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Travel Agency Business Plan In Nigeria | Feasibility Study (2019 PDF)

Travel Agency Business Plan In Nigeria | Feasibility Study (2019 PDF / Word)

A lot of Nigerians are now moving into entrepreneurship and travel agency business is among the lucrative businesses that people are moving into. Travel Agency business is one of the fastest growing business venture as people are now discovering how profitable it can be not just in Nigeria but across the globe. More people are looking to get into the business but don’t know how to go about it or how to start and that is where we come in.  This article is going to help you on how to start and go about the travel agency business and how to make the most out of it.

travel agency business planHurry now, GET YOUR Travel Agency Business Plan In Nigeria / Feasibility Study. To place an order, pay N10,000 to

GTBank (Guaranty Trust Bank)
Account Name – Chudi-Oji Chukwuka
Account No – 0044157183

After paying for your Travel Agency Business Plan In Nigeria / Feasibility Study, send your email and payment details to 08060565721.

As we know a lot of people travel by the different means and mode of transportation everyday for various reasons which include travelling for weddings, vacations, work engagements, business meetings, amongst other reasons. Just take a look at the number of flights that leave an airport daily and it will give you an idea about the huge market we are talking about.  Some might not stay up to a day in the place they are travelling to while some might even stay up to years. In the same vein some might just be in need of travelling tickets from the travel agency while some will need the tickets, hotel reservations, means of transport at the destination and a lot of other things that will make their trip as comfortable and enjoyable as possible. The fact is that people do not like thinking about details like that because they consider it stressful so you help out with it and get good money out of it.  Sounds cool right?    But there is an important factor to consider which is that a lot of people have realised how profitable this business is and just like you are thinking about getting into it or have already gotten into it. The bottom line is that you have to sharpen your skills and be fully  ready for business, otherwise you will be swallowed by the competition.
Just like in any business you have to know what you are getting into, and be ready to do all it takes to get to the top and remain there. Travel Agency business does not even require a lot of machines or equipments so you don’t have to worry about the money to make such purchases.  If you are convinced that you have all it takes to make it in this business and you can pull it off we are here to give you some helpful tips that will help you achieve your dream.
First things first, you have to acquire substantial knowledge and experience about the business you are venturing into, otherwise you will just end up wasting your money. The importance of having an in-depth knowledge about your choice of business cannot be overemphasized if not how will you even know what to do and how to do it?  A lot of persons who own travel agencies in the country began as independent agents and kept on climbing the ladder to get to where they are today. This is not strange at all or a mere coincidence rather it is very strategic and intentional and is stemmed from the fact that you have to get hands on as well as practical knowledge and experience before launching out into the market properly. While an independent agent will be become accustomed to well known travel agency runners that will show you the ropes. That stage is more like a knowledge and experience acquiring stage so that when you start your own travel company you will be armed with the necessary arsenal for success.  That is a stage where your mistakes can be easily tucked under the belt of learning and experience but when you make certain mistakes as a company they are difficult to rectify as your image would already have been tarnished.  In addition it is also an avenue for you to grow your client base that you will start your company with. At this stage make as much acquaintances as possible because you need every knowledge you can get.  Now while you are at acquiring experience it is also best for you to get professional training.  A very good place for this is the International Air Transport Association, here you’ll get an adequate professional training as well as an official license for your travel agency.
Unlike in some businesses, you do not need to amass a lot of certificates to succeed in Travel Agency Business. This business really thrives a lot on practical and not just theoretical knowledge. Nevertheless, it will be a very big plus on your side if you acquire a tourism degree so you have to really consider getting it because it will give you a little edge in this very competitive business.
Like we said earlier, you do not need to purchase a lot of machines or equipments to kick off this business. You just need the basic things that should be in an office, people who are willing to work for you and you are good to go.  With as little as 500, 000 naira only,  you are so ready to start your own travel business. Do not be so obsessed with the big picture that you forget that you can start little.  Start off small and with patience and diligence you will find your business growing and sooner or later you will be among the big shots that you are always admiring.
There is a popular adage that says “failure to plan is planning to fail”. This is so true and it applies to this Travel Agency Business.  You need to make concrete plans otherwise you’ll just be running from pillar to post. That being said you have to draft a business plan. A business plan helps you to put things in proper perspective and become aware of some crucial details or factors that are very important to the business which you would have ordinarily ignored or overlooked. A business plan helps you to know necessary facts about the business you want to go into and how you can go about it the best way possible so that you can make the most out of it. A business plan can also be used to attract investors to invest in your business or to take loans from banks so you just have to get it right.  A business plan will help you to be fully aware of the plans you have for your business, how you intend to attract and retain customers, your core values amongst others.  Indeed the importance of a business plan can never be overemphasized.
Like we said earlier, you do not need a lot of equipment or capital to start up.  You can even begin as an independent travel agent and climb up the ladder.  However, if you decide to start your business proper,  hiring staff is not mandatory.  If you feel that you can handle the work load effectively then by all means carry on. Nevertheless if you really want it to be big then you have to hire staff because the fact is that the number of clients you can satisfy by yourself won’t be the same if you have staff helping you out. Your staff will help you to get more work done and sooner. The ambience is much better with staff around as there is less stress which is as a result of the fact that the work load is divided. That way no body is stressed out but every one will maintain a high energy and attack every new work with vigour and full concentration. Otherwise you’ll be so exhausted that there will be a lot of mistakes some of which cannot be fixed not to talk about money and time that will be wasted.  So take a minute and really know at what scale you want your Travel Agency Business to operate and that will help you to figure out whether or not you will need staff.
Now let’s talk about almighty location.  Location is a very important factor in a business that one has to carefully think about before finally making a choice. It goes a long way in determining whether or not  a business will succeed or not.  Bear it in mind that this differs from business to business, so what works for business A might not work for business B.  Hence think properly on where your services will be required more.  Instances of choice locations for a Travel Agency Business include airports, hotels, car hire centres, flight-booking channels and similar places.
We have been talking a lot about business strategy, let’s focus a bit on the position of your business from the legal angle. Have you heard of the Corporate Affairs Commission?  It is a body responsible for the registration of business name, companies, Incorporated trustees etc.  You have to register your business at the CAC so that you can have priority over the name and so that your name can be recognized before the law.  Now not just do you have to register your business with the Corporate Affairs Commission but you have to research on the different organizations you are to register with as a Travel Agency to ensure that you go about your business without any disturbances whatsoever. It is also necessary for you to open a bank account in your business name so you can track better your spending and earnings in the business.
In terms of equipments and gadgets for the business, the basic things you need are a computer system and a reliable  internet connection, electricity and if your area has epileptic power supply then you need to have a back up that is an alternative source of power , phones to facilitate communication between you and your clients, tables and chairs.

Hurry now, GET YOUR Travel Agency Business Plan In Nigeria / Feasibility Study. To place an order, pay N10,000 to

GTBank (Guaranty Trust Bank)
Account Name – Chudi-Oji Chukwuka
Account No – 0044157183

After paying for your Travel Agency Business Plan In Nigeria / Feasibility Study, send your email and payment details to 08060565721.

Advertising is key because if people don’t know you how will they patronise you. However you cannot just be advertising anyhow rather ensure that your advertisement hits the target group so that you don’t miss out. There are many means of advertising,  it could either be in magazines, newspapers, social media, dropping off your travel agency contacts to different Nigerian business directories, bulk SMS. Another important factor to note is your business website,  most people ignore this but it is also important and a way to get clients so create a website and make it easy to navigate so that people will find out your services easier,  if your website is too technical and difficult to navigate people will immediately leave it for the next in line.
What do they say about Jack of all trade? Master of none!  And that’s about that.  You can’t be juggling everything together especially when you are just starting. Hence you need to decide on the aspect you feel you are most comfortable with  and that you have the resources to handle effectively. You could decide to be providing visa service, helping people get cheap tickets, organizing excursions or arranging different events just pick the one or ones you are comfortable with. Streamlining what you want to do will also make running of your business a whole lot easier.
 Most businesses have organizations that any one coming into must belong to. It is really good to join these organizations  because no man is an Island. When you join you’ll become part of a bigger body and you’ll meet a lot of people both those starting out just like you and those who have been in the business for long, you’ll be able to compare notes and learn from those who have gone ahead of you so that you don’t end up making the same mistakes as they did. Being a part of these organizations and unions will keep you informed and up to date on all the happenings around your business. You will also be privy to different information that can help to boost your business. Examples of such organizations to join are International Air Transport Association (IATA) , Nigerian Society of Travel Agents (NSTA), and National Association of Commission Travel Agents (NACTA). You can join in one but it will be very good for you to be a member of the three associations because it means that you will have a better chance at useful information and meeting people either to give you advice or help you to improve your client base.
Like we’ve said over and over again,  you can’t be an Island in this business. You have to always be in communication with those starting out,  those who are young in the business and those whon
 have been in the business for a long time. That way you’ll become aware of mistakes you would have made and avoid them, you’ll also know the right steps to take at the right time. This will help your business to grow faster but if you insist on doing it all by yourself, you’ll see that your business won’t grow as fast as you would want it.
No doubt you are now ready to dive into the business of Travel Agency but just hold on let us run through what will make it a success.
1. Acquire as much knowledge as possible about the business you are about to venture into. Knowledge is power. Know all you can about tourism and choice locations, vacation spots,  excursion and trip arrangements,  visa services, ticket sales amongst others. Also make connections with the right people to know how to avoid some mistakes and to grow your client base. In addition be a part of relevant associations and unions.
2. Invest in advertisement. Like we’ve pointed out, if people don’t know you,  they will not patronise you. You also have to make sure that you are not just advertising for advertisement sake rather you are  getting your target group.  There are various means of advertising which include, flyers, business cards, posters, social media, bill boards, bulk SMS amongst others.
3. Have a good customer care. Success in business is not just hinged on advertising and amassing clients. Retaining them also plays a very significant role in it.  Hence customer care is really important as the clients that you have successfully retained will refer other people in search of the same services to you.
4. Acquire the right licence. You can achieve this by getting accredited with the International Air Transport Association (IATA). This implies the following :
a)  Have at least four or five workers under you and at least two of them must be well versed in travel agency as well as airline business.
b) Your office should have at least Four computer sets, reliable internet connection and a steady source of power supply. A way to go around the steady power requirement in Nigeria is to have an alternative source of power.
c)  You have to be duly registered with the Corporate Affairs Commission.
You can find out more about the requirements and the process for registration with the International Air Transport Association at www.iata.org.
You might feel that the requirements are much but there are a lot of advantages to becoming licensed with them a major one being that you can have access to the IATA database where you can purchase the best tickets for the clients, book the chartered flights amongst others.
More so, upon being licensed, you can subscribe to the Global Distribution System (GDS). The GDS is a system  used by licensed travel agents to reserve hotel rooms, plane seats, amongst others. Examples of some well known GDS companies include Amadeus, Sabre, and Galileo.  It is important to note that it is not enough to get registered with the IATA or get subscribed with any GDS companies and just leave it at that.  You have to pay attention to their training courses as that will help you to get more out of them, making it really worth your while.

Hurry now, GET YOUR Travel Agency Business Plan In Nigeria / Feasibility Study. To place an order, pay N10,000 to

GTBank (Guaranty Trust Bank)
Account Name – Chudi-Oji Chukwuka
Account No – 0044157183

After paying for your Travel Agency Business PlanIn Nigeria / Feasibility Study, send your email and payment details to 08060565721.

 

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