There are many different reasons to consider a succession for your company. This is no different in tourism than in all other sectors.
One of the most common reasons is age succession, but sometimes you simply have the feeling that your company has reached the limit and you don’t want to go any further. Illness or death can of course also be a reason.
Here we have answered some frequently asked questions for you:
Can I sell my travel agency, my tour operator or my holiday home agency?
In principle, this question can be answered with YES, but these are always individual cases, because each takeover is individual. Here we need considerably more information about your company in order to be able to give you a qualified assessment.
What is the value of my company?
This is one of the most difficult questions. You will find numerous valuation methods on the internet and in associations. In our presentations we like to use an example company. According to valuation method X this is correctly valued at 27,000 Euro and according to another valuation method Y at 221,200 Euro. It is easy to understand that this range is utopian and even the golden mean would be difficult. Therefore a simple formula is clearly too short. Therefore:
How does OneWorld Consulting evaluate a tourism company?
We benefit from many years of professional experience and have developed an extremely complex evaluation procedure, in which numerous parameters are incorporated. Factors such as company size, competitors, margins, discounts, time windows for a sale and much more are taken into account here. Experience has shown that we almost always value very close to the real market and sales value.
What if I only know the value of my company and do not want to sell directly?
We are also happy to carry out a mere valuation of your company. For this, please go to travel agency evaluation, tour operator evaluation or holiday home agency evaluation.
My travel agency, my tour operator or my holiday home agency do not necessarily have very high turnover. Do they still have a value and is a sale realistic?
Basically, you run a company that generates sales. In principle, every company has a value for us. You have invested energy, heart and soul, money and time. With travel agencies it is usually the case that chains often show serious interest only from 1.2 million and more turnover. However, many solid medium-sized travel agencies generate between 600,000 and 1.2 million euro in sales. This also includes many of our customers, whom we were able to accompany successfully in a succession. Accordingly, a sale can be very realistic. We are happy to advise you individually.
Are you a corporate broker?
We do not see ourselves as corporate brokers. We will support you in your search for a successor or we will also find a successor for you independently – our approach, however, differs significantly from that of a corporate broker.
How long does it take until I have sold my company?
This can be a relatively short period of time or can take a little longer. It depends entirely on your needs. In the event of illness or death, everything may have to happen very quickly. But owners also often say that they “get pregnant” and plan to sell within the next one to two years. Here one must examine the individual case exactly.
Does it make a difference whether I operate as a GmbH, sole proprietorship or GbR?
Each of these companies has advantages and disadvantages. In principle, we do not regard the company name as an obstacle.
How do you search for a successor?
We use a step-by-step model here. This approach also distinguishes us significantly from corporate brokers. We offer you as a tour operator, travel agency or holiday home agency appropriate registration forms. You are welcome to request them from us and send them to us with your information. We will check your documents immediately and inform you of our initial assessment.
We will then arrange a non-binding telephone appointment and talk about your project.
If the result is positive and you would like to commission us, we will meet for a personal appointment.
With a further assignment we will carry out a detailed evaluation of your company and prepare an exposé. Immediately we begin with the buyer search. We coordinate the exact strategy comprehensively with you.
Inquiries are usually processed exclusively by us and summaries are forwarded directly to you. In this way, anonymity can be maintained and your customers and employees will not learn anything about the project. Of course, we will accompany you to all of your upcoming appointments and, if desired, conduct the negotiations for you. We will continue to support you and will be happy to coordinate the actual succession.
What costs should I expect?
The costs can be quite different. Complete transparency is very important to us from the very beginning. Our approach makes it possible to work with low costs. Until the time of a personal appointment, you will not incur any costs. We always calculate these only when we can estimate the effort involved. This gives you planning security. We will inform you of all costs in advance and only if you agree to them will they be incurred.
Do I pay the costs or does the buyer?
As a matter of principle, we work exclusively in the interest of our client and strictly reject double mandates, as this would not be ethically justifiable on the one hand, and on the other hand there would be an economic conflict of interest. In the course of the takeover negotiations, the costs could be charged to the buyer, if necessary.
Do you work purely on a commission basis?
No. That is not our philosophy. Only the success fee is on a commission basis.
What if I no longer wish to sell or if a potential buyer I have found does not suit me – do I still have to sell?
You decide whether you want to sell to a particular interested party or not. We will advise you on this. We may also advise you to distance yourself from a potential buyer. If you no longer wish to sell, this is also no problem. You only pay the contractually agreed costs and the incurred expenses. Success fees are not charged in this case, of course. Not even if you reject a prospective buyer.
Do I receive a contract from you if you are to accompany me in my project?
Yes, definitely. This also serves your security and is in line with our requirement for complete transparency.
Do I have any claims in the case of incorrect advice?
Of course we have a liability insurance as business consultants. This is always noted in the consulting contract with the insurance policy number.