 