Statistics show a stable growth in revenue in the travel industry once again after the pandemic. The statistics analyze the industry as a whole, both individually planned trips and services of travel agents. Not that long ago travel agents were the only resort to booking flights, arranging accommodation and tours. Whereas smartphones nowadays make it possible to arrange an around the world trip in a matter of minutes from the comfort of the sofa. Yet, though it may come as a surprise, the demand for travel agents remains high. Therefore, in 2024, opening a travel agency is a sought after business.
About the reviewer
Jakub Babkins, business plan creator at OGS Capital, specializes in developing growth strategies for small-to-medium-sized businesses.
Business planning starts with the gathering of data, research and analysis. We are well acquainted with the classical layout and content of a business plan. For a travel agency in 2024, preparation and research includes being up-to-date with technology, software development and innovation. For a competitive advantage, a business plan for travel agency should also include the following:
- Anticipated demand in terms of destinations, types of holidays, and new travel trends;
- Use of algorithms and tailored search criteria for best matching results;
- Time efficiency and an up-to-date evaluation of the work environment;
- Enhancement of the user experience;
- Loyalty and discount programs for both clients and business partners.
The role of software in the travel business
The simplicity of arranging booking your dream vacation on the go, on the subway, or in bed, questions the viability of the travel agency business in 2024. However, statistics show the opposite. As a travel agent, you have to identify why consumers will turn to your travel agency instead of making all the necessary arrangements by themselves. For different target audiences, motivation could be different. Not everyone is tech-savvy. This should be considered when choosing the software that a consumer will encounter when booking your services.
Choosing software for data analysis
A starting entrepreneur faces a range of available data analysis software. Picking the right software for the industry will save up on some repetitive, mundane work and yield better results.
Conclusion
To build a successful business in the travel industry, you must first understand the motivation of your target audience. What makes them turn to a travel agency instead of organizing everything by themselves? A business is not limited to using only one software; a number of software systems can be used at the same time. This approach works best if the software programs can connect to one another and share data. This saves up on repetitive data input work and system administration.