Trending Now: Top Business Opportunities in the Tourism Industry
Tourism has evolved and proven itself to be one of the most profitable industries that business owners can take advantage of. With the age of digitalization, tourists have had more access to all the sightseeing and tourist-spot location across the world. This has led to a tremendous boost in the number of travels that are related to tourism and hence it has also created various opportunities and scope for business owners. You can start your own business related to the Tourism industry with a low or a higher investment depending upon your business idea.
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Top 10 Profitable Business Opportunities in Tourism
The Tourism industry provides you with various opportunities and business ideas to go with. Be it an online business idea or an offline, you can make good money if your focus and target audience is predetermined and if you make a name for yourself against your competitors. The top 10 Profitable Business ideas are as follows.
1. Photography Business
For obvious reasons, Photography is on the top of the list of 10 Profitable Business opportunities in the tourism industry. No trip or tourist spot visit goes without pictures and capturing of the moments which is cherished by the individual in the long run. You can act as a freelance photographer and offer your services at the tourist spots by clicking good pictures of the individuals. Even better than that you can start your own agency for the same and hire professionals and get paid handsomely.
- Investment:₹4,65,000 – ₹11,75,000.
- Requirement: Camera Equipment (Cameras, Lenses, Tripods, filters), Computer and Editing Software( Adobe Lightroom, Photoshop, etc.), Lighting Equipment ( Studio lights, flashes, reflectors, etc. ), Printing Materials( Photo paper, Printing ink, etc.) Portfolio, etc.
- Profit Margin: ₹60,000 -₹1,00,000 per month.
2. Guiding Business
Not every piece of information is available on the Internet regarding a particular tourist spot. Some information or some insights are only available with the locals who have interesting stories to tell and guide the tourists in their trip, making it more insightful. You can act as a tourist guide or have an agency that specializes in the same. In this business, you would not require a huge investment but rather you can make easy money by just having the ability to guide the tourists well.
- Investment:₹3,00,000 to₹10,00,000.
- Requirement: Booking and Reservation System, Outdoor Equipment ( tents, camping gear, etc.), language translators, Transportation, etc.
- Profit Margin: ₹40,000-₹60,000 per month.
3. Lodging Business
That’s one of the first things every tourist looks for before carrying out their sightseeing, a room to sleep and stay. Lodging has been one of the most profitable ventures for business owners looking for opportunities in the tourism world. Yes, you would require a huge investment for setting up your business, but once you make your brand name or your lodge name in the industry, you can guest many tourists and grow your business.
- Investment : ₹50 lakhs-₹2 crores.
- Requirement : Furniture, Toiletries, Kitchen and Catering Supplies, Technology and Equipment, Payment Processing, Marketing Materials ( Brochures, business cards, etc. ), Security Systems, Guest Amenities and Services ( Wi-Fi, breakfast, parking ), etc.
- Profit Margin : ₹1,260,000-₹1,400,000 per month.
4. Vehicle Business
In other words, you can call it as ‘Rental Car’ business. Many tourists require a vehicle for their travel and journey of visiting the various tourist spots in a region and that’s when they look out for companies or businesses that offer rental cars. Uber and Ola services can not be availed everywhere and especially for this purpose; hence you can turn this type of business to your flavor and earn good profits through the same.
- Investment : ₹70 lakhs-₹2 crores.
- Requirement : Licensing and Permits, Safety and Maintenance, Customer Service, Collaboration with Travel Agencies and Hotels, Technology Integration(Gps, keyless entry systems, and mobile apps for booking and communication.), etc.
- Profit Margin : ₹9,20,000-₹12,00,000 per month.
5. Translating Services
Many foreign tourists or even national tourists who are not aware of the local language require someone who can translate and help them out. Usually, this type of service or business idea is associated with Tourist guide services. However, you can also have your small-scale business that is dedicated or related to Translation.
Having a detailed and thrilling experience for tourists is something which is on their priority list while going to any tourist spot, hence they usually want to avoid any technicalities where they would miss the fun because of lack of communication. You can start this business idea without any major investment and on a small-scale basis.
- Investment : ₹10 lakh to ₹50 lakhs.
- Requirement : Language Specialization, Qualified Translators, Translation Software(google translate, DeepL, Microsoft translator), etc.
- Profit Margin : ₹4,00,000 per month.
6. Become a Vlogger
You must be familiar with this term called as ‘Vlogger’, there has been a sudden spike and excitement among individuals to go for Vlogging. Travel Vlogging can be considered similar to blogging where you record your entire experience while visiting a particular place and create videos of the same, thereby sharing your knowledge, idea, experience about the place that you visited or are about to visit.
There have been many Vlogger’s emerging, especially on YouTube, you can open your own YouTube channel and post your Vlogging content thereby engaging with the audience and making money.
- Investment : ₹30,000 to ₹50,000.
- Requirement : Equipment ( cameras, lights, clothes, microphones ), Video Editing software’s (Canva, FlexClip, Wondershare Filmora, Renderforest, Vidchops), Regular Upload Schedule, etc.
- Profit Margin : ₹60,000 per month.
7. Travel Content writing
Another interesting business idea or rather in the form of freelancing that is associated with the Tourism industry is to write content that is related to travel or rather the tourist spot. There are many content writers who have their own blog and they post various articles related to a particular place by describing the specialties of that spot. You can also get hired by various companies or organizations that deal with such content writing related to travel.
- Investment : ₹30,000 to ₹50,000.
- Requirement : Video Editing software ( Canva, FlexClip, Wondershare Filmora, Renderforest, Vidchops ), Computer setup, office furniture , etc.
- Profit Margin : ₹60,000 per month.
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8. Organizing Events Business
Yes, you read it right. You must have observed or heard of various instances wherein there are certain events that are organized in a particular time period and at a specific tourist spot. You can entertain the tourists or the guests by organizing such events which would have a thrilling experience and impact in their minds, this can be a profitable business but you would need decent relations with the service providers.
- Investment : ₹3-₹5 lakhs.
- Requirement : Budget Planning (venue costs, catering, marketing), Staffing and Volunteers, Decoration and Theming, Permits and Licenses, Event Management Software(pxier, Webex Events), Office Space (administrative tasks, client meetings, and collaboration), etc.
- Profit Margin : ₹50,000-₹60,000 per month.
9. Influencer
Are you a travel freak? Well, you can post your travel pictures and some unique experiences on your social media handles. This can help you to get sponsorships from various organizations or companies for posting such pictures. However, for this type of idea, you would need a good following on your handles.
- Investment : ₹1,00,000 to ₹5,50,000.
- Requirement : Influencer Marketing Platform (Influencity, AspireIQ, Traackr, HYPR, Upfluence, Grin), Partnerships and Collaborations, Community Building, Social Media Advertising Budget, etc.
- Profit Margin : ₹60,000/- per month.
10. Opening a Café/Restaurant Business
One of the major problems which Tourists face while visiting any particular spot is the lack of fancy food. You can open a fancy restaurant or Café which would give Tourists an opportunity to visit your café during their travel. This can again be a profitable business, however, with a moderate investment.
- Investment : ₹15 lakhs-₹40 lakhs.
- Requirement : Business Plan (target market, menu, pricing, marketing strategy, and financial projections), Equipment and Furnishings ( kitchen equipment’s, tables, chairs ), Interior Design and Layout, Hiring Staff, Marketing and Branding, Suppliers and Inventory, etc.
- Profit Margin : ₹3,75,000-₹5,00,000per month.
Conclusion
There are many business ideas that one can go for when it comes to the Tourism industry. The top 10 profitable businesses are Photography, Guiding, Lodging, Vehicle business, Vlogger, translating services, travel content, organizing events, influencers, and opening a café or a restaurant.
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