I'm based in the UK, and run a very small tour business in my city. When I saw "I run a very small tour business", I mean I have a website and a semi-popular Facebook page, and do about 4-5 tours a month for private groups. I have a proper, full-time job: this is merely a project.
The "business" isn't officially set up, and my "paper work" amounts to my inbox. Everything is cash-in-hand. As I say, it's a project that has taught me a lot, but little more.
Because of the nature of the business, almost all the money I make is profit. Word of mouth and some fantastic TripAdvisor feedback generates about 90% of my business, and really the only investment on my part is an annual membership to Wix.com and the odd sponsored Facebook post. I run the tours myself, so I suppose my time and "expertise"(ha) are what people are paying for. Last month, I made over £1,000 doing these tours, so there is the potential for it to be a nice little earner.
Due to other commitments, I am looking to move on from it. I believe there is still a lot of potential yet to be explored (the concept is sort of novel, and involves alcohol consumption as part of the tour: I'm sure it'd be a hit in other cities), but my passion for it is fading and other projects are quickly building traction. As such, I would like to sell it, and it's here that I need your help. The business isn't an official entity, so any transaction can't really be carried out in the traditional (right?) way. Likewise, the monthly earnings of the business are so sporadic (April was a great month because I put lots of effort into it. March was a very poor month because I was focusing on other things) that it's very difficult to provide a potential buyer with any forecasting figures.
Ideally, I want the selling of this business to mirror the nature of the business itself – I'm not looking for lots of money, but if it could be a good-natured, cash-in-hand transaction (where I provide passwords, a list of my regulars, training for the tour-guide, all of my contacts, all of the great tripadvisor reviews), I'd be very happy. Of course, things are never that simple.
Is my "ideal scenario" even possible? Does it have to be an official entity before I can sell it?
Any advice/thoughts would be hugely appreciated, particularly from those who have been in similar shoes.