Merchant services

In 1998 Rob Cecconi combined his love of sport and travel to create Sportsnet Holidays, a niche travel business running tours to sporting events around the world.

 When he first started out Rob didn’t have a defined strategy for growth nor did he have an exit strategy.

Rob chose the Commonwealth Bank to help him grow, with everything from business finance, to merchant facilities, and business cards.

Working closely with a Local Business Banker helped Rob to understand that you should “begin with the end in mind. Really understand where you wish to take your business journey — what it is you’re trying to achieve. Then build the company from there.”

After seven years of double-digit growth, he sold his business to a larger competitor. In the process, he turned his initial $30,000 investment into a significant sum.

Then in March 2007, he got a surprising call. The new owners had gone into administration. Would he be interested in buying Sportsnet back?

So he immediately called his accountant. “We decided to put in an offer at 9 o’clock the next morning. Obviously we bought at a very, very favourable price.”

Now his business is entering a new growth phase, broadening the scope of their existing tours and starting a new corporate and leisure travel division called 1788 Travel. “It’s a very exciting period, because we believe that we can grow to three times the size”, he says.