As our world grows increasingly interconnected, the need for efficient, hassle-free international travel becomes more pertinent. Yet, for many highly productive citizens of low income countries, obtaining travel visas can be a daunting, expensive, and time-consuming process. This is where our proposed business - a Visa Clearing House - comes into play.
Executive Summary
Our business aims to establish a Visa Clearing House that streamlines the visa application process for our members. We will accomplish this by conducting thorough background checks and due diligence on members, charging an annual fee, and partnering with countries for automatic visa approval for our members.
Market Analysis
The global market for visa services is complicated and fragmented, creating a significant opportunity for a streamlined, member-focused service. By developing a high standard for membership, including background checks and due diligence, we can partner with governments for automatic visa approval for our members. Instead of having to apply for a new visa every time they visit a new country, membership in our Visa Clearing House will guarantee entry to our countries participating in our program.
Go to Market
Jump starting this business requires partnering with 2-3 countries to enroll in the Visa Clearing House. By enrolling, any member of the service will have a visa, likely a remote work visa, simply by being a member of the Visa Clearing House Company.
The best options for initial countries to join are small, prosperous countries, e.g. Barbados, Zanzibar. These countries have demand for remote work because of natural amenities, and their size makes it easier to negotiate directly with relevant stakeholders. Large countries and trading blocs, e.g. America and Shengen are too bureaucratic to consider a program like this.
Once first countries agree to participate in the Visa Clearing House, we should scale by both attracting members and additional countries.
Revenue Model
Our revenue model is based on an annual membership fee. The fee will be priced to reflect the value of the time, effort, and uncertainty saved by our service. As we expand our partnerships with countries and increase our membership base, we anticipate a growth in revenue. There are additional revenue streams that could be monetized, including earning float on bonds that countries require for entrance or creating a fund to invest in community led startups.
Business Development Strategy
To ensure the success of our business, we will:
- Establish partnerships: We will negotiate agreements with countries to facilitate automatic visa approval for our members.
- Implement a rigorous vetting process: To maintain the integrity of our service and the trust of our partner countries, we will implement a rigorous vetting process for new members.
- Focus on customer service: We will strive to provide excellent customer service, ensuring our members have a seamless experience from application to approval.
- Market aggressively: We will use digital marketing strategies to reach potential members and partner countries.
-Community engagement: We believe the best marketing strategy is building a strong community
Conclusion
Our Visa Clearing House business presents an innovative solution to a significant global issue. By streamlining the visa application process, we not only provide a valuable service to our members but also contribute to greater global mobility and economic integration. Through strategic partnerships, rigorous vetting processes, and a focus on customer service, we are confident in the success and growth of our business.
