ENTREPRENEURSHIP

BUSINESS PLAN
goEx Travel Co., Ltd
August 2024

Mr. Doan Hai Ninh - Founder

Ms. Nguyen Quynh Trang - Co-Founder
Ms. Pham Le Na - Co-Founder
Ms. Nguyen Thi Minh Phuong - Co-Founder
Ms. Ta Thi Huyen Trang - Co-Founder

Confidential
This document contains proprietary and confidential information. This document is provided for
informational purposes only. The contents may not be divulged, disclosed to third parties,
copied, duplicated or reproduced in any form, in whole or in part, without prior written consent
of goEx Company.

goEx Travel Co., Ltd

18 Tam Trinh - Hoang Mai- Ha Noi
Hotline: (+84) 220 003
Email: goEx.contact@gmail.com
Website: http://goEx.com.vn/ \
 Table of Contents

1. Executive Summary
2.Industry Analysis
2.1. The size of the industry
2.2. Its growth rate
2.3. Promising areas
2.4. Points of vulnerability
2.5. The industry structure
2.6. A feel for the nature of the participants in the industry
2.7. Key success factors
2.8. Industry trends
3. Company Description
3.1. General description
3.2. Explanation of the product or service and its positioning
3.3. Key partnerships integral to the business
4. Marketing Plan
4.1. Market analysis (Market segmentation)
4.2. Target customer persona (Consumer behavior)
4.3. Competitor analysis
4.4. Economics of the business
4.5. Marketing strategy
5. Operations Plan
5.1 Geographic location of business
5.2 Firm’s facilities and equipment
5.3 Overall schedule
5.4 The goEX’s structure
6. Financial plan
6.1 Sources of funds statement
6.2 Key assumption sheet
1. Executive Summary

GoEx is designed to provide a seamless and enriched travel experience for travelers. Unlike
traditional booking solutions, our app not only allows travelers to book flights, hotels, and
restaurants but also offers a community-driven space where travelers can share their experiences,
advice, and recommended travel routes (premium feature). This unique blend of booking and
social features transforms our app into a comprehensive travel companion.

Our business plan comprises several key sections, all contributing to the success of our travel
booking app. We began with Industry Analysis, highlighting the strong demand and favorable
market conditions for tech-savvy travelers looking for a more interactive approach to planning
their trips. Challenges such as competition and changing consumer preferences were also
addressed.

Recognizing the growth potential in this sector, we then outlined the Company Description,
focusing on our mission: "To provide a comprehensive travel booking platform that connects
travelers with personalized services and a community of like-minded individuals."

Our Marketing Plan targets young, tech-savvy travelers aged 18-35, who actively seek
convenience and community in their travel experiences. Our strategy includes digital marketing,
influencer partnerships, and collaborations with local businesses, aiming to achieve significant
traveler engagement and brand loyalty within the first year.

The Operations Plan details the platform's infrastructure, including app development, user
interface design, and customer service. It also outlines the roles and responsibilities of our team
to ensure smooth operations.

Finally, our Financial Plan includes a diverse funding approach and projects a steady revenue
increase due to strong market demand. We expect profitability within three years, supported by
multiple revenue streams such as booking commissions and targeted advertising.
2.Industry Analysis
2.1. The size of the industry

The online travel market in Vietnam was valued at approximately $3 billion in 2019 and is
expected to grow significantly as internet penetration and digital payment adoption increase.
Specifically, the market size of the online travel booking sector in Vietnam is substantial.
According to Statista, the revenue in the online travel booking segment is projected to reach $2.5
billion USD in 2024, with an annual growth rate (CAGR 2020-2024) of 9.3%. This indicates a
growing trend towards online travel services, driven by increasing internet penetration and
smartphone usage.

2.2. Its growth rate

The growth rate of the online travel market in Vietnam has been impressive. As per a report by
Google and Temasek, the online travel market in Southeast Asia, including Vietnam, grew at a
CAGR of 15% from 2015 to 2019 and is expected to continue this growth trajectory, reaching
$78 billion USD by 2025. Vietnam's share in this market is anticipated to grow as more
consumers shift to online platforms for their travel needs.

2.3. Promising areas

Promising areas within the industry include the integration of advanced technologies such as AI
and machine learning to enhance user experience, personalized travel recommendations, and
seamless booking processes. The Vietnam E-Commerce Association (VECOM) notes that
businesses adopting these technologies can significantly improve customer satisfaction and
loyalty. Additionally, niche markets like ecotourism and adventure travel offer significant
opportunities for specialized travel booking platforms.

2.4. Points of vulnerability

Despite its growth, the industry faces points of vulnerability such as fluctuating travel demand,
economic uncertainties, and the impact of global events like the COVID-19 pandemic.
According to a report by the Asian Development Bank (ADB), the pandemic caused a 45%
decline in international tourist arrivals in Vietnam in 2020, highlighting the industry's
susceptibility to external shocks. Adaptability and resilience are crucial for sustaining growth in
this sector.
2.5. The industry structure

The travel booking industry in Vietnam is moderately fragmented, featuring a mix of well-
established platforms such as Traveloka, Agoda, and Booking.com alongside numerous smaller
companies and startups. Although these major players dominate a significant portion of the
market, there is still blank space for niche providers catering to specific segments like luxury
travel or domestic tourism. This fragmentation will foster innovation and specialization, allowing
new entrants to address particular customer needs. However, the competitive landscape is
intense, and smaller players often face challenges in gaining market share against established,
resource-rich platforms.

2.6. A feel for the nature of the participants in the industry

The nature of participants in Vietnam's travel booking industry is characterized by a mix of

innovation and adaptability, with a strong emphasis on leveraging technology to meet evolving
consumer demands. Major players like Traveloka and Agoda are highly innovative, consistently
introducing new features such as personalized recommendations and integrated payment
solutions to enhance travelers' experience. On the other side, smaller players, while often
innovative in their niche offerings, may face challenges in adapting swiftly due to limited
resources. Generally, the overall industry is marked by a dynamic approach, with participants
continuously seeking to improve and differentiate their services to stay competitive in a rapidly
changing market.

2.7. Key success factors

According to the World Bank, fostering such partnerships is essential for expanding market
reach and improving service delivery. From there, we can build key success factors, such as
offering a seamless user experience, comprehensive travel options, competitive pricing, and
exceptional customer service. Partnerships with airlines, hotels, and local businesses can enhance
service offerings and drive growth.

2.8. Industry trends

A report by Vietnam Briefing indicates that personalized travel experiences, eco-friendly travel
options, and the use of social media for travel inspiration are shaping the future of travel booking
platforms in Vietnam. Therefore, digitalization will continue to strengthen and is expected to be
an industry trend, with technological advances, including the rise of artificial intelligence and
machine learning, enabling more personalized traveler experiences. On the business side, the
industry is experiencing fluctuating input costs, particularly in technology development and
digital marketing, which are essential for maintaining competitiveness. Additionally, the
increasing integration of social media platforms within travel booking apps is driving new
revenue streams and enhancing traveler engagement.

Overall, the long-term prospects for Vietnam's travel booking industry appear promising, with
continued growth expected due to the rising middle class, increased internet penetration, and a
sustained interest in travel among the population. Companies that can innovate and adapt to these
trends are likely to thrive in the coming years.

3. Company Description
3.1. General description
goEx is registered as a Limited Liability Company (LLC) in Vietnam, operating under the legal
name goEx Travel Co., Ltd. The company was founded by a group of entrepreneurs with
extensive experience in the travel and technology industries.Recognizing the increasing growth
in the tourism sector, as highlighted in our industry analysis, goEx was established in 2024 with
the mission to revolutionize the travel booking experience for travelers. Our platform aims to
bridge the gap between travelers and a myriad of travel service providers, including
accommodations, transportation, and F&B options, all in one convenient location. The idea for
goEx came from our recognition of the need for a more streamlined, user-friendly solution that
could meet the diverse needs of modern travelers. By providing a one-stop travel planning and
booking solution, goEx not only simplifies the travel process but also enhances the overall
experience through personalized recommendations and user-generated content. Our platform
offers features including daily itinerary and travel route recommendations, tailored to each
traveler’s unique interests and concerns. In addition, goEx integrates social media features to
create a community of travelers who can share their experiences and inspire others.

3.2. Explanation of the product or service and its positioning

goEx is designed to be the ultimate all-in-one travel booking platform for Vietnamese travelers.
Our services cover a wide range of travel needs, ensuring that travelers can plan and book their
entire trip comprehensively.

The main services - Comprehensive travel booking platform:

This core services of ours are completely free to our customers, including the following utilities:
- Accommodation: goEx offers a wide range of accommodation options, including hotels,
hostels, homestays, and resorts. Travelers can filter search results based on preferences
such as price, location, amenities, and user reviews.
- Transportation: We provide booking options for various modes of transportation,
including flights, trains, and car rentals. By linking services from multiple providers,
goEx ensures that travelers find the best routes and deals.
 - Dining Reservations: Our platform includes a curated list of dining options, from local
eateries to fine dining restaurants, allowing travelers to book and discover the best dining
experience throughout their trip.

Another unique selling point lies in our additional services - All-in-one solution and
experience sharing:
- Forum: Travelers can create a GoEx account and link it with existing accounts like
Gmail, Facebook, or Apple. With a goEx account, travelers can share their travel
itineraries, advice, experience and follow other travelers for inspiration. This integration
fosters a sense of community and enhances the overall travelers experience.
- Premium feature - Travel route suggestions and daily itineraries: goEx leverages user
data and preferences to recommend tailor-made travel routes and daily itineraries. These
recommendations are designed to help travelers maximize their travel experience based
on their preferences, time, and budget.

3.3. Key partnerships integral to the business

Key partnerships are essential to the success of goEx. We are collaborating with:
● Airlines: To offer competitive flight options and exclusive deals for customers, we
cooperate with renowned airlines (Vietnam Airlines, Bamboo Airways, and VietJet Air).
These partnerships enable us to provide a wide range of flight options and attractive
pricing to our travelers.
● Hotels and Resorts: To provide a diverse selection of accommodations and special
promotions, we partner with leading hotel chains and independent properties. Examples
include Vinpearl, InterContinental Hotels Group (IHG), and local boutique hotels. These
collaborations ensure that our travelers have access to a variety of lodging options that suit
different preferences and budgets.
● Transportation Services: To ensure comprehensive travel options, we connect with popular
transportation services, including train, and car rental companies. Our partners include
Vietnam Railways, Mai Linh Express, and Xanh SM. These partnerships allow us to offer
seamless connections and transportation solutions for our travelers' travel needs.
● Dining Reservations: To offer our travelers a curated list of culinary experiences, famous
restaurants, we also connect to local specialty restaurants of each locality, ensuring a
variety of choices for tourists, with needs ranging from high-end experiences to exploring
local cuisine. These partnerships help us provide exclusive dining deals and reservations to
enhance our travelers' travel experiences.
● Technology Providers: To ensure a seamless and secure booking experience, we
collaborate with tech companies such as VNPAY, MoMo, and ZaloPay for payment
processing, as well as leading cybersecurity firms to protect user data. Additionally, we
work with Expedia companies to use their travel fare aggregators and their travel
 metasearch engines, including Hotels.com, Travelocity, Hotwire.com, Ebookers,
CheapTickets, CarRentals.com, Wotif, and Trivago.
These partnerships will not only enhance the user experience but also drive mutual growth and
success for goEx and our partners.

4. Marketing Plan
4.1. Market analysis (Market segmentation)
- Geography: National Audience
● Primary Focus: Developed cities such as Hanoi, Ho Chi Minh, Da Nang, Hai Phong, Nha
Trang.
● Secondary Focus: Other major cities in Vietnam.
- Demographic:
● Age: 18-35 years old.
● Gender: Open for all; no gender restrictions.
● Income Level: Middle-class, focusing on those with average salaries.
- Psychographic:
● Personality: Adventurous, budget-conscious, family-oriented, social, and romantic.
● Attitudes: Eager to explore new places, value affordability and quality, family-centric,
prioritize convenience, and seek romantic getaways.
- Target customer segments:
● Segment 1: University students and young couples.
● Segment 2: Families and individuals with average salary.

4.2. Target customer persona (Consumer behavior)

Segment 1: University students and Segment 2: Families and individuals

young couples with average salary.

Age 18-24 years old 25-35 years old.

Travel Seeking adventure, exploration, budget- Quality family time, creating memories,
motivation friendly travel options, and romantic affordable but comfortable travel, and
getaways. relaxation.

Income level Limited disposable income, reliant on Middle-class, dual-income households

allowances or part-time jobs. with a focus on saving.

Behaviors - Highly active on social media, sharing - Plan trips well in advance to
travel experiences, photos, and reviews. coordinate schedules and meet all
- Prefer traveling with friends or as family members' needs.
couples, seeking shared experiences. - Prioritize destinations with family-
- Always looking for deals and cost- friendly attractions, activities, and
effective travel solutions. accommodations.
 - Eager to explore new and unique - Look for comprehensive packages that
destinations, engage in adventurous balance quality and affordability.
activities. - Emphasize safety and comfort, prefer
- Often make last-minute travel reliable and reputable travel services.
decisions, needing flexible options. - Seek travel experiences that provide a
break from daily routines, focus on
relaxation and leisure.

Barriers - Limited disposable income, often - Struggle to find travel options that
reliant on allowances or part-time jobs, balance between quality and
making it difficult to afford travel affordability, without compromising on
expenses. comfort and safety.
- Concerns about the credibility and - Worry about hidden costs and
reliability of lesser-known travel additional fees that may arise during the
platforms and services. trip, leading to unexpected expenses.
- Decisions heavily influenced by peer - Emphasize the importance of safety
recommendations and social media and prefer reputable, reliable travel
trends, which can deter them from services, particularly for family-friendly
trying new services trips.
- The overwhelming options can lead to - Difficulty in aligning the schedules of
decision fatigue, making it hard to all family members, particularly with
choose the best option. work and school commitments.
- Need for flexible booking options to - Having no time to make a plan due to
accommodate spontaneous travel plans, busy work
which may not always be available.

4.3. Competitor analysis

- Direct competitor (domestic market)
Mytour.vn Vietravel

General - Founded in 2012. - Founded in 1995.

information - An online travel agency - A long-standing travel company
focusing on offering competitive providing both online and offline travel
prices and deals for local services, with a strong brand presence.
travelers.

Strengths - A deep understanding of the - Strong brand, extensive offline support

local market. - Comprehensive range of travel
- Offer competitive pricing and services, catering to various travel needs.
exclusive local deals.

Weakness - Lacks advanced tech-driven - Reliance on offline services means ->

features and personalized less innovative in the online space
experiences. - Outdated approach to tech-savvy
- Focus more on price travelers.
 competitiveness.

Target customer - Lower to middle-income - Middle to upper-middle-class

- Budget-conscious, looking for - Value the assurance of a well-
the best deals and local pricing. established brand and extensive offline
support.

Product features - Focus on competitive pricing. - Travel services including tours, and
MICE (Meetings, Incentives,
Conferences, and Exhibitions) services

Positioning over - Foster a community-driven experience with user-generated content and

competitors social media integration.
- Personalized itineraries and travel routes enhance user experience uniquely.
- Strong focus on local experiences.

- Indirect competitor (expand international market):

Traveloka Agoda Vietravel

General - Founded in 2012, - Established in 2005, - Founded in 2014, based in

information headquartered in headquartered in Hong Kong.
Jakarta, Indonesia. Singapore. - Specializes in tours,
- Major player in - Known for extensive offering unique experiences
Southeast Asia's travel accommodation listings and tickets for various travel
industry. and global reach. activities globally.

Strengths - Extensive travel - Wide range of - Diverse activity offerings.

services. accommodations. - Seamless booking
- Strong regional - Competitive pricing. experience.
presence.

Weakness -Limited focus on - Limited focus on social - Lesser focus on

social features. features. accommodations.
- Less personalized - Less personalized - More suitable for short
recommendations. recommendations. trips.

Target - Budget-conscious - Travelers seeking varied - Adventure and activity

customer travelers. accommodations. seekers.
- Southeast Asia - International travelers - Tourists looking for
market. unique experiences.

Product - Comprehensive travel - Large database of hotels - Easy-to-book tickets for

features packages. and rentals. attractions.
- Loyalty programs and - Regular flash deals and - Mobile app with real-time
discounts. promotions. updates.
After carefully analyzing all current types of competitors, we can confidently say that our
business model still has many unique sell points that can attract potential customers, as well as
maintain them to be loyal customers, and therefore quickly gain a strong position in the industry.

4.4. Economics of the business

a) Gross margin and contribution margin:

● Exclusive and premium subscription packages:
- Gross margin: If we estimate the cost at 20,000 VND per subscription, the gross margin
would be:

Gross margin = 80,000 VND (selling price) - 20,000 VND (costs) = 60,000 VND per
subscription.

- Contribution margin: After considering additional variable costs like marketing and
customer support, which might be around 10,000 VND per subscription, the contribution
margin is:

Contribution margin = 60,000 VND - 10,000 VND = 50,000 VND per subscription.

● Advertising from travel service providers:

- Gross margin: If these take up 5% of the revenue, gross margin = 95% of advertising
revenue.
- Contribution margin: After further deductions for commissions and specific campaign
costs, we estimate the contribution margin to be about 90%.

● Booking fees for flights, hotels, and other services:

- Gross Margin: The main cost here is for transaction processing. If that’s around 0.5% of
the booking value, gross margin = 2.5% of the booking value.
- Contribution margin: Factoring in customer acquisition and other variable costs, we
estimate a contribution margin of about 2% of the booking value.
b) Analysis of business fixed and variable costs:
- Fixed costs: These are costs that don’t change regardless of how much we sell. Here’s
what they look like for GoEx:
○ Application development: 5,000,000,000 VND (one-time)
○ Ongoing maintenance: 500,000,000 VND (every six months)
○ Content production and management: 100,000,000 VND (monthly)
○ Office rent and utilities: 20,000,000 VND (monthly)
○ Salaries and benefits: 300,000,000 VND (monthly)
○ Recruitment and training: 20,000,000 VND (monthly)
○ Total fixed costs per year: 11,280,000,000 VND
- Variable costs: These costs fluctuate based on how much business we do:
○ Digital advertising: 300,000,000 VND (monthly)
 ○ Brand promotion and public relations: 200,000,000 VND (monthly)
○ Total variable costs per year: 6,000,000,000 VND

c) Operating leverage and Break-even point:

● Operating leverage:
- goEx has a high level of fixed costs, which means our operating leverage is high. In
simple terms, once we cover our fixed costs, any additional revenue will significantly
boost our profits.
● Break-even point:
- To break even, we need to cover our total fixed costs through our contribution margin.
Assuming an average contribution margin of 40%, the break-even revenue would be:

Break-even revenue = Total fixed costs / Contribution margin ratio

Break-even revenue = 11,280,000,000 VND / 0.40 = 28,200,000,000 VND.

This means goEx needs to generate at least 28.2 billion VND in revenue to cover all costs and
start making a profit. Understanding these numbers is crucial for planning and managing the
business effectively, especially in a startup like ours.

4.5. Marketing strategy

After carefully researching, analyzing, and brainstorming, we have developed a basic marketing
strategy for our service and company in the infancy period. This strategy is based on the 4P’s
principle of marketing by Philip Kotler and will be implemented over the first six months.
● Product:
goEx is designed to make travel planning as smooth and enjoyable as possible by integrating key
travel components like accommodations, transportation, food and beverage (F&B), and activities
into one user-friendly platform. What makes goEx stand out is its AI-driven recommendation
system, which tailors suggestions based on user preferences and past behaviors. This
personalized approach ensures that every traveler gets the most relevant options.

Additionally, goEx allows users to share their experiences and connect with fellow travelers,
fostering a community spirit. The platform also offers flexible payment and cancellation policies,
making it adaptable to various needs. To ensure trust and safety, goEx includes reviews, ratings,
and travel stories from real users, along with options for verified providers, child-friendly
choices, and travel insurance add-ons.

● Price:

Package Features Target Audience Price

 Basic - Access to search & Budget-conscious Free/Low-cost
booking youth
- Minimal fees

Premium - Personalized Families & frequent Subscription/Pay-per-

itinerary travelers use
- Exclusive discounts
- Premium support

Commission Fee per booking from Service providers Percentage of

service providers (hotels, transports,..) booking value

goEx employs several discount strategies to attract and retain users:

- Early bird discounts: These are aimed at encouraging early bookings, particularly appealing
to families who prefer to plan their trips in advance. By offering these discounts, goEx can
secure bookings early and reduce last-minute rushes.

- Last-minute deals: Recognizing that younger travelers often make spontaneous plans, goEx
offers last-minute discounts to cater to this demographic. This strategy not only fills up
remaining slots but also taps into the flexible nature of younger users.

- Referral programs: To leverage social networks and peer influence, goEx provides discounts
or credits to users who refer new customers. This approach is especially effective among
university students and young couples, who are likely to share their experiences with friends.

● Place (Distribution):
- Online presence:
+ Website: The website is the core of goEx’s operations, where all bookings and
interactions take place. It’s designed to be mobile-friendly, considering the high
smartphone usage among young people and families in Vietnam.
+ Mobile app: The dedicated app enhances the user experience by offering features like
push notifications for deals, offline access to itineraries, and easy management of
bookings. This makes it convenient for users to plan their trips on the go.
- Partnerships:
+ Travel service providers: goEx collaborates with a variety of service providers,
including hotels, transportation companies, F&B outlets, and local tour operators. These
partnerships allow goEx to offer exclusive deals and a wide range of options to users.
+ Universities and student organizations: By engaging directly with student bodies, goEx
positions itself as the go-to travel platform for student trips and vacations. This
connection helps tap into the student market effectively.
+ Family-friendly brands: goEx partners with brands that cater to families, such as those
in baby care or education, to cross-promote the platform as the ideal choice for planning
family vacations. This helps in reaching out to families looking for reliable travel options.
 ● Promotion:
- Digital marketing:
+ Social media campaigns: goEx utilizes platforms like Facebook, Instagram, and TikTok
to reach young travelers with engaging content, including travel tips, destination
highlights, and user-generated stories. For families, the focus is on Facebook and
YouTube, which have a broader, more mature audience.
+ Influencer marketing: By collaborating with popular travel influencers, especially those
who resonate with university students and family bloggers, goEx showcases real travel
experiences and the benefits of using the platform.
+ SEO and content marketing: goEx plans to create a blog or resource center on its
website, offering travel guides, tips, and itineraries. By optimizing this content for search
engines, goEx aims to attract organic traffic and establish itself as a helpful resource for
travelers.
- Offline marketing:
+ Campus events and sponsorships: goEx hosts or sponsors events at universities to
engage directly with students. This could involve travel fairs, budget travel workshops, or
sponsoring university trips, helping to build brand awareness among students.
+ Family-focused events: Participating in family expos or community events allows goEx
to promote its family-friendly offerings and connect with potential customers in a more
personal setting.
- Customer retention programs:
+ Loyalty programs: To encourage repeat bookings, goEx offers a loyalty program where
users earn points or credits that can be redeemed for discounts or special perks. This
strategy appeals to both young travelers and families, incentivizing them to return to
GoEx for future travel needs.
+ Personalized email campaigns: goEx sends tailored recommendations and exclusive
offers to users based on their previous bookings and interests. For instance, a family that
booked a beach holiday might receive offers for similar destinations, making the platform
more relevant and engaging for them.

5. Operations Plan
5.1 Geographic location of business

Due to the nature of our work, which requires constant testing, debugging, and improvement, we
decided to rent an office in an office building. This not only helps enhance our work efficiency
but also builds a positive image with partners and customers, contributing to the sustainable
development of our company in the highly competitive travel sector. We have found an office of
about 130 square meters in the VTC Online Building located at 18 Tam Trinh, Hai Ba Trung,
Hanoi. This place offers reasonable rental rates, convenient transportation, and, most
importantly, meets our needs for a moderately sized space.

5.2 Firm’s facilities and equipment

- Essential facilities:
● Office space: private offices, meeting rooms, reception area, break rooms, and kitchen
 room.
● Internet and network infrastructure: high-speed internet connection, and Wi-Fi access
points.
● Recreation and rest areas: game rooms or entertainment zones.
● Electrical and safety systems: fire alarms and extinguishing systems, and security systems
and surveillance cameras.

- Essential equipment:
● Computers and hardware: desktop computers, printers and scanners.
● Software and development tools: project management software (Trello), communication
tools (Slack), version control systems (GitHub or GitLab), graphic design tools (Adobe
Creative Suite, Sketch, Figma).
● Mobile devices for testing.
● Presentation and video conferencing equipment:
● Storage and data management tools (AWS, Google Cloud, Microsoft Azure).

5.3 Overall schedule

Milestone Expected start date Expected end date Expected

duration

Market research & 01/10/2024 31/10/2024 1 month

Business planning

Secure funding 01/11/2024 27/01/2025 1 month

Infrastructure setup 03/02/2025 31/03/2025 1 month

App development 03/02/2025 03/04/2025 2 months

Beta launch and 04/04/2025 04/05/2025 1 month

feedback

Marketing and pre- 05/05/2025 05/06/2025 1 month

launch activities

Official app launch 06/06/2025 06/07/2025 1 month

Post-launch and 07/07/2025 07/08/2025 1 month

scaling

First break-even --- 05/05/2027

month
5.4 The goEX’s structure

6. Financial plan
6.1 Sources of funds statement

The total capital required to launch and sustain the travel app for the first year is estimated at
about 20.000.000.000 vnđ. This funding will cover the comprehensive costs associated with app
development, marketing, content creation, and initial operations.

Sources of funding Accounted for Estimated amount

Personal sources 10% 2.000.000.000 vnđ

Initial loans 30% 6.000.000.000 vnđ

Investor funding: Venture capital 40% 8.000.000.000 vnđ

Profit from operation 5% 1.000.000.000 vnđ

Credit line 15% 3.000.000.000 vnđ

Total cost of funding 20.000.000.000 vnđ

6.2 Key assumption sheet

- Revenue assumption
● Revenue from exclusive and premium subscription packages for the customer accounted
for 20% total revenue of our business. We expect that nearly 10% of users will use the
premium subscription service, which costs an average of 80,000 vnđ/month. The monthly
growth of the number of premium users is expected to be 8%, thanks to exclusive
features and content.
● Advertising from travel service providers: to launch the business, we are also taking
advantage of advertising fees from travel service providers such as hotels, airlines, travel
services, and this revenue may account for 30% total.
● Booking fees for flights, hotels, and other travel services: We will take commission from
the price difference between services provider provide and customers pay. These fees are
calculated based on a percentage of the booking value, with an average fee of 3% per
transaction, and this revenue accounts for 50% of total.

- Cost assumption
We apply both value-driven and cost-driven strategies to our travel booking app to
provide customers with the best experience. By focusing on value, we invest in high-
quality content, exceptional user experience, and targeted marketing to deliver superior
service. Simultaneously, we optimize costs in development, operations, and personnel to
maintain competitive pricing and ensure long-term sustainability. This balanced approach
allows us to offer a premium experience while efficiently managing our resources.

Type of cost Name of cost Estimated amount Payment

Fixed cost Application development costs 5.000.000.000 vnđ One-time

Ongoing maintenance 500.000.000 vnđ Half a year

Content production and management 100.000.000 vnđ Monthly

Office rent and utilities 20.000.000 vnđ Monthly

Salaries and benefits 300.000.000 vnđ Monthly

Recruitment and training 20.000.000 vnđ Monthly

Total fixed cost 11.280.000.000 vnđ

a year

Variable cost Digital advertising 300.000.000 vnđ Monthly

 Brand promotion and public 200.000.000 vnđ Monthly
relations

Total variable 6.000.000.000 vnđ

costs a year

Appendix

Type of cost Percentage in initial capital in the 1st

year

Application development costs 25%

Ongoing maintenance 5%

Content production and management 6%

Office rent and utilities 1,2 %

Salaries and benefits 18%

Recruitment and training 1,2 %

Digital advertising 18%

Brand promotion and public relations 12%

Total 86,4%

Remainder 13,6%

Appendix1. Money allocation in the first year

Reference

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