Travel agent business has gained immense recognition over the years, because of its importance in the travel industry. If you search the internet, you will discover lots of experience travel agency that will help you plan your trip successfully. Are you curious about creating your travel agency? If yes, then get ready to fulfil some essential requirements needed to run a travel agency successfully. Travel agent business requires finding the right location, backed up with legal permission, advertisements, among other crucial steps.
Travel agency business eliminates travel hassles and makes traveling move convenient for all. They offer different services ranging from affordable travel packages, purchasing tickets at discounts, offering specific advice, etc. The travel industry has developed to the extent of searching the internet for accurate travel-related information; you can now buy tickets directly from the travel company’s websites. This has slowed down the business of offline travel agents, except those who also operate online.
But sales from online platforms have increased tremendously. $180 billion was recorded in the United States as sales from digital travel platforms. More interesting is the expected increase of above 213 billion in 2020. The travel industry is now flooded with experienced online travel agencies. This includes the Priceline group, Expedia, among others that have shown us the stake of online travel agencies in the industry.
Despite this high level of online travel agencies, conventional travel agents still earn their commissions and more growth in sales. This is to show how lucrative the job of a travel agent is.
How do I open a travel agency?
Whether you plan setting up a conventional agency offline or you prefer an online travel agency, there are some basic rules you must adhere to. You will have to fight lots of competition. Also, note travelers prefer to book with experienced and older agencies compelled to startup travel agencies. So, the entire process of being noticed in the market is not an easy one. The tips below will provide you with all the basics on how to open a travel agency.
Find your travel niche
The most important aspect of starting a travel agency business is to find a travel niche that is in high demand. Your success and failure as a travel agent are based on your ability to locate a niche. Don’t fall victim to what most travel agencies are currently facing. Most of them make the mistakes of trying to sell everything and ended up inviting hard competition to themselves. I don’t see it as a wise decision for a startup travel agency, soon you will be forced out of the market if you lack the needed resources to promote yourself.
So, narrow your niche to a sub-niche. Where you can spot out a particular segment of the market that has high demands, then your competitors will be reduced. Finding a travel niche is one approach that is rare to most travel agencies. Trust me; there are so many growth potentials in it.
How to determine the right niche for a travel agency?
What could be regarded as a niche in the travel industry? To find out this answer, you have to conduct extensive research on the internet, learn what the latest demand of the travel industry, look for those needs only a few travel agencies can solve. A good example is newly wedded couples who would instead prefer to spend their honeymoon in a relaxing environment than an adventure destination. Most travel agencies are already making this mistake by providing the wrong packages for couples. You can correct this error and make a niche from it. But extensive research is required.
Create a realistic business plan
To stay on the right track for long, you need a practical and realistic business plan. This is a great way to start your travel agency and run it successfully. The business plan should make provision for every detail of your travel niche, the services you intend to offer, and the plans to execute them. If your business plan is only centered on random goals and a rough idea, it will sink within a short period.
Your business plan should contain specific facts. It should be created from your market research, analysis, and sales strategies. Don’t forget to add your funding requirements and your expected returns. Give your business plan a short but catchy description that will give travelers the right insight into your business goals.
Do some Branding
Similar to other businesses, the travel agency business requires branding. It is the right way to create the correct perception of your company, products, and services. The first step to create the right impression with quality and impressive logo design on your agency website. They should look catchy in your business cards, brochures, and other official materials.
Make sure your logo maintains the same image quality and colour in all your branded materials. This way, your customers can quickly decode the message you are passing across and think positively of your agency.
Another unique requirement for owning a travel agency is to obtain a trademark. Your logo can serve as a trademark, so register it legally from convened authority. This is another excellent way to build trust for your brand.
Acquire enough funds
To start a travel agency business is not as cheap as the most business online. You need to map out a funding strategy. You can begin at home as a small-scale travel agent. Still, money is required to settle different expenses. Some travel agents prefer to work from home, where they can quickly get the support of family members.
On the other hand, if you need to rent an office space in an excellent location, and hire staff, you will need many funds. Remember, there are so many travel agencies around you who are competitors, having enough funds to market and purchase different promotional plans will boost the growth of your business.
Are you a travel agent, or you help friends and family members to plan their trip? Please use the comment session below to share your experience.