Start your Travel Agency or reevaluate it’s potential for growth
14 Steps To Start Your Travel Agency
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Step 0. Understanding how the Travel Industry Works
Before you start your journey, make sure to understand the big picture of how travel works. The following video could help you out.
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Step 1. Research & Business Plan
Research is the very first step whenever you are starting or re-evaluating your business potential.
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Step 2. Legal & Regulatory Compliance
You must have the needed legal structure to operate smoothly
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Step 3. Choose your GDS Partner
Your GDS will become your day to day workspace, choose wisely!
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Step 4. Setup & Infrastructure
There are certain components in a business that are needed even before starting.
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Step 5. Partnership with Certification Providers
Certifications your Travel Agency can’t afford to not have.
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Step 6. Partnership with Consolidators
A Consolidator is a powerful partner, that can tick for you and help you access special fares.
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Step 7. Partnership with Consortiums
Enjoy the benefits of joining a bigger crew
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Step 8. Partnership with Air Content Providers
The Business relationships you form with airlines are always your responsibility.
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Step 9. Partnership with Other Content Providers
If you find the right mix, you can upsell your air tickets or generate interesting packages.
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Step 10. Partnership with Technology Providers
Now that you have the right content, it’s time to get the right technology behind it.
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Step 11. Financial Management
At the end of the day, you’ll need to make this as profitable as possible.
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Step 12. Marketing & Promotion
It is time to increase your sales pipeline, here is how you do it.
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Step 13. Staffing & Training
Your business idea seems great! Now you will need the right team to take care of it.
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Step 14. Monitoring & Evaluation
If you don’t measure your success, you can not progress further. Here is how to measure and advance properly.
How To Start a Travel Agency
Step-by-Step Guide Index
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1.1 - Start with Market Research:
Be it that you are starting your business or you want to increase your business potential growth, the first thing you'll need to do is to study and reevaluate the travel industry trends, target demographics, and competitors.
It is critical that you measure the size of the business opportunity you are trying to seize and identify correctly the customer segment you are aiming to deliver value to.
Before proceeding ask yourself: Is your segment coherent with your value proposition?1.2 - After the Research, Define your Niche:
Identify your unique selling proposition (USP) and focus area (e.g., senior travel, luxury travel, adventure travel), and create a unique value proposition.
As recommended previously, the “Golden Circle” framework is an amazing tool for these purpuse. State your why-how-what and to whom you are aiming to deliver it.
1.3 - Develop your Business Plan:
Finally, it is time to develop a comprehensive business plan including your value proposition, target market, revenue model, marketing strategy, financial projections, and more.
Ideally, map your business model canvas (using the framework provided before) with your specific business model.
The more detailed you are in your business model, the better chances you got to succeed.
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It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.
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It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.
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It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.
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