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Read this before you invest in a franchise: Your guide to due diligence

Franchising enables you to start from scratch, follow a proven business model and scale up fast.

But we understand investing in a franchise is a huge decision that shouldn’t be taken lightly. Because you are more likely to succeed if you enter your business prepared, here’s five questions you need to know the answer to before you sign on the dotted line.

1. Will you be competitive?

Many people wonder what sort of holidays they can book if they become a travel consultant with us and if they will be able to offer competitive prices.

We have over 450 plus suppliers which means you can book thousands of holidays with us including ski, cruise, city breaks, cottage holidays, affordable package beach holidays and tailormade multi-centre luxury trips from safaris to escorted tours.

Not only are prices competitive but we also have over 40 key trade partners who give us exclusive offers – deals that you won’t find anywhere else.  

Check this out: Right now our KTP partner NCL Cruises has an exclusive one-week all-inclusive Greek cruise for just £1475pp for a balcony cabin (includes £300 cashback to spends on flights). Tempted? We are!

2. Can I do it without any travel experience?

We believe that anyone can do it, regardless of their background as long as they have the passion and drive to be successful and follow our business model.

Why? Because we’ve helped thousands of people launch successful businesses from scratch. While our competitors recruit from within the travel industry, we recognise that those from other professions have many crossover skills.

Around 98 per cent of our franchisees have never worked in travel and more than 66 per cent start their journey part time so that they can keep their existing income until their business grows.

And it does.

Did you know? One couple, the McCardies (pictured below), have created a multi-million pound home-based business from scratch. And they had no previous experience in travel. 

The fantastic duo Mark & Isobele McCardies

3. Can I find enough customers?

Many new franchisees worry that they won’t be able to find clients but we teach you how to find them. According to the The New York Times, every one of us knows 600 people.

You may not think you do, but when you add up parents at a local school, acquaintances at your gym or sports club, your neighbours, not to mention family and friends, you’ll soon get to 600.

And even if you only book a holiday for a quarter of your contacts, as most people take 2.5 holidays a year, that’s plenty to kickstart your business particularly if those people refer you to their friends.

Did you know? 27-year-old consultant Elliott (pictured below) launched his business in his spare time alongside his full-time job. He has over 200 customers, despite only working evenings and weekends and starting out by booking holidays for people he knew.

Franchisee Elliott

4. Will there be enough training and support?

It can be daunting starting a business from home in an industry that you’ve never worked in. However, at The Travel Franchise you’ll be allocated a personal business development manager (BDM) with years of experience in the travel industry. Our ratio of BDMs-to-consultants is the best in the industry, we have two dedicated to cruise and we are currently recruiting even more. You’ll enjoy support from our entire operations team – again, every one of them has a lifetime of experience in travel. In addition, our key trade suppliers offer assistance with planning itineraries and they run free webinars to explain new products and what sells well.

Did you know? BDM and head of learning Dave helped two people set up a Facebook live webinar about MSC Cruises. In 10 minutes they had received three bookings and made over £1k profit.

Our fantastic team of Business Development Managers

5. Is now the right time to launch a travel business?

Finding the best time to take the leap is personal, but in terms of the travel industry, the timing couldn’t be better. Covid-19 has not just encouraged more people to start home businesses, it has also encouraged people to make the most of their time off and travel the world with the people they love the most. Yet times are still uncertain and this is where you can fill a gap. More than ever before, holidaymakers now want support from a real person who can help them make last-minute changes, reschedule reservations and remove any stress ensuring your customers return again and again. 

Did you know? Two of our consultants, Candy and Nathan (pictured below), joined in December. By January they had sold £70k-worth of holidays in their first month. 

Franchisees Candy and Nathan

We hope you found the answers to the 5 most asked questions useful! Don’t forget to watch our video tour, which will give you all the information you need to make a decision. Click here to access it.

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