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BUSINESS REFERENCE : GN005 / RightBiz RE-LOCATABLE-£100,000-THE SCARAB CAR A UNIQUE, FOUR-SEATER, FUN VEHICLE ORIGINALLY DEVELOPED FOR THE HIRE CAR SECTOR | | | | | | The Scarab car a unique, four-seater, fun vehicle originally developed for the hire car sectorConfidentially offered for sale Ref. no: GN005 Location: Re-locatable Asking price: £100,000 | | | BUSINESS LOCATION: | Undisclosed Relocatable UNITED KINGDOM | | BUSINESS SECTOR: | Motor & Transport | | TRADE TYPE: | Car & Van Hire | | SALE: | Agent Sale | FREEHOLD: | £100000 | | | | | | | | | | | BUSINESS DETAILS: | Business profile:
Specifically designed by our Client together with a dedicated team of engineers in the early 1990s, this unique vehicle has been described by some motoring correspondents as a replacement Mini Moke. With a production run in excess of 2,200 to date, and exported in small numbers to over twenty seven different countries worldwide, with the vast majority still in use, this is proven technology with proven demand. This vehicle even has a celebrity following particularly in the Caribbean!
The car is a four-seat, open topped holiday hire car with a moulded GRP body shell fitted around a welded tubular chassis using new Ford Fiesta componentary. The car is fitted with a standard Ford Endura 1.3, 4 cylinder petrol engine used in Fiesta and Escort production which is fully catalyzed and complies with current European emission regulations. Power is transmitted through a Ford 5-speed manual synchromesh gearbox. The vehicle rides on a front independent suspension set up (Ford based) that comprises of an integral double-acting shock absorbers system and on the rear, a semi-independent (trailing arm) set up is utilized. Hydraulic brakes are fitted throughout with discs and callipers to the front and drum brakes to the rear with dual circuit servo-assistance. The rack and pinion steering with 4.5 turns lock-to-lock on 175/70x14 radial tyres with 14x6J wheel rims. The electrical system is standard 12-volt operating industry standard equipment.
This is a fun car, developed for the hire car market and aimed at the warmer and more exotic holiday locations around the world. It has excellent handling capabilities on and off road on all surfaces. The bodywork is easily repairable or replaceable and all electrical systems are intrinsically engineered to allow for internal and external power washing to aid quick rental turnaround - particularly useful for its original target market.
Aside from the hire car sector, this vehicle has a wider range of potential uses the military has in the past expressed interest in adapting the original design for example. As such, this is an excellent opportunity for an investor to secure the Intellectual Property rights and all the necessary components to a car with proven demand - an almost unique investment opportunity to secure all that is required for the manufacture of a low cost vehicle with huge untapped capacity for growth. Demonstrators are to hand and available for test drives when required.
Key strengths:
This vehicle was developed by a management team highly experienced in the automotive industry. The team, which included senior managers in parts and engineering from the sector with a similarly experienced engineer and draughtsman in charge of technical drawings, was headed by our Client, who has been a senior figure within the motor industry for over twenty five years. The team used its excellent industry links all of which are still current within its major geographical target markets and in particular the Caribbean and Mediterranean, to develop a vehicle that would capture the imagination of the marketplace at which it was aimed.
This car, ready to build now with all the necessary drawings, tooling, the master moulds and a build manual available is a proven success within the hire car sector.
A number of accessories have been developed including weather gear, garage covers, bike racks and facilities for carrying surfboards even a chilly bin and trailer for the scuba market.
Key opportunities:
Having had some success in manufacturing and selling the vehicle in over twenty seven countries, there is an excellent opportunity to build on the development of this vehicle. With proven demand for this car, a new owner, contributing fresh ideas and investment in resources will have every advantage of building on an excellent platform utilizing the original Business Plans which are still very much valid.
There is certainly scope to continue to penetrate the car hire sector and by locating the manufacturing plant overseas, in Brazil for example, would create an excellent opportunity to enhance more effective sales of the product into the Caribbean contacts are in place to achieve this and other manufacturing opportunities.
Research and development includes the development of alternative bodies to fit onto the existing chassis giving new models for the future including a flat bed or pick-up version which was developed for the African continent. Due to the vehicle being air portable and with bodywork cheap to repair, the military have also expressed interest in the possibility of using the concept as an on-camp vehicle and indicated that a potential provision of financial support to refine the design for adaptations the MOD require.
Employees:
There are no employees included in the sale of this business.
Premises:
As this sale is limited to the Intellectual Property rights, designs, tooling etc, there are no premises included in the sale of this business.
Financial information:
All financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.
The Asking Price of £100,000 is a fraction of the investment involved in developing the vehicle to production stage and includes the Intellectual Property Rights, designs, all the required Certifications, all tooling and indeed all aspects required to manufacture this vehicle.
It is estimated that an investment of approximately £1 million is required to get the project off the ground. The current Owner estimates that this investment will generate a 300% - 400% return within just a few years.
Reason for sale:
Despite enjoying a healthy level of demand for the vehicle the shareholders in the original business failed to back their initial investment to the required level resulting in business failure. Additionally, a serious illness three years ago suffered by the current Owner resulted in dormancy for a recuperation period. The Owner now feels the time is now right to pass the opportunity on to new Owners to realise its full potential and fully capitalise on the £750,000 of amortised research and development work that has been done to date.
Handover and training:
The current Owner, a highly regarded Consultant within the automotive industry will be on hand to ensure a smooth transfer of the opportunity to new Owners even to the extent of taking an on-going role in its further development, subject to negotiation. | | | | | BUSINESS STATUS: | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | GN005 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
