trading for over 7 years, this very successful business has grown rapidly to the current trading levels of around £2 million turn-over per annum. The owners have extensive experience in the travel sector in the far-east going back over 30 years and they have built a team of qualified travel consultants, well versed in all travel destinations, but with a particular focus and language skills to service a highly populous region of the far-east. As such the business is a main agent for several far eastern and asian international and domestic airlines. The far eastern destinations that the company specialises in currently accounts for 95% of revenue, with the remainder made up of world wide travel and city breaks from london. With further marketing plus the consistent high footfall of tourists passing the prestigious address, this could easily be expanded upon. Staff are all very experienced and well trained. Far eastern ex-pats themselves, they are able to communicate with customers and suppliers in their own language and draw upon their local knowledge, resulting in a very high share of custom from the local marketplace. Perhaps more importantly ensuring that every booking is exactly to customer requirements and excellent value for money. The business is registered and is a member of iata (international air transport association) and is atol licensed. This travel agency offers a friendly foreign exchange service to their customers with the best rates and commissions. The company have agreements in place as a main agent for a number of far eastern and european airlines including klm and cathy pacific. This allows the company to issue tickets directly, and also sell-on to other travel agents in the u.k. Adding a further valuable revenue stream and building on the their reputation in the industry. Equipment: the business has invested extensively in technology and employs a computerized administration and booking system as well as using the internet and e-mail to ensure clients have constant contact and support from the company. The business utilises the “global distribution system”, which earns them around £15,000 in commission per annum. Alongside this, the staff are all fully trained to use both “worldspan” and “amadues” booking systems also. Customer service: 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, personal customer care has earned it a deservedly strong reputation amongst customers and suppliers alike – reflected in the level of repeat customers built-up over the years, with 95% of clients returning. Key strengths: with such a high level of repeat business centered on a large ex-pat community travelling to a particular region of the far-east, the business now has a major foothold in the u.k. Market. The business is much more predictable than many other high street travel agencies with spend per passenger higher than average. Situated as it is on a busy high street in the heart of the capital and close to some major tourist destinations, the business enjoys business from london, and via their integrated telesales and internet booking operation. The company’s highly trained and very experienced ex-pat staff have the ability to communicate with customers in their own languages providing a very personal and efficient service, ensuring high levels of customer satisfaction and significant repeat business growth and expansion opportunities: having foreseen the trend for more and more travel being booked via the internet the business has invested in a web-site that lists top destinations and special offers. The website directs potential clients to make a booking immediately via the telephone, where there is a qualified consultant always on hand to handle all requests in depth. As a specialist operator with highly trained staff there is considerable scope to offer a wider range of far eastern focussed services to its current target audience. In addition, having built a significant reputation for competitive prices and excellent customer service, there is the possibility of widening the business’s appeal amongst the local population in this tourist hot-spot of central london, providing short-haul and local travel offerings to the huge amount of tourists n their doorstep.
| Ownership: |
no |
| Lease: |
yes |
| Lease terms: |
The current rent is approximately £18,000 per annum, with business rates of around £7,000. |
| Location: |
The business occupies 2 floors in a listed building on a 10 year lease, with approximately 6 years remaining. On the ground floor, there is a large office occupying around 500 sq ft, currently with desk space for four, but easily expandable to accommodate 7 or 8. Downstairs in the basement area is a small directors office of approximately 180sq ft, with a further small office of 100 sq ft, currently used for ticket admin and storage. There are toilet and staff facilities downstairs also. The upper floors are currently leased separately.
The premises are located close to a major tourist attraction in central London, and close to one of the busiest train & bus stations’ in Western Europe.
The current rent is approximately £18,000 per annum, with business rates of around £7,000. |
