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 how to start travel agency business with franchise opportunities available at present.
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.
People having passion in traveling destinations will have an added advantage in being successful in this business.
Steps to follow to Start a Travel Agency Business
Broadly, you can start travel agency business in two ways. If you want to start working for an already reputed travel service provider, consider buying a franchise.
The advantage of working as a franchise is that you don’t need to worry about developing travel products. You just need to market their products and earn incentives for transactions. If interested working as a franchise read our post on Top Travel Franchise Business Opportunities in India.
If you want to start your own branded travel agency business follow the following steps.
Steps to follow to Start a Travel Agency Business in India
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. 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.
3. Contact with Suppliers
Contact with the suppliers of the travel products. Get as much information as possible about their products and services.
4. Set an Office Space
Book a 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.
5. Business Entity
Decide on what kind of business entity you want to form. You can start with sole proprietorship, one percent company, LLP or a private limited company.
6. Make the Business Legally Legitimate
Consult with a lawyer and accountant to learn the requirements to make your travel agency business legally compliant.
7. 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 international market, IATA approval will be a must.
8. 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 considering in starting a travel business from your locality.