Today one of the most successful startup ideas is to start a travel agency. The reason is as the pandemic is almost over and more and more people are vaccinated, they want to get out of their houses and see the world and enjoy vacations again. However, they are unable to organize their trips because of the unavailability of tickets, seats and hotels.
Now before moving further to how to start the most successful startup, let us learn what actually is a travel agency.
What is Travel Agency
Travel Agency is a business under which all kinds of facilities related to trips are provided. It includes train tickets, bus tickets, plane tickets, car rental, Bus rental, Hotel reservations, tourist packages etc.
Some travel agencies also offer facilities such as ambulances in case of emergencies.
Before learning to start a travel agency, you should familiarize yourself with travel basics, such as:
- What is the best place to visit?
- What are the best routes to each destination?
- How much does it cost to reach them?
- Where to get the best beverage and food?
- What is the best season to visit all places?
- How much is the total trip cost?
- What are the things that a person may need?
- Where do you want to open your travel agency?
Now we will understand step by step how to open a travel agency.
Steps to Start a Travel Agency
Step 1: Choose a Good Location
One can start their travel agency from anywhere. So the first thing to decide is that you have been asked to open a business.
You need to remember that where the agency opens up.
There is a good internet connection, thanks to which you can keep track of all phone and online reservations.
If you want, you can also start from home. But if you do it in any market, it improves. For example, Create a PAN card, create an Aadhar card, apply for a passport online, etc. Other than that, You need to have a laptop, printer, etc. After that, you have to register the company name and create a website and mobile application.
Step 2: Investment
Knowing how much money to invest is essential before starting a business.
It is necessary to have a good investment to start a travel agency that will never confront you with financial problems.
Analyse how much money it will take to start a travel agency to add that amount of money.
If you want to start a travel agency from home, you don’t have to spend a lot of amounts.
If you want to run a travel agency from the office, you should have a good internet connection, Computer or Laptop, Drinking water Electricity, invoice Office Rent. Office workers have all of these things.
Step 3: Consider Getting a Franchise
Entrepreneurs wishing to start a travel agency do not have the option to open their agency or from home only. However, if the entrepreneur wants they can start the business by buying the franchise of a famous travel agency, for example, Zostel, pickyourtrail.
In fact, Zostel has been awarded globally as the most successful startup.
In this, the entrepreneur can earn well by performing very few responsibilities because the entrepreneur gets the benefit of his branch in the market made by the travel agency. When a travel agency agrees to franchise an entrepreneur, it also provides training and products.
Step 4: Know Your Obligations:
The entrepreneur needs to have complete knowledge of passport, visa, tickets, plane ticket, train ticket, hotel booking process.
Apart from this, the entrepreneur also must keep himself up to date with the services involved in this business. A person starting a travel agency should understand the process of getting a passport, visa, etc.
By helping clients in getting these things, arranging travel-related activities for clients like the hotel to airport and airport to hotel transportation, conference, business meetings, event planning, birthday party, and wedding, etc.
Step 5: Know Your Target Market
The entrepreneur starting a travel agency should know the target market for his business so that the entrepreneur can develop his business strategies.
However, there are also travel agencies targeting a particular category in the world that are mostly running their business keeping in mind only one category.
For example, some such travel agencies target the students going out for education and help them in travelling, Admission, Student Visa, Living, Job Placement.
Similarly, if any travel agency targets business travel, then some go by targeting Vacation, etc.
Step 6: Prepare a Business Plan for Starting a Travel Agency:
Doing business without a business plan is just like a person walking along the path. But he does not know where he is going.
That is, where is his destination or where is he to reach. Thus, a business plan is the map to set up the most successful startup.
Yes, friends, without setting business goals, it is difficult for an entrepreneur to know where his business has reached in a given period. Therefore, to evaluate his business from time to time, the entrepreneur should prepare an effective business plan for his business.
Step 7: Register Your Travel Agency
An entrepreneur starting a travel agency has many business entities to register his business, so the entrepreneur can choose one and get his business registered under him. Most of the entrepreneurs in India get their travel agency business registered under a Private Limited Company Registration online.
Although the entrepreneur can register his business under Limited Liability Partnership (LLP) and One Person Company (OPC) if he wants, a Limited Liability Partnership Turnover does not exceed 40 lakhs till the time.
Step 8: Open a bank account in the name of the travel agency
Now that the entrepreneur has made his business registration and office, so now the next step is to open the company’s PAN Card and Bank Account. Because, even the most successful startup can fail if you mix your personal assets and company assets. So to keep a clear view of your profits make a separate bank account.
Step 9: Tie up with other companies
Entrepreneurs should talk to other travel companies and know what type of travel packages they are offering, and how much commission the entrepreneur can earn by doing business with them. The more travel companies the entrepreneur has to tie up with, the more earning opportunities will be created, and the easier it will be for the entrepreneur to give options to customers.
Step 10: Advertise and sell your service
An entrepreneur starting a travel agency should take special care of one thing. That only, making an office, and getting agency registration done, is not the main task of doing this business.
An entrepreneur starting a travel agency can do his business marketing through Newspapers, Magazine Search Engines, Marketing leads to purchase, sending proposals, etc.
Pros and Cons of Starting a Travel Agency (Most Successful Startup)
PROS
- You get travel Opportunities.
- When you have your travel agency, there is nobody to order you. Yes, you are your boss.
- Adequate Earning Opportunities
- No special training required
- Various Career Opportunities
CONS
- No job security for a long time.
- Creating and maintaining an online presence is a bit difficult.
- A wide variety of options for clients to accept.
- It can be stressful sometimes.
Also the same process goes for pvt ltd company registration in Mumbai or in other cities.
