Business of Travel Agency is very popular in the world as many people like to travel and they hire the travel agency for guiding them for traveling. Business of Travel agency is very profitable venture and it is also growing business if it is planned well. If you are thinking of starting a business of Traveling agency then you should consider the compliances which is required for a new business and also register your business with Udyog Aadhar so government will give you many benefits. Before starting a business you should do a market research also it will help you to plan a better business development model.This article talks about incorporation of travel agency in India so it will give you an idea that how to start travel agency in India.
How to Start Travel Agency in India
- First step of any business is Market Research, it is important step for starting a business because market research will give you an idea about the business, profit making, competitor, prices of services and other things related to business. Market research will help you to make a better business plan. Planning is also very important to run a business for long time so you should do a market research first.
- After market research you have to make a business model, then have to execute the business plan. You have to find a good location for your office and it should be convenient to customers. You have to hire some employees because it is a team task and also you need a good investment for your travel agency so you have to find investor or have to apply for loan in case if you don’t have enough money.
- You have to incorporate your travel agency as a legal entity. You can start your travel business agency as a company or a partnership firm or an LLP Registration for the same. If there are two or more partners in business then you can start your business as private limited company or partnership firm also and if you are sole person in your business then you can incorporate your business as a sole proprietorship firm also.
- Trademark registration is highly recommended for your business because without trademark registration anyone can use your trademark and brand name and make money on behalf of your brand name so it is highly recommended. After trademark registration no one can copy your brand name and if anyone copy your brand name then he will be liable under trademark laws.
- Udyog Aadhar registration is also recommended for your business because Udyog Aadhar is mandatory registration under Ministry of micro, small and medium enterprises. After obtaining Udyog Aadhar you will get many benefits from the government schemes. You will get loan on low interest rates and you will also get subsidy from the various government schemes and you will become eligible for Mudra bank loan so Udyog Aadhar will give you many benefits and you can register your business under Udyog Aadhar through online process for which you have to visit the official website of Udyog Aadhar and then you can register your business there and there is no requirement of any documentation. So you should register your business with Udyog Aadhar for attaining benefits from the government schemes.
- GST registration is important for every business whose turnover is more than 20 lakh rupees and in some state limit is 10 lakh rupees and in case of failure of GST registration you will be liable for imprisonment or fine or both. So you register your business under GST. GST is important for Travel agency because you have to mention your GST identification number on your transaction receipts. And also GST return filing is also important for your travel agency because you have to file your GST return in every prescribed period whether it is quarterly or yearly.
- Promotion is also important for your business so you can promote your business on social media or television. Social media is very popular for promotion of business and people will attract to your business through promotion.
If you are thinking of starting of starting a business of travel agency then you should consider the above given points it will help your business in long run. Registration under Udyog Aadhar is very important because it will give you many benefits under various government schemes. GST return filing is also important because in case of failure you may have to face legal problems so you should consider above given things.