Local Gastronomy Tours Business Plan

The purpose of the paper is to provide a comprehensive and clear overview of our business idea,not only as part of the IMBA final evaluation but also because we have spotted a gap in the expectations of tourists regarding the culinary experience and some specific niches of underused assets with great potential.We strongly believe that it is worthy of devoting our effort and time for launching this solution in the market and to help both parties connecting and reaching full potential.Culinary Tourism is a growing trend in today's market where local cuisine has become an important element for tourists to closely experience a country's culture and people.Due to my Latin American origin and background I know how difficult it is for tourists in many Latin American countries to have access to local cuisine activities that offer the flavors and texture characteristics of that culture they are aiming to discover as well as the human touch of experience.Therefore,our project aims to create an essential channel for foreign and local tourists who want to experience up close memorable culinary moments submerged in local environments with a wide variety of culinary activities to choose from.At the same time it will offer a centralized platform for local producers and tour companies that want to provide high quality tours.This paper will present a complete framework to develop this business idea detailing the steps that must be followed to successfully implement a culinary tool in the Colombian market.We will specify which are our core competences and organizational capabilities that will allow us to achieve our success in the Colombian market and what will be our marketing plan to reach foreign a local foodies.After developing the business model and taking into account a conservative customer reach and different market variables,we see with good eyes the business model for the next five years with revenues around 2.1 million dollars and a net profit of 200 thousand dollars and an Internal Rate of Return of 50.3%.