There are so many different reasons for a succession, age is classic, but also illness, perhaps one would like to reorient oneself, personally “the air may be out”, the change into the employment relationship and much, much more.
Then the urgent questions arise: Is that even possible? How does it work? What is my holiday home agency worth at all? What do you have to consider? Do I do this on my own or do I get professional help?
Usually you buy or sell a holiday home agency once in a lifetime. As a rule, you have invested a lot of time and energy over the years, family and friends have had to cut back. There were often good times as well as bad. Your life’s work needs to be appreciated. It is always a very individual matter and numerous aspects have to be considered. We know cases of dramatic complications from practice, which we often only get on the table afterwards as part of the expert activity.
Therefore we always recommend professional support and assist our clients before, during and after the sale.
One of the first questions: What is a holiday home agency worth?
We regularly evaluate holiday home agencies and this question is not easy to answer. The value of the company depends on many different factors, which have to be examined in each case.
In particular, we also consider the potential of a company. Because it is often the case that due to personal circumstances (illness, air is out, turnover is enough), service is simply rendered according to regulations. What a new owner could change with commitment and new energy.
Special features of holiday home diagnoses?
Of course, the core questions of turnover, location and yield are important, but also very important things are the customer structure (is there an obsolescence), newsletter, the number of holiday homes and the orientation of the portfolio, guarantee contracts, exclusive contracts, margins, there are channel managers and distribution channels (eg portals are used), there are additional round trips and much more.
How do we proceed?
The first step is to get to know each other personally. It is a project that also requires trust and both sides, you as well as we, must be able to imagine that we carry out this project together.
Before the first appointment we ask you to fill out a small checklist and provide us with a current BWA and annual financial statements. This will enable us to get a first impression and to give you a relatively concrete assessment before the first meeting. Sometimes it is desired that we first get an insight into the appointment, which we respect of course, but please understand that we cannot give an initial assessment in advance.
Tip: we will receive the annual financial statements for the past three years and a current BWA. As a rule, you will also receive this in digital form as a pdf from your tax advisor.
In the appointment we discuss how a timetable could look in principle and numerous options. Afterwards, if you would like to get together, you will receive a contract from us, which you can read at your leisure and have enough time to ask questions. As soon as we have received the contract from you, we will go about the actual work.
We carry out a company valuation and examine the possible purchase prices with regard to different buyers. We then prepare a detailed sales exposé, which forms the basis for the contract negotiations. Together with you, we define a strategy.
We process all enquiries from interested parties, sound out the seriousness of the matter, start negotiations in close consultation with you and arrange appointments. This whole process is accompanied professionally from the beginning, your anonymity is maintained for the time being and you reduce your workload to a minimum.
During the negotiations, everyone “sits in the same boat”. Of course, we can only represent one side at a time. This does not mean that we are willing to examine the documents of the prospective buyer and support him in financing his takeover project. This gives us the best possible overview of the overall situation and enables us to react quickly and flexibly to any problems that may arise.
At a later point in time, when an agreement has been reached regarding the sale, we coordinate the drafting of the sales contract for you, either with your lawyer or, if you wish, we can make recommendations. This is where all the information comes together. We offer a technical platform. Your tax advisor, the lawyer, all other persons involved will have access and thus an efficient and successful implementation can be achieved.