Irish travel agency owners face increasing pressure to plan an exit strategy as consolidation accelerates and many reach retirement age. Personal experiences shared at the ITAA conference highlighted the emotional and financial complexity of selling or passing on a business built over decades. Speakers emphasised that leaving decisions until the last moment often results in lost value or forced closure.
John Galligan and Paul Sexton told the annual conference of the Irish Travel Agents Association in Alcobaca in Portugal that agency owners frequently identify so closely with their businesses that separation feels like losing part of themselves.
Both men described the process as involving grief, identity crisis, and the need to redefine purpose after decades where the business and the person became inseparable. They stressed starting succession planning five to ten years in advance.
Tax-efficient exit routes exist but require early preparation. Owners who delay risk discovering their business has little marketable value once staff loyalty, customer relationships, and personal reputation are stripped away.
Buyers seek recurring revenue, strong management teams, and owners who have already reduced day-to-day involvement. Many agencies acquired in recent years were purchased only after original owners left planning too late.
The industry offers low barriers to entry compared with retail or manufacturing, with startup costs around €25,000 historically possible. Younger entrepreneurs can still build profitable lifestyle businesses combining good income with enjoyment of the work. However, consolidation means smaller agencies must actively cultivate value through niche focus, digital marketing, and professional management to remain attractive for sale or succession.
Key takeaways include the necessity of separating personal identity from the business, the advantage of planning exits years ahead to access tax reliefs and maximise value, and the continuing opportunity for new entrants despite industry maturity.
John Galligan shared: “I was John Galligan and Travel was me, that identity was one, not two. Who am I without my business?”
Marian Benton shared: “Think of it in terms of selling your house… their money is in your bank, and you drive past them on the day and there’s your brand new kitchen at the skip. Drive on.”
