Firstly, it is worth noting that the travel industry is arguably the largest industry in the world. Because there is so much variation within the industry, there are six main segments which business have been known to base their concept off. It could be worth using these for inspiration to see how you can take your existing experience and apply it to a travel business.
The travel industry can be divided into tourist boards, travel services, accommodation, conferences and events, attractions and tourism services. Depending on the type of lifestyle you lead and how much travel you want to do yourself, it could be worth taking a closer look into the types of travel businesses within these segments, that you could set up.
Some of the most popular areas that travel businesses function in are providing a particular service to tourists and travelers like hotels or entertainment. On the other hand, you could set up a global enterprise, which allows you to spend more time traveling.
These businesses typically take a little more work to set up and begin making profits, but it can be highly rewarding to work towards this lifestyle. Not only that, but it will be easier to reach a higher number of people who are interested in what your business has to offer.
Sample Business Plans for Travel Industry
1. Travel Agency Business Plan
A travel agency is a company that provides travel and tourism-related services to individuals, families, groups, and corporate organizations. A travel agency can also provide outdoor recreation activities, airline booking, car rentals, cruise trips, hotels, travel insurance, package tours, guide books, VIP airport lounge access, arranging logistics for luggage and medical items delivery, public transport timetables, car rentals, and bureau de change services.
2. Vacation Rental Business Plan
A vacation rental company is a company that allows travelers to rent private properties for a short time. These rental properties are often located in vacation destinations and feature more benefits and greater flexibility than staying in a hotel.
Please note that some vacation rentals, particularly condominiums or apartments, offer many of the same services hotels offer their guests, e.g., front desk check-in, 24-hour maintenance, in-house housekeeping, and concierge service.
3. Glamping Business Plan
A glamping business is a business that provides facilities for campers who need glamorous accommodations. Glamping offers accommodation and facilities that are more luxurious compared to ‘bare-bones’ camping, to give travelers the best of both worlds. Glamping is outdoor camping with amenities and comforts (such as beds, electricity, and access to indoor plumbing.