How to Develop a Tourism Business
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Introduction 1. Tourism is travel for recreational, leisure or business Purposes 2. Temporary, Short-term movement of poeple to destination outside their resident places.
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Decide which sector of tourism you would like to focus your business on 1. Transportation services. This sector involves transporting tourists to, from and around the tourist destination. 2. Travel agencies. Travel agencies are the 1 stop shop for everything involved with visiting a place, including transportation, accommodations and attractions.
3. Hospitality. A hospitality business pertains to any food or beverage establishment that tourists may frequent.
4. Guided tours and tour guides. A guided tour service or professional tour guide is a tourism business that specializes in providing informative and entertaining tours through an area's local attractions. 5. Accommodations. These include hotels, motels, bed and breakfasts, hostels, rental houses, condos and any other place tourists may stay while travelling.
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Take your Geographical Location Into Account Your local tourist attractions are good indicators of what would and would not make a successful tourism business venture. For example, if your area is secluded from the populace and dense with wineries, then guided winery tours, local bed and breakfasts, and airport transportation services are all viable business options.
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Size up the Competition
Thoroughly research the tourism businesses in your area before you decide which business in tourism is right for you. You will want to choose a tourism sector that is not overly congested, and one that you can contribute something unique to.
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Write a Business Plan Your business plan is the blueprint for your tourism business, and should include the following sections: 1. Executive summary. Describe your business's purpose, name, location, personnel needs, tourism business management staff, market sector, competition, marketing plan and financial projections. 2. Tourism business summary. This should detail how the business's ownership will be distributed and the start up requirements (funding, assets and location).
3. Products and/or services. You need to outline the products and/or services your business will be providing for tourists.
4. Analysis of the market. Provide information about your target market and your competition. 5. Tourism business strategy. Describe how you plan on running your business, marketing your business and pricing your product or service. 6.Financial summary. State your projections for your business's expenses and income.
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Procure the Necessary Funds Present your business plan to potential lenders and/or business partners in order to obtain the start up and operating capital you will need to run your business in tourism.
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Select Business Location Business
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Obtain All Applicable Business Licenses Get the necessary business licensing through your local government's business regulatory agency.
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