A business owner's exit is a once-in-a-lifetime transformation. We're not talking about selling a house or a car. This is a complex process that requires the technical expertise of a team of trusted advisors. The key to any successful business exit is planning. It must begin with personal reflection on the part of the owner regarding what he or she wants out of the business exit. Only then can the owner, along with his advisors, design an appropriate exit strategy. The five (5) planning steps outlined in this article are designed to help business owners define their personal goals, understand all the transfer options and work with an advisory team to execute a successful business exit plan.
Step 1: Define the Personal Goals of the Owner
Since personal goals intertwine so closely with the daily existence of a private business owner, it only makes sense to begin with the basic albeit crucial question, What do I want to accomplish with my business exit? The answer seems obvious--make the most money after taxes and fees. Often, however, it isn't this simple. Owners have nourished and raised their businesses from infancy; they typically care a lot about who will take the reigns. Family members might also be involved in the business. Their fate will also be dependent upon what the business owner ultimately decides.
Aside from money, other motives for a business exit can include transfers to family, transfers to employees, transfers to co-owners, partial transfers to gain some liquidity today but still run the company's day-to-day business, or an initial public offering. The decision often comes down to a question of liquidity. A substantial source of liquidity outside the business makes for a much easier choice.
However, more often than not an owner's wealth is tied up in the business. The owner must therefore balance his financial and interpersonal goals in order to find the best possible exit strategy. Therefore, an assessment of the range of values for the business is the crucial next step.
Step 2: Understand that a Range of Values Exist for the Business
The value of a privately-held business depends largely upon who buys it. It's not as simple as watching the ticker tape for today's stock price. The type of buyer can impact both the price placed on the shares (or assets) of the business and the tax consequences to the selling owner. Value (net transfer price) is therefore a range concept.
Internal transfers to employees, family, and co-owners provide fewer dollars up front, but allow for greater control of the business, continued income, and flexible timing and tax characterization of payments to the exiting business owner. By contrast, External transfers to other industry players, financial groups, or by initial public offering command more liquidity up front while the owner relinquishes more control over the Company and the timing and tax characterization of payments. A closer examination of the transfer options can help an exiting business owner determine the right balance of money and control over the future of the business.
Step 3: Examine the Options Available for the Transfer of Shares
There are seven (7) primary purchasers of privately-held business stock (or assets). Below are listed the Parties to the Transaction and Types of Transactions Available (samples; not a complete list)
Internal Parties:
Employees - Employee Stock Ownership Plan (ESOP)
Charity - Charitable Remainder Trust
Family - Gifting Program
Co-owners - Leveraged Buyout
External Parties:
Financial Groups - Recapitalization
Industry Buyers - Acquisition (at Synergy Value)
Initial Public Offerings - IPO (at Public Market Value)
Based on the primary goals defined in step one (1), an exiting business owner chooses the party to whom the business will be transferred. That designee, once chosen, will determine the limits or expansion of the Value. At the end of this phase, the process comes full circle as the Value (after taxes and fees) is matched against the owner's goals. If the two meet as one, congratulations! A successful business exit strategy has been devised. Now it's time to execute.
Step 4: Provide Full Financial Disclosure to the Buyer
This step isn't going to be easy on the business owner. Assembling financial records and presenting them to a buyer/successor is a very time consuming, very personal survey of how the business is run. It can be huge psychological block for many exiting owners. Remember, any savvy buyer (or successor) to a business will need to understand the financial condition of the Company. When an owner fesses up to any creative accounting they may have employed over the years to help build wealth and reduce tax bills, the process goes smoother. Full disclosure is the best path to a seamless process. There is an old saying - if the truth will kill a deal, then there is no deal.
Not only that, but it may reward the owner in the end. Full disclosure is not about passing judgment, but instead affords the buyer (or successor) an opportunity to assess the business's true profit potential. The astute exiting business owner will recognize this in advance. Why? Because most creative accounting practices depress the profitability of a business. Clear those away and the Buyer will recognize a higher earning power and in turn a higher Value for the Company.
Step 5: Assembling the Advisory Team No One Should Go It Alone
Planning and executing a successful business exit strategy is a complex process that requires the technical expertise of a team of trusted advisors. It's not the time to take short cuts or pinch pennies. Time and money should be invested in assembling the right team of advisors; a successful business exit is more than worth it. It should be viewed as an investment in success.
We must understand that business owners are independent self-starters. If they weren't, their businesses wouldn't be so successful and we wouldn't be talking to them. But some of their strengths and characteristics can lead many business owners to attempt the do-it-yourself business exit strategy. This can create an unnecessary drain of time and money on both the business owner and their business.
A business owner's exit is a once-in-a-lifetime transformation. It is an important milestone that is sure to provide any business owner with one of the most challenging yet satisfying sense of accomplishments.
So remember, planning is the key to any successful business exit because a proactive approach to an Exit Strategy is the only approach to a successful Exit Strategy. If you've come to the end of this discussion, you're already ahead of the game.
John M. Leonetti
Thursday, July 19, 2012
Tuesday, July 17, 2012
Advantages And Disadvantages Of Income Protection Insurance
Income protection is a type of insurance that is often misunderstood in the UK. As with other types of insurance there are many advantages and disadvantages to having a policy, and here we list a few of them.
First, let's explain a little about income protection. This type of insurance will replace part of your income tax free if you cannot work because of accident, sickness or unemployment. There are many different types of policy, most of which can be adjusted according to your individual circumstances.
Advantages
Income protection can cover up to 70% of your mortgage. This could work out to be significantly more than the government would pay you in benefits.
Some long term policies offer cover until retirement age. This means that if you suffer a long term illness, you will receive your benefits either until you can return to work or until the age of 64.
The money can be used however you please. Most people choose to cover their mortgage, bills and other financial commitments, but it could be used for general lifestyle costs.
The policy can be tied into a particular debt, like a mortgage or credit card repayments.
You can choose cover for accident and sickness only, accident, sickness and unemployment, or unemployment cover only.
Unemployment cover could offer back to work schemes and training to help you find a new job.
Income protection can be designed to kick in only after your sick pay stops, so your premiums are lower.
Disadvantages
Unemployment cover will only pay out for a maximum of 12 months, even if you haven't found a new job within this time.
Accident, sickness and unemployment policies usually only offer 12 months of benefits as well. Long term-policies offer better cover, but are sometimes more expensive.
Pre-existing conditions may not be covered on your policy, so it is important to take one out before you need it.
Similarly, you will not be covered for redundancy if you already knew there was a chance it was going to happen. This protects the insurance companies against people taking advantages of the policy.
Smokers will usually pay higher premiums for accident and sickness cover because they are more likely to fall ill.
It is important never to buy a policy without researching the market first to get the best deal; otherwise you could be paying more than you need to.
Now you know the advantages and disadvantages, it is up to you to decide whether income protection is right for you!
First, let's explain a little about income protection. This type of insurance will replace part of your income tax free if you cannot work because of accident, sickness or unemployment. There are many different types of policy, most of which can be adjusted according to your individual circumstances.
Advantages
Income protection can cover up to 70% of your mortgage. This could work out to be significantly more than the government would pay you in benefits.
Some long term policies offer cover until retirement age. This means that if you suffer a long term illness, you will receive your benefits either until you can return to work or until the age of 64.
The money can be used however you please. Most people choose to cover their mortgage, bills and other financial commitments, but it could be used for general lifestyle costs.
The policy can be tied into a particular debt, like a mortgage or credit card repayments.
You can choose cover for accident and sickness only, accident, sickness and unemployment, or unemployment cover only.
Unemployment cover could offer back to work schemes and training to help you find a new job.
Income protection can be designed to kick in only after your sick pay stops, so your premiums are lower.
Disadvantages
Unemployment cover will only pay out for a maximum of 12 months, even if you haven't found a new job within this time.
Accident, sickness and unemployment policies usually only offer 12 months of benefits as well. Long term-policies offer better cover, but are sometimes more expensive.
Pre-existing conditions may not be covered on your policy, so it is important to take one out before you need it.
Similarly, you will not be covered for redundancy if you already knew there was a chance it was going to happen. This protects the insurance companies against people taking advantages of the policy.
Smokers will usually pay higher premiums for accident and sickness cover because they are more likely to fall ill.
It is important never to buy a policy without researching the market first to get the best deal; otherwise you could be paying more than you need to.
Now you know the advantages and disadvantages, it is up to you to decide whether income protection is right for you!
Monday, July 16, 2012
Health Workers to Get Help With Student Loan Debt
The National Health Service Corps is accepting applications from primary medical care professionals who are willing to work in underserved areas in exchange for a reduction in their student loan debt.
Through the NHSC student loan repayment program, you can receive up to ,000 toward the balance on your student loans if you successfully complete the program's two-year service requirement. Two-year half-time commitments are also being sought, in exchange for ,000 in student loan debt reduction.
Clinicians willing to make a five-year commitment to the program can receive up to 0,000 in student loan debt relief. Eligible applicants who are willing to commit to six or more years of service are eligible to have the entire balance of all their federal student loans forgiven.
The student loan debt relief offered by the NHSC repayment program applies to federal, state, local, and private student loans.
>> Qualifying for the NHSC Student Loan Repayment Program
In order to qualify for repayment through the NHSC program, your student loans must have been taken out prior to your enrollment in the program. The program will not repay student loans that were not clearly used to pay for education or student loans that were not issued by a government or commercial lender (i.e., personal loans).
College loans that have already been repaid; parent loans, such as those issued under the federal PLUS parent loan program; personal lines of credit; residency relocation loans; and credit card balances are not eligible for repayment under the NHSC student loan debt relief program.
In addition to offering student loan forgiveness to qualified applicants, the program also offers incentives for providers willing to work half-time in underserved areas, including more flexible student loan repayment terms and credits for teaching.
Service is needed in extremely rural areas where primary medical care is otherwise unavailable and in more densely populated but underserved urban areas. Qualifying primary care positions are also available at state and federal correctional institutions, community mental health facilities, Indian Health Service provider sites, hospital-affiliated primary care practices, public health programs, and community care facilities.
The NHSC is actively seeking medical doctors, psychiatrists, licensed mental health counselors, dentists, physicians' assistants, and nurses. All licensed primary care providers, nurses, and mental health providers are eligible to participate in the student loan repayment program; however, if you opt to make a full-time commitment to the NHSC, you must not already be participating in another federal or state program, or have active or pending military duties that would prevent you from fulfilling your NHSC work commitments.
>> Applying for the NHSC Student Loan Repayment Program
To get more information or apply for the NHSC student loan debt relief program, visit the NHSC website.
From the NHSC website, you can find out more about the agency, browse a database of program FAQs, and find open job positions in all 50 states that are eligible for the student loan repayment program.
>> About the National Health Service Corps
Part of the U.S. Department of Health & Human Services, the NHSC currently employs about 7,500 primary care providers at 10,000 sites around the United States. The NHSC expects to employ 11,000 health care professionals by the end of 2011 and 15,000 by the end of 2015.
The student loan repayment program is funded by a nearly 0 million appropriation from the Affordable Care Act.
Through the NHSC student loan repayment program, you can receive up to ,000 toward the balance on your student loans if you successfully complete the program's two-year service requirement. Two-year half-time commitments are also being sought, in exchange for ,000 in student loan debt reduction.
Clinicians willing to make a five-year commitment to the program can receive up to 0,000 in student loan debt relief. Eligible applicants who are willing to commit to six or more years of service are eligible to have the entire balance of all their federal student loans forgiven.
The student loan debt relief offered by the NHSC repayment program applies to federal, state, local, and private student loans.
>> Qualifying for the NHSC Student Loan Repayment Program
In order to qualify for repayment through the NHSC program, your student loans must have been taken out prior to your enrollment in the program. The program will not repay student loans that were not clearly used to pay for education or student loans that were not issued by a government or commercial lender (i.e., personal loans).
College loans that have already been repaid; parent loans, such as those issued under the federal PLUS parent loan program; personal lines of credit; residency relocation loans; and credit card balances are not eligible for repayment under the NHSC student loan debt relief program.
In addition to offering student loan forgiveness to qualified applicants, the program also offers incentives for providers willing to work half-time in underserved areas, including more flexible student loan repayment terms and credits for teaching.
Service is needed in extremely rural areas where primary medical care is otherwise unavailable and in more densely populated but underserved urban areas. Qualifying primary care positions are also available at state and federal correctional institutions, community mental health facilities, Indian Health Service provider sites, hospital-affiliated primary care practices, public health programs, and community care facilities.
The NHSC is actively seeking medical doctors, psychiatrists, licensed mental health counselors, dentists, physicians' assistants, and nurses. All licensed primary care providers, nurses, and mental health providers are eligible to participate in the student loan repayment program; however, if you opt to make a full-time commitment to the NHSC, you must not already be participating in another federal or state program, or have active or pending military duties that would prevent you from fulfilling your NHSC work commitments.
>> Applying for the NHSC Student Loan Repayment Program
To get more information or apply for the NHSC student loan debt relief program, visit the NHSC website.
From the NHSC website, you can find out more about the agency, browse a database of program FAQs, and find open job positions in all 50 states that are eligible for the student loan repayment program.
>> About the National Health Service Corps
Part of the U.S. Department of Health & Human Services, the NHSC currently employs about 7,500 primary care providers at 10,000 sites around the United States. The NHSC expects to employ 11,000 health care professionals by the end of 2011 and 15,000 by the end of 2015.
The student loan repayment program is funded by a nearly 0 million appropriation from the Affordable Care Act.
Saturday, July 14, 2012
5 Things a Call Answering Service Should Avoid Saying
Proper phone answering is a vital task for everyone from CEOs to answering service employees. When you answer your phone, you're representing yourself, your company, and, in the case of virtual receptionist services, potentially several businesses. However, business phone etiquette can be a tricky subject to master. You want to sound approachable, but not amateur; professional, but not stuffy. Where to start?
There are a few phrases that if banished, will instantly make your phone manner a lot more appealing. Here are five sentences that you may have seen receptionists use on T.V. but are better left unsaid in the real world:
1. "I'm not sure" or "I don't know." Callers don't expect you to be omniscient; they realize you may be the receptionist, virtual receptionist, or simply need to do some research to find the answer to their question. However, saying, "I don't know" immediately puts a negative spin on your answer. So, skip to the good stuff and offer to put your caller in touch with someone who does know:
"Good question! Let me see if Kim in our support department is available to discuss that with you."
"That's a great question! The owner would be the best person to speak with about that. Let me put you in touch with him."
2. "She's on the other line at the moment." You don't need to be a remote receptionist to see how this could lead to trouble. Even if you're in the same office and can see the person on the other line, saying that they're on the phone sets up unrealistic expectations. They may expect a return call as soon as she's off the phone, but she could be stepping into a meeting, returning another call, or the call just may last for another hour. You never know! Another potential hitch: Your caller may ask to hold until the other party is available. If you're not sure when she'll be available, or if you work at a live call answering service and need to be available for other calls yourself, things can get tricky.
3. "I can't do that." This may be the most hated phrase in all of customer service-dom. Ever call your cable provider and have the rep reply with "I'm sorry, sir/ma'am, I can't do that"? It's a dead end. Spare your callers from this frustration and try to think of what you can do and offer to do it. Instead of:
Caller: I'd like to re-draft my will. Are you able to help me with that?
Receptionist: "I can't. I'll transfer you to the attorney."
Take out the "I can't" and put the friendliness back into your reply:
Receptionist: "Let me put you in touch with the attorney. He'd be happy to chat with you about making changes to your will. One moment, please."
4. "Just a sec." A tad informal and a tad misleading (what takes only a second?), "Just a sec" shouldn't be in your vocabulary. Go for the more sophisticated "One moment please" and your professionalism won't waver for an instant!
5. "Hold, please." You'll need to place callers on hold from time to time to look up information, try someone's line, or answer a (quick) call. Asking instead of telling will make your caller feel important. Try asking for permission with a "May I place you on hold for a moment?" Your caller will most likely say yes since they feel taken care of, but if they decline, either acquiesce or offer an explanation and an alternative. "I need to look that up in our database, which may take a few minutes. Would it be alright if I gave you a call back when I've found the answer?" Being respectful of your caller's time is always the right thing!
These are best practices, but even if you slip up and use one of these phrases, all is not lost! Remember that being friendly and willing to go above and beyond for your callers will always set the right image for your business and keep your clients coming back!
There are a few phrases that if banished, will instantly make your phone manner a lot more appealing. Here are five sentences that you may have seen receptionists use on T.V. but are better left unsaid in the real world:
1. "I'm not sure" or "I don't know." Callers don't expect you to be omniscient; they realize you may be the receptionist, virtual receptionist, or simply need to do some research to find the answer to their question. However, saying, "I don't know" immediately puts a negative spin on your answer. So, skip to the good stuff and offer to put your caller in touch with someone who does know:
"Good question! Let me see if Kim in our support department is available to discuss that with you."
"That's a great question! The owner would be the best person to speak with about that. Let me put you in touch with him."
2. "She's on the other line at the moment." You don't need to be a remote receptionist to see how this could lead to trouble. Even if you're in the same office and can see the person on the other line, saying that they're on the phone sets up unrealistic expectations. They may expect a return call as soon as she's off the phone, but she could be stepping into a meeting, returning another call, or the call just may last for another hour. You never know! Another potential hitch: Your caller may ask to hold until the other party is available. If you're not sure when she'll be available, or if you work at a live call answering service and need to be available for other calls yourself, things can get tricky.
3. "I can't do that." This may be the most hated phrase in all of customer service-dom. Ever call your cable provider and have the rep reply with "I'm sorry, sir/ma'am, I can't do that"? It's a dead end. Spare your callers from this frustration and try to think of what you can do and offer to do it. Instead of:
Caller: I'd like to re-draft my will. Are you able to help me with that?
Receptionist: "I can't. I'll transfer you to the attorney."
Take out the "I can't" and put the friendliness back into your reply:
Receptionist: "Let me put you in touch with the attorney. He'd be happy to chat with you about making changes to your will. One moment, please."
4. "Just a sec." A tad informal and a tad misleading (what takes only a second?), "Just a sec" shouldn't be in your vocabulary. Go for the more sophisticated "One moment please" and your professionalism won't waver for an instant!
5. "Hold, please." You'll need to place callers on hold from time to time to look up information, try someone's line, or answer a (quick) call. Asking instead of telling will make your caller feel important. Try asking for permission with a "May I place you on hold for a moment?" Your caller will most likely say yes since they feel taken care of, but if they decline, either acquiesce or offer an explanation and an alternative. "I need to look that up in our database, which may take a few minutes. Would it be alright if I gave you a call back when I've found the answer?" Being respectful of your caller's time is always the right thing!
These are best practices, but even if you slip up and use one of these phrases, all is not lost! Remember that being friendly and willing to go above and beyond for your callers will always set the right image for your business and keep your clients coming back!
Friday, July 13, 2012
Lowest Home Equity Loan Figures
The lowest home equity loan has been used by many banks to serve as an easy way for people to have the ability to purchase their own homes without significant problems and disruptions with their financial capabilities. The lowest home equity loan is made to stretch the payments terms as long as decades which would allow people to pay in very light monthly terms. Many of the people undergoing financial terms would then be freed form the troubles coming from the current recession since only a small part of their income would be deducted. In this way the quality of lives of the people involved would not be disrupted due to the payment terms.
The lowest home equity loan has been emulated by thousands of companies and lending institutions who seek to establish a long term but fruitful relationships with their clients. This is because the payments would not serve as hindrances with their lives. Statistics have shown that most people who have availed of the lowest home equity loan were able to finish their payments. The good thing equity is that it would allow early payments that would deduct from the overall interest. This would promote and inspire the borrowers to pay early and avoid being late with their financial responsibilities. It has also given them the support that would allow them to attain the basic necessities including a home for their family and relatives. This is the main reason that the lowest equity loan has flourished through out the years.
The lowest home equity loan has been emulated by thousands of companies and lending institutions who seek to establish a long term but fruitful relationships with their clients. This is because the payments would not serve as hindrances with their lives. Statistics have shown that most people who have availed of the lowest home equity loan were able to finish their payments. The good thing equity is that it would allow early payments that would deduct from the overall interest. This would promote and inspire the borrowers to pay early and avoid being late with their financial responsibilities. It has also given them the support that would allow them to attain the basic necessities including a home for their family and relatives. This is the main reason that the lowest equity loan has flourished through out the years.
Thursday, July 12, 2012
Roland Vs2400cd
The Roland VS2400CD is one of the most affordable mixer and sampling systems available to the any musician today wanting to record and edit all personal tracks.
What the Roland VS2400CD includes are functions such as effect processors which will allow any musician to alter recorded tracks and direct recording of all instruments via the output channels.
Musicians using recording systems are most likely to need dynamic processing control and compression facilities which are all included in the Roland VS2400CD.
The Roland VS2400CD includes fully functional cut and paste facilities which allow easy editing of all play lists which gives the user full management of all tracks.
User functionality has been amended considerably in this latest model to incorporate a fully integrated and easily understandable control main panel display board. If your dream is a mixing desk like the professionals use with the self moving controls, then this is the unit for you.
One major problem most mixing consoles provide the users are a difficult to understand a recording set up functionality. The Roland VS2400CD has been redesigned to take away the difficulty encountered in early models. Up to 16 tracks can be laid down and recorded at any one time.
The Roland VS2400CD operates also in MIDI control. All VGA Monitor devises are fully linkable with mouse equipment inputs as standard. This makes the Roland VS2400CD almost a DAW. Roland VS2400CD interface almost resembles a DAW unit so could fool anyone into thinking the unit cost the price of a high end professional mixing system.
What makes the Roland VS2400CD stand above its competition is that this mixer can record at six different sampling rates and modes. Ranges start from 32 96 KHZ. VS2400CD allows an impressive 10 GB partition at a maximum level but this equals and impressive 40 GB using the installed driver.
The Roland VS2400CD system comes with the option to use additional bolt on equipment which can expand memory capacity and enhance sound recording up to a level only met by only by the high end of the market mixer equipment.
The Roland VS2400CD is competitively priced more at the lower end of the market which allows all musicians to record and mix their music rather than pay the excessive high hourly rates charged by studio time and producers.
If you would like to know more technical information or just purely interested in browsing the amazing Roland VS2400CD mixer studio desk, click on the link below or in the resource box attached to this article.
What the Roland VS2400CD includes are functions such as effect processors which will allow any musician to alter recorded tracks and direct recording of all instruments via the output channels.
Musicians using recording systems are most likely to need dynamic processing control and compression facilities which are all included in the Roland VS2400CD.
The Roland VS2400CD includes fully functional cut and paste facilities which allow easy editing of all play lists which gives the user full management of all tracks.
User functionality has been amended considerably in this latest model to incorporate a fully integrated and easily understandable control main panel display board. If your dream is a mixing desk like the professionals use with the self moving controls, then this is the unit for you.
One major problem most mixing consoles provide the users are a difficult to understand a recording set up functionality. The Roland VS2400CD has been redesigned to take away the difficulty encountered in early models. Up to 16 tracks can be laid down and recorded at any one time.
The Roland VS2400CD operates also in MIDI control. All VGA Monitor devises are fully linkable with mouse equipment inputs as standard. This makes the Roland VS2400CD almost a DAW. Roland VS2400CD interface almost resembles a DAW unit so could fool anyone into thinking the unit cost the price of a high end professional mixing system.
What makes the Roland VS2400CD stand above its competition is that this mixer can record at six different sampling rates and modes. Ranges start from 32 96 KHZ. VS2400CD allows an impressive 10 GB partition at a maximum level but this equals and impressive 40 GB using the installed driver.
The Roland VS2400CD system comes with the option to use additional bolt on equipment which can expand memory capacity and enhance sound recording up to a level only met by only by the high end of the market mixer equipment.
The Roland VS2400CD is competitively priced more at the lower end of the market which allows all musicians to record and mix their music rather than pay the excessive high hourly rates charged by studio time and producers.
If you would like to know more technical information or just purely interested in browsing the amazing Roland VS2400CD mixer studio desk, click on the link below or in the resource box attached to this article.
Tuesday, July 10, 2012
Advantages Of Independent Travel
There is a changing tide in the travel industry. Traditionally massive package holiday companies have block booked villas, hotels, flights, tours and coach transfers from and to the airport. Every detail of ones holiday was catered for by the tour operator. Two weeks in July with bacon and eggs by the pool. The situation is however changing and the trend is towards independent travel.
The independent traveler is on the scene and with the arrival and growth of the internet individuals no longer need accept a tin sardine holiday. The arrival of cheap airlines has helped persons make considerable savings by booking early and travelling in the low season and in the middle of the week. There has been more and more one way tickets purchased. The modern traveler wants more flexibility and will often extend or shorten their trips depending on how much they are enjoying themselves.
The reliance on packaged holidays has caused severe pressures on the infrastructure and environment of holiday hot spots like the Algarve and Majorca, Spain. Their ability to monopolise the accommodation market and dictate pricing has not only created ghost towns that are virtually deserted for most of the year, it has also conned thousands of people with misleading real estate opportunities and created a housing bubble and surplus as well as unnecessarily spoiling miles of coastline.
There are huge benefits in renting holiday villa accommodation with the owners direct over accepting a tin sardine holiday. There are fewer middle men taking their hefty commissions for renting the villa, apartment or hotel room to you. Often these savings are passed on meaning your holiday can be cheaper. You get to choose exactly which property you are renting. Rather than rely on massive companies often poor investigation and selection procedures you can personally speak with the owner of a rental property and satisfy yourself that the arangement is of superior value and high standard.
The idependent traveller has far greater freedom to change their plans and discover spontaneously. The trend towards independent travel has colossal benefits for the environment and local economies. Instead of profits being siphoned off into the already inflated bank accounts of mammoth corporations, small businesses and the local economy get a bigger slice of the pie. The season is extended as independent travelers take advantage of lower prices and less competition in the shoulder and low seasons.
Independent holiday makers travel further afield and to more diverse locations off the beaten path. Instead of large concentrations of people arriving in a single location in July or August the independent traveler will venture elsewhere reducing the environmental footprint and helping the economies of more rural economies.
In the traditional package holiday situation tradition and culture were at best artificial spectacles such as a flamenco night in Tenerife and at worst local people have felt exploited and tourists unwelcome. The mammoth companies keep sending the tourists and in locations such as Majorca where the package still rules restaurant proprietors needn't worry about reputation or providing value for money because tomorrow a new load of pale faced tourists will be arriving.
By travelling independently one has far more freedom. Free to choose, free to move, free to travel onwards, to follow ones intuition, to enjoy and interact with the local people, to see the real culture and to travel in a more environmentally sustainable way that benefits the local people and their economy.
The independent traveler is on the scene and with the arrival and growth of the internet individuals no longer need accept a tin sardine holiday. The arrival of cheap airlines has helped persons make considerable savings by booking early and travelling in the low season and in the middle of the week. There has been more and more one way tickets purchased. The modern traveler wants more flexibility and will often extend or shorten their trips depending on how much they are enjoying themselves.
The reliance on packaged holidays has caused severe pressures on the infrastructure and environment of holiday hot spots like the Algarve and Majorca, Spain. Their ability to monopolise the accommodation market and dictate pricing has not only created ghost towns that are virtually deserted for most of the year, it has also conned thousands of people with misleading real estate opportunities and created a housing bubble and surplus as well as unnecessarily spoiling miles of coastline.
There are huge benefits in renting holiday villa accommodation with the owners direct over accepting a tin sardine holiday. There are fewer middle men taking their hefty commissions for renting the villa, apartment or hotel room to you. Often these savings are passed on meaning your holiday can be cheaper. You get to choose exactly which property you are renting. Rather than rely on massive companies often poor investigation and selection procedures you can personally speak with the owner of a rental property and satisfy yourself that the arangement is of superior value and high standard.
The idependent traveller has far greater freedom to change their plans and discover spontaneously. The trend towards independent travel has colossal benefits for the environment and local economies. Instead of profits being siphoned off into the already inflated bank accounts of mammoth corporations, small businesses and the local economy get a bigger slice of the pie. The season is extended as independent travelers take advantage of lower prices and less competition in the shoulder and low seasons.
Independent holiday makers travel further afield and to more diverse locations off the beaten path. Instead of large concentrations of people arriving in a single location in July or August the independent traveler will venture elsewhere reducing the environmental footprint and helping the economies of more rural economies.
In the traditional package holiday situation tradition and culture were at best artificial spectacles such as a flamenco night in Tenerife and at worst local people have felt exploited and tourists unwelcome. The mammoth companies keep sending the tourists and in locations such as Majorca where the package still rules restaurant proprietors needn't worry about reputation or providing value for money because tomorrow a new load of pale faced tourists will be arriving.
By travelling independently one has far more freedom. Free to choose, free to move, free to travel onwards, to follow ones intuition, to enjoy and interact with the local people, to see the real culture and to travel in a more environmentally sustainable way that benefits the local people and their economy.
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