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Travel Agency In North London For Sale

North London, London
Asking Price:
£130,000
Sales Revenue:
£1,222,000
Cash Flow:
Available on request

Travel Agency Specialist in the arrangment of tailor made itineraries Fully bonded with both ABTA and IATA

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.

Equipment

New computer systems have recently been installed ensuring that the business keeps abreast with the latest technology.

Customer Service

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.

Key Strengths

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.
Financial profile:

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.

Property information

Property:

Leasehold

Lease Terms:

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 Operation

Expansion Potential:

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.

Reasons for selling:

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.

Trading hours:

Business hours are currently as follows:

Monday to Friday 9.30am to 7.00pm
Saturday 10.00am to 4.00pm

Employees:
03
Years established:
35

Other Information

Support & training:

A period of training, familiarisation and handover will be provided to ensure a smooth transition to new ownership.

Contact Broker

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