TDC launches bilingual succession training for travel agency owners

Transat Distribution Canada (TDC) has introduced a bilingual training program for franchise and affiliate agency owners on business succession planning.

The online program includes 3.5 hours of training for sellers and 5 hours for buyers. 

TDC developed the course with Transat's legal, financial and human resources teams, incorporating input from agency owners through the TDC Lab think-tank.

"Selling or acquiring a travel agency is more than just a transaction; it's a deeply personal and strategic decision," said Dianne Jackson, director of franchise and affiliate members at TDC. "

It's not just about logistics, but also about legacy. We've developed a program that reflects the real challenges and opportunities of succession, with practical advice and an understanding of the emotional aspect of this type of transaction (both selling and acquiring), to help owners move forward with clarity and confidence."

Jackson noted the training is not a substitute for personalized advice from lawyers or tax specialists, but aims to present essential elements for consideration in the succession process.

The program includes separate components for sellers and buyers. 

The seller component covers financial, legal and human resources preparation, along with the emotional aspects of the transaction. 

The buyer component is designed for prospective and recent owners.

Both components address contracts, compliance, budgeting, financial management, building and managing teams, marketing and growth strategies, and managing the personal impact of ownership transitions.

"This initiative reinforces TDC's commitment to giving its network of franchisees and affiliates the tools they need to thrive, not only today, but also in the years to come," Jackson said.

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