120. The Real Cost of Running A Travel Business with Kemi Wells-Conrad
Running a travel business isn’t just about booking dreamy getaways. It takes strategy, smart money moves, and strong industry connections. Kemi Wells-Conrad, Founder and President of Wells Luxury Travel, joins this episode to share insights into what it really takes to grow a thriving travel agency while maintaining work-life balance. She dives into startup costs, pricing strategies that protect your time, and the power of networking to build a thriving business. Plus, she gets real about setting boundaries and making self-care a priority. If you want to scale sustainably and actually enjoy the journey, this episode is for you!
About Kemi Wells-Conrad:
Originally from the UK, Kemi instantly fell in love with Vancouver when she moved to Canada in 2012. With an insatiable passion for travel, Kemi has visited more than 80 countries, lived on three different continents and visited all seven. With a degree in public relations, Kemi has worked for global brands in various marketing, event and communication roles. In 2014, Kemi joined the travel industry, working as the Director of Sales – Corporate and Leisure at North South Travel, where she oversaw the team, handled all strategic partnerships, sales and marketing for the agency. Six years later, at the start of 2021, Kemi decided to launch her own agency, Wells Luxury Travel, a boutique collective for advisors specializing in four key pillars: adventure, celebration, sustainability and wellness travel. Kemi is a proud member of the Travel + Leisure Advisory Board, is a featured A-Lister in their annual awards and sits on the advisory board for National Geographic Lindblad Expeditions. Kemi previously ran the Young Travel Professionals and then Millennials in Travel Vancouver chapter, as well as sitting on Virtuoso’s Global Member Advisory Board for over 6 years. She has been quoted and featured in a variety of publications, including Travel + Leisure, Robb Report, CNBC and BRIDES.
Today we will cover:
- (02:00) Kemi's background; Wells Luxury Travel
- (07:50) Maintaining a healthy work-life balance
- (13:35) Startup costs and ongoing expenses of running a travel business
- (15:40) Time management and delegation
- (24:50) Financial strategies to ensure fair compensation
- (26:55) Unexpected expenses associated with growing a team
- (30:30) Outsourcing; tech stack essentials for running a legitimate business
- (34:00) Customer service recovery and having a financial buffer
- (43:50) Investing in professional development and travel experiences
- (51:30) The value of attending conferences and networking
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