Travel Agency – Upscale Business Plan

Travel Agency - Upscale Business Plan

Panache Travel Group, (PTG), offers small-scale luxury tour packages that are escorted by professional guides for those who have high standards. To better serve clients across the country, it will be based in Salt Lake City (UT) and New York, New York. Panache Travel Group’s founders, employees and agents are both experienced travel professionals and travelers who are passionate and knowledgeable about the services Panache Travel Group will offer.

PTG will focus in the luxury market, which is a growing segment of the travel industry. Individuals, couples, and affinity group members of high-net worth individuals travel at least one per year for leisure. Clients are looking for the ultimate experience in travel and expect the highest quality accommodations and activities along with exceptional service. PTG will be more competitive than others in this market because it offers smaller, more intimate package tours that give clients personal attention by their hosts. PTG will cultivate this niche with one-to-one contact with potential clients; personal contact with sophisticated travel agencies whose primary clientele targets our market; broad out-reach programs through various media; special events; and an inter-active, full-service website. Panache Services offers all aspects travel technology. PTG founders and employees have personal experience with luxury retailing, travel, local languages, history of destinations, and personal services to high net-worth individuals.

To broaden market share and increase brand recognition, the luxury tour packages initially will be offered at slightly below market rate. Therefore, the short-term operating margins will be in the low to middle range. PTG will be able to raise the price of its tour packages to market rates once it has established a loyal clientele and improved brand recognition.

1.1 Objectives

1. Realize hefty sales in year 1, then remarkable growth in years 2 and 3, with correspondingly higher profitability.

2. Panache Travel Group branding should be developed to increase customer retention, retain Panache resellers’ mind-share and price power.

3. To create new PTG sales channels, establish and maintain strategic alliances with service suppliers nationally and internationally.

4. The industry’s highest level of client satisfaction.

1.2 Mission

The mission of Panache Travel Group is to provide unique, luxury tours and travel experiences, for a niche market of discriminating clients, which results in their satisfaction, evidenced by repeat bookings as well as favorable word-of-mouth comments. PTG strives to be an expert in luxury travel and is known for its exceptional service. Smart people will ensure that everyone is satisfied with PTG’s professional and first-class service.

1.3 Keys of Success

  • Segment and target luxury travelers within the larger travel industry.
  • Panache Travel Group can be promoted and positioned as experts in the luxury travel segment.
  • Personal interaction, media, and other branding activities can help you communicate the unique qualities and quality of PTG products.
  • You can build repeat business by building a base loyal, satisfied customers.

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