It’s all about the money!

• 13 Mar 2024
• Kelly Cookes

Let’s face it, when it comes to the world of business, making money is an essential part of measuring success. When setting up a travel business - budgeting for overheads, marketing, staffing and working with travel suppliers to negotiate commercial deals can feel like an overwhelming prospect. Commercial negotiations are not for the faint-hearted yet these, alongside building purposeful partnerships are an essential part of building a successful and profitable travel business.

That’s where being part of a wider organisation like The Advantage Travel Partnership can help – we use our global scale and leverage to negotiate best-in-class commercial and marketing support and are the top distributor for 90% of our key partners. We are proud of the long-standing relationships we’ve built with industry operators in the airline, accommodation, tour operator, cruise and ancillary sectors – these partnerships are key to helping us consistently deliver the best commercial offering to our members, helping them to earn more.

My tips for travel businesses to increase your earnings are:

• Take advantage of increased commission offers, incentives and any other strategies partners put in place to help you increase your earnings
• Build relationships with supplier partners – look at the long-term gain and not just short-term benefits.
• Take your team on the journey – make sure they know which suppliers to support and why, plus where the most profit can be made.
• Invest time in learning about new products and stay updated with what is happening in each sector that you operate in.
• Network – use industry events to build your contacts.
• Be part of a consortium. You will benefit from the increased buying power plus multiple other products and services.

Flexible Solutions To Suit Your Business Model

We welcome applications from start-ups to established businesses of all shapes and sizes. Our membership models provide the flexibility to support you however you need, including offering a fully managed service solution for both leisure and corporate travel agencies, and preferential rates on everything from merchant providers to business insurance and travel bonds.

Author

Kelly Cookes

Leisure Director of Advantage.