Take advantage of summer to launch your own business

If you are a travel advisor, you are probably able to take a bit of a breather right about now. With all the craziness of the post pandemic demand and everyone just desperate to travel, you have likely been extremely busy. But things are settling down a bit and the summer months can be a slower period for many travel advisors.

Which also makes it the ideal time to take stock of your situation and to ask yourself “Should I launch my own home based business?”

In fact, now would be the perfect time to do that. The busy winter and spring booking sessions are drawing to a close and the Fall season is a few months away.

You will need time to learn a new system and get set up with your marketing and accounting and get your own website.

This would have you ready by the Fall for the lucrative winter bookings!

Home based agents grew substantially since 2020

If you need some convincing, you should know that large numbers of travel advisors have moved to home based since 2020 according to an independent survey sponsored by The Travel Agent Next Door. The pandemic was a big factor in this shift but we now see that more and more advisors are choosing the home based model, including advisors who are new to the industry.

Home based agents are now in the majority in Canada!

Home based agents report earning more

And best of all, the majority of home based agents say they earn more! Yes, that’s right. The majority of home based agents who moved from either a bricks and mortar location or call centre said that they earned more once they became home based.

52% of home based agents surveyed reported they are making between 15% – 100% more income by being home based — with 21.5% saying they are making 51% or more.

That is something worth paying attention to!

Home based agents sell higher margin product

Here’s another interesting fact — home based agents are selling more high-margin product than their bricks and mortar or call centre counterparts.

The shift to higher margin products from package tours, hotels and flights might explain the survey finding that a majority of home based agents are earning more since going home based.

This is likely because they are not mandated to sell ITC or other mainstream products as they now are their own boss!

Choose the right host agency

As a home based agent, you will need to choose a host agency to support your business. Be very careful that you are comparing apples to apples.

Ask how much commission you get to keep. Ask about monthly fees. Ask if there’s a charge for marketing. Ask about the contract and how you can exit if you want.

Choosing the right agency will become a big part of your future success as an independent agent!

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