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A Sample Travel Agency Business Plan Template

Are you about starting a travel agency online? If YES, here is a complete sample travel agency business plan template & feasibility report you can use for FREE.

Okay, so we have considered all the requirements for starting a travel agency. We also took it further by analyzing and drafting a sample travel agency marketing plan template backed up by actionable guerrilla marketing ideas for travel agencies. So let’s proceed to the business planning section.

The travels and tourism industry of which travel agencies belong to is a big and profitable industry in the United States of America and of course all across the globe. The travels and tourism industry provide jobs directly and indirectly to countless numbers of entrepreneurs all over the globe. The opportunities that are available in the industry cuts across service deliveries and product sales et al.

Why Start a Travel Agency?

One thing is certain, it is a fact that the travels and tourism industry is not all about tourists but also about all those who travel from one country to another, from one city to another for various purposes and with the help of traveling agencies. This is why any investor or entrepreneur who is looking towards starting a business in the travels and tourism industry should consider starting a travel agency.

The line of business (travel agency) is open to both big time investors who have the financial capacity to invest in the travel and tourism industry and also aspiring entrepreneurs who just want to make a living but don’t have start – capital. As a matter of fact aspiring entrepreneurs who don’t have start – up capital can start out as freelance travel agents if they are diligent enough, they can build a big and well organized traveling agency.

Simply put, travel agencies render services that cover all aspect of traveling. They help their clients in securing visas (especially transit visas), purchase flight tickets, book hotels, book taxi cabs and bus shuttle services and of course make arrangement for site seeing amongst other services.

They work in conjunction with service providers such as airline companies, car rentals companies, cruise lines companies, hotels, railways, tourist sites managers and perhaps interpreters and security agencies (supply of bodyguards et al for celebrities and other VIP clients).

So if you are looking towards starting a business in the travels and tours industry, then one of your best options is to start a travel agency. It is a cool way of making money from the industry and with little start – up capital a serious minded entrepreneur can successfully launch this type of business.

How Do Travel Agencies Make Money?

The norm in this industry is that, travel agencies make their money via commission they get by offering traveling related services such as booking for flight tickets, securing transit visas, booking for shuttle buses / taxi cabs, car rentals, hotel bookings and cruise line bookings amongst many other services.

Travel agencies also generate incomes from selling of traveling related insurance policy cover, sale of travel guide books and through the sale of foreign currencies.

Lastly, one good thing about travel agencies is that there is readily available market for their services simply because people would always have cause to move or travel from one destination to another be it local travels or international travels.

A Sample Travel Agency Business Plan Template

  • Business Overview

Statistics has it that as far back as 2009, the total market size for travel agencies in the United States experienced a sharp decline, dropping from an estimate of $17 billion in 2008 to $14.5 billion. Cruise line booking remains one of the most profitable aspects of travel agencies, as a matter of fact, they handle an estimate of about 77% of bookings in that line of business and also an estimate of about 73% of packaged travel tour as it relate to cruise line services.

It is on record that Brownell Travel which was founded on July 4, 1887 by Walter T. Brownell is the oldest travel agency in the United States of America and it took several years, in the 1920s to be specific for travel agencies to become a popular business that looks promising and profitable.

Available data shows that employment of travel agents is projected to decline 12 percent from 2014 to 2024. This is so because the ability of travelers to use the Internet to research vacations and book their own trips is expected to continue to subdue demand for travel agents.

Since 1995 till date, many airline companies around the globe and most airline companies in the United States of America no longer pay commissions to travel agencies whenever they help clients book airline tickets. What traveling agencies now do is to ensure that they add their commission to the price of the tickets whenever they are selling to their clients.

In recent time, with the advent of the internet and the general public accessing the Internet, many airline companies have started selling their tickets directly to their target market via their online portal. So also it is now easier for other business in the value chain of travels and tours industry to now directly sell their services via their online portal to their target market.

Service providers such as airline companies, car rentals companies, cruise lines companies, hotels, railways, tourist sites managers and perhaps interpreters and security agencies et al. which is why you can’t find any airline company paying commissions to travel agents on each ticket they sold.

No doubt the travel agency line of business cannot be said to be oversaturated despite the challenges most traveling agencies are facing. The source of the challenges cannot be far – fetched, as a matter of fact, with many people swapping to self-service internet websites, the number of available services and even jobs as travel agents is decreasing despite the fact that there are more travelers than ever before.

Some of the factors that encourage entrepreneurs to start their own travel agencies could be that the business is easy to set up and the start – capital is indeed affordable; you can actually start your own travel agency business from the comfort of your home. All you need to do is to create an office somewhere in your house.

Travel Agency Business Plan – Executive Summary

Chris Williams Travels & Tours, LLC is a registered and standard travels and tours agency that will be based in Las Vegas – Nevada. The company will handle all aspect of travels and tours related business such as booking for flight tickets, securing transit visas, booking for shuttle buses / taxi cabs, car rentals, hotel bookings and cruise line bookings amongst many other travels and tours related services such as selling of traveling related insurance policy cover, sale of travel guide books and through the sale of foreign currencies.

We are aware that to run an all – round travel and tour agency can be demanding which is why we are well trained and equipped to perform excellently well.

Chris Williams Travels & Tours, LLC is a client-focused and result driven travels and tours agency that provides broad-based experience at an affordable fee that won’t in any way put a hole in the pocket of our clients. We will offer a standard and professional travels and tours services to all to our individual clients, and corporate clients at local, state, national, and international level. We will ensure that we work hard to meet and surpass our clients’ expectations whenever they hire our services.

At Chris Williams Travels & Tours, LLC, our client’s best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professionals who are well experienced in the travels and tours industry.

Chris Williams Travels & Tours, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

Our plan is to position the business to become the leading brand in the travels and tours line of business in the whole of Nevada, and also to be amongst the top 20 travels and tours agencies in the United States of America within the first 10 years of operations.

This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Las Vegas is the right place to launch our travels and tours agency before spreading to other parts of The United States.

Chris Williams Travels & Tours, LLC is founded by Chris Williams and family. The organization will be managed by Chris Williams and other members of his family and partners. He has well over 15 years of experience working at various capacities within the travels and tours industry in the United States of America. Mr. Chris Williams graduated from both University of California – Berkley (First Degree), and University of Harvard (MSc.) and he is a Certified Travel Agent (CTA), a Travel and Tourism Professional (TTP) and he has a Total Travel Certification (TTC).

  • Our Product and Services

Chris Williams Travels & Tours, LLC is going to offer varieties of services within the scope of the travels and tours industry in the United States of America. Our intention of starting our travels and tours agency is to make profits from the industry and we will do all that is permitted by the law in the United States to achieve our business goals, aim and ambition.

Our business offering are listed below;

  • Travels and Tours consulting and advisory services for individuals and corporate clients
  • Selling of traveling related insurance policy cover, sale of travel guide books and through the sale of foreign currencies.
  • Booking for flight tickets
  • Securing transit visas
  • Booking for shuttle buses / taxi cabs
  • Car rental services
  • Hotel bookings
  • Cruise line bookings

Our Vision Statement

Our vision is to build a travels and tours agency brand that will become the number one choice for both individual clients and corporate clients in the whole of Las Vegas – Nevada. Our vision reflects our values: integrity, service, excellence and teamwork.

  • Our Mission Statement

Our mission is to provide professional and trusted travels and tours services that assist individuals, corporate organization and non-profit organizations in organizing all of their travels and tours. We are to position the business to become the leading brand in the travels and tours line of business in the whole of Nevada, and also to be amongst the top 20 travels and tours agency in the United States of America within the first 10 years of operations.

  • Our Business Structure

Chris Williams Travels & Tours, LLC will build a solid business structure that can support the growth of our business. We will ensure that we hire competent hands to help us build the business of our dream. The fact that we want to become one of the leading travels and tours agencies in the United States makes it highly necessary to deliberately build a well – structured business from the onset.

Below is the business structure that we will build Chris Williams Travels & Tours, LLC;

  • Chief Executive Officer
  • Travels and Tours Consultant
  • Admin and HR Manager
  • Marketing and Sales Executive
  • Accountant
  • Customer Care Executive / Front Desk Officer

Roles and Responsibilities

Chief Executive Office:

  • Responsible for providing direction for the firm
  • Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for handling high profile clients and deals
  • Responsible for fixing prices and signing business deals
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization
  • Reports to the board

Travels and Tours Consultant

  • Responsible for booking for flight tickets, securing transit visas, booking for shuttle buses / taxi cabs, car rentals, hotel bookings and cruise line bookings amongst many other travels and tours related services for clients
  • Plan, design and produce events while managing all project delivery elements within time limits
  • Liaise with clients to identify their needs and to ensure customer satisfaction
  • Conduct market research, gather information and negotiate contracts prior to closing any deals
  • Provide feedback and periodic reports to stakeholders
  • Propose ideas to improve provided services and tourism quality
  • Ensure compliance with insurance, legal, health and safety obligations
  • Cooperate with marketing and PR to promote and publicize travels and tours events
  • Conduct pre- and post – travels and tours events evaluations and report on outcomes
  • Research market, identify travels and tours opportunities and generate interest

Admin and HR Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Design job descriptions with KPI to drive performance management for clients
  • Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
  • Defining job positions for recruitment and managing interviewing process
  • Carrying out staff induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
  • Oversee the smooth running of the daily office activities.

Marketing and Sales Executive

  • Responsible for selling of traveling related insurance policy cover, sale of travel guide books and through the sale of foreign currencies.
  • Identify, prioritize, and reach out to new partners, and business opportunities et al
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
  • Writing winning proposal documents, negotiate fees and rates in line with company policy
  • Responsible for handling business research, marker surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develop, execute and evaluate new plans for expanding increase sales
  • Document all customer contact and information
  • Represent the company in strategic meetings
  • Help increase sales and growth for the company

Accountant

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for one or more properties.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensuring compliance with taxation legislation
  • Handles all financial transactions for the company
  • Serves as internal auditor for the company

Client Service Executive / Front Desk Officer

  • Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the manager in an effective and timely manner
  • Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
  • Receives parcels / documents for the company
  • Distribute mails in the organization
  • Handles any other duties as assigned my the line manager

Travel Agency Business Plan – SWOT Analysis

Chris Williams Travels & Tours, LLC engaged the services of a core professional in the area of business consulting and structuring to assist the firm in building a well – structured travels and tours agency that can favorably compete in the highly competitive travels and tours industry.

Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Chris Williams Travels & Tours, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Chris Williams Travels & Tours, LLC;

  • Strength:

Our core strength lies in the power of our team; our workforce. We have a team that can go all the way to give our clients value for their money; a team that are trained and equipped to pay attention to details. We are well positioned and we know we will attract loads of clients from the first day we open our doors for business.

  • Weakness:

As a new travels and tours agency, it might take some time for our organization to break into the market and gain acceptance especially from corporate clients in the already saturated travels and tours industry; that is perhaps our major weakness.

  • Opportunities:

The opportunities in the travels and tours industry is massive considering the number of individuals, families and corporate organizations who travels on a daily basis within the United States and to other parts of the world. As an all – round travels and tours agency, we are ready to take advantage of any opportunity that comes our way.

  • Threat:

Some of the threats that we are likely going to face as a travels and tours agency operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing / spending power. There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.

Travel Agency Business Plan – MARKET ANALYSIS

  • Market Trends

A common trend in the travels and tours industry is that in recent time, with the advent of the internet and the general public accessing the Internet, many airline companies have started selling their tickets directly to their target market via their online portal.

So also, it is now easier for other business in the value chain of travels and tours industry to now directly sell their services via their online portal to their target market. Service providers such as airline companies, car rentals companies, cruise lines companies, hotels, railways, tourist sites managers and perhaps interpreters and security agencies et al. which is why you can’t find any airline company paying commissions to travel agents on each ticket they sold.

The travels and tours industry is in a continuous state of evolution and as such, ground breaking strategies and ideas that are once highly successful are no longer as productive as they were in time past. Close observation of the trend in the industry reveals that the past few years have seen the rise and proliferation of social media and new tech tools. The trend also extends to increased attention paid to engagement and new market segments, adopting eco-friendly measures and sustainability when planning travels and tours events.

As a matter of fact, social media has now become one of the most important tools travels and tours agencies leverage on to disseminate information about their travels and tours events, interact with clients, solicit feedback, and create year-round engagement with their target audience. Furthermore, new software apps and emerging technology have made it easier for travel and tours agencies to gather all the needed data and information that will help them plan and project for the future.

People that start travel agency can as a matter of fact start the business from a small office space / shared office space and still make headway in the business. One thing is certain when it comes to travel agency business, you are sure of making profits in form of commissions when you are able to successfully book flight tickets, hotel reservation, taxi cab reservation and any other travel related services for a client. You are going to get your cut as soon as they make payment.

The truth is that, the cost of running a travel agency can be kept to the barest minimum because there are always ways you can cut operational and overhead cost. As a matter of fact, most people that run travel agencies have abandoned the “brick and mortar” agency for a home-based business just for the sole aim of reducing overhead, and maximizing profits.

  • Our Target Market

The demographic and psychographics composition of travel agencies cuts across people from all works of life; there is no clear distinction on those that would naturally need the services of travel agencies. Although a travel agency might decide to concentrate on high – income earning clients, and another travel agency might only concentrate on corporate clients. The bottom line is that anyone that can afford to travel from one country to another is a potential client for travel agencies.

Although Chris Williams Travels & Tours, LLC will initially serve small to medium sized business, from new ventures to well established businesses and individual clients, but that does not in any way stop us from growing to be able to compete with the leading travels and tours agencies in the United States.

As an all – round travels and tours agency, Chris Williams Travels & Tours, LLC offers a wide range of services hence we are well trained and equipped to services a wide range of clientele base.

Our target market cuts across people of different class and people from all walks of life, local and international organizations as well. We are coming into the industry with a business concept that will enable us work with the highly placed people and companies in the country and at the same with the lowly placed people and smaller businesses.

Below is a list of the people and organizations that we have specifically design our products and services for;

  • Potential Couples / Young Adults
  • Blue Chips Companies
  • Corporate Organizations
  • Religious Organizations (Pilgrimage journeys et al)
  • Political Parties / Politicians
  • Households / Families
  • The Government (Public Sector)
  • Schools (High Schools, Colleges and Universities)
  • Sport Organizations
  • Entrepreneurs and Start – Ups

Our Competitive Advantage

The level of competitions in the travel agency line of business depends largely on the location of the business and of course the niche of your travel agency. If you can successfully create a unique brand identity for your travel agency or carve out a unique market, you are likely going to experience less competition.

For instance if you are one of the few travel agency in your country or state that handles pilgrimage travels, you are show going to be making constant mega box year after year. This is so because religious faithful are always traveling for pilgrimage journey annually.

Although the competition in the travel agency line of business is not just within travel agencies but also other travel related service providers. For example, it is now easier for you a traveler to book his or her hotel accommodation, book flight ticket, reserve taxi cab or rent car ahead of his journey from the comfort of his or her home with the aid of the internet simply because most of the service provider are by – passing travel agencies and taking their services directly to their target market.

We are quite aware that to be highly competitive in the travels and tours industry means that we should be able to deliver consistent quality service, our clients should be able to experience remarkable difference cum improvement and we should be able to meet the expectations of both travelers / tourists and our partners (services providers).

Chris Williams Travels & Tours, LLC might be a new entrant into the travels and tours industry in the United States of America, but the management staffs and owners of the business are considered gurus. They are people who are core professionals and licensed and highly qualified travels and tours experts in the United States. These are part of what will count as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups travels and tours agencies) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

Travel Agency Business Plan – SALES AND MARKETING STRATEGY

We are mindful of the fact that there are stiffer competition amongst travels and tours agencies and other related service providers in the United States of America, hence we have been able to hire some of the best business developer to handle our sales and marketing.

Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization. We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard travels and tours business that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).

Our goal is to grow our travels and tours agency to become one of the top 20 travels and tours agencies in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the Las Vegas but also in other cities in the United States of America.

Chris Williams Travels & Tours, LLC is set to make use of the following marketing and sales strategies to attract clients;

  • Introduce our business by sending introductory letters alongside our brochure to corporate organizations, schools, households and key stake holders in Las Vegas and other cities in Nevada.
  • Promptness in bidding for travels and tours contracts from the government, religious organizations and other cooperate organizations
  • Advertise our business in relevant travels and tours magazines, newspapers, TV stations, and radio station.
  • List our business on yellow pages ads (local directories)
  • Attend relevant international and local travel and tours expos, seminars, and business fairs et al
  • Create different packages for different category of clients in order to work with their budgets and still deliver quality services to them
  • Leverage on the internet to promote our business
  • Engage direct marketing approach
  • Encourage word of mouth marketing from loyal and satisfied clients

Sources of Income

Chris Williams Travels & Tours, LLC is established with the aim of maximizing profits in the travels and tours industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis and sign retainer – ship with most of our clients.

Chris Williams Travels & Tours, LLC will generate income by offering the following travels and tours services for individuals and for corporate organizations;

  • Travels and Tours consulting and advisory services for individuals and corporate clients
  • Selling of traveling related insurance policy cover, sale of travel guide books and through the sale of foreign currencies.
  • Booking for flight tickets
  • Securing transit visas
  • Booking for shuttle buses / taxi cabs
  • Car rental services
  • Hotel bookings
  • Cruise line bookings

Sales Forecast

One thing is certain; there would always be individuals, families and corporate organizations that would travel on a daily basis within the United States and to other parts of the world.

We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond Las Vegas to other cities in Nevada and other states in the U.S.

We have been able to critically examine the travels and tours market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Las Vegas – Nevada.

Below is the sales projection for Chris Williams Travels & Tours, LLC, it is based on the location of our business and the wide range of travels and tours services that we will be offering;

  • First Year-: $150,000
  • Second Year-: $350,000
  • Third Year-: $750,000

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

  • Our Pricing Strategy

The norm in this industry is that, travel agencies make their money via commission they get by offering traveling related services such as booking for flight tickets, securing transit visas, booking for shuttle buses / taxi cabs, car rentals, hotel bookings and cruise line bookings amongst many other services.

Travel agencies also generate incomes from selling of traveling related insurance policy cover, sale of travel guide books and through the sale of foreign currencies.

At Chris Williams Travels & Tours, LLC we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to start – ups, nonprofits, cooperatives, and small social enterprises.

We are aware that there are some clients that would need regular access to travels and tours consultancy and advisory services and assistance, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.

  • Payment Options

At Chris Williams Travels & Tours, LLC, our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;

  • Payment by via bank transfer
  • Payment via online bank transfer
  • Payment via check
  • Payment via bank draft
  • Payment with cash

In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.

Travel Agency Business Plan – Publicity and Advertising Strategy

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the travels and tours industry by storm which is why we have made provisions for effective publicity and advertisement of our travels and tours agencies.

Below are the platforms we intend to leverage on to promote and advertise Chris Williams Travels & Tours, LLC;

  • Place adverts on both print (community based newspapers and magazines) and electronic media platforms
  • Sponsor relevant community based events / programs
  • Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
  • Install our Bill Boards on strategic locations all around Las Vegas – Nevada.
  • Engage in road show from time to time
  • Distribute our fliers and handbills in target areas
  • Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our company’s logo et al.

Travel Agency Business Plan – Financial Projections and Costing

Starting a travel and tours agency can be cost effective; this is so because on the average, you are not expected to acquire expensive machines and equipment. Basically what you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, the amount needed to furniture and equip the office, the amount to purchase the required software applications, the amount needed to pay bills, promote the business and obtain the appropriate business license and certifications.

This is the financial projection and costing for starting Chris Williams Travels & Tours, LLC;

  • The Total Fee for incorporating the Business – $750.
  • The budget for basic insurance policy covers, permits and business license – $2,500
  • The Amount needed to acquire a suitable Office facility in a business district 6 months (Re – Construction of the facility inclusive) – $40,000.
  • The Cost for equipping the office (computers, software applications, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $ 5,000
  • The cost for purchase of the required software applications – $2,500
  • The Cost of Launching your official Website – $600
  • Budget for paying at least one employees for 3 months plus utility bills – $10,000
  • Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
  • Miscellaneous: $1,000

Going by the report from the market research and feasibility studies conducted, we will need over one hundred and fifty thousand (150,000) U.S. dollars to successfully set – up a medium scale but standard travels and tours agency in the United States of America.

Generating Funding / Startup Capital for Chris Williams Travels & Tours, LLC

Chris Williams Travels & Tours, LLC is a family business that will be owned by Chris Williams and family. They are the sole financial of the firm, but may likely welcome partners later which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

  • Generate part of the start – up capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from my Bank

N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

Travel Agency BUSINESS GROWTH: Sustainability and Expansion Strategy

It is easier for businesses to survive when they have steady flow of business deals / customers patronizing their products and services. We are aware of this which is why we have decided to offer a wide range of event planning and other related services to both individual and corporate clients.

We know that if we continue to deliver excellent travels and tours services, there will be steady flow of income for the organization.

Our key sustainability and expansion strategy is to ensure that we only hire competent employees, create a conducive working environment and employee benefits for our staff members. In the nearest future, we will explore the options of either selling out franchise or expanding our scope beyond Las Vegas – Nevada to other major cities in the United States of America.

We know that if we implement our business strategies, we will achieve our business goals and objectives in record time.

Check List / Milestone

  • Business Name Availability Check: Completed
  • Business Incorporation: Completed
  • Opening of Corporate Bank Accounts various banks in the United States: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of All form of Insurance for the Business: Completed
  • Conducting Feasibility Studies: Completed
  • Generating part of the start – up capital from the founder: Completed
  • Applications for Loan from our Bankers: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
  • Recruitment of employees: In Progress
  • Purchase of the Needed software applications, furniture, office equipment, electronic appliances and facility facelift: In progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business (Business PR): In Progress
  • Health and Safety and Fire Safety Arrangement: In Progress
  • Establishing business relationship with vendors and key players in the industry: In Progress
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