TRAVEL AGENCY BUSINESS PLAN SAMPLE TEMPLATE PDF
Are you planning to start an online travel agency from home? Today, traveling has been much easier than it used to be a decade ago. There are many travel agencies these days taking care of everything that has to do with traveling.
Starting a travel agency at this present time won’t be a bad idea.
Travel agency provides a lot of services to clients starting from booking of flight, to find a good taxi, to booking hotels and resort reservation, to providing information about specific destinations.
If you have always had a love for traveling and providing traveling advice, you should start a travel agency so as to compliment your passion. Though relatively competitive, it is a very lucrative business and doesn’t require too much capital to start.
It is also an industry that is not affected by the economy because people must travel and some are too busy for the running around and so will need traveling agencies to do the running for them.
Here is a business plan for starting an online or home based travel business.
1. Conduct a Market Research and Find Your Niche
The travel agency is a vast industry with many niches. You have to conduct a market research to find out the kind of travel agency that is hot in the market and would suit you. Use the needs of the market to decide on the niche you should launch your travel agency in.
For example, corporate or academic travel may be what might be in high demand from a travel agency in your locality, but you won’t know until you conduct a market research.
During the research, also inquire about the startup cost for the niche that you might choose. Travel agency expenses are not more than office rent, office equipment like computer and phone lines, furniture and electricity.
So, don’t skip this step as if you do, you will find yourself to blame.
2. Check Local and State Laws
After you must have decided on the niche of travel agency you want to embark on, you need to make sure you are complying with the applicable laws concerning starting a travel agency.
Depending on your location, some paperwork will be needed to become established as a recognized business in your state. You will need to register your travel agency with the appropriate agents of government and apply for a Tax ID number.
Also, have it in mind that you will be needing a corporate account to operate this business.
3. Create a Travel Agency Business Plan
Not only does a business plan help you run your agency effectively, it also helps you secure funding from investors in the case you might need additional capital. If you will need financial backing from investors for your travel agency, your business plan must be professionally written to include a great deal of information.
Don’t rush into creating your business plan. Try to gather enough information before coming to conclusion. Notwithstanding, if creating a business plan is something you are not sure of yourself that you can do, kindly outsource it to a professional business consultant.
Also, you may likely find samples of a travel agency business plan if you search online. There is also business plan software that can ease the process for you too.
4. Get a Location
I know you must have heard about home-based travel agency. Yes, they exist. But, check out the top travel agencies, are their offices located at home? if you want to join the top players in your market, you will need to get a location for your travel agency.
Contact real estate agent to find a good retail space for your business. Space should be large enough to accommodate clients while also housing furniture, marketing materials, and office equipment. There should also be enough car parking space too.
Location most suited for this kind of business is where the business is needed which include places like flight booking channels, hotels and airports. Your location should also reflect your brand image.
5. Market Your Travel Agency
You don’t just start a travel agency and sit down waiting for clients, you must market aggressively to your target clients. Making your business visible to the local people in your city is also a way to position your business for success.
You will need to have a promotional plan in place and be ready to spend money on the business card, logo design and also online marketing. Advertise your business in newspapers, billboard, hangout fliers etc.
Social media is still another channel you can use to market your business. you will have to create an account on social media platforms specifically Facebook, Instagram, LinkedIn, and Twitter. These are social sites your potential customers are always visiting. You should take your business to them.
Creating a website is also a must. This is where you will be directing your traffic from social media to so as to engage them with your content. A well- designed website conveys professionalism to potential clients and it is the best way to convert interested customers.
How to Start a Tourism Company
Do you have the mindset to start a tourism business but don’t have the confident to kick-start because you are not clear about some aspect of the business? Tourism business is a very profitable business if you are well-informed about the business and how you can make money with it.
SEE: DUBAI TRAVEL GUIDE
Why Do People Travel
People travel from one town to another, one city to another, one country to another and one continent to another for different purposes. They include;
- Conferences: This can be academic, religious, economic and so on.
- Leisure: People travel for relaxation, to ward off stress, to initiate and complete a healing process.
- Health: People travel to get better medical assessment and assistance.
- Sports: People travel from place to place for sports.
Above are some of the reasons why people travel and hence promote tourism.
The tourism business is a broad business in the sense that there are many aspects of it. A person that want to start a tourism business will have to study the different aspects of the tourism business.
Tourism services are provided for tourists. A tourist can be said to be a stranger to the visiting environment and so will need assistance in performing almost all his/her activities in the said environment.
It is in providing these required assistance to a tourist that one can really start a tourism business and make money. A tourist will need assistance with:
The hospitality aspect of the tourism business comes in handy here. A place to live for the time being is very fundamental to a tourist and so accommodation is a key need of tourists and this is why you need to start a tourism business.
Of course human beings need food to function maximally. Food business is a thriving sector of the tourism business. The local cuisine of the environment can be well prepared and made available to tourists. Even the native cuisine of the tourists can be made available to make them feel at home.
Another reason why you should start a tourism business is because being a stranger in the environment, a tourist will need a reliable means of transportation to take him or her around to desired destinations. Flight tickets can also be booked for them.
- Language Translator
Sometimes, tourists go to countries with languages that he or she is not familiar with and therefore need a translator who understands both his or her language and the language of the environment. This is one way to make money from tourism business.
Most tourist, especially the ones traveling solely for leisure will need a person who is familiar with the terrain and sites of importance or places of tourist attraction as a guide to lead him/her around.
- Sales of Cultural Items/Goods
Most tourists want to take home some goods or items that are indigenous to the countries they visited. This is also a means of income to the tourism business. Local items and materials like clothing, footwear, jewelry, stationary and so on can be beautifully made and sold to the tourists at attractive prices.
Every country is known to have their own cultural heritage and identity. This aspects of culture can be explored to be a source of income for the tourism business. The local dance of the people, local plays and so on can be performed to entertain the tourists.
Having mentioned the different ways of how to make money in the tourism business, it is now left for a person that wants to start a tourism business to decide on the aspect of the tourism business that he/she intends to focus on.
Location is very important factor to consider in starting a tourism business. Most tourists want to see exciting sights and sounds. To start a tourism business, one has to be in a location that is easily accessible to tourists.
The environment where a tourism is located has to be such that visit regularly and one that geographically has a lot of tourist attractions. Environments with caves, rocks, stream, waterfalls, museums and so on are suitable environments to start up tourism business.
Tourism Business Plan
A business plan is a very important tool that will help a person intending to start a tourism business. A business plan is a document, more like a roadmap on how to start any business. Aspects of the business that will be captured in the business plan include:
- The company profile
- The service/products to be offered
- The financial plan
- The marketing plan
- The unique selling point of the business
- The selling strategy and so on.
There are complete courses available for free on writing a business plan and an individual interested in starting a tourism business should study such courses as it will come in handy in providing a guideline for the success of the business.
There are authorities that control business startups and growth in the different sectors of the economy. These authorities issue licenses to business operators which enable them to run their businesses under the provisions of the law.
In starting a tourism business, the appropriate authorities should be contacted and the conditions that need to be met for a license to be issued to operated a tourism business should be taken into cognizance and met in order to obtain a license to start a tourism business.
The world tourism organization forecasts that international tourism will continue growing at the average annual rate of 4%. Did you hear that? 4%! What are you waiting for? Arise and take the steps above on how to start a tourism business and start rolling in the “bucks”!