Carpentry Contractors New Build Homes & Timber Frame Specialist | | Undisclosed Essex | | Carpentry Contractors New Build Homes & Timber Frame Specialist Confidentially offered for sale Ref No: GB067 Location: East Anglia Turnover circa £500,000 Asking price: £250,000 | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 5297
ADVERT IMPRESSIONS : 38,303 TIME(S) | | | | BUSINESS SECTOR: | Services | | TRADE TYPE: | Other | | SALE: | Agent Sale | LEASEHOLD: | £250,000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Business Profile
This first class carpentry business was established by the current owner in 1973. Since that time it has grown to be recognised as the new build homes carpenter of choice in its locale – a busy region in East Anglia, where there is much demand for and building of new homes.
First class relationships exist with the major national and regional housebuilders operating in the area. The company is regularly assessed for performance by these large companies and consistently achieves very good results. The business has been awarded a formal subcontract performance award and has worked on numerous sites where NHBC awards have been attained. Circa 90% of current turnover is generated from within the new build market: the balance is comprised of refurbishment work.
The company is engaged in all of the woodworking and timber aspect of a home. This includes roof timbers, flooring joists, floorboards, architraves and skirting boards. It may additionally include the installation of wooden window frames and complete kitchens.
The company is somewhat unusual in the building industry as, with the exception of two part time office staff, all labour is sub contracted: this includes the second level management and third level supervisory team. This provides for significant flexibility in staffing and ensures that labour costs are kept under strict control and accurately matched to demand.
The business is debt free.
Equipment
The business uses the range of tools necessary for the job. All sub contract labour utilises its own tools.
Customer Service
The highest levels of personal and attentive service sit at the heart of the business’s customer engagement strategy.
Key Strengths
This is a sound business with a superb reputation and excellent relationships with its major customers. It has a particularly strong second and third tier management team, which enables the current owner to be absent for holidays without undue concern. The company is demonstrably ‘easy to do business with’ and all staff display a first class work ethic.
The sub contract business model is ideal for the industry, providing the flexibility needed, yet delivering excellent workmanship. This flexibility provides for very competitive pricing and a very high win rate of new opportunities quoted for.
Health & Safety assessments are provided in house.
Growth and Expansion
The UK is entering a period of high demand for new homes. Estimates are that there will be circa 200,000 new households established every year: current housing stock will not meet the demand. The Government has identified areas where much new housing will be built and East Anglia is a key location.
In addition, it is likely that to speed up the time of construction of a new home, timber frames will increasingly be used. The company has undertaken some work in this aspect of construction and is expanding this side of the business.
Employees
In addition to the current owner, a very experienced General Manager works within the business: he can be relied upon to effectively manage the company in the owner’s absence. He has two supervisors reporting to him. This second level management and third level supervisory team have worked for the business for many years. In addition between forty and fifty sub contract carpenters are utilised as demand dictates.
The owner’s partner and two part time administrative staff work within the business.
Advertising and Marketing
To date most new business has been won through referrals and direct ‘word of mouth’ recommendation. There is a strong network of surveyors moving within the industry, who are inclined to use those sub contractor companies who have served them well in previous jobs.
As the business is very well established in its main area of operation, a formal marketing plan would only be needed for the generation of new contracts ‘out of area’.
Premises
To keep overheads low, the administrative aspects of the business are effectively run from the owner’s home office.
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 company is financially stable, is performing consistently, enjoys high gross and net margins and is very cash generative. The current turnover is circa £500,000 per annum.
Reason for Sale
This is a genuine retirement sale. A stage has been reached where the owner wishes to retire and is offering the business for sale not only as an organically expanding going concern but with further significant growth potential.
Support and Training
A full period of training, handover and familiarisation will be provided to ensure a smooth transition to new ownership.
| | | | | | FOR SALE | | | | | REFERENCE: | GB067 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
