24 Jul Key Questions For Buyers
These articles are courtesy of BobSweeney of Innovative Travel Acquisitions. This firm is one of, if not the preeminent, travel brokerages in the country. Their comments are of interest to all business brokers.
Many experts are predicting a huge wave of businesses will become available for sale over the next two decades as baby-boomers will be ooking to retire. We suggest you ask five key questions when acquiring a tour or travel-related business.
Five Questions for Buyers
- Who runs the business and how does business function when the owner takes a two week vacation?
- Do the numbers add up? – Will the business provide a rasonable return on your investment and time?
- How does the business attract leads? – Which marketing channel provides the most/best leads?
- Will the business survive the transition and will key employees stay on post transaction?
- Will the seller put any skin in the game? – Are they willing to stand behind the business’s 1st year post-sale performance?