Well Established Minibus And Coach Hire Business | | Undisclosed Hertfordshire | | Well Established Minibus and Coach Hire Business Ref.GP170 Location Hertfordshire Asking Price £1,950,000 | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 37410
ADVERT IMPRESSIONS : 36,965 TIME(S) | | | | BUSINESS SECTOR: | Motor & Transport | | TRADE TYPE: | Coach & Bus & Taxi Hire | | SALE: | Agent Sale | FREEHOLD: | £1,950,000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Business profile:
This highly profitable business was originally established by the vendor in 1996 as an owner operated business. Since then the company has grown to become the largest Midi-Coach company in Hertfordshire, with 25 vehicles, ranging from 16 seats, 23, 29, 33, 25, 40 and 51 seat coaches which compliment the fleet. The business re-located to the present site in 2004. Close to national road network, and in a great location for major growing population centres, the site offers space for the current fleet, workshop and office areas, with room for expansion.
The business has developed a thriving client base of over 100 regular repeat customers. Originally focused on local private schools, the business now has the largest market share in this high value and busy contract sector. From this start, many corporate accounts have been won, along with local authority business. With a major marketing presence, and the flexibility to offer a range of bus sizes that other firms cannot compete with, the business also enjoys daily bookings from local businesses, tour operators and private residents covering a huge catchment area for a wide range of trips. These include airport transfers, corporate events, public sporting events, excursions to attractions and exhibitions, theatre bookings into London, and private function bookings.
The business has grown through recommendation, referral and a well-though out strategy to become one of the largest operators in the region. As such the business has been short listed for two recognised business awards.
The business enjoys being fully booked for the current staff and vehicle levels, with excellent opportunities for future growth in a number of directions.
Equipment:
Alongside the fleet of vehicles, the company operates a fully automated customer relationship management system. It has also invested in a well laid out and easily found website, offering online booking. There is an internal telephone system which assures that no enquiry goes un answered, and the company records and accounts is fully computerised and integrated.
Customer Service:
The business prides itself on the highest quality customer service at competitive prices, not marketed as the cheapest, rather as the best. Each vehicle has company livery, and all the drivers are always fully uniformed to instil pride in the team, and confidence of a professional service to all customers and clients.
The company focuses on answering enquires in a very timely manner, and with the range of vehicles to hand, they can meet all demands with a very flexible service.
Vehicles are cleaned and inspected daily, and feedback is requested continually. The stream of feedback sent in allows the management can continue to surpass expectations, and answer any key issues to retain business once it has been won.
Key Strengths:
The range of vehicles that the company can offer represents a service that has no direct competition offering the full compliment. The business is located next to a major town north of London, and close enough to the Capital and other growing population centres to have a huge potential market to serve.
The marketing and branded has been established for over 10 years, which means the company is at the forefront of people’s minds when thinking of a hire company in the region. The marketing is focused, and the online presence and search engine optimisation drive even more customers away from the competitors and to this business in particular.
Growth and Expansion Opportunities:
The business is primed ready for the next stage in development. With marketing further a field, the business can serve a huge area. They have successfully won lots of regular school business, and some local authority business such as NHS and other council services. This can be expanded with a direct marketing push.
The business has offered limited international excursions, which can be expanded on. The vendor feels that with the right business mix, they could cross-over successfully into the regular time-tabled bus / coach business to compete on all fronts and cover a much larger playing field.
The current operations are booked to capacity, however with further investment in marketing and promotion, the site can handle further additions to the fleet and workforce.
Premises:
The business is operated from a ½ acre freehold site in a light industrial park. On-site is parking for all vehicles, 2 Portacabins for office and staff space, with separate toilet facilities. There is a brick workshop area, which houses all tooling and can easily be extended.
The Vendor purchased the freehold for approximately £620,000 in 2004. Currently the business rents the space from the Vendor for around £35,000 per annum, with business rates payable at around £16,000. The Vendor is open to negotiations to leasing the premises to a new owner, or selling the freehold with the business. The value is to be determined independently at point of sale.
Business Hours:
Monday – Friday: Operations are 6:00 am – 12:00 midnight.
All calls are answered in person 24 hours per day by designated person on call.
Security:
There are high security fences covering the perimeter of the site. With CCTV across the industrial site, and high profile security of a small oil depot next to the business, the company’s operations are fully secure at all times.
Advertising and Marketing:
The business was originally grown through direct marketing and promotion efforts of the vendor. Since then there has been investment in print and on-line advertising.
With a constant focus on customer feedback, and direct response, the client database has grown. As such, there is continuous electronic and direct marketing to the client database. The company has also invested in advertising with directories such as Yellow Pages and local press. Major investment has been made in Search Engine Optimisation and Google ‘Adwords’ to assure they are at the top of the list when looking for minibus / coach hire services, and competing on a national level.
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.
Employees:
The vendor is currently employed full-time as Managing Director of the business. In support the business employs a General Manager who has been with the business for 4 years, and can handle daily operations and staff management independently when required. Alongside the office employs an Office Manager, and an Office Assistant who between them handle accounts, enquires and administration. The workshop employs a full-time Maintenance Manager, who acts as Assistant General Manager when needed.
Over the past 14 years, the business has built a team of 22 drivers. Most have been with the business for a number of years. They have proved to be reliable, conscientious and a real asset to the business. The vendor prides himself on paying the top salaries in the industry, and offering an approach that breeds loyalty and best service practices.
Support and Training:
The Vendor will assist in ensuring the business is transferred to new ownership in a successful manner, and will consider a long term contract to consult with the business in an on-going capacity.
Reason for Sale:
After 15 successful years growing the company from scratch to the present trading levels, the current owner believes the business can best be taken to the next level by someone with fresh energy levels and ideas for new investment or business cross-over opportunities.
| | | | | | FOR SALE | | | | | REFERENCE: | GP170 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
