Travel Agency – Upscale Business Plan

Panache Travel Group (PTG) is a company which specializes in small, escorted luxury tour packages for discriminating clients. 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 and employees are travel professionals and experienced travellers who are passionate about the services Panache Travel Group offers.

PTG will be focusing on luxury travel in the rapidly growing industry of travel. PTG’s main clients include individuals, couples, and affinity groups of high net-worth people who travel for pleasure at least once a year. These clients want the best activities and accommodations, along with the best service. PTG will provide a unique package tour experience that is smaller and more personal, giving clients the chance to be treated by the hosts in a way that is different from other companies. PTG will create this niche through one-to-1 contact with potential clientele; personal contact and connections with high-end travel agencies whose primary clientele is our market; broad outreach programs through different media; special events; an inter-active, fully-service website. Panache Services has all aspects to our travel technology. PTG’s founders and staff have extensive experience in luxury retailing, travel, travel history, and local languages.

The luxury tour packages will initially be offered at slightly less than market rates in order to broaden brand recognition and expand market share. As a result, short-term operating profit margins are projected to be in low to mid range. When PTG has established a loyal core clientele and increased brand recognition, allowing the company to increase the price of the tour packages to the market rate, operating profit margin is anticipated to rise.

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. Establish and maintain strategic alliances with service providers nationally, internationally, and with travel professionals to create additional PTG sales channels.

4. We are the industry leader in client satisfaction.

1.2 Mission

Panache Travel Group’s mission is to create unique luxury tours and travel experiences that appeal to a narrow market of discerning clients. It achieves this satisfaction by repeat bookings, positive word-of-mouth reviews, and high-quality recommendations. 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 to Success

• Segment and target luxury travelers within the larger travel industry.
• Panache Travel Group should be promoted as experts in luxury travel.
• Through personal interaction, media, or other branding activities, communicate the unique characteristics and quality PTG offerings.
• You can build repeat business by building a base loyal, satisfied customers.