Broker Of Ex Formula Cars And Parts | | Undisclosed Relocatable | | Broker of Ex-Formula 1 Cars and Parts Ref.AM141 Location Fully Relocatable Asking Price £375,000 | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 54494
ADVERT IMPRESSIONS : 84,976 TIME(S) | | | | BUSINESS SECTOR: | Motor & Transport | | TRADE TYPE: | Car Sales | | SALE: | Agent Sale | ASKING PRICE: | £375,000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
Established in 1989, this business specialises in the marketing and sales of Ex Formula 1 and Formula 3000 vehicles. A single Formula 1 car will be advertised for anything up to £399,000.A list of clients including film companies, business owners, entrepreneurs, executives and bankers from around the world have become a lucrative network and have been the bedrock of the business for the last twenty years.
The business has developed long lasting relationships with several Formula 1 teams over the years and they are happy to release their stock of vehicles to the business. It is worth noting that a large percentage of Formula 1 vehicles are actually destroyed by the manufacturers to protect the technology. From time to time over the years, the business has negotiated to buy several vehicles and parts simultaneously from a race team and these deals have proven to be particularly profitable. Many deals are negotiated on a sale or return basis. A number of vehicles have been ‘bought back’ by the business from past clients and again this has delivered healthy margins.
In addition to vehicle sales, the business also supplies parts. Engines alone can be marketed at anything up to £60,000. Clothing and accessories are sold via online shop fronts such as eBay. The business also rents out vehicles for corporate functions at circa £1,000 per day.
The business uses a private race track in France that provides both another hire revenue stream and a fantastic method of marketing to potential clients.
Although the owner of the business has a very impressive phone book listing several high profile clients, new customers continue to source Formula One vehicles and the company’s website has been optimised and is currently very easy to find via major search engines.
Equipment:
The sale includes circa £50,000 of parts, accessories and clothing.
The stock includes;
• Gearbox parts and components
• Brake and suspension components
• Pit equipment
• Race Kit accessories
• Clutches
• Electronic control unit
• Exhaust systems
• Clothing
Customer Service:
The business deals with a number of extremely successful customers worldwide. Their satisfaction is obviously of primary concern to the business and anything that is requested by a client will be delivered. It has been known for the owner of the business to take a same day transatlantic flight to deliver a spare part to North America and for a vehicle to be exported on a same day basis.
The level of profit that the business is able to achieve means that the business is able to offer supreme levels of service to people who to be honest would expect to have the red carpet rolled out for them.
Key Strengths:
Not only is this business more or less unique, but it has been around for some twenty years. In that time, the business has established an international reputation within the sport of Formula 1 and has been the obvious and in many cases only place to go to purchase Formula 1 vehicles and components.
Growth and Expansion:
The owner has not been able to devote his full attention to the business and at present he is only spending a few hours, in some cases as little as one hour per week. Clearly new management who are able to spend more time focused on the business will help to boost sales substantially.
Although many deals are done on a sale or return basis, there is an argument for the business to acquire new stock, as in general the value of most ex-F1 vehicles will only increase over time.
The business could also increase the use of circuits such as the one in France to provide marketing or hire opportunities.
Employees:
The business does not employ any staff.
Advertising and Marketing:
The business does not advertise. The company’s website is naturally very easy to find via search engines and suppliers and customers tend to know the business by reputation.
Premises:
There is no property connected to this sale.
Business Hours:
There are no set hours.
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.
Turnover is circa £500, 000, gross profit is circa £250,000 and adjusted net profit is circa £220,000.
Reason for Sale:
The owner has a hectic lifestyle that takes in a number of other interests. He has decided that after twenty years he can no longer devote sufficient time to the business.
Support and Training:
All necessary training, all contacts and a full handover are available to ensure continuity of trading.
| | | | | | FOR SALE | | | | | REFERENCE: | AM141 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
