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BUSINESS REFERENCE : AO030 / RightBiz AO030-HERTFORDSHIRE-£ 1,200,000-HIGH END CORPORATE MARQUEE HIRE | | | | | | High End Corporate Marquee Hire Ref.AO030 Location Hertfordshire Asking Price £ 1,200,000 Confidentially offered for sale | | | BUSINESS LOCATION: | Undisclosed Hertfordshire UNITED KINGDOM | | BUSINESS SECTOR: | Miscellaneous | | TRADE TYPE: | Other | | SALE: | Agent Sale | LEASEHOLD: | £1200000 | | | | | | | | | | | BUSINESS DETAILS: | Business profile:
Established four years ago this business has shown truly impressive growth and has positioned itself firmly at the higher end of the corporate premium service, now being the supplier of choice of over one hundred corporate and event managers. They also cater to the more discerning and affluent end of those requiring marquee hire for private parties and functions, specialising in weddings etc.
They have achieved this presence and reputation by supplying only high quality equipment that is constantly checked and replaced when necessary, combined with a speedy, reliable and trustworthy response to all orders and client needs. They are able to supply marquees to any length with over 2 Kms of marquees that are all fully interconnectable, as well as supplying lighting, staging, linings, floors, dance floors and furniture, again all of high quality. It is the exacting standards they work to that sets them so far apart from many other suppliers and has enabled them to achieve the position they have in such a short space of time.
Marquees provide the kind of imaginative flexibility rarely found in other venues. The marquee can be configured in any length or shape, or multiple marquees can be setup in any arrangement desired, for example for weddings there could be one setting for the ceremony, and another for the reception, or one long marquee used for all elements of the ceremony.
A marquee means more choice: in the grounds of an historic home or garden, as an extension to a church or hotel, or in a home or back garden - where dancing can be until dawn, or at least until the champagne runs out!
Staging any important corporate event can be a worry, but this company can provide an instant temporary venue for exhibitions, showrooms, function suites and corporate parties. They have the experience to help plan unique and important events and make them a success.
All of the high quality equipment is included and there are several on going orders in the forward order book, making this not only highly lucrative and profitable but also a complete turnkey operation for a new owner to step straight into.
Customer Service:
The business believes it is customer service, and in particular after sales service, that really sets it apart and works very hard to promote this. It offers the best service and support with highly trained sales and operations staff who provide a truly dedicated in house service that delivers and satisfies the needs of the customers each and every time. It prides itself on “going the extra mile” for its customers and this is reflected in the very high customer retention levels, repeat orders and word of mouth referrals the business enjoys.
Key Strengths:
A primary strength of this business is its own very high quality equipment that because it is all interconnectable means it can be configured to almost any size or shape. This combined with the quality and efficiency of an installation service of high repute, gives this business its competitive advantage.
Built on solid foundations this business has an excellent reputation for friendly and helpful service and excellent, high quality equipment and erection. The current owners have achieved this by hard work and have an established, yet diverse, corporate customer base, which is growing year on year through word of mouth recommendations and ongoing referrals. Not surprisingly this business can claim high levels of customer satisfaction.
Growth and Expansion:
The owners understand that the business is recognised for its quality of product, brand and choice and has been able to establish itself and capture a significant market share in a highly competitive environment. More assertive marketing and brand investment, could acquire an even larger slice of the market to build this excellent business into an even bigger cash earner.
The current market for this business’s service is stable and is forecast in the longer term for significant growth, as proved currently by levels of high demand. The business is well positioned to take maximum advantage of this growth as it occurs. Furthermore because of the market sector served and the affluence of the area in which they are located, this business is less likely than most to suffer from any adverse financial market conditions.
This business offers an excellent opportunity for the successful buyer who is seeking a well-established business with the capacity to increase turnover, possibly expanding into other satellite locations and developing new regional markets.
Key Opportunities:
There is a great opportunity to develop this business which is still very much in the growth phase, having reached nowhere near its true potential yet. Because of its location and a strong demand for its services, combined with a capacity to increase turnover, a new owner contributing fresh ideas, motivation and enthusiasm in the business, is well positioned to develop this growth opportunity, building on an already established and successful platform.
Although this business projects a very professional image to its customers, there is room for improvement particularly in relation to the management of the company, where the introduction of a greater focus on sales and marketing would improve the business’ turnover and overall profitability. Opportunities exist by increasing the area served and in developing new clients, of which there are a large number who have still to be contacted by this business, areas of business that is currently not exploited by the existing owners.
Premises:
The business is fully re-locatable however there are premises available with the business if required. They are leased on a 6 month rolling lease and consist of a warehouse set in 0.6 acre of rural land with mezzanine offices above and plenty of parking to take Cars, Lorries and Vans etc.
Rent is £28,000 per annum with approximately £6,000 per annum payable for business rates.
Advertising and Marketing:
The business has used very little advertising in the past, so there are excellent opportunities to increase this activity, develop the brand perhaps through media sales and marketing the business more aggressively to significantly increase turnover. There is currently a website but more work in this area would also undoubtedly increase turnover and subsequent profits.
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 is approximately 2 Kms of top quality Marquees, all interconnectable, with lighting, staging, linings, flooring, dance floors and furniture. In addition to this there are three lorries, a van and a forklift truck, all fully owned and maintained.
There is also a stock control software system and Sage for accounting purposes.
Financial profile:
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.
Sales revenue is circa £800,000 per annum with gross profits circa £456,000 and adjusted net profits of circa £154,000 per annum and the vendor feels that with a greater focus on sales and marketing combined with existing growth patterns the business could dramatically increase its revenues. In addition there is a good forward book in advance orders constantly in hand.
The business is financially stable with no borrowings, low overheads and positive cash flow, enjoys extremely strong customer traffic and has shown consistent growth over 4.5 years of trading.
Employees:
In addition to the two full time owners there is a core of full time staff comprising; one sales staff, one accounts staff, two on site foremen and two warehouse staff, ably assisted by a pool of casual workers available on an as and when basis.
Support and Training:
The current owners will provide all necessary training and all relevant contacts to allow continuity of trading.
Reason for Sale:
The business is for sale as a result of the vendors intention to move abroad and live where they have other opportunities and partial retirement. | | | | | | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | AO030 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
