Home-based travel agency franchise Dream Vacations/CruiseOne is getting financial help from its parent company World Travel Holdings, of up to $1 Million in commercial loans to its franchise owners as part of its “We’re There to Help” Stimulus Plan.
The “We’re There to Help” Stimulus Plan provides franchisees with additional resources and financial assistance to navigate through 2021 and the COVID-19 pandemic. In addition to the loan, Dream Vacations/CruiseOne franchisees can receive assistance from the bank in securing a PPP loan.
There’s also 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.
“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.”
Loan applicants will have to explain how they plan to use their funds and submit a business plan to be considered.
“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.”
In addition to the “We’re There to Help” Stimulus Plan, the home-based travel franchise has 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; and presenting virtual training and conferences.