Love the idea of owning your own travel agent franchise and want to know how to get started? Good news – creating your own home based travel agency business plan is easier than you think with Dream Vacations Franchise. You can get started for as low as $3,500 down payment, making it more affordable than most franchise opportunities. Becoming a franchise owner with Dream Vacations provides an economical way to keep overhead costs down while working in the travel industry, thus earning higher profit margins as well.
That said, like any business, there are of course still some basic costs to plan for and cover before getting your travel business up and running. Planning ahead and determining what those costs will be ahead of time can provide you with a clear picture of moving forward, allowing you to create the travel business of your dreams!
Developing a Business Plan for a Travel Agency
Crafting a brand-new business plan might seem intimidating at first, but Dream Vacations Franchise has your back. We’ve got more good news, too – your business plan can be short and sweet. The beauty of travel business franchise opportunities like Dream Vacations Franchise is that you are assigned a business development manager who will assist you in the process of creating a business plan. Our training initiatives, support teams and straightforward travel business plans are here to guide you through the initial start-up phase of your business, and the time your travel business is actually running.
Getting started, your business plan should focus on the following elements:
- Vision – What do you see your business doing? What will be the result?
- Mission – Why are you opening a travel franchise?
- Objective – What are your goals?
- Strategy – How are you going to meet your objectives?
- Action Plan – What are the smaller steps you will take to enact your strategy?
Having a business plan from the earliest phases of being a franchise owner with Dream Vacations will help you develop your budget, which goes hand-in-hand with determining the goals for your own home-based travel business.
Assembling an Initial Budget
Every business needs a budget, but it’s important to highlight just how essential this really is. A good budget will serve as a spending guide to getting your business past the start-up phase and to the point where it can become a self-sustaining dream boat (pun intended). A budget will also help you determine key basics like income and potential overhead.
A few key points to consider in your budget include:
- Day-to-Day Living – This includes your own costs of mortgage or rent, utilities, car payments, and other standard yet important fixed costs.
- Business License – Many states require this even for home-based businesses, so it’s vital not to skip this step, as it could cause issues down the road otherwise.
- Memberships – Belonging to certain travel associations can boost your credibility as a travel professional. Luckily, a Cruise Line International Association (CLIA) is one of the benefits of becoming a Dream Vacations Franchise owner.
- Marketing – Marketing is a core pillar of any home based travel agency business plan. Determine how much you will need to spend to get the word out about your business, and you’ll be ahead of the game. Know little about traditional or digital marketing? Dream Vacations Franchise offers a robust suite of educational supplies, lead generation programs and support to owners.
- Office Setup and Supplies – If you’ll be setting up an office, figure out how much you will need to spend on a computer, printer, phone or fax machine – and above all, ensure you have a solid internet connection.
Consulting your franchise development manager or another franchisee who owns a home-based travel business can help determine your financial needs, too. Both are resources that will be within your direct network once you become a Dream Vacations Franchise Owner.
Ready to learn more? Sign up for one of our FREE travel franchise webinars today!