Love Travelling? Get a Travel Franchise
Mundane 9 to 5 jobs, the same routine, and visiting the same few places in the near vicinity drives us all crazy at some point in our life. A vacation also becomes lifeless if you just sit at home. Often, what we all need is some travelling, to relax and also learn about other cultures and places.
Everyone dreams about travelling to someplace far from home, to someplace with a different culture, and a different environment, just to experience change and get away from our regular lives. Travel agencies are providing customers with excellent travel packages, which are both economic and enjoyable, be it domestic or international. Therefore, tourism franchise opportunities in India are great to be explored.
Facts and Stats:
Franchise opportunities in travel agency are in plenty now that travelling has become a vacation trend, something without which a long holiday is often considered incomplete. And then there are a few people who are travel crazy and hop on a plane to a new place every time they get a chance. This has led to a boom in the industry and is estimated to reach a staggering 48 to 56 Billion Dollars by the year 2020. This is massive, considering the fact that the same industry was at an average of 33 Billion Dollars in the year 2015. Such a hike in just 5 years is something a business person would not hesitate in jumping into.
Online travel franchises:
Online travel agency franchise and their applications on smartphones have been a major factor in such a surge in the industry. For example, MakeMyTrip travel agency, yatra franchise and many more have applications available on smartphones which have made travel booking and organizing extremely easy. It was estimated by a management consulting firm Praxis Global, that the online travel market will touch $13.6 Billion in the year 2021 and account for about 43% of total travel economy in the country, while it stood at $5.71 Billion in the year 2015.
On an overall point of view the online travel bookings in India, which include both flights and hotels, are estimated to increase at a compound annual growth rate (CAGR) of 16% during the six-year period between 2015 and 2021.
Now let's look into a few big franchises in the travel industry and their requirements:
Cox & Kings Franchise: A globally well-known name for tours and travels for both domestic and international travels, a cox and kings franchise cost is somewhere around 10 to 15 lakhs. Being a franchisee under them would mean that you have access to a floor area of about 250 to 1000 sq. ft, This franchise has had a revenue standing of Rs.7176 Cr in the financial year 2017 and is estimated to have grown over 12% in the year 2018.
Thomas Cook Franchise has some of the best deals on holiday travel packages, customizable to a customer's choice. Joining hands with them would require an average upfront investment of about 15 lakhs and a minimum space requirement of 400 sq. ft. They have seen a strong growth of 23% in the Delhi region alone. The franchise has expanded greatly in the southern sector, growing at a rate of 23%, with over 27 franchise outlets and 23 self-run outlets.
The number of travel franchises in India is rapidly multiplying, with each one expanding its branches all across the country, and yet in some aspects, they fail to keep up with the demand. If you are excited about this industry and its growth in the future, feel free to visit the FranchiseBazar website and browse through the offered travel franchises for sale.