The 7 Hats of a Travel Corporate Finance Advisor

What exactly does a Corporate Finance Advisor do? 

The world of corporate finance can be all too unnecessarily shrouded in mystery. Indeed, this is one of the reasons why we set up Summit Advisory.  We had heard admitted just one too many times from insiders at ‘big boy’ firms, and even some smaller ones, that their fees and fortunes depend on the mystique of their role and language. Frankly, we believe that travel business owners deserve better. Furthermore, we believe that better results are achieved by mutual understanding.

So instead of leading you a merry ‘Dance of the 7 Veils’, we hope you enjoy our somewhat lighthearted unveiling of the 7 Hats we find ourselves wearing when it comes to selling your Travel Business.

7 hats image

  1. Alchemist

We’re not just referring to the ‘pot of gold’ we deliver for you in a business sale. Before we ‘go live’ with your Sale Process, we need to review your business numbers for sale purposes…which frequently results in higher profits. Formal Financial Statements are often more about minimising corporation tax than maximising sale proceeds. What we do is not alchemy but simply the correct way to sell your business in its true light.

  1. Story Teller

Selling a travel business is not just about your numbers, but also your business story. And not just its history but its strengths today, as well as future potential. It’s what your Accounts leave out that can really drive the multiple:….your customers, products, people, IT, distribution & more.

  1. Sherlock Holmes

Our little Black Book of prime contacts is invaluable when it comes to investigating and detecting the most ‘wanted’ buyers for a business. It’s anything but elementary and extends worldwide, as necessary.

  1. Matchmaker

Chemistry is key for any successful deal…..especially if  Buyer and Seller need to work together for a handover period. What looks like a perfect business match on paper, may fail from the personality perspective. This works both ways.

  1. (UN) Diplomatic Negotiator

Telling a Seller or a potential Buyer that  their business valuation is hugely unrealistic calls for diplomacy and tact. Deal negotiation is best from a position of strength. So we create competitive tension. But successful negotiation means a ‘win win’ deal for both parties or deals subsequently fail to complete.

  1. Trouble Shooter

Deals can stall. If tough talking is needed with the Buyer, the lawyers, accountants, regulatory bodies or even with you, the Seller, we step in to protect your interests and keep your deal on track.

  1. Agony Aunt/Uncle

‘My business is my baby’ is a statement we frequently hear. Selling your business can be an emotional roller coaster, as well as mentally arduous. We coach and mentor you to stay focused on the End Game.  Remember a Sale process is a hurdle race, not a sprint. It doesn’t matter how many you’ve overcome if you don’t persist to the Finish Line.

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