How & When Travel and Tours Agency Business Make Money in Nigeria
How & When Travel and Tours Agency Business Make Money in Nigeria – There are three major players is this industry. They are the transportation companies (Airline, Cruise and Shipping companies and other transporters), the hospitality industry who provide accommodation, recreation and event facilities, and a special category of people that work behind the scenes – in-between the first two players – to ensure that travellers are comfortable on their trips and get value for their money. These people are the travel agents, the bases of this article.
This third group render the following services, which centre on making travel arrangements for clients.
- Travel ticket booking and reservations.
- Hotel booking and reservations.
- Providing visa assistance
- Liaising with the airlines on behalf of clients
- Check-in and Baoding Pass available to client
- Providing counselling and travel advisory services to clients.
- Structuring travel itineraries for clients according to interests.
- Monitoring the return journey of the clients,
- Hunting/searching for the best prices on all services.
- Event management services – event tickets, participations etc.
- Provision of ground transportation – car hire service
- Arrangements with Car leasing companies for clients during their stay in foreign countries.
- Arranging special tours for people/schools/organisation/NGOs.
- Furthermore, arranging for travel insurance for clients.
- Providing any form of service or assistance that would improve the travel experience of clients.
How & When Travel and Tours Agency Business Make Money in Nigeria
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We shall soon show you how they turn these services into cash cows. How & When Travel and Tours Agency Business Make Money in Nigeria
How & When Travel and Tours Agency Business Make Money in Nigeria. How are these services turned into money making activities? Cash cow you may call them.
Since you have decided to start your own traveling agency, it’s important you have a good grasp of what traveling agency business does and how they turn their services into money making activities.
Firstly, you have to note that if you work closely with a travel agent you will be surprised to find out that every of his/her activities are paid for. Therefore, if you want to know more, the best means is to work and understudy a successful travel agent.
This is because, it’s easier to know a trade’s secret when you are involved in the day – to – day running of the business. Before you take this steps of working for a travel agent, here are ways they turn their services into cash cows.
How & When Travel and Tours Agency Business Make Money in Nigeria
Ways Travel Agents Make Money in Nigeria and Globally:
Now put on your thinking cap, so that we consider the points one after the other. If you understand how travel agent work you have also known how they make their money as well. How & When Travel and Tours Agency Business Make Money in Nigeria.
They Buy and Sell Transportation Tickets:
Travel agents are always available and nearer to you than the Airline, ship owners and hotel promoters. If you look round you now, you will see one. The traven agents buy these tickets from the service providers at discount rates and sell them to you at the system rate or even with commission.
Furthermore, if you have been involved in a travelling scenario where you have to get to the service provider to buy your ticket and you are told that there is no ticket, and even when there are tickets they are very costly, you will understand what I am saying. Therefore, tt’s easier, faster and convenient to buy your flight tickets, train tickets and ship – cruise tickets from traveling agents near you.
By simple arithmetic of purchase pricce minus selling price, the travel agent makes his money.
The Make Lodging Bookings/Reservations.
How & When Travel and Tours Agency Business Make Money in Nigeria. These business men/women help in making both local and international hotel reservations for their client. Anywhere you are travelling to – locally or internationally – if you intend lodging in a hotel during the course of your stay, you couldcontract your travel agents to help source for suitable hotel that will fit into your need and budget and then book the hotel on your behalf. The commissions they get here is their income.
Read Also: How to start and manage a Travel and Tours Agency Business
They Sell Entertainment Events Tickets
In addition, travel agents sell tickets for entertainment activities/shows all around the world. The travel agents know how to handle the logistics involved in securing such entertainment events tickets that might seem scarce. Big travel agents could be accredited agents for certain local and international event planning organisations.
Again, the commission they earn here is their income. How & When Travel and Tours Agency Business Make Money in Nigeria
Travel Agents Render Consulting/Counseling Services for Individuals and Organizations.
They serve as travel consultants to individuals and organizations, especially for schools on education tour abroad. This is because, you will certainly need better information for where you want to visit.
If you are in a dilemma, choosing between two tourists destination, it will pay you to talk to a travel expert and you will be well guided to make a good choice that you will be glad you did. The service charge here is another way travel agents make money.
How & When Travel and Tours Agency Business Make Money in Nigeria
Vacations, and Excursions Travel arrangements for Clients;
How & When Travel and Tours Agency Business Make Money in Nigeria There could be different structured packages. Travel agents arrange trips, vacations and excursions et al, for their clients. Those agents who are creative can package promotional tour packages – affordable vacation – transportation, lodging and sight seeing in an all-inclusive trip – and market it to interested individuals and organisations. This always give a good opportunity for most people who ordinarily would not want to go on vacation on their own.
These type of arrangements are targeted at schools, corporate organizations and even religious bodies to sell their various travel packages. In this form they make their money (profits) from the sale of their travel packages.
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Visa Procurement
You have to enter into a foreign country with your travelling documents, one of which is the Visa. This offers another business opportunity for travel agents. Therefore, they assist in counselling and procuring visas for their clients. They handle all the logistics involved in obtaining travel visa and transit visa for their clients. These are not free, the clients pay for them all.
How & When Travel and Tours Agency Business Make Money in Nigeria
Protoco Services:
This looks like the erand boy service, but the clients pay for them. Whatever your needs be, a trusted traven agent can carry them out for you even while you are still on your trip abroad.
Just rust your agent, and you will be happy. Remember that there are some information that are not riped yet for your family, but your travel agent can handle all that for you. The fee charged here is an income for the travel agent.
How & When Travel and Tours Agency Business Make Money in Nigeria. There are other legal ways travel agents make their money in addition to all that I have stated above. When clients have immigration challenges the travel agents could help out and charge fees for such services. Some travel agents might be so creative to be able to create non – conventional ways of making money. If you work closely with a successful travel agent around you will understand better.
For Further Information
How & When Travel and Tours Agency Business Make Money in Nigeria. I know you are encouraged to start your travel agent business now. Travel agents make their money in a most straight forward way. The travel agent is a global business and what it does may impact on the credibility of a nation.
Contact us to discuss your business start-ups, business incorporations, business plan, Tax management, and business consulting services. Complete Full Marks Consultants Limited the owners of this website, is a firm of chartered accountants, auditors, taxation and management consultants. There are a lot we can do for you, if you contact us via +234 8034347851 or [email protected].
How & When Travel and Tours Agency Business Make Money in Nigeria
Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.
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