Looking for a low-cost but high-earning potential franchise opportunity to escape your 9-5 job or perhaps be closer to travel? Cruise Planners franchise is the answer you have been looking for!
In this guide on How Much Does A Cruise Planners Franchise Owner Make, we have answered all the possible questions that you may have regarding this newfound opportunity!
Make sure to read this guide till the end as we break down the investment you will need, the profit you will make, and other things for you!
About Cruise Planners
Cruise Planners is a traveling agency that offers lucrative services to explore the world by sea and land.
This American travel service takes pride in providing quality service at very competitive pricing to fulfill all your needs during your traveling.
This company was founded in 1994 by Michelle Fee, along with Lynn Korn and Marvin Davis.
However, the credit for the success of the Cruise Planners goes to Michelle, as her passion and willingness drove their business to success.
Today, Cruise Planners has more than 2500 outlets, and it is one of the nation’s largest home-based travel franchises.
Cruise Planners offers franchise opportunities to those investors who are willing to do traveling business and has a positive and travel-driven attitude in general.
As far as the experience is concerned, they are very flexible and do not need you to have any kind of prior background in the traveling business.
Everyone is eligible to buy a Cruise Planners franchise without any restriction.
Moreover, they also provide extensive training and other technical support for you to easily set up this franchise.
So far, so good. Let us now dig deeper and have a look at Cruise Planners Franchise money-wise.
How Much Does A Cruise Planners Franchise Owner Make?
If you are making up your mind as to whether or not you should get the Cruise Planners Franchise, then you must be wondering how much can a Cruise Planners Franchise owner make.
Well, as per records, Cruise Planners can generate $6,447,000 in annual revenue through its commission.
And an individual Cruise Planners franchise owner can easily make $58,000 annually or $28 per hour.
The profit of the Cruise planners franchise is only 3% lower than the national average for all Franchise Owners at $60,000 annually.
However, this is an average figure, and there is a possibility that with better marketing ideas and skills, you might be able to make more than this as a franchise owner of Cruise Planners.
Interested In Cruise Planners Franchise?
How Much Does a Cruise Planners Employee Earn?
Cruise Planners Employee salary may vary depending on their location, job role, department skills, etc.
However, the average annual pay of a Cruise Planners employee is $66,450 a year in the United States.
If we break this down, then it comes to $31.95 an hour or $1,277/week and $5,537/month.
Furthermore, a Cruise Planners employee with the lowest profile may earn as less as $20,500, or an employee with a high profile may earn as high as $125,000.
The average pay for a Cruise Planners employee varies greatly, which means that there are many opportunities for advancement and hence opportunities for growth in terms of salary. ((https://www.ziprecruiter.com/Salaries/Cruise-Planner-Salary#:~:text=As%20of%20Mar%2015%2C%202023,%2Fweek%20or%20%245%2C537%2Fmonth.))
Pros & Cons Of Cruise Planners Franchise
Pros Of Cruise Planners Franchise
- Cruise Planners is one of the lowest-cost franchises to own at just $10,995.
- Does not require you to have any prior experience in the travel industry.
- Successful franchise that has been running for 25 years now.
- The company offers personalized coaching and comprehensive training.
- Offers discounts and other offers to franchise owners for them to travel more.
- Offer discounts to veterans military men, travel agents, etc.
- Work from anywhere in the world.
- Offers constant support.
Cons Of Cruise Planners Franchise
- You do not get paid until clients travel.
- Charge royalty of 1.5%-3% on gross commissions. ((https://franchisebusinessreview.com/top-franchises/cruise-planners/))
Also Check Out Dream Vacation Franchise
Cruise Planners Franchise Average Revenue & Profit
The average revenue and profit that you can make as a Cruise Planners franchise owner vary depending on how much time and effort you are willing to put in.
Cruise Planners has clients who work five hours a week and some who even work eighty hours a week. Clearly, the person putting in more time and effort will earn more.
Cruise Planners has not disclosed or made representations about a franchisee’s past your future sales and revenue record.
However, according to the data provided by the Cruise Franchise owner at Glassdoor, after calculating the royalty fees, the estimated average franchise revenue of the Cruise Planners franchise is $128,682.
This data is calculated after considering $12,880 as an initial investment amount and a profit margin of 40%.
Also, during 2021, Cruise Planners saw a 38.7% increase in revenue, which shows that they probably recovered pretty well from Covid-19 losses. And compared to 2020, the company saw a $9 million increase in net income in 2021. ((https://www.glassdoor.com/Salary/Cruise-Planners-Salaries-E773157.htm))
Cruise Planners Franchise Failure Rate
The failure rate of any franchise represents non-renewals, franchise unit terminations, and the number of units that have ceased operating in a given year.
The Cruise Planners Franchise Failure Rate as of 2021 is 12.7% which is lower than the industry failure rate of 15.61%.
In the year 2020, the failure rate of the Cruise Planners Franchise was 22.9%, so with a 12.7% recovery rate, the franchise has recovered from the impact of Covid-19 strongly.
The details about the failure rate of Cruise Planners Franchise in 2023 are not available at the moment.
However, if you are interested to see the recovery rate track record of this franchise between 2019-2020, then check this table below:
|Year||Outlets at Start of Year||Outlets Opened||Non-Renewals||Terminations||Ceased Operations & Other Reasons||Reacquired by Franchisor||Outlets at End of the Year|
Cruise Planners Franchise Payback Period
As mentioned earlier, Cruise Planners Franchise is one of the least expensive franchises that you can get your hands on. As such, the franchise payback period is not that long.
The initial franchise fee that most franchise owners would have to pay is $10,995, and the intial investment can range anywhere between $2,295 – $23,465.
Also, if you keep an average profit margin of 40% and make $128,682 in revenue which is also the average estimated revenue of the Cruise Planners franchise, then the payback period should be calculated as:
$23,465 (initial investment) +$128,682 (revenue) + $10,995 (franchise fees) = $163,142.
So you can calculate the payback period as per the repayment amount you choose to make monthly. On average, the payback period for Cruise Planners Franchise is 2 years.
Facts About Cruise Planners
- Cruise Planners is the most extensive travel agent network in the United States.
- The co-founder of Cruise Planners, Michelle Fee, worked as a travel agent before starting this company.
- Cruise Planners coined the term “Cruisitude,” which basically refers to a person who has a travel-inclined positive attitude in life.
- Cruise Planners has been named the #1 home-based travel franchise by Entrepreneur for 18 straight years.
- This company has been ranked in Entrepreneur’s Franchise 500 list many times in recent years.
- Cruise Planners offers a home-based franchise model, which means you can run it from anywhere in the world.
- Cruise Planners is one of the cheapest franchises in the world, with a franchise fee of as low as $10,955 (sometimes you can also get it for $6,995).
What Is Cruise Planners Known For?
Cruise Planners is a travel company that is known for its service, quality, and affordable travel packages and they take care of everything right from planning your cruise to land tours.
Some more reasons why Cruise Planners is so popular is because they have access to special amenities and low travel fares on thousands of tour departures and cruise sailing.
They are also experts in specializing in destination weddings, reunions, group travel, and clubs and associations.
Not to mention that they accept all major credit cards and offer travel protection to ensure your trip, making it all the more alluring option for travelers.
Is Cruise Planners Franchise Profitable?
As per Small Business Administration, a typical franchise investment is around $20,000-$50,000, and an average franchise owner makes $60,000 annually.
If we take this data into consideration, then we can conclude that, yes, Cruise Planer is a profitable franchise.
Other reasons supporting this statement are that this franchise requires a very low-cost investment of around $2,295-$23,665, and in return, it can generate an average profit of $58,000 annually.
Hence, this data proves that this franchise is giving more return than the investment.
However, this is an average profit. In reality, a Cruise Planners franchise owner can make more than $58,000 or even less; it all depends on your skills and business techniques.
Overall, the franchise’s performance is good, and it has the potential to make a high profit.
So if you do your best and put extra effort into the business, then you can easily make $28 per hour or more.
Cruise Planners Franchise Earning Potential
The earning potential of any company depends a lot on the number of hours and hard work one is willing to put into their business.
As far as the Crusie Planners Franchise is concerned, then its franchise owners make $50,000-$60,000 on average.
However, this franchise has a high earning potential, and you can even make as much as $101,000 annually.
Finding clients to get on board might be a bit difficult initially, but once you get the hang of how things work, then you can easily be among the top earners of this franchise business.
As we discussed above, Cruise Planners offers traveling service opportunities to entrepreneurs, and the policy of the franchise is very flexible.
You don’t need to follow any rigorous interview process, and also, you can buy this franchise without any experience.
Moreover, it is a home-based franchise and requires a low-cost investment. It even makes a decent amount of profit without any huge investment.
So overall, we do not see any massive downfall in this franchise.
If you want, you can also work on a part-time basis with this franchise.
To Conclude, Cruise Planners is one of the best franchise opportunities to invest in.
Still, if you have any confusion, you can read the Franchise Disclosure Document to understand the policy in-depth.
Frequently Asked Questions
What is the monthly royalty fee of Cruise Planners?
Cruise Planners charge a royalty fee of 1.5%-3% on commissions as their fees.
Where is the initial training for Crusie Planners franchise held?
The initial training for the Crusie Planners franchise is held in the Cruise capital of the world – Fort Lauderdale, FL.
Does Cruise Planners offer international franchise opportunities?
No, Crusie Planners does not offer international franchise opportunities and is only available for people in the United States.
Amit Gupta is the founder of DrFranchises – a digital marketing agency that helps brands rank better on Google Maps through local SEO strategies. Amit has over 11 years of experience in digital marketing, SEO, email marketing, and social media marketing. He’s also the owner of multiple franchises and has helped countless brands achieve success online. When he’s not working, Amit can be found playing with his dog.