2021 is the perfect time to invest in a travel franchise. With billions of people around the world eager to travel once again, there is a huge demand for travel companies of all kinds. If you are considering getting involved in the travel business, a franchise could be the perfect opportunity for you. Offering lucrative profits, flexible working options and support from your franchisor, franchise opportunities are a lower-risk option for anyone who wants to start their own travel-based business and be their own boss.
In 2021, revenue in the global travel and tourism industry is expected to reach US$383,782 million, according to figures from Statista. What’s more, the compound annual growth rate of this industry between 2021 and 2025 is projected to be 24.05 per cent. This means that by 2025, the market volume of the travel and tourism sector could be US$908,844 million. So, what kind of travel franchises and tourism franchises are available in 2021?
Budget hotel franchises
One of the fastest-growing sectors in the travel industry, budget hotels are an excellent investment. There is a constant demand from both families and business people for budget hotels and they are a secure and low-risk investment for potential franchisees. This exceptional demand can also be positively reflected in your profit margins. When you invest in a budget hotel franchise, you have the opportunity to benefit from ongoing support with a variety of aspects of the business, including construction or conversion of the hotel, training and marketing campaigns, which can make life significantly easier, especially if you are new to the industry.
Cruising is a very popular holiday option for many travellers and tourists. One of the great benefits of taking a cruise is the opportunity to experience multiple destinations during a single trip. This makes it an attractive choice to holidaymakers and it also makes a cruise and travel franchise an attractive option to any potential franchisee who is looking to set up their own travel agency business as you will not be short of customers who want to use your services and book a trip with you. With a cruise franchise, you also get the opportunity to work from home and all of your inductions and training are provided by your parent company, ensuring that you have everything you need to generate customers, satisfy the soaring demand for global travel and ultimately make a substantial profit from your business efforts.
Indoor adventure parks
If you have always dreamed of running your own adventure park, you can realise your ambitions with an indoor adventure park franchise. Backed by ongoing support, you can become a part of a successful worldwide franchise that has an established business model. What’s more, when you invest in an adventure park franchise, you will not have to worry about securing your own insurance or checking out the relevant health and safety standards as that will all be taken care of for you.
Holiday rentals franchises
Investing in a holiday rental business that allows you to onboard a portfolio of short term letting properties can be an extremely profitable franchise opportunity. It can be very beneficial for anyone new to the travel business as you can get considerable support from your parent company, including help with pricing, guest communications and check-in. You can also benefit from all the housekeeping and maintenance being taken care of for you.
Serviced apartments are also an excellent option for franchise investment when you want to start your own travel business. As an investor, you have the potential to earn money from both the profits of guests’ stays and from the appreciation in the residential housing market. You can also benefit from the support of the franchisor in setting up everything that you need to start the business. Serviced apartments are currently in demand as they boast the advantage of being naturally socially distanced accommodation, which may be an attractive option for many tourists who are still concerned about COVID-19. Great value for money and offering flexibility for guests, they provide a low-risk investment opportunity.
Home-based travel franchises
Some travel franchises can be home-based, which offers an array of benefits. When you work from home, you can say goodbye to the grind of the daily commute, which may be liberating for many people. What’s more, it’s easier to establish a better work/life balance when you are a home-based worker. Consequently, you could have more available time to spend with family and friends. Importantly, as the boss of your own home-based travel franchise, you can set your own hours and enjoy flexible working patterns that can be tailored to your individual lifestyle. Most of all, you can work in an industry that you are passionate about, achieve your career goals and make a lucrative living.