How do I check an outfitter’s relationship with local lodges and campgrounds?
Ask which lodges and campgrounds send customers, give access or host trips, and whether any of it is written down. Then speak to them. Many of these relationships live on a handshake with the seller, so find out what is formal, what is informal and what may end with the sale.
Ask the seller to list every lodge, campground and landowner the outfitter works with. For each, note what flows each way: referrals, shared bookings, access to launch points or sites, storage or commissions. Request any agreements, and look at how often those partners show up in the booking records. Look for partners who send more business than they receive, as those relationships may be the most valuable and the most fragile.
Next, speak with the partners themselves, with the seller’s permission. Ask how long they have worked with the outfitter, what they value, and how they feel about a new owner. Some will stay out of loyalty to the person, not the business, and it is better to know before you commit. Ask whether any partner also works with competing outfitters, and how that has affected bookings.
Finally, think about what you would need to rebuild. Access arrangements may be personal or require approval. Plan introductions and a transition period with the seller. Ask your lawyer to review any permissions or agreements, and ask your accountant how commissions and shared costs appear in the books. If a key relationship is with one person at a lodge, ask what happens when that person moves on.
Key takeaways
- List each partner and what passes between them and the outfitter.
- Request written agreements and note what is only a handshake.
- Meet the partners and plan introductions with the seller.
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Due diligence
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 02Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
- 03Business Development Bank of CanadaGovernmentHow to diversify your supply chain
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