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BUSINESS REFERENCE : GD058 / RightBiz PLUMBING SUPPLIES/GAS BOILERS/CENTRAL HEATING SUPPLY & INSTALLATION & BATHROOM APPLIANCES | | | | | | Plumbing Supplies/Gas Boilers/Central Heating Supply & Installation & Bathroom Appliances Confidentially offered for sale Ref No: GD058 Location: Hertfordshire Asking Price: £760,000 | | | BUSINESS LOCATION: | Undisclosed Hertfordshire UNITED KINGDOM | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Home Accessories & Furniture Shops | | SALE: | Agent Sale | FREEHOLD: | £760,000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
Having originally served his time as a Heating and Ventilation Apprentice for the major gas supplier in the UK, the owners established this business in 1970, following which this business has grown steadily, generating turnover of over £257,000 for the most recent year for which figures are available. They are Corgi registered and fully qualified sub contracted staff carries out all installations.
Within the domestic marketplace, this business has carried out more than its fair share of bathroom and shower installations and the installation, service and maintenance of boilers and full central heating systems. The business, which still has much growth potential, currently supplies parts and accessories to the domestic and trade sectors for all plumbing, gas heating, bathrooms and showers and will also install into the domestic market. There is a good potential for the expansion into the commercial sector and into the building and development sector of the marketplace. The commercial freehold is currently somewhat under utilised and has great scope for increased business capacity, while the freehold accommodation with the property can be used as the home for a new owner or used as a revenue stream, by continuing the letting of this desirable four-bedroom property.
The cornerstone to the success of this business is its honesty and integrity; this business prides itself on its quality of work. All of the staff used by this business are highly trained, vastly experienced with a wealth of product knowledge, which ensures that jobs are consistently completed to the highest standards and with the minimum of disruption to the customer. As a result a large proportion of work for this business arises from excellent referrals and recommendations from satisfied Clients, testimony to the excellent reputation this business has established throughout the years of its operation for providing a very high level of customer service at a very competitive price.
The company offers a wide range of products to meet all heating and plumbing criteria. They offer products to satisfy all budgets and products include plumbing and heating systems, boilers, cylinders, radiators, controls and showers, all by leading manufacturers.
Turnover has continued to grow at a healthy rate over the previous years and market conditions continue to flourish in this sector of the industry. The business is able to supply to the domestic and trade markets and install to the domestic market.
The company has a superb location with a large attractive showroom. Customers can choose from a wide display of products on show, many of which are kept in stock allowing for a speedy and efficient supply for the customer, which enhances the company’s excellent service reputation. The showroom is located on a busy main road, on a main bus route with a constant flow of vehicular traffic passing the door. It is bright and well presented with attractive displays on view and is in the middle of a densely populated area.
Customer Service:
This business maintains an extensive and loyal base of satisfied clientele who appreciate prompt, friendly service, reliability, convenient hours and reasonable, yet competitive prices.
Unlike many competitors the business will not compromise on service to customers, or the quality of products on offer, there is little doubt that this has encouraged and sustained client confidence and loyalty. The business offers high quality customer care from friendly staff, cultivating a warm and welcoming atmosphere.
Key Strengths:
This business is founded on the hard work and dedication that the current owners have put in over the years to develop the company to its current size. Every project however large or small receives the same attention to detail. The business offers experience, value, quality parts and materials at very competitive rates and maintains a large and loyal customer base. It has an excellent reputation for honesty and integrity. This business does all that is necessary to ensure a satisfied Client, often being called upon to work in demanding environments and on very tight schedules. Its extremely capable, highly trained and qualified sub contractors have been working with the same customers of this organisation for many years.
The company has very little competition in the local area and has a huge database of clients, many of which have passed on, by word of mouth, recommendations to potential new clients.
Growth and Expansion:
This is an outstanding opportunity to build on the existing products, services and customer base of this business. The foundations for the next period of growth are already in place, and with a new owner contributing fresh ideas, energy and enthusiasm the business will reap the benefits in terms of turnover and profit.
The current owner suggests that the strong demand for the services offered will continue and new avenues of business can be obtained, including the increase of the contract maintenance side of the business and expanding into the new build and development sector of the marketplace. The other area of industry that will benefit is the fitting of solar heating. The government have announced that financial help and grants will be forthcoming in the near future to help reduce our carbon footprint. This can only lead to an increase in solar heating systems in the household.
Key Opportunities:
New fashion trends, new ideas and a buoyant market are all suggestive of good expansion prospects. This company has already established a successful business via a combination of its excellent reputation, first class showroom facility, retail and trade counter and full installation service.
Advertising and Marketing:
There are excellent opportunities to expand the business's marketing and capitalise on its excellent standing. Most new business is generated from strong word of mouth recommendation from existing satisfied client referrals, bearing strong testimony to the business's excellent reputation. The company advertises locally and has an un-tapped client base who would provide an ideal base for selling maintenance contracts through some form of targeted marketing combined with more assertive methods of advertising to expose the business to even greater markets. This could include advertising in trade magazines and the local press or by using direct mail, leaflets or brochures.
The company does not have a web presence and there is no doubt that turnover and profits could increase exponentially using this additional medium.
Premises:
This is a tremendous opportunity to purchase not only a business but freehold premises consisting of a showroom situated on this busy main road with entrance alongside leading to a large yard with further showroom and trading area to the rear. The front showroom is used purely as a showroom while the premises at the rear comprise of showroom with counter to the rear, office, w/c and store area with further storage provided in a covered storage area located to the front side of the premises.
In between the rear trading premises and the accommodation is a large yard used for personal and customer parking and for loading/unloading purposes. There is also additional parking on the front forecourt of this desirable property.
The accommodation is a fully self contained two storey house with kitchen / diner, living room and conservatory on the ground floor with stairs leading to the first floor with three double bedrooms, (two of which have their own wash hand basins), a single bedroom and bathroom. There are stairs leading to a loft conversion that is not currently used but would make a large double bedroom / studio / office, as desired.
This is situated on a busy main road with lots of passing foot and vehicular traffic, and benefits from being on a main bus route.
Business Hours:
Monday to Friday 8.00 – 5.00
Saturday 9.00 – 1.00
Financial Information:
The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.
The business is financially stable with no borrowings, low overheads and positive cash flow, enjoys a strong order book, good gross and net profit and has shown consistent growth over the years of trading.
Sales revenue is circa £257,000 per annum with a gross profit of circa £48,000 and a net profit of circa £37,000 with a valuable and desirable freehold property included. Our clients feel that with a more energetic and focussed approach combined with commitment to the opportunities illustrated, the business could dramatically increase its revenues.
Reason for Sale:
This is a genuine retirement sale as both owners have reached the age when they wish to retire and pass this thriving business on to younger hands that can drive this business forward to the next level of growth.
Support and Training:
The owners are prepared to offer full support and training to the new owner and to pass over all contacts and contracts etc. They are also prepared to offer their services on a part time basis for a period of time after the successful sale of this business | | | | | BUSINESS STATUS: | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | GD058 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
