Are you about writing a travel agency business plan? If YES, here is a sample SWOT analysis for a travel agency company to help you form a competitive strategy.
Travel Agency Business Plan – Economic Analysis
If you are looking for a business that requires less stress to set – up and perhaps minimal start – up capital to start, then you can consider starting a travel agency business. The cost of running a travel agency business when compared to the turnover you get annually can be poles apart (this is applicable only when you have been able to establish your feet in the industry and secure retainer – ship with big corporations).
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.
A Sample 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;
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.
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.
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.
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.
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