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CONFIDENTIAL SALE
FOR SALE
02/05/23
512510
IVECO / Rightbiz
Established coach hire service in West Yorkshire area
Our client is a provider of coach-with-driver hire services based in West Yorkshire. It has traded for nearly 50 years continuously and is a well-known and respected brand among private and public sector decision makers as well as consumers and charities in the area.
Services and fleet
Our client primarily concentrates on daytime work and the provision of services to companies, the education sector and day-trippers.
They do so from the following fleet of coaches:
ü 19-seat coach
ü 22-seat coach
ü 33-seat coach
ü 53-seat coach
ü 57-seat coach
ü 59-seat coach
ü 72-seat coach
All vehicles are fully owned in title by the company. All coaches fitted with 3-point seatbelts and air conditioning/climate control has been fitted to all coaches. All vehicles comply with the London Low Emission Zone (LEZ). The fleet has an estimated worth of £450,000 and, if bought as new, up to £1,500,000.
Staffing and decision-making
The sole shareholding director has individual responsibility for the strategic direction of the business and the financial decisions it makes and contracts it enters into. In addition to the director, our client’s employees are:
ü Office manager: Plans driver allocation 3-4 days ahead, answers phone and emails, prepares quotes, payroll
ü Full-time mechanic: responsible for proactive and preventative fleet maintenance
ü Full-time driver x 3
ü Part-time drivers: nearly all of whom are on PAYE but who can work as little as 2 hours per week
The shareholding director involves staff in purchases and recruitment decisions to a large extent. The office manager has a company credit card with a £5,000 limit on which they can make discretionary purchases. When demand is high, our client has access to a number of contractor drivers (operating within IR35 rules) that they can call on to fulfil driving jobs.
Our client’s business can function without the presence of the shareholding director for long continuous periods.
Freehold premises
Our client’s premises are on a main road. This is a joint commercial and residential property with the upper floor housing a 4-bedroom flat which is currently empty but is in a fit condition to rent out.
The commercial part of the building contains a 15m garage, inspection pit and two 8m undercover bays. The property is owned by the shareholding director and leased to the company. Our client would be willing to entertain offers for the property as well as for the business itself. There is a large parking area that wraps around the building that has room for 15 vehicles.
The current owner is willing the sell the land in a separate transaction to the business.
Opportunity
Our client has a great business with huge potential that needs to focus, drive and energy of a new owner to maximise value. How could you do that? Firstly, the business currently operates primarily within weekday office hours, with limited night and weekend services. By expanding operating hours, a new owner can significantly increase the utilization of the company's vehicles and boost revenue.
Secondly, the company operates on an ad-hoc basis with clients and does not actively pursue tenders from private or public sector clients. By engaging in tender processes and negotiating contracts, a new owner can secure locked-in forward revenues and enhance the company's stability. Lastly, the business has limited marketing efforts, relying solely on its website and not featuring in the Google Local Pack. By investing in marketing and promotion, a new owner can raise the company's profile and attract more consumer and corporate clients.
In summary, this business presents a buyer with a solid foundation and numerous opportunities for growth and expansion. By addressing the current limitations in operating hours, client engagement, and marketing, a new owner can take the company to new heights and create significant value. To discuss this opportunity further and arrange a meeting with the owners, please call 0800 634 9679 or email [email protected].
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Do not share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
Get Solicitor
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