Do you wanted to start and make money by opening a travel agency in India, then today’s article is must read for you, as we will provide you with all required knowledge that will enable to start travel agency in India.
How to start travel agency in India
As per some facts and statistics, Travel and tourism industry is one of the largest industries in India and a very significant employment generators. According to the UN’s World Tourism Organization, the travel and tourism industry provides 6-7 percent of the world’s total jobs directly and much more indirectly through the multiplier effect. The travel and tourism industry in India is ranked 12th among 184 countries in terms of GDP contribution and the tourism industry in India is set to grow at 7.8% per year during 2013-2023. The travel and tourism market in India estimated at USD 117.7 billion in 2011 is estimated to boom to USD 418.9 billion by the year 2022 and so there is plenty of opportunity for new entrepreneurs starting in the travel and tourism industry as travel agents.India has become a go-to destination all across the world, on account of relatively cheap rates and the fact that English is widely spoken. For this reason, the tourism industry is expected to add $440 billion to India’s GDP.
How to Choose Legal Entity for a business like Pvt Ltd Company or LLP etc.
There are different business entities that a travel agent can plan as a business plan, as business plan plays a very vital role in identifying the right business entity for you. There are options to either go for a PVT Ltd company, One Person Company or Limited Liability Partnership. type of company registration is must for those who want to grow their business slowly and steadily. It is very important for you to keep in mind to choose the best option for the growth and prosperity of the travel agency.Entrepreneurs can also opt for proprietorship’s with a trademark, in cases where the entrepreneur wants to have a unique brand name, that is unavailable to be registered with the Ministry of Company Affairs – due to the naming guidelines.
GST Registration for the Travel Business
Its important for all business owners to adopt GST Registration, so that you can collect GST from your customers on the service incurred by you.
Trademark Required for the Travel Business
If you own an online travel agency then you need to form a brand to give a unique identity to your travel business, also This means that you need to ensure that you have full ownership of the brand, through a Trademark Registration you will ensure that you can gain benefits from the brand. Trademark Registration also needed in case your business is not online.
Government of India Approved Travel Agent
Getting Government approval to start travel agency in India is not required but it would be a good idea to get a government license if you’re operating Travel agency for the need to establish trust and get benefits from the government.So the application must be filed with the Ministry of tourism in the prescribed format to become a Government of India approved Travel Agency.
Become an IATA Agent
Steps to follow in order to apply for IATA agent are as follows:
- Produce proof that you are working for a legally registered travel agency
- Provide financial records showing the fiscal solvency of your travel agency.
- Ensure you meet the local criteria as specified by the IATA.
- Visit this link-http://www.iata.org/services/accreditation/accreditation-travel/Pages/application.aspx to start your IATA registration.
- Select your country application below and read carefully the Application Guide
- Submit your Application as specified in the Application Guide for your country
- Pay the Accreditation fee as specified in the ‘Application Guide ‘
- If everything is as per the standards of IATA you will Receive your license as a IATA travel agent after investigation and further procedures if required.