A financing option often overlooked that is...
It’s remarkable how many misconceptions there are about travel franchises. If you don’t think a travel franchise can be viable, you should give your head a shake. And you should read this article.
Travel franchises have changed a lot over the past twenty-five years or so. While they don’t do what they did before, travel franchises still provide many different services for holiday makers.
When the internet was still a new, burgeoning phenomenon in our society, many people pondered on what industries it would “disrupt”. Clearly, the music, television, and to a slightly lesser degree, the film industries have all changed quite a bit. As have retail businesses such as clothing and book vendors. Many people thought that travel agents were in danger. And, to be fair, they were kind of right. There are many different websites and apps that allow people to book their own travel and many people do avail themselves of these services. So what do travel franchises do?
If you think travel franchises are in danger, it would behoove you to take a look at some numbers. These figures paint a very clear picture: there are a lot of customers out there for travel franchises.
In 2019, U.S. citizens took over 83 million trips outside the country! And that doesn’t even include travel within the country. The travel and tourism industry is booming. There are several factors that have contributed to this. First, even modest increases in discretionary income for people all over the world mean people have more money to travel. Second, the cost of air travel and cruises has come down considerably, making travel far more accessible than it once was. Lastly, Millennials, and other generations as well, are well documented as preferring to spend their money on experiences rather than objects. All these factors mean there is a ton potential business out there for travel franchises.
What kinds of services do travel franchises provide their clients? How can they stay competitive against online alternatives?
“But people can just book their own holidays”, you might be saying. “They don’t need a travel franchise to do it for them”. Maybe not. But do you need to go to a restaurant? Do you need to order delivery? No, you could just cook the food yourself. Or you could at least pick it up yourself. But you don’t have any food in the fridge and it’s raining. And sure, you could go to the store to buy that cool denim jacket, but it’s so much easier to order it online and then it comes right to you.
People have demonstrated repeatedly that they will pay for convenience. And that’s what travel franchises really offer. Some trips are a real headache to book for yourself. Travel franchises make travel easier in many ways.
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