Business Strategy for Travel Agency Owners: Seven Savvy Tips

man sitting on a deck of a boat, laughing, with a laptop out - business strategy for travel agency

With the travel and tourism market expected to continue growing over the next several years, now is an incredible moment to enter the travel industry. With 74% of total travel and tourism revenue expected to come through online sales by 2027, now is the perfect time to start a travel business with extensive technological tools and resources. 

For those with an entrepreneurial spirit, becoming a Dream Vacations franchise owner is the perfect entry point towards success. Our process is relatively simple (and low-cost), and you’ll get the best support to learn business strategy for travel agency owners to maximize your success. 

Follow these seven steps towards building the travel business of your dreams!

1. Establish Your Goals From the Beginning 

Any business strategy for travel agency owners must start with clear objectives. How would you like to see the business grow, and how can you connect with clients and provide them with the best experience? 

Be clear on what you want your travel agency to accomplish. Then, you can connect the dots on how to get there.

2. Build a Business Plan

Only about one-third of small businesses actually have a business plan – the ones who do are the most poised for future success. 

A business plan for a travel agency should include info about your target clients, income goals, market analysis, sales and revenue projections, a marketing plan, information about your operations and whether you want to focus on a specific travel niche.  

3. Set a Budget 

To be successful, it’s important to understand your finances and income. That means establishing a budget for business expenses. Budgeting is a critical responsibility for any business owner. 

The good news? Dream Vacations is one of the most affordable franchises to buy. With low up-front costs, you can get the best value for your investment.

4. Take Advantage of Training Resources

If you’re buying a franchise with no experience, that’s okay. You’ll have a treasure trove of resources to help you, right at your fingertips. 

Dream Vacations hosts regular regional travel agent training sessions, plus a national conference once a year (on board a cruise ship!). Online, Dream Vacations offers more than 1,500 training courses to teach you about specific products like cruise lines and tour vendors, as well as lead generation, operations and technology, branding and more. Some courses even offer training on soft skills like communication, so you can learn how to manage a franchise effectively. 

Dream Vacations also offers full guidance if your state requires a license to sell travel. 

5. Design a Marketing Plan to Connect to New Clients

You’ve started your business. You’ve set your goals and budget and have begun educating yourself on the industry. Now, it’s time to build a plan for how to get clients as a travel agent

It’s okay to start simple and reach out to people you already know! Collect a list of friends, family members, colleagues, neighbors, classmates or community members. You’ll will find many who are itching to book that dream vacation finally. 

You can also draw up an email or social media marketing plan, join local business groups or partner with other businesses in your community. 

6. Build your Network

When you become a Dream Vacations franchise owner, you get access to our network, and you’ll be able to make connections with individuals in your community and those across the country. These can open doors to new clients — or simply to a group of people you can lean on for advice about how to manage a franchise.

7. Go on Familiarization Trips 

For those who are buying a franchise with no experience, it could be helpful to take a familiarization (or “FAM”) trip. These reduced-cost trips give you on-the-ground experience with the exact resorts, cruises or excursions you’ll sell to clients. For someone planning their dream vacation, it’s an incredible benefit to buy from someone who’s been there! 

Become Part of the Dream Vacations Travel Family

Effective business strategy for travel agency owners can be powerful and useful — especially when you can lean on resources, advice and networking opportunities from experienced experts. 
Are you ready to learn more and become a Dream Vacations franchisee? Fill out our brief information request or give us a call to get started!