Office Space Expenses

$0

$7,000

Employee & Freelancer Expenses

$151

$352

Website Costs

$223

$7,215

Business Formation Fees

$5,600

$20,400

Equipment & Supply Expenses

$63

$200

Software Expenses

$162

$3,094

Advertising & Marketing Costs

$0

$2,800

Total Startup Costs

$6,199

$41,061

TBO

travelboutiqueonline.com

9,687

Tripadvisor

tripadvisor.co.uk

17,223

Immigration & Checkpoints Authority (ICA)

ica.gov.sg

19,848

Transport for London

tfl.gov.uk

28,916

Wikitravel

wikitravel.org

31,974

Travelport

travelport.com

39,366

TravelPulse

travelpulse.com

41,975

TravelDoc Passenger View

traveldoc.aero

65,370

Travel Guard

travelguard.com

108,535

Irish Rail

irishrail.ie

138,242

Spanish Tourism

spain.info

140,042

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!

Traffic to your website

A travel information business gives people a reason to visit your website and to keep coming back to you!

Meaningful business connections

You never know who you will meet as a travel information business. This could be the start of an incredible business opportunity!

High customer retention rates

Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.

Control of workload

With starting a travel information business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.

Motivation of employees

If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.

Low margins

The gross margins for your travel information business are typically around 20%, which can make it more challenging to incur new expenses and maintain profitability.

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 travel information business, 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.

Difficult to build trust with your customer

With starting a travel information business, there can be minimal face-to-face interaction, which means it can be a lot more difficult to establish trust with your customers. You'll need to go the extra mile with your customer to grab their attention and business.