How to Start a Travel Agencies Business – sample business plan
Life is a journey—It is about taking that bold step of moving forward and starting a new, life-changing traveling experience—not deciding or reaching the final destination. People nowadays have started to appreciate the art of travel and are more open to exploring uncharted maps. Why not a chart a map for them and cash in on them?
Preparing for the business
Opening a travel agency requires no certification. As with any other business, it requires a flair for networking and selling your business (marketing). You can start a home travel agency. The first thing that you require to do is find out the legalities regarding opening a home office and doing the paperwork. Find out your state’s Company’s Act and do the required paperwork in order to avoid legalities.
Know how you want to start
You also need to decide what kind of business you want to do; you can make money by referring people to bigger companies and earning your share of commission from them, or you might want to sell your own deals and packages. You can deal with various travel companies and discuss with them what kind of package you can sell together and earn money on a commission basis.
Design your packages to suit local/international needs
When opening a travel agency, you need to talk to Hotel managers and tie up with them for designing your exclusive travel package. These packages should be able to serve both local and international needs.As the world is going global, many foreign tourists would be taking your services. You will earn more profits if you are able to understand their needs. Also, taking care of their safety and comfort would enable you to gain more brownie points.
Opening a current bank account- Managing finances
The next step would be to open a separate bank account for the business, the one in which clients would transfer money to book their tours/vacation package. Make sure you tally each and every penny flowing into that account. This step would enable you to be prepared for the tax returns and will also enable you to prepare your accounts easily.
Make sure you write a business plan and account into it the cash expenses and flow. Write down your goals and how you plan to achieve it. This would become a guideline for starting your company.
Branding your Business
Create a logo and concentrate in the branding of your company. Advertise it, meet potential clients. Send emails to corporate companies; they always plan getaways every few months. Once your company becomes a brand, everything else will follow. People are brand conscious and will always go for one which gives them the best deal in terms of money as well as name. Being visible and creative can take your business to places. Think of ways to stay ahead of your competition and also figure out ways to bring something new on the table.
Deliver Best Services
Ensure your customers are happy with your service, people will be spending their hard earned money for a relaxing trip. So make their travel a pleasant one, right from the mode of travel, the place they visit, travel guide, food and accommodation if it is a part of the package. Don`t forget to get a testimony and a feedback which will help you in improving your business.
Contact our Business consulting for more about How to Start a Travel Agencies Business