The Travel Institute and its Board of Directors express deep gratitude to all who’ve volunteered, led and supported our mission to enhance industry professionalism through education. Listen to a message from our President, Diane Petras, CTIE. As we celebrate our 60th year, we invite all travel professionals to join us in commemorating this milestone.
We’re kicking off our celebration with a special gift for you—the opportunity for a $150 scholarship toward our award-winning TRIPKITSM program, designed for those looking to start a career as a travel agent.
Apply now and enroll in this program for only $299!
Funds are limited!
One of the key components of the TRIPKIT Program is the Money Matters lesson, designed to guide you in making money through effective travel sales. TRIPKIT’s curriculum also focuses on developing business and marketing strategies from a financial perspective.
The following excerpt is from Money Matters:
The Business of Travel: Income and Expenses
To effectively manage their businesses, travel agents need timely and precise information on income and expenses. While customers contribute significantly to an agency’s revenue, it’s crucial for agents to analyze income-generating purchases for product profitability. Many agencies’ key revenue sources encompass supplier commissions and service fees. Airlines, hotels, cruise lines, and travel agencies often must strategically plan around seasonal fluctuations.
Expenses, representing the costs of earning revenue, come in three categories: fixed, variable, and semi-variable.
- Fixed expenses, such as rent, insurance premiums, GDS computer leases, salaries, industry resources, and furniture, remain constant regardless of business volume.
- Variable expenses, like outside agent commissions, fluctuate proportionately with business volume.
- Semi-variable expenses, such as electricity and advertising, change but by a less than proportional amount. Some part of the cost might be fixed for a certain time, and another part might change with volume.
Identifying and categorizing these expenses is vital for effective cost control.
To further elevate your knowledge in this critical component in the travel industry, and as part of our 60th celebration of events, we are hosting a power session, Setting Up Your Business for Long Term Success!, presented by David Chait, CTIE, CEO of Travefy, on January 18 at noon (EST). David will share insights on enhancing your return on investment and achieving financial sustainability. Whether you are new to the industry or a seasoned professional, understanding how to establish and grow your business is pivotal as you continue to build your success
Another essential event on your calendar is the webinar, Prioritizing Substance in Client Relations: Mastering the Three Ps for Agency Resilience, presented January 22 at noon (EST) by Sheila Folk, CEO and Founder of Travel Industry Solutions. Sheila will discuss the core principles of Preparedness, Profit, and Protection—key ingredients to the longevity and prosperity of your business.
All year long, we will be celebrating with you—our current students, alumni and our future professionals—by hosting different educational events, offering tuition opportunities, launching new content and having some fun surprises! Keep checking our 60th Anniversary page to keep up to date!
Thank you for being an integral part of our journey, and we look forward to celebrating with you throughout this milestone year!
