Starting a Business
Starting an Airline Ticket Agency
Here's some helpful information that is ideal for those of you who want to open an airline ticket agency. Read these tips before you open up shop.
This article includes several good tips on starting an airline ticket agency.
Airline Ticket Agency Startup Considerations
Despite periodic fluctuations, the travel industry presents a relatively stable business opportunity for the right entrepreneurs. Faced with variable energy costs and other pressures, airlines routinely change their pricing structures and fee rates, creating the possibility for agents to act as intermediaries between passengers and airlines.
The downside is that most airlines have cut or eliminated their commission plans. So as an airline ticket agent, you can't count on receiving commissions for your services, at least not from the airlines themselves. Instead, agents collect service fees from their customers.
Even though passengers have the ability to shop for tickets and purchase them directly from the airlines, and even though online ticketing options abound, many consumers and businesses still prefer to avoid the hassle and will gladly pay someone else to find the best rates for them.
Launching Your Travel Agency
An airline ticket agency can be launched from either a home-based office or storefront.
Until you have an established client base, we recommend running your agency from a home office to decrease overhead costs. When the agency grows, you can move to a more visible location and expand your business model by employing additional agents.
Diversifying Agency Revenue Sources
Successful airline ticket agencies diversify their revenue stream by booking group vacations, cruises and other travel opportunities.
A diversified revenue strategy insulates your business from the volatility of the airline industry and stabilizes your customer stream. When groups or individuals book vacations through your agency, you can easily handle their airline bookings, which naturally include a service fee.
Writing Tips for an Airline Ticket Agency Business Plan
We know - writing a business plan can be a daunting task for a new entrepreneur.
But here's the good news: With a few tips, any entrepreneur can create a successful plan for their business. If you can get past the mystique, you'll see that a business plan just describes where your airline ticket agency is headed and how you intend to get there.
When you compose a business plan, you formally document the rationale behind your entrepreneurial vision. The information in your plan (and your rationale) are essential for lenders, investors and other people who have a stake in your company.
As a launching point, take a look at the sample business plans other business owners have used to achieve success.
Evaluate Competitors
Long before you open an airline ticket agency within your community, it's essential to find out how you will fit in the competitive landscape. Try our link below to get a list of local competitors near you. Simply enter your city, state and zip code to get a list of airline ticket agencies in your town.
Is the local market large enough to support another airline ticket agency? If not, you had better be sure that you are doing things much better than the competition.
Talk to People Who Are Already in the Business
As part of your due diligence on opening an airline ticket agency, be sure to have a conversation with someone who is in the business. If you think owners of nearby airline ticket agencies will give you advice, think again. It'd be crazy for them to teach you the business.
However, a fellow entrepreneur who has started an airline ticket agency outside of your community will be much more likely to talk with you, after they realize you reside far away from them and won't be stealing their local customers. In fact, they are often very willing to share startup advice with you. If you are persistent, you can find a business mentor who is willing to help you out.
Want the scoop on finding an airline ticket agency entrepreneur in a different locale who can assist you?
Simple. Let your fingers do the walking by using the link below.
Purchasing an Airline Ticket Agency
So you're seriously considering buying an airline ticket agency rather than starting one from scratch. Smart move. Yet the process of buying an airline ticket agency introduces a new set of challenges.
As you would expect, there are a number of steps in buying a business. A business broker is the gateway to the buying process.
A good business broker serves a number of useful purposes. From locating available companies to helping seal the deal, your broker will have the experience and skills to help you successfully navigate the purchase process.
Franchising May Be a Better Way to Go
Tapping into a franchise opportunity makes it a certainty that you get access to great ideas that have been tested and proven over time.
Prior to starting an airline ticket agency, it's worthwhile to check out whether there are good franchise opportunities available that might help you on your entrepreneurial journey.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
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