Interview Summary: Mark Hennigan of Dreamers Travel
Key Highlights
1. Background and Entry into Travel Industry
* Mark Hennigan founded Dreamers Travel 18 years ago (around 2007).
* Previously worked as a vending director for a healthcare company.
* Started the business after 9/11 when many thought travel agents were becoming obsolete.
* Named the company "Dreamers Travel" after his wife who "didn't dream and didn't travel".
* Had no prior travel industry experience; learned through trial and error ("baptized by fire").
2. Business Growth Strategy
* Initially built business through bridal shows (continued until COVID).
* Went independent with a CLIA number rather than joining a host agency.
* Worked two jobs simultaneously in the early years (vending job + travel agency).
* Almost quit after three years of limited success.
* Credits Sandals rep Liz Purkey for saving his business by providing mentorship and training.
* Transitioned from home-based to storefront after wife joined the business in 2010.
* Currently has 14 independent contractors, with two producing over $1M in business.
3. Business Philosophy and Approach
* Focuses on niche markets rather than trying to "specialize in everything".
* Emphasizes relationship building with suppliers (particularly Sandals).
* 99% of current business comes from repeat clients and referrals.
* Requires consultation (phone, Zoom, or in-person) before providing quotes.
* Does not charge planning fees, unlike some competitors.
* Closing ratio increased 80% after implementing consultation requirement.
* Provides personal cell number to clients for assistance during travel.
4. View on Host Agencies vs. Independent Operation
* Chose independence to avoid restrictions some host agencies impose.
* Believes direct relationships with BDMs (Business Development Managers) are critical.
* Encourages his ICs to build their own relationships with suppliers.
* Acknowledges the commission advantage of host agencies but prefers independence.
5. Family Business Aspects
* Wife Laura joined the business in 2010, leaving a six-figure corporate job.
* Son expanded into a related business (tent rentals for events).
* Cross-referrals between the travel business and rental business.
Current Business Structure
* Storefront location with multiple staff (wife, full-time admin, part-time admin).
* 14 independent contractors, each with their own specialties.
* Primary focus on Sandals, family vacations, and river cruises.
* No money spent on advertising; business driven by referrals.
Advice for New Travel Agents
* Don't expect overnight success or enter the business for free travel perks.
* Be prepared to work hard with potentially delayed financial rewards.
* Find a mentor rather than trying to start completely independently.
* Develop a niche rather than trying to sell everything.
* Focus on building relationships with suppliers.
* Persistence is key: "The only way to fail in the industry is to quit".
Industry Insights
* Family of four all-inclusive vacation costs have increased from $5-6K to $7-9K in three years.
* Commission rates of approximately 16% for established agencies.
* Increasing consumer awareness of travel agent value after COVID disruptions.
The interview concluded with both Mark Murphy and Mark Hennigan emphasizing the value of travel professionals and the entrepreneurial mindset required to succeed in the industry.
