In the central Mediterranean, Malta undoubtedly possesses the most exquisite visitor attractions. Due to its stunning restaurants, sites, and infrastructure, Malta is a popular choice among entrepreneurs for the establishment of tourism and trip companies because it attracts a lot of tourists. These organizations offer a variety of services, such as location management, encouragement of arriving tourists, and trip planning, among others.
Due to Malta’s limited size and dearth of natural resources, one of its main industrial pillars is tourists. After seeing the advantages that tourism provided for the nation, the Maltese authorities implemented several regulations and measures to control and promote the industry’s expansion and growth in a stable way. The Maltese state put into effect the controversial Malta Travel and Tourist Service Law to support the long-term growth of both civilization and attractions.
Establishing a tour company
If you want to launch a profitable tour company, but don’t even know where to begin, you can use the stages listed below to better understand the process.
- Check the legalities
Do thorough research on the legal prerequisites for establishing a tourism business in Malta. The necessary conditions must be met for a travel agency to operate effectively. A complete building permit is required from the Environment and Management Ministry. After acquiring the confirmation letter, immediately obtain liability coverage. Submit documentation proving your IATA membership to the appropriate authorities.
Before the firm may begin operations, the Registration Division of the Malta Tourist Board must examine the site. Before being granted a license, destination managers must have a year of expertise working as an inbound tour operator.
- Obtain the travel permit
There are four different kinds of tourist licenses available, based on the Tourist Board, for businesspeople wanting to establish a firm in Malta in the shape of a tour operator. They are eligible to submit applications for the following licenses:
- Trip organizer,
- Inbound travel agency,
- Location administration firm, and
- An outbound tour operator.
The Registration Department of the Malta Tourist Board is responsible for issuing all licenses.
- Provide essential papers
You must satisfy all standards set forth by the MTA authority to properly establish a tour company in Malta. The majority of these prerequisites concern paperwork and candidates must provide a specific request form along with an attachment containing the following documents:
- Documents of identification,
- Criminal history evidence,
- Operator history, and
- Articles of incorporation.
- Establish a bank account
You must create a separate bank account exclusively for your company to safeguard yourself. You’ll also need lines of credit for this.
If you use the same wallets for company and individual transactions, you run the danger of losing your funds and property. In the economic sector, this is referred to as “piercing the corporate veil.”
- Business strategy
After you’ve completed all the necessary steps, you’ll require a corporate strategy to launch your travel agency. This is a file that contains all of your concepts and plans for achieving your objectives. It is your comprehensive guide to launching your firm.
- Target market
You must conduct some investigation on your intended clientele before establishing a tour company. You should first decide who you want to invite on the trips. You’re probably wondering, “anyone who chooses to come,” but that’s not how it works. You should think about mobility and trip duration. For example, if your target market is senior citizens then you need to arrange proper mobility tools and plan shorter trips. Strollers and slow walkers must be taken into consideration if you want folks to be capable of bringing their children.
- Determine the costs
You must choose how much to demand your offerings after selecting the people you want to take part in your excursions. Find out the prices your rivals are asking for excursions comparable to yours. Maintain fair costing in comparison to these. Examine the rates of various trip operators.
You should also consider how much your customers are willing to spend. Keep in mind that costs are frequently lower during the “low season” for travel, and many providers offer discounted rates for families and big groups.
- Promote and earn
Finally, you’ll need to conduct a lot of advertising to increase your web visibility and attract clients.
You can promote your travel company on a variety of channels. Create advertisements and post them on online networks, in your neighborhood news publication, and at your community cafeteria. Have pamphlets and other items that clients can take with them when they visit your office. As soon as you establish your budget, be sure to account for everything.