Carol Savage’s comments come after the excursion and experience specialist announced on Monday (15 May) it was opening pre-registration for its second fundraising round to agents, allowing them to invest and own a part of the business before the general public.
“We wanted to give these people the opportunity to own a part of the business, to have a voice and be part of our VIP owner group,” Savage, who founded Not in the Guidebooks in 2018, told TTG. “We want the company to be for agents – by agents.”
Over the next two to three weeks, agents will be able to disclose their interest in investing, with prices starting at £127 for 50 shares. Once registration opens, investors will then commit their contributions via crowdfunding platform Seedrs.
Savage said that by buying a stake in the company, agents will also be able to access promotions, and have exclusive access to information, as well as a discount offering depending on how much they invest.
The objective, Savage continued, is to reach between £400,000 and £500,000. “If we actually hit our target through travel agents then we’re going to stop,” she confirmed.
Since its launch in 2018, Not in the Guidebooks has raised £300,000 from private investors such as E-100 Angels, the private angel investment club of the London Business School, as well as start-up ranking agency Capital Pilots.
Now, the company wants to raise a further £400,000 to expand its team and its product portfolio. “This is just what we need the money for, to be able to speed up what we’re doing,” said Savage.
“We can’t go and create more destinations if we haven’t got the team on the ground to make sure we’re loading the content correctly, that we’ve got the pricing correct and all the information written up.”
Not in the Guidebooks is on the lookout for for new recruits, but Savage said she wouldn’t rush the hiring process, stressing the business would make sure they are the right people for the job and “really understand what it’s like to work in the company and share our values".
The brand hosted its first agent fam earlier this year, to Lapland, and has pledged to steadily increase its service to the trade, with more trips planned for 2024 and aims to recruit a business development manager.
