Business plan
A Guided App for Tourists
International start-up group
Erasmus+ project
Rovinj, Croatia, April, 2019
Business idea
The mobile application for tourists
Walking tours are a great way to learn about an area. Unfortunately, guided tours are often expensive and require that you stick with the group and your guide, with little to no time to do your own exploring. That is why we have chosen this business idea.
Seek To Peek
The person or people who are starting a new business should analyze the legal framework which is relevant to their particular business. They should be well aware of legal regulations they will be subject to and find out if they need any prior licenses or permissions.
Legal framework
A limited liability company (LLC)
Why?
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Fast establishment
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Starting capital: €2,500
Our legal framework
3 Fs in business
The three Fs are friends, family and fools – the people to talk to first when pitching an idea. Less than 1 per cent of start-ups raise venture capital so the 3Fs are important.
Pricing Strategy
How to make money with free app:
- advertising
- sponsorship
- in-app purchases
- in-app advertising tools
Target Group
- 12 to 50 years
- People with cultural interests
- Travel groups
- School groups
Then, we should think about people or companies that we could collaborate with. Other analysis that is important is SWOT.
STRENGHTS – WEAKNESSES – OPPORTUNITIES – THREADS
Competitive situation
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- No direct competitors
- Other providers (Google maps)
- Nothing completely like this
- Niche market
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Risk analysis
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Not getting support from sponsors
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Possible appereance of competitors
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Technical issues which may cause decline of users
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Not hiring the right people
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Trying to grow too fast or too slowly, wrong timing.
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Location
Starting a business in Lithuania is easy. A company can be established in only 3 days time and it can be registered via e-mail with such ease that companies starting their activities in Lithuania can start operating instantly.
We will join one of the most vibrant startups ecosystems in Europe, particularly strong in areas like FinTech, gaming and IT.
Lithuania’s IT infrastructure is among fastest and most reliable in the world.
There is Regulatory sandbox in Lithuania
Regulatory sandbox
The regulatory sandbox allows potential and existing financial market participants to test financial innovations in a live environment under the guidance and supervision of the Bank of Lithuania. The participants of the regulatory sandbox will be selected according to specific criteria.
5 steps while working with the regulatory sandbox
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Company organization and human resources
Company must be organized in order to ensure that the work is being done productively. Work for employees should also be distributed equally, so that each person has enough time to finish tasks received and if that is not possible it is great to consider hiring more workers.
Our company organization and human resources
- Several programmers
- Designer
- Backend developer
- Payments of the app manager
- Responsible marketing
Visualisation
