How to Create Sought after Vacation Packages for Your Travel Business

Jun 11, 2015

Are you interested in the travel industry or already own and operate a business and are interested in how to create a vacation package? For that matter, what benefits can packaging offer your business? When it comes to the travel and tourism industry, packaging is all about leverage.

Packages involve two more travel products combined into a unique product. A package usually consists of both a lodging and an activity component. These unique packages offer a great opportunity to earn greater profits or increase your rate of your return.

Packages can boost your occupancy during any slow seasons you experience. They can also decrease the likelihood that you will have cancellations. People are less inclined to cancel after they’ve spent the money on a package deal.

When forming your packages, start with considering the “needs” and “wants” of your customer. What would appeal the most to your customers? Leisure travelers are going to want more than just a place to lay their heads. They’ve finally escaped work and their regular routine. They are going to want places to go eat, sites to go see and events to dress up for.

  • Create packages that tie into popular trends.
  • Create packages that promote your special features (award winning restaurant, pet friendly rooms, spa, etc.).
  • Create packages through partnerships with other travel and tourism businesses that are in your area.

One of the biggest aspects to consider after identifying your customer’s needs and wants is to identify your target market. If your market consists mostly of families, you might partner with local theme parks and museums. On the other hand, if couples are your target market, you should steer more towards cultural offerings and winery tours.

While identifying your target market and forming your packages, you should also consider the advantages a travel agency merchant account can offer you. If you are planning to start a business in this industry, you will have many things to consider and arrange – payment processing is one of them.

Since the travel industry is considered to be “high risk” by traditional lending sources, a travel agency merchant account will provide you with the safe, efficient and hassle-free payment processing your business will need. Fortunately, providers like emerchantbroker.com specialize in offering businesses categorized as high risk merchant accounts. Obtaining a travel agency merchant account will help you make sure that every “I” is dotted and every “T” is crossed as you plan for your business.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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