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BUSINESS REFERENCE : GP106 / RightBiz GAY TRAVEL COMPANY WITH FREEHOLD | | | | | | Gay Travel Company with Freehold Our Ref no: GP106 Confidentially offered for sale Location: Brighton Asking price: £495,000 | | | BUSINESS LOCATION: | Undisclosed Relocatable UNITED KINGDOM | | BUSINESS SECTOR: | Services | | TRADE TYPE: | Travel Agencies | | SALE: | Agent Sale | FREEHOLD: | £495000 | | | | | | | | | | | BUSINESS DETAILS: | Business profile:
In operation from the premises for sale osince 1993, this business is considerted to be the oldest and longest established gay and lesbian travel company in the UK with a High Street retail premises. Whilst specialising in travel to the gay hotspots of the World and Europe in particular, this business is also ‘straight friendly’ and is well known as a regular travel agency just as much as for its high levels of awareness and reputation within the gay community.
This business has been built upon offering great choice and the best value to its customers – whether it be the cheapest value flights available in Brighton, for which it still has an excellent reputation or the very best value gay holidays which are marketed internationally. With its excellent experience, expertise and contacts within this sector, this business can rightly claim to have the specialist “know how” to service the travel needs of the gay & lesbian community in particular – the right Cities to visit, the best gay resorts and where to stay in relation to this niche sector’s specific requirements, while still competing on a level playing field with the larger, mainstream tour operators. A recent addition to the business offering has been overseas property sales, with a dedicated website to promote this side of the business.
If location is the key to success in the retail travel sector, this business cannot be anything but successful being ideally located in a prime retail situation in the heart of the gay village in the very trendy, cosmopolitan, seaside city of Brighton. The business is situated in prime retail freehold premises with high levels of footfall, with residential accommodation available in an apartment above – offering a new owner an excellent opportunity to ‘live in’ or to generate additional income by letting out the space to tenants.
As well as keen pricing, the foundation of the success of this business has been its niche angle on travel product knowledge and commitment to customer service. This business prides itself on the high levels of knowledge and expertise available, offering a thorough, unbiased service, together with the personal, friendly touch expected from a truly local travel agent. Careful attention is given to every detail to ensure bookings meet every aspect of a Client's travel plans. This business responds promptly to customer's queries, requests for itineraries, availability checks and the booking process. Given that it was in effect ‘dynamically-packaging’ before this became a travel industry ‘buzz phrase’ Clients’ holiday accommodation needs have always been more closely met than by relying upon the pre-packaged products of the mainstream operators e.g. city hotels in central locations.
Not surprisingly, a large volume of customers, particularly within the gay community, return time and time again, to take advantage of this expertise coupled with fair prices available when booking their travel and holidays with this business.
Although operating in a very competitive market, this very well established business has carved out a specialist niche, particularly within the gay sector – a sector that is consistently immune from the vagaries of the economy, to the extent that some ‘straight’ travel companies have in the past tried to market to the ‘pink pound’. Turnover is approximately £200,000 pro-rata – based on part-time semi-retirement operation only, generating profits for the Owner of the business of between £30,000 and £35,000. It is understood turnover could easily be substantially improved upon under the management of a new and fully committed new Owner working on a full-time basis. As such, together with a centrally located, freehold, premises with residential accommodation, this business represents an excellent acquisition opportunity for a gay individual or partnership looking for a lifestyle oriented business.
Key strengths:
This is a truly independent travel agency which has established high levels of awareness and an excellent reputation within the gay marketplace. As such, customers of this business appreciate they will receive unbiased advice and the best possible prices from an organisation not tied to any particular tour operator and which shares similar interests and outlooks. Staff are highly trained, friendly, dedicated to personal service and well-travelled themselves; capable of drawing on their own travel experiences to identify the needs of their customers and develop individual travel plans accordingly rather than merely relying on ‘what the computer’ can offer. This very personal and efficient service ensures high levels of customer satisfaction, generates significant repeat business and continuous customer referrals – and is more profitable than relying upon the commission payments of the major tour operators when selling their own packages.
This business is ideally located in the heart of the gay village in a seaside resort city well known for its high volume gay population. As such it enjoys high levels of awareness and footfall in the local community, building on the levels it has established due to its many years of operation. National and international advertising targeted at the gay community together with this company’s websites are another significant contributor to its on-going marketing strategy for business generation.
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.
Certainly there is the opportunity to increase the operating hours of the business. Currently the business is open approximately 35 hours per week and with semi-retirement beckoning, the current Owner is on site only approximately 9 months per year. A more dedicated Owner operator would extend the opening hours and marketing activity generating a significant increase in turnover and profitability.
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 gay credentials 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. It should be noted that this is the only travel agency in the whole of the eastern central area of the city, east of the London Road/Old (insert word) area of Central Brighton.
Location:
The business operates from a highly sought after, central location in the ‘gay village’ of the Sussex coastal resort city of Brighton. The Ground floor is given over to retail premises with a built in desk to the front retail area with additional office accommodation to the rear of the premises. There is scope for re-configuration of the retail area.
The existing staircase connects the office to the 1 bed maisonette apartment above – on two floors and recently part modernised yet retaining its original features and decorated to a high standard. The residential accommodation comes complete with a sunny south-west facing roof terrace and separate side-street entrance, enabling the apartment to be rented out if appropriate at approximately £750 per calendar month..
Rates are £1,000 per annum for the retail premises with a further £1,000 per annum for the residential accommodation.
Opening hours:
The business currently operates only between 11.00am and 5.30pm on Mondays through to Fridays and until 2.00pm on Saturdays.
Advertising and Marketing:
For the local gay community this business's prominent position on a busy High Street is far and away its most effective advertising hoarding. This business has however invested heavily in the past to establish itself within the gay marketplace via significant advertising in the gay press, although 'word of mouth' recommendation has been its most effective advertising medium. Modest advertising appears in local, national and international gay media including ‘G – T’, ‘Attitude’ and ‘Spatacus’.
This business has a web presence, however this is fairly limited but represents a potentially great opportunity for future growth in this area.
Employees:
As well as the Owner of the business there is a Travel Consultant who takes care of the sales and day-to-day running of the office.
Financial Information:
All financial discussions will take place between the vendor and all interested parties under the auspices of Turner Butler. Turnover for the most recent year for which figures are available was approximately £200,000 pro-rata, based upon part time operation – generating profits available to the Owner of the business of between £30,000 - £35,000. The current Owner believes full time operation would immediately increase turnover substantially.
The Asking price of £495,000 includes the valuable freehold interest of the property.
Reason for Sale:
This is a genuine retirement sale.
Training and Handover:
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: | GP106 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
