5 Travel Agency Franchise Alternatives that Make Better Investments
Published On: October 23, 2023Categories: Uncategorized4.1 min read
Opening a travel agency franchise can be a viable business opportunity, but be aware of the high costs and potential limitations. Here’s why you may want to reconsider — and what to research instead.
The appeal of the travel industry is undeniable. Helping others plan their dream vacations and exotic getaways is tempting, especially for those looking to break free from the corporate grind. The number of people turning to travel advisors to book bucket-list trips is up. At least 27% of travel advisors reported in June that more than half of their clients are working with a travel advisor for the first time, according to the American Society of Travel Advisors.
While opening a travel agency franchise might seem like the logical next step, it’s essential to weigh the pros and cons. High costs, fierce competition, ease of online booking, and the unpredictable nature of the travel industry can make it a challenging venture.
If you’re unsure about whether to further explore the world of travel franchises, consider these five alternatives that might offer a more stable and profitable investment:
Fitness: With health and wellness becoming a priority for many people, owning a fitness studio can be a lucrative venture. Whether it’s a gym, yoga studio, or specialized fitness center like CrossFit, this industry shows strong growth potential.
Vacation rentals: The vacation rental market has seen significant growth in recent years, fueled by the rise of platforms like Airbnb and Vrbo. Nearly 85% of Americans planned to travel this summer, according to a survey conducted by The Vacationer. As travelers increasingly seek unique, home-like environments instead of traditional hotels, vacation rentals are becoming a go-to option.Franchising with a reputable vacation rental brand can provide the operational support you need to succeed, from property management systems to marketing support. Unlike a travel agency that may deal with destinations worldwide, a vacation rental business allows you to focus on a specific local or regional market to offer personalized experiences larger chains can’t match.
Pet care: The pet industry is booming, and services like pet grooming, boarding, and even pet-sitting are in high demand. Americans spent an astronomical $136.8 billion on their pets in 2022. If you enjoy working with animals, a pet care franchise is a recession-resistant opportunity.
Specialty travel: Instead of a full-fledged travel agency, consider a niche travel consulting business. Whether it’s planning honeymoons, adventure trips, cruises, or eco-tours, specializing in a particular type of travel allows you to offer expert advice and curated experiences that generic travel agencies can’t cover.
Event planning: Event planning is a booming industry and for a good reason. From weddings and corporate events to birthday parties and anniversaries, there’s always a demand for professionals who can organize and execute memorable occasions. In 2022, the average cost of a wedding was $29,195. Wedding and event franchising offers the perfect blend of creativity, business acumen, and client interaction. Plus, with the backing of a reputable brand, you’ll have access to training, marketing support, and a proven business model.
Find Your Match with Complete Weddings + Events
If you’re looking to make a mark in the event planning and wedding industry, you’ll want to align yourself with a brand that not only has a proven track record but also offers comprehensive services that meet the diverse needs of today’s clients. Complete Weddings + Events’ services range from photography and videography to DJ services, lighting, and more. Clients don’t have to juggle multiple vendors — we offer an all-in-one solution for their events. Our multi-service approach not only sets us apart from competitors but also provides multiple revenue streams for franchisees.
We’ve been in the business since 1974 and have planned and executed more than 300,000 events and 13,000 weddings. Our longevity provides assurance our business model can be successful, and that we can provide consistent quality of work to achieve customer satisfaction. As a franchisee, you benefit from this established reputation, making it easier to attract clients and secure business.
Starting a new business is no small feat, but with Complete Weddings + Events, you’re never alone. We offer extensive training programs covering business development, operations, sales, accounting, and more. Ongoing support through weekly webinars, monthly meetings, and annual conferences ensures you stay up to date with industry trends and business strategies.
Many people are drawn to entrepreneurship for the promise of a better work-life balance. Complete Weddings + Events delivers on this promise by offering a home-based business model. This flexibility allows you to manage your time effectively, giving you the freedom to balance work commitments with personal life.
The events industry is lucrative, but what truly sets Complete Weddings + Events apart is its cost-effective franchise model. With an estimated total investment ranging from $56,820 to $71,070, the franchise is financially accessible for aspiring entrepreneurs to enter the market.
Own an Event Planning Franchise
Get started to learn more about partnering with Complete Weddings + Event to launch a franchise in the event planning industry.
financially accessible for aspiring entrepreneurs to enter the market.