|Funding Required||RM1,000,001 to RM2,000,000|
|Description||Onontrip is a self-planning itinerary website, which will generate an itinerary automatically based on users interest and budget. The websites could help travellers to save time during trip planning and also avoid tonnes of time spent on researching on the point of interests of a particular destinations. Onontrip gives the best suggestions using our own-invented algorithm, which calculates the best attractions to visit, the amount of time to spend on each location, the best time to visit an attraction, budget to visit an attraction, best route to travel around, best transportation method to use, and also the best accommodation options. Onontrip also allows users to customize their trip using an easy approach user interface. In overall, we understand travellers need, and trip planning will never be easier than Onontrip.|
|Business Opportunity||1. Travelers nowadays often faced dilemma in choosing to go with a tour package or travel independently. ANS: We provide comparison of budget, places to visit, time spent etc. to a tour package vs a self-planned free and easy travel.2. People nowadays love to go with free & easy independent travel with evidence showing that more than 60% of travellers are travelling on their own. At such, travel itinerary planning becomes very vital before going on a trip. However, itinerary planning is very tedious and time consuming.
ANS: Our website will generate an itinerary automatically based on users’ interest while also allow users to customize their itinerary easily.3. Based on UNWTO data, year 2015 has recorded a total of 1.2billions tourist arrival internationally and recorded a total spending of over 1.3 trillion USD. It has grown 4% compared to year 2014. We target to focus on the 1% of tourist which are reluctant to plan an itinerary but keen to travel on their own.
4. More than 80% of the travellers are booking their hotels, flights tickets or even car renting through booking websites rather than travel agencies. Online booking websites for travel industry has now become a formidable force.
|Revenue / Business Model||Our source of revenue will be mainly relying on affiliate programs offered by various booking website. The website will recommend best deals for hotels and flights which suits the planned itinerary for travellers to choose from. This will encourage our users to book their flight tickets and hotel via our website.1. Hotels Affiliate Partnership with Booking.com / Agoda.com
These affiliate partners offers a commission sharing up to 60% for each hotel booking made.
Commission paid by hotels retailers to these website normally ranging from 10% to 30%. At such the commission received on our side will be ranging from 6% to 18% of the accommodation price.2. Airlines Affiliate Programs with Skyscanner.com / cheapflights.com
Commission up to 60% on each flight tickets booked.
Airlines normally shares a 10% commission to these booking website where our commission will be 6% of total flight ticket price.
3. Tour packages with local travel agencies or viator.com
4. Car Rental Websites
5. Telco services
6. Advertising Fees
Just an insight, for example a couple planning to travel internationally for 4 days and 3 nights, the revenue breakdown will be as such:
Assuming a minimum spending from travellers, the revenue our of this couple will be RM234 or RM 117 per traveller.
Assuming 60% of travellers are independent travellers, each year we will have:
Assuming we target 1% of these independent travellers.
Assuming 1% of our target audience made their booking through us.
Based on our preliminary calculation, each travellers booking will generate RM117 revenue,
*All calculations showed are based on realistic assumptions where the website is in fully completed stage internationally.
|Management Team||Currently our team is formed by 2 website developers and our design team partner.
However, our proper management team should our company get funded shall consist of:1. Website developer team consist of 3 software engineers
2. Database management team consist of 2 experienced travel professionals.
3. Customers Relation and Feedback team
4. Website technical analyst team
5. Finance and Accounting team
6. Marketing and Advertising team
7. User Interface Designing team
|Company Background||Our company – On On World Network is formed and registered in August 2015. Up to date we have received total of RM100k funding. The company now owns 2 website domains –onontrip.com and ononplace.com and a rented server based in US. Our website is fully functional but nonetheless we are still optimising it. We are currently working on our user interface design. We target to launch our beta version in mid year of 2016.
Our first target shall be on tourist interested in travelling to Malaysia, and will subsequently expand our services to target attractions in South-East Asia, Asia, Europe, North America, and lastly South America.
|Funding Milestone||1st quarter – RM 300k
To boost attraction databases to 10,000 locations in South East Asia including Malaysia, Singapore, Thailand, Indonesia etc.
For advertising and boost monthly unique visitor count to 10k users per month.
To further enhanced algorithm to predict tourist interest based on their country of origin and characteristic.2nd quarter – RM 300k
To enhance customer relation and feedback system.
To boost attraction database to 30,000 locations and expand to Asia region including Hong Kong, Korea, Japan, Taiwan etc.
For advertising and boost monthly unique visitor count to 30k users per month.
To start developing mobile application.3rd quarter – RM 200k
To boost attraction database to 50,000 locations and expand to high tourist visit count countries such as Australia, London, Paris, Rome etc.
Boost monthly unique visitor count to 50k users per month.
Enhance attraction spots photograph.
Introduce point award system for bookings rebate.
4th quarter – RM 200k
|% Equity Allocation||30%|
|Expected ROI||2 years|
|Risks and Mitigation||Startups company in US and India has started to develop similar websites, and may be a huge competitor to us. However, our understanding in the needs of trip planning could help us stand out from the competition. We find that all the trip planning websites currently have overseen some very important factors.There may be some misleading information shown on our website where we may costs the confidence level of our users.
We have planned a corrective feedback system which would allow users to notify us the error easily and help us to rectify the problems as soon as possible.There is a risk where our website developers will steal our script and ideas.
We do sign several agreements with our staffs including Non-disclosure agreement, Non-competition agreement, and Work for Hire Agreement to prevent leaked of information and company’s intellectual property.
|Exit Strategies||Buying back shares by the company at desired value by the investors in 3 years.|
|Company Name||On On World Network|
|Business Address||57 Jalan BU 6/13, Bandar Utama Damansara|
|Contact Person||Lee Yan Sheng|