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How to choose a travel franchise that's right for you
We understand that owning and running your own travel business is a big step to take, so it’s vitally important that you make the right decision when choosing which franchise to buy into. Everyone’s situation is different, so only you can truly know what’s important to you in a business venture, and whether it’s the right time in your life – personally and financially – to commit to becoming a franchise owner.
With so many homeworking travel companies out there promising the world and trying to entice you in with incentives, it’s important to take the time to do in-depth research. Here are some things to consider when deciding which travel franchise is best suited for you.
Support
This should be one of the key things you look for in a travel franchise. Does the company offer the levels of support you’ll need for your business to be successful?
Support should be more than just a helpline or chatbot. Will your customers receive support when travelling? What aspects of your business and even your well-being will be supported? These are important questions to ask.
Also consider what happens out of hours if there’s an issue that needs resolving, or if you make a mistake (we’re all human after all). Is there any insurance on offer? When looking into the support package, be sure to find out whether any of it comes at an additional cost to you.
One of the best ways to get a feel for the extent of the support available is to contact other business owners within that franchise and ask for an honest opinion, or spend time at the company’s head office. This will help you to determine whether all the promises made are true.
Technology
When you’re running a business, you need technology and tools that will allow you to do your job brilliantly. Start with the booking system – do you have to use multiple different platforms to package up the perfect holiday for your customers, or is everything in one place? Do you have the freedom to build your own packages, or are you restricted in terms of what you can sell? Are you in control of your margins? Can you work across multiple devices from anywhere in the world? How are the quotes created, and what does the content look like for customers?
Don’t just look at what the company offers now, but also enquire about how they’re investing in their technology and what developments they’ve got in the pipeline.
Training
Aside from the initial induction programme, look at what opportunities each franchise can offer you to upskill and develop your knowledge further. Are there business coaches? Do they offer supplier-led training and FAM trips? Are there specialist training programmes for specific markets? Can they help you with the softer skills needed to run a business? Is there an on-demand learning platform, or ways to share knowledge with other franchisees? Knowledge is power when it comes to running a business, so make sure the company is invested in your development.
Regulatory responsibilities
What support and guidance is on offer to educate and protect you as a business owner? Does the company have an in-house legal department that can offer guidance?
Commission
Given commission is how you earn, you need to know how and when it’s paid. Some companies pay commission before the customer travels, and some after. Also find out whether commission varies based on booking type, if it’s capped, or whether there are targets you need to meet which might impact your earnings.
Supplier relationships
To be able to offer the best choice for your customers, you need to get full visibility of the suppliers you can use. Is there any product support for using suppliers who aren’t contracted? Can you sell low-cost airlines? Are you eligible to claim supplier incentives? The last thing you want is to join a franchise where your hands are tied in terms of what you can offer your customers.
Values
When you’re reaching out to members of each franchise community as part of your research, make sure their values and ambitions align with yours – as this will give you an idea if the company as a whole are going to be a good match for you.
Marketing
Marketing is crucial to growing your business and reaching new customers, so if this is something you’ve never done before, going it alone can be daunting – especially if creative flair isn’t one of your strengths! Check whether you need to put together your own marketing assets and collateral, or whether there’s a centralised marketing team who can supply content for you. What would your web presence look like? Would you be provided with an optimised web page, or would you need to build one yourself?
Also, consider whether there’s a CRM system to help you manage your database and ensure that your customer workflow is as efficient as possible.
Financial protection
Financial protection gives you and your customer peace of mind, so do your due diligence and check which regulatory bodies the business is affiliated with, and how they protect customer monies. Dig a little deeper and find out whether the protection only applies to certain booking types. In addition to financial protection, check who pays any credit/debit card charges or transaction fees – remember, these cannot be passed onto the customer.
Communication
Home working can be isolating, so communication within the business must be on point. Do they just rely on weekly email updates, or do they work hard to create a genuine sense of community that allows you to make friends and build strong connections? Are there networking opportunities and events where you can meet fellow franchisees? Are there ways of interacting with each other virtually? Does the company go above and beyond to keep you updated? Not only is it vital to connect with other business owners, it’s also crucial to build relationships with individuals and teams at the head office.
In conclusion, starting your own travel franchise provides you with freedom, flexibility, friendships, and plenty of rewards – so long as you choose the right company that can provide the right support to help you unleash your potential. If you’re interested in finding out more about what Travel Counsellors has to offer, book a spot at one of our upcoming events or get in touch with us today.