How to Open a Travel Agency Business

Although many of us are inclined to make our own travel plans, travel agents still have a vital role in helping to plan travel. Many times travel agencies can offer packages that we couldn't put together on our own and have contacts in the travel industry that can lead to better, more affordable or more interesting travel. Opening a travel agency requires a dedication to finding the right niche and learning to market your agency well.

Instructions

1

Scope out the competition. There is a good deal of it in the travel industry. Find local agencies by checking with the local chamber of commerce and doing web searches. Get a feel for how many agencies you are competing with locally and make note of their specialized area of service.

2

Figure out what your niche area will be. If you have a family, you might prefer the idea of a family travel agency. If you are an adventure sports enthusiast, you might decide that adventure travel is the ideal niche for you. Make sure that you pick a niche about which you know something or can learn quickly. It's essential that you understand the needs of customers in that niche area and that you feel confident you can provide services tailored to those needs.

3

Decide on a business model. Many travel agency owners own a franchise and get help and support through the franchise. But you can also open a travel agency completely independent of a franchise or other overseer agency. You will likely invest more if you buy a franchise, but the investment brings you a host of benefits and could include a built-in client base as well. Opening an independent agency will likely cost a bit less and you'll have complete control over your agency.

4

Get funding. If you need to get a business loan, begin preparing documents to qualify for the loan. This could include a business plan, among other things. If you plan to fund your new business yourself, make a detailed plan of the purchases you need to make and determine how you will pay for them. New business owners commonly pay for start-up expenses with credit cards, loans and savings.

Many agency owners begin working out of their home before opening a storefront, but factor in your office expenses, too. If you decide to rent an office, include the rent and other expenses in your funding plan.

5

Market. Good marketing is an essential component to a successful travel agency. You should know how to market to friends, relatives and perfect strangers. You can market through direct mail, cold calling, business cards, brochures, your website, social marketing or a combination of all of these. If you are seeking clients only locally, focus your marketing efforts there, but if you are looking to acquire clients on a more global scale, you can utilize a variety of Internet marketing efforts to bring attention to your service.