Global Discoveries, Inc. | Application Preview
Global Discoveries, Inc. is seeking government grants to support their efforts in the Study Abroad industry, which has faced severe challenges due to the COVID-19 pandemic. The funding will primarily be used for travel to inspect venues and meet with local travel industry contacts to support student groups, as well as to maintain marketing strategies and cover ongoing operational costs like utilities and salaries.
The pandemic significantly impacted the business, leading to a projected 50% revenue decline for 2022 compared to pre-pandemic levels. To address this, Global Discoveries plans to revitalize their client base while attracting new educational clients. Their strategy includes creating a new interactive website, updating their marketing lists, and resuming in-person visits to universities. They believe that personal relationships and face-to-face interactions are crucial in maintaining their success.
With 20 years of experience in the industry, Global Discoveries has demonstrated resilience through various challenges, such as the aftermath of 9/11 and economic downturns. They have never defaulted on payments and emphasize their strong financial management background.
The company differentiates itself by providing customized assistance to educational institutions, rather than competing directly with other travel program providers. They pride themselves on being a partner to schools, offering tailored services that enhance existing Study Abroad programs. Overall, their competitive edge lies in their personalized approach and extensive experience in the field.
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General Information
Business Registration Number: 582263171
Location: Marietta, GA, United States
Length of Operation: 20
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: NO
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Funding Usage
we are in constant need of traveling to foreign countries to inspect venues (language schools, accommodation facilities) and to meet local travel industry personnel , who will eventually host our student groups. There is also a need for us to maintain marketing strategies (an online presence, etc.), which may include visiting potential clients throughout the USA. Additionally, we have on going operational expense (anything from electric bills to wife service), as well as salary compensation to consider...
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Business Plan
Due to the severity of the Covid'-19 pandemic to the "atmosphere" of the Study Abroad industry, both on the Global arena, in terms of the negative effects on international travel, as well as the closure of the majority of American educational institutions, we're basically going to be shutdown, without any hope of revenue, for 2020, 2021, and into 2022 (our best case scenario for 2022 business is 50% of our former gross income --- avg. of 2017 - 2019). Thus, we need to revamp our efforts in maintaining our existing client base, as well as obtaining new educational based clients. We plan to create a new, more interactive website; purchase updated email lists of both Study Abroad Directors, as well as for professors/teachers who plan/lead Study Abroad programs; and, we hope to "get back on the road", to visit schools across the lower 48, who value sending their students for language, cultural, and service oriented programs, throughout the world. Also, online marketing strategies will surely help us grow, we still believe (as we did when Global Discoveries was founded in 2000), that face to face interaction provides a special bond that can never be replaced. Our personal relationships with our client base, besides our exemplary services, is why we've been so successful, in a rather volatile industry... First in foremost, we've been able to succeed for 20 years, amongst all the outside forces detrimental to our industry/business. We survived the aftermath of 9/11, the collapse of the $USD in the mid to late 2000s, etc. Thus, we have a proven record...Our personal experience (note, we are only 2 full time employees, as our model has always been to outsource specific tasks as needed --- accounting, sales, internet services, etc., as well as all of our international service needs, which are basically on a study abroad program to program need basis). Thus, we have a "team", built on a combined global study abroad industry experience level of over 100 years, which is so valuable in an industry which is ever changing. Lastly, we've NEVER defaulted on a single payment in 20 years ! As a business degree graduate from Boston College, and being a son of a mother, whose parents were immigrants from Italy in the 1910s), I personally learned how to manage money from a VERY early age...
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Self Identified Competition
This is an interesting question, because we feel we don't really have any specific direct clients. There are companies like EF and CIEE who operate their own travel programs, and also attempt to do some overseas program customizing. However, we don't know of any competitor which literally will arrange any service, no matter how small/simple/, which will help make a clients Study Abroad program operate more efficiently. In fact, what our client base enjoys most about our services, is that they can send an email or give us a call, knowing that we're will to work as a partner on their own programs (some which have been in place for decades), or, we'll find a global partner who can step in to complete the task needed. The bottom line is, we don't try to convince an Educational institute to join one of "our" program experiences...we exist to assist schools with their own Study Abroad programs ! Please see above, as it is addressed in that answer...
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