Starting a Travel Agency

You have always liked to travel, haven't you? Looked at those pictures from all over the world and wondered whether you would one day be visiting them. But the finance held you back. However, your love for travel took no step back. Now, with kids at home and working full-time being a not-so-good option, starting a travel business does seem something you can do. The good news here is, you really can start it. Starting such an travel agency is no longer only for the business class. Follow these simple steps and know how to open a travel agency on your own.

5 Simple Steps to a Successful Travel Agency

Know What You Want to Do
You need to know what exactly you want to start up. By this I mean, whether you only want to refer places to people in their budgets or go a step ahead and also do the ticket bookings et al. Knowing these things are very important as you will later have to advertise it for the same. Sometimes, initial start up capital is required based on these things. So, step one, know what you want to do exactly.

Do Your Homework
Step two. Do your homework. Start with registering your company (after thinking of the name) in accordance to the state laws you live by as this is very important while starting a business. Then proceed to opening bank accounts for your company. You will need two bank accounts. One wherein you'll have only people or clients sending you money in the form of payments and two, where you will deal with all your business and work related transactions. Set up a small place in your home from where you'll function. If you can buy a small place on rent, start searching for one ASAP.

Study the Market
Studying the market is equally important. After all, competition is everything and it just makes things better. Before starting your own agency, look for other travel agencies in and around your neighborhood. See what they have to offer and what they can't. Try to understand how they function and how you can make your own place here. Offer better and more lucrative discounts. Try to recognize the loopholes in their functioning.

Publish it
Now that you know what to do and how you are going to do it, advertise your company/agency in the local newspapers and magazines. This advertising will be the actual start of your travel agency. You will now start getting customers and handling them with proper attention and care is something you will have to manage. Customer retention is of absolute importance here. Publish a small write up on your agency giving detailed information about it and what you'll have to offer (which others don't).

Look for Agents
Now that this is done too, look for travel agents who can offer you commission. These agents will be the mediators. A simple example of this is, if you book your client at a particular hotel or refer them to that hotel, you get a commission (based on a fixed percentage) for giving them business. Similarly, you can also tell an agent you will do all the work for you. He will get the complete commission from that particular hotel and he will give a part of that to you. This reduces your work but increases your income.

Now that you know how to start a travel agency, you can get into action. Start planning now. Make a checklist of the things you will need. Check the things you already have and think how you are going to get the rest. As we have seen, starting a travel agency isn't difficult at all. All it needs is some patience and determination. Hope you get into business soon. Best of Luck!