How to start a Travel Agency Business in Nigeria
Have you heard of Travel Agency business in Nigeria and how people are really making huge profits from it? The rumours are true.
In fact, the travel industry in Nigerian has been growing consistently over the years. Also, the Nigerian Tourism Development Commission confirmed that the travel is rising to be one of the fastest growing in the world and currently its worth not less than $4,000,000.
This article contains guidelines on how to start a travel agency business in Nigeria. Want a piece of the case? Follow through carefully.
Travel agencies are involved in helping travellers by providing them with necessary services to meet their travel needs. Such needs may include visa counseling, booking and purchasing airline, purchase of train and bus travel tickets, lodgment, and tours.
What makes this business promising is that Nigerians are known travel a lot, either for the sake of business or pleasure. Consequently, business is always open for travel agents because travelers will always require a conducive atmosphere that will foster the smooth running of their trips.
A travel agent is also responsible for other things which include sourcing for cheap and favorable airline tickets, hostels and other bonuses for their clients.
If you wish to go into travel agency business in Nigeria, it is advisable that you have a working experience in a registered travel agency or a very good traveling experience. If you already possess these qualities stated, you are good to go, and you can start up your travel agency business in Nigeria.
Basically, in Nigeria, there are two major ways of setting up a travel business. You may choose to start as a freelance travel agent or as a certified and licensed International Air Transport Association (IATA).
Why Travel Agency Business Is Lucrative in Nigeria
The travel business is very promising and lucrative in Nigeria. Its market structure is quite vast. A study of the demand analysis proves that the business promises huge profits as so many people are continually looking for travel agents to help them with services that will make their trips smoother and more conducive.
Traveling is one thing that Nigerians will always do. As such, people will want to buy tickets, wish to go on excursions, take trips, want to lodge, go on vacations and so on, so you will surely not go short of business.
Another feature of the business is that it is very competitive as there are a whole lot of Travel Agencies all around Nigeria. However, there are several opportunities in the business, starting from making merchandise from travel consultancy to individuals and organizations to arrangement of trips, vacations, and excursion services for people, also procurement of visa services, setting up lodgment and sales of tickets for entertainment activities.
Guidelines to starting a Travel Agency Business in Nigeria
For you to succeed in this business, you are required to have some basic skills. You should also consider some crucial factors. These are my focus in this section, I will give you some hints and advice on how to really prosper in the Travel Agency Business.
First and foremost, you need a basic knowledge of the use of internet and other places where people can easily access and source for information. You also do not need much of machines as you will do most of the work by hand. The task is that you will be the one to go around and source for clients.
After considering all the skills stated above, you are required to consider the following basic factors:
1. Know the Business
If you do not have the experience or knowledge in the day to day activities of travel agents in Nigeria, you are advised to start as an independent travel agent. Here you will get to learn what the business really entails from personal experience and from people who are already established in it.
These will guarantee you the necessary experience and exposure you need to establish and start your own company as time goes on. This way you would have built your own clients’ list and an advantage to get your own business started within a minimal period of time and without much stress.
2. Get Licensed to Start a Travel Agency Business in Nigeria
Also, you must go through the certification training set up by the IATA in other to make your practice legal and duly licensed. Apart from the required certification, you may get an added advantage by getting a degree in tourism and hospitality.
3. Know the Financial Implication for starting up the business
After getting all the required exposure and knowledge you need for the business, you need to consider the cost-effectiveness. Source for funds. Get a secured office space, buy gadgets such as a computer, business line, communication gadgets and needed furniture as well as electricity to guarantee smooth operation of the agency.
4. Draft a Travel Business plan
For your business to thrive, you need to draft a marketing and feasibility plan. This way you will be able to source for funds and investments, as well as clients in order to foster your business’ growth.
Your business plan must be aligned with your feasibility study, this will give you an outline and an insight on how your business should run is there any short-term long or medium term. You can get samples of travel agency feasibility studies and travel business plans online. Try to get some.
5. Set up a Management Body
You can start as a sole runner of the agency, and as the business grows you can start employing staff to aid it’s smooth running especially with the paper works and all.
6. Secure a conducive environment for your travel agency business
The best area to set up a business like this include airports and its environs, car hiring centres, flight booking channels, hotels and so on.
7. Get Registered
Make sure you register your agency with the appropriate agents of government such as corporate affairs commission on Nigeria and other similar organizations.
Conclusively, you should bear in mind that travel agency business in Nigeria is very competitive. So you must try your possible best to acquire a goodwill for your agency. This you can do by providing your clients with satisfactory services which will make them come back to you when they need your services later. They may also refer you to other customers who will patronize you.