If you are considering investing in a travel and excursion franchise, you probably have a lot of questions. For many people, the thought of starting their own business can be an incredibly overwhelming experience, but also one of the most liberating experiences of their lives. In this article, we’ll look at some of the key considerations to keep in mind when making this decision.
The travel and tourism industry is literally booming globally and now contributes more than two trillion pounds to the economy. More and more people are thinking about how they can get involved in the travel and tourism industry, recognizing the explosive and exponential growth. Starting your own travel business from scratch is an option that people often consider, however starting without a network or even a basic starting point can be extremely difficult. A lot of startups will fail within 12 months, so always try to avoid this pitfall.
The most popular market for success within the travel industry is travel or travel franchises. What this essentially means is that instead of setting up a travel business from scratch, you can purchase a travel franchise that actually gives you a firm starting point to start your business. There are quite a few travel franchise businesses online, however there are probably only a couple of established businesses. If you choose to purchase a tourism franchise, be sure to do your research and choose the franchise company that best meets your needs.
So what can you expect in terms of support when buying a travel franchise? When buying a franchise, there are always different levels of support. Think of this as a three-tier membership: platinum, silver, and gold. The higher initial investment you are willing to make means the higher level of support and guidance you are likely to receive. However, there are some common levels of support that you should expect from all travel franchises.
The first thing to expect is a fully comprehensive training or induction program. Many franchise operators will offer a residential training course, so it will likely be an intensive course over several days or weeks. This can be a great opportunity to spend a lot of time with franchise tour operators and really tease each other, as they try to absorb an incredible amount of information.
They are also likely to bring in other new franchisees at the same time. This is also a fantastic opportunity to meet like-minded people who are also at the beginning of the same journey that you are on. If you can take the opportunity to spend time with them and learn about their motivations for establishing a new franchise, you can increase your knowledge, but also start building your travel network. In the travel industry in particular, your network and acquaintances can really be a determining factor in your performance.
You can also look forward to some of the more practical tools for setting up a new franchise. This could include a laptop, hopefully preloaded with any specialized software and templates you might need. This may not always be included as a standard support tool, so you should always try to ensure that you fully understand everything that is provided. A functional website, which is marked with your company name and logo, is also something to look forward to.
Finally, you may also receive some branded materials, such as brochures, brochures, and business cards. Remember that when you meet potential customers, handing them a business card can be a great way to exchange your details with them and stay in touch.