Starting a travel information business requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell travel information, or selling travel information online, you can use this page as a guide for everything you'll need to know.
Want to learn more? You can check out our full guide on how to start a travel information business ➜
|Min Startup Costs||Max Startup Costs|
|Office Space Expenses||$750||$7,000|
|Employee & Freelancer Expenses||$151||$352|
|Equipment & Supply Expenses||$563||$5,200|
|Business Formation Fees||$5,600||$20,400|
|Advertising & Marketing Costs||$0||$2,800|
|Total Startup Costs||$7,529||$46,861|
|Immigration & Checkpoints Authority (ICA)||ica.gov.sg||#19,848|
|Transport for London||tfl.gov.uk||#28,916|
|TravelDoc Passenger View||traveldoc.aero||#65,370|
|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.|
Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.
Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.
According to Nielsen, 92% of people trust recommendations from friends and family.
Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.
Social media advertising is the use of social media platforms to connect with your audience with the objective to build your brand, increase sales, and drive website traffic.
According to Oberlo, approximately 48% of the global population use social media, and the number is ever-growing.
Therefore, social media allows brands access to cost-effective advertising by enabling them to interact with a large audience.
A Facebook Community refers to a Facebook page dedicated to a topic or an experience owned collectively by the community connected to that page.
The Community page allows the admin to connect with others who share similar interests and experiences.
Facebook communities are a great platform for growing brand awareness and marketing your products.