Start A Discount Travel Website

22 Pros & Cons Of Starting A Discount Travel Website

Pros & Cons

Trying to understand the pros and cons of starting a discount travel website?

Here are all of the pros and cons of selling online travel services online:

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Little startup costs required The cost to start a discount travel website costs significantly less money than most businesses, ranging anywhere from 62 to 45,511.
Traffic to your website A discount travel website gives people a reason to visit your website and to keep coming back to you!
Quick build time The average time it takes to build your product is quick - typically around 10 months. This will allow you to bring your product to market faster.
Amazing perks and discounts Working in the discount travel website comes with its perks! As a seller for these products/services, you typically also get to enjoy industry perks and discounts.
You are your own boss! With starting a discount travel website, you are the one to make decisions for almost all of the operations. Calling the shots can be empowering and liberating!
Travel Opportunitites There are many travel opportunities that come with starting a discount travel website You will need to travel a lot to see and experience some of the destinations you are selling.
You can work from anywhere! Not only can you start your discount travel website from home, you can also run your business from anywhere in the world. This is the entrepreneur dream.
You establish yourself as an expert With starting a discount travel website, you establish yourself as an expert in your niche, which builds your credibility. In return, customers are more likely to trust you and refer you to other friends and family.
Various different ways to make money With starting a discount travel website, there is not just one business model to choose from. This field is amazing in that there are various different ways to make money. Although this may complicate things, it's great to have different options and sources of revenue.
Make money while you sleep The advantage of starting a discount travel website is that you have the ability to have passive income and make money while you sleep. This is the dream for many entrepreneurs.
Cons Description
Crowded Space Competition is high when it comes to your discount travel website, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Niche Market A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.
Churn In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible.
Time commitment With starting a discount travel website, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.
Impatient customers You may offer an engaging user experience for your customer, but customers expect a lot and may be impatient if they aren't pleased with your product or service.
You might struggle financially (at first)! If you bootstrap your business or choose not to pay yourself (or pay yourself less than you were making at your corporate job), this can be financially taxing. It's important to adjust your lifestyle and set a plan for yourself so you don't find yourself in a stressful situation.
The job can be demanding This is one of the major disadvantages starting a discount travel website. It's important to understand that you may need to make yourself available on a 24/7 basis.
Answering Phones The discount travel website is still considered a traditional business, which means answering phones is a big part of the job. If you or your team miss phone calls, you could be missing out on potential revenue opportunities. If you are unable to attend to your phone throughout the day, it would be in your best interest to hire a call center or an employee dedicated to this.
Recession-Impacted Industry When the economy is down, discount travel website's are one of the first things to be cut.
Technical issues can be frustrating Technical issues are common in this business. If you struggle with the technical side of things, you may want to consider outsourcing this responsibility to save yourself the time and frustration.