Do you want to start a travel agency business in India? Find in this article a step by step guide on how to start a profitable travel agency business with less money.
Travel Agency business if run properly is a very lucrative business venture. It is a less expensive business to start. Here in this post, we will guide you on how to start travel agency business with franchise opportunities available at present. People having passion in traveling destinations will have an added advantage in being successful in this business.
Travel agents provide a wide array of services to customers. They help clients in purchasing airline tickets, booking for hotel and resort reservations, creating and selling tour packages, providing tour guides, etc.
If you want to start your own branded travel agency business follow the following steps.
Steps to follow to Start a Travel Agency Business
1. Find your Niche
Do Market Research Decide the travel products you are going to sell. It can be general products like ticket booking, hotel booking, selling tour packages, adventure tour services, medical tour services, corporate tour services, etc.
2. Services You Can Offer as Travel Agent
As a travel agent, you can offer various kinds of services to travelers. Some popular services are the following:
- Making travel arrangements.
- Creating itineraries as per client’s preference.
- Making hotel accommodation, travel tickets, event tickets at the best price.
- Creating & selling tour packages.
- Arranging travel insurance.
- Providing visa services and advisory service.
3. Decide on the Type of Travel Agency
There are two ways of starting a travel agency business. One is by starting by your own or buying a franchise of a reputed travel company. Both have certain benefits and negatives. Starting your own will need much more effort and an understanding of the travel industry.
If you are a beginner with not much experience, working as a franchise partner might be a better choice. The advantage of working as a franchise partner is that you don’t need to worry about developing travel products. You just need to market their products and earn incentives for transactions.
4. Create a Business Plan
The travel industry is competitive. If you want to be successful in this business, you must be clear at the very beginning what products you are offering, pricing of products, funding resources, manpower cost, revenue generation plan, and marketing plan. It is advised you have a business plan addressing the factors mentioned.
5. Contact with Suppliers
Contact the suppliers of travel products. Get as much information as possible about their products and services.
6. Set an Office Space
Book an easily accessible retail space. Initially, if you don’t have a retail space of your own it is advised to take a lease. If you want to operate from home, make necessary arrangements so that space looks professional.
7. Business Entity
Decide on what kind of business entity you want to form. Decide on a proper business structure and register your business. You can start with a sole proprietorship, one person company, LLP or a private limited company.
8. Make the Business Legally Legitimate
Consult with a lawyer and accountant to learn the requirements to make your travel agency business legally compliant.
9. IATA Authorization
Though not mandatory but if you want to grow your business apply for Government approved travel agency. If you are approved government approved travel agent, it greatly enhances your reputation and recognition. If you want to cater to the international market, IATA approval will be a must.
10. Promote and get Clients
Create marketing collaterals and promote them aggressively to your potential customers. Create a website for your travel agency will surely add customer confidence for your business. Upload information regarding your products and services, contact information and if possible online booking options.
Hope this post will inspire you in starting a travel business from your locality.