Downturns inside the economy can’t stop it. Climate conditions can’t shut it down-a minimum of, not for long. Even catastrophic events of 9/11 couldn’t derail it. It, obviously, will be the how to start a travel agency, and although the economy and unforeseen incidents that tragic day in September have tended to reduce the pace of travel, the market will continue to enjoy robust activity despite challenges which can be enough to transmit other industries into tailspins. No doubt that’s because people will always want or need to go places, whether it’s into a business meeting or conference, to spend the holidays with Grandma in another state, or maybe to savor some much deserved R&R.
This overall need to travel that’s shared by average citizens and corporate denizens alike ensures that this is an excellent time and energy to launch a travel services business. The travel sector is huge. Research by the Travel Industry Association of America (TIA) shows that the travel and tourism industry generates $1.3 trillion in economic activity from the United states annually. That’s comparable to $3.4 billion every day, $148 million one hour, $2.4 million a minute and $40,000 another. No surprise the opportunities for aspiring travel services business owners abound.
Today’s travel services experts offer a wide array of valuable and time-saving services to individuals, groups and corporate clients. Besides acting as ticketing agents for your airlines, cruise companies, railroads and also other modes of transportation, they also engineer complex itineraries. They suggest exotic destinations which may entice adventurous customers, then dole out advice regarding how to get passports and visas. They feature timely specifics of important travel advisories. They assist coordinate every detail needed to stage an exclusive event, like conventions or weddings in tropical locations. Plus they know specifically who to contact to arrange a lei greeting with an airport or to have the body of the client’s cherished one shipped home.
Here’s a quick consider the five different types of travel service businesses covered in the following paragraphs, and then in Travel Services start-up guide:
1. Homebased: If you wish to make your overhead low and your profits high, this might be the type of business for you personally. On account of the internet, homebased agents have at their command all alike tools that was once available limited to a conventional brick-and-mortar travel agency. The internet also offers delivered another necessary advantage to homebased travel services: Such companies are no more likely to be brick-and-mortar. After years of getting books online, bidding and selling in online auctions, and paying the bills online, customers today are incredibly comfortable buying all types of services over the internet-and in fact, they look rather askance at companies which do not come with an internet presence since they would like to surf for information day and night.
It’s also important to note that it’s easy to run any of these five kinds of businesses from the comfort of your home, although specialty/niche businesses, corporate businesses and franchise business are definitely the most probably going to be operating out of a brick-and-mortar facility.
2. Independent contractor: If you like operating in a traditional travel agency but love the freedom for being your own boss better still, then working as an unbiased contractor within the travel industry may be the right move for you. Independent contractors make their very own hours (with the needs of the travel agency under consideration, of course), build their very own client list, and so are solely liable for paying their own personal way at tax time. At the same time, they benefit from developing a physical office where they may meet with clients, pick up walk-in business, and drop the name of the established agency after they make cold calls or follow up on leads. That gives you the particular credibility that could be very valuable when you’re in the beginning stages on your own.
However, you don’t need to be present physically in someone’s office to become an unbiased contractor. Some travel specialists, like Bill Jilla, an impartial contractor in Florida, handles travel arrangements and other services for an established company right from enhanced comfort of his office at home, although he also spent some time working for an independent contractor in a brick-and-mortar travel agency.
3. Specialty/niche business: Since leisure travel makes up 80 % of total sales in the travel industry (according to Plunkett Research), there are numerous opportunities for entrepreneurs that want to offer specialty travel services. You may get to the field in more than one way. First, it is possible to offer tours and packages tailored for the interests and needs of particular groups. Second, it is possible to decide to offer very specialized niche services that will appeal to an extremely narrow demographic. For instance, California entrepreneurs Michael Chu and Ying Liu give you a highly specialized set of services to business travelers to China. Third, you may offer luxury travel services. As an example, on entrepreneur we’ve met offers charter airline services to top-level business travelers and the other arranges stays in luxury villas in both the usa and abroad.
4. Corporate travel: Actually a variety of niche travel service, corporate travel has become singled in this book due to the various opportunities it gives you. But beware, it can be hard to interrupt into this specific field. Many businesses have their own personal in-house staff or happen to be dealing 51dexqpky a similar travel agency for eons. However, new companies of all sorts without previous travel agency ties spring up on a regular basis and could be ready to accept the idea of having their particular travel service, although some might be looking for a new company because they aren’t entirely content with the task their existing travel agency is doing. Conversely, you might be able to land a spot being an independent contractor or homebased agent on work from home travel agent team that already has an established clientele. Either way, there is money being made for the best entrepreneur.
5. Franchise: If you appreciate the concept of launching a “plug and play” business that is able to go right out of the box, a travel services franchise may be your ticket to success. With a franchise, you get the rights to employ a well tested concept, as well as the name recognition and business procedures that come along with it. However, you do have to comply with the franchisor’s established ways of operating. Furthermore, the most effective franchisee is a person who is successful inside a previous career, because, obviously, franchises don’t run themselves and a basic familiarity with established business practices is essential.