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BUSINESS REFERENCE : GP112 / RightBiz INDEPENDENT TRAVEL MANAGEMENT & TRAVEL TOUR OPERATOR | | | | | | Independent Travel Management & Travel Tour Operator Confidentially offered for sale Ref No: GP112 Location: West London Asking price: £1,250,000 | | | BUSINESS LOCATION: | Undisclosed London UNITED KINGDOM | | BUSINESS SECTOR: | Services | | TRADE TYPE: | Travel Agencies | | SALE: | Agent Sale | LEASEHOLD: | £1250000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
This highly successful Independent Travel Company was established in 1986 to provide a dedicated service for the discerning corporate traveller, whose clients include large prestigious and SME companies. The business was established as a direct result of the vendor, after spending many years in the business, perceiving a distinct lack in the agency market for a corporate travel service that was both caring and personal – in the best sense, a customer oriented service.
The business has successfully exploited this opportunity since trading began and developed this niche by offering alternative itineraries that are cost effective and crucially reducing travel expenditure. They specialise in South American, African, Middle & Far East destinations and have also branched out into the retail sector and the all inclusive travel tour business, both of which still have tremendous growth potential and opportunities.
They believe that a high quality customer oriented service is only effective when it is combined with efficient and professional post-sales, ongoing and long term, client management and the nurturing of solid business relationships. Indeed, it is the times of greatest need that customer care is put to the test such as when flights are overbooked or a hotel reservation is cancelled, or a visa forgotten that this company truly come into their own with their positive can do attitude and speedy, caring response.
Such is the success of this business’s attitude and practice of customer relationship management that it not only enjoys year-on-year growth of its client base, but has not lost sight of the requirements of the business’s original clients. The highest levels of service have been maintained and it is a credit that the business’s "hands on" style of management ensures that, should resources become strained, additional staff of the same high calibre can be called upon to assist.
The business’s high standards are maintained through careful investment in staff, software and technology, while the company is also fully ATOL bonded.
Customer Service:
The company provides a one-stop solution for customers, the company’s goal is to find the right travel solutions and provide a professional, prompt and courteous service, always willing to go the extra mile. The company values all business relationships and is dedicated to 100% customer service, maximising effectiveness for its clients, with a fast and personal response.
Key Strengths:
This business is an independent agency with high profile clients and has established itself as a specialist Independent Travel agent with the expertise, knowledge and ability to meet clients corporate and leisure requirements, through the knowledge and training of their staff. They have recently seen the niche opportunity in the specialist all-inclusive tour business and have begun to exploit this additional market opportunity.
Growth and Expansion:
This personal and dedicated agency has an extensive base of satisfied and high profile clientele who appreciate a superior service. There are many excellent avenues for growth, extra funding, additional staffing and further promotion within the appropriate market sectors could help to increase turnover and profitability.
There are many opportunities in the market for an ambitious new owner to contribute fresh ideas to build on an excellent base. This business opportunity is an ideal add on to enhance any hungry company.
Particular growth opportunities exist on expanding the retail and travel tour sides of the business, which has always been the poor relation in time and advertising, as compared to the corporate part of the business.
Key Opportunities:
There is great scope and opportunity to develop and expand this operation. A new owner with new ideas, drive and enthusiasm will have every advantage of building on an excellent platform of success.
Having foreseen the trend for the Internet, the business has invested in a web presence, however there is much more that could be done through this medium, leveraging its tour element and promoting it further to a much wider audience, combining this with a dynamic ‘High Street’ retail travel agency base for continuing face-to-face interaction with Clients.
Advertising and Marketing:
There is very little done in the way of advertising as the business has relied on the best advertising medium of all and the one that produces the results so far, that of word of mouth recommendation. Coupled with a high level of repeat business and a website presence the company has been satisfied with results to date.
However there is little doubt that a new owner with sales and marketing skills could improve the turnover and profits of the company quite significantly and quickly.
Equipment:
The business uses Galileo software system for all booking and accounting requirements, with Worldspan as a back up system.
Quality Assurance
The company is fully IATA and ATOL bonded.
Premises:
Situated on a prominent main road benefiting from a high level of passing traffic, both foot and vehicular, this is a glass, double fronted premise, leading to a large open plan retail area with additional offices and all usual facilities to the rear. There is a fully maintained Redcare alarm system covering the property.
There is 5 years to run on this 25 year, fully renewable lease, with rent reviews set at five yearly intervals, the latest has just been agreed at a rental of £22,000 per annum. Combined with rates payable of £4,000 per annum, means that for the area this constitutes very low premises overhead.
Employees:
The owner works full time and is ably assisted with a total of twelve full time and three part time knowledgeable staff.
Business Hours:
Monday – Friday 9.00 – 6.00
Saturday 10.00 – 2.00
Financial Information:
The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.
The business is financially stable with low overheads and has shown consistent strong growth in gross profits. The current turnover is circa £11 million per annum with a gross profit of circa £1.1 million, with every reason to believe that the growth in turnover and profits will continue.
Reason for Sale:
This is a genuine retirement with the owner wishing to retire to his home in the Far East.
Support and Training:
The current owner would be happy to assist with the handover to ensure a smooth transfer of the business and a swift return on investment for a new owner | | | | | | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | GP112 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
