Travel Agency Worth

I agree with the experts that a shakeout is taking place due to the current economic downturn. If you have not positioned your agency at this time either to be a part of the larger travel organizations or to become a "boutique," then you might want to start thinking about your strategies for the future. Your key starting point is determining your agency's net worth.

There are four critical areas that comprise an adequate and accurate agency valuation plan -

- operations/resource management,
- market position/agency image,
- financial management, and
- business history

Future articles will include financial management, market position/agency image, and business history. Today let's consider -

Operations and Resource Management

Automation - Computers and Telephones

As a general rule, the more automated you are, the higher your productivity per employee and consequently the higher your profitability. Additionally, more time for agents to have face-to-face or voice-to-voice contact with customers means better service. Bear in mind that if you've been computerized for at least three full years, you are over the start up pains and the equipment is part of your routine.

What computerization was to a travel agency five years ago, telephone systems will be for the next five years. Your phone system will make or break you. Chances are if you have an old-fashioned key button system, your productivity is low and your ultimate valuation will reflect that. You should at least have PBX and ACD systems.

Personnel

Regardless of whether a buyer will be managing your business himself or hiring you to stay on as a contract manager, your personnel are the absolute key to success under new ownership. I have seen agencies sold and then watched half the staff leave the next day with their "following" because they were offered a better deal by another agency. The result is usually a bonanza for lawyers and the disintegration of your former business. You can generally avoid such a crisis if your turnover is low, staff experience levels are high, and you have a strong incentive program supplemented by a solid portfolio.

Other Resources

The travel agency business requires an incredible amount of detailed data and consistent, logical operating systems. The question is: Have you been able to maintain an organization that cuts smoothly through all these ancillary materials and procedures? For example:

- the latest work flow changes in your agency;
- staff telephone manners and the way you present your agency to the public;
- your quality control processes before documents go out to the public;
- updating the mailing list; and
- your system to follow up on hotel commissions

And what about your space? Naturally, a buyer will want to see his new business grow. If your space restricts that, or if your lease is about to be renewed at double the cost, any future projections will be impacted and your agency is worth less. Therefore, prior to sale you might want to check with your landlord as to a potential new arrangement with the new owner.

Good management

The common thread in the criteria above is organization. If historically and financially you have done well, but if the key to your success has been your absolute and autocratic management - i.e., all of the company's records are in your head - obviously, a new owner will not succeed. Therefore, good management not only shows in the results but in the ability to turn the reins over to new management.

Obviously a potential buyer is far more impressed by an organized, well-planned operation in which you can show your original business objectives, the current variances or changes in plan and your rationale behind it.
In all of the criteria above let me stress the most important common element - consistency - as crucial.

Do you really present a credible picture to the buyer? Do you have a dashboard that measures your activities and allows you to make mid-course corrections in the event one of your "instruments" indicates a problem?

Your answers to these questions will help determine your agency's net worth - and its value in the marketplace.

Travel business consultants such as Travel Business CPR will review and prepare your operation for sale on your behalf. Tharwat Abouraya, CTIE President Travel Business CPR - Bring Strategy to Life! http://www.travelbusinesscpr.com Article Source: http://EzineArticles.com/?expert=Tharwat_Abouraya

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Bali Travel Offers Adventure, Wonder and History

The world is chock full of destinations that are all worthy of consideration when it's time to make holiday plans. There are not many places, however, that can compare to a particular island in the Indonesian archipelago. Bali travel melds adventure, history and wonder into a single experience that is virtually certain to create memories to last a lifetime.

Located only a few hours away from Australia by plane, this unusual destination packs a great deal of fun into 5,632 square kilometers. Here holidaymakers will find weather that is perfect practically year round. With warm tropical temperatures ranging between 20 and 33 degrees Celsius no matter the time of year, visitors to Bali are often surprised to find sunny days dominate even in the thick of the rainy season.

When Bali travel is under consideration, potential holidaymakers will find these reasons tend to draw travelers from all over the world like moths to a flame:

- The outdoor splendor - Bali is famous for its breathtaking geography. The island is surrounded by warm turquoise waters that lap at white sandy beaches. From quiet lagoons just right for swimming and snorkeling to more "active" beaches that call to surfers and adventure sports lovers, the waters here are ideal for year round fun. Whilst the beaches are certainly a draw, they are not the only outdoor wonder that awaits those planning Bali travel. This island is also famous for its lush tropical forests, active volcanoes, tiered rice paddies and incredible lakes and waterfalls.

- The history - Bali has a history that dates back thousands of years. Evidence of its most early inhabitants can be found in a variety of sites all over the island. From the temples in the Mount Agung complex to the wonderment of the Tanah Lot, visitors here will learn much about the peoples and cultures that have touched Bali throughout the ages. With its strong ties to the Hindu religion, holidaymakers will discover that many of the island's most splendid outdoor attractions have also served as places connected deeply to religion through the ages.

- The culture - Balinese culture is known for its distinct arts, form of dance and cuisine. Those who plan Bali travel will find themselves arriving on a island that is known the world over for its welcoming hospitality and unique traditions.

- The adventures - Bali is one of the few places in the world where people can get up close and personal with gray monkeys, elephants and a variety of other tropical creatures all on a single vacation. If fauna doesn't appeal, those on Bali tours will find that plenty of other adventures await. Bali tours can unlock adventures that are found nowhere else in the world. From Odyssey Submarine trips that take holidaymakers into the depths that surround the island to a trip to the 11th century Elephant Cave, there is no shortage of opportunities to do and see things that cannot be experienced anywhere else.

When an experience like nothing else is desired, Bali travel will deliver. Combining adventure, wonder and history, this legendary island offers holidaymakers an opportunity to explore paradise on earth.

Looking to book holidays to Bali? Then find Bali hotel accommodation, other tourism resources and Bali island tours with Bali Dream Tours. Make online bookings for hotels and villas in Nusa Dua, Jimbaran, Tuban, Seminyak, Ubud, Kuta, Sanur and other areas of Bali by visiting Bali Hotels.

Article Source: http://EzineArticles.com/?expert=Raymond_Horsfall

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Guide to Locksmith Tools For Lock Picking

As with any other trade, locksmithing has its own set of unique tools. Looking at them piece by piece should be puzzling, if you do not have a background on locksmith service at all. Special tools are used for special purposes just like a carpenter's hammer is used only for pounding nails into place. Locksmiths have a keen eye for detail as well as skilled and deft hands to pick on the tiny little parts and mechanisms of a lock.

Lock picking is probably the most common task asked by customers from locksmiths, as this is the easiest and most inexpensive method of opening a locked door. Rather than have a locksmith replace your lock, you will always try to have him to open it first without necessarily prying the door. Locksmiths use several tools for this specific purpose as listed below:

1. Plug Spinners. Plug Spinners are used to lift, rotate and move the plug so that it goes back to its natural unlocked state. Handling this instrument requires a locksmith to have prior knowledge of the accurate positioning of the lock components.

2. Computerized Picks. Computerized picks are used by locksmiths for more complicated lock types such as combination systems. This instrument is made of steel and is capable of configuring up to 6 pins and disc patterns.

3. Tension Wrenches. The tension wrenches are used to control and apply the exact amount of turning pressure needed to access the shear line. Locksmiths usually carry 3 types of torsion wrenches: light, medium and rigid.

4. Key Extractors. These tools are used by locksmiths to remove broken keys, key parts and other foreign material key parts, broken keys and other foreign material that are wedged into the lock cylinders.

5. Electric Pick Guns. Electric pick guns are basically small drills powered by electricity. The picks can be replaced, just like any other regular electric drill. A locksmith will typically have an array of picks in different small sizes.

These five tools cover the basic gadgets for lock picking. There are more tools used by locksmithing for other purposes such as installation and repair. Some of them include deadbolt installation kits, locksmith hammers, key cutters and router drills. The next time you call on your reliable locksmith service, check out what instruments he uses when performing the job. Having fundamental background on the tools of locksmiths will give you a general idea on how the work is done, and if indeed your locksmith is carrying with him the right equipment.

Using the wrong tools might cause more damage than good! If you are doubtful of your locksmith's tools, you can purchase your own set of lock-picking tools which can be found at practically every hardware store. The next time you call on your locksmith, you can ask him to use your tools instead. Or perhaps you can try using the tools yourself - who knows, you might have a future career as a highly skilled locksmith! Make a little effort to experiment and find out if you indeed have the natural ability to pick locks.

Julius Neilson has published a number of articles on blog and press release about 24 hour locksmith services, auto locksmith services and emergency locksmith. A couple of his articles tackle the best installation and repair services that you'll see online such as http://www.911locksmith.com/index.php, this is her way of providing you relevant information on taking care of your home and car.

Article Source: http://EzineArticles.com/?expert=Julius_Neilson

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