Tired of the monotony of the 9-5 and looking for a business that will work around your life and family? Want to meet new people, explore new areas, and feel a sense of satisfaction at the end of every working day? Is it time you took control of your life and took your entrepreneurialism to the next level?
Then look no further because we’ve found the perfect business for you—a travel agency!
Finding the Best Entrepreneur Ideas for You
For a while now, you’ve been searching for online business ideas that won’t just take your career to the next level but will help you create that perfect balance between work and life.
You know you love traveling but you also want to spend more time with the kids, have more flexibility, and enjoy phenomenal vacations with your family—BUT you also want to make a decent living.
Introducing: travel agencies.
The owner of a travel agency can work from anywhere in the world to provide their clients with tailor-made vacations that meet their exacting standards.
Travel agents are able to fulfill their passion for exploration by traveling all over the world whenever they want to, satisfy their entrepreneurial spirit, and be their own boss without too many time or financial commitments.
Plus, the travel industry is continually expanding–which provides unprecedented opportunities for travel agents who want to feel the world at their feet.
Does this sound like you?
If it does, here are 8 reasons why starting a travel agency is one of the best entrepreneur ideas you’ll ever have, including how you can make the most of it.
8 Reasons Why a Travel Agency is the Best Business to Start
1. You Don’t Need an Office
All you need to get started is a computer (even a tablet might be enough to start with), an Internet connection (which you could even get from a local café), a phone, and an email address.
You don’t need a dedicated office—your kitchen table (or sofa) will do, so long as the kids aren’t screaming in the background when clients ring.
And the best bit?
You can carry on working from your laptop wherever in the world you go because you’re constantly connected to the online world regardless of whether you’re in Florida, Venice, Nepal, or Timbuktu.
Therefore, you can constantly bring in money, even when you’re on vacation—which you will be, quite a lot of the time!
2. You’ll Be Working in a Prosperous Industry
Despite the instability that’s rocked many industries over the last ten years or so—people still want to go on vacation and always will.
So if there is one industry that’s continuing to prosper, it’s the travel industry. According to research conducted by the Travel Industry Association of America (TIA), each year, $1.3 trillion is generated in economic activity in the US alone. That’s equivalent to $40,000 per second.
But what about the rise in online travel agents (OTAs) and booking sites?
Well, let’s face it. OTAs are never going to be able to compete with the personalized, in-depth knowledge, and the one-to-one service you can provide your clients with.
This means you’re heading into an industry that boasts longevity, giving you plenty of job security. Even though brick-and-mortar stores are diminishing, through your independence you are free of the daily financial obligations many businesses incur, making more room for profit in your bottom line.
3. You’ll Enjoy Great Financial Rewards
By taking your slice of the aforementioned revenue, you could be bringing home a healthy wage, whether you want this to be enough to take the family on luxury vacations or you want to start putting a good sum into your retirement fund.
You can choose how much work you take on, and thus how much financial reward you get from your business.
For example, if your commission is 10% (this amount varies) and you booked a trip for 2 to the Caribbean which costs $3,000, depending on the commission split with your chosen host agency, you can take home anywhere between 50% - 100%. This won’t take you long and might be all you need each week, or you could aim for a sale a day—the choice is yours!
4. You Get to Travel More
If traveling is in your blood, this has to be one of the most important aspects of the business you’re about to start.
Travel agents get to see the world (if they want to), often enjoying perks, or upgrades as they research properties and destinations. These are often referred to as “FAM trips,” where agents are able to travel with other travel professionals at a reduced rate provided by travel operators or suppliers who want to showcase their latest must-visit destination or hotel.
This means that, while there will be quite a lot of desk work, you’re not tied to your desk day in, day out and will always have a new trip to look forward to.
And by being able to visit the places that you’re going to try and advertise to your clients, it gives you that personalized experience that’s second to none. People love a referral, and knowing you’ve been there and enjoyed it will make your recommendation that much more valuable.
5. You’ll Feel a Sense of Satisfaction
Even though you are essentially selling people something, it's not like you're recommending something they a) don’t need or b) don’t want. You're recommending something they'll love, enjoy, and memories they will treasure forever based on your actual experience—and what can be more rewarding than that?
After all, there’s nothing quite like that feeling when a client returns from their vacation to tell you just how amazing their trip was and how thankful they are that you (and you alone!) made it happen.
What’s even better is how you’ll start to get to know your regular clients—their annual vacation time, birthdays, key anniversaries, and all-important bucket list. You can make memories and experiences for them that will last a lifetime.
6. You Can Fit It into Your Life
By setting up your own business at home, you’re given immediate flexibility with your life. Being your own boss requires discipline. It's best to set up a schedule to not only respond to and book your clients but also all the follow-up information specific to their trip requests. Plus a schedule specifically to continuing your growth as a travel agent with supplier and destination training programs. The exciting part here is that a disciplined individual can work from anywhere at any time.
Then you might want to try building up your travel agency business in your own time, while you’re employed.
This is perfect if you need some stability for your family while your business is getting off the ground. Simply set up your business and work this around your other commitments. With some hard work and determination, it won’t be long until you’re handing in your notice at work.
On the other hand, if you’re not employed, this gives you the ideal opportunity to dive into your new venture 100%—accelerating both your learning curve and business building at a fantastic rate.
Ultimately, thanks to the online world, promoting your business can be done whenever you have a spare minute—people will always be online.
7. You Can Get the Perks of Working for a Big Company
Worried about going it alone?
You might be ready to become an entrepreneur but aren’t confident about committing too much to your business (especially financially), but that’s where host agencies can help.
With all of the resources, training, and help you need to get your business up and running, you can reap the benefits of working for a big company while still being your own boss. They’ll help you with making a website, generating leads, marketing your business, reaching out to clients, and much more—taking a lot of the stress (and worry) out of starting up a business.
This allows you to run your business through the agency (using their registration numbers and vendors) while still working from home and having full control of the reins of your business.
8. You Don’t Need a Formal Education
As we’ve already suggested, no one can teach you how to be an entrepreneur. Yes, you can take lessons in business management and you can learn the ins and outs of what it takes to get a business off the ground.
But can someone teach you how to be passionate about travel and how to pass on this enthusiasm for certain places to other people? No, not unless you’re an extremely good actor.
If you’re passionate about travel, it’ll ooze out of your every pore, and your clients will notice this.
Furthermore, there is also a whole host of training courses out there that can help get you started (like the ones available with host agencies).
Training isn’t a requirement for an independent travel agent, but extensive travel experience and a passion for globetrotting will set you in very good stead.
So there you have it, our 8 unbeatable reasons why setting up your own travel agency is one of the best entrepreneur ideas you’ll ever have.