Smart50 rank: 40
Revenue: $115.30 million
Growth: 30.23%
Founders: Darrell Wade, 47; Geoff Manchester, 47
Based: Victoria
Employees: 716
Industry: Other
Website: www.intrepidtravel.com
Winner:
NAB SmartCompany Award
Backpacking is usually something people do when they are trying to avoid work, but for Darrell Wade (left of picture) and Geoff Manchester it provided the foundation for a highly successful business now into its ninth year.
Intrepid Travel seeks to fill the niche between backpacking and organised tour groups by providing a grass-roots based travel experience for small groups of adventure-minded travellers.
After battling through some early tough times thanks to limited capital, and more recently because of the SARS crisis, Intrepid is now on firm footing with revenue growth of 30.23% between 2006-07 to 2007-08 culminating in earnings of just over $115 million last financial year, compared with $87 million in 2006-07.
Partnerships with the likes of Virgin in Britain and Flight Centre in Australia - they are working with Intrepid in a retail joint venture - have helped the company reach more customers interested in its adventure travel products.
Overseas sales are also an important part of the business, with Britain, Europe, US, Canada and New Zealand the biggest markets, and efforts like the firm's joint venture in Vietnam could present significant opportunities for further growth.
The company's founders say that if all goes to plan, the culmination of continued growth should see Intrepid Travel reach the $250 million revenue mark, leading to a stock exchange float.
