If you have a passion for travelling and helping people with their itineraries, then setting up a Travel Agent business might be just right for you. You might be wondering how to start in the first place, which is understandable. Of course, you can just find existing ventures willing to sell business to save time. However, sprucing up an old travel agency could be just as challenging as starting anew. On the other hand, a brand new establishment enables you to have full control of everything.
If you follow these simple steps, you’re on your way to becoming a Travel Agent in Vietnam in no time.
Step 1 – Create a Business Plan for your Travel Agency
Basically, a Business Plan is just a set of objectives you want to achieve, the tools and materials you’re going to utilize, the specific processes in order to achieve those objectives and some provision to assess those objectives. To make it more managed, you can use various online templates which help store your business plan in a more accessible way.
Step 2 – Conduct a Market Research
The reason why you’re going to do this is to find a possible niche for your business. Sure, you’ll have competitors. But the question here is how are you going to do differently?. What do you think is the niche that your competitors are not serving well? For example, are the travel agencies nearby your place caters to budget travellers? How about LGBT travellers? If these niches are not served, probably you can be the first to do so.
Step 3 – Develop a Brand for your Company
This pertains to the image you want to leave on your clients. If they visit your website or they go to your office, this is how they’re going to feel. For example, a Travel Agency with a tagline that says “A Destination for the New Millenium” would imply New Destinations and New Activities for the New Millennial Travelers. In order for your company to build and establish a brand, you need to brainstorm about the Mission, Vision, and Goals of the company.
Step 4 – Deal with the Legal Side
This pertains to the process of naming your company and having it registered to the right authorities. You need to decide as well what kind of business organization you want to pursue. Would you want a Limited Liability Partnership? Or you want to join a corporation?
Step 5 – Determine your Funding Strategy
If you have enough money to fund your business, it’s better. If not, you can apply for a business loan. You can also find a business partner who can share resources with you. It’s your call. What you think would do good for your company, do it.
Step 6 – Choose a location and hire employees
You can scout for the location of your business or you can hire an agent to do it for you. This goes as well in the process of hiring for your employees.
Step 7 – Market and Launch your Company
You can start by making a website, flyers, and a motorcade event to launch and promote your business. You should have an appropriate marketing budget for this one as you’re just starting to collect potential customers.
Buy Travel Business in Vietnam or Start from Scratch
Starting a business on a clean slate has its advantages, but it will take time to build a brand. Fortunately, you can now buy company rights, including its branding. From there, you can refurbish that business and still apply the steps mentioned above.
One pro tip in finding viable SMEs to buy is to look for websites posting small business for sale ads for travel businesses. If you buy them, you’ll have some convenience like finding a location and securing some business papers.
If you need help to buy or sell a business, you can contact Easy Buy Sell Business Vietnam. They are among those known Business for Sales Platform that can help you do so.
