6 Must Haves That All Travel Advisors Need in Their Starter Pack
6 Must Haves That All Travel Advisors Need in Their Starter Pack

Although the travel industry is becoming increasingly more competitive, if you’re an individual who loves traveling and planning, you should definitely consider a career as a travel advisor. Seasoned travel advisors have enjoyed many benefits as professionals in the travel industry including being their own boss, working from home, experiencing different cultures, and having very little operating costs. However, as previously mentioned, your effectiveness as a travel advisor relies on your ability to find a profitable, niche market in a competitive industry. That being said, here are the things you need to do to start a successful travel advisory business:

Establish a business plan

Regardless of what industry you’re in, a business plan is pivotal to your success. Even if you allocate only an hour of your time to create a general outline, creating a business plan has been proven to assist your business grow faster and more efficiently. The degree of effort and time needed to write a good business plan depends on a variety of factors. For example, if you intend to work from home, you will need to find a host travel agency that you will contract for. On the other hand, establishing your own travel advisory business is a much longer process that requires more resources, but comes with more flexibility. It is also important to have a formal business plan if you want to acquire funding from financial institutions or angel investors.

Choose a niche market

Before you do anything else, make sure that you conduct some market research to determine what kind of travel advisory business the market needs. By finding out what consumers want and need in a travel advisor, you will be able to fill that niche and accordingly operate your business. An example of this is that if you observe a trend of seniors backpacking in Europe, you can fill this niche and make it your target market. Ultimately, it is important to avoid saturated markets and identify a niche group of consumers that you can tailor your business around.

Develop a brand

After you decide on what your target market is going to look like, the next step is to form a strong brand image that you can leverage to promote your business. When developing your brand keep in mind that it will affect how your customers feel and how they perceive you. As a result, be sure to effectively promote your brand image through your online platform, storefront, and any other location that consumers have direct access to. Creating a brand is essentially an opportunity for you to ensure that your target market views your business favourably.

Fortunately, a travel advisory business is relatively simple to set up in comparison to most other businesses. Even though the majority of locations don’t require travel advisors to be licensed or certified, these protocols vary across different regions. Provided this, make sure that you look into whether or not you need to be licensed or certified as a travel advisor. Aside from licenses, the only other legal requirements you will need to deal with are choosing your business structure, naming your business, and applying for a Federal Tax ID number.

Decide on a funding strategy

Despite the fact that your starting costs will be quite low, as a travel advisor, you will need funds for an effective marketing platform. This could include promotional materials such as your business website, business cards, and flyers. In addition, depending on if you’re working from home or not, you may need to pay for office space and employees. With this in mind, you need to have a clear financial plan that outlines how you will fund your travel advisory business. Although many travel businesses are self-funded due to the low initial cost, if you are lacking capital, looking into loans and a line of credit is a good idea to help you get started.

Connect with other travel advisors

Once you launch your travel business and begin a marketing campaign, other than ensuring smooth operations, you should prioritize networking with other professionals in the industry. By establishing meaningful relationships with other advisors, you will be able to share advice with one another and gain valuable insight from senior professionals that have more experience in the industry. Other than signing up for in-person or social media travel advisor groups, signing up for the All Travel Advisors (ATA) forum at https://www.alltraveladvisors.com/ is one of the best ways to network with other advisors while also keeping up to date on recent news in the travel industry. Another way to effectively meet other advisors is to join the travel advisor directory at https://www.itinza.com/, which allows you to network, build your client base, and showcase your services.