Are you interested in starting a travel agency business from home? Do you need a sample travel agency business plan template or feasibility study? Then i advice you read on.
There are a lot of people who love to travel and who love making money out of their passion. For this reason, they study ways on how to start a travel agency business from home; ranging from the requirements to the basics of the business. If you are that kind of person, then you should consider the following tips to help you start your own travel agency business online from home.
The travel industry is a big industry within the tourism industry. Everyday, people are traveling from one part of the world to the other. And we all know that where there is demand, money is bound to flow and wherever money flows; entrepreneurs are there to tap into such opportunities. So if you are interested in tapping into travel industry as a travel agent, then below is a guide on how to start a travel agency from home.
But before I go into the details of starting a travel agency business online, I want to emphatically state that the information provided in this article does not in any way replace the need for you to conduct a feasibility study, write a travel agency business plan and do your own due diligence.
Secondly, the information shared in this article is applicable to any locality; be it USA, Canada, UK, Nigeria, Ghana, etc. Without wasting your time, below are creative ways on how to start your own travel agency business from home with little or no money.
How to Start a Travel Agency Business Online from Home
Before you move on to the business basics, you should first know what things are required in order for you to successfully start a travel business agency.
Where you decide to set up your travel agency business office will greatly have an effect on how much capital you would need to start. This is an important element to consider when learning how to start a travel agency business. Home-based travel agency businesses usually get by their first days with only a computer and a phone. If you prefer having an office, then you should be aware of the additional costs such as the electricity, furniture, and rent.
2. Know your Responsibilities
One of the most essential requirements in learning how to start a travel agency business is to know the extent of a travel business owner’s responsibilities. Though the usual knowledge lies in booking of cruises, airline tickets, and hotel rooms, there are also additional services which can be rendered to clients.
These include help with obtaining of passports and visas; arrangement of airport-to-hotel transportation; conducting research on different retreats for companies and groups, conferences, or business meetings; and even the participation in event planning for events like birthday parties or weddings.
3. Have Adequate Client Knowledge
In learning how to start a travel agency business, you should know that there are two main markets you should target. The first market includes consumers and customers that travel. The second market is the business or corporate category.
4. Check your state and local government guidelines to start a travel agency
Based on where you reside, you may have to file the necessary paperwork so as to be able to legally carryout your business. You will also need to file the appropriate paperwork to become legally incorporated in your state and L.G.A.
4. Financial Potentials
As a travel agent, you are handling a job which is based on performance and the amount of people you successfully book for traveling. As long as you know how to handle the business well, you might possibly earn about $100,000 annually.
Writing down your plan will assist in providing you a solid foundation, and will assist you also to secure fund from investors if you require additional capital to begin your business.
6. Open two bank accounts
The first account should be for your business as an independent travel agent, where all your track funds coming in to and as well going out of the business will be kept while the other account should keep hold of all the money that your clients will provide to book their trips.
7. Choose the type of agency you want to run
You can do business by referring clients to larger companies, thereby earning your referral fee or you can still do business by booking and selling all sorts of travel and tour packages.
8. Look for companies you will work with
Contact various travel companies to negotiate package deals you can offer or to determine the kind of referral commissions you can be earning. When you are dealing or are in business with more than one company, you can get more to offer your clients and this can provide you with additional money.
9. Join organizations and societies specifically for travel agents
These organizations and societies can maximize your visibility to consumers along with your credibility as an agent. You can join the Nigeria Society of Travel Agents (NSTA), the National Association of Commissioned Travel Agents (NACTA), or the (IATA) International Air Transport Association. If possible, you can join the three to boost your business largely.
10. Network with other travel agencies
Get connected to a travel agency that can serve as your connection between the airlines, accommodations and cruise lines. Once these connections are available, you can acquire additional time to make much connections in the industry.
More Tips for Starting a Travel Agency Business from Home
a. Make sure that you have fair knowledge of the different aspects of travel. This includes cruises, air travel, and popular vacation destinations.
b. Decide whether you want to sign up for a travel business franchise or start independently.
c. Make sure you have an office which would be able to accommodate your business and your clients well.
d. Advertise your business by creating your own website. People should be able to book over the Internet or via phone.
e. Make sure you have already opened a business bank account. This includes credit card and checking account.
f. Aside from your website, you can advertise your business through ads put up in newspapers, magazines, or through other websites online.
g. Beginning a travel agency business can be done with little or no experience. You do not need any special certification or licensing.
h. As an independent travel agency, you can select among several specialties. Make research what you think is the best in your area before choosing your specialty. As a travel agency, you can focus solely on cruises, luxury travel, vacation homes, or standard travel specializing in booking hotels and flights.
i. You should consider taking a few business courses so you can learn more about how to begin and maintain your business more efficiently and effectively. These courses are available nationwide at local community colleges and online. Any fees paid to participate or to be enrolled in the course are tax deductible as a business expense.
As a final note, make sure to consider the points listed above as you learn how to start a travel agency business yourself. This would not only make you know how to run the business but should also serve as a guide to prolong and raise your business to the top.