Because of the deregulation of the airlines and other factors, there have been over 200,000 brick and mortar travel agencies that have closed their doors over the past several years. Does that mean travel agencies are no longer needed or available to the public? Absolutely not.
Several companies, including Expedia, Travelocity and Orbitz among others, saw this trend developing, so they developed online booking programs and entered the marketplace. Because the Internet was becoming so popular and accepted as a secure and reliable way of conducting business, their businesses have literally exploded.
But wait … several brilliant entrepreneurial visions also saw this online phenomena developing. Specifically, the online travel agency business model is especially interesting to the network marketing industry. Here are some of the reasons that they are expanding on the concept of online travel agencies:
– The travel industry is huge! Over $ 1.3 Trillion dollars are spent annually in the US on travel and over $ 7 Trillion is spent worldwide.
– The 'Baby Boomers' are now reaching retirement age and currently represent a large percentage of the travel dollar space. They have money and are ready to travel.
– The Internet has been validated by the masses as a trustworthy and important place to purchase goods and services. It is here to stay.
– As more and more people see that advantages of having their own personal homebased business, an online business like a travel agency really makes sense.
In the past, network marketers have had to learn expert selling and closing techniques to achieve good success with their products and services. Also, many of the products and services that they have historically been reliably high-priced compared to similar products purchased in regular stores. It takes people with perseverance and a strong will to really make it to the really high levels in network marketing.
However, using the business models and programs that have been developed for the travel industry, these same network marketers can promote their businesses and reach high levels of income from the comfort of their own homes much easier. The reasons include:
– The product (travel) is in huge demand and people are already in the habit of using online agencies for their travel purchases.
– The technology of the Internet is allowing individuals to compete with large companies. It's been proven that people would prefer to go to the website of one of their friends rather than the site of a large, nonpersonal company.
– Network marketers can earn commissions on their own personal travel, rental cars, concert tickets, golf trips, etc.
– The cost to get started is low and profits can be made almost immediately
– It's a great way to help other people and make a significant part-time or full-time income on the way.
– There are basically no sophisticated selling and closing skills that need to be developed.
So, with the familiarity of the brand names that are available and the simplicity of using the Internet to shop for travel goods and services, there is an exciting new and profitable opportunity for network marketers to capitalize on the travel industry.