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TravelCarma’s Guide to building a Travel Startup

The travel industry is a resilient one downturns in the economy cannot stop it, weather conditions and terrorist attacks cannot derail it. The industry continues to enjoy robust activity despite challenges, because people will always want or need to travel, whether it’s to a business meeting or conference or to enjoy holidays with friends and family. This overall need to travel that’s shared by average citizens and corporate denizens alike means that there’s never a bad time to launch a travel startup. However, before venturing in the travel industry as a startup you must have a clear mindset and you should know the reason behind this crucial step in your life that might define your future. The travel industry is huge and there is cutthroat competition and there is no gainsaying the fact that only the fittest and the best businesses will survive and thrive. The travel industry experiences a higher rate of mortality of startups than the general average. The reasons why it is a hard arena may be attributed to the infrequency of purchase, the consolidation of incumbents on truly large companies, the unbeatable marketing spend of the big companies on customer acquisition, the fragmentation of the supply and more. So you need to ask yourself some questions before taking on the Goliaths of the industry.

Questions to ask before building a travel startup

1) What is the addressable market?

You need to ask yourself whether you really have something new to offer and is your product better than what currently exists? If your startup idea ticks any of the two boxes, you can certainly grab a few eyeballs and create a niche for yourself. Emerging markets have plenty of opportunities to offer but there are still challenges to be overcome there.

2) What is the level of competition in the travel industry?

Since you want to venture into the travel business you must have pondered over all the aspects which might pose as challenges in the future. There are businesses that are ready to spend huge amounts of money in marketing and advertising and there are others that have the latest Online travel agency software.to serve the customers better and in lesser time. Where do you stand?

3) How much will I earn as a travel startup?

The travel industry is predominantly commission-based so if you want to start a travel startup then every time you sell a flight, hotel or a package, the supplier would give you a percentage of the revenue. This is where getting your name known will be important, though, as international tour operators aren’t going to offer an unknown business favourable rates.

4) Do I have the necessary capital or the initial capital to run my business?

There are many small businesses that may require just a few things as a computer, a phone and an Internet connection. Bu the initial funds you require really depend on the size of the market you are aiming to serve and extent to which you want to scale your business. You must factor in the legal costs to register your business, basic staff, technology cost, office rent and last but by no means the least, advertising and marketing costs to promote your startup across various channels online and offline channels.

5) Do I truly understand the intricacies of working in the travel industry – the problems and their solutions?

The travel industry is huge and the competition immense. There are well-funded startups that are spending humongous amounts of money on brand awareness and acquiring customers. There are also those companies which have been in the industry for a very long time and are providing great services to their loyal customers. Why should a customer come to you? Do you have a unique selling proposition in any aspect of the travel world? Does your product/service solve a problem that travelers face, in spite of the prevalent competition? If the answer to either of these questions is yes, you can surely go ahead with your venture. Start-ups do not have any additional capital or reserves to fall back on, and during an economic downturn, if people spend on travel they prefer to go to a service provider where service satisfaction is guaranteed and not experiment with a new entrant in the market.

Tips for Travel Startups

1) Don’t get discouraged by naysayers Those who have been in the travel industry for a long time are quite skeptical about new things as they have seen too many startups rise and then burn millions of dollars failing greatly. Listen to what the industry veterans have to say but don’t get discouraged by them, because things that didn’t work in the past may work today. Try to learn from the companies that have failed in the past. Challenge the status quo, but be humble and open, and do surround yourself with some Jedi Masters.

2) Form good relationships

It is a very healthy thing to form good relationships in the travel industry because it promotes sharing of information that will surely come in handy in the long run. Not only this, the informal network of friendships you form will help you build your reputation which is a big asset and will help you stay in business for a long time.

3) Join a travel trade association

This will help you build a good reputation and trust within your business circle and also develop confidence in the minds of the customers.

4) Get a franchise

If you like the idea of launching a “plug and play” business then a travel franchise could be your ticket to success. With a franchise, you purchase the rights to use a tried and true concept, as well as the name recognition and business procedures that come along with it. However, you do have to conform to the franchiser’s established methods of doing business. Or perhaps you feel that starting your own business might cost you a humongous amount or it’s just that you are not confident enough to start off on your own you might as well consider getting a franchise of a well known brand in the travel industry. This will not only help you get the experience and learn the ins and outs of the travel industry but will also lend you the confidence to start your own business later on in life.

5) Work for a vision, money will follow

In the first couple of years it’s advisable not to look at profit. Instead, focus on making your name in the industry and get as much business as possible. Once this is achieved you’ll have increased bargaining power for your commission rate and access to a greater number of holidays and hopefully will be able to start looking at profit and budgeting. Of course running a business amounts to revenue but when you are passionate about something and have a vision in your mind you tend to perform better and keep improvising your business to create a better business model. Money follows good performance in business.

6) Understand the problems of the travel industry

The travel industry no doubt is huge and the volume of travelers is expanding everyday but as we mentioned earlier, there is cutthroat competition. There are brands that spend heavily on advertising and marketing. They tap a huge customer base by spending massive amounts of money. And there are others that have a great viral coefficient and become huge with low expenditure on marketing their business. They are a product of referral business. Owing to competition, getting conversions would not come easily. The key is to offer a product or service that addresses a real pain point among travelers.

7) Keep up with technology

Keep yourself updated with the best technology related to the travel industry. There are Travel Agency Booking Software.available that will help you reduce the number of man hours involved in doing a work and reduce your costs considerably. Investing in good technology that simplifies your work will get you a good return on investment (ROI).

8) Have something new to offer If you have something new to offer, your odds of becoming a successful business are higher. This way WOMM(word of mouth marketing) serves as an excellent source of publicity. It means that if you have a product that fills a gap in the market, it will have a viral effect and your business is sure to make a mark in the travel industry. In this way you will not have to spend enormous amounts of money in customer acquisition paired with an strong focus on ROI. If you have a product that focuses on areas that have not been dealt with till now and it is a need of the hour then you can surely create a lot of value in that area provided that you work in the right direction.

Examples of some successful travel startups in recent times

Sharing economy, also known as collaborative consumption it is a truly new concept that is shaping up the future of travel industry. It has exploded in recent years thanks to consumers’ increased awareness of idle assets. Consumer-to-consumer vacation rentals and ride share bulletin boards have been around for years, but efficient online payments and trust in e-commerce have made sharing a viable alternative for the mainstream. Startups like Airbnb, BlaBlaCar and Lyft have enjoyed tremendous growth. They now operate on such a scale that they are matching mainstream hotels and transportation companies in convenience, and usually beating them on price. Airbnb connects home owners with travelers and makes a profit out of both. BlaBlaCar has highly successful app-based ride-sharing business. Lyft – Yet another San Francisco-based company that has been described as a “Couchsurfing on wheels” for connecting people who need a lift with people with a car. Another segment that’s seen tremendous growth, particularly in emerging economies is branded budget accommodation. When it comes to affordable stay, Oyo Rooms certainly deserves a mention. It is an Indian startup that is now being replicated around the world. It offers branded rooms at prices that no other player in the budget segment offers today and promises to provide the same amenities and the same awesome experience across all its rooms. Their goal is to change the way people stay away from home. Travel is still seen as an expensive activity and people plan and save months before they actually travel. Therefore, there has been a surge in travel planning startups in the last year or two. Online Travel planning startups like Tripomatic, Tripit and Triphobo have been successful in capitalizing on the need for apps that simplify trip planning. While the above apps are popular among travelers, they overlook a very important segment group travel. Planning group trips can be a huge headache and unfortunately there are still hardly any startups that fill that void. India-based startup MyTripKarma.com aims to address this problem through its end-to-end group trip planning app that allows group travelers to collaboratively plan, organize, budget and book all their trips within one app. Looking at these examples, there are immense opportunities in the travel industry. If you can find them and fill the void you will surely make a success story of your own.

Travelcarma.com – Our Tour Operator Software.helps inbound and outbound tour operators sell tours and activity packages online, manage bookings, inventory and also manage agents and their commissions. For more information please visit: http://www.travelcarma.com/

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3 Simple Questions to Ask a Dealer While Purchasing Your Next Car in DC

While purchasing a car, it’s easy to get caught up in various rules and lose track of the important details. There are a hundred million questions that can drive you around and still bring no clarity. The major concern of car buyers relate to rules which are specific for every different city. Washington D.C., nicknamed DC, has an estimated population of over 6.7 million, amongst which many people do not belong to the native area. It makes it difficult for them to remember every rule. Therefore, knowing which questions to ask your dealer will reduce the complexity of purchasing your next car in DC.

Asking the following simple questions will help you to make your car purchasing process simple in DC:

1. Can I see the Title Certification?

Asking for a title certificate is the most essential question to ask to your dealer. A title certification is a proof of ownership and you should only proceed when the dealer shows it to you. In order to transfer the title in your name, you will require a DC identity proof or driver’s license along with an accurate odometer reading of the car. The Washington D.C. Department of Motor Vehicles will charge you $26 for the title transfer. Once you have transferred the title in your name, make sure that you register it at your local DMV office.

2. Did the Car suffer any Damages?

It becomes difficult to ascertain the condition of the car without reviewing any vehicle history report. A vehicle history report will help you to identify if the car requires any repair. It will also tell you about the car damages. You have to look up the Vehicle Identification Number of the car and carry out a history check. The report will include information relating to accidents and flood damages.

Many a times, a seller projects inaccurate odometer readings. It can lead you to make an uninformed decision. Therefore, it is a wise move to review the vehicle history report in order to avoid any future expenses.

3. Is the car protected by the Lemon Law?

If a new car breaks down after numerous repairs during the first 2 years of purchase or within travelling the first 18,000 miles, it is known as a ‘lemon’. According to the rules of DC, if the car is not working properly even after four attempts or is in repairs for more than 30 days, the car is branded as a lemon. The lemon law warranties the car buyer to either obtain a replacement of the car or retrieve the refund of the amount spent on the car. Thus, the presence of the lemon law can largely impact your decision to buy the car you have selected.

Purchasing a car from a dealer can be a complex task. Remembering the different rules pertaining to DC can make it more difficult. However, asking simple questions will clear out the fog and help you in making the car purchase simple in DC.

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3rd Asia Pacific Otolaryngology Conference

The majority of research in the field of Otorhinolaryngology and Head, Neck Surgery as well as across different domains within otorhinolaryngology is completely devoted to the pursuance of high-quality, unparalleled and modern therapies for several of the pathological predicaments that come under this area. Investigation in persistent sinusitis, scalp and throat malignancy, and sleep medication are distinctive concentrations. Most preeminent scholars in this area are usually beckoned to present theme lectures and work on printing and organizational committees. The field is obtaining an important investigation drive with papers emerging in several of the most reputable publications in the area of otorhinolaryngology. Research professionals from this field also cooperate extensively with the activities of departments of Pathology, Allergy, Radiology, Immunology, and Neurology, to name a few. Prominent scholars and experts currently engaged in such research activities will be taking part in the highly-anticipated upcoming international conference in Sydney Australia, being organized by the highly reputed and renowned organization, Bioleagues Worldwide.

Rise Of Multichannel Vestibular Implants

This analysis is being performed to assess the security and efficacy of a recently embedded tool to support people who have lost either the majority or all of their vestibular responses (internal ear equilibrium capacity). The vestibular portion of the internal ear sensations directs inclination and revolution throughout actions such as walking. This data stimulates responses that assist in supporting stability and support the eyes and keeping sight steady while walking. Those who have dissipated the majority of their vestibular responses in both ears oftentimes undergo asymmetry, dizziness, anxiety wandering around in the dark without tripping, and obscured or shaky sight throughout the movement of the head. Gentamicin poisoning is one of the most usual reasons for this predicament, but there are additional problems, too. As part of this investigation, scientists are examining optic and head gestures in people who have suffered from the lack of internal ear equilibrium capacity, before and following operational embedding, activation, and removal of a modish automatic implant intended to estimate head inclination and to excite the vestibular nervure in the internal ear. This tool, the Multichannel Vestibular Implant, is similar to a cochlear implant besides the fact that it is created to record movement instead of noise and to excite a separate portion of the internal ear.

The effectiveness of the Multichannel Vestibular Implant in this analysis investigation (which will be looked at in detail at the upcoming Otolaryngology Congress in Australia, an ENT National Conference, you shouldn’t miss out on), is research-driven. This implies that the Multichannel Vestibular Implant is not recommended for retailing by the FDA (Food and Drug Administration) as of yet, although the organization is permitting the application of the Multichannel Vestibular Implant in research activities as part of a research-purpose equipment privilege. This strategy diverges from a conventional clinical trial for mutual destruction of vestibular response in that it includes operational embedding of an electric stimulator. This is the primary instance of the Multichannel Vestibular Implant being applied in people. Versions of it have earlier been examined in mammals. Most research in this area, make usage of this implant in just one ear.