10 Essential Lessons to learn before going into business with private travel agencies
Doing partnership with a private travel agency is not a cup of tea. There are a lot of things which you need to be aware of and which you need to learn. This post of today reflects some useful and essential lessons to learn before going into business with travely agencies.
- Select a Business Partner Wisely
It is mandatory that you select the business partner wisely. You need to check the internet for this cause and find out which private travel agency is operating for many years. Usually the companies that have mentioned their physical location, contact number, and date of operation clearly are the ones which you can go with. Those who hide all of such things could be fraud. So, you are to be very wise while choosing a business partner. Feel free to get in touch with popular travel companies or website owners and submit your business proposal to them.
- Submit powerful business proposal / proposal of partnership
You must remember that no public or private travel agency or another company of any field will show interest until or unless you have submitted a highly impressive business proposal / proposal of partnership. Choose the format of this paper wisely and make sure it is impressive enough to keep you high in the eyes of business owners.
- Evaluate the nature of your potential partner
Evaluate if your potential partner has been a person with positive personality. If it is so then you are lucky because they would not put any pressure on you. On the other hand, the persons with somewhat rude and arrogant behavior can always give you big shocks. It is up to you that whom you work with and whom you reject to submit partnership proposals to.
- Partnership should be 50:50
In case you have not invested anything, you reserve no right to ask the travel agency owner to offer you partnership with ratio of 50:50. Another case is that when the discussion between you two is about to final, you can offer to invest almost equal the amount of their total investment. In this situation, you can freely ask for partnership of 50:50, otherwise whatever they offer you in terms of share you would have to accept.
- Share responsibilities
It would be less stressful when you start sharing responsbilities as well as incoem. It is good if you take half of the burden and show off your dedication. Make them understand that you are very serious for the growth of this business.
- Choose what you want, not what is best
Yes, it is true that you have to choose what you want for your travel business, not what is best. Sometimes there come a lot of challenges. In order to deal with all of them, you are to go you’re your mind and think of solutions yourself. Do not be one of them who fail to prioritize just because they like to follow the footsteps of successful persons in the same field.
- Do not be too greedy
Once you see that the business has started growing, you can certainly have a word with the travel agency partner. But this does not mean you are given the permission to be greedy because in no business this works well. Show patience, maturity, and responsbility towards the business and stop being greedy. Money will surely roll-in to your pocket but doing things hurridly can lead you to suffer.
- Sometimes you must admit defeats
It is true that no one is perfect in doing all things. There would definitely be some things you are expert in and the rest are not good to with. In such a situation, we highly recommend that you admit your defeat. Give it your best shot – know what your heart and brain say and follow them. In case things do not go on smoothly then you have to admit that you cannot perform this particular task, and quit to move on towards something better.
- Don’t take decisions suddenly
Do not rush to take any decision. It will be hard in start to deal with multiple things in a business of partnership. But once you learn every small point, you will be better able to take wiser decisions. Whatever you do, do not take big decisions till you have understood all the things about the travel agency.
- Everything needs to be in writing
All the important stuff should be in written form. It is a better idea for you and your partner so that none of you forgets how the contract was formulated. Not only this but also you should record the major discussions and outcomes of the business. In case of any misunderstanding, you can refer back those pages and talk to each other to come up with a mutually beneficial decision.
It is true that things in start may look difficult but they are not going to be once you keep in mind above points. These may look minor but are actually very important, and you will realize their significance once you step into the practical life!