World Travel Holdings Offering Up to $1 Million in Commercial Loans to its Network of Travel Agency Franchise Owners as Part of a Financial Assistance Program
“We’re There To Help” Stimulus Plan provides resources and funding for franchise owners with Dream Vacations/CruiseOne®
February 12, 2021 // Franchising.com // Fort Lauderdale, Fla. - Since the COVID-19 pandemic began, home-based travel agency franchise Dream Vacations/CruiseOne® has been an industry leader with its support of its franchise owners. With the financial backing of its parent company World Travel Holdings, the franchisor has raised the bar even higher by offering up to $1 Million in commercial loans to its franchise owners as part of its “We’re There to Help” Stimulus Plan.
“For our franchise owners, travel is more than a passion, it is their livelihood and the pandemic has had serious implications on their businesses,” said Drew Daly, senior vice president and general manager of Dream Vacations / CruiseOne. “As a franchisor, we take pride in providing our franchise owners the resources they need to succeed. However, in times like these, it is crucial to go beyond providing a ‘business-in-a-box.’ The success of our franchisees is our only business and this Stimulus Plan supports the foundation of our business model — to support small business owners.”
The “We’re There to Help” Stimulus Plan, which represents World Travel Holdings’ initials, has a three-pronged approach to providing franchisees with additional resources and financial assistance to navigate through 2021 and the COVID-19 pandemic.
- World Travel Holdings-Funded Commercial Loan - World Travel Holdings will make up to $1 Million available in commercial loans to qualified Dream Vacations/CruiseOne franchisees. Applicants will have to explain how they plan to use their funds and submit a business plan to be considered.
- PPP Assistance with Bank - Through a partnership with World Travel Holdings’ banking institution, they negotiated an agreement where Dream Vacations/CruiseOne franchisees can receive assistance from the bank in securing a PPP loan.
- Cares Page - Dream Vacations/CruiseOne created a special section on its Business Center intranet that consolidates financial assistance information from World Travel Holdings, government, franchising, trade and business organizations in one easy-to-find location.
“We are seeing the biggest pent-up demand for travel in history and extremely strong bookings for the end of 2021 and into 2022, and after more than a year of minimal travel and sales, we want to help ensure our franchisees can sustain their business for when this travel boom arrives,” said Brad Tolkin, co-CEO/chairman of World Travel Holdings. “In spite of World Travel Holdings not qualifying for PPP funds due to our size, it was very important to us to find a way to provide additional assistance for the small business owners within our franchise system. We know the future of leisure travel is bright and we want to do our part and assist our travel agency franchise owners to be ready to meet this demand.”
The “We’re There to Help” Stimulus Plan is just one of many initiatives that Dream Vacations / CruiseOne has implemented to provide assistance to its franchisees during COVID-19. They have provided enhanced support to its existing franchisees by offering the option to defer monthly fees for up to six months; hosting Town Halls and webinars with industry executives; presenting robust virtual training and conferences; creating increased and unique engagement opportunities such as a Walking Club and more. Dream Vacations/CruiseOne has steadily been recruiting the entire year and new travel agency franchises are opening each month. The franchisor has adapted its onboarding process for new franchisees to better meet the unique challenges they are facing while opening during a pandemic. The saying “We Care More” has always been a mantra for Dream Vacations/CruiseOne, and it has never been as meaningful as it has these last 14 months.
SOURCE CruiseOne® / Dream Vacations
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