Travel Agency Business Plan

Players in the travel and tour line of business are establishments who offer products and services that has to do with traveling, traveling documents, airline ticket sales, hotel reservation, car rental services, tours and other travel related services as well as consultation where they assist travellers with whatever information they might be needing to travel and offer them suggestions relevant to their purpose of visit.

Over the past decade, Nigeria has experienced increased growth in many sectors, one of which is the travel industry as people tend to move out of the country for various reasons ranging from schooling to tourism and even relocation, this has opened up a huge market in the Nigerian travel industry as well as players in the travel and tours line of business as now they can further expand the services offered to serve a large number of people. According to the Nigeria Tourism Development Commission, the Nigerian travel industry has become a very large and recording fast growth with a current worth of about $4 Billion.

Millions of Nigerians travel a lot, especially by air to other countries and within the country, and most times they need travel agents to help them sort out all their travelling needs and suggest destinations which will suit them and fit in their budget, plan their itineraries and book their tickets.

It is evident that the travel agent business is a very profitable one even though its faced with a major challenge of airlines creating online portals where passengers can personally purchase tickets which reduces their reliance on travel agencies, this challenge doesn’t in any way crash the travel agency markets as they are still relevant in other aspect of travel. The travel agency churns out huge amount of profit and has huge market potential thanks to the high number of travellers in the country who need travel agencies to support their trips. Daily, thousands of people purchase tickets, commute from one point to another, go on sightseeing, travel to various tourist destination and visit friends and loved ones. The least they can do is request a ticket from the travelling agency.

The travel agencies in Nigeria have become a profitable business lately, as the industry appears to be one of the fastest developing industries in the world, and many people are curious about starting a business in this industry.

Table of Contents

i.    Introduction2

1.0 Executive Summary2

1.1 Benefits3

1.2 Objectives4

1.3 Vision4

1.4 Mission4

1.5 Keys to Success4

2.0 Company Summary5

2.1 Company Ownership6

2.2 Location and facilities6

2.3 Start-Up Summary7

Table: Start-up Funding7

3.0 Service8

3.1 Service Description8

3.2 Competitive Comparison8

3.3 Technology8

3.4 Future Services9

4.0 Market Analysis9

4.0.1 Market Summary9

4.0.2 Market Needs9

4.0.3 Market Trends10

4.0.4 Marketing Plan11

4.1 Target Market11

4.2 Industry Analysis12

4.3 Challenges of Travel Agencies in Nigeria12

4.4 SWOT Analysis13

4.4.1 Strengths13

4.4.2 Weakness14

4.4.3 Opportunities14

4.4.4 Threats14

4.5 External Environmental Analysis14

4.6 Marketing Strategy14

4.7 Publicity and Advertising Strategy15

4.8 Sales Forecast16

4.9 Sustainability and Expansion Strategy18

5.0 Strategy and Implementation Summary18

5.1 Competitive Edge19

6.0 Management Summary20

6.1 Management Team20

6.2 Personnel Plan20

7.0 Financial Plan21

7.1 Breakeven Analysis21

7.2 Projected Profit and Loss22

7.3 Projected Cash Flow24

7.4 Projected Balance Sheet25