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BUSINESS REFERENCE : GK128 / RightBiz HERTFORDSHIRE - £ 795,000 - ELECTRICAL CONTRACTORS | | | | | | Electrical Contractors Ref.GK128 Location Hertfordshire Asking Price £ 795,000. | | | BUSINESS LOCATION: | Undisclosed Relocatable UNITED KINGDOM | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Electrical Retailers | | SALE: | Agent Sale | FREEHOLD: | £795000 | | | | | | | | | | | BUSINESS DETAILS: | Business profile:
This superb electrical contracting company was established by the current owner fifteen years ago. Since that time it has developed to be recognised as the electricians of choice in its locale, a busy part of Hertfordshire, adjacent to major towns and with close proximity to London.The business has experience in almost every aspect of electrical engineering, working extensively with main contractors undertaking works that vary from minor, small call-out reactive maintenance and repairs to complete design and installation projects for major civil engineering and building contractors. The scope of works includes electrical design and installations, electrical testing, reactive maintenance and call-outs, inspection and electrical surveying and the provision of technical reports. Whilst the business's expertise lies mainly with the commercial and industrial sectors it also undertakes some smaller residential projects. The analysis of current turnover is as follows:• Contracting – 75%• Testing – 20%• Domestic – 5%Apart from three, part time administrative people, all staff are fully trained, very experienced, highly skilled and qualified electricians or electrical trainees, some having been with the business for a number of years. A number of sub contractors are also regularly utilised, when demand dictates. All staff are helpful and friendly whilst maintaining a professional attitude and standard at all times. This business's commitment to quality and safety is paramount. All work is carried out to the highest standards and all materials and accessories are quality approved and comply with the relevant BS codes. All work is carried out in strict accordance with the IEE Regulations and is certificated in compliance with NICEIC (National Inspection Council for Electrical Installation Contracting) guidelines, guaranteeing a high level of workmanship.With turnover of circa £900,000 per annum and a sound forward order book, this business represents a significant opportunity to acquire an extremely well run company, with excellent freehold premises
EquipmentThe company owns a fleet of ten signwritten vans; no outstanding finance exists.Customer ServiceThe highest levels of personal service sit at the heart of the business’s client engagement strategy. Much new business is won from referrals and direct ‘word of mouth’ recommendation.
Key Strengths: Having fifteen years of experience in the industry the business has established an enviable reputation for competitive pricing and high levels of client service. The business has an excellent, loyal team of highly skilled staff with a very strong management team. Much effort is constantly expended to maintain the strength of client relationships. This is directly and positively reflected in the amount of new business won from existing clients.The company benefits from having a strong client base from within both the private and public sectors. This introduces significant resilience since each sector will operate within different economic cycles. Furthermore, the company undertakes much work within the schools and higher education market place: this is a key focus for Government and much future investment, and therefore additional business, can be expected.The company is renowned for being easy to do business with and displays a noticeable ‘we care’ attitude.
Growth and Expansion:A new owner with extra investment funds and renewed vigour will be able to target additional areas of opportunity which would include, for example, major house builders, other major building contractors and expanding the current client base.
Premises: The company operates from excellent freehold premises of circa 600 square feet. A self contained upstairs apartment is let at a rent of £600 per month.
Advertising and MarketingA professionally designed, maintained and hosted website serves as the main shop window to the business. Advertising in Yellow Pages™ is used, specifically for testing services. Mailshots are sent out on an infrequent basis.The business has reached a position where the development and execution of a strategic marketing plan addressing all media activities would be of significant benefit.
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. The business is financially stable with very low levels of borrowing and enjoys a strong order book with high gross margins and is displaying sustainable and strong growth. Turnover in the financial year to 31st May 2007 was circa £900,000 (subject to audit). Gross profits are forecast at circa £200,000.
Employees: Two excellent managers report to the owner. Each is responsible for his own main area of activity, namely contracting and testing. Nine electricians work within the business, with additionally two trainees and two apprentices. As mentioned previously, three part time administrative staff are also employed.Specialist sub-contractors are frequently utilised for data, audio-visual, intruder and lightning protection installations.
Support and Training: The current owners will agree to an extended period of handover, training and familiarisation to ensure a smooth transition to new ownership.
Reason for SaleThe owner is looking to dispose of his interest in the business to enable him to focus on other activities. | | | | | | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | GK128 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
