Understanding the Size of Your Tour & Travel Company
Understanding the size of your tour company is critical. In this video, we want to share with you a clear scale of what could be the size of your tour/safari company. We have lined up 5 measures that you can draw on to determine your company’s size in comparison that what you had in mind before this scale.
A number of measures can be considered but for our case, we have looked at the 5 key factors and they include.
-Number of Employees.
A small company will have few staff, not more than 10 people compared to medium-sized companies with more than 10 but may not exceed 20. The large companies will have above 20 allocated to different individuals and separate departments.
-Market Size or Share.
How big is the market you are serving? Are you into domestic tourism and this is your market size, then you are small and for that selling to the International market, do you have sales representatives across, is your brand represented elsewhere outside your country of operation and this makes you a bigger company. Take time to learn tourism sales to be able to keep your revenue department alive.
-Sales Revenue.
Small companies will definitely generate something below $500,000 per year and medium-sized companies can slightly go above $1M per year large companies have the capacity of generating more than 5M per year and this is evident in their sales report.
Small companies will definitely generate something below $500,000 per year and medium-sized companies can slightly go above $1M per year large companies have the capacity of generating more than 5M per year and this is evident in their sales report.
-Profitability.
The fact you have low sales revenue means that your profits will also be small. Ask yourself, how much profit you made last year 2023 and what is the likely profit to make this year 2023. look at the amounts of profits and know the size of your company. More profits represent a bigger picture of your company’s performance and size. so are the small profits made.
The fact you have low sales revenue means that your profits will also be small. Ask yourself, how much profit you made last year 2023 and what is the likely profit to make this year 2023. look at the amounts of profits and know the size of your company. More profits represent a bigger picture of your company’s performance and size. so are the small profits made.
-Action plan program.
How have you planned to operate in the future? What are your future plans and prospects? Are they followed consistently, do you have a set of strategies to help you achieve them? Big companies will always have a 5 years master plan for their growth and program, so small companies will have little to do a year ahead or nothing completely.
How have you planned to operate in the future? What are your future plans and prospects? Are they followed consistently, do you have a set of strategies to help you achieve them? Big companies will always have a 5 years master plan for their growth and program, so small companies will have little to do a year ahead or nothing completely.
Other measures could include, start-up capital ingested, and company assets obtained over a given period of time. A lot has been left out and you too can give us your opinion on what you think should be a measure of the sxe of your tour company or tourism business in the comment section.
