The platform, which empowers self-employed franchisees with 60% commission and a suite of resources to set up and scale their business, has published its annual results for the 2023 financial year (which ended on October 31st, 2023) and a trading update for the first half of the new year, revealing impressive growth in member acquisition and transaction value
Total transaction value from November 1st, 2022 to October 31st, 2023 rose 31% against the same period in 2021/22. More than 79% of sales were delivered by the leisure arm of the business.
In line with the total transaction value, revenue rose by 31%, delivering £456.6 million over the year.
Impressive total transaction value largely speaks to the returning confidence of travellers (almost half of Brits plan an international break during the reporting period, according to recent ABTA data) and the resumption of flights after route suspensions during the pandemic.
That returning confidence and the demand it inspired, however, was matched aggressively by Travel Counsellors' recruitment and onboarding efforts. 300 new agents joined the platform during the 2023 financial year, bolstered by its acquisition of Holidaysplease.
1,923 franchisees were certified Travel Counsellors by the end of FY23.
Steve Byrne, Travel Counsellors' CEO, noted the impressive performance of the financial year.
"This positive outcome is once again a firm demonstration of the strength of our differentiated strategy and was underpinned by the record number of customers who trusted Travel Counsellors with their leisure and corporate travel needs."
So far this financial year (from November 1st, 2023 to April 30th, 2024), transaction value is up 14%, with 148 new Travel Counsellors recruited. That represents a 23% recruitment growth and pushes the platform to over 2,000 members.
Steve also indicated that total transaction value has continued to balloon. "Our strong momentum has continued into the first six months of the current financial year with strong further double-digit TTV growth.
"As always, I would like to acknowledge the hard work, commitment and care shown across the Travel Counsellors community during the year.
"The dedication and relentless customer focus of our community, which comprises both our own employed support team and our growing network of more than 2,000 Travel Counsellors, in combination with the strengths of our asset-light business model, has enabled the Company to further capitalise on the continued growth in the global travel market."
Recent Travel Counsellors data has uncovered the key motivators behind travellers' dream summer getaways, with the platform also announcing a £10,000 scholarship scheme for new-to-travel franchisees.
