5 Advantages of Running a Travel Franchise
Many people dream of running their own travel business Ė and for good reason. Letís look at some of the biggest plus points of joining a travel franchise.
Here in the UK, travel remains high on the agenda, so itís a great time to invest in a travel agency franchise. According to research, the average Brit goes on holiday twice a year and spends £855 each time. Of course, this is the typical holidaymaker, and 23 percent of the population spends more than £1,000 per trip.
Weíll delve deeper into the travel industry later on but, for now, letís look at the top advantages of running a travel franchise.
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Advantages of running a travel franchise
1. You can work from home
These days, many businesses operate online and travel agencies are particularly well-suited to this type of model. If you opt to offer your services over the internet, you can work from the comfort of your own home Ė all you need is a laptop, phone and Wi-Fi. In fact, youíre not restricted to your home; you could run your business from any suitable location, including your local cafť, friendís house or even when youíre on holiday yourself.
2. You get to travel
As a travel agency business, you need to be able to offer insightful suggestions and sensible recommendations for different customers. So, youíll need to have extensive knowledge of the packages youíre offering Ė and what better way to gain this than with first-hand experience?
One of the biggest advantages of working in the travel franchise industry is the access to discounts, upgrades and free trips, so donít hold back! This is your ticket to travel to all sorts of interesting locations across the globe. Your plans should be guided by the type of business you plan to run, particularly if it has certain specialities, such as cruises, African safaris or UK breaks, for example.
3. You can boost your knowledge
By travelling the world, youíll have the chance to brush up on your knowledge of the local area Ė wherever you are. Primarily, this will help you provide accurate and helpful information to your customers, and bring in more leads. But it should also help you enjoy running your business in the long term. There will always be more for you to learn, which should keep your job interesting.
4. Itís rewarding
As a travel agency franchisee, youíll guide customers as they book their trip of a lifetime. Youíll get to be a part of the excitement they feel when they discuss travel plans and look forward to the day they finally jet off. One of the biggest advantages of running a travel agency is seeing your customers leave happy in the knowledge theyíve got a holiday to look forward to.
5. You can raise your income by targeting specific groups
Depending on the type of travel agency franchise you join, you can capitalise on demand by targeting specific demographics. For example, some businesses direct their services towards travellers with limited budgets or complex requirements. Others tailor their offering for people who struggle to use the internet to research holidays.
As trends develop in the travel industry, many agencies have built a following by focussing on different areas, such as cruises, eco-tourism or extreme sports. So, make sure you carry out extensive research of your local market to find out what your future customers are interested in. Then, youíll know which franchise businesses you should think about investing in and bringing to your region.
The current state of the travel industry
Travel and tourism is a huge industry across the world; it contributes more than £7 trillion to the global economy, thanks to collective travel bookings worth £394 billion. 1,323 million people travel abroad every year, and this number is on the increase, as the tourism industry grew by an average of 1.5 percent annually between 2014 and 2019.
Of all the international regions, China has the largest market share, at 21.4 percent. This puts the country 10 percent below the US, which holds 10.1 percent. The UK sits just fourth in the ranking, with a segment of 5.2 percent.
As you can see, the travel and tourism industry is thriving, but many holidaymakers are keen to minimise hassle when it comes to booking their annual break. Thatís why many turn to a travel franchise. They understand this can help save time and money, as travel agents are aware of the best discounts and offers available.
Consumers also opt to use a travel agency business to avoid the many holiday scams out there. Unfortunately, these are on the increase, and fraudsters stole over £7 million from 5,000 holidaymakers in 2018 (up from £6.7 million in 2017). This puts the average loss at £1,380, which not only leaves many in financial trouble, but can also affect the health of those impacted. In fact, 575 people said they were at risk of bankruptcy or received medical treatment following fraudulent activity.
As a result, travel franchises play a key role in the holiday-booking process. They offer customers good value for money, as well as an efficient and secure service.
To find out more information, take a look at our article on working remotely as a travel franchisee: Work from Home Travel Agent: A Complete Guide.
Alice Tuffery, Point Franchise ©
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