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BUSINESS REFERENCE : IK184 / RightBiz IMPORTERS & MANUFACTURERS OF HIGH QUALITY FURNITURE FOR THE HOME | | | | | | Importers & Manufacturers of High Quality Furniture for the Home Confidentially offered for sale Ref No: IK184 Location: Hertfordshire (Easily & fully re-locatable) Asking price: £700,000 | | | BUSINESS LOCATION: | Undisclosed Hertfordshire UNITED KINGDOM | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Home Accessories & Furniture Shops | | SALE: | Agent Sale | LEASEHOLD: | £700000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
Established in 1993 and under the present ownership since inception this successful and well-established business in Hertfordshire specialises in the manufacture of mattresses and divan sets and high quality solid wood oak furniture for the dining room, hall, bedroom and garden etc. and distributes into the many retail outlets throughout the United Kingdom.
Buying and distributing products direct from major manufacturers, many built under licence, the business offers a portfolio from basic economy furniture to luxury contemporary designs, and has a distinctive trademark on all furniture.
This importing and distributor business has supplied bedroom and oak furniture to traders and retailers for more than 15 years and has developed an excellent reputation, catering for all markets.
Cutting out the middleman gives clients an immediate competitive advantage, selection and exclusivity. The business supplies all products from stock and offer a most efficient and effective service, always with a speedy delivery service, within seven days, in most cases. Delivery can also be direct to the end user, thus speeding up delivery time from retailers as well as saving them additional costs. Many of the products supplied are exclusive products, manufactured under licence, giving the business a substantial advantage within the market.
Lucrative links have been established from the customer base over a lengthy period of time. Goods procurement and supply base development has been fundamental in the success and excellent turnover that has been achieved. The company has an excellent relationship with its suppliers in the Far East.
The business has invested to a suitable degree in technology and has an up to date administration and accounting system and is an excellent opportunity for any investor seeking an opportunity to invest in a successful business that has an in depth knowledge about their products and significant scope for future development and growth, combined with the obvious lifestyle benefits that a successful operation of this nature adds.
Customer Service:
The business considers simply that happy customers come back and on that simple basis has maintained levels of product and service quality intended to best guarantee that happiness. The results of this commitment are evident in the degree of return custom and the choice of this business by new customers over competitors.
Key Strengths:
The business is an organisation where the vendor has, over time, developed and nurtured a reputation capable of ensuring significant continued custom and reducing the need for constant input from the Vendor. This has resulted in customer relations founded on a history of trading satisfaction and not contingent upon the relationship with the vendor.
The business is well established and profitable, with a strong and growing customer base, (currently in excess of 280), retaining a high level of return custom, a great many of whom have done so on a regular basis and for many years.
The company has earned an outstanding reputation for its honesty, service, reliability, casual and open customer experience, excellent quality products and highly knowledgeable, helpful and experienced staff.
Growth and Expansion:
The current market for this business's products is stable and is forecast in the near and longer term for further growth. The business is well positioned to take maximum advantage of this growth as it occurs. It would benefit from further investment if a new owner wished to take it to the next level and ensure ever greater profitability.
Key Opportunities:
This is an outstanding opportunity to build on the existing business levels and customer base of this company. With a strong demand for this business's products, a new owner contributing fresh ideas will have every advantage of building on an excellent platform.
This business maintains an extensive base of satisfied customers, who appreciate this business's superior products and service. There are many excellent avenues for growth, especially with investment in marketing including advertising and as somewhat unexploited internet opportunities, where the business has lacked in its aggression in the past. There could be further avenues for growth through the trade and by drop shifting to internet retailers.
Advertising and Marketing:
The business has used almost no advertising in the past and there are excellent opportunities to increase this and to further invest in the business's website to market the business more aggressively and to significantly increase turnover.
A high proportion of the business's revenue has been due to its excellent reputation for quality and service and strong word of mouth recommendation.
Equipment:
There are three 7.5 ton lorries included in the sale and there is a Sage Accountancy software package used to run the business and control credit ledger etc.
Premises:
This is a fully re-locatable business presently run from a warehouse building on a local farm. These premises will not be available following the sale of the business but the business requires just a small amount of warehouse space to run successfully. This has the advantage not only of being fully re-locatable to any area in the UK, but can also be easily assimilated into an existing operation, thus reducing overhead to a considerable extent.
Employees:
In addition to the owner there are seven full time employees. These consist of three divers, two warehouse personnel and two office personnel.
Business Hours:
Monday – Friday 9.00 – 5.00 (however with a good e-commerce site in operation the ordering could be 24/7.
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 low borrowings, positive cash flow, good gross and net profit and has shown consistent growth over 18 years of trading.
Sales revenue is circa £1,500,000 per annum with a Gross Profit of approximately £435,000 and generates a net profit of circa £240,000. Also included are assets circa £16,000, making this an outstanding investment opportunity with superb growth potential.
Reason for Sale:
The owner now wishes to pursue other opportunities that have presented themselves.
Support and Training:
The current owner will provide all necessary training and all relevant contacts to allow continuity of trading on an ongoing basis if required | | | | | | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | IK184 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
