Steps for starting the travel agency business in india

Travel agency business India

1. Steps for starting the Travel Agency Business in India NAME ENROLEMENT NUMBER Chitrank Bhargava 160140119007 Bidiwala Khizar Mahedi M. 160140119009 Borda Zeel 160140119010 Chaudhari Vatsal 160140119011 Chauhan Lalu 160140119012 Mechanical Engineering Dept. GEC Bharuch

2. Many people might not find this idea sound, as to how to start a travel agency in India but opening your own travel agency in India has a lots of advantages. This market is hugely unexploited in our country, and opening your own travel agency might be simpler than you previously thought ! Moreover, The World Travel and Tourism Council calculated that tourism generated ₹16.91 lakh crore (US$240 billion) or 9.2% of India's GDP in 2018. The sector is predicted to grow at an annual rate of 6.9% to ₹32.05 lakh crore (US$450 billion) by 2028 (9.9% of GDP). This means the market for travel and tourism is growing at a rapid pace.

3. Step 1 :Create a plan for your travel business.

4. Define your Target Audience. E.g. Family, Women above 25 years of age, Married couples, Teenagers, Backpack Travellers , etc. What do you offer them? E.g. 10-Day Singapore Trip, 5 – Day Goa Beach Package. Decide pricing & profit. Write down your marketing strategy. How do you want to promote? E.g. Newspaper pamphlets, Facebook advertising, etc. How do you manage accounts? Choose any good Business Software to manage your cashflow and contacts.

5. Step 2 :Analyse the Market & Market Trend

6. It is a well-known fact that travel businesses flourish more during a certain period of the year. For example, summers are known to attract more business for travel agencies, due to the vacations. Starting your business around this time would be quite beneficial, as there’ll be a higher demand for your services. Due to the introduction of e – Tourism Visa to foreign travelers, there has been a sharp Increase in them visiting India as tourists. Estimates claim a 252.3 % growth for foreign tourists coming to India on an e – Tourist Visa. Such an increase means that you could benefit from targeting foreign tourists as well.

7. People from different regions of our country crave different travel destinations. For example, people from a region in Gujarat would have different travel preferences than someone living in Uttarakhand. The geographical factors of a region, play a pivotal role in catering to the travel needs of people. This should be taken into consideration before you set up a travel business in a certain area.

8. Step-3 : Take Care of The Legal Formalities

9. Once you’ve formulated a definite plan for opening your travel agency, you need to consider the legal aspects of setting up such a business-like travel agency registration process.  A few of the legal formalities to have a recognized travel agency include: – You need to register the agency as per the Companies Act. You need to get a GST Registration Of your agency. You need to provide an application letter to the Government as well as IATA (International Air Transport Association).

10. There are several benefits of getting your travel agency registered under IATA. A few of them are: – A badge of credibility to your travel business. More exposure to your agency (as it falls under the approved travel businesses)

11. Step 4 :Hire a Professional with Certificate

12. Hiring good support staff can sometimes mean the difference between success and failure–between obtaining more clients or constantly losing clients. To assist you in the process of setting up your travel business, you should consider hiring a travel and tourism professional. Such a professional with a certification can help you guide better with the do’s and don’ts of setting up a travel agency. Moreover, such professionals have a lot of practical experience in the field, which shall be helpful in bringing some real-world experience, while setting up the business.

13. Step 5 : Gather your funds needed for travel business investment

14. Luckily, you won’t have expensive equipment to buy, and you probably won’t need a huge space in the beginning. You may need some money to rent an office space, initial branding and promotion. Many travel agencies are family funded. See if you can start one from your savings. If not, apply for small business loans.

15. Step 6 :Build a brand, not just a travel agency

16. Offer Experience, not just a service. Define how your customers should feel when they visit your place, website, view your advertising, or use your services? Think about this: What experiences can I provide that others can’t? Offer unique services, such as partnerships with the locals of your travel destinations, that customers wouldn’t have access to otherwise. Provide options for Backpack Travellers.

17. Step 7 :Advertise your tour agency with local promotion.

18. Think about how you want to advertise your Travel Agency. Word of mouth, local advertising, Recommendations from others are ways to drive traffic to your Travel Business. Usually, offline Advertising can be very expensive. But don’t miss out on it.

19. Step 8 :Market your Travel Business online.

20. It is important to realize that, consumers of this generation are increasingly relying on the Internet for information. Most travel-related bookings are made online. Accept all the ticket booking like Bus booking, Train booking, Flight booking online. You will end up getting a lot more loyal customers by doing so. Important Rule: Have a strong ONLINE presence.

21. The travel and tourism industry in India has a lot of latent potential for making money. Why may you ask? It’s because of the following: – The travel industry contributed around $208.9 billion to the Indian GDP in 2016. Around 9.6% of India’s total GDP was from this sector. Introduction of e – Tourist Visas has blown the travel market to new heights. The relaxing of some travel barriers has made it easier for people in India to travel.

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