A higher percentage of independent advisors reported having storefront agencies in 2020 compared to 2019, 26% compared to 16% respectively. Below the graph illustrates median incomes by each of the four revenue streams, comparing it to last year’s medians. (The service fees, consultation fees, and other categories included only advisors who reported income from that specific revenue stream).

For suitable formulation of strategic business decisions and plans, travel agency accounting can be the concrete support needed. Pestronk went the extra mile for HAR and provided us with the sample independent travel agent/ host agency contract above! Independent agents typically earn higher commission rates than those who work with host agencies.

Team Benefits

When Travel Quest Network began hosting agents in 1998, they made sure that working closely with their agents to reach a common goal was the focus of their business. Host agencies are a key partner to help you become a successful independent travel agent. They help legitimize you as an agent, especially https://www.bookstime.com/ early on, and provide access to resources and their established network. In your quest to become an independent travel agent, finding the right host agency is like finding the North Star. The right agency will work with you, guiding you through the challenges, and creating a clear path for success.

• With so many options, it can be overwhelming to figure out which is right for you.
• Avoya Travel has also witnessed growth, according to Steve Hirshan, the company’s senior vice president of sales.
• Travel suppliers ask for an agency’s accreditation number to pull the agency up in their system.
• For you, as an independent agency, these negotiated commission tiers are a big benefit of aligning with a host agency or consortium.

Because they are not splitting their commission with a host agency, they can keep more of their earnings. This can be particularly valuable for agents who have established their own client base and sales strategies. One of the most important criteria to evaluate is whether there is an ongoing fee. Often such costs can add up quickly, and without scrutiny, they can become unexpectedly expensive. Considering this, going with a host agency with no ongoing fees may be the best option, as it can provide more consistency and stability in running your independent travel business. Believe it or not, there are multiple ways an agent can earn money beside travel agent commissions!

How to Choose Between a Host Agency and Going, Independent

And if you live in or sell to clients in FL, WA, HI, or CA, it’s imperative that you’re adhering to their respective SOT requirements. The complexities of travel during the COVID-19 pandemic have underscored the value of a travel advisor’s services like never before. Current challenges have also generated a surge of interest in host agencies, according to some industry observers. This report profiles independent advisors with 3+ years of selling travel. 624 respondents met our criteria to be included in this particular report.

And after that, they have to keep track of anything else that gets charged to them (like parking at the airport). There are even some agents who will update their accounts for you from time to time. Being an independent travel agent comes with its perks, and it also means you’re developing your own business. The best way to stand out among the crowd is thoughtful, creative and consistent marketing. All that said, if you do sell a lot of a certain vendor(s), it’s perfectly acceptable to ask about commission info for your top vendors. Even if a host/franchise/consortium doesn’t spell out the commissions you’d get in detail, you can A).

Partner with a Host with the Most

You can think of your role as an independent travel agent more like a consultant. Your clients, both new and returning, will rely on the recommendations travel agency accounting you give them when planning their soon-to-be cherished experiences. As an independent travel agent, your clients rely on your experience and advisement.

Of course, a love of travel is a necessary passion to become an independent travel agent, but it will not be your defining feature. Rezdy is all-inclusive accounting software for travel agents, hotels, and events. It helps you to manage your listing, create custom itineraries for your clients, and track expenses. One of the most important steps in becoming an independent travel agent is finding your people. Your first clients are often in your personal network, and booking travel for your family and friends is a fantastic start. Once you’ve nailed your first trip, request that your new “clients” tell their friends about your services, and so on and so forth.