| | | BUSINESS FOR SALE ADVERT DETAILS | | | ADVERT VIEWED : 25,031 TIME(S)
BUSINESS REFERENCE : CG030 / RightBiz CG030-SOUTH HUMBERSIDE-£195,000 -MORTGAGE BROKERAGE | | | | | | Mortgage Brokerage Confidentially offered for sale Ref No: CG030 Location: South Humberside Asking price: £195,000 | | | BUSINESS LOCATION: | Undisclosed Relocatable UNITED KINGDOM | | BUSINESS SECTOR: | Services | | TRADE TYPE: | Mortgage Brokers | | SALE: | Agent Sale | LEASEHOLD: | £195,000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
This mortgage based company specialises in finding mortgages for people who have difficulties in acquiring a lender. It was established 20 years ago by the present owner and was developed to capture a sub prime- self certificated – prime – domestic and commercial customer market place.
Because of the nature of the pre-qualification, conversion rates are very high and all clients are seen on a face to face basis due to the complex history of the clients. These are generally medium risk clients, therefore paying attractive commission fees
Equipment:
Tri – Gold Software
Six workstations, including, computers, lap tops internet contracted and server.
Two company cars
Call minder Panasonic telephone system, multi line
Fully equipped town centre offices
Key Strengths
The company is situated in a busy town centre high street location in South Humberside and has huge daily passing traffic. It also has an excellent web site which attracts more and more hits on a daily basis.
A major strength of this operation is the method that information is gathered.
Prospective clients complete a full FSA compliant fact- find on line or face to face, and submit their requirements, confirming that they wish to be contacted. Appointments are made offering the prospective client the best solution from a panel of lenders or insurance providers.
The enquiries which are submitted for quotation ,are generated by Tri –Gold Specialist Software and presented to the prospective client for consideration by a qualified financial advisor.
The business has an active database of over 2,500 regular clients across the East coast and the Midlands. The company has a total database of over 7,000 customer details.
The operation has very little borrowings which will be discharged upon the sale of the business, clearing any liabilities for the prospective purchaser. The business could be relocated if needed.
Growth and Expansion
There is a massive opportunity to grow this business in a short space of time. Every individual on the database has signed a form allowing the company to contact them, regarding additional financial services. This has not been acted upon up to now.
Focussing its attention on a specific area of the mortgage market mans that it has not taken advantage of providing, Life Policies, Health Insurance, Buildings Insurance or Contents Cover.
They have systems in place to accommodate these areas and also could become active in the loans market, which is a lucrative area.
The present owner is more than willing to assist in the hand over and training in the business.
Advertising and Marketing
The following areas have been used.
BT Phone book
Yellow pages
Kingston pages
Lead generation
Referral business
Existing client database
Passing trade
Web Site
Premises
The business is run from a town centre high street shop location.
Across two floors, downstairs has an open plan office with a small separate interview room and WC.
Upstairs consists of 5 small offices, store room and kitchen and WC.
Rent is £12,000 per annum and rates are currently £3,500 per annum.
Employees
The owner looks after the day to day running of the business. There are four, qualified (Ce MAP) financial advisors, two office administrators, two trainee financial advisors.
Financial Profile
Fee income circa £250,000 per annum.
Because of the nature of the business, overheads are comparatively low.
Reason for Sale
Due to ill health, and after suffering a stroke, the owner reluctantly feels it is now time to sell the business.
| | | | | BUSINESS STATUS: | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | CG030 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
