Business For Sale
Established in 2013, the business designs and sells culture related travel products to the UK and Europe. It is a specialist wholesaler which supplies ground breaking travel products and services. The core business is to serve the fast-growing business-to-business travel markets.
Travel products include
• Series and tailor made leisure tours
• Student culture tours and summer holidays
• Fully independent travel
• All in one travel services
The business is working with large Chinese travel corporations and is the B to B (Business to Business) model. The company is acting as the land operator of UK and Europe for these large travel corporations and is signing up annual contracts and taking purchasing orders from them on a yearly basis. The purchasing order value is various and is for the groups of 20 – 40 Chinese Tourists travelling to the UK and Europe. This business looks after all aspects of the group requirements whilst in the UK/Europe.
This involves movement of the groups from the airport to pre-booked hotels, management of the daily itinerary for the duration of the stay and return travel to the airport. Also the organisation of coach travel, hotels, restaurants, tourist attractions, creation of the itinerary, and being the point of contact to resolve any issues. All international operations are dealt with highly eficiently through the in-house booking system, with fixed and low administration cost.
Currently the business is taking on average under 100 groups per year from clients who are themsleves organising thousands of groups to travel every year. Hence the business volume is guaranteed and can grow in the future with the business acceptance of more purchasing orders.
Currently, the company has over several thousand live hotel and ground supplier contacts and confirmed monthly and annual purchasing orders for 2017.
The business is very competitive in the market, and hold licences which are traceable to the Chinese Travel Administration board. The business is also registered at all European embassies and can provide the documentations to help Chinese applying for a VISA to enter the UK and Europe.
Leisure tour: For groups of 20-40 Chinese tourists coming into UK or Europe for between 10 and 15 days holiday;
Students Programme (Summer and Winter): Offering tailored Micro Study Abroad programmes for those Chinese students who are coming from High Net Worth (HNW) families to experience life style as well as academic study in UK for a short period of time.
Localisation Services: Offering one stop shop services for those HNW families who want to settle in the UK for their kids’ further education.
Customer service is paramount to the success of the travel industry. The owner is aware of how reputations are built on how good the team perform. The company is efficient and knowledgeable with a 24 hour response to all customer requests that are looked after on an individual basis.
Based in London, with representation in Zurich and a sales office in Beijing, the company works closely with Chinese travel companies. With the increasing desire for Chinese people to travel to the UK and elsewhere in Europe, the business is growing stronger.
The business is very professional when designing and selling the travel products. Should clients need to change their requirements the company is flexible and responsive to their requests, understanding the needs and cultural backgrounds of clients to provide the best travel products every time. Dealing directly with clients also ensures a price advantage for the clients and makes the company extremely competitive within the market. The twenty four hour customer service that is offered ensures a quick response when dealing with any complaints and sorting out any issues while are clients are travelling.
The company has also obtained HMRC’s full approval for the EIS Scheme (Enterprise Investment Scheme)
Confidentiality Form / NDA
The business employs 3 full time staff
1 x Hotel Reservation
1 x Operation Staff
1 x Sales
and 2 part time staff
1 x Operation Assistant
1 x Hotel Reservation Assistant
Confidentiality Form / NDA
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.
Depending on the amount of working capital investment the vendor believes the company could achieve sales of circa £2Million.
|Actual||Actual||Actual||Actual||Actual||Expect (with extra 200,000)|
|Cost of Sales||2,56,607||5,11,526||5,03,214||9,21,931||12,30,623||19,31,350|
The Asking Price: Offers in Excess £500,000 is for 100% of the issued capital of the company,(calculated on a zero cash-zero debt basis).
Confidentiality Form / NDA
The business has grown steadily over the years and has traded consistently having found a distinct niche in the travel market. Due to Brexit leading to the weak pound, the UK inbound travel industry is expecting to grow even stronger than expected in 2017.
So the timing is perfect for the business to grow, however, the business needs extra working capital investment to achieve this.
Currently only operating with one operator in Beijing there is the very real potential to expand to other large cities in China where there are more big travel companies and the guarantee of additional revenue.
There is also the potential to expand out of China and reach out to companies in South East Asia, like Singapore, Malaysia, Thailand, Taiwan and so on.
The travel products on offer can also be extended to include more European Countries than the five that are currently offered the tour products.
Additional investment in developing a customised online platform would lead to business with small family and business groups.
The owner believes that all of the above are an excellent opportunity to take the business forward due to the constant demand for travelling to the UK and Europe from Asia. The business is ripe for further expansion.
Confidentiality Form / NDA
The company has not felt the need to advertise. Sales are made direct to travel companies, saving time and cost. The business has an excellent reputation and attracts trade through word of mouth recommendation and referrals. There is also an excellent website to showcase the company and the products on offer.
Confidentiality Form / NDA
Reason For Sale
The company has been running well over the last 3years with stable profit. The market outlook is good for continued growth, however the business could do with extra capital investment to make the most of the opportunities available.
If you are looking for finance to fund your business purchase then we recommend that you talk with our independent finance broker. Because of his many years working at a senior level for a major high street bank he has had more success with finance applications than anyone else we know. He has helped numerous purchasers of businesses that we are selling, including buyers who have been turned down by their own bank! Call us today on 0800 046 1652 or email us at email@example.com
Confidentiality Form / NDA
The vendors are happy to provide support and training to the new owners to ensure a smooth transition of ownership and trading contacts.
Confidentiality Form / NDA
Confidentiality form / Non-disclosure agreement
‘You’ and ‘your’ means Turner Butler Limited a company registered in England and Wales under company no. 08137440, registered office Woodwater House, Pynes Hill, Exeter, EX2 5WR, trading as Turner Butler and shall be deemed to include any company or firm to which you delegate all or any part of your services for the Clients
‘Clients’ means any person, firm or company who or which has engaged your services including parent companies and subsidiaries and all associates and affiliates of such person firm or company including without limitation any associated company or business and any shareholder in such company or principal or partner in any such business any director member or other officer employee contractor consultant or agent of any such party or a family member of any such party or any other connected person together with the owner of any asset used in or for the benefit of the business operated by the Clients
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‘Confidential Information’ means information (in whatever format and medium and whether written or oral) and every part of it directly or indirectly concerning the business or businesses of your Clients together with any other information which you or your Clients designate or identify as being confidential
1. In consideration of you and/or your Clients disclosing or agreeing to disclose to us Confidential Information, we undertake both to you and separately to your Clients that we shall:
1.1 treat all Confidential Information as being strictly private and confidential and shall maintain its status as such;
1.2 use all Confidential Information solely for the purposes of evaluating the business to which it relates (the ‘Permitted Purpose’) with a view to the acquisition of the issued shares of your Clients or any of the assets of your Clients (the ‘Proposed Transaction’), and not for any other purpose (including but without limitation to procure any commercial advantage over you and/or your Clients);
1.3 provide you with all information, co-operation, facilities and access to enable you and your Clients to perform your and their legal, regulatory and contractual obligations prior to or after the Proposed Transaction and to monitor our observance of this Undertaking;
1.4 not at any time disclose or otherwise make available to any person any of the Confidential Information other than to:
1.4.1 such of our directors/partners/members or other members of senior management whose knowledge of such Confidential Information is essential to achieve the Permitted Purpose;
1.4.2 any professional advisers acting on our behalf in connection with the Permitted Purpose and Proposed Transaction;
1.4.3 any other financial institution from which we may seek finance for or in connection with the Proposed Transaction;
1.4.4 any other person approved in writing in advance by you or your Clients;
1.5 procure that any of the persons referred to in paragraph 1.4 to whom all or any of the Confidential Information is disclosed shall hold it strictly confidential and shall not disclose it to any third party except to those persons as permitted by paragraphs 1. 4.1 to 1.4.4, in which event our obligations to procure the confidentiality of such information shall apply mutatis mutandis in relation to such persons and;
1.6 maintain a list of individuals or entities to whom any Confidential Information is disclosed and make such list available to you upon request;
1.7 except with your or your Clients prior written consent not reproduce the Confidential Information (in any medium in whole or in part) and we shall whenever requested by you or your Clients, return, and procure that there is returned to you, immediately all matter in tangible form which constitutes the Confidential Information, or any part of it, together with all copies (whether supplied to or made by us) and we will destroy and expunge from any storage media (and procure that any persons referred to in paragraph 1.4 to whom Confidential Information has been imparted confirms to you in writing that they have destroyed and expunged from any storage media) any analyses, compilations, studies, reports and other documents or materials supplied to us or prepared by us or on our behalf which reflect or are prepared from any of the Confidential Information;
1.8 not at any time disclose to any third party the fact that negotiations or discussions are taking place or have taken place concerning the Proposed Transaction or any of its terms or conditions;
1.9 promptly advise you of the information, co-operation, facilities and access provided by your Clients to us, the progress of all enquires, the making, acceptance or rejection of any offer to or by your Clients, the outcome of the due diligence and the negotiation process and will disclose to you in writing all documents and information in our possession, power or control relating to the evaluation and acquisition process including the final terms of the Proposed Transaction or any other transaction between us and your Clients;
1.10 within ten working days of completion notify you in writing by recorded delivery (and we shall retain confirmation of postage and delivery) of all of the terms on which the Proposed Transaction or any other transaction between your Clients and us has been concluded;
1.11 not whether by use of the Confidential Information or otherwise make contact or approaches of any kind to the staff, customers or suppliers of your Clients or any governmental or regulatory body nor with any other person connected with your Clients without your or your Clients’ prior knowledge and written consent;
1.12 not from the date hereof until five years from the termination of negotiations (except in the case of completion of the Proposed Transaction between your Clients and us) directly or indirectly seek to entice away from the business of your Clients or employ or engage any employee, officer or contractor of your Clients or otherwise seek to interfere with the business of your Clients
1.13 notify you promptly upon becoming aware of any unauthorised disclosure, copying, use or loss of all or any part of the Confidential Information and we accept that we shall be responsible for any breach of any of the terms of this Undertaking by us or those persons to whom we provide the Confidential Information.
1.14 upon request and at our expense confirm to you by statutory declaration or in writing (at your option) our compliance with the provisions of this Undertaking.
2. We further confirm that:
2.1 we have sufficient funds or access to funds to complete the Proposed Transaction at the price at which it is advertised;
2.2 we are acting in this Proposed Transaction as principal and not as agent or broker for any other person or company and that our interest is in acquiring your Clients business for the purposes of our business and in the case of a share purchase agreement, we confirm that our purchase will consist of all of the issued shares;
2.3 we will not and have not entered into any agreement in reliance upon any representation written or oral made by you or on your behalf;
2.4 you are not responsible for and do not make any representation or warranty, express or implied, with respect to the accuracy or completeness of the Confidential Information or the contents of any other document or data supplied to us in relation to our evaluation of your Clients;
2.5 the delivery to us of any information (including, without limitation, budgets and financial forecasts and projections which may form part of the Confidential Information) does not, and shall not be deemed to, constitute any representation or expression of opinion or warranty by you as to its accuracy or completeness;
2.6 you will not be liable for any loss or damage suffered or incurred by us as a result of the supply by you, your Clients or your Clients advisers and the use by us of any information, including the Confidential Information, (in particular but without limitation) as a result of any errors or inaccuracies in any of the information;
2.7 we shall enter into a separate agreement in the terms of this agreement with your Clients immediately upon being requested to do so;
2.8 none of your or your Clients’ proprietary rights in the Confidential Information or in any of their intellectual property is transferred or licensed to us by virtue of this Undertaking;
2.9 no right or licence is granted to us or our advisers in relation to the Confidential Information except as set out above;
2.10 you as the Data Controller (as defined in the Data Protection Legislation) may hold and process any data and information provided by us and you will have unlimited rights to use such information in any way you choose in connection with the Proposed Transaction, including without limitation, disclosing our data to your Clients who have an interest in the Proposed Transaction and the publication of details of the Proposed Transaction after completion and you may contact us by any means including without limitation mail, SMS text messaging, email, fax or telephone;
2.11 nothing contained in this Undertaking shall compel you to provide us with information relating to your Clients which we request and you shall be entitled at your discretion to decline to supply us with all or any information;
2.12 nothing contained in this Undertaking shall in any way restrict our right to use, disclose or otherwise deal with any of the Confidential Information if and to the extent that at the time it was imparted to us it was in the public domain or it subsequently becomes so available, other than as a result of a breach of this Undertaking by us or by any person referred to in paragraph 1.4;
2.13 if we enter into any transaction with your Clients other than the Proposed Transaction whereby your Clients acquires or agrees or takes an option to acquire any asset or right or an interest or share in any asset or right from us or enters into any other form of venture contract or arrangement with us we shall be responsible for your remuneration in accordance with your terms of business for sellers as at the date of this undertaking (a copy of which will be made available to us upon request);
2.14 we shall indemnify you and keep you indemnified and separately and independently each of your Clients indemnified from and against all and any losses, claims, actions, damages, costs and other liabilities which you or they may suffer or incur arising out of any breach or non-fulfilment of any of our undertakings and representations contained in this Undertaking and all costs and expenses that you or they incur in relation to the enforcement of the terms of this Undertaking;
2.15 we will be responsible and liable for any breach of any of the terms of this Undertaking by any person referred to in paragraph 1.4;
2.16 damages may be a wholly inadequate measure of loss in the event of any breach of the terms of this Undertaking and accordingly agree that in such event you and/or your Clients shall be entitled to seek specific enforcement of these terms (by injunction or otherwise) on such terms as any court with jurisdiction may deem just and proper;
2.17 we have read and accept fully the Disclaimer attached to the Memorandum of Sale that you have prepared for your Clients;
2.18 any failure by you and your Clients at any time to enforce or exercise any of your rights under this Undertaking will not be construed as a waiver of your right to enforce or exercise that right in future or other rights under this Undertaking at any time.
3.This Undertaking shall apply in respect of any and every business or Client which you supply to us as if the same were repeated each time we request Confidential Information in respect of one of your Clients
4.This Undertaking is governed by and shall be construed in accordance with English Law and each party submits to the non-exclusive jurisdiction of the Courts of England and Wales
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Turner Butler Disclosure Statement
This statement applies to information relating to any company or other undertaking or business advertised for sale by Turner Butler (a 'Business')
The information supplied by Turner Butler on its website or in any other promotional material ('the Information') is not and is not intended to constitute an offer for sale of the Business or any assets of the Business or of the shares of any company which owns the Business.
For the avoidance of doubt there is no intention to create a legal relationship which will only come into existence when a written contract for sale and purchase of the shares in or the Business has been entered into.
The Information provided is not intended to address your particular requirements. Further the Information does not constitute any form of advice recommendation representation endorsement or arrangement by Turner Butler and is not intended to be relied upon in making (or refraining from making) any specific decisions.
Any agreements transactions or other arrangements made between you and any client of Turner Butler are at your sole risk and responsibility. The prospective sellers of the Business have provided the Information to Turner Butler. The Information has not been verified by Turner Butler.
You must carry out your own due diligence and satisfy yourself as to the accuracy of all matters. In the case of the sale of shares in a Business the Information has been prepared on the basis that the shares will consist of or include more than 50% of the voting shares and that both the seller and the buyer is either a body corporate, a partnership, a single individual or a group of connected individuals so as to fall outside the scope of regulated activities as defined by the Financial Services and Markets Act 2000. If you are considering a transaction which falls within the scope of such regulated activities you cannot do so through Turner Butler.
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This document is governed by and shall be construed in accordance with English Law and any dispute arising in connection with it shall be subject to the non-exclusive jurisdiction of the English courtsTurner Butler