Best Host Travel Agency For Beginners

Best Host Travel Agency For Beginners – Host Agency Reviews has conducted an annual survey of travel agencies since 2016. HAR’s 2021 survey results provide an opportunity to examine income trends for a subset of consultants not reported by the Bureau of Labor Statistics: independent travel consultants.

HAR’s 2021 survey results provide an opportunity to examine income trends for a subset of consultants not reported by the Bureau of Labor Statistics: independent travel consultants.

Best Host Travel Agency For Beginners

Best Host Travel Agency For Beginners

This year, more than 1,100 travel advisors completed our survey. In this report, we look at the income of independent travel consultants. What does it mean to be independent? We consider those who hold their own accreditation to be independent consultants (rather than just using a host agency or selling trips as employees of travel agents).

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However, independent subdivision consultants are far from cookie-cutter. Some independent consultants have dozens or hundreds of ICs or employees, and some work alone. Some are from home and others are their own showrooms. Some host in addition to having their own accreditation, while others are also franchised.

Our 2021 Travel Agent COVID Report details the impact of COVID on the industry, this year’s report findings have destabilized revenue potential and changed business among independent consultants.

In this report, we throw out terms like median and interquartile range (scary in my opinion). I understand that you probably didn’t get into the travel industry because of your love of statistics or that extra edge in your Scrabble game. But don’t worry, just click on the word and you’ll get a short definition for the common man. You can try it right here! Interquartile range.

This year, HAR used median income instead of median income. Why have we changed after so many years? Data Analyst Dr. According to Maga Gee, “the median provides a more reliable report of what an independent consultant could have done in a reporting year because it is not affected by extreme values.” (Especially during an epidemic).

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With that in mind, the survey data indicated that the median income for full-time independent consultants will drop to $3,100 in 2020.

Despite the dramatic drop in income, COVID did not change the trend in potential earnings as work hours increased. Independent consultants who worked full-time generally earned three times more than independent consultants ($3,100 compared to $1,020, respectively).

The chart below provides an overview of income for part-time and full-time independent consultants, including the average decrease in income between 2019 and 2020.

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In 2020, median income for part-time consultants decreased 92% and for full-time consultants 94% between 2019 and 2020.

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During the coronavirus outbreak in March 2020, 78% of independent consultants sold travel full-time. However, during the pandemic, the percentage of full-time counselors dropped 51 points to 27%. Here’s a scene:

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In 2020, before the pandemic, 73% of independent consultants sold travel as their main source of income. This is a higher percentage than in 2019, when only 67% sold travel as their main source of income.

During the pandemic, the percentage of independent consultants selling travel as their primary source of income dropped 19 points, from 73% to 54%.

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During the pandemic, the percentage of independent consultants selling travel as their primary source of income dropped 19 points, from 73% to 54%. The graphic below shows the impact of COVID on independent consultants:

INDEPENDENT CONSULTANTS FOR RETURN SALES AS PRIMARY SOURCE OF INCOME: Zero respondents answered no to the question: “Are you planning to sell travel as your primary source of income?”

A majority (78%) of independent consultants stopped selling travel as their main source of income during the pandemic to start selling at pre-Covid levels, while 20% said they did not.

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The table below shows the intention of independent consultants to return to selling travel as their main source of income.

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In HAR’s Travel Agent COVID Report, you can see which consultant segments are the top source of returning travel revenue.

The average experience of the independent consultants featured in this report is 15 years. This is higher than the average age of independent consultants in 2019 of 13 years.

Consultants earn more as they gain experience. However, during the pandemic, advisors with more than 15 years of experience earned lower median incomes. Statistically, the 15-year experience category received the highest response rate and was generally the most representative of the data.

In an upcoming demographic report, we break down the breakdown of experience for independent travel consultants. Sign up to be notified of HAR’s newsletter when it’s published!

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Weddings and honeymoons are the highest earning positions in 2020. As a domestic destination (for US travelers) it will remain open for most of 2020 as a destination attraction. Disney appeared in the top three earners for the first time. benefits

Below is a complete breakdown of revenue from niche categories where we have received relatively high response rates:

In our survey we ask: “Which travel product do you sell the most?” In 2020, agents reported selling their regular product by 35% all-inclusive (which is the top product for hosted travel advisors).

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Overall, here are the top three travel products sold by independent agents in the 2021 survey:

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Below you can find a complete list of travel products sold and the percentage of independent agents who reported it as the best selling product:

In a normal (non-pandemic) year, cruises land in the top three products sold to independent consultants. However, the Centers for Disease Control (CDC) imposed a “no cruise” order, which caused a sharp drop in cruise bookings.

Certain types of produce are more resistant to infectious disease. The top three median incomes by best-selling product are:

Gross Travel Agent Income = Commissions + Service Fees + Consulting Fees + Other Business Related Income (eg Coaching or Speaking).

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Below, you can see what independent consultants are being charged in 2020 (we’ll be looking at this exact breakdown in our fee surveys next, so stay tuned!)

COVID has eroded the typical earning power landscape, and advisors in the 2021 survey reported fees and other income as a higher percentage of overall earnings compared to commissions.

The chart below shows the average of four returns compared to last year’s averages. (Service fees, consulting fees and other categories include only consultants who reported income from a specific income stream).

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11% of independent consultants reported having a booking engine on their websites. Year after year, we find that bookings from online booking engines are negligible and this year is no different.

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Of the agents who reported having a booking engine on their site, 80% reported they had never booked through this channel. The chart below shows the complete breakdown:

Have questions about setting up your website? HAR shows you how to create a professional looking Wix website in 7 minutes. Flat

How do independent agents run their business and how does it affect their income? In this section, we examine whether agency location (home-based vs. storefront) is associated with higher returns.

Among independent agents, 12% were welcomed with their exposure. This is down from last year, when 30% of independent agents were also taken.

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A higher percentage of independent consultants reported having showroom agencies in 2020 compared to 2019, 26% compared to 16%. In 2020, the majority of independent consultants, 74%, were domestic.

Going back to last year’s results, independent in-house consultants earned an average of 77% more revenue than storefront agencies.

More than half of display agencies generated no revenue during the pandemic in 2020 (hence the $0 average revenue level shown in the chart). However, the interquartile range for this segment was $60-$48,000.

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Our survey asked consultants about the loss of sales (individual sales and agency-wide sales) as a result of the pandemic outbreak.

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However, when we looked at agency sales (as opposed to individual sales) showrooms reported a higher percentage of sales losses. Looking at sales at the agency level, our data indicates that storefront agency owners have been hit harder by the pandemic than their in-house counterparts:

Compared to home agencies, storefronts recorded 18 points more to lose 61-80% of sales and 26 points more to lose 81-100% of sales.

Since showrooms had a large amount of staff and ICs before the pandemic and had to downsize during the pandemic, the cumulative decline in sales would be more pronounced.

56% of independent consultants had an IC and/or staff in 2020. Below is the percentage of independent agents who indicated that they are IC and/or employees:

Independent Travel Agent Income Report

Agencies with ICs and staff earned higher average revenue, banking 109% more than solo consultants. Holders of ICs earned about 56% more.

Agencies with only employees are most affected, a

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