How to Become a Travel Agent: Starting Your Business
Starting your own travel tour agency but don’t know how to compile your business plan? Here’s an example of a dummy company’s business plan to get you thinking about how to create yours. Travel Tour Agency Business Plan 1. Executive Summary. The tourism industry has undergone rapid growth of unsurpassed nature over the last several decades. How to Start a Travel Agency: This article is U.K. specific, but still worth a read even if you are starting a travel business outside the U.K. Startup Costs for a Home Travel Agency: Delves into the process of becoming a travel agent through a host agency.
Last Updated: January 7, References Approved. Laura Krueger right and Michelle Donson left are Travel Specialists and the Founders of LM Media Worldwide, a free service that sources and negotiates contracts for hotel rooms and meeting space needs.
With a combined 30 years of experience, they specialize in hospitality sales, how to look up words in kindle fire dictionary and rate negotiations, room reservations, and wedding planning.
Laura holds a BS in Business Management with High Honors from Rutgers University and has directed several sales teams, negotiated thousands of contracts, and consistently exceeded national sales goals for hotel chains such as Wyndham, Radisson, and Starwood.
There are 11 references cited in this article, which can be found at how to wear stockings with shorts bottom of the page.
This article has been viewedtimes. In the modern marketplace, setting up and running a successful and profitable travel business is a highly challenging task. There are a number of ways to enter the travel industry. If you have a love of travel and are planning to have a career in this industry, investing in your own business is a good option.
Not necessarily! When people book travel packages through your travel agency, they won't then go right to the airport to begin their vacations. You don't need to be near a transportation hub in order to have how to make water drops in photoshop successful travel agency.
Pick another answer! It's important that people are able to find your travel agency. You want your signage to be visible from a major road, for instance. And if you're targeting a certain demographic say, retireesyou want to be somewhere where that demographic is common.
Read on for another quiz question. Try again! You don't want to set up shop too close to a competing business. It's good to be nearby other businesses in general, as that increases foot traffic, but you don't want to be too close to other travel how to establish a travel agency business. Try another answer That's right! Because you'll be booking trips on behalf of your clients, you'll need a special account to hold the money they give you for that purpose.
And, of course, you'll also need a separate account to keep track of the money that comes into and goes out of your business. When you start your home travel agency, you won't need to open another personal banking account.
The exception is if you don't already have a personal bank account you should make one, but even then, that's not part of your travel business. It's a very good idea to have a special account where you keep the money clients give you to book trips on their behalf. But starting a home travel agency doesn't require you to open another personal what are frenched lamb chops account, assuming you have one already.
Why is it less expensive to become an independent contractor than a franchise owner? You'll always need to pay a fee in order to start up a franchise. You may or may not have to make an initial investment in order to become an independent contractor, but if you do, it will be significantly less expensive than a franchise license would be. Not quite! Independent travel contractors usually work out of an office rather than out of their home.
And the host agency will not pay for your office space, so you'll have to pay rent just like you would if you were setting up a franchise agency. How much money you make per booking will depend on the agency you work with, but as a general rule, a franchise owner will make more than an independent contractor. This is because an what to wear to a photoshoot with family contractor's host agency handles a lot of the behind the scenes work and so takes a bigger cut.
The cost to become an independent contractor or franchisee varies from agency to agency, so it can be wise to shop around for the best deal. But in general, you'll have to pay more to become a franchise holder than an independent contractor. To start a home-based business in the travel industry, decide if you want to earn referral fees from bigger companies, or if you want to book and sell travel packages yourself. Next, write a business plan that provides a solid foundation for your company.
Then, start building relationships with vendors to help you negotiate deals for your clients. Finally, implement a marketing strategy using a combination of print and digital advertisements, as well as social media marketing. To learn more about becoming an independent contractor, read on! Did this summary help you? Yes No. Log in Social login does not work in incognito and private browsers. Please log in with your username or email to continue.
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Method 1 of Understand the travel industry. First, you need to familiarize yourself with different aspects of the travel industry. Get as much information as possible about air travel, rail travel, cruises, hotels and vacation destinations. Also, learn about what type of travel packages are popular among customers and so on. How long does it take for teeth to grow in can search the internet or find books at the local library to help you research the many facets of the travel industry.
Additionally, you can directly contact companies in the travel industry, such as cruise ship companies or hotels. You may want to consider a niche market depending on your specific location or interests. A niche market is a focus on a specific product or sector of an industry. Analyze your requirements. A travel franchise business has many benefits. However, each franchiser will have specific requirements, and remember that you will have to split your profits with the franchiser.
Each franchiser will provide potential franchisees with their specific requirements. Make sure you compare them and their requirements to find the right fit for you and your business. There are many websites and books available to help you learn more about and compare the different franchises available. Franchises typically require an initial monetary investment to purchase a franchise. This can be as much as tens of thousands of dollars. Get a franchise license. Obtain travel franchise business licenses and permits of the reputed travel company you chose.
The franchise company you choose will provide you with these legal documents. Sign the franchise agreement after proper analysis. Review all the points mentioned in the agreement and ask the franchiser any questions you may have. Consider hiring an attorney to review any legal documents included in this process. Check with local government agencies for any additional licenses or permits that may be needed.
Look for a suitable location. You will need a good location where clients can come and meet with you. Your office must have ample space to house your computers and other essential equipment. A real estate agent or website can help you find the right location.
If available in your area, try to find a real estate agent who specializes in commercial property. The location you choose should be highly visible and traveled by those customers you wish to target. Hire consultants and employees. An accountant will help you to manage your finances effectively. Additional employees may be needed depending on the size or your franchise and the business plan.
You can find and research professionals, such as accountants, on the internet, in a local phone directory, or through local organizations, such as a chamber of commerce. Local staffing agencies or advertisements in local papers can help you find the right employees to make your business a success. Develop marketing strategies: In a franchise travel business, the franchiser will definitely carry out the major advertising and marketing work. However, you will need to do some marketing within your territory to make people aware of your newly established business.
Consider joining local organizations for business owners, such as a chamber of commerce. Compare mass marketing alternatives, including print, radio, and television advertisements, for your target market.
Include internet and social media marketing in your marketing strategies.
Step 1: Create a plan for your travel business
Jan 07, · A travel franchise business has many benefits. However, each franchiser will have specific requirements, and remember that you will have to split your profits with the franchiser. Each franchiser will provide potential franchisees with their specific requirements. There are many different travel agency franchises. Oct 15, · The Future of The Travel Agency Business After COVID The effectiveness of governments and regulators, who on a global basis must establish the threshold minimum standards and address quarantine restrictions and travel barriers to facilitate the return of travel, is critical, as well as the introduction of effective vaccines. Jan 07, · Find a Travel Agency Niche: A niche is your friend. When you start your home based travel agency, a niche will help you establish your brand, create your travel agency name, and navigate the world of consortia when you get to that point. Starting a travel agency without a niche is like traveling without a compass (or, let's be honest, a.
The tourism industry has undergone rapid growth of unsurpassed nature over the last several decades. We are on the brink of penetrating a lucrative market in a rapidly growing industry.
The current trend towards an increase in the number of tourists entering the country presents an opportunity for Sephats Tours to penetrate the market. Sephats Tours is poised to take advantage of this growth and moderate competition in the city travel portion of the industry, with a dedicated and experienced staff, excellent networking, and effective management and marketing. Sephats Tours intends to provide travel and adventure packages to tourists primarily in the Southern region, but also the whole of Botswana.
Services and products provided by Sephats will initially include pre-arranged tours, custom packages according to clients specifications, travel consultation, and as time progresses making reservations for lodging amongst other related services.
Sephats Tours seeks to differentiate itself as the premier adventure mobile operator in the greater Gaborone area. Our services will be positioned very carefully: They will be of extremely high quality, comfortable, informative and tailored to the clients needs such that they will enable individuals to have a greater appreciation of the natural environment and its intricacies.
Our marketing strategy will be based mainly on ensuring customers know about our existence and the service s we fulfill. Hence our intention is to make the right information available to the right target customers. This will be done through implementing a market penetration strategy that will ensure that we are well known and respected in the tourism industry.
The marketing will convey the sense of quality in every picture, every promotion, and every publication. Our promotional strategy will involve integrating advertising, events, personal selling, public relations, direct marketing and the Internet, details of which are provided in the marketing section of this plan.
This element will assist in differentiating us from our competitors and contribute towards the development of a sustainable competitive advantage.
Hence we need to engage the right people in the right place at the right time if we are to ensure optimum growth. We intend to develop our team so that our people can grow as the company grows — a mutually beneficial relationship. We project sales to increase from more than P, Botswana Pula [P] the first year to more than P, the second, and P, in the third year.
In a nutshell, we do not just intend to market and sell our service, but to market and sell travel solutions and a total-quality environment. This will ensure we establish a reputable corporate image. Our business strategy will revolve around the need to provide quality service to our various target customers, in the process fully satisfying their needs. With time our marketing campaign will increase the awareness of our services in the various market segments we shall be targeting.
This is particularly so with the organisation looking at establishing a clear advantage s in an increasingly competitive market. We will provide clients with the opportunity to focus on their core activities whilst their transportation side needs are fully satisfied.
Marketing material shall be professionally done so as to be reflective of our intended image and reputation. We shall position ourselves as a quality commercial transportation operator that provides customer-need fulfillment, enjoyment, reliability and a good image.
We intend to establish a good rapport with all the relevant stakeholders, especially hotels and travel agents. We also intend to have well-designed brochures and other promotional material that will enable clients to have an understanding of the types of services we offer and advantages of utilising them. In addition well-done, informative brochures, fact sheets and business cards often have a triggering effect on clients contemplating utilising our services.
Hence this will undoubtedly generate increased sales of our service. Internally we intend to create and nurture a healthy, exuberant, respectful, and enjoyable environment, in which our employees are fairly compensated and encouraged to respect the customer and the quality of the service we intend to provide.
In addition follow-up will be mandatory so as ensure customer satisfaction and make any improvements as recommended by the customers in future.
We seek fair and responsible profit, enough to keep the company financially healthy for the short and long term, and to fairly remunerate employees for the work and effort. The keys to Sephats Tours success will undoubtedly be effective market segmentation through identification of several niche markets and implementation strategies.
Along these lines the company intends to implement advertising, personal selling and direct marketing strategies to the target markets. Our personal selling marketing strategies will rotate around keeping in touch with hotels and travel agencies for major customers, and advertising for more individual customers. Sephats Tours seeks to differentiate itself as the premier adventure travel company in the greater Gaborone area.
As it grows it will take on people and expand into related markets and services. It will also look for additional leverage by establishing relationships and representations with appropriate strategic allies. Sephats Tours is a Private Limited company incorporated at the Registrar of Companies through the foresight and vision of Mr.
X and Mrs. Thus far the directors have contributed one hundred and sixty seven thousand pula P, to purchase a Mercedes Benz mini bus currently in its possession and P30, for cash expenses. Total start-up expenses covered including legal costs, business plan compilation, license costs and related expenses come to approximately P5, However, as time progresses the intention is to move into more accessible and attractive offices in a prime area. This regardless of the fact that our type of business is not too dependent on office location and size.
Sephats Tours is a travel company that intends to deliver leisure travel excursions to customers. Sephats intends to guide customers in selecting a trip s based on pre-defined vacation criteria. This analysis will be based on user profiles, set by the consumers, which includes preferences such as:.
A traveler will hence be able to select areas of interest based on their preferences and subsequently identify destinations to visit. There are presently few competitors offering services similar to ours.
However considering the pace of change and current growth rate of the tourism industry luring many companies into the sector, this may be short-lived. Hence there will be a need to not only firmly establish ourselves on the market, but also strongly differentiate ourselves from these other businesses. However on a broader scale our competition comes in several forms:. The most significant competition are hotels and travel agencies offering travel excursions to their clients.
They undertake this service in order to establish a competitive advantage over their competitors. However, instead of directly competing with them we intend to establish good working relationships in the form of strategic alliances such that we are able to offer the service for their clients and thus enabling them to concentrate on their core activities whilst ensuring customers are fully satisfied.
Our key advantage in this regard will be our specialty of the service and hence wide knowledge ensuring customer satisfaction at all times as well as flexibility in providing the service.
Existing hotels, lodges and travel agencies may identify the opportunity to diversify into our intended services utilising their current client database.
Naturally, existing clients will be inclined towards utilising these familiar companies due to the fact that a good relationship may have already been nurtured over the years during their business dealings.
This presents a potential challenge to us, as we need to aggressively market our services and expertise in the field. Existing safari operators that mainly focus on the remote environs such as Maun and Kasane are at times able to compromise, offering excursions in and around Gaborone, though very rare.
Hence we intend to focus on this market. An analysis of competition is provided in the Market Analysis section of this plan.
Sephats Tours intends to offer the service and knowledge a discerning leisure traveler seeks whilst on vacation, with the intention of seeing and appreciating the numerous sights in the area. Keeping in mind the comforts of a tourist, our fleet shall be very well maintained and designed as per customer standard and expectations. However not wanting to limit ourselves we intend to be open to special hire by churches, organisations, groups, schools and sports teams, amongst other related groups.
Integrating the above places of interest into our tours we intend to be offering the following tours:. At a large scale research demonstrates that tourism is undergoing a rapid growth of unsurpassed nature. Generally there is a trend towards shorter stays but increased visits, as individuals strive to experience as many cultures as possible, including seeing as many attractions as possible. A destination that unlocks the mystery of nature — an oasis in a wilderness which is an ideal escape for nature lovers.
Very little of this fascinating country has seen human habitation — this is true Africa in all her remoteness and authenticity. With such marketing in place the number of tourists entering the country is bound to increase, presenting a larger potential market for ourselves.
This potential market is what we seek to tap. The business will begin with a general corporate brochure establishing its position on the market. This brochure will be developed as part of the start-up expenses including the business cards and Company Profile, mainly for the large organisations that often recommend services to potential customers.
Compliment slips are also intended so as to raise awareness of the company and its services. We also intend to have information pamphlets that will provide information on our various tour packages. Literature and mailings for the initial market forums will be very important.
The key fulfillment and delivery will be provided by the employees of the company. The real core value will be professional expertise, provided by a combination of expertise, experience, hard work, and education in that order.
We will turn to reputable companies for supplying the necessary individuals and groups for our services. Hence the need to establish good relationships with our strategic allies.
Sephats Tours will strive to ensure that it contains the latest, or extremely recent personal computer including relevant software so as to ensure that the company is continuously at the forefront in our market arena.
The one certainty in our industry is that technology will continue to evolve and develop, changing what we market as well as how we market it. Our aim will be to be aware of the implications of this new technology and utilizing it in our existing framework where possible.
However it should be noted that as we are new on the market it will take some time before we have in place our own website and other multimedia presentations. With time we also intend to have the latest and most efficient software in place to enable smooth operations.
In putting the company together we have attempted to offer enough services to allow us to always be in demand by our customers and clients. Our understanding of the needs of our target market segments shall be one of our competitive advantages. It is critical to our effort to develop the right new services.
In the future, Sephats Tours intends to broaden its coverage by expanding into additional markets. One of the main services it aims at providing is to become a destination management company that brings alive the magnificence of this country to the traveler. However in doing so we will strive to ensure that it is compatible with the existing products and company personnel. As time progresses the intention will to provide a Southern Africa tour package covering the whole of southern Africa.
We are today experiencing a rapid growth in the economy of unsurpassed nature. This has been brought about by, amongst other things, the relaxation of foreign exchange policies and macroeconomic policies geared towards attracting foreign investors into the country.
The current drive and emphasis by the government on diversification of the industrial base away from the minerals sector presents an opportunity for Sephats Tours to make a valuable contribution towards achieving this goal. Having undertaken a thorough and comprehensive research of the market we realized that there was a need for a tourist transport company that focuses on providing leisure excursions to tourists.
Though there are mobile operators currently on the market, some of whom have been in existence for a relatively long period of time, we believe that there is a market need for one that specializes on providing comfortable and enjoyable transport to tourists and visitors.
Aware of the fact that operating in such a market is largely dependent on good networking, we intend to establish networks and strategic relationships with various hotels, lodges and travel agents to ensure a steady stream of clients.