establishing business in turkey (2014)

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INTERNATIONALBUSINES S ANALYSIS PROJECT PRESENTATION BUSINESS PLAN TOURISM IN MAHRUKH SHEIKH(2014)

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Page 1: ESTABLISHING BUSINESS IN TURKEY (2014)

INTERNATIONALBUSINESS ANALYSIS

PROJECT PRESENTATIONBUSINESS PLAN

TOURISM IN

MAHRUKH SHEIKH(2014)

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BRIEF INTRODUCTION

MAHRUKH SHEIKH(2014)

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ESTABLISHING A BUSINESS IN TURKEY

□ The New TCC allows the establishment of joint stock companies or limited liability companies with only a single shareholder.

□ In compliance with EU legislation, the Board Of Directors may now be comprised of a Single person instead of at least 3 members.

□ The new TCC does not require physical presence of board members.

□ Turkey’s regulatory environment is extremely business-friendly.

□ You can establish business in Turkey irrespective of nationality.

MAHRUKH SHEIKH(2014)

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COMPANY ESTABLISHMENT IN ONE

DAY□ It is possible to establish company in single day.

□ By applying to relevant trade registry office with the required documents.

□ The company is established once the founders declare their intent to set-up a JSC in articles of association.

□ Which have been issued in accordance with their notarized signatures, unconditionally acknowledge and undertake to pay the whole capital.

□ The company receives the “legal entity” status upon registration with trade registry.

MAHRUKH SHEIKH(2014)

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LIMITED LIABILITY COMPANY (LLC)

□ It is a company established with at least one share holder.

(real person or legal entity)

□ The liability of shareholders is limited to the subscribed capital and is paid by the share holder.

□ A minimum capital of TRY 10,000 is mandatory.

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NECESSARY DOCUMENTS1) A company establishment petition and a notification form.2) Articles of Association.3) Founder’s statement signed by the founders.4) The bank letter proving that the share capital has bee deposited.5) The bank receipt indicating that the 0.04% of the company’s

capital has been deposited to the account of Turkish Competition Authority at a state bank.

6) Permit or letter of compliance for company.7) Notarized copy of signatures of persons.8) Application number indicating that the trade name to be used has

been checked and confirmed by Trade Registry Office.9) Certificate of residence.10)Notarized translation of passport (in case : if foreign shareholder

is a real person)

MAHRUKH SHEIKH(2014)

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COUNTRY PROFILE

□ Turkey is situated at the junction of Europe and Asia.

□ The location on two continents has been a central feature of the Turkish history, culture, politics.

□ The official language of Turkey is Turkish.

□ Besides Turkish, a Significant part of young generation speaks English or German as a Foreign language.

MAHRUKH SHEIKH(2014)

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STABILITY AND HIGH PERFORMANCE IN THE

ECONOMYBetween 2003 and 2012: □ GDP increased by 257 percent, reaching USD 786 billion□ Annual average real GDP growth of 5.1 percent□ Public debt stock decreased from 74 percent of GDP to 36.6

percent of GDP□ Budget deficit decreased from 10 percent of GDP to less than 3

percent of GDP 

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COMPANY SUMMARY

□ NAME: BEYOUND TOURISM LLC

□ ORIGIN : PAKISTAN

□ FDI: TURKEY

□ SCOPE OF OPERATION: TRAVEL SERVICE PROVIDER

□ SERVICES : Beyond Tourism LLC specializes in FITs, or Free and Independent Tours

COMPANYOWNERSHIP

INCORPORATION : Shall be notarized and translated into Turkish

MUST: be registered before the TR ( trade registry)

REQUIREMENTS : Requirement on companies to have a website.MAHRUKH

SHEIKH(2014)

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BUSINESS CONCEPT□ Need to provide quality service

to our target customers.

□ Recruitment of a professional team

□ Provision of good quality custom-designed travel packages.

□ Establish a market presence that assures short-term and long-term profitability, growth and success.MAHRUKH

SHEIKH(2014)

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BUSINESS LOCATION

□ Opportunity of combined and alternative tours □ By tour within rural areas, natural, historical and

archeological sites and neighboring cities.□ Main cities will be :

ISTANBUL

ANTALYA ANKARA DIAYRBAKIR

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MAIN TOURIST ATTRACTTIONS

ISTANBUL• Sultan Ahmed Mosqu

e (The "Blue Mosque"),

• The Hagia Sophia, • The Topkapı Palace, • The Basilica Cistern, • The 

Dolmabahçe Palace, • The Galata Tower,

ANTALYA• Bodrum,• Fethiye• Marmaris,• Kuşadası, • Çeşme, • Didim and• Alanya

DIYARBAKIR• An historic old

town, and although it is not exactly a tourist city, is usually a stop for travelers who go to Cappadocia

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MISSION STATEMENT

□ The mission of Beyond Tourism LLC is service and luxury for discerning travelers.

□ We want the Beyond Tourism LLC brand to be synonymous with service and luxury.

□ When the conversation turns to travel, we want our clients to say:

"I travel with Beyond Tourism LLC! "

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KEY TO SUCCESS

□ The keys to our tourism company success will undoubtedly be effective market segmentation through identification of several niche markets and implementation strategies.

□ Hence our key success factors will include the following:

□ Excellence in fulfilling the promise.

□ Timely response to customers' requests.

□ Solid and fruitful strategic alliances

□ Marketing know-how

MAHRUKH SHEIKH(2014)

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TOURISM MANAGEMENT

□ Our Tourism company is intends to deliver leisure travel excursions to customers

□ Analysis will be based on user profiles, set by the consumers, which include preferences such as:

BudgetActivities soughtDestination, andTime

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COMPETITIVE COMPARISON:□ Presently few competitors offering services similar to ours.

□ The most significant competition are hotels and travel agencies offering travel excursions to their clients.

□ Instead of directly competing with them we intend to establish good working relationships in the form of strategic alliances

TOUR OFFERINGS

1. Capital Crusade - City Tour

2. Cultural Enrichment - Cultural Tour

3. The Essence: Past & Present - City & Cultural Tour 

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TOURISM STATISTICS

□Tourism Statistics in Turkey(2013).xls

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MACRO ENVIRONMENT

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Prices

Diversified client base

Attractions

Combination of skills in employees

Facilities

Extensive advertising and marketing

Good hospitality

Ideal geographical locationMAHRUKH

SHEIKH(2014)

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WEAKNESSES

Lack of proper marketing and advertisement

Lack of adequate infrastructural support

Limited funds and financial situation

Lack of clear strategic allies.

Other Factors

-Corruption

-Begging and Cheating

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OPPORTUNITIES

□ Government spending on the tourism industry are increasing gradually.

□ A wider campaign in turkey has a lot of potential to attract tourists.

□ Attractive adventure sports and -Shopper’s Paradise-Climate and Weather

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THREATS

□ Stiff competition among various tourism industry

□ If the campaign fails to innovate it will lose its appeal.

□ Exploration of new tourist spots and hubs

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MARKET ANALYSIS

Buying Patterns : Quality of the service and places of Excursion. Considering the various interests of individuals and groups

Competition: We intend to market ourselves in such a way that potential

customers will choose our service over competitors' on the basis of our higher quality and informative excursions

MAHRUKH SHEIKH(2014)

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MAIN COMPETITORS

Efendi Travel(with moderate to deluxe travel styles, )

Argeus tourism & Travel(A fine all-around agency available with good guided tours)

Turkish Heritage Travel(A small but active and innovative travel agency and tour operator in Cappadocia)

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SALES LITERATURE

Color brochures including price and items.Will be mailed to potential customers upon

request.

Website www.beyoundtourism.com contains the information about The Hosts, Journey offered with dates, prices , terms and booking information.

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MARKET STRATEGY

□ Core element of strategy is “differentiation”

□ Extensive marketing of our name and services

□ Reasonable and competitive prices

□ Establishing long term relations with clients

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MARKET EXPENSES

□ This will be brought about by the development of sales literature and advertising expenses

□ This will be brought about by the development of sales literature and advertising expenses

□ However with time these programmed will start generating revenue for the business, which we shall in turn reinvest.

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SEGMENTATION□ We will ensure that our

service prices take into consideration organizations and people‘s budgets, and that these people, appreciate the value of our services.

□ The marketing will convey the sense of quality in every picture, every promotion, and every publication.

□ We realize the need to focus our marketing message and our service offerings

TARGET MARKET□ Hence we shall be

mainly targeting those who are want to see as many sites as possible

□ These people often do not want to waste their money on hiring vehicles to move about by themselves, but instead want to be escorted around places of interest by a reliable source

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MARKET NEEDS□ We understand that our target markets need more than just being shown the

areas of interest but also to be informed about their significance and origins.

Establishment of links with the various hotels, lodges, and travel agencies who often come into contact with our target customers.

In the medium term we intend to be connected on the World Wide Web so that we can market ourselves on the Internet, as well as enabling potential customers to make pre-bookings over the Web, helping save time and money.

SERVICE DISTRIBUTION

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PRICING□ However this will dictate that our costs are prudently kept so as to ensure our

financial goals come to fruition.□ Each trip will include an average of eight to ten persons.

□ The intention will be to highlight the benefit of utilizing our service(s), which will include:□ Access to exclusive travel destinations□ Service to fully appreciate destinations through information packages, and not just sight-

seeing□ Access to special interest travel according to the groups preferences

PRICING AND PROMOTION

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MANAGEMENT AND ORGANIZATION

□ Initially a single member will act as General Manager.

□ As company grows, a board of directors will be formed and additional employees will be added

in support, sales, field and marketing.

□ The human resources element shall be an essential component in the delivery of the total service

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