Benefit from buying a tourism business

New Zealand visitor numbers continue to grow, with International visitor spending projected to increase 48 per cent to $11.1 billion by 2021, according to new Government forecasts. Tourism is now firmly number one as New Zealand’s prime industry. If you have considered getting into the Tourism Industry, then buying a business in this sector can provide a lucrative lifestyle, attracting the sociable, savvy and adventurous. Opportunities abound in every corner.

Richard O’Brien, director of Business for Sale listing website nzbizbuysell, believes it is an opportune time to benefit from this growing sector.

“While a growth market is desirable when buying any business, tourism is flourishing, and business buyers still need to exercise care ensuring the business has a future and will provide a suitable return to support the lifestyle you want “ He says while there are some great opportunities, it is more tactical buying in today’s flourishing market compared to grabbing a bargain in a downturn.

Tourism business opportunities range from adventure activities such as ballooning in Canterbury through to high end luxury resorts, cafes, transport and accommodation in tourist hot-spots.

There is always a much higher success rate with buying an existing business. Established accommodation and adventure operations will usually have a sound financial history, new and returning customers as well as proven systems.

“Buying a business removes some of the risk, and you are investing in something with a track record, cashflow and profits. Someone else has invested the hard work into its establishment.”

Tourism operators have the security of knowing that industry partners such as Tourism Association New Zealand are working hard with initiatives to increase tourism numbers and spend into the next decade.

He says it is especially lucrative when a new owner brings to the table their energy, expertise and their own touch to improve upon what is already there. A change of service, marketing, and systems plus additional services or any unique point of difference; can all help bring better success. With social media, websites like Trip Advisor and booking mediums that include reviews with the listing, word can quickly get around the globe about newly discovered places in New Zealand.

“To be successful it helps if you have a passion for what you do, have a vision for the business, and have the skills to run it,” he says. Often the previous business owner will help you get started or provide mentoring, so prior business experience is not  always necessary.”

“A good option is to visit several businesses that appeal and get a feel for them, find out about their profitability and see if you can visualize yourself running it.”  Business brokers who work in conjunction with nzbizbuysell can also help match buyers with available opportunities of which around 50 percent are tourism related.

The diversity on offer is as varied as the New Zealand landscape. nzbizbuysell is one of the main online listing platforms allowing people to search the opportunities to see what exactly is out there.

From the modest but bustling city-centre cafe to a remote high-end lodge, there is a tourism opportunity for all on www.nzbizbuysell.co.nz