Starting travelling bag or luggage business is not as easy as it sounds. However, being an entrepreneur is exciting and challenging at the same time. A business plan for luggage business is an excellent opportunity that one can explore.
Rasheed Owolabi in Balogun Market, Lagos said travelling box business is lucrative. “Whether or not we choose to travel or not, we will need boxes to help us organize and even compress our belongings to maximize space. Boxes are used for wedding, for resumption in boarding schools, and travelling. For example, in the past month, there’s a sales boom due to those travelling abroad. They come to buy big boxes for the journey. There are always sales no matter the price.”
Starting A Luggage Storage Business
There are many factors to consider when starting a luggage storage business.
The first is Flexibility:
You can put as much time into the business as you like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Meaningful Business Connections:
You never know who you will meet as a luggage storage business. This could be the start of an incredible business opportunity.
High Customer Retention Rates:
Once a customer invests in your, they have invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
Easy To Encourage ‘Impulse Buy’:
In the luggage business, you have a much higher chance of encouraging your customers to buy on impulse – you can easily alter the price, placement, packaging, and promotional value to influence the decision of your buyer.
Unlimited Income Potential:
When starting a luggage business there is no cap as to how much income you can make. The stronger your business skills, and the more energy/time you put into your career, the more you will make.
Amazing Perks And Discounts:
Working in the luggage business comes with its perks! As a seller for these products/services, you typically also get to enjoy industry perks and discounts.
Predictable Income Stream:
Your businesses income stream tends to be predictable based on the number of customers you have signed up. This makes financial planning and outlooks much more seamless.
Higher Likelihood of Getting Referrals:
This business is all about referrals which can be a very impactful way to attract and retain customers. it’s critical that you have a great referral program in place that incentivizes your customers to tell their friends about your product.
Simple Business Model:
A luggage storage business has the advantage of a simple business model, which makes launching and building the business more seamless. Overall, unlike other businesses, it can be relatively quick to start seeing results and revenue