Most travel planners and tour operators are in business for the love of travel, not the love of money. But let’s be real: Profit isn’t a small thing — it’s the backbone of any small business.

In an era of rising costs, paying attention to your margins keeps your travel business healthy so you can stay afloat in seasons of abundance and in seasons of scarcity. It also ensures you can invest further in your travel business. But how can you boost your profits without sacrificing your travelers’ experience or becoming too expensive for them to book with you? Here are five ways to increase your profit margins so you can keep planning great trips.

Price for Your Minimum Group Size

You don’t want to price your group members out of traveling with you, but you need to ensure you’re keeping expectations realistic by planning for fewer travelers than you might actually book. Your target group size might be 40, but you need to do the math and figure out the minimum number of passengers you’ll need to generate a profit. Price your trip for this number, not for your ideal group size — that way, if some of your usual travelers can’t make it or have to cancel, you’ll still be able to turn a profit. And if you can book a trip with your ideal number of travelers, your margins will only increase from there.

Find Ways to Reduce Expenses

You want your travelers to have an incredible experience, so it may be tempting to include everything in an itinerary. But you shouldn’t feel pressured to include every single option or upgrade. For example, you may choose to include breakfast and dinner but give your travelers free time to figure out lunch on their own. You can also look for free or low-cost attractions to boost profits. That could include museums with free admission or entertainment districts where you can turn your group loose for an afternoon to enjoy music, shopping or food on their own. Free time is one of the best ways to reduce costs while simultaneously giving your travelers agency to customize their experience.

Incorporate Add-Ons

Sometimes high-ticket items are what attract travelers to sign up for your trip, so it makes sense to include them. But it may also work to your advantage to make a few upscale experiences optional add-ons to keep the trip’s base price low and to give you another opportunity to generate profit. This also gives your travelers options; they can splurge and go all out if they want, but if they’re traveling on a budget, they can still come on the trip without breaking the bank. Going to Napa Valley? Hot-air balloon rides would be a great add-on. On a trip to Alaska, give travelers the option to book a Kodiak bear tour. The trip will still be great without any add-ons, but these enticing experiences can take it to the next level, and travelers will pay top dollar for them. You can also add on elements like merchandise, upgrades for seating or meals, and pre- and post-trip plans.

Build in a Cancellation Policy

It’s important to be flexible and understanding when working with your travelers, but it’s also important to protect your profit margins. Balancing the two means coming up with clear cancellation and attrition policies. If you plan for a group of 50, and 15 of them cancel after you’ve already put down deposits, you might end up going into your own pocket to pay for the trip. Creating a clear cancellation policy upfront keeps boundaries in place with your travelers and holds everyone accountable. You can be flexible by incorporating deadlines based on when you’ll need to put down deposits for lodging, attractions and transportation. For instance, maybe travelers can get a 90% refund if they cancel six months before the trip, a 50% refund three months before the trip and no refund a month before the trip. It’s also important to look for hotels and attractions that have good attrition clauses to offset any unexpected cancellations.

Negotiate Free-of-Charge Benefits

One of the best benefits of group travel is that vendors will often give you advantages for bringing them so much business. For example, many hotels will offer free-of-charge benefits when you bring a group. This essentially means you can get things for free if you sell a certain amount. For lodging, that might look like getting one free room for every 20 you book with them. While many tour operators use these comps for themselves or bus drivers, you can often negotiate. Ask about this benefit at hotels, restaurants and attractions; every comp can save you money and boost your profits.