Buying a franchise is a great way to get into business without exposing yourself to the risks that come with running your own start-up, but deciding to go down the franchise route is just the first step. Now you have to decide what sort of franchise you’re going to buy. Your franchise is likely to become a huge part of your life, so it pays to choose an area that suits your strengths and interests. Many people are drawn to a travel franchise because, after all, who doesn’t love to travel? This can be a great option, but you shouldn’t expect it to be one long working holiday. Here are some things to consider before investing and buying a travel franchise.
1.There will be less travelling than you expect
A travel franchise is not a good choice for wannabe jet-setters. You’ll be organising other people’s holidays rather than going on holiday yourself, so most of the work will be office-based or sometimes a home based franchise opportunity. Sometimes working for a travel company will involve going abroad to scout out new locations and meet hotel owners, but as you’ll be working for an established company, it’s likely that most of this work will already have been done.
2.The travel industry is changing
The recent collapse of Thomas Cook showed that the travel industry has changed a great deal in recent years. Online price comparison sites and low-cost airlines have led to the decline of the package holiday. It’s easier than ever for people to book their own trips and so the travel agent is becoming rapidly defunct. That’s not to say that you shouldn’t invest in a travel franchise, but make sure that it is a company suited to the reality of travel in 2019.
3.Your revenue will be highly seasonal
Although many people enjoy a bit of “winter sun”, you can’t escape the fact that the travel industry is overwhelmingly skewed towards the summer months. If you want to live off the profits of your franchise, you need to be diligent about saving some of your summer profits to make up for the shortfall in winter.
Like any franchise, a travel company is not a quick route to easy money. However, for those willing to put in the hard work, it can be a profitable and rewarding choice.
Find out more about a range of travel franchises by taking a look around the Franchise UK website today.