Thomas Cook expands network of Gold Circle Partner Franchise
Thomas Cook (India) has strengthened its footprint in Maharashtra with the launch of a new franchise ‘Gold Circle Partner’ outlet in Nashik at Gangapur Road.
With this expansion, the company’s network in Maharashtra reaches to 42 consumer access centres, which includes 20 owned branches and 22 Gold Circle Partner (franchise) outlets.
Rajeev Kale, President & Country Head Leisure Travel & M.I.C.E, Thomas Cook (India) Limited, said, “Maharashtra contributes a significant 22% to our overall Thomas Cook India holiday business and Nashik has emerged as a key market with over 15% growth in demand.”
“To maximise on this growth potential, we have opened our new Gold Circle Partner (franchise) outlet at Gangapur Road and this prime locality was chosen to leverage its significant catchment across families, millennials, professionals, Gen S / Silvers,” he added.
The new outlet will offer consumers end-to-end travel solutions like International & Domestic Holidays (Group Tours, Personalised holidays, Cruises, etc.), Travel Insurance, Visa Services, etc.
Travel & Tourism Biz in India
Every day thousands of people move from one city to another, of which, 30% of the population travel in search of job or for education or to reach office in time, 50% of the population for attending business meetings or seminars or events, and the rest of the population is traveling to relax or for a holiday away from the daily life.
The travel and tourism in India have also emerged as one of the key growth drivers among the services sector in the country. The tourism business especially is fueled by those traveling from other countries to India for medical treatments or in search of spirituality or simply to see the varied culture distributed in mainland India.
As per the reports during 2018, FEEs from tourism increased 4.70 % year-on-year to $28.59 billion whereas FEEs during January 2019 was $2.55 billion. This sums up the situation of the travel and tourism business in India.
Requirements of an Offline Travel Service Franchise
The initial investment required for a travel service franchise would amount to Rs 10 lakhs, of which, the franchise fee would range from Rs 2-5 lakhs depending on the geographical location. The area required would be 400-600 sq feet for Tier I, II and III cities whereas for rural areas the space required would be 250-400 sq feet.
Every travel service franchise has a requirement of two sales staff as well as one receptionist, the average salaries working out to Rs 60,000. The payback period lasts up to 15-20 months and the franchise period of a travel service franchise such as Make My Trip would be five years. The earnings would be through 12% on domestic holidays and 15% on international packages, which would be split in a 60:40 ratio between the franchiser and the franchisee, respectively.