Table of Contents

EXECUTIVE SUMMARY....................................................................................................................................................

DESCRIPTION OF THE COMPANY.........................................................................................................................................

MISSION STATEMENT..........................................................................................................................................................
PRODUCTS AND SERVICES..................................................................................................................................................

HISTORY AND POSITION TO DATE..............................................................................................................................

THE COMPANY’S MISSION..................................................................................................................................................

MANAGEMENT TEAM AND KEY PERSONNEL......................................................................................................................
SERVICES.............................................................................................................................................................................
TRANSPORTATION...............................................................................................................................................................
BUSINESS STRUCTURE........................................................................................................................................................

MARKET RESEARCH........................................................................................................................................................

GEOGRAPHIC AREA.............................................................................................................................................................
MARKET DESCRIPTION........................................................................................................................................................
TARGET CUSTOMERS..........................................................................................................................................................
MARKET DEFINITION..........................................................................................................................................................
MARKET OPPORTUNITIES....................................................................................................................................................

BUSINESS STRATEGY.......................................................................................................................................................

CUSTOMER INCENTIVES......................................................................................................................................................
ADVERTISING AND PROMOTION..........................................................................................................................................
SALES AND MARKETING.....................................................................................................................................................
COMMISSION.......................................................................................................................................................................

OPERATIONS.......................................................................................................................................................................

PREMISES............................................................................................................................................................................
CHOICE OF LOCATION AND PREMISES................................................................................................................................
HOURS OF OPERATION........................................................................................................................................................
EQUIPMENT.........................................................................................................................................................................
STAFFING............................................................................................................................................................................
FUNDS REQUIRED AND TIMING..........................................................................................................................................
FUNDING OPTIONS..............................................................................................................................................................

EXECUTIVE SUMMARY..................................................................................................................................................6

THE COMPANY..................................................................................................................................................................6
THE COMPANY’S MISSION................................................................................................................................................6
PRODUCTS AND SERVICES................................................................................................................................................6
MARKETING AND SALES TECHNIQUES.............................................................................................................................6
 THE COMPETITION............................................................................................................................................................7
TARGET MARKET..............................................................................................................................................................7
OPERATIONS......................................................................................................................................................................8
MANAGEMENT..................................................................................................................................................................8
FINANCIALS.......................................................................................................................................................................8
FUNDING...........................................................................................................................................................................9

HISTORY AND POSITION TO DATE..........................................................................................................................10

THE COMPANY’S MISSION..............................................................................................................................................10

MANAGEMENT TEAM AND KEY PERSONNEL..................................................................................................................10
SERVICES.........................................................................................................................................................................12
TRANSPORTATION...........................................................................................................................................................13
COMPANY HISTORY........................................................................................................................................................13
GUARANTEES AND WARRANTIES....................................................................................................................................14
BUSINESS STRUCTURE....................................................................................................................................................14

MARKET RESEARCH....................................................................................................................................................14

ECONOMIC AND SOCIAL FACTORS..................................................................................................................................15

COMPETITIVE ENVIRONMENT......................................................................................................................................... 15
LONG-TERM OPPORTUNITIES..........................................................................................................................................15
GEOGRAPHIC AREA.........................................................................................................................................................16
MARKET DESCRIPTION....................................................................................................................................................16
TARGET CUSTOMERS......................................................................................................................................................17
MARKET DEFINITION......................................................................................................................................................17
MARKET OPPORTUNITIES................................................................................................................................................18
COMPETITIVE ANALYSIS.................................................................................................................................................19
COMPETITIVE ADVANTAGES...........................................................................................................................................22
COMPETITORS’ POSITIONS..............................................................................................................................................22
POTENTIAL FUTURE COMPETITION.................................................................................................................................23

BUSINESS STRATEGY...................................................................................................................................................23

CUSTOMER INCENTIVES..................................................................................................................................................23
ADVERTISING AND PROMOTION......................................................................................................................................24
SALES AND MARKETING.................................................................................................................................................25
COMMISSION...................................................................................................................................................................25

OPERATIONS...................................................................................................................................................................25

PREMISES........................................................................................................................................................................25
CHOICE OF LOCATION AND PREMISES............................................................................................................................26
HOURS OF OPERATION....................................................................................................................................................26
EQUIPMENT.....................................................................................................................................................................26
 STAFFING........................................................................................................................................................................26

FORECASTING................................................................................................................................................................27

SALES FORECAST............................................................................................................................................................27
CASH FLOW PROJECTIONS..............................................................................................................................................28
INCOME STATEMENT.......................................................................................................................................................28
BALANCE SHEET.............................................................................................................................................................29
PERFORMANCE RATIOS...................................................................................................................................................29
BREAK-EVEN.................................................................................................................................................................. 29
FUNDS REQUIRED AND TIMING......................................................................................................................................30
FUNDING OPTIONS..........................................................................................................................................................31

BUSINESS CONTROLS...................................................................................................................................................31

ACCOUNTING SYSTEM.................................................................................................................................................... 31
QUALITY CONTROL.........................................................................................................................................................31
NEW TOUR OPERATORS..................................................................................................................................................32
CAPACITY........................................................................................................................................................................32
LONG-TERM GOALS........................................................................................................................................................32
STEPS FOR ACHIEVING GOALS........................................................................................................................................32
POSITION.........................................................................................................................................................................33
RISKS ASSOCIATED WITH GROWTH................................................................................................................................34

APPENDIX 1: MARKET RESEARCH..........................................................................................................................35

INTERNATIONAL ARRIVALS BY WORLD REGION............................................................................................................35

INDICATIONS OF TOURISM DEMAND IN 1997.................................................................................................................36
SUMMARY OF FINDINGS FROM MARKET RESEARCH SURVEY........................................................................................37
NORTHWIND TRADERS QUESTIONNAIRE........................................................................................................................41
INTERNET GROWTH AND THE SALE OF TRAVEL SERVICES............................................................................................44

APPENDIX 2: FINANCIAL FORECASTS....................................................................................................................46

CASH FLOW PROJECTION YEAR ONE.............................................................................................................................46

INCOME STATEMENT, YEARS ONE TO THREE................................................................................................................48
BALANCE SHEET AT END OF YEAR ONE.........................................................................................................................51
SOURCES AND USES OF FUNDS.......................................................................................................................................53