While the tourist travel industry is booming, the business travel industry is always hot. From flying to meetings to relocating, there are many reasons for business travel. While airlines have upgraded some seats and meals for business travelers, many want upgraded technology. For the past two years, Amadeus Airline Solution has been adding to the business intelligence capability hoping that the major players will catch on. Thankfully, the bigwigs are starting to notice Amadeus’s efforts.
While technology is constantly evolving, the need for non-stop Wi-Fi is something that not only affects the business-minded traveler. Wi-Fi is much needed, as are comfortable settings. Business flyers know the best of the best, and usually have a preferred airline, and sometimes even a preferred airplane. One area that has not been conquered yet is a business-minded travel agency.
Travel agencies are usually geared toward vacations. The business industry deserves a good selection of business-minded travel agencies. If you are a merchant, or are looking to jump into the business world, this is a great opportunity. Of course, as with any business, there are things that you need before opening your doors (or website).
First off, you need to know about the industry. Do your research. Look into hotels, rental cars, and airplane tickets. Know their rules and regulations for cancellations. Also, be sure to have your own rules for cancellations, as without one you are liable for a chargeback. A chargeback can cost you upwards of 270% of the original charge, and this can damage even a profitable business. For this, you need to make sure that you have a travel agency merchant account and chargeback insurance. Both are available with EMB, as well as other processors. While chargeback insurance cannot overturn the entire chargeback fee, it can reduce it. This can help you, and help your customers. While the customer does not pay for the chargeback, the merchant typically raises their rates to cover the chargeback. This makes the customers suffer, and it can cause you to lose business.
While business technology is catching up with business travelers, there are still aspects of business travel that are lacking. Namely, a business-minded travel agency. This is a great way to enter into the business world, if you know what to do.