Do I HAVE to pick a niche when starting a travel agency?
Being confident about a certain destination or type of holiday will lower your learning curve when starting out. You’ll become more confident, which will project to your customer, and you’ll sell more holidays.
It also means you can be more targeted with your marketing, so if someone is searching for ‘Honeymoons to the Maldives’, you can have a page on your own branded website saying ‘Honeymoons to the Maldives’.
Picking a niche doesn’t mean that you’re stuck to that market forever. One of the great benefits of running a small business is that you can be nimble and adjust/add markets when you see an opportunity.
Also, just because you’re selecting a certain niche to advertise doesn’t mean you can’t sell anything else. If your business specialises in hiking holidays in Nepal, but a friend asks you to look at their beach holiday in Spain, of course, you can help with that. You’ll have access to hundreds of suppliers, along with expert one to one support to help service that enquiry.
So, when we speak about selecting a niche, we’re really asking what is your business going to advertise? You’ll still be able to adjust and sell other types of holidays, but the core of your business is likely to be around your chosen specialism.
How do I know which markets I should be interested in?
Really, this comes straight back to you – and what you’re interested in.
Where have you been and what type of holidays do you love?
In an initial conversation with me, I’ll be honest and tell you how those markets look. If the markets you’re interested in sound sensible, and we think this is a partnership that could work, we’ll invite you to a business planning meeting for a more in-depth look into your business.
We’ll talk you through the pros and cons of several markets before producing a forecast of your P&L (profit & loss) for your first 12 months in business. This will help you make a qualified decision on whether to start your business.