Should I buy an existing travel agency or start one?

Both routes can work, and neither is the safe one. The question is which risks you would rather carry. Buying swaps the risk of finding clients for the risk of keeping them. Starting swaps the cost of a purchase for a slower first stretch. Think about your experience, your savings and how long you can wait before income arrives.

What buying gives you

An existing agency may come with repeat clients, supplier and host relationships and travel already booked that will earn commission after closing. You also inherit a track record you can examine. Ask how much of that is tied to the owner and the advisors, and read how much of a travel agency’s business leaves with its advisors.

What starting gives you

A new agency lets you choose your niche, your host or consortium and your own team. There is no seller to pay and no old habits to untangle. The cost is time: you build trust with clients and standing with suppliers from the beginning, and you may need steady income elsewhere while you do.

Questions to settle first

Ask what registrations and approvals apply to you in either case, and who must agree to a new owner if you buy. A lawyer and an accountant can answer both. Also ask how the choice affects financing, since a lender may view a purchase and a start-up differently and will set its own terms.

• How long can you go without income from the agency?
• Do you have a niche or clients you could bring with you?
• Would a host, consortium or franchisor have to approve you?