travel business plan template

Travel Agency Business Plan Template

Written by Dave Lavinsky

Travel Agency Business Plan

You’ve come to the right place to create your Travel Agency business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their travel agencies.

Below is a template to help you create each section of your Travel Agency business plan.

Executive Summary

Business overview.

My Itinerary Travel Agency is a new travel agency located in Boca Raton, Florida. The company is founded by Sandra Rodriguez, an experienced travel agent who has gained valuable knowledge on how to run a travel agency during the past ten years while working at Fun Destinations Travel Agency. Now that Sandra has experienced managing a travel agency, she is ready to start her own company, My Itinerary Travel Agency. Sandra is confident that her organizational and communication skills, combined with her understanding of business management, will enable her to run a profitable travel agency of her own. Sandra is recruiting a team of highly qualified professionals to help manage the day-to-day complexities of running a travel agency – sales and marketing, vendor relationships, customer relationship management, budgeting, and financial reporting.

My Itinerary Travel Agency will provide a full suite of travel planning services for individuals nationwide through its sophisticated online platform and accompanying customer app. My Itinerary Travel Agency will be the go-to travel agency for personalized service, convenience, and expertise of its travel agents. The company will be the ultimate choice for customer service while offering the best travel accommodations available.

Product Offering

The following are the services that My Itinerary Travel Agency will provide:

• Airline travel bookings
• Tour and travel package sales
• Accommodation reservations and bookings
• Cruise bookings
• Car rental reservations
• Travel ticket sales and reservations
• Tour ticket sales and reservations

Customer Focus

My Itinerary Travel Agency will target individuals nationwide who are looking for personalized and convenient travel planning services. The company will target vacationers, tourists, and business travelers who are seeking the best deals on premium accommodations. No matter the customer, My Itinerary Travel Agency will deliver the best communication, service, and the best prices.

Management Team

My Itinerary Travel Agency will be owned and operated by Sandra Rodriguez. Sandra is a graduate of Florida University with a degree in business. She has over ten years of experience working as a travel agent for another local agency. Sandra will be the company’s chief executive officer. She will oversee the travel agency staff, manage customer relationships, and build vendor relationships.

Sandra has recruited sales and marketing expert, Sara Anderson, to be the company’s chief marketing officer and help oversee travel agency’s sales and marketing activities. Sara will handle all branding, marketing, advertising, and outreach for the company. She will also create and maintain the company’s online and social media presence. Sara has a Master’s degree in Marketing and has nearly ten years of experience working as a marketing director for a leading travel industry corporation.

Success Factors

My Itinerary Travel Agency will be able to achieve success by offering the following competitive advantages:

• Skilled team of travel agents combined with the latest technology in the industry will allow the company to provide its clients with personalized service and modern convenience to make planning their trip easy and efficient.
• The members of the leadership team have long standing relationships with a large pool of vendors, allowing them to provide clients with the best deals possible on premium accommodations.
• The company offers a variety of modes of communication to better serve more clients’ preferences. Customers can speak with a travel agent in person, via telephone, video call, email, or chat through the website or app. Support is available 24/7 to ensure all clients’ questions and concerns are promptly attended to.

Financial Highlights

My Itinerary Travel Agency is seeking $290,000 in debt financing to launch its travel agency. The funding will be dedicated towards securing the office space, and purchasing office equipment and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff and marketing expenses. The breakout of the funding is below:

• Office build-out: $110,000
• Office equipment, supplies, and materials: $70,000
• Three months of overhead expenses (payroll, utilities): $90,000
• Marketing costs: $10,000
• Working capital: $10,000

The following graph below outlines the pro forma financial projections for My Itinerary Travel Agency.

Company Overview

Who is my itinerary travel agency.

My Itinerary Travel Agency is a newly established travel agency in Boca Raton, Florida. My Itinerary Travel Agency will be the first choice for anyone seeking a personalized approach, 24/7 support, and streamlined technology to make trip planning easy. The company will serve customers nationwide from their headquarters in Florida.

My Itinerary Travel Agency will be able to guarantee the best deals possible thanks to the leadership team members’ long standing relationships with a large network of vendors in the hospitality, transportation, and entertainment markets. The company’s team of highly qualified travel agents will provide personalized service to each client, removing the uncertainty and hassles associated with finding and booking the right accommodations.

My Itinerary Travel Agency History

My Itinerary Travel Agency is owned and operated by Sandra Rodriguez, an experienced travel agent who has gained valuable knowledge on how to run a travel agency during the past ten years while working at Fun Destinations Travel Agency. Now that Sandra has experienced managing a travel agency, she is ready to start her own company, My Itinerary Travel Agency. Sandra is confident that her organizational and communication skills, combined with her understanding of business management, will enable her to run a profitable travel agency of her own. Sandra is recruiting a team of highly qualified professionals to help manage the day-to-day complexities of running a travel agency – sales and marketing, vendor relationships, customer relationship management, budgeting, and financial reporting.

Since incorporation, My Itinerary Travel Agency has achieved the following milestones:

• Registered My Itinerary Travel Agency, LLC to transact business in the state of Florida
• Has identified the ideal location for the company’s office and is in the process of securing a lease
• Reached out to numerous contacts to include transportation, hospitality, and entertainment companies to begin securing vendor contracts
• Began recruiting a staff of accountants, travel agents, and other office personnel to work at My Itinerary Travel Agency

My Itinerary Travel Agency Services

• Airline travel comparisons and bookings

Industry Analysis

The U.S. travel agency industry is valued at $48.5B with more than 90,600 businesses in operation and over 318,600 employees nationwide. Factors currently driving industry growth include an increase in domestic tourism and travel for overnight trips, vacations, and business purposes. More domestic travel typically results in more consumers using travel agencies to book their trips. The travel agency industry can be segmented by brick-and-mortar establishments or online businesses. The global market size for the online travel agency segment reached $432B last year and is expected to rise as more people use the internet to book their trips. The travel agency industry relies heavily on the use of technology. Industry operators must stay up-to-date on the latest travel technology in order to remain competitive in the market.

One of the most significant hurdles for travel agency operators is attracting customers in the age of do-it-yourself booking. Now that customers are able to book many of their travel accommodations themselves, travel agents must be able to demonstrate why booking with them is a better option. Some ways industry operators can add value are by providing personalized services, promotional discounts, and helpful information about accommodation options.

Customer Analysis

Demographic profile of target market.

My Itinerary Travel Agency will target individuals nationwide who are looking for personalized and convenient travel planning services. The company will target vacationers, tourists, and business travelers who are seeking the best deals on premium accommodations. No matter the customer, My Itinerary Travel Agency will deliver professional communication, service, and the best prices.

The precise demographics for Boca Raton, Florida are:

Customer Segmentation

My Itinerary Travel Agency will primarily target the following customer profiles:

• Individuals and families planning a vacation
• Business travelers
• Individuals and families in need of accommodations for events such as weddings, reunions, or conventions

Competitive Analysis

Direct and indirect competitors.

My Itinerary Travel Agency will face competition from other companies with similar business profiles. A description of each competitor company is below.

Fun Destinations Travel Agency

Fun Destinations Travel Agency is one of the largest and oldest travel agencies in Florida. The company was founded in 1958 in Boca Raton with one small office location. Now, the company has over 50 locations throughout multiple states. Fun Destinations specializes in booking accommodations for family vacationers. The company books accommodations near key family destinations such as theme parks, resorts, and tourist attractions. Fun Destinations is family owned and operated so the founders are familiar with the hassles associated with planning a family vacation. For this reason, Fun Destinations focuses on booking the best family-friendly accommodations so its clients can relax and enjoy the family fun.

Best Fit Vacations Travel Agency

Best Fit Vacations Travel Agency is a small travel agency catering to Boca Raton locals from its central office and nationwide clients via its online booking platform. The company was established in 1995 with the mission of providing vacation accommodations that will be “the best fit” for every client. Best Fit Vacations is owned and operated by industry professionals that have extensive experience working with vendors to negotiate the best deals for clients. The company strives to get the lowest prices for every booking and regularly finds additional savings and discounts other agencies might not know about.

Trustworthy Travel Agency

Trustworthy Travel Agency is a Boca Raton, Florida-based travel agency that provides superior service to its consumers. The company is able to provide a wide variety of travel accommodation bookings for customers in the area. Trustworthy Travel Agency has three locations throughout the state and operates an online booking platform for nationwide travelers. Customers can book online or over the phone at their convenience. The company uses an algorithm that finds the lowest prices on travel, lodging, and other accommodations across the country.

Competitive Advantage

My Itinerary Travel Agency will be able to offer the following advantages over their competition:

Marketing Plan

Brand & value proposition.

My Itinerary Travel Agency will offer the unique value proposition to its clientele:

• My Itinerary Travel Agency offers the best deals through its extensive vendor network.
• The company offers personalized customer service, a variety of communication modes, and 24/7 support.

Promotions Strategy

The promotions strategy for My Itinerary Travel Agency is as follows:

Social Media Marketing

The company’s chief marketing officer will create accounts on social media platforms such as LinkedIn, Twitter, Instagram, Facebook, TikTok, and YouTube. She will ensure My Itinerary Travel Agency maintains an active social media presence with regular updates and fun content to get customers excited about traveling.

Professional Associations and Networking

My Itinerary Travel Agency will become a member of professional associations such as the Travel Agency Association, American Travel Agents Society, and the Florida Travel Industry Association. The leadership team will focus their networking efforts on expanding the company’s vendor network.

Print Advertising

My Itinerary Travel Agency will invest in professionally designed print ads to display in programs or flyers at industry networking events. The company will also invest in professional ads to place in travel magazines and local publications.

Website/SEO Marketing

My Itinerary Travel Agency’s chief marketing officer will design the company website. The website will be well organized, informative, and list all the services that My Itinerary Travel Agency is able to provide. The website will also list testimonials from happy customers.

The chief marketing officer will also manage My Itinerary Travel Agency’s website presence with SEO marketing tactics so that when someone types in a search engine “best travel agency” or “travel agency near me”, My Itinerary Travel Agency will be listed at the top of the search results.

The pricing of My Itinerary Travel Agency will be on par with (and often lower than) competitors so customers feel they receive value when purchasing the company’s services.

Operations Plan

The following will be the operations plan for My Itinerary Travel Agency.

Operation Functions:

• Sandra Rodriguez will be the chief executive officer for the company. She will oversee the travel agents, vendor relationships, and customer relations. Sandra has spent the past year recruiting the following staff:
• Sara Anderson – chief marketing officer who will oversee all marketing strategies for the company and manage the website, social media, and outreach
• Tom Brown – accountant who will provide all accounting, tax payments, and monthly financial reporting for the company
• Christopher Jones – lead customer support manager who will directly oversee all customer support activities

Milestones:

My Itinerary Travel Agency will have the following milestones complete in the next six months.

12/1/2022 – Finalize contract to lease the office

12/15/2022 – Finalize personnel and staff employment contracts for the My Itinerary Travel Agency management team

1/1/2023 – Begin build-out/renovation of the office, and purchase office equipment and supplies

1/15/2023 – Begin networking at industry events and implement the marketing plan

2/15/2023 – Finalize contracts for initial vendors

3/15/2023 – My Itinerary Travel Agency officially opens for business

Financial Plan Business Plan FAQs

Key revenue & costs.

The revenue drivers for My Itinerary Travel Agency are the commissions earned as a percentage of bookings from vendors and fees charged to customers for consultations and services.

The cost drivers will be the overhead costs required in order to staff a travel agency firm. The expenses will be the payroll cost, utilities, greenhouse equipment and supplies, and marketing materials.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Average accommodations booked per month: 9,000
• Average commissions per month: $15,000
• Overhead costs per year: $640,000

Financial Projections

Income statement, balance sheet, cash flow statement, what is a travel agency business plan.

A travel agency business plan is a plan to start and/or grow your travel agency business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your travel agency business plan using our travel agency Business Plan Template here .

What are the Main Types of Travel Agencies?

There are a number of different kinds of travel agencies , some examples include: independent agency, host agency or franchise.

How Do You Get Funding for Your Travel Agent Business Plan?

Travel agencies are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.  This is true for a travel agent business plan and a tour and travel business plan.

What are the Steps To Start a Travel Agency Business?

Starting a travel agency business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Travel Agent Business Plan - The first step in starting a business is to create a detailed business plan for your travel agency  that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your travel agency business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your travel agency business is in compliance with local laws.

3. Register Your Travel Agency Business - Once you have chosen a legal structure, the next step is to register your travel agency business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your travel agency business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Travel Agency Equipment & Supplies - In order to start your travel agency business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your travel agency business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful travel agency business:

• How to Start a Travel Agency Business

Travel Agency Business Plan Template

Written by Dave Lavinsky

Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their travel agencies. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a travel agency business plan template step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Travel Agency Business Plan?

A business plan provides a snapshot of your travel agency as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Travel Agency

If you’re looking to start a travel agency or grow your existing travel agency you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your travel agency in order to improve your chances of success. Your travel agency business plan is a living document that should be updated annually as your company grows and changes.

Source of Funding for Travel Agencies

With regards to funding, the main sources of funding for a travel agency are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a travel agency is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.

Finish Your Business Plan Today!

Your travel agency business plan should include 10 sections as follows:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of travel agency business you are operating and the status; for example, are you a startup, do you have a travel agency that you would like to grow, or are you operating a chain of travel agencies.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the travel agency industry. Discuss the type of travel agency you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of travel agency you are operating.

For example, you might operate one of the following types:

• Commercial Travel Agencies : this type of travel agency caters to business travelers. These agencies specialize in tracking down deals for business travelers to help companies manage travel costs.
• Online Travel Agencies : this type of travel agency exists only in cyberspace. They provide clients with the convenience of online booking and discounts that are available only to professional travel agencies.
• Niche Travel Agencies : this type of travel agency provides clients with specialized knowledge of a region.
• Membership Associations : Memberships associations give travelers access to the organization’s travel planning services for the cost of an annual membership rather than charging per transaction. This type of agency offers the most benefit to frequent travelers.

In addition to explaining the type of travel agency you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new location openings, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the travel agency business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the travel agency industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards glamping, it would be helpful to ensure your plan calls for plenty of luxury camping packages.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your travel agency business plan:

• How big is the travel agency business (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your travel agency. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your travel agency business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: sports enthusiasts, soccer moms, baby boomers, businesses, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of travel agency you operate. Clearly baby boomers would want a different atmosphere, pricing and product options, and would respond to different marketing promotions than businesses.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most travel agencies primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other travel agencies.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes customers making travel arrangements themselves at home. You need to mention such competition to show you understand that not everyone who travels uses travel agency services.

With regards to direct competition, you want to detail the other travel agencies with which you compete. Most likely, your direct competitors will be travel agencies located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What products do they offer?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide better travel packages?
• Will you provide products or services that your competitors don’t offer?
• Will you make it easier or faster for customers to book your offerings?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a travel agency business plan, your marketing plan should include the following:

Product : in the product section you should reiterate the type of travel agency that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to regular accommodation and transportation booking, will you offer items such as tour packages and excursions?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the packages you offer and their prices.

Place : Place refers to the location of your travel agency. Document your location and mention how the location will impact your success. For example, is your travel agency located next to a heavily populated office building, or highly trafficked retail area, etc. Discuss how your location might provide a steady stream of customers.

Promotions : the final part of your travel agency marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Making your travel agency’s storefront extra appealing to attract passing customers
• Distributing travel brochures outside the travel agency
• Advertising in local papers and magazines
• Reaching out to local bloggers and websites
• Social media advertising
• Local radio advertising
• Banner ads at local venues

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your travel agency such as serving customers, procuring supplies, keeping the office clean, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 1,000th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.

Management Team

To demonstrate your travel agency’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in the travel agency business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in travel agencies and/or successfully running retail and small businesses.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 50 customers per week or 100? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your travel agency, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a travel agency:

• Location build-out including design fees, construction, etc.
• Cost of equipment like computers, website/platform, and software
• Cost of marketing materials and maintaining an adequate amount of supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.

Travel Agency Business Plan Summary

Putting together a business plan for your travel agency is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the travel agency business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful travel agency.

Travel Agency Business Plan FAQs

What is the easiest way to complete my travel agency business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Travel Agency Business Plan.

Where Can I Download a Travel Agent Business Plan PDF?

You can download our travel agent business plan PDF template here. This is a business plan template you can use in PDF format.

What is the Goal of a Business Plan's Executive Summary?

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Free Travel Agency Business Plan Template

Okay, okay. I know you’re crazy thrilled that you’ve found a free travel agency business plan template for your agency! I promise we’ve got a super razzly-dazzly one that will help you craft THE BEST travel agency business plan out there. So we’ll have you download your free travel agency business plan template in just a second, and then we’ll walk you through the different pieces of the business plan in the article.

Sound like a (business) plan?!

What Is the Purpose of a Travel Agency Business Plan?

Here's a sneak preview of what you can expect from HAR's business plan below. (Need no convincing? Download it here .)

Business plans got their start as a way for banks to vet new businesses before deciding to give them a loan. After all, people that have thought long and hard about their business and taken the time to painstakingly write down all the steps and intricacies have a higher likelihood of success.

Now when it comes to travel agencies, you may think having a business plan is overkill or outdated. Sure, if you’re opening a storefront agency or a franchise you may need some capital from the bank/investor so a business plan may be a necessity. But now that most agencies are home-based, the median start-up cost for a non-franchise travel agency is $1,000 . If you’re not getting a loan, do you really need a business plan?

If you’re starting a travel agency, here’s a few reasons why creating a travel agency business plan might be helpful to you:

• Practical: it will help you feel prepared and confident as you make important business decisions.
• Inspirational: it will help remind you what it is that inspired you to start a travel agency and what kind of impact you hope to have on your clients. The kinds of things that will remind you why you started all these shenanigans when logistical tasks like taxes get boring or complicated.

The other thing a travel agency business plan can do? It will help you describe your agency—the service you provide (do you have a niche?), the market in which you’re operating, the money you need to get started and keep going, and the people you need to help you get there (accountants? Sub agents? Bookkeeper? Web Developer?) In short, it can help you feel prepared and confident, and our free travel agency business plan is going to help you with that!

Download HAR’s Free Travel Agency Business Plan Template

We have a handy dandy (and free) travel agency business plan template for YOU, dear reader! Yay, it is the companion to this article.

We’re offering our travel agency business plan template free (no catch) because we want your new business to be off to the best start possible!

Alright, now you’ve downloaded our free travel agency business plan template, great! We’ve already filled it out for our fictional travel agency, Corona Travels , and now we need to work on personalizing this business plan to your travel agency.

To update your personal business plan template with your brilliant ideas, all you'll need to do is delete the sample description provided in the template and add in your own material! In the next section, we walk you through each part of the business plan. I recommend that as you read through the article, you compare the sections of the travel agency business plan template. That way, you'll have an explanation for each part with an example.

Let’s jump in and start tailoring the business plan template to your travel agency!

Hold up. Still need to get your agency set up? We have just the thing.

Now, a business plan template may feel like you're getting ahead of yourself if you haven't named and/or registered your business yet! If you still need to take strides to get your agency off the ground (your agency, name, niche, registration, host affiliation etc.) we have a course that will fast-forward that process.

Check out HAR's 7 Day Set Up Accelerator course to get your agency set up faster so you can start monetizing sooner! The course is written and taught by HAR Founder, Steph Lee, and professional Educator, Bridget Lee. It includes nine chapters with 70+ instructional videos, course quizzes, peer accountability, and monthly meet-ups with HAR members and industry experts.

Now, let's go over the business plan!

Travel Agency Business Plan, Part 1: Overview

The overview is like an executive summary that briefly summarizes all aspects of your travel agency business plan. You can think of this as the “elevator pitch” of your travel agency business plan. Oddly enough, I like to do these summaries last, since then you’ll have all the info at your fingertips that you'll need to summarize.

So what details are you filling out in this first part of the travel agency business plan?

• Name of Your Business: Not sure what your travel agency name is yet? We can help you with that .
• Location: Is it your house? A PO box? A storefront? Your sister’s basement?
• Your Travel Niche: Specializing as a travel agent is more important than ever. Selling travel is about much more than booking. It’s also about bringing knowledge, expertise, access, and resourcefulness to the table—all the qualities that help separate you from an OTA (online travel agency).
• Your Target Client: Luxury? Families? LGBTQ? Cruisers? Boomers or Millennials? Honeymooners? Foodies? Who do you imagine your client to be and how will this shape the way you develop your travel agency?
• Your Competition: Another way to look at this is, who are your industry peers? What might your customers consider if they don’t use you as a travel agent? (Try to think beyond OTAs like Expedia.)
• The expertise of Management Team: Okay, so your management team might be you and the office dog (we know who’s the alpha in the office!). But even if that’s the case, this section is an opportunity to reflect on your strengths as a travel agency owner.
• Financial Projections: Unless you’re coming into the industry with a book of business, this might seem intimidating. It’s hard to know what to expect right? But the good thing is we have an amazing resource for you: “ Travel Agency Startup Costs and Earnings: What to Expect ” Wow! Who knew?!
• Travel Agency Mission Statement: This will help you remember why you did this in the first place, and remind you what kind of impact you hope your business will have on others! Warm fuzzies, right?!

And hey, we’re done with Part 1!! Just like that. ;)

I know you can barely contain your excitement to start reading about our next section, business foundations !

Travel Agency Business Plan, Part 2: Business Foundations

This section of your travel agency business plan provides background information on your agency. If you’re brand-spanking new, much of this information will be provided in the overview. If your business has roots, it may be a little more complex.

This section can include:

• Legal Structure : What type of business is your agency? LLC? Sole Prop? S Corp? Has it changed over time?
• Agency Founders and Their Role in the Formation of Your Travel Agency : Who are the founders and what are their roles?

Ah, that was a nice and easy section, wasn’t it? Now we need to start getting real. Yes, folks, the well-loved travel agency business plan template goes OCD in the next section!

Travel Agency Business Plan, Part 3: Product or Service

This section is where the rubber hits the road with your niche and will help you begin to think about developing preferred supplier relationships with your travel agency.

• Products/ Services Provided: This may seem obvious—you sell travel! But if you’re considering providing other services (even if it’s a future goal), it will be important to consider that too. In addition to planning and booking travel, this may include: Coaching clients to book their own trips; trip consultations; wedding planning; providing education, training or mentorship to other agents; facilitating educational webinars (etc.); speaking at industry events.
• Sales Projections: This is hard if you haven’t booked any travel yet. But consider what kind of travel you want to sell. How many clients are you booking? How many trips do you aim to sell weekly/monthly/annually?

This is a good opportunity to make financial goals for your travel agency. What kind of annual income are you aiming for? How much would you have to sell in one year to reach that?

If you are providing multiple services as a part of your travel agency business, what is the breakdown among those different services?

• Industry Projections for Your Travel Services: We’ve done a lot of legwork for you on this one in our travel agency business plan template. But, if you want to add more, imagine this as describing the industry viability to someone who is not within the industry. What influences demand for your travel services? How is the health of the travel industry overall? Check out HAR's latest income survey results !

Now that you’ve dug into the details in this section, let’s move into the next section of your travel agency business plan that doesn’t tax your brain. It’s about management structures and it’s equal parts easy and boring (#honest).

Travel Agency Business Plan, Part 3: Management Structures

This will be a very fast exercise if you are opening your agency alone :). If you’re working for yourself, you may also want to consider outside organizations that influence your business:

• If applicable, which host agency/franchise do you belong to?
• If you or your host belongs to a consortium, which one?
• What travel organizations are you a part of? (i.e. ASTA, IGLTA, PATH, CCRA etc.)
• Since you are an independent agent, these outside organizations won’t have a direct stake in your business, but they may influence your day-to-day operations in some way.

If you're flying solo, you can probably stop here! But if you have or want to take on sub agents or employees you’ll want to do the above, and you’ll also need to go into more depth with your travel agency management structure below:

• If applicable, create an organizational chart of your travel agency. You can think of this as a business version of a family tree. This will help you visualize who the players are and what roles they serve to your agency.
• What value do the different management positions add to your travel agency?
• What are the responsibilities of their positions?
• Describe other ICs or employees/ positions and their responsibilities. How will they complement what you do for your agency? (i.e. Sell a different type of travel under your brand? Work on sales? Bookings only? Administrative assistant?)
• If you have sub agents or employees, break down overall payroll expenses. What is their compensation? A commission split? A base salary? A combination of the two? Will you provide any bonuses or benefits if you have employees?
• Do you anticipate future additions to your staff?

Phew! That was a long one. Well, you certainly nailed it. Kudos!

Travel Agency Business Plan, Part 3.2: Who Is Your Office Mascot?

This is probably the most important factor in building a business plan. How the heck are you going to get up and work every morning without a dog pushing their cold nose into your face, or a cat trying to use your neck as their personal radiator?

Still with me? Okay, no more goofing off. Just wanted to throw in a fun interlude . . . I’ll get back to business now.

Travel Agency Business Plan, Part 4: Marketing Strategy

This section of your travel agency’s business plan will help you clarify some of your marketing goals in the long term.

• Who are your major clients? Include names, location, and what kind of travel they prefer. What was the sales volume for each customer? Have they provided referrals for your business?
• Who are prospective clients? Who might be other potential travel clients for you? Parenting class members? Your yoga class? Regulars at your favorite bookstore? Do you have a way to informally see how they might respond to your travel services?

Marketing Plan

What is your marketing plan? Consider things such as:

• Your pricing. For example, if you want to charge fees.
• How do you want to market to clients? Online, at wedding expos, in line at the grocery store?
• What region do you want to target and if you want to target clients outside your locale, how do you plan to do so?
• What is the flow of your services during planning, travel and post-trip? How do you plan on getting feedback from your customer once the travel is complete?
• What are your marketing priorities ? Networking? Referral? Online? Social media?
• Sales Strategy: Now that you have a list of potential clients and a marketing plan, how will you reach out to prospective clients? Host a cocktail hour? Send a mailing? Go to networking meetings? Do you need to outsource or delegate any tasks to help you with your sales efforts?

Are you ready to head on over to that travel agency business plan template you have a love-hate relationship with? Good, because you’re gonna read all about Corona Travels marketing strategy and how they plan on closing the leads they get . . . and maybe you can steal some of Sol’s ideas for your agency. :)

Travel Agency Business Plan, Part 5: Technology

What kind of tech do you need to help your agency get up and running, and what technology will you need to keep your travel agency machine humming? You don’t need everything at once, but you’ll want to have an idea of what you need to reach some travel agency milestones you’re going for.

You might want to consider things like:

• Travel Agency Website
• Read up on different website options for agencies
• Customer Relations Management (CRM):
• ClientBase Online
• Online Scheduling Tools:
• Itinerary Builders:
• Axus Travel App
• IT Explorer
• Payment Processing (for fees)
• Quickbooks Payments (use this link for 50% off first SIX months -- normally it's 3 months)
• TESS (built into CRM)
• Travel Joy (built into CRM)
• WixPayments
• Bookkeeping and Accounting
• Google Sheets ( part of Google Workspace )
• Mac Numbers
• Quickbooks Online / Quicken (use this link for 50% off first SIX months -- normally it's 3 months)
• Quickbooks Online (use this link for 50% off first SIX months -- normally it's 3 months)
• Booking tools
• Google Workspace : We have an exclusive 10% off promo code for Google Workspace! Just fill out the form and we'll send you the code.
• Office equipment
• Fax: FaxZero
• Scanner: Scanner Pro ($3.99 in Apple App Store)
• Scanner: Tiny Scanner (Google Play Store)
• Business Card Scanner: CamCard (Free on Apple App Store | .99 on Google Play Store )
• Forms / E-signatures*
• JotForm (free plan allows e-signatures)
• RightSignature
• Email Automation
• Sendinblue (that's what we currently use, and I highly recommend it!)
• Active Campaign
• Constant Contact
• Online Meetings / Video Conferencing
• Google Meet (part of Google Workspace )
• Secure Password Manager (also known as The Handiest Thing Ever )
• Mileage Tracking
• MileIQ (Free but if you ever decided to upgrade, use this link for 10% off paid plans)

Just because it’s technology, it doesn’t mean it has to be state of the art or über fancy. You can pick and choose where you want to allocate your financial resources on tech: I’ve spoken with several travel agents who swear by a combination of sticky notes, physical calendars, and Excel spreadsheets.

Think about which of these technologies you really need. If you go with a host agency or consortium, which of these technologies do they provide? Looking forward as your business grows, which technologies do you anticipate you’ll want to phase in?

Choosing those technologies was fun, wasn’t it? But now we need to iron out how you’re going to run the agency. So let’s move into the next section of your travel agency’s business plan template and make sure you’re running a tight ship!

Travel Agency Business Plan, Part 6: Operations

Developing a plan for travel agency operations will help you understand how to ensure your business runs smoothly, in addition to understanding the capacity of your travel agency. For this section of your travel agency business plan you’ll want to consider:

• What is your sales volume compared to your sales capacity? How much travel can you actually sell in the time you want to spend working to sell travel?
• Who are your preferred suppliers? Who are your host or consortium’s, preferred suppliers? How do these suppliers (and your host) disburse commissions and on what timeline? How does this impact your bookkeeping and workflow?
• If you are booking groups, plan ahead. Are there any special cruise sailings or new ships you want to block space for? Is a resort opening a new property that you’re excited about and might be in high demand? Is there a new exciting product coming up that you want to get ahead of?
• In order to find out about some of these opportunities, what travel publications do you want/ need to subscribe to? (*Ahem* Make sure HAR is one of them!!) How are you utilizing your host or consortium resources to stay ahead?

OMG. OMG!!! That’s right, keep that grin plastered on your face because we’re entering the final leg. You did it!

Travel Agency Business Plan, Part 7: Administrative Support

As a business owner, there will be a lot of external organizational support as you go. First, we’ll focus on financial logistics. What are the business names (or contacts) and addresses of some of your administrative support? This may include:

• Your bank/ banker
• Accountant and/or Bookkeeper
• Host agency or consortium
• Legal counsel/ lawyer

Congratulations. You Have a Travel Agency Business Plan!

Seriously, that was INTENSE. Give yourself a huge pat on the back. Creating a business plan for your travel agency ain’t for the faint of heart, but you did it.

Go ahead and tell us about your process. Was our free travel agency business plan template helpful? Did it help to think things through and write a business plan for your agency? Was it a waste of time? Most importantly, what kind of office pet do you have and what sort of moral support do they provide?

Comment below!

*Editor's Note: This article was originally published on April 16th, 2019. We updated it on the publish date listed on the article!

About the Author

Mary Stein has been working as a writer and editor for Host Agency Reviews since 2016. She loves supporting travel advisors on their entrepreneurial journey and is inspired by their passion, tenacity, and creativity. Mary is also a mom, dog lover, fiction writer, hiker, and a Great British Bake Off superfan.

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How To Write a Travel Agent Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for travel agency businesses who want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every travel agency business owner should include in their business plan.

Download the Ultimate Business Plan Template

What is a Travel Agency Business Plan?

A travel agency business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Travel Agency Business Plan?

A travel agency business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Travel Agency Business Plan

The following are the key components of a successful travel agency business plan.

Executive Summary

The executive summary of a travel agency business plan is a one to two-page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your travel agency
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your travel agency, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your travel agency firm, mention this.

You will also include information about your chosen travel agency business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a travel agency business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the travel agency industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now and, if applicable, how do these trends support the success of your company?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, and interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, a travel agency’s customers may include individuals, families, or corporate clients.

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or travel agency services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors?

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or you may promote your travel agency via word of mouth or PR.

Operations Plan

This part of your travel agency business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a travel agency include reaching $X in sales. Other examples include adding new products/services, hiring new employees, and so on.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific travel agency industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss

Sample Income Statement for a Startup Travel Agency

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Travel Agency

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup travel agency.

Sample Cash Flow Statement for a Startup Travel Agency

You will also want to include an appendix section which will include:

• Your complete financial projections.
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.).
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your travel agency. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it. This will give you a much better chance at success than going into business blindly.

While it may seem like a daunting task, if you take it step-by-step and include all of the necessary information, you will be well on your way to having a successful travel agency.  

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Travel Agency Business Plan Template & Guidebook

Whether you are looking to start a travel agency from the ground up or simply update your current business plan, the #1 Travel Agency Business Plan Template & Guidebook provides a comprehensive resource for entrepreneurs. The intuitive step-by-step guidebook walks through the process of creating and organizing a business plan that will make launching and running a successful travel agency easier than ever before. With expert tips, financial analysis templates, and more, this Travel Agency Business Plan Template & Guidebook provides all the tools necessary to create the perfect business plan.

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• How to Start a Profitable Travel Agency Business [11 Steps]
• 10+ Best & Profitable Travel Agency Business Ideas [2023]

How to Write a Travel Agency Business Plan in 7 Steps:

1. describe the purpose of your travel agency business..

The first step to writing your business plan is to describe the purpose of your travel agency business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a travel agency business:

Our mission at [Travel Agency] is to provide customers with the hassle-free and cost-effective travel experience that best meets their individual needs and exceeds their expectations. We strive to make travel an enjoyable and memorable experience for each and every one of our customers.

2. Products & Services Offered by Your Travel Agency Business.

The next step is to outline your products and services for your travel agency business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your travel agency business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your travel agency business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your travel agency business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

Form an LLC in your state!

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a travel agency business?

To run a Travel Agency business, you will need the following equipment, supplies, and permits:

• Computer and/or laptop with internet access
• Printer/copier/scanner
• Travel Agency Software
• Stationery Supplies (envelopes, notepads, pens, etc.)
• Business cards
• Business License/Permit from your local government
• Travel Accreditation (IATA / CLIA)

5. Management & Organization of Your Travel Agency Business.

The second part of your travel agency business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your travel agency business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Travel Agency Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a travel agency business varies based on many different variables, but below are a few different types of startup costs for a travel agency business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your travel agency business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your travel agency business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your travel agency business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Travel Agency Business Plans:

Why do you need a business plan for a travel agency business.

A business plan for a travel agency is essential for a number of reasons. It will help you to define your objectives and strategies, identify your target market, and assess the potential profitability of your business. It also serves as a roadmap for establishing key relationships with vendors, creating operational structures, and setting budgets. A business plan can also be used to demonstrate your commitment to potential investors or lenders, showing them that you have taken the time to understand the industry and create a realistic plan for success.

Who should you ask for help with your travel agency business plan?

You should ask a professional business consultant or accountant for help with your travel agency business plan. They will be able to provide the knowledge and experience necessary to develop a successful plan that meets your goals and objectives.

Can you write a travel agency business plan yourself?

Yes, it is possible to write a travel agency business plan yourself. Writing a business plan requires in-depth research, a clear understanding of your industry and the ability to articulate your strategies and objectives. This includes creating an executive summary, market analysis, details on the services you offer and a financial forecast. Additionally, you need to clearly define your travel agency’s mission statement and list out any unique features or goals. Once you have researched your industry and developed these key elements of the plan, you may be able to create an effective business plan on your own. However, it may be beneficial to consult with an expert in the field or hire someone to assist in the process.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

Business Plan Template for Travel Enthusiasts

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Are you a travel enthusiast with dreams of starting your own travel business? Look no further than ClickUp's Business Plan Template for Travel Enthusiasts! This comprehensive template is perfect for travel agencies or individuals who want to turn their passion for travel into a successful business venture.

With ClickUp's Business Plan Template for Travel Enthusiasts, you can:

• Outline your business goals and strategies to create a clear roadmap for success
• Identify and target your ideal market of fellow travel enthusiasts who are eager to explore the world
• Develop accurate financial projections to ensure the financial viability of your business
• Create effective marketing plans to attract clients and stand out in the competitive travel industry

Don't let your dreams of starting a travel business remain a distant fantasy. Get started with ClickUp's Business Plan Template for Travel Enthusiasts and turn your passion into a thriving business today!

Business Plan Template for Travel Enthusiasts Benefits

Starting a travel business can be an exciting venture, especially for travel enthusiasts. With ClickUp's Business Plan Template for Travel Enthusiasts, you can enjoy a streamlined process that helps you outline your goals, strategies, and marketing plans. Here are some of the benefits you'll experience:

• Clearly define your target market and understand their needs and preferences
• Develop a solid business strategy and roadmap for success in the travel industry
• Create accurate financial projections to secure funding and make informed decisions
• Build a compelling marketing plan to attract clients who share your passion for travel
• Save time and effort with a pre-designed template, allowing you to focus on what you love: exploring the world.

Main Elements of Travel Enthusiasts Business Plan Template

If you're a travel enthusiast looking to start your own travel business, ClickUp's Business Plan Template for Travel Enthusiasts has got you covered. Here are the main elements of this template:

• Custom Statuses: Track the progress of your business plan with statuses like Complete, In Progress, Needs Revision, and To Do.
• Custom Fields: Use custom fields such as Reference, Approved, and Section to add important details and organize your business plan effectively.
• Custom Views: Access different views like Topics, Status, Timeline, Business Plan, and Getting Started Guide to get a comprehensive overview of your business plan and stay on track with your goals.
• Collaboration Tools: Collaborate with your team and stakeholders by utilizing features like task assignments, comments, and notifications to ensure everyone is aligned on the business plan.
• Document Management: Use ClickUp's Docs feature to create and store your business plan documents within the template for easy access and version control.

How To Use Business Plan Template for Travel Enthusiasts

If you're a travel enthusiast with dreams of starting your own business in the travel industry, using the Business Plan Template in ClickUp can help you turn your passion into a reality. Here are six steps to effectively use the template:

1. Define your niche

Before diving into your business plan, it's important to define your niche within the travel industry. Are you targeting adventure travelers, luxury vacationers, budget-conscious backpackers, or a specific region? Identifying your niche will help you tailor your business plan to meet the specific needs and desires of your target audience.

Use custom fields in ClickUp to categorize and define your target market and niche.

2. Conduct market research

To create a successful business plan, you need a deep understanding of the current market conditions and trends within the travel industry. Conduct thorough market research to identify your competition, analyze customer preferences, and determine potential opportunities and challenges.

Use Docs in ClickUp to compile your market research findings and create a comprehensive overview.

3. Develop your products and services

Based on your market research, determine the products and services you will offer to travelers. Will you provide guided tours, travel planning services, unique accommodations, or a combination? Clearly define your offerings and outline their unique selling points to differentiate yourself from competitors.

Use tasks in ClickUp to brainstorm and outline your travel products and services.

4. Create a marketing strategy

A strong marketing strategy is crucial for attracting customers and growing your travel business. Identify the most effective channels to reach your target audience, such as social media, travel blogs, or partnerships with travel agencies. Develop a plan to promote your business and build brand awareness.

Use the Calendar view in ClickUp to schedule and manage your marketing activities.

5. Financial planning and forecasting

Creating a detailed financial plan is essential for the success of your travel business. Determine your startup costs, projected revenue, and expenses, including marketing, operations, and overhead. Use this information to create financial projections and determine when your business will become profitable.

Use the Table view in ClickUp to organize and track your financial data and projections.

6. Monitor and adjust your business plan

Once your business plan is complete, it's important to regularly monitor your progress and make adjustments as needed. Keep track of key performance indicators (KPIs) and metrics to assess the effectiveness of your strategies. Continuously refine and adapt your business plan to ensure long-term success.

Use Dashboards in ClickUp to visualize and track your KPIs and monitor the overall performance of your travel business.

By following these steps and using the Business Plan Template in ClickUp, you'll be well on your way to launching a successful travel business that caters to the needs of fellow travel enthusiasts.

Get Started with ClickUp’s Business Plan Template for Travel Enthusiasts

Travel enthusiasts looking to start their own travel businesses can use the ClickUp Business Plan Template to outline their goals, strategies, target market, financial projections, and marketing plans to establish a successful travel business and attract clients who share their passion for travel.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a comprehensive business plan:

• Use the Topics View to organize your business plan by different sections such as Executive Summary, Market Analysis, Marketing Strategy, Financial Projections, etc.
• The Status View will help you track the progress of each section of your business plan, allowing you to easily identify what's complete, in progress, needs revision, or still to do.
• The Timeline View will give you a visual representation of your business plan's deadlines and milestones, ensuring you stay on track.
• The Business Plan View will provide you with a holistic view of your entire business plan, allowing you to easily navigate through different sections and make updates.
• The Getting Started Guide View will provide you with step-by-step instructions and tips on how to use the template effectively.
• Use the custom field "Reference" to add links or documents that support your business plan.
• Utilize the custom field "Approved" to keep track of sections that have been reviewed and approved.
• The custom field "Section" allows you to categorize each section of your business plan for easy organization and filtering.

With the ClickUp Business Plan Template, you can create a comprehensive and professional business plan that will set you on the path to success in the travel industry.

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Here is a free business plan sample for a travel agency.

Have you ever envisioned launching your own travel agency but feel overwhelmed about where to start? You've landed in the perfect spot.

In the following paragraphs, we will guide you through a comprehensive sample business plan tailored for a travel agency.

As an aspiring entrepreneur, you're likely aware that a meticulously developed business plan is crucial for achieving success. It serves as a roadmap, outlining your vision, objectives, and strategies for your venture.

To craft an effective plan swiftly and with ease, you can utilize our travel agency business plan template. Additionally, our specialists are on hand to provide a free review and refinement of your plan.

How to draft a great business plan for your travel agency?

A good business plan for a travel agency must reflect the unique aspects of the travel industry.

To start, it is crucial to provide a comprehensive overview of the travel market. This includes up-to-date statistics and identifying emerging trends in travel, as illustrated in our travel agency business plan template .

Your business plan should then articulate your vision clearly. Define your target market (such as adventure travelers, luxury vacationers, corporate clients, or budget backpackers), and establish your travel agency's unique value proposition (specialized tours, personalized itineraries, eco-friendly travel, etc.).

Market analysis is the next important section. This requires a thorough understanding of the competitive landscape, travel trends, and consumer behavior.

For a travel agency, it is essential to detail the services you plan to offer. Describe your range of travel products - package tours, custom itineraries, travel insurance, booking services - and explain how they cater to the preferences and requirements of your target customers.

The operational plan is also vital. It should outline the location of your agency, the structure of your customer service and booking system, partnerships with travel providers, and the logistics of trip planning.

For a travel agency, it is important to highlight your expertise in destination knowledge, customer service excellence, and the ability to handle travel disruptions.

Then, delve into your marketing and sales strategy. How will you attract and retain clients? Consider promotional tactics, customer loyalty programs, and cross-selling opportunities (such as travel insurance or add-on excursions).

Embracing digital strategies, like maintaining a robust website or an active social media presence, is also critical in the digital age.

The financial plan is another crucial component. This should include your startup costs, revenue projections, operating expenses, and the point at which you will break even.

In a travel agency, margins can vary widely depending on the type of service, so precise financial planning and a solid understanding of your profit centers are essential. For assistance, refer to our financial forecast for a travel agency .

Compared to other business plans, a travel agency's plan must pay special attention to global travel trends, currency fluctuations, and the impact of international events on travel.

A well-crafted business plan will not only help you clarify your strategy and vision but also attract investors or secure loans.

Lenders and investors are looking for comprehensive market research, realistic financial projections, and a clear operational strategy for managing a travel agency.

By presenting a thorough and substantiated plan, you showcase your professionalism and dedication to the success of your travel agency.

To achieve these goals while saving time, you can complete our travel agency business plan template .

A free example of business plan for a travel agency

Here, we will provide a concise and illustrative example of a business plan for a specific project.

This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.

To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.

All these elements have been thoroughly included by our experts in the business plan template they have designed for a travel agency .

Here, we will follow the same structure as in our business plan template.

Market Opportunity

Market data and figures.

The travel industry is a dynamic and lucrative sector with significant growth potential.

Before the pandemic, the global travel and tourism market was valued at approximately 9.25 trillion U.S. dollars. While the industry faced a downturn due to COVID-19, it is expected to recover and grow in the coming years, driven by pent-up demand and increased consumer confidence.

In the United States alone, the travel and tourism industry contributes substantially to the economy, with millions of international and domestic travelers spending billions annually.

These figures underscore the travel industry's resilience and its critical role in global economic development.

The travel industry is experiencing a transformation, with current trends shaping the future of how people explore the world.

Sustainable travel is becoming increasingly important, with travelers seeking eco-friendly options and destinations that prioritize conservation and community impact.

Personalization and unique experiences are also in high demand, as travelers look for tailor-made itineraries and off-the-beaten-path adventures.

Technology plays a pivotal role, with virtual reality previews, mobile booking, and AI-powered personal assistants enhancing the travel experience.

Health and wellness tourism is on the rise, with destinations offering retreats and activities focused on physical and mental well-being.

Lastly, the demand for flexible booking options and comprehensive travel insurance has grown, as travelers seek security in uncertain times.

These trends highlight the evolving preferences of modern travelers and the need for travel agencies to adapt and innovate.

Success Factors

The success of a travel agency hinges on several critical factors.

Exceptional customer service is paramount, as personalized attention and expert advice can differentiate an agency in a crowded market.

Offering a diverse range of high-quality travel packages and services that cater to various preferences and budgets is also essential.

A strong online presence, with an intuitive booking platform and engaging content, can attract and retain customers in the digital age.

Strategic partnerships with reputable service providers, such as hotels and airlines, can enhance the value proposition and provide competitive pricing.

Lastly, the ability to adapt to industry changes and embrace new trends, such as sustainable travel and wellness tourism, is crucial for long-term success.

The Project

Project presentation.

Our travel agency project is designed to cater to the needs of modern travelers who seek unique and personalized travel experiences. Situated in a convenient location with a strong online presence, our agency will specialize in crafting tailor-made itineraries for individuals, families, and groups. We will focus on providing exceptional travel packages that include gluten-free dining options, ensuring that travelers with dietary restrictions can enjoy their journeys without compromise.

We aim to offer a seamless travel experience, from the planning stage to the return home, with an emphasis on customer satisfaction and attention to detail.

Our travel agency is set to become a go-to resource for those who value health-conscious travel options, as well as for adventurers looking to explore the world with the assurance of their dietary needs being met.

Value Proposition

The value proposition of our travel agency is centered around delivering personalized and health-conscious travel experiences. We understand the challenges faced by travelers with dietary restrictions and are dedicated to providing gluten-free solutions as part of our travel packages.

Our commitment to customization, combined with our expertise in identifying gluten-free friendly accommodations and restaurants, offers peace of mind and an enjoyable travel experience to our clients.

We are dedicated to creating travel itineraries that not only meet the dietary needs of our customers but also enrich their lives through cultural immersion and adventure.

Our agency strives to be a leader in the niche market of health-conscious travel, offering innovative solutions and educational resources that empower our clients to travel freely and safely.

Project Owner

The project owner is a seasoned travel professional with a passion for exploring the world and a deep understanding of the challenges faced by travelers with dietary restrictions.

With years of experience in the travel industry and a personal commitment to healthy living, the owner is well-equipped to guide the agency in providing top-notch, gluten-free travel experiences.

Driven by a vision to make travel accessible and enjoyable for all, regardless of dietary needs, the owner is dedicated to building a travel agency that stands out for its personalized service, health-conscious options, and commitment to customer satisfaction.

With a blend of industry knowledge and a personal touch, the project owner is the driving force behind this innovative travel agency, aiming to transform the way people with dietary restrictions experience the world.

The Market Study

Market segments.

The market segments for this travel agency are diverse and cater to various customer needs.

First, there are adventure seekers looking for unique and off-the-beaten-path travel experiences, who value personalized itineraries.

Next, there are luxury travelers who desire premium, all-inclusive vacation packages with high-end accommodations and exclusive services.

The market also includes budget-conscious travelers who seek affordable yet memorable trips, often in groups or as solo travelers.

Finally, corporate clients represent a significant segment, requiring professional travel arrangements for business trips, conferences, and team-building retreats.

SWOT Analysis

A SWOT analysis of this travel agency project highlights several key factors.

Strengths include a knowledgeable team with expertise in travel planning, strong partnerships with service providers, and a commitment to customer satisfaction.

Weaknesses might involve the volatility of the travel industry, dependency on economic factors, and the challenge of maintaining competitive pricing.

Opportunities can be found in the growing trend of experiential travel, the potential for digital marketing to reach a global audience, and the ability to offer niche travel packages.

Threats include unpredictable global events affecting travel, such as pandemics or political instability, and the intense competition from online travel agencies and direct booking platforms.

Competitor Analysis

Competitor analysis in the travel agency sector indicates a highly competitive landscape.

Direct competitors include other local and online travel agencies, as well as larger travel companies with extensive marketing budgets.

These competitors strive to capture the attention of various traveler demographics by offering deals, loyalty programs, and comprehensive travel services.

Potential competitive advantages for our agency include personalized customer service, unique travel packages, expertise in niche markets, and strong relationships with reputable service providers.

Understanding the strengths and weaknesses of competitors is crucial for crafting strategies that emphasize our unique selling propositions and foster customer loyalty.

Competitive Advantages

Our travel agency's competitive edge lies in our personalized approach to crafting travel experiences that resonate with individual client preferences.

We offer tailored travel solutions, from adventure tours to luxury getaways, ensuring that each trip is a perfect fit for our clients' desires and budgets.

Our dedication to customer service excellence allows us to build lasting relationships with our clients, securing repeat business and referrals.

We also pride ourselves on our insider knowledge of destinations, which enables us to provide exclusive experiences not readily available through other channels.

You can also read our articles about: - how to start a travel agency: a complete guide - the customer segments of a travel agency - the competition study for a travel agency

The Strategy

Development plan.

Our three-year development plan for the travel agency is designed to cater to the evolving needs of modern travelers.

In the first year, we will concentrate on building a robust online presence and developing personalized travel packages that cater to niche markets, including eco-tourism and adventure travel.

The second year will focus on establishing partnerships with airlines, hotels, and tour operators to offer exclusive deals and expanding our service offerings to include corporate and group travel.

In the third year, we aim to enhance our customer service with the introduction of a mobile app for itinerary management and real-time travel assistance, as well as exploring the possibility of opening branch offices in key cities.

Throughout this period, we will remain dedicated to providing exceptional travel experiences, maintaining strong customer relationships, and staying ahead of industry trends.

Business Model Canvas

The Business Model Canvas for our travel agency targets a diverse range of customers, from solo travelers and families to corporate clients and adventure seekers.

Our value proposition is centered on delivering tailor-made travel experiences, exceptional customer service, and competitive pricing.

We offer our services through a user-friendly online platform, complemented by personalized consultation from our travel experts.

Key activities include travel planning, booking management, and customer support.

Our revenue streams are generated from service fees, commission from partners, and premium travel package sales, while our costs are associated with marketing, technology infrastructure, and staff salaries.

Find a complete and editable real Business Model Canvas in our business plan template .

Marketing Strategy

Our marketing strategy is built on creating memorable travel experiences and establishing a reputation for reliability and customer satisfaction.

We plan to engage with our target audience through storytelling and sharing travel success stories across various digital platforms.

Partnerships with travel influencers and the use of targeted advertising will help us reach a wider audience.

We will also offer loyalty programs and referral incentives to encourage repeat business and word-of-mouth recommendations.

Lastly, attending travel expos and networking events will allow us to build industry relationships and stay connected with market trends.

Risk Policy

Our risk policy focuses on mitigating risks associated with travel disruptions, customer satisfaction, and industry volatility.

We will offer flexible booking options and comprehensive travel insurance to protect our clients against unforeseen events.

Regular training for staff on the latest travel advisories and safety protocols will ensure informed and safe travel planning.

Prudent financial management and maintaining a diversified portfolio of travel products will help us navigate economic fluctuations.

We will also secure liability insurance to cover any potential travel-related disputes, prioritizing the safety and satisfaction of our clients.

Why Our Project is Viable

We are committed to launching a travel agency that adapts to the dynamic preferences of today's travelers.

With our focus on personalized experiences, customer care, and strategic partnerships, we are poised to capture a significant share of the travel market.

We are enthusiastic about making travel planning seamless and enjoyable, contributing to memorable journeys for our clients while growing a successful business.

We are flexible in our approach and ready to adapt to the ever-changing travel landscape, looking forward to a bright future in the travel industry.

You can also read our articles about: - the Business Model Canvas of a travel agency - the marketing strategy for a travel agency

The Financial Plan

Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.

All these elements are available in our business plan template for a travel agency and our financial plan for a travel agency .

Initial expenses for our travel agency include securing a prime location for our office, investing in robust travel booking software, creating an engaging website for online reservations, obtaining the necessary licenses and insurance, training staff on various travel destinations and customer service excellence, as well as costs related to brand creation and launching targeted marketing campaigns to reach our ideal clientele.

Our revenue assumptions are based on a thorough analysis of the travel market, considering trends in tourism, consumer vacation spending habits, and the unique value proposition of our personalized travel planning services.

We anticipate progressively increasing sales, starting modestly and growing as the reputation of our travel agency strengthens and our customer base expands.

The projected income statement indicates expected revenues from our travel booking commissions, service fees, and customized travel packages, minus the costs of operations (staff wages, office rent, marketing, utilities, etc.).

This results in a forecasted net profit essential for assessing the long-term viability of our travel agency.

The projected balance sheet reflects assets specific to our business, such as office equipment, software, and prepaid travel inventory, and liabilities including debts and anticipated operational expenses.

It shows the overall financial health of our travel agency at the end of each fiscal period.

Our projected cash flow budget details incoming and outgoing cash flows, allowing us to anticipate our financial needs at any given time. This will enable us to manage our finances effectively and maintain a healthy cash reserve.

The projected financing plan lists the specific financing sources we plan to use to cover our startup expenses, such as business loans, investor capital, or personal savings.

The working capital requirement for our travel agency will be closely monitored to ensure we have the necessary funds to finance our daily operations, including marketing efforts, office expenses, and staff salaries.

The break-even point specific to our project is the level of sales needed to cover all our costs, including startup expenses, and begin generating a profit.

It will indicate when our business is expected to become financially sustainable.

Performance indicators we will track include the profit margin on our travel packages, the customer satisfaction rate to gauge service quality, the liquidity ratio to assess our ability to cover short-term obligations, and the return on investment to measure the efficiency of our capital invested in the agency.

These indicators will help us evaluate the financial health and overall success of our travel agency.

If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for a travel agency .

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Travel agency business plan template + PDF

This guide introduces a specialized AI Business Plan Generator template, meticulously crafted for entrepreneurs aiming to start or develop their travel agency business. Please note that the names and financial data in this example are entirely fictitious, employed just to demonstrate the planning process. These scenarios are thoughtfully constructed to show how you can customize your own AI-generated Travel Agency Business Plan, tailoring it to the specific demands of your travel agency venture.

To facilitate easy customization, we provide a 'Travel Agency Business Plan PDF' for download. This document is a crucial resource for entrepreneurs intent on devising a powerful and successful strategy for either initiating or expanding their travel agency. The 'AI Business Plan Generator' serves as a comprehensive guide, offering profound insights into the travel agency industry. It supplies you with the critical tools needed for efficiently running and growing your travel agency business.

Travel agency business plan

How this travel agency business plan sample was created.

Effortlessly develop a tailored business plan for your travel agency with our AI Business Plan Generator. Simply click 'Generate your business plan' and respond to a series of straightforward questions about your travel agency venture. Our cutting-edge AI technology will interpret your answers to create a business plan that precisely matches your travel agency's objectives and needs. This process is quick and efficient, typically taking just 5-10 minutes, and results in a thorough, well-organized plan. Our platform allows you to adjust and fine-tune the plan, ensuring it perfectly aligns with your distinct vision. Once finalized, your plan is ready for download, providing a clear, detailed guide for starting and growing your travel agency. Leverage our AI business plan generator, specifically designed for travel agency businesses, to streamline your strategic planning.

Generate your custom travel agency business plan in minutes!

Travel agency business plan sample, executive summary, business description, market research and analysis, swot analysis.

• Organizational Structure and Management Team

Products or Services

Marketing and sales strategy, operations plan, financial projections, risk analysis.

DreamScape Travel Agency is a dedicated travel company catering to the luxury and adventure travel needs of middle to upper-class adults aged between 25 and 60. The Agency takes pride in offering individualized, convenient and comprehensive travel planning services which include flight bookings, hotel reservations, curated sightseeing and adventure packages, and robust travel insurance packages. Our unique value proposition lies in our personalized service, competitive pricing and unrivaled commitment to customer satisfaction.

DreamScape operates as a hierarchical organization under the expert supervision of CEO Jack Patterson, a veteran with over two decades of experience in the travel industry. Our well-structured management team also includes Olivia Edwards, CFO, holding an MBA and 15 years of financial management experience, Thomas Perez, Chief Marketing Officer with a PhD and 12 years in the field, Carly Evans, the General Manager, armed with a degree in hospitality management and 10 years of experience, and Megan Smith, Director of Operations, holding a decade-long experience in travel agency operations.

Our main competitors in the market are Wanderlust Travel Agency, Gateway GlobeTrotters, Fantasia Voyages, Adventure Awaits Travel, and Journey Joy Travel Agency. Despite their presence in the market, we believe our unique infusion of personalized service and diverse packages, coupled with aggressive marketing and committed customer service will ensure we carve our own niche in the robust travel industry.

Our marketing and sales strategy will leverage digital platforms for reaching out to our target market. This includes robust online advertising, engaging social media campaigns, informative email newsletters, and participation at local events. Sales will be conducted through our user-friendly website, telephone bookings, and our conveniently located branches in major cities.

Operational efficiency is at the heart of our business model, with our offices operating six days a week from 9 am to 6 pm. Our versatile team comprises of 10 travel consultants, 2 marketing staff and 1 diligent accountant. The daily operations revolve around consultation, meticulous planning, streamlined booking, promoting irresistible travel packages and attending to customer queries.

Financial success is our definite goal, with ambitious projections set for the next five years. We aim to achieve a turnover of $450,000 in Year 1, and progressively increase it to $1,300,000 by Year 5.

We are acutely aware of the potential risks in this industry and have robust mitigation and contingency plans for each. These include proactive planning for economic downturns through lobbying for affordable travel options and diversification of our travel packages. We also plan to offer insurance for holidays and provide flexible rebooking options to combat the risk from natural disasters and pandemics. Fierce competition prompts us to continually innovate and persistently offer superior customer service, while technology failures will be addressed by maintaining a technically sound IT team.

We are confident of our growth, backed by our business acumen, and look forward to creating an indelible mark in the realm of travel planning and service.

Travel agency business plan pdf

Business Name: DreamScape Travel Agency Location: New York, USA

DreamScape Travel Agency is a licensed and registered travel agency based in the vibrant city of New York. The agency was established in 2005 to provide clients with tailored, high-quality travel solutions, including flight bookings, accommodation reservations, tour package creation, and travel insurance arrangements. The business operates in the growing industry of travel and tourism, specifically focusing on luxury travel and adventure tourism sectors.

Over the past 16 years, DreamScape has evolved from a small start-up to a well-respected and successful travel agency with a stellar reputation. The agency was created with the purpose of filling the gap in the market for tailored, personalized travel services. Its aim was to provide a seamless and unique travel experience that takes care of all planning and logistics, leaving the customer free to enjoy their trip fully.

Our mission is to provide our customers with exceptional travel experiences, excellent service, and expansive travel opportunities while maintaining a commitment to our core values of integrity, quality, and innovation.

DreamScape operates as a corporation under the ownership and leadership of our CEO, Mr. Jack Patterson. As a corporation, DreamScape benefits from financial advantages such as limited liability, tax benefits, and an increased capacity to raise capital.

Our business has significant long-term potential. The travel and tourism industry may be affected by economic downturns or global events, but it is characterized by resilience, bouncing back after periods of decline. Despite current challenges, the long-term outlook for the industry remains positive, with expected global growth as people continue to place high value on travel experiences. DreamScape is poised to capitalize on this growth given our high degree of customer loyalty and satisfaction and our strong relationships with industry partners.

In terms of future plans, DreamScape aims to expand the range of services we offer and expand geographically to cater to customers in new regions. Strategies to achieve these goals include boosting our online presence, leveraging partnerships with hotels and airlines, and developing innovative new packages that cater to emerging trends in travel. We firmly believe that with our strong foundational roots and strategic planning, we will continue to rise as a strong player in the travel and tourism industry.

Entering the travel industry, we find ourselves amidst incredible diversity and competition. The industry, based on various estimates and reports, currently racks up global earnings of around 700 billion U.S dollars and shows a steady growth rate of approximately 4.4% annually. Secular trends point to an increasing desire for more unique, personalized, and adventurous yet luxurious travel experiences. This particularly appeals to our target market, middle to upper-class adults aged 25-60.

The global travel agency market size circulates around $116 billion, and it's expected to grow at a CAGR of around 4% until 2027, predominantly driven by the escalating desire for both domestic and international travel experiences. In the U.S alone, there's a potential target market of roughly 150 million people matching our demographic focus.

Concerning the industry's needs and demands, our market research suggests that customers are increasingly looking for packages that offer unique life experiences, rather than traditional sightseeing. These include cultural interactions, culinary adventures, eco-tours, wellness retreats, and adrenaline-fuelled activities. Additionally, consumers demand easy digital access for planning and booking these services.

On scanning the existing competition, namely Wanderlust Travel Agency, Gateway Globetrotters, Fantasia Voyages, Adventure Awaits Travel, and Journey Joy Travel Agency, a few key highlights emerge. Wanderlust and Gateway Globetrotters have a more extensive market share due to their long-standing presence and credibility. Fantasia Voyages taps into the niche of magical experiences, while Adventure Awaits caters to adrenaline junkies specifically. Journey Joy Travel Agency's strength comes from its strong digital presence.

However, most of them lack a distinctive combination of luxury and adventure which we aim to offer. Moreover, their weaknesses range from sub-par website experiences to less emphasis on personalized services.

Prevalent barriers for us entering the market could include stiff competition, the time-consuming process of acquiring a trustworthy reputation, and an immense requirement of building robust relationships with key hospitality industry players. However, we believe that our competitive pricing aligned with personalized and hassle-free travel experiences can help us navigate these obstacles.

In conclusion, through diligent market analysis and strategic positioning, DreamScape Travel Agency has the potential to penetrate and thrive in the travel agency market, fulfilling the growing needs of experience-centric, luxurious, and adventurous travel planning.

Travel agency business plan template

Organizational structure and management.

The organizational structure of DreamScape Travel Agency is essentially a well-defined hierarchy to ensure smooth and efficient operations. The CEO, Jack Patterson, leads the company with years of extensive experience and knowledge in the travel industry. Directly reporting to him are three Regional Managers, each overseeing ten Branch Managers who supervise a group of Travel Consultants. These consultants are in charge of customer service and booking travel for clients.

CEO Jack Patterson, with 20 years of experience, has guided the company through the ranks of the competitive travel market. He is well versed in leading strategic initiatives, enforcing an efficient operational structure, and nurturing relationships with global partners.

Reporting to Patterson is our CFO, Olivia Edwards. With an MBA and 15 years of experience in finance, she guides economic strategy, capital allocation, risk management, and financial planning.

Thomas Perez, Chief Marketing Officer, holds a PhD in marketing and a decade of experience. His role includes leading our strategic marketing vision, digital initiatives, and customer acquisition and retention.

Carly Evans, the General Manager, comes from a strong hospitality background. Carly's role involves maintaining the superior quality of services and cultivating a client-oriented culture within the organization.

Our Director of Operations, Megan Smith, has ten years of experience in the travel industry. She's responsible for overseeing daily business activities, improving overall business functions, managing budgets, enhancing efficiency, and driving business growth.

The next critical aspect of our organization is staffing requirements. We have projected a stair-step growth in our headcount over our first five years, growing from an initial 15 members to 47 by the end of the fifth year. This includes travel consultants, marketing personnel, financial advisors, operations personnel, and human resources.

Human Resources at DreamScape is responsible for talent acquisition, orientation, and training, cultural development, conflict resolution, compliance with legal and ethical standards, and employee engagement programs.

Occasionally, the agency outsources specialized tasks to external consultants. We maintain relationships with a pool of consultants consisting of marketing experts, IT experts, HR trainers, and legal advisors.

DreamScape's success is a fruit of its structured organization, exceptional team, and effective management. We provide an encouraging, career-boosting environment to help every individual grow and ensure that our clients receive premium, stress-free travel solutions.

Business plan for a travel agency

DreamScape Travel Agency is in the business of creating unparalleled travel experiences. To achieve this, we offer a wide range of services, including but not limited to flight bookings, hotel reservations, transportation, sightseeing packages, and travel insurance. The services are offered both standalone and bundled, depending on the preferences and needs of the client.

What separates our travel planning services from our competitors is our commitment to personalization and luxury. Our expert travel consultants meticulously plan each detail to create uniquely tailored luxury and adventure travel experiences.

Currently, the company is in the phase of expanding its services both in range and quality. We're continuously sourcing new travel destinations, maintaining close relationships with global partners, and training our staff to effectively deal with emerging challenges in the ever-evolving travel industry.

Furthermore, DreamScape Travel Agency is the proud holder of various intellectual property rights. We have a registered trademark on our company name and logo. Aside from that, our custom-developed travel packages and luxury travel experiences are protected by copyright law.

Our production process is centralized around our travel consultants. Once a client contacts us with their travel needs, a dedicated travel consultant evaluates their requests, provides suggestions to enhance their travel experience, and constructs a personalized travel package. Once the client approves, the consultant coordinates with suppliers, books the required services, and keeps the client updated throughout the process. After-sales service is also an essential part of the operation where clients are requested to provide feedback that helps align our services with their expectations even better.

Suppliers greatly influence the travel industry. As such, DreamScape maintains relations with a broad network of suppliers, including airlines, hotels, car rentals, and local tour operators, among others, both domestically and internationally. They have been carefully selected based on the quality of services they provide, their ability to meet client needs, and their willingness to form long-term beneficial relationships. To give our clients the best experiences, we always strive to work with suppliers who share our commitment to quality, reliability, and customer satisfaction.

Overall, DreamScape Travel Agency is excited about the future. We plan to continue evolving, expanding, and improving our services to ensure we are providing our clients with the very best in luxury and adventure travel experiences.

The financial plan outlines the monetary resources and financial development of DreamScape Travel Agency. Over the next 5 years, we plan to firmly establish our business in the industry and increase our market share. Our financial plan includes projections for growth, detailing income, cash flow, and break-even analysis.

Year 1 will see an initial investment used primarily for marketing campaigns, developing partnerships, and improving infrastructure. We project a first-year revenue of $450,000. Although this is relatively modest, it is a necessary building block for what's to come.

We expect considerable growth in Year 2 with projected revenue of $600,000. The increase will come primarily from greatly expanding our customer base using highly targeted marketing tactics in addition to repeat business. During Year 2, we'll continue to refine our services and enhance customer satisfaction.

Year 3 will continue the upward trajectory in our revenues, with a target of $800,000. We'll also diversify our service offerings, opening new income streams to complement our core travel agency service.

The growth trend continues upwards in Year 4, with a revenue target of $1,000,000. This will be driven by both new sales and repeat business brought about by continuous customer service improvements.

By Year 5, we aim to conclusively pass the $1,000,000 mark in revenues, targeting $1,300,000. We will achieve this by continuing to diversify our offerings, improving operational efficiency, and growing our customer base, made possible by maintaining high customer retention rates.

The DreamScape business model is inherently scalable, which allows for high levels of growth with minimum additional overhead. We believe that this financial plan is both highly achievable and also relative conservative as we secure our place in the travel agency market.

DreamScape Travel Agency will reevaluate these projections annually to account for the ever-changing travel market fluctuations and trends. Our financial plan seeks to carry us towards a strong growth path that will help us secure a strong position in the travel industry.

Travelling agency business plan

The Operations Plan for DreamScape Travel Agency outlines our daily processes, including production, delivery of services, quality control, inventory management, and supply chain, to provide the best experience for our customers while maintaining efficiency and profitability.

The daily operations involve tasks carried out by our staff: travel consultations and advisories, development of custom travel packages, bookings and reservations for transportation and accommodations, promotional activities for various packages, handling customer queries, and so on.

On the production front, our Travel Consultants are responsible for planning and designing travel packages based on needs and preferences expressed by the clients. We also leverage our close relationships with global partners and vendors to deliver diverse and unique travel experiences.

Customer service is crucial to our operation, so we have established rigorous quality control measures. Service reviews and customer feedback are continually monitored to identify bottlenecks and make necessary improvements. Training and development programs for staff ensure we maintain a high level of service and meet travel industry standards at all times.

Managing our inventory, which includes various travel packages, hotel bookings, and airline seats, involves maintaining a balance between demand and supply. It’s done by consistently monitoring fluctuations in travel trends, ensuring we have enough popular offerings available, and updating the inventory in real state.

Supply chain management for a travel agency means managing relationships with various service providers, such as airlines, hotels, local transport providers, and tour operators. We ensure that we partner with reliable providers who offer high-quality service and share our commitment to customer satisfaction.

Physical facilities include our main office that houses administrative staff and several branches where our travel consultants are based. The offices have been designed keeping in mind the comfort of our staff as well as walk-in customers. Equipment needs mainly comprise of latest computer systems, reliable internet access, and state-of-the-art telecommunications system for efficient communication.

We ensure that our facilities and equipment are up-to-date to enable smooth operation, facilitate communication between various departments, and support top-grade service delivery. With a professionally executed Operations Plan, we aim to establish effective and optimal procedures in all areas of our business.

DreamScape Travel Agency projects a significant increase in sales over the next five years due to an aggressive marketing strategy and an increase in the scope of services. We estimate sales of $450,000 during the first year, with a year-over-year increase by at least 20%. By the fifth year, we project sales to reach approximately $1,300,000.

Our profit and loss projection shows a net loss of around 5% in the first year due to initial investment in marketing, operations, and staff training. However, as sales rise and operations mature, we expect to become profitable by the second year, with net profit margins around 8%. This would indicate a profit of $48,000 in year two, rising progressively to reach an estimated profit of $104,000 by the fifth year.

Our cash flow projection factored in all incoming revenue from sales and outgoing expenses, including COGS, administrative costs, salaries, and marketing expenses. After meeting all these obligations, we anticipate positive net cash flow from the second year onward.

The balance sheet projection sees our assets - equipment, accounts receivable, and cash, increase with the growing business. Simultaneously, liabilities, comprising of accounts payable, loan repayments, and salaries, are expected to be effectively managed and ultimately reduce, owing to an enhanced cash flow situation.

The break-even analysis indicates that DreamScape needs approximately 75 clients per month to cover our fixed and variable costs, based on an average package price of $500. This indicates we need to reach out to a vast pool of our targeted population and convert at least 3% into clients.

Assumptions underlying these projections include a steadily growing economy, stable vendor relationships, successful marketing strategy, and an increase in the population's propensity to travel.

While these projections provide a solid starting guide and set a target for our business, DreamScape understands the importance of monitoring actual progress against these estimates and adjusting the business model accordingly.

How to create a business plan for a travel agency

At DreamScape Travel Agency, we understand that business has inherent risks, and we have identified potential roadblocks that may come our way. We have also developed strategies to mitigate these risks and contingency plans to ensure our business remains robust and resilient in any scenario.

Market Risks: A significant slump in the travel industry, driven by factors like international crises or economic recessions, could seriously impact our business. To mitigate this risk, we plan to diversify our portfolio to include local or budget-friendly packages that would be appealing even in an economic downturn.

Operational Risks: Service disruptions, including problems with bookings or negotiations with suppliers and partners, can compromise our customer experience. To combat this, we maintain strong relationships with multiple reliable partners and continually monitor the quality of our services.

Financial Risks: Unexpected costs or diminished sales could potentially cause financial strain. We maintain tight control over our expenses, and our conservative financial projections leave room for unexpected costs. Regular financial audit and control are in place to monitor sales performance and budget maintenance.

Competition Risks: The travel industry is fiercely competitive, and new players may arrive with innovative offerings. To guard against this, we aim to continually innovate our services and maintain superior customer service, which would heighten our reputation and improve customer loyalty.

Technology Risks: Failures in our IT systems can result in service disruptions or security breaches. Regular system audits, backup systems, and an in-house IT team can ensure we are ahead of any technology-related problems.

Legal Risks: Changes in laws or regulations could impact how we operate. To mitigate this, we utilize legal advice to stay aware of relevant local and international laws and adjust our operations as needed.

Insurance: Aside from traditional business insurance, we also heavily consider liability insurance to maintain a safeguard against possible claims resulting from accidents, injuries, or negligence that can happen during a trip organized through our agency.

Above all, we believe that going into each venture and project prepared and with our eyes wide open to the inherent risks involved helps us better navigate and strategize. As such, regular risk evaluation and revision of mitigation strategies are a part of our operational mandate.

Travel agency financial plan

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Travel agency business plan template

Download this business plan template for a travel agency in PDF or Word format, or tailor it to your project directly in our business plan software.

Discover our travel agency business plan template

Our travel agency business plan template gives you the structure to write a professional plan.

Not accustomed to writing business plans? Our travel agency business template will turn a typically challenging process into a total breeze.

Modelled on a complete business plan of an travel agency in Trouville sur Mer, our template features both the financial forecast and the written part that presents the project, its team, the local market and the business strategy implemented by the management.

Cast your eyes on this template to achieve a better understanding of what your bank and investors would like to see, so that you can create a business plan that meets their expectations.

7 day free trial. No credit card required. Travel agency business plan template available with paid plans only.

How to use this travel agency business plan template

Edit the travel agency business plan template online, or download it.

There are 3 ways to use this template:

• Edit it online: you can adapt this template to your business idea by changing the text or the financial forecast directly in our business planning software
• Download in PDF: if you're just after a little inspiration, you can download the travel agency business plan template in PDF to read over it
• Download in Word format: want to edit your plan on Word? Simply export the travel agency business plan template to Ms Word (.docx) format

Travel agency business plan template content

This template includes a complete travel agency business plan example, with a financial forecast and the following sections:

• Executive summary: the executive summary gives the reader a clear and concise overview of your business idea
• Company: this section lays out the structure of your business, including its location, management team and legal form
• Products and services: here, you'll give an overview of the services offered by your travel agency (excursions, business trips and international trips)
• Market analysis: the market analysis is where you’ll demonstrate that there is a strong demand for your travel agency through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.)
• Strategy: this section highlights your travel agency's game plan when it comes to pricing, marketing and mitigating risks along the way
• Operations: this step lays out your travel agency's operational organisation, including the recruitment plan
• Financial plan: the financial plan includes a table of sources & uses (initial funding plan), and complete financial statements (P&L, balance sheet and cash flow statement).
• Appendices: this part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.).

Executive summary for a travel agency business plan

The executive summary gives the reader a clear and concise overview of your business idea.

Our travel agency's executive summary is formed of the following subsections:

• Business overview: in this subsection, we outline who the travel agency founders are, what legal form they've chosen for the business, and the rationale behind the choice of their location
• Market overview: in this subsection, we summarize the conclusions of the market analysis performed by the travel agency's owners and explain what age groups they aim to target (our travel agency business plan template targets locals, tourists passing through Deauville-Trouville as well as small and medium-sized businesses in lower Normandy and Paris)
• Financial highlights: in this subsection, we give an overview of the forecasted financial performance of the travel agency over the first 3 years of operation
• Our ask: in this subsection, we outline the amount of financing required to start the travel agency and how it's going to be funded (the founders are seeking a bank loan to start their travel agency)

Company overview included in our travel agency business plan sample

This section lays out the structure of your business, including its location, management team and legal form.

Our travel agency business plan template's company section is formed of the following subsections:

• Structure & Ownership: in this subsection, we outline who the travel agency's shareholders are and what legal form they've chosen for the business
• Location: in this subsection, we present the area surrounding the location chosen for the business and the layout and main features of the premises
• Management Team: in this subsection, we give an overview of the background of each of the travel agency's founders, explain how they met and why they decided to start a company together

Products and services offered by the travel agency

The products and services section is where you will state the different services that your travel agency will offer (trips abroad, excursions and business trips).

In our travel agency business plan template products and services section, we cover:

• Excursions in Normandy: a choice of short trips including both the D-Day beaches tour and cider distillery tour
• International trips: departure from either Deauville or Caen
• Custom-made business trips: a selection of seminars and team-building events in Normandy

Market analysis for the opening of the travel agency

The market analysis is where you’ll demonstrate that there is a strong demand for your products and services through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.)

Our travel agency business plan example's market analysis section is formed of the following subsections:

• Demographics and Segmentation: in this subsection, we explore the market in depth. We look at the supply and demand sides both at the national and local level, analyse the hot trends perceived by the founders, and the key statistics that will help the founders build their positioning
• Target market: in this subsection, our founders explain who they view as their ideal customer (our travel agency business plan template targets locals, tourists passing through Deauville-Trouville as well as small and medium-sized business in Lower Normandy and Paris)
• Competition: in this subsection, we take a look at the direct (independent or franchise travel agencies nearby) and indirect (travel agencies and tour operators online) local competition to ensure we have a differentiated positioning and that the market is large enough to accommodate the arrival of a new travel agency
• Regulation: in this subsection, we give an overview of the main regulation applicable to our travel agency

Setting the strategy for our travel agency

This section highlights the company's game plan when it comes to pricing, marketing and mitigating risks along the way.

Our travel agency business plan template strategy section is formed of the following subsections:

• Pricing: in this subsection, we explain how service rates are decided (our travel agency earns a 13% base rate commission through selling trips for network partners such as Tourcom) and the rationale behind our choice
• Marketing plan: in this subsection, we explain what action we'll put in place to build awareness and loyalty among our travel agency customers
• Milestones: in this subsection, we give an overview of the main goals we set for ourselves for the next 3 years
• Risks and Mittigants: in this subsection, we perform an assessment of the medium and long-term risks that could jeopardize the financial viability of our travel agency and outline how we intend to mitigate them

Operations section of the travel agency business plan template

This part lays out the company's operational organisation, including the recruitment plan.

Our travel agent business plan operations section is formed of the following subsections:

• Personnel plan: in this subsection, we explain what our opening hours will be and explain the responsibilities of each of staff member in our travel agency
• Key assets and IP: in this subsection, we list the assets and intellectual property rights which are critical to our business operations and explain how we will secure and protect each of these
• Suppliers: in this subsection, we give an overview of the main suppliers we will use our what commercial terms have been negotiated with them

Financial plan included in our travel agency business plan template

This section presents the expected financial performance of the travel agency over the next 3 years.

Our travel agency business plan example's financial plan is formed of the following subsections:

• Start-up funding: in this subsection, we list the cost of each item required to launch the travel agency
• Important assumptions: in this subsection, we explain the methodology and the main assumptions used to build the travel agency's financial forecast
• Sales forecast: in this subsection, we detail the expected revenues and growth rate for our travel agency in the coming years
• Cost structure: in this subsection, we list all the expenses required for our travel agency to operate smoothly
• Projected Profit & Loss statement: in this subsection, we analyse our forecasted P&L and comment on the expected profitability of our travel agency over the next 3 years
• Projected cash flow statement: in this subsection, we analyse the expected cash generation of the travel agency
• Projected balance sheet: in this section we give an analysis of the liquidity and solvability implied from our balance sheet

Appendices of the travel agency business plan template

This part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.).

Our travel agency business plan template's appendices include:

• A maturity profile chart showing the principal repayments of their loans over the next 3 years
• A monthly cash flow forecast: showing how much cash is being generated or consumed each month over the first 3 years of operations

Travel agency business plan template sample

Executive summary, business overview.

Bersara Travel Agents will be a travel agency based in the heart of Trouville sur Mer, close to the tourist office.

Our primary aim is to help tourists experience the very best Normandy has to offer.

We will offer customers:

• Excursions within Normandy
• International trips from Deauville or Caen
• Business trips and seminars

Bersara Travel Agents is a limited liability company managed by its two partners - Mrs Sarah F and Mr Bernard T.

Market Overview

National Market

Key figures from the French travel industry

Tourism was France's leading industry in 2014 - comprising 7.4% of the economy's total GDP.

Whilst the French travel market was dynamic at the time, it was also on the cusp of change.

In 2013, 8,122 travel agencies generated a combined turnover of €13.7bn (8.6% of the industry's total turnover).

It's estimated that French residents booked 15.4% of their trips through travel agencies or tour operators (including online bookings) in 2014. The market share of travel agencies reached 39.5% of all overseas trips booked by the French.

Local Market

With over 4 million trips made each year, Calvados is the 8th most visited region in France.

Calvados' main areas of attraction include:

• The 1944 landing sites and corresponding Battle of Normandy tours
• Sites linked to the history of William the Conqueror
• Local produce (visits to cider distilleries and cheese factories)
• Leisure activities (seaside activities, sailing, horse riding, tennis and golf)

The Coeur Côte Fleurie collection of villages, of which Trouville Sur Mer is included, has a year-round population of 20,582. This figure is, on average, six to eight times higher in the summer.

The Trouville Sur Mer tourist office, located near the agency's premises, welcomes an estimated 20,000 people in July.

Business tourism is also very prevalent within Coeur Côte Fleurie, thanks to the Centre International de Deauville (CID). The convention centre is occupied 300 days a year, hosting 150 events and accommodating 200,000 visitors.

Financial Highlights

We expect our travel agency to be profitable from year 3.

We anticipate that our turnover will increase from €488,025 in year 1 to €789,000 in year 3. The gross margin is expected to remain stable (12%) throughout.

We expect to generate an EBITDA of €-31,222 in year 1, €-13,995 in year 2 and €5,110 in year 3.

Despite the company's loss-making situation in the first two years, the business should be sufficiently capitalised to enable us to meet our loan repayments while retaining sufficient headroom to deal with unforeseen circumstances.

Bersara Travel Agents has a negative working capital requirement, which should give our startup further leeway during the first two years.

Bersara Travel Agents will require an initial investment of €55,000.

Our partners will contribute €50,000 (€25,000 in share capital and €25,000 in directors loan) i.e. 91% of the amount. We would like to obtain a bank loan of €5,000 to complete the financing.

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Travel agency business plan template faq.

A travel agency business plan is a written document that sets out the commercial, operational and financial objectives of the company over the next 3 to 5 years.

It consists of two main parts:

• A written part that presents, in detail, your travel agency business, the team, your strategy, and your medium-term objectives.
• A financial forecast that highlights the expected profitability of the travel agency and the initial funding requirements.

The lack of business planning is one of the main reasons why more than 50% of startups fail within 5 years. If you're starting a travel agency, writing a business plan is a must-have in order to reduce the risk of failure of your project.

Business plans are also required by most lenders and investors in order to secure financing, therefore a business plan is also highly recommended if you're seeking a loan or equity investment for your travel agency.

Writing a travel agency business plan without The Business Plan Shop can be both error-prone and time-consuming - whether you're new to entrepreneurship or experienced:

• You'll need to research the structure of a business plan, what to include in each section, and what key elements investors and lenders expect to see
• You may encounter writer's block (especially if it's the first time you're writing a business plan for your travel agency)
• You'll need to create a financial forecast on a spreadsheet which requires a solid understanding of accounting and financial modelling in order to be done without error
• You'll need to spend hours formatting financial data on Excel or Sheets before it's ready to integrate into your business plan
• Any updates to your travel agency business plan or financial forecast will need to be done manually

Luckily for you, The Business Plan Shop's online platform and travel agency business plan template guide you through every stage of writing a business plan, so that you can spend more time managing and growing your business instead.

Our editor follows a best-in-class structure for professional business plans. Each section and subsection includes examples and instructions to help you, while our business plan templates provide further inspiration if you're stuck.

Our financial forecasting software helps you create a forecast and integrate it into your business plan with ease. Anytime you update your data, your business plan automatically updates.

And with our forecasting software all the calculations are done for you, without errors.

The budget to start and run a travel agency will depend on the exact concept and location.

If you're starting an online travel agency, your costs are likely to be much lower than if you are going to use a physical location. This is because you will save on rent and overheads amongst other expenses.

If your travel agency is located in the city centre or on any busy high street, you're likely to incur much higher expenses than if you are on the outskirts of a town or city.

A stylish website, that's well designed (professionally), will likely increase your startup costs, in comparison to a simple, yet workable website.

As an example, in our travel agency business plan template the total initial funding requirement amounted to €55,000 (c. $59,000 or £47,400), with the founders contributing €50,000 (c. $53,500 or £43,000).

In order to assess the exact budget for your travel agency idea, you need to do a financial forecast using a financial projection tool such as the one we offer .

The package we offer at The Business Plan Shop goes way beyond a simple blank template you need to fill. With our platform you get:

• Access to one of the best business plan software on the market
• Access to our travel agency business plan template which contains a complete example of a written business plan and financial forecast to start a travel agency
• Access to our entire business plan templates library - giving you dozens of examples to take inspiration from
• Access to our financial planning and analysis platform so that you can track the actual performance of your business against what you had planned in your business plan and re-plan easily

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Some features are limited during the free trial, the main limits are:

• You can only create one business plan
• The financials of the first year are visible, but data for other years are hidden
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Travel Agency Business Plan Template [Updated 2024]

Travel Agency Business Plan Template

If you want to start a Travel Agency business or expand your current Travel Agency, you need a business plan.

The following Travel Agency business plan template gives you the key elements to include in a winning Travel Agency business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections a business plan for a travel agency: I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

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Travel Agency Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

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A travel agency business plan is a fundamental component in the inception and smooth progression of the enterprise. A hotel business plan , written either in word, excel or pdf by yourself or with the help of a business plan planner, refers to a detailed documentation of operations and plan samples pointing out how a firm with the intention of venturing into business will achieve its short and long term objectives.

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Travel Agency - Upscale Business Plan

Start your own travel agency - upscale business plan

Panache Travel Group

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

Panache Travel Group (PTG) is a company which specializes in small, escorted luxury tour packages for discriminating clients. It will operate from two bases to better serve customers across the country: one in Salt Lake City, Utah; the other in New York, New York. The founders and employees of Panache Travel Group are experienced travelers and travel professionals who are knowledgeable, capable and passionate about the services Panache Travel Group will promote and offer.

Within the growing travel industry, PTG will focus on the niche market of luxury travel. Its primary clients are individuals, couples and affinity groups of high-net-worth who travel for leisure at least once per year. Seeking the ultimate travel experience, the target clients demand the finest quality activities and accommodations accompanied by a superior level of service. PTG will have a competitive advantage over others in this market by providing smaller, more exclusive package tours enabling the clients of these intimate groups to receive personal attention from the travel hosts. PTG will cultivate this niche with one-to-one contact with potential clients; personal contact with sophisticated travel agencies whose primary clientele targets our market; broad out-reach programs through various media; special events; and an inter-active, full-service website. We have all aspects of travel technology available to us through Panache Services. The founders and personnel of PTG have experience of their own with travel, luxury retailing, personal services to high-net-worth individuals, history of travel destinations and local languages.

To broaden market share and increase brand recognition, the luxury tour packages initially will be offered at slightly below market rate. As a result, short-term operating profit margins are projected to be in low to mid range. When PTG has established a loyal core clientele and increased brand recognition, allowing the company to increase the price of the tour packages to the market rate, operating profit margin is anticipated to rise.

1.1 Objectives

1. Achieve hefty sales in Year 1, followed by astounding increases in Year 2 and Year 3, with corresponding increases in profitability.

2. Develop the Panache Travel Group brand to facilitate customer retention, maintain mind-share of Panache resellers and increase pricing power.

3. Establish and maintain strategic alliances with service providers nationally, internationally, and with travel professionals to create additional PTG sales channels.

4. Produce the highest levels of client satisfaction in the industry.

1.2 Mission

The mission of Panache Travel Group is to provide unique, luxury tours and travel experiences, for a niche market of discriminating clients, which results in their satisfaction, evidenced by repeat bookings as well as favorable word-of-mouth comments. PTG seeks to distinguish itself as a specialist in the field of luxury travel and to be recognized for offering exceptional service and anticipating the needs and desires of its clients. An efficiently run operation, handled by smart individuals, will enable not only those who receive service, but those who give it, to enjoy the experience and the product, and for everyone to be pleased with the professional, first-class service of PTG.

1.3 Keys to Success

• Segment and target luxury travelers within the larger travel market.
• Position and promote Panache Travel Group as specialists in the luxury travel segment of the travel industry.
• Communicate the unique aspects and quality of PTG offerings through personal interaction, media and other branding activities.
• Develop repeat business from a base of loyal, satisfied customers.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

Panache Travel Group (PTG) will be the parent company of Panache Journeys and Panache Services.

• Panache Journeys is a luxury tour company which specializes in providing the ultimate in fully-arranged, small, private tours (escorted).
• Panache Services is a general, full-services travel provider able to meet the basic needs of both the corporate as well as the leisure travel markets. These services include arranging air, land transportation, cruise and hotel bookings, as well as consulting and custom travel arrangements. Panache Services specializes in FITs, or Free and Independent Tours (unescorted).

2.1 Company Ownership

Panache Travel Group will form as a private, Limited Liability Corporation (LLC) organized in the State of Utah by its principal founders (see below). Alternative legal corporate structures may be used once principal investors have been located and investment funding has been secured. Company stock will be apportioned as follows:

• George Raymond 25%;
• Dominque Pascal 15%;
• Alica Marques 15%
• 25% Investor(s) ownership.
• 20% Future employees’ pool ownership.

2.2 Start-up Summary

The initial start-up capital requirement for Panache Travel Group will be used to:

• Purchase the assets and liabilities of Panache European Journeys and Barkley Roberts Travel.
• Finance start-up costs and payroll expenses for the first 12-months of operation, i.e.
• Legal fees related to new filings in the state of Utah.
• Expenses related to rent, office supplies, insurance, utilities, etc.
• Salaries for key managers and personnel.
• Miscellaneous costs involved in formulation and execution of strategic plan.

Initial venture capital or individual investment, to be obtained by mid-Year 1.

2.3 Company Locations and Facilities

Panache Travel Group has two locations from which it will conduct business:

• The main office address is 129 Market Street, Suite 600, Salt Lake City, Utah 84103. This is a commercial building that can accommodate walk-in customers.
• The East Coast office address is 150 Broadway, Suite 1200, New York, New York 10019.

The offices in both locations are fully-equipped and staffed.

The mission of Panache Travel Group is service and luxury for discerning travelers. An observation well-known in the travel and hospitality industry is that achieving a reputation for excellence relies on word of mouth. We want the Panache brand to be synonymous with service and luxury. When the conversation turns to travel, we want our clients to say, “ I travel with Panache! ”

For the current year, 2001, Panache Journeys has planned and described twelve escorted tours:

• French Portfolio (French Riviera/ Provence)
• Historic France (Paris/ Loire Valley/ Normandy)
• Cosmopolitan Europe (Amsterdam/ Paris/ London)
• Timeless Italy (Italian Riviera/ Tuscany)
• Italian Glory (Rome/ Florence/ Venice)
• Portuguese Discovery (Estoril Coast/ Lisbon/ Algarve)
• Escape to Morocco (Fez/ Casablanca/ Marrakesh)
• Alpine Luxury (Austria/ Germany)
• Heart of Europe (Germany/ Czech Republic/ Austria)
• Orient Express (Venice/ Paris/ London)
• Panache Explorer-Burma
• Panache Explorer-Iran

To handle the myriad details involved, we will rely on the technology afforded by Panache Services, the World Wide Web and the focused attention of our founders and staff who will make all plans and arrangements.

3.1 Service Description

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Well-known luxury hotels engaged for these journeys include, to name just a few: The Splendido, in Portofino; The Carlton, in Cannes; The Ritz in London; and The Gritti Palace in Venice. Arrangements for notable dining experiences of equal caliber have been made in Michelin two-and-three-star restaurants.

Local subject experts have been engaged to impart their invaluable knowledge and perspective to our clients. For example, the services of Professore Marco di Navo, native Venetian, author of Venice , retired professor of art history, University of Padova, and a former head of the Venetian Tour Guide association have been reserved to give everyone new eyes with which to see the glories of Venice.

Of equal importance to everything mentioned above are the Panache hosts who accompany each Journey. Each is excellent and is prepared to give the utmost personal attention to clients on the road. Each host has a broad background of knowledge, experience and the all-important quality of a sense of humor. Each host understands the luxury field is unique unto itself; each client is unique, and the care, feeding and transporting of this demanding clientele requires him to be ever-ready to serve.

The goal of everyone at Panache Journeys is not only to meet the travel needs of its clients: it is to anticipate them. We want our service to be exceptional, not simply friendly. Panache Services provides complementary travel services for Panache Journeys clients, as well as corporate and general leisure travelers. In addition, unescorted FITs, or Free and Independent Tours, are happily arranged for clients for whom a Panache Journey is not quite right.

3.2 Competitive Comparison

Panache Journeys has addressed these issues by positioning itself as a luxury travel company , offering exceptionally small groups (none larger than ten) and delivering an exceptionally high level of service. It understands that these aspects are highly valued, cannot be discounted, reduced or otherwise cheapened. Panache Journeys has not identified a direct competitor in this particular niche of the luxury travel market when aspects of service, group size, quality of accommodations and quantity of personal attention are included. Other luxury tour operators will be discussed under a separate topic in the market analysis and analyzed with a comparison of strengths and weaknesses.

3.3 Sales Literature

A handsome, full-color brochure describes the Panache Journeys, which includes prices and terms. They were printed by The Printing of Salt Lake City and will be mailed to potential customers upon request. Additional brochures will be used in direct mail campaigns and as sales promotional material. Panache Travel Group will maintain, and regularly add to, its database of previous customers/contacts/potential clients information. Notes, additions and revisions will be made on a continuous basis. The website of PTG at www.panachetravelgroup.com gives information about Panache, its hosts, journeys offered with dates, prices, terms and booking information. An e-mail address is given for a Panache Journeys representative to respond to inquiries from prospective travelers. The site is adequate for the 2001 season, but will be thoroughly redesigned and developed for the 2002 season. Money has been allocated in the 2002 marketing budget for this project by an expert, outside firm.

3.4 Fulfillment

The key fulfillment and delivery will be provided by the acquisition of both Panache European Journeys and Barkley Roberts Travel. The core value of these companies is professional expertise, achieved through the combination of travel experience, hard work and educational background.

Panache European Journeys established relationships with providers of travel-related products and services. Extensive market research enabled them to identify and create working relationships with numerous service providers around the world. Panache European Journeys identified opportunities to capture markets with great growth potential. They continually sought and evaluated new sources. Panache European Journeys took advantage of trade shows, travel industry personnel and publications and other sources of industry-related information as it monitored the quality of its offering. They have a history of three successful years providing tours, virtually identical, to those which will be offered by Panache Travel Group.

Barkley Roberts Travel is a full service travel agency. It is a member of the Airline Reporting Corporation (ARC), International Airlines Travel Agent Network (IATAN), Association of Travel Agencies (ASTA), along with many other groups and trade associations. It is also a member of www.vacation.com that is one of the largest consortium for obtaining additional commission and discounts prices on airline, hotel room, rental car and cruise line bookings. In addition, Barkley Roberts Travel has a large client base of both corporate and leisure clients, many of whom travelled with Panache European Journeys. Barkley Roberts Travel is staffed with two full-time certified travel professionals.

The bi-coastal offices staffed with the knowledgeable founders and personnel of PTG will facilitate attracting clients both to and within the luxury travel market though one-on-one meetings with potential clients, personal contact with sophisticated travel agencies which target up-scale consumers, and broad out-reach programs including travel conferences and media and special events.

3.5 Technology

Panache Travel Group will rely on the Computerized Reservation System (CRS) of Barkley Roberts Travel. Barkley Roberts Travel is currently under contract to WorldSpan, a leader in the CRS world. The CRS enables travel agents to identify what the customer is looking for and to make that information available quickly. It increases the speed and efficiency with which PTG can communicate with suppliers. In addition, the CRS simplifies customer data storage and retrieval. PTG will make use of the latest computer technology and the Internet for market research, communications, data storage and sales. PTG will also create working agreements with other travel agencies in the Salt Lake City and New York areas that will enhance its technological abilities and its financial profitability.

3.6 Future Services

Panache Travel Group will increase the geographical areas of the world in which it offers tours. In addition, as the luxury travel market expands, PTG may develop business in additional segments of the luxury travel market, i.e. tours with an architectural, music festival, golf or local festival emphasis. PTG is researching the market to identify potential opportunities for future sales. The long-term goal of PTG is to establish itself as an internationally recognized provider of top-of-the-line luxury travel. This goal does not prohibit PTG from participating in additional areas of the travel industry. It does, however, provide a corporate focus and a differentiated offering.

Market Analysis Summary how to do a market analysis for your business plan.">

Panache Travel Group will focus its initial efforts in obtaining clients in the United States interested in the luxury travel market. Travel and tourism is the nation’s largest services export industry. U.S. resident travelers spent $81.4 billion on travel to foreign countries in 1999. The travel & tourism industry is expected to account for 5.1% of the U.S. Gross Domestic Production (GNP) in 2000. The World Economic Forecast Association (WEFA) forecasts travel & tourism to grow by 4.1% a year between 2000 and 2005 in terms of real spending.

4.1 Market Segmentation

The target customers of Panache Travel Group are couples and individuals, with median household incomes in excess of $100,000 between the ages of 40-70 years of age. These people are interested in adventure, history, gastronomy, travel culture and unique travel experiences. Target groups are as follows:

• Householders with incomes of $100,000 and over.
• Travel agents and professionals with an established client base, particularly in the luxury market.
• Corporations, civic groups and nonprofit organizations, interested in incentives, retreats, field trips and fund raisers.
• Internet users seeking sites related to luxury travel.

4.2 Target Market Segment Strategy

Panache Travel Group is located in Salt Lake City and the New York City area. It will target and develop relationships with satisfied clients who have traveled with the PTG with the idea of capitalizing on their satisfaction by encouraging favorable word-of-mouth comments to their friends and acquaintances. It will place a great emphasis on targeting key travel agents/professionals, i.e. Virtuosi agents, who have established, luxury client bases. Luxury trade shows, informational meetings, and contact of clients from elite agencies will also be used to identify markets and clients.

4.2.1 Market Growth

The travel industry is growing. Reasons for this growth include a healthy domestic economy and the devaluation of currency in other parts of the world which has made travel less expensive for U.S. residents. Leisure travel has increased each year since 1990 and luxury travel, which is growing at an estimate 5% annually, is one of the fastest growing segments of the travel industry. Additionally, there has been a dramatic increase in corporate participation in the luxury travel market in the form of incentives and retreats.

4.2.2 Market Needs

Many potential customers have questions related to numerous aspects of foreign travel. Experience travelers and travel professionals have invaluable knowledge about destinations, accommodations, prices and the myriad questions that arise. General customers look to the travel professional to provide them with sound advice on these matters.

However, luxury travelers look to and depend on the travel professional to an even greater extent for an even greater number of things. Simply stated, they want someone to help them with everything: “Please take care of it all!” Panache Travel Group is confident in its ability to do just that. PTG saves the client time and money through their knowledge and travel experience, and ensures that clients are worry-free and completely satisfied.

4.3 Service Business Analysis

The U.S. travel and tourism industry is the nation’s third largest retail industry, and according to the U.S. Department of Commerce, indicators suggest it will be the leading industry in 2001. Revenues from travel have increased approximately 100% in the last decade. U.S. travel agencies produce over $100 billion in revenues each year.

The travel market is separated into two categories: business and leisure. Each contributes about 45% to total revenues. The remaining 10% of the revenue is generated from combined business/leisure trips. The market is further separated into domestic and international travel. Leisure travelers are classified according to the type of trip taken, income and/or age.

The leisure travelers are divided into the following groups (not being mutually exclusive):

• Those focused on adventure, special-interest, rest and relaxation, honeymoons and/or sightseeing.
• High-income.
• Budget-conscious.
• Families, students, groups with mutual affinity and seniors.

Lifestyle, age, and disposable income influence the decision to travel and the type of travel. Luxury travelers make purchase decisions based upon their desire to combine many interests with vacation time. Panache Travel Group will emphasize high-income travelers particularly interested in special-interest, rest and relaxation, honeymoons and sightseeing trips who may be families, groups with a mutual interest and/or seniors. When combined they form a very significant, lucrative market from which to draw potential clients.

4.3.1 Competition and Buying Patterns

There are many activities and types of travel available to people contemplating a luxury vacation. Moreover, potential customers do not have to vacation: they may elect to spend the discretionary portion of their budget in any number of ways, or invest the money they would otherwise have spent on a vacation.

However, if they are disposed to a luxury vacation, direct competition for Panache Services can come from virtually any agency. That being said, however, these same agencies can be direct sales agents of Panache Journeys. They are valued and are to be sought out. The average luxury traveler engages in one grand travel vacation every twelve months.

4.3.2 Main Competitors

As mentioned above there are competitors for Panache Services, but the market of potential clients is truly vast. On the other hand, Panache Journeys has found a very nice niche with limited direct competition.

Several luxury tour companies compete directly with Panache Journeys for the luxury travel dollar. Three competitors are listed below with their strengths and weakness:

• Abercrombie & Kent: Based in Oak Brook, Illinois, is the most well-known and largest luxury tour company in the world. They have been providing luxury travel packages for over 40 years. They have the advantage of an established reputation, economies of scale, and strategic alliances. However, their packages are over-priced, and their group size is larger than 24 people per trip as opposed to 10, the maximum for Panache Journeys.
• Travacoa: Based in Newport Beach, California, is the second leading luxury tour operator in the United States. Again they have advantages of size and length of operation. However, their tours lack imagination, have large group size, 24, and we have been told by our clients who have experienced both Travacoa and Abercrombie & Kent, that Panache Journeys was by far their best traveling experience. They cited hotels, meals, group size, and guides among their reasons for preferring the Panache Journeys traveling experience.
• Butterfield & Robinson: Based in Toronto, Canada, is an excellent travel company specializing in walking and biking tours throughout the world. They offer a superior product to an up-scale clientele. We, quite frankly, have adapted some of their business practices. But our target group does not want to walk from place to place.

4.3.3 Business Participants

The travel industry is similar to other industries inasmuch as it has large national chains, small home-based businesses, consolidators on the Internet, etc. Membership numbers in some of the travel-related associations give some indication of the number of participants in this market. The American Society of Travel Agents (ASTA) reports 25,000 members in 135 countries, most of whom are small businesses. The Association of Retail Travel Agencies (ARTA) has another 3,000 members. In addition, many agencies are not affiliated with these associations but rather with one or more of the approximately 35 other travel industry organizations in the country.

Strategy and Implementation Summary

In order to reach its goal of becoming one of the premiere luxury tour operators and travel planners, Panache Travel Group will adopt the following strategy:

• Establish the reputation of PTG as a differentiated, specialty provider of luxury travel. This will be accomplished through a diverse marketing communications program directed at the target market of PTG utilizing various media.
• Provide unparalleled service to clients in order to gain repeat business and referrals. This will include providing superior service in all phases of the Panache experience, including timely follow-through.
• Aggressively promote the Panache brand of luxury travel and, in particular, small group travel through Panache Journeys which will be promoted as “the ultimate in luxurious small group travel.”

5.1 Value Proposition

5.2 competitive edge.

The competitive edge of Panache Travel Group is its focus, passion, experience, and in its superior product with Panache Journeys. PTG provides a differentiated offering with creative management and commitment.

5.3 Sales Strategy

Panache Travel Group will sell the benefits of the services it promotes and the luxury tours it offers. PTG will provide clients with all the arrangements which they can foresee, as well as many they would not have contemplated. Our concern is not to maximize profits on any individual sale, but to satisfy the client. We are confident that doing so will reduce costs and increase profits in the long run. It is less expensive to maintain a relationship than it is to create a new one. At PTG, we believe in the value of the travel we sell and we are confident that we can satisfy the seasoned traveler and the newcomer as well. Sales projections are detailed in the Yearly Sales chart accompanying the Sales Forecast topic and table.

5.3.1 Sales Programs

Sales programs will include sales awards for the highest grossing sales representative and customer service awards for those employees who best exemplify Panache Travel Group’s commitment to clients. On-site sales, telephone sales, on-line sales, off-site sales and third-party sales will all be closely correlated with marketing promotions. Aspects of the sales processes, which may include training, cold-calling, leads, productivity, order-fulfillment, measurable and attainable goal-setting and follow-up efforts, will all be evaluated and clearly described.

5.3.2 Sales Forecast

Detailed projections are located in the sales chart and table below. Panache Travel Group expects sales to double in the first three years of operation. We believe this is a conservative estimate, given the nature of the vast market of potential clients and the market niche of Panache Journeys.

5.4 Marketing Strategy

Panache Travel Group adheres to the theory that the goal of business is to create and keep customers. Its marketing strategy will reflect this goal as it builds its reputation to clients throughout the United States.

5.4.1 Marketing Programs

Direct marketing methods may include the following:

• Advertising Specialties. Items, specifically, cotton T-shirts printed with Panache Journeys & (destination), to be given to Panache Travel Group clients.
• E-Mail Mailings. Regular or infrequent mailings to lists with updated information and special offers.
• Direct Mail. Brochures, newsletters.
• Sampling: Occasionally a discounted journey may be offered as a “trade-in-kind” to a visible and vocal trend-setter who is otherwise unable to afford a Panache Journey. Clear expectations would be established for what we would receive in exchange.

Informal Marketing/Networking. Activities such as joining organizations, public speaking, or attending conferences will be explored. For example, an invitation has been extended to one of the founders of PTG for membership in the “DOM professionals,” club a charitable organization for women engaged in the sale and or promotion of passenger transportation and travel in New York City. Its membership is a who’s who of the industry and is a valuable networking organization.

Customer-Based Marketing may include the following:

• Emphasizing repeat sales by clients who have taken one Panache Journey.
• Exploring add-on sales to increase the total revenue per client through the sale of extra products or services, such as additional, unescorted, trip planned through Panache Services which might follow a Panache Journey or a domestic trip, business or leisure.
• Add-on sales facilitated by links to our website.
• Strategic Partnerships may include cooperative advertising, distribution agreements and bundling.
• Special Offers and Promotions may include increased commissions or limited-time-only offers to PTG representatives or travel agents for seasonal promotions.

5.4.2 Positioning Statement

Our aim is directed at individuals, corporations, civics groups and charitable organizations who wish to participate in luxury travel, and towards travel agents who want to sell the finest small group luxury tours on the market.

5.4.3 Pricing Strategy

Much of the pricing of Panache Travel Group is determined by market standards. It will attempt to maintain modest margins on Panache Services and slightly higher margins on Panache Journeys. PTG will make every effort to maintain a competitive pricing policy and keep the price of Panache Journeys slightly below the price of other luxury tours for the first three years. However, as Panache Journeys builds its reputation as a premier small group luxury tour operator, it expects to earn the ability to charge comparable rates to other luxury tour companies.

5.4.4 Promotion Strategy

The image we are promoting:

“ Panache :

from Late Latin (pinnaculum): small feather; from Old Italian (pennachio): ornamental tuft of feathers, often on a helmet; a tassel; from Middle French (pennache): flamboyantly or stylish confident manner.” —Oxford English Dictionary

This is the meaning of PANACHE, and this is the message we want to promote!

We seek to project our company’s name, and subtleties of its meaning, to the luxury traveler!

The luxury traveler travels with Panache — therefore he/she has panache!

We aim to convey the myriad benefits the luxury client will receive by traveling with Panache!

A Panache client will have an experience evoked by these phrases:

• Top-of-the-line, top-drawer care-free leisure.
• Worry-free and problem-free, all-details-handled without hassle.
• Personally tailored, friendly expert guidance, seamless operations, attention to details.
• Pampered and “spoiled”, luxurious and permeated with stylish confidence.
• Irreplaceable memories, not astronomically priced.

Therefore, we have addressed the Five F’s a customer wants:

Function . Our service meets their concrete needs and desires. Finances . Our prices are somewhat under market-rate. Freedom . We make purchase very convenient, thereby freeing the client’s time and mind. Feelings . We provide a service that makes the clients feel pleased with themselves for their acumen in selecting such a superior product. Future . The service creates great satisfaction. The client’s only longing is for another Journey!

The brochures are sleekly elegant. The logo printed on business cards and stationery is sophisticated and unusual: acid green and black dramatically create attention and the elegance of the Romanesque Panache script is eye-catching. Our sales representatives and Panache hosts are experienced, knowledgeable, cosmopolitan, polished and poised. Our website reinforces these images and messages.

How our image and services will be promoted:

During the first year, Panache Travel Group will continue a relationship begun with the Guild of Ballet West, a professional, nonprofit ballet company located in Salt Lake City, in affiliation with the San Francisco Ballet Company, with a membership of 354. Two journeys will be offered as the grand prize for their annual fund-raising extravaganza given by the Guild in April 28, 2001. This will create buzz and publicity for Panache Journeys, build interest for others to join the prize-winners to travel together, and give back to the community in which PTG is based.

An East-coast based promotion will be participation in the fund-raising auction of educational, public television station WLIW, Channel 21, based on Long Island, New York. The auction will take place June 1-3, 2001. One journey will be auctioned. We will create a 30-second spot with WLIW’s production team. The spot will be aired ten times; print acknowledgement will be made in a Newsday newspaper ad; we’ll receive promotion on WLIW’s auction website and link access to our website; and we have an on-air guest auctioneer opportunity and live interview about Panache Journeys. WLIW has a viewership in New York, New Jersey and Connecticut of more than 1.9 million households weekly and we will be publicized before this vast audience.

PTG will continue calling on travel agencies, in person and by telephone, especially in areas identified as having high levels of income. A select, edited list has been prepared for us by a high-profiled, much-loved and respected, travel professional in New York City. Her stamp-of-approval, gained at the Las Vegas Luxury Travel Expo held in December 2000, has opened many doors. PTG will collaborate with up-scale travel agencies in joint promotions. For example, we will co-sponsor a select mailing in Pittsburgh to high-net-worth individuals who have been identified as interested in luxury travel.

PTG will co-host a kick-off cocktail party with an important agency as they launch their new website. One hundred top local CEO’s, clients of this agency, will be invited.

PTG is working with a Virginia agency and an important museum curator and lecturer to customize an itinerary emphasizing architectural aspects of European cities for interested museum members. PTG may develop an affiliation with the Great Books Program of the University of Chicago, initially in Westchester County, New York. Members have expressed an interest in having PTG tailor travel itineraries highlighting points of specific literary interest. An offer has been made to link our website with that of the Great Books program as well.

PTG will participate in national and regional trade shows. The next one on the calendar is the 2001 Alliance of Westchester Travel Agencies (AWTA) to be held in Tarrytown, New York, April 2, 2001. It draws more than 400 owners, corporate managers and travel agents from Westchester and Rockland counties in New York, Connecticut and other surrounding areas.

Two nationally important trade shows held annually are the Luxury Travel Expo (LTE) in Las Vegas and the Incentive Travel Marketing Expo (ITME) in Chicago. Both are worthwhile. We will attend and exhibit.

Our website will be a very important avenue for reaching prospective clients not reached in other ways. Casually speaking, “It’s a way to put more feet on the street!” It is also an ideal location to introduce tie-in products and services. For example, if we were to believe that a particular Tumi piece of luggage was ideal, we might seek an affiliation with them and create a link on our website. Additionally, if we created a reading list, we might profitably seek a tie-in with one of the on-line book sellers such as Amazon.com.

Another marketing program contemplated is the publication of a chatty newsletter, perhaps distributed quarterly. Its purpose would be to increase customer contact and serve as a vehicle for exemplifying our dedicated, personal attention. We could also highlight new Journeys, interesting travel tidbits, etc., etc. through this means.

Personal selling will also occur utilizing the extended networks of everyone affiliated with Panache Travel Group.

5.5 Strategic Alliances

Strategic alliances for promotions will be developed with travel agents, corporations, civic groups and non-profit organizations. Some of these alliances have been established by Panache Journeys and will continue and be expanded by Panache Travel Group.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

The initial management team depends on the founders of Panache Travel Group and the current employees of Barkley Roberts Travel. George Raymond will act as General Manager. As PTG grows, a board of directors will be formed and additional employees will be added in support, sales, field and marketing.

6.1 Organizational Structure

Panache Travel Group will begin operations with 4 full-time positions and employ independent contractors where necessary for sales and field operations. It will use the service of the certified public accounting firm of Terry Price & Wunderli for payroll, taxes, and accounting. The positions are as follows.

General Manager, LC Partner and President: George Raymond

Marketing Director, LC Partner and Vice President: Dominque Pascal

Travel Director, LC Partner and Vice President: Alica Marques

Office Manager and 2nd Travel Agent: Suzy Brown

6.2 Management Team

General Manager and Development Director

George Raymond, 47, B.A. History, M.A. Comparative Literature, University of California, PhD.Comparative Literature, University of Utah. Seven years as Adjunct Professor of French and Comparative Literature at the University of Utah. A life-long world traveler and sophisticated bon vivant who speaks French fluently and can make himself understood in myriad other languages. So well-traveled there isn’t a silver/gold/platinum metal precious enough to indicate the millions of frequent-flyer air miles he has flown around the world.

Marketing and Sales Director

Dominque Pascal 48, B.S. History, English, Yale University. Twenty-five years of experience with Morgan Stanley & Co., Inc., Junior League of Westchester, and personal family offices of financiers Willam Dupont Jr., and marketing director of Deluxe World Tours. Mother of an 3 adult sons, an accomplished cook and an avid reader, she has lived in New York for over thirty years and led many lives.

Travel Director

Alica Marques, 39. Twenty years experience in the travel business, including two years as managing partner of Barkley Roberts Travel. With extensive travel experience she has first-hand knowledge of many locations. An expert on CRS and other travel-related computer applications, Alica has many contacts in the industry, knowledge of critical daily operations, and speaks Spanish.

Office Manager and Travel Agent

Suzy Brown, 26. Five years experience in travel, including her work as the current office manager of Barkley Roberts Travel. Not only familiar with the CRS system, she is a wizard with TRAMS, a back-office accounting program designed specifically for the travel business.

6.3 Personnel Plan

The personnel plan of Panache Travel Group depicts anticipated head count for the start-up year. The following table provides more detailed information. PTG anticipates the need to increase personnel in the first 2-3 years, but will need to significantly increase independent contractors for sales reps and tour guides, who will be paid on a commission basis.

*Positions marked with an asterisk, in addition to their base salaries, also receive commission from sales and hosting tours. The cost of paying these commissions is built into the cost of the sale.

Financial Plan investor-ready personnel plan .">

The financial plan of Panache Travel Group is detailed in the following sections. Preliminary estimates suggest that PTG will experience rapid growth and will increase in gross margin and sales volume. This is partly due to the vast market, but will be facilitated by increased marketing. Income estimates are based, in part, on anticipated revenues from accounts and clients that are secured by PTG prior to its acquisition of both Barkley Roberts Travel and Panache European Journeys. PTG will need sufficient cash to allow for a possible negative cash flow during start-up. It will also need investment to acquire the assets and liabilities of Barkley Roberts Travel and Panache European Journeys. Thus, the overall financial plan presents a conservative, but realistic, depiction of the financial position of PTG.

7.1 Important Assumptions

Panache Travel Group assumes the following:

• Market growth projections for the travel industry and for luxury travel are accurate.
• National economic conditions, which are favorable to the travel industry, will not experience significant decline in the next three years.
• International conditions will remain favorable for service providers and PTG will be able to maintain those relationships.

7.2 Key Financial Indicators

The following chart indicates key financial indicators for the first three years for Panache Travel Group. Growth is expected in sales and a proportional increase in operating expenses during expansion.

7.3 Projected Profit and Loss

The profit picture of Panache Travel Group improves as operations move into the second year. PTG anticipates improving its profitability dramatically by 2003. The annual estimates are included in the table below.

7.4 Projected Cash Flow

Cash flow projections are critical to our success. The monthly cash flow for 2001 is shown in the illustration, with one bar representing the cash flow per month and the other representing the monthly balance. The annual cash flow figures are included here in the following table.

7.5 Projected Balance Sheet

The balance sheet indicates sustained and planned growth. Net worth improves considerably in years two and three and will provide Panache Travel Group with a strong financial position.

7.6 Business Ratios

The following table shows the projected business ratios. Panache Travel Group expects to maintain healthy ratios for profitability, risk and return. Industry Profile ratios are also shown, based on Standard Industry Classification (SIC) code 4724, Travel Agencies.

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