Travel agencies are one of the fast-growing businesses in Nigeria as people will rather go through a travel agency than booking their flights themselves.
The hassle of searching for flights, accommodation, and services is made easy by using a travel agency. With purchasing tickets, flights, and accommodation covered, booking with an agency is the best idea.
Another reason why people will start a travel agency is that the startup cost is quite low for other types of business.
1. Find your niche
Just as all businesses require, there must be a particular part of the business you want to run. What is your niche when you want to start a travel agency? What places do you want to travel to? What tours? Are they corporate travel? Group travel? Solo travel? Business travel or what?
A niche will help you stay focused on what you want to do so that even when you feel lost, you know you are in what started on.
You don’t come off as confused. You also become an authority in that aspect as people will come to you when it comes to that particular niche. Just like writing, when starting a travel agency, have a niche.
Coming to a concluding niche is not easy, that is why it is necessary to do deep research before picking a niche. Check the emerging niche. Where are people going the most? How many are they? Are they more of married couples? So they all know each other? Etc.
2. Know your audience
The last thing you can do to yourself after starting a travel agency is to not pick your audience or use the wrong channel. Immediately you have picked that you want to focus on a honeymoon, the next thing to do is to make your ads towards young couples, newly wedded and just engaged people.
If it’s just during summer, the best thing to do is to check out people who love traveling during summer and focus your attention on them. You can’t pick a honeymoon and focus on students. That is like facing the otherwise of where you should be.
One way to also do this is to create an online demographic research and see people that will be excited about your niche. Ads can help get such analyses. Travel statistics showing where your people are more focused should also be researched so you won’t pick the wrong niche.
3. Create a Business Plan
Regardless of the business you have, a business plan is always important. It gives direction to the business. When a business deviates from the original plan and start going south, the business plan can be used to restructure the business back to its original focus.
Do you want to become an independent contractor for a host agency? Do you want a large travel agency later in the future or you just want to run for a specific set of people? All these are questions that should be answered in your business plan.
Do you want to become a public company or a private company? Do you want to incorporate it or not? How do you plan to fund your business? Paying for insurance and tax should also be put into consideration. Are you taking a loan or are you open to shares or it will all be your personal cash?
All these are necessary questions to ask and answer when developing a business plan for your travel agency.
4. Choose a Name
A name is an identity. It is a brand. When people hear Tesla, they know it is a car. When they hear Toyota, they know the brand.
It is important to pick names that can be easily remembered and will stick for a long time. You must also incorporate the name so that another person doesn’t use it. Your name must not be too similar to another brand’s name so it won’t be confused. The last thing you want is for people to confuse you for another.
It is not enough to choose a name, you must build a brand around the name. When they hear Tesla, people think of electric cars. Why? Because it is distinct from other cars, it does things others don’t.
One way to get your name to stick is to be different. No matter how small, be peculiar, that’s the best way t get your name to stick.
5. Take Necessary Legal Steps
- Necessary legal steps are registering your business under the necessary laws in your country.
- Trademarking your business name so as to avoid copyright infringement.
- Get required license for smooth running of a travel agency
- Trademark your logo
- Pay necessary tax as issues by the government
All these and more should be done to avoid any legal consequences. It is also best to research the necessary laws regarding the starting of a business such as travel agency business in your country and follow the guidelines.
6. Set Business Goals
Even as a beginner, it is not odd to have a business goal. Set goals for yourself, where you want to be in the next 5 years. Who you want to partner with. How many clients do you want to have in a year?
How many employees do you envisage having in a year or two? How many countries do you want to be getting to? These goals help you buckle up and put more effort. A goalless business will just work for working sake. They rarely move forward or grow. They are comfortable where they are.
It is also important that a travel website is created for a larger audience and greater visibility. It allows easy access. Hire efficient employees who are willing to grow the firm. Employees who know the goal and value of the business will help the travel agency attain the necessary goals it wants to attain as fast as possible.
Trying to open a travel agency is not a hard work as long as a structure and plan on how the business will go is written out.
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