Downturns inside the economy can’t stop it. Climatic conditions can’t shut it down-no less than, not for long. Even the catastrophic events of 9/11 couldn’t derail it. It, naturally, is the start a travel agency, and while the economy and unforeseen incidents that tragic day in September have tended to reduce the pace of travel, the business continues to enjoy robust activity despite challenges that are enough to transmit other industries into tailspins. Undoubtedly that’s because people will always want or will need to go places, whether it’s into a business meeting or conference, to pay the holidays with Grandma in another state, or perhaps to enjoy some much deserved R&R.
This overall should travel that’s shared by average citizens and corporate denizens alike signifies that this is an excellent time for you to launch a travel services business. The travel industry is huge. Research with the Travel Industry Association of America (TIA) shows that the travel and tourism industry generates $1.3 trillion in economic activity in the United states annually. That’s similar to $3.4 billion per day, $148 million 1 hour, $2.4 million one 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 the people, groups and corporate clients. Besides acting as ticketing agents to the airlines, cruise companies, railroads and also other modes of transportation, in addition they engineer complex itineraries. They suggest exotic destinations that could attract adventurous customers, then dole out advice concerning how to get passports and visas. They feature timely information about important travel advisories. They assist coordinate all the details necessary to stage a unique event, like conventions or weddings in tropical locations. And they also know precisely who to get hold of to arrange a lei greeting with an airport or to get the body of the client’s dearly loved one shipped home.
Here’s a concise look at the five several types of travel service businesses covered in this article, and also in Travel Services start-up guide:
1. Homebased: In order to keep the overhead low as well as your profits high, this may be the type of business for you personally. Because of the internet, homebased agents have at their command the same tools that was once available only at a conventional brick-and-mortar travel agency. The net even offers delivered another important benefit to homebased travel services: Such businesses are no longer likely to be brick-and-mortar. After many years of getting books online, bidding and selling in online auctions, and paying bills online, customers today are extremely comfortable buying all types of services online-and actually, they appear rather askance at companies that do not offer an internet presence since they want to surf for information night and day.
It’s also worth noting that it’s easy to run any of these five types of businesses from your 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 love operating in a conventional travel agency but love the freedom to be your personal boss even better, then employed as an unbiased contractor from the travel industry could possibly be the right move for you personally. Independent contractors make their own hours (with the requirements the travel agency at heart, needless to say), build their particular client list, and therefore are solely responsible for paying their particular way at tax time. Simultaneously, they reap the benefits of using a physical office where they can talk to clients, get walk-in operation, and drop the name of an established agency after they make cold calls or follow up on leads. Which gives you the particular credibility that can be very valuable when you’re in the beginning stages on your own.
However you don’t must be present physically in someone’s office to be an unbiased contractor. Some travel companies, like Bill Jilla, an independent contractor in Florida, handles travel arrangements and other services on an established company from enhanced comfort of his office at home, although he also works as an independent contractor in a brick-and-mortar travel agency.
3. Specialty/niche business: Since leisure travel makes up 80 percent of total sales within the travel industry (as outlined by Plunkett Research), there are many opportunities for entrepreneurs who would like to offer specialty travel services. You will get in the field in a couple of way. First, it is possible to offer tours and packages tailored on the interests and needs of particular groups. Second, you are able to elect to offer very specialized niche services which will interest an incredibly narrow demographic. For example, California entrepreneurs Michael Chu and Ying Liu provide a highly specialized set of services to business travelers to China. Third, it is possible to offer luxury travel services. As an example, on entrepreneur we’ve met offers charter airline services to top-level business travelers and another arranges stays in luxury villas within both america and abroad.
4. Corporate travel: Actually a form of niche travel service, corporate travel has become singled out in this book as a result of various opportunities it offers. But beware, it can be difficult to interrupt into this specific field. Many businesses have their particular in-house staff or have been dealing 51dexqpky the same travel agency for eons. However, new companies of all types with no previous travel agency ties spring up on a regular basis and could be available to the notion of having their own personal travel service, and some could be seeking a new company since they aren’t entirely content with the position their existing travel agency is performing. Conversely, you could possibly land a spot for an independent contractor or homebased agent on travel work from home team that already has an established clientele. In any event, there exists money to be made for the right entrepreneur.
5. Franchise: If you appreciate the concept of launching a “plug and play” business that is able to go right out of your box, then a travel services franchise might be your ticket to success. Using a franchise, you buy the rights to utilize a tried and true concept, and also the name recognition and business procedures that come with it. However, you have to comply with the franchisor’s established types of conducting business. Furthermore, the most effective franchisee is an individual who continues to be successful within a previous career, because, of course, franchises don’t run themselves as well as a basic knowledge of established business practices is necessary.