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This article is part of our Travel Business Startup Guide —a curated list of articles to help you plan, start, and grow your travel business! Becoming a travel agent can be fairly inexpensive, as business ventures go, and you can often get away with limited staff and little upfront cost.
That being said, success largely depends on finding the right niche in a fiercely competitive market, given the rise in online direct to consumer travel booking sites. If this sounds right up your alley, keep reading. Write a Lean Business Plan instead. You can do it in less than an hour. What kind of travel agent are you interested in becoming?
Starting the planning process early helped Scott hone in on his vision for his business. Scott was able to get a clear sense of where he wanted to take it, and how to tailor his business to best suit the market needs. Are you Travel partner for Addison wanted to eventually run a large travel agency, and interested in seeking a loan, or maybe investment from angel investors?
Are you more interested in becoming a travel agent using your own savings, without seeking outside investment or loans? A more lightweight Lean Business Plan might be a perfect fit for your business. Even if you do intend to pitch your business idea to lenders and investors, you can start with a Lean Plan, and flesh out the rest of the info later on.
Or, you can turn to LivePlanwhich will help you simplify the planning process and give you options. Whatever your specific reason for writing a business plan for your travel business, the most important thing is that you write one, period. The travel industry is fragmentedand having a clearly defined niche and a plan will help you stand out. Writing a business plan will help you narrow in on what your goals are, and establish a clear, focused vision going forward. We also have several travel industry business sample plans, which will give you an idea of what your business plan should look like.
What kind of travel agency do you plan on starting?
Moreover, what kind of travel business does the industry or your local community actually need? This means doing some market research to find out what kind of travel agent or travel business the market really needs. Is there a niche you can fill? Think about the people in your local community too—do they need something specific?
What niche are you filling? Start by researching the travel market in general.
As the travel industry is so competitive, having a well-developed brand will help your business stand out. How do you want your customers to feel when they visit your website, view your advertising, or use your services?
Why should customers use your services, rather than just book a trip themselves? Is your selling point the ease of having someone else plan your trip for you, down to the last detail? Are you all about personal touches and a great customer service experience? A travel business is, for the most part, a Travel partner for Addison wanted simple one to set up. For the U. Canada also has licensing requirements that vary by locationand in the U.
First off, choose your business structure. Why was an LLC the best choice? However, the business structure Travel partner for Addison wanted choose will depend largely on your plans for your business, and how you intend to fund it.
If for example, you plan to seek outside investment, you may want to look into starting your business as a corporation. Scott also adds that setting up the legal end of things was fairly simple. However, be sure to have a plan in place for how you will obtain funding. Your initial funding budget will also likely go toward any branding or advertising, and you may eventually also decide to rent office space and hire employees, which is a fairly large expense.
Many travel agencies are self-funded, since they have low initial overhead and can be started fairly easily though face stiff competition to stand out. Looking into loans and a line of credit is also a good first move. Don Halbert, owner of Costa Rica Vacationsalso funded his travel agency through venture capital. How many employees will you need to hire? You may not need any to start, until you decide to expand your operations. We constructed and positioned our business to be virtual in nature; to be operational anywhere, anytime.
For Don, the idea that you must spend money to make money drove the marketing strategy behind Costa Rica Vacations. Plenty of your focus should go into social media marketing and guerrilla marketing tactics. Flash forward eight years, and we now have a team of 35 full-time staff operating in 18 countries. Your marketing strategy will, as with all aspects of starting a travel business, be largely dependent on your specific niche, the demographic you are after, your budget, and your bandwidth as a business.
That being said, combining both paid advertising with other guerrilla tactics both online and offline will likely serve you well. Average rating 4. Vote count: No votes so far! Be the first to Travel partner for Addison wanted this post. Briana is a content and digital marketing specialist, editor, and writer. She enjoys discussing business, marketing, and social media, and is a big fan of the Oxford comma. Bri is a resident of Portland, Oregon, and she can be found, infrequently, on Twitter.
Starting Your Own Business in ? Read Starting By: Briana Morgaine. What kind of plan will you need? Build Your Brand. This varies from local cooks to tour guides to drivers. The little touches along the way, from booking flights for guests to getting the transport back to the airport, all adds up as every little bit helps to create the perfect experience for my guests.
I work with people in South America who are now my friends. Startup Costs for a Home Travel Agency : Delves into the process of becoming a travel agent through a host agency. Was this article helpful? Briana Morgaine. Starting or Growing a Business? Check out these Offerings. Liked this article? Try these:.
Back To Top. Plan, fund, and grow your business. Plan, fund, and grow your business Easily write a business plan, secure funding, and gain insights. Start your plan.Travel partner for Addison wanted
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