 Hi, welcome to another new episode of Start It Up at Entrepreneur. The travel sector has been growing like no other sector, with the numbers looking at $38.7 billion by 2021. So today we are going to tell you about another new opportunity which you could look at in the travel space. Anybody and everybody these days is looking at experiences and even in travel, that's the new trend which everybody is looking at. How about traveling to a place where nobody has treaded so far, tasting food which is out of your preference, but yet it gives you a taste of what local cuisine tastes like. That's the new concept of experiential travel which we are going to share with you today. So what all do you need to start a business in experiential travel? First and foremost of course is your passion. Do you have a passion for travel? Can you plan an itinerary which is like no other? Can you take people to places which nobody has seen? How about having relationships with locals wherein they could get into some activity which only they do or they know about? How about having people who know about different kind of cuisines can help you to not just taste them but also help you to understand how to cook them. So after learning maximum about one place, you also need to develop a relationship with the guides and tour operators of those places on what kind of adventure, what kind of itinerary you could plan for your guest. So in which all areas do you need to invest in before starting an experiential travel business? First and foremost, I would suggest would be a good camera which you should buy which can cost you somewhere around a lakh with a good lens quality to have all those pictures like beautiful pictures to upload on your social accounts. Second would be the marketing cost which you could spend on social media which can start from a minimum investment of 15 to 20 thousand and can go up to maybe a lakh or more as your business grows further. In your go-to-market strategy initially you can set up a Facebook page and once the interest develops you can further spend close to 30,000 into developing a separate website altogether wherein you can share videos, you can share what kind of experiences you have offered so far, you can share testimonials of people who have taken those trips with you. Well you don't need to indulge yourself full-fledgedly in the business from the day zero itself. You can start the business on a part-time basis or maybe as a weekend hobby and as and when you feel that the business has grown to this much level, you can plan putting in all your hours completely into this business. Initially what you could do is you could hire a few interns who could help you in growing the business and later on when the business has grown to a certain height, you can have maybe three to four employees. The initial cost would be 60,000 a month. You don't need to spend in a full-fledged office at the start. What you can do is maybe look at a co-working space or talk to any incubator which might be willing to offer you space in their incubation service and also give you access to various services like telephone, Wi-Fi and other things. So initially if you're lucky you might get to serve a celebrity who want to experience something different, something where not many people have been to. So if you could offer them a great experience, you can be the lucky one with all the pictures and publicity coming to you. The growth in the business can further come from having different kind of corporate tie-ups with different companies. So what kind of margins one can expect in this business? Well, it can vary from 15 to 20% on a trip to trip basis. If you have never ever visited that place or somebody in your team has never been to that place, don't send any of your potential customers to that trip because it's all about giving those off-beat different kind of experiences to your customers. So the better your experience is in terms of visiting that place, the better is going to be the outcome. A bad publicity in this business can spread like wildfire. So this is all for today and start it up for more information on various startup ideas. Do visit our website www.entrepreneur.com and I look forward to you writing back to me about your next business idea.