Monthly Archives: June 2020

Due Diligence Travel Agency Acquisition Process

The due diligence review (DDR) is a critical part of the travel agency acquisition process.

There are five key objectives:

1. Identify deal-breakers, which, if unresolved could preclude pursuing the transaction any further:

• Company personnel engaged with conflicting, outside interests

• Financial commitments – employment contracts, leases from previous acquisitions, liens, etc.

• Legal/Regulatory issues- lawsuits, client complaints

– Quality of work

– Questionable accounting

– Questionable expenditures

2. Verify representations received from the seller, such as key assumptions made about employees, compensation, systems, key statistics.

3. Obtain a more detailed understanding of the business:

• Types of clients

• Business mix

• Sources of revenue

4. Obtain information vital to negotiating the transaction:

• Salary and benefit information for employees

• Inventory of furniture and equipment

• Inventory of computer systems and software

5. Identify potential transition issue or areas of focus:

• Compensation and benefit issues

• Technical and workflow process issues

• Other

The DDR is designed to assist the Due Diligence Manager (DDM) in efficiently planning, executing, and reviewing the planned transaction. Following a standardized DDR is critical to the successful completion of the review and will ensure that:

• A consistent approach is used by all due diligence team (DDT),

• A standard output (format) is created for each DDR, and

• The duplication of information gathered or requested of the owners is eliminated.

The DDM is responsible for the overall planning and final review of all work and the development of the final report.

PHASE I: Meeting/conference call with Deal Owner, Acquisition Manager and DDM

Goals:

• Communicate overall vision and strategy of the DDR.

• Share information that has already been obtained to eliminate the duplication of data- gathering efforts.

• Identify DDT members.

Reporting: Recap the discussion/decisions and provide a copy to each party.

PHASE II: Meeting/conference call with Acquisition Leader, DDM and DDT Members

Goals:

• Share new information.

• Review the need for confidentiality with acquired firm contacts and external sources (i.e., media).

PHRASE III: Meeting with DDM and Firm Owner and/or Main Contact

Goals:

• Review the DDR.

• Provide the list of items that the firm will need to produce.

Reporting: The DDM will complete the recap of each call.

PHRASE IV: Data gathering process begins with the DDM, Team Members, and Firm Owner & Contacts

Goals:

• Complete the due diligence data gathering (DDM, Firm owner/firm department contact).

• Complete the “Summary Report” memo (support team member).

PHRASE V: The DDM completes the Final Report and provides it to the Deal Owner and Acquisition Leader.

Offsetting Air Travel Emissions As a Green Business Practice

We all know that air travel has impacts on the environment and a number of companies now include offsetting their air travel carbon impacts as one of their green business practices. However this is not as easy as it seems. Carbon emissions are not the only impact from air travel and different offset calculators use differing methodology to determine how much should be offset. Aside from this, the level of your personal emissions also varies depending on flight distance, the type of plane and whether you are flying business or economy. This article will help you understand some of the different factors that contribute to your personal air travel carbon emissions.

Aeroplanes burn fossil fuels to operate which release CO2 into the atmosphere. There are different opinions on how much air travel contributes to global CO2 emissions with figures ranging from 2% to 10%. Not only are CO2 emissions an issue but aeroplanes also release water vapour, nitrogen oxides and methane. The environmental impact of these is greater when released at high altitude than what it would be at ground level. While these impacts are not entirely understood, it is generally agreed that a radiative forcing factor should be used when determining the impacts of air travel. Radiative forcing is the rate at which a given atmospheric gas alters radiation that is entering the atmosphere.

Not all emissions calculators include the radiative forcing factor in their calculations which underestimates the environmental impact of the flight. To make it even more complicated there are differing opinions as to what the radiative forcing factor should be set to. The Intergovernmental Panel on Climate Change (IPCC) recommend a radiative forcing factor of 2.7 and this seems to be most commonly used. So for a more accurate assessment of your flights impacts, you want to choose a calculator that includes radiative forcing but the story does not stop there.

There are a range of other variables that affect your individual emissions. First is the distance traveled and whether this is long or short. Short distance flights are less fuel efficient overall due to the fuel consumed during takeoff and landing but they also generate less condensation trails (water vapour) due to the shorter time spent at high altitude. The type of plane will also impact the level of emissions from the flight as newer model aeroplanes tend to be more fuel efficient.

As for the emissions each passenger is responsible for, this will vary depending on whether the flight is full and whether the person is traveling economy or business. If the flight is not fully occupied, each person will have to offset a higher level of emissions to offset the whole impact of the flight and if you are traveling in business class, you are taking up more space and will be responsible for a greater percentage of the emissions.

As you can see calculating the emissions to offset air travel is not as straight forward as it first seems, in spite of this an understanding of the factors that contribute to your personal emission levels from air travel gives you a better idea how your travel decisions impact the environment.

Y2B Travel Review – Where Can I Make Lots of Money Fast? Marketing Opportunities and Key

Y2B Travel

The chance to have the freedom to be your own boss, manage your own schedule and organise the business in your own way, to suit your own needs and personality is an amazing opportunity. This is a dream for many people and has been for many years, now we are seeing this dream come true for many with the variety of online home business opportunities that are cropping up all over the internet and offering amazing deals and promises of major financial gains.

Y2B Travel offers you the chance to own a travel business that you can use from your own computer anywhere in the world, you can start selling travel booking and tickets through the internet to make your own commission and profits. Y2B Travel has two parts to its structure, as you will receive the program that allows you to sell the travel bookings but also it is a multi-level publicly traded company and you will receive further commissions by on-selling the offer to other people. This is the area that is most profitable as the 2-up system means you will receive the first 2 sales of all the people you recruit and a percentage of their sales after that.

The travel industry is currently one of the most popular and competitive industries in the world and you are going to find it difficult to break into a decent profit margin by selling bookings as there are so many competitive rates and sites out there. Using the products that you receive for your own advantage is still a good deal though, there are many travel discounts as well as learning and educational materials relating to internet marketing and advertising.

People need to be aware of all the products available and what they have to offer. Reading the small print and getting the most detailed description of all the companies will allow people to make the best and most informed decision regarding which company they want to sign with. Y2B is one of the higher priced companies and is not brilliant for the price they are asking, though it does have the advantage of different entry levels which can be cheaper and less involved.

You will also need to put in a lot of work to your business to ensure that you are successful and gain the most profits you can. There are many other business opportunities that require less effort on your part, though of course still some, and that are less competitive and have higher chances for increased profits. You can find a lot of opportunities through internet searches and related websites.

Key Factors to Consider When Buying a Travel and Tour Franchise

If you are considering investing in a travel and tour franchise, it is likely that you have many questions. For many people, the idea of setting their own business can be incredibly daunting experience, but also one of the most liberating experiences of their lives. In this article, we will look at some of key considerations which you should factor in when making this decision.

The travel and tourism industry is literally booming globally – now contributing over two trillion pounds to the economy. More and more people are thinking about how they can get involved in the travel and tourism industry, recognising the explosive and exponential growth. Starting your own travel business from scratch is one option that people often consider, however starting without a network of contacts or even a base starting point can be extremely tricky. A huge number of start ups will fail within 12 months, so always try to avoid this pitfall.

The more popular market to success within the travel industry is the travel, or tour franchise market. What this essentially means is instead of setting up a travel business from the beginning, you can buy a travel franchise which actually gives you a firm starting point to begin your business. There are quite a few travel franchise businesses online, however there are probably only a couple of established businesses. If you do choose to purchase a tour franchise, make sure to do your research and pick the franchise company which is the best fit for you.

So what can you expect in terms of support when you buy a travel franchise? When buying a franchise, there are always different levels of support. Think of this a three-tiered membership: platinum, silver and gold. The more initial investment that you are willing to put up, means the greater level of support and guidance that you are likely to receive. Nonetheless, there are some common levels of support which you should expect from all travel franchises.

The first thing you should expect is a fully comprehensive training or induction programme. Lots of franchise operators will actually offer a residential training course, so this is likely to be an intensive course over a number of days or weeks. This can be a great opportunity to spend significant time with the franchise tour operators and really pick their brains, whilst trying to soak up an incredible amount of information.

It is also likely that they will be inducting a number of other new franchisees at the same time. This is also a fantastic opportunity to meet some like minded people who are also at the beginning of the same journey that you are on. If you can take the opportunity to spend time with them and get to know their motivations behind setting up a new franchise, you can increase your knowledge but also begin to build up your travel network. In the travel industry in particular, your network and who you know can really be a determining factor in how well you do.

You can also expect some of the more practical tools for setting up a new franchise. This might include a laptop, hopefully pre-loaded with any specialist software and templates that you might need. This may not always be included as a standard support tool, so you should always try to make sure that you fully understand everything that is being provided. A functional website, which is branded towards your company name and logo, is also something which you expect.

Finally, you might also receive some branding materials, such as leaflets, tri-folds and business cards. Remember when you meet potential clients, handing them a business card can be a great way to exchange your details with them and keep in touch.

7 Ways To Cut Travel Expenses From Your Next Funding Round

You’re on the funding round trail to secure cash to boost your start up or to take your existing company to the next level. If you’ve tried and failed at all the sources you could try without leaving your office, and you simply must travel with following seven suggestions for getting you there – and back – without doing it on a wing and a prayer, and without giving your bank balance too much of a pounding.

  1. Why are you booking all this travel? Yes, I know, you couldn’t get funding sitting in the office. But that’s why you’re travelling, not why you’re booking it. Get a travel agent involved. They’re specialists and you’re not. Every trade has its tricks, and the travel business is no different. Giving a list of dates and destinations, and let them iron out the hassle. You could spend the time saved with the family to iron out the hassle of being away on another business trip. Hey, I’m just saying…
  2. Set the rules. Don’t let the travel agent upsell you into upmarket hotels with complicated pillow menus and in-room saunas. You’re trying to generate cash on this funding round, not spend it. The hotel room is a place to sleep for one or two nights; you’re not moving in. Set a budget and have them work within it. Being clear at the outset helps them to help you.
  3. Get on the chain gang. There’s something comforting in the familiar, and that’s what you’ll find if you work with the same chain of hotels. What’s even more comforting is that you’ll be able to tap into loyalty schemes that will make your trip cheaper. We’re trying to raise money here. See tip 2.
  4. Travel light. You can move faster if you travel light. Get your packing down to a fine art, and manage with a carry-on bag. Be sure it’s a size that airlines will accept, and you can be the first to the cab rank when the flight’s landed, rather than watching a broken push-chair trundle round the baggage carousel. Look, it’s coming around again… I wonder if your case has gone to Birmingham, UK, rather than Birmingham, Alabama? Maybe that’s why it hasn’t appeared yet… Oops…
  5. Eat out. What kind of crazy advice is this? Why would you eat out, when you’re staying in a hotel? Well, a couple of reasons, actually. Firstly, if you’ve squeezed the budget very tight, you may well be staying in an hotel with no restaurant, but even if you’re not, getting out in the evening will get you some exercise whilst you’re walking around to find the right kind of eatery, and secondly, you’ll get a flavour of the city you’re visiting, and that’ll come for nothing. Exercise and sightseeing at no cost? What’s not to like?
  6. Whose money is it anyway? If you’re on the hunt for finance, chances are it’s your business that’s footing the bill, so consider this. How about paying for your own meals? It’s what you’d do at home, having shopped for groceries or picked a restaurant, so why not do the same on a business trip? In the grand scheme of things, it might save only a few pennies, but hey, it’ll all add to the profitability, even if only a tiny bit. Travel expense management software is a brilliant tool for keeping track of what you’ve spent, allowing you to reassure yourself that you’ve had value for money.
  7. OK, you win. So, you want to do it yourself, all this travel booking malarkey. Go ahead – but do me a favour. Use some travel and expense management software. Failure to do that means the whole thing will be out of control, and no matter what it says on the plane ticket, you won’t know where you are financially.

Top Tips For Business Travel Safety

Do Your Research

If you’re going abroad, do some research on the country before you go. Make sure you have any vaccinations you may need and all the correct documents, and are familiar with the laws of the country. It’s also a good idea to keep up to date with any political disturbances to avoid dangerous situations.

Electronics

You can never be too careful when using electronics. If you’re working whilst travelling, ensure you have arranged a data plan before you leave so you don’t have to use open Wi-Fi connections – these are not always secure and could result in data loss for your company. It’s also not a great idea to use public computers as again these are usually pretty simple to hack.

Watch your Luggage

Throughout your journey, always keep an eye on your luggage. If you are taking a carry-on, choose a bag that fully zips up and if any of your luggage contains important documents be sure to use a coded padlock. When taking a laptop, avoid putting it in the overhead as it could be stolen or damaged; instead keep it on your lap or place it under the seat in front of you. As long as you’re careful with your items you should be fine.

At the Hotel

One of the first things you should do when you get to the hotel, is check that there is security available 24/7 – available by phone and there should also be a patrol. You should also always leave the “do not disturb” sign on your door to stop anyone from coming in, and only answer the door if you are expecting someone. If you have booked the hotel independently, make sure your company know where you’re staying.

Business Travel Security

Business travel security is available; this can be especially useful if you’re going to a high-risk area or carrying out important work that you could be targeted for. They can provide risk assessment and management, travel training and close protection amongst other things. If you work for a company, you could suggest they look into this for all staff to reduce the risk of any issues and make staff more comfortable with travelling for work.

Avoiding any threats to yourself and your work should be your biggest concern when travelling. By taking small precautions you’ll make your trip run smoothly and ensure your security, leaving you to focus on the work at hand and come home safely.

YTB Business Opportunity Review

YTB business opportunity is offered through YTB International, Inc. YTB is “your travel business.” It operates under various trade names including ZamZuu, YourTravelBiz, YTB Travel and Cruises, YTB Travel Network, and Sunrise Travel Services. In the YTB business opportunity you are known as a referring travel agent (RTA) and you can refer customers to your main travel site or YTBGolf, YTBRomance, YTBFlowers or YTB Cars the minute after you join. No training is required to refer customers. You can also learn to be a licensed broker and earn higher commissions. Licensed or certified travel agents pay a $49.95 monthly fee. YTB E Campus is an online Travel Agent Certification program with training at $29 per module. Is this something that you can use to get discounts on travel and to collect additional income?

Publicly Traded Company

The company was founded in 2001 by J. Lloyd and Scott Tomer and Kim Sorensen. They are headquartered in Wood River, Illinois. The company is traded on the over the counter market bulletin board and pink sheets. Recent market prices for the stock are approximately $.04-$.08 per share. As of January 1, 2011, RiskMetrics Group rated the Board as high risk, and shareholder rights as high risk. This is to be expected for a stock the market is valuing at less than ten cents. Still, the company does appear to be expanding and adding new services. Just be careful to complete your own due diligence. There is no fee to join.

YTB Business Opportunity

In addition to travel, YTB members can also refer customers to a free replicated ZamZuu store front with a commission on 500 stores offering a broad category of products from pet supplies to electronics.

YTB does not try to compete with high service professional travel agents, but competes for travelers who choose to use the Internet as their travel agent. YTB RTAs or referring travel agents simply refer family, friends, neighbors and associates to their replicated web site. It is also possible to book group travel for more income, and you can work part time.

YTB charges $5 for an airline ticket. Income from the store appears to be paid in two ways: a discount or cash back to the buyer, and a percentage of the rebate paid as commission to the referring agent. It appears that you need to generate a large volume of business to make much income, and that the primary benefit is receiving a discount on personal travel packages and being able to refer your site to friends and family, so you could test the company on your own travel first.

To build a larger customer base, you will need to expand your online efforts beyond the provided web pages, to drive additional traffic to your specific site.