Which is the Best Travel Franchise?
If there is one industry that seems to weather the difficulties associated with harsh economic conditions, it’s the travel business. To this end, so many travel franchises continue to crop up. Despite there being hundreds of travel agencies, this industry seems to be expanding. This is even easier today, given the level of internet access most people enjoy. A travel business doesn’t need to have a brick-and-mortar office with hundreds of employees. You can set up in your home and conduct all your business online these days. For more on the travel business, go to click site.
Many such travel businesses are franchises. This means that they offer opportunities for potential investors to become a part of their business. A franchise is when the franchisor, in this case, a travel agency, offers an opportunity for entrepreneurs to set up their travel business under the franchisor’s brand name and directions. The entrepreneurs, called franchisees, are expected to meet certain capital requirements and pay royalties to the franchisor. In an industry that’s expected to grow to over $17 billion, there is a huge potential for profitability for any franchisee buying a travel franchise.
A travel franchise can offer any of various travel services. Whether it’s luxury cruises or air flights, there’s always an opportunity for investors to make a buck.
Below are examples of some travel franchises that offer an opportunity for investments.
This agency has been in business for more than three decades. It has been franchising for just as long, offering boat and liner cruises as its flagship service. However, it has a range of other travel products too. With a solid marketing and advertising strategy, the company has achieved a minimum of 20% yearly growth for over two decades. This means potential franchisees can expect to get a piece of this piece once they invest. With no limit on the number of travel agents a franchisee can employ, there is a potential to earn significant commissions. To buy this franchise, you need an initial investment of $165 000 and $39 000 in franchise fees. Royalties paid to the company are at 9%. This franchise offers an opportunity for tremendous growth and steady profits for franchisees willing to put in the work.
2) Travel Leaders
Providing a unique travel experience with some nice perks is always going to attract new business. Travel Leaders has done this since its inception in the late 19th century and its franchising nearly a century later. The company’s progressive business approach means that they tend to retain many clients, meaning more revenues. This is good news for any potential franchisees. With over 350 franchise units, the company continues to see growth as it helps its franchisees get a foothold in the industry. This support for franchisees is mainly through its Business Travel Management Program, giving franchisees the tools necessary to bring in new business. A franchisee can expect to part with $1000 a month in royalties while the franchise fee may be waived, depending on factors like experience or whether the franchisee has a travel business already in place. The initial investment requires a minimum of less than $2500.
3) Dream Vacations
With many people opting for long cruises, it’s no wonder that franchises in this travel niche continue to rake it in. Dream Vacations is a highly successful travel franchise that focuses on providing clients with memorable boat rides and ocean liner cruises. Located at the famed Fort Lauderdale in Florida, this company has grown to over a thousand franchisees. They have a solid training program in place to mentor novice franchisees, ensuring that they’re ready to run their business effectively. For an initial investment of less than $1800 and a franchise fee that ranges between $495 and $10 500, you can become a part of this successful travel franchise. Royalties are at 1.5 to 3%. Franchisees can expect continued support and training to help them grow their business.
4) Cruise Planners
Cruise Planners are one of the largest home-based travel franchise networks. This company offers potential franchisees the freedom to work from virtually anywhere and see steady profits. With the latest technology available for enhanced business and customer experience, franchisees can expect to have their business up and running in no time. Their team is available to provide the coaching and other necessary tips to give the franchisee all the tools needed for success. A franchise fee of between $695 and $10 995 is required, while the initial investment is at $2295.
Of course, you always want to do your research before making any kind of financial commitment toward any franchise.