Opening a Travel Service Agency

Jul 29, 2014

The travel industry is consistently one of the most lucrative in the economy. Generating upwards of a trillion dollars annually is a great industry to join. Starting a travel service can be a way to gain a foothold in the ever-expanding industry.

Starting a travel service can be done in several different ways. Initially, it is important to decide where to operate the service and what type of service will be offered. Home offices can be efficient but being an independent contractor in an established office could also suit well. Then there are various types of travel services that can be offered from corporate to niche travel. All these factors must be addressed in order to identify clients and focus your efforts. Being too narrowly focused though could take away from potential earnings.

Clients are the key to any travel service. There are many types of clients from newlyweds going on a honeymoon to college students headed to spring break, the importance of knowing your clients will prove valuable as each will expect something different. Marketing, networking, and cold calling will all be extremely important in reaching various clients and getting the business off the ground.

A travel services agent wears many hats and is knowledgeable in all aspects of travel. Generally, they handle booking flights, cruises, trains, accommodations, cars, shuttles, tours, creating itineraries, coordinating weddings or other special events, advising visa and passport requirements, and all other aspects of travel. This requires a high level of attention to detail and in-depth research. Working with a niche market would require additional services.

Travel services are usually billed on a commission basis. Salaries range immensely with established travel service specialists earning six figures. Early in thought while building a client base part-time work is advised as salaries are closer to twenty thousand dollars annually.

Start-up costs can vary depending on the type of travel services business. It is important to factor in many elements when considering the costs that it will take to get the business up and running. Catering to leisure travel for instance is quite a contrast to catering to business travel.

No matter which type of travel service you start, a travel merchant account could make a travel services business run more fluidly. A travel merchant account would give the business the ability to accept credit and debit card payments which could be especially helpful for agents who work from a home office or online.

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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 on 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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