As I mentioned before, agencies are changing hands in 2015. It may be just the time to get out of, or into the travel industry. There is a huge potential in the industry for successful agencies.
What are the most important things you should know about when planning to sell your agency or planning to buy one?
Based on 24 years of experience in putting buyers and sellers together, I would say that the top most important things to know are…
- The latest pricing trends in acquisitions of travel agencies
- How you find buyers and sellers
- How to prepare your agency for sale
- How to evaluate your agency or an acquisition prospect
- Typical sale terms and conditions
- Whether to take a fixed price versus earn outs
- How to protect the confidentiality of the process
- How to structure the deal to save on taxes
- The importance of due diligence investigations
- Terms for employing or retaining selling owners
- Legal traps for the unwary in the process
The answers are not simple and should be discussed with your attorney and/or business broker prior to entering into any agreement to buy or sell.
If you are looking to buy or sell; or just are interested in the process, you may want to join us at a seminar being held in Atlanta on Friday, April 17th at the Renaissance Concourse Hotel from 8am-4pm featuring Mark Pestronk, industry attorney, Direct Travel CFO, John Coffman, and Innovative Travel Acquisitions brokers Bob Sweeney and Doug Haugen. Cost is $199 per person (includes continental breakfast and workbook). To register, email firstname.lastname@example.org or call 800-619-0185.
Innovative Travel Acquisitions, Inc. president Bob Sweeney and staff have completed more than 600 acquisitions of tour and travel related businesses since their inception in 1991. Bob has been in the brokerage industry for 21 years. He is a proud member of ASTA, NTA and many other known industry affiliations. Known as “the Matchmakers for the Travel and Tour Industry” ITA is available to answer any questions you may have by contacting them via phone 800-619-0185 or by sending an e-mail to email@example.com.