How to Start an HR or Travel Agency in India
Steps to be taken to Start an HR Consultancy Agency1. The first step, as in other businesses, the first step towards opening an HR consultancy agency is deciding on a name for the prospective organization. This is an important step because the name is the brand which will distinguish the company in future and be its identity. The major determinant in choosing a name is that the owners should like it and be able to relate to it.
4. The owners need to decide the type of company their organization is going to be. There are 4 major choices available in India in this regard:
- Sole proprietorships
- Private limited companies
- Public limited companies
5. It is very important to open a current account and this can be done if it is a solo proprietorship company and if the company has registered for service tax. Provided the owners are yet to file for service taxes, they will have to choose government banks for setting up the accounts.
They can also look at banks such as IDBI, which offer convenient procedures for opening a current account. In order to open a current account, the organization needs a company letterhead, company stamp, and a visiting card.
6. It is important that the newly formed HR consultancy agents purchase login facilities of popular Indian job search websites such as Naukri and Monster. This will help them to provide their clients proper candidates for different posts.
Login facilities for Naukri.com can be bought at approximately 60 thousand rupees for a 3 month period – the login facilities for Monster for a similar period are worth almost 35,000.
Steps to be taken to start a travel agencyIn the recent years, the travel sector has witnessed a substantial amount of growth and the increasing spending capabilities of the middle class have played a major role in this development. The travel agencies have been facing some problems with the Indian airlines but overall the sector has been performing pretty well.
Ideally, the owners of a travel agency should start with lower amounts and have overdraft facilities at a bank of their preference. They should also have some buffer amount. The overdraft is normally dependent on the fortnightly amounts earned by a travel agency. The owners also need to keep in mind that ticket stocks are provided by airlines on basis of the bank guarantee provided by a company.
These diplomas can be availed by anyone willing to start a travel agency. However, there are some travel agents in India who operate with consolidators and do not have such certifications. The IATA certified agencies enjoy greater acceptance among the tourists.
It is considered advisable if the owners have some experience of working in the travel industry. The Indian travel industry works mainly via networks and personal referrals and these are not built in a single day. Experience assists an entrepreneur to create good relations with the clients, foreign consulates, corporate houses, vendors, and airlines. An owner with 2 years of experience is also in a better position to make the business operate without too many problems.
The new travel agencies should look to provide customers some special services. For example, in addition to ticketing the companies can look at services such as holiday packages, bus tickets, reservations of hotel rooms, and car rentals. Having proper credit facilities and a survey team comes in handy to attract corporate clients.
These organizations should also get permission of Indian Railways to provide rail tickets in addition to the IATA license that has to be renewed every year. They can also use global distribution systems such as ones provided by Amadeus, World-span, Abacus, and Saber.
Last Updated on May 21, 2015