Being a land of varied topography and a lot more added cultural heritage, India is indeed one of the most sought after travel destinations in the world. It has everything for everyone seeking their solace. Hence a travel and tourism business in India is something that everyone would like to go for. But to start one, it requires much more than just selling travel packages to the people. The travel industry in India is growing at a faster pace with newer destinations other than the traditional ones coming up as an option. So, how to start a travel business in India?
Diving into the basics of starting a travel and tourism business of course requires a structured model which helps identify the beneficiaries and the end result in the form of a successful conversion into a package.
To begin with: In order to start a travel and tourism company though some things are needed to be taken into account which may include going through the registration process, obtaining license if needed, securing your brand, registering a trademark, naming your business, etc., getting an initial start with a Gumashta license under the Shop & Establishment Act is the most that one would require.
Funding: Funds are essential for a travel company setup. These may however be managed with the savings or a little help from the near and dear ones; however, for expanding it further – may be for an office setting, furniture, staff, electronic equipment, etc., some kind of fund raise is needed. This can be done with the help of:
- Term loans for one-time credit requirements.
- Line of credit, which is basically an overdraft facility for greater flexibility for cash flow.
- Invoice discounting that helps with instant credit.
- Merchant advance loans that are repaid through everyday deductions made directly via POS machines.
Get yourself branded: A good brand name for your travel business helps a lot in promoting the business in the industry. Specify your product and target the customer. Be clear about what you would be offering the customers. For example; ticketing, tour packages, hotel stays, etc.
Locate yourself: Choosing a perfect location for office setup is equally necessary. A great location for your travel business enables getting a good flow of customers and higher conversion rate. This also makes hiring the employees and carrying out the business operations an easier task.
Customers first: Who you are going to sell the travel package? Each person has his own choices and a budget to spend on it. Modifying your marketing policies and approach towards the customer plays an important role in achieving business objectives while making a close connection with them.
Promotion: Promoting a travel and tourism business takes a lot of effort and study of market. Adopting different marketing strategies and mixing them up, can help survive the competition. Apart from traditional advertising through tele commercials, newspapers, business cards, etc., the social media marketing is now making a huge difference for efficient running of a travel and tourism business. A good travel website with an SEO feature may help you with this. Sharing travel and tourism posts on social media, adding variety to them and sending travel newsletters through emails also help to connect with the target audience. A referral program for travel agents, providing informative content, or getting a feedback from established and newer customers proves beneficial in paving a path to success.
This and a lot more may be tried on and off on a timely basis to make your travel business a success. So, get ready and best of luck.
