Time for an exit strategy?

Holidays at home mean a good time to sell your tourism business, says Miller Commercial head of department, Graham Timmins


At the time of writing it has been announced that 2016 was the hottest year in the UK since records began. Combine this with more and more people taking holidays at home – staycation and nearcation as the tourism industry calls them – and you can see that now is very much the time when people will be thinking about buying that tourism business that they’ve always thought about, whether that be a guesthouse, a hotel, or a related business that benefits from tourism such as a cafe, restaurant or pub.

Which means if you are the owner of a tourism business and you been thinking about an exit strategy, for whatever reason, then now could be an excellent time to sell your business.

Many of our clients who purchased tourism and leisure businesses through us in the last few years have reported an excellent 2016 and tell us that they have high hopes for an even better year in 2017.

Some campsites said they could have filled their pitches five times over and that general spend in cafes, bars and shops that benefit from tourism were up between 10% and 20% on the previous year.

The south west is regularly voted the premier tourism region in UK and Cornwall for the fifth year running was voted top county to visit. The economic backdrop post Brexit in terms of the weakened pound against the dollar and the euro, has made the UK cheaper for our foreign visitors and of course more expensive for us to go abroad.

This all adds up to Cornwall in particular looking like a very attractive place to invest in a tourism business – making now the ideal time to sell.

Selling a business is a big decision. However, by utilising our expertise for selling businesses in the leisure site, catering, licensed premises, hotels and guesthouses sector your sale can be both smooth and rewarding.

At Miller Commercial we pride ourselves on the personal service, attention to detail and speed of response we offer all of our clients.

If you are thinking of selling your tourism business then now is the time to call or email me, Graham Timmins, on 01872 247036 or via gt@miller-commercial.co.uk.

I’ll arrange to come and see you and your business and start the search for your ideal buyer.