If you love travel and already looking forward to start a travel agency, it’ll surely bring profit with best career opportunities. Besides, you’ll earn and travel around the world hence double the advantage. There’re several ways to start and run a travel agency successfully however you might consider few details as mentioned below so read on.
Start-up capital
You can either run a small travel agency from a secluded portion of your home or simply rent a floor in one of commercial buildings. Area where you’ll initiate the company would decide total start-up capital required. Keeping costs to a minimum, home-based travel agency is best and you don’t even need too much investment except for telephone connection, computer, furniture and electricity. Even if you prefer renting a small nook, it costs thousands of dollars as compared to hundreds for a home-based office. Above all, think of time and cost you’ll save to further grow the company.
Basic tasks
Agency owner’s responsibilities extend beyond airline tickets, cruises and hotel rooms. Their services include visa and passport assistance, transport and accommodation, work out corporate and family travel packages, research for company and group vacations so on. Few even participate in event planning for special occasions like wedding and provide a budget-friendly solution. With time as business grow, these small-time agencies may launch ST Kitts and Nevis citizenship passport programs but only after government’s support.
Win & retain clients
If winning new clients seems hectic, retain existing ones would give you twice the headache. A travel agency usually have two primary markets;
- One is consumers who travel and can be any individual. As agents may deal with dozens of customers in a day, anywhere across the globe; limiting targets to local market isn’t necessary.
- Second and most important is serving business/corporate market. Alliance with large companies may gain you profit as their travel needs are extensive. Meanwhile, you shouldn’t overlook smaller companies for the sake of profit; work closely and diligently with all!
Sovereign contractors
In an attempt to hook-up clients without wasting time and effort, many travel agents form partnership agreement with established agencies right from the start. Once they’ve a good grasp over fundamentals and profitable list of clientele, they annul the contract in a legal manner and initiate their own travel agency.
Revenue/earning potential
A travel agent derives commission from two sources. One’s the service fees charged to clients who make travel reservations. The larger the business, better the commission whereas focusing on much high-end products would boost income potential. Travel agents can earn anywhere between 15 to 20 percent of average cost from services whereas proportion may vary per nature of business operation. Cruise businesses are highly profitable that may get you anywhere around 25 to 30 percent in today’s market.
As it’s a performance-based job, you’ve full control over monetary flow. A general study indicated agents earning can be anywhere between 12,000 dollars to 30,000 per annum. Worth noting fact is of earnings that can surpass the mere five-figure; “Travel Weekly” magazine cited home-based agents generate more than 65,000 dollars a year.
Conclusion
Today, there’re thousands of travel agencies around the world with each providing best-ever services and package deals. All you need is to research and pick the best whereas executing your own would be a cinch after going through above facts.
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