One of the first things people ask us when they’re considering joining a home-based agency host like TravelManagers is, “how much does it actually cost to become a personal travel manager?”. This blog will outline five key components to consider when joining us:
- Professional set-up: Your home office doesn’t need to be fancy, but it does need to be a dedicated, professional space with reliable tech that helps you work efficiently and make the right impression on clients.
- Insurance and compliance: Investing in professional indemnity insurance and industry-standard financial protections is a smart way to safeguard your business, demonstrate professionalism, and reassure your clients.
- Technology and business tools: Through TravelManagers’ induction and monthly administration fee, you’ll receive the core systems, licences, training, and support you need to run and grow your travel business smoothly.
- Marketing support: Rather than trying to do it all yourself, you’ll have access to a comprehensive marketing toolkit and specialist support to help build your reputation and attract the right clients.
- Time: Success as a home-based Personal Travel Manager depends on consistently investing your time and energy, with an understanding that it can take 12–24 months to build healthy, regular revenue.
In any new business setup, nailing down your start-up budget is a key part of your due diligence. The actual costs involved will vary depending on your personal circumstances and business goals, and your Business Partnership Manager (BPM) will work with you to lay it all out as you develop your business plan. There will be some expenses that you can set aside for later investment; the following list contains our top five must-haves to ensure you are set up for success.
Professional set-up
Your office doesn’t have to be elaborate, but it does need to be a space that reflects your professionalism and expertise whilst helping you to work efficiently. It should be designed to create the right impression with your clients (who may also be new to the concept of a home-based travel advisor). Key components for your office set-up will likely include:
- Dedicated workspace, suitable for face-to-face consultations with clients if you intend to meet them there
- Reliable computer (ideally a laptop so you can work on the move) and second monitor
- Quality headset
- High-speed internet
- Printer/scanner if required
Insurance and compliance
Insurance and compliance costs may not be as fun as a shiny new laptop, but they are a sensible investment for protecting your business, ensuring that you are following industry best-practice guidelines and providing a safety net against the unexpected. Think of it as an investment in your reputation: by having the right protections in place, you’re demonstrating your professionalism and commitment to delivering exceptional service.
As a PTM with TravelManagers, you have the ability to operate under our comprehensive insurance cover, including professional indemnity and public liability, which is provided as part of the overall offering. Given the cost of sourcing comparable insurance independently can be significant, our cover represents a very cost-effective option, with the annual premium payable in two six-monthly instalments. In addition, you and your clients are protected by our system of financial protections, which we believe to be among the most comprehensive and transparent in the Australian travel industry.
Technology and business tools
As part of our onboarding process, we run a comprehensive induction program for all new PTMs. Over three days, you’ll meet our NPO team and get kitted out with all the tools you need to succeed, including:
- headshots for your website and personal brand and marketing
- a start-up stationery kit
- supplier lists and agent logins
- operations and procedures manuals
- licenses such as ATAS, IATA, and ATIA membership
- travel technology installation
- a customisable marketing program
- a modular website that you can personalise
- a newsletter system for email marketing
Your monthly administration fee covers an extensive range of tools and assistance, from systems training and business mentoring to accounts and ticketing support. We have two business models to choose from, depending on your individual needs and goals:
- Business Pro model: $370 + GST per month (90/10 commission split)
- Lifestyle Plus model: $170 +GST per month (80/20 commission split)
Marketing support
Establishing and growing your reputation as a personal travel manager is paramount to building a successful business, but it takes time and expertise to do this well. As an independent travel advisor, you could pay a consultant to devise a marketing plan and create a marketing toolkit, thus freeing up your time to focus on selling travel, but how well will they really understand you, your business and your goals?
That’s why we will provide you with your very own, very comprehensive marketing support, paired with all the tools you need to put it into action. You’ll also benefit from access to our team of marketing gurus, who will provide as much support as you need.
Time
One of the biggest misconceptions that people have when it comes to becoming a home-based travel advisor is that it can be aside hustle that you can fit around your other commitments.
The reality is that, although our PTMs thrive on the freedom and flexibility offered by our business model, you will only get out what you put in. In other words, your success will be a direct reflection of how much time, care and attention you invest in establishing and running your business, so if you need to come prepared to give it your all.
It’s also important to keep in mind that it often takes 12-24 months to start generating a healthy amount of revenue, so you need to have adequate financial resources in reserve to get through the early, lean times.
Are you ready to talk business with us?
Behind every successful personal travel manager, you’ll find a significant investment in building their reputation, client base and business tools. The pay-off is an exciting career that offers freedom, flexibility and endless opportunities to pursue your individual picture of success.
We’d love to talk you through the costs, practicalities and possibilities involved in becoming a PTM, click here to get in touch.
