Travel Agency Specialist in the arrangment of tailor made itineraries Fully bonded with both ABTA and IATA
Location : Wood Green North London
Asking Price : £130,000
Turnover : £1,222,000
Net Profit : Undeclared
Gross Profit : Undeclared
EBITDA : Undeclared
Net Asset : Undeclared
Premises : Leasehold
Confidentially offered for sale
This highly successful travel agency was established by the current owner in 1979. Since that time it has grown steadily and is now regarded as the agency of choice in its locale – a busy area of North London, close to main line train services and bus routes.
The business operates as a traditional high street travel agency yet has developed a niche market as a specialist in the arrangment of tailor made itineraries. Many trips are organised to Greece and Cyprus, reflecting the significant number of people from these destinations living locally. However, there is a large volume of business to all destinations, both long and short haul.
The agency specialises in providing flights, hotels, car hire, insurance and packages to all destinations. As such it is able to offer airline fares direct to the public at a level at which other travel agents find difficult to match. As well as extremely competitive fares, the cornerstone of the success of this business has been its commitment to customer service. This commitment to high quality and personal customer care has earned it a deservedly strong reputation amongst customers and suppliers alike.
Operating from a relatively low cost location, and keeping all other overheads under strict control, the business has risen to the challenge of the internet: it is often asked to quote against web prices and is almost always able to be more competitive. The agency is fully bonded with both ABTA and IATA.
New computer systems have recently been installed ensuring that the business keeps abreast with the latest technology.
The highest levels of personal service sit at the heart of the agency’s engagement strategy. More than 1,000 regular clients use the agency frequently.
The cornerstone of this agency’s success has been the outstanding reputation it has earned with both clients and the travel industry. Outstanding relationships exist with airlines, consolidators and tour operators. This ensures that the most complex arrangements can be readily provided to the discerning clientele as well as more simple requirements. Most business is generated through personal ‘word of mouth’ recommendation and mostly through the telephone or via email. This means that whilst many clients are local, there is a considerable number who are located all over the South of England.
At the busiest times of the year, especially in the New Year period when most people are thinking about and planning their summer vacation arrangements, the agency often struggles to cope with transaction volumes. This is largely due to the bespoke nature of much of the business sold. With additional staff, who must be experts in their field, even more sales could be generated.
A new owner with additional investment funds available would be able to arrange even more tailor made packages. This would necessitate trips to the most popular destinations to make arrangements directly with hotel owners. This could be an almost full time commitment for a period of the year yet would bring significant benefit and additional sales.
To date little advertising has been arranged. The business would therefore really benefit from the development and execution of a strategic marketing plan addressing all media types.
A basic web site is in operation which acts as a ‘shop window’ to the business. However the web site could be further developed to provide full ‘e-commerce’ facilities allowing clients to make travel arrangements and to pay for them on line. This would do much to broaden the appeal of the business even further and would allow even greater geographic coverage than that enjoyed at present.
The business is being offered for sale on an ongoing 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 no borrowing and enjoys high gross margins. It has shown consistent growth since trading begun. The current turnover is circa £1,222,000 per annum.
The agency occupies circa 750 square feet premises. The current owner will be happy to grant a new lease at a very competitive rent of approximately £5,500 per annum. Business rates are currently £2,200 per annum.
Business hours are currently as follows: Monday to Friday 9.30am to 7.00pm Saturday 10.00am to 4.00pm
The current owner and three experienced travel consultants work in the business.
A period of training, familiarisation and handover will be provided to ensure a smooth transition to new ownership.
Reason for Sale
This is a genuine retirement sale. A stage has been reached where the owner wishes to retire and is offering the business for sale not only as an organically expanding going concern but with further significant growth potential.Turner Butler Disclosure Statement
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