How do I sell a tour company when I am the main guide?
When you are the main guide, a buyer is mostly buying you. Reduce that by training other guides, writing down routes and scripts a season ahead, moving partner and booking accounts into the company’s name, and offering to stay on through a transition season so guests and partners meet the new owner with you.
Guests book your tours because of how you lead them, and the reviews say so. That is a strength until you try to sell. A buyer will ask what happens to the company when you step away. The more of the answer you can show, the easier the conversation, and the more options you have. Start well before the season in which you hope to sell.
Reviews that name you
Read your own reviews the way a buyer would. If many name you personally, expect questions. You cannot rewrite them, but you can show that other guides earn good reviews, too. Give another guide a share of the tours for a season and keep the results. Reviews that praise the experience rather than the person are easier for a buyer to rely on. Your accountant can help you present how the company earns without you.
Writing down what you know
Most of what makes your tours good lives in your head: the route, the stories, the timing, the safe spots, the stops that go wrong when it rains. Write it down. Record the scripts, the equipment checks and the way you handle a difficult guest. A guide who can follow a written plan can run the tour, and a buyer who can read it can see the business running without you.
Accounts in the company’s name
Look at where the relationships sit. If a hotel, a booking platform or a supplier knows you personally, find out whether the account belongs to you or to the company, and move it into the company’s name where you can. Your lawyer can tell you how to move what you own and what the other side must agree to. Introduce the people you work with to whoever will carry on.
Offering a transition season
A buyer may feel safer if the seller stays for a defined period, introduces partners and trains guides. Decide in advance how long you are willing to stay and in what role. Put it in writing, with the details agreed by your lawyer. See what happens to your business name when you sell for something else to settle early.
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentAdvice for succession planning - Articles and tools
- 02Business Development Bank of CanadaGovernmentHow to Find the Right Buyer for Your Business
- 03Business Development Bank of CanadaGovernmentHow to minimize negotiations when selling your business
- 04Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
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