Retirement Sale Of Fully Equiped Motor Repair Business In Hertfordshire | | Undisclosed Hertfordshire | | A fully equiped service garage with 4 lifts, successfully run since 1969 at the same wealthy village location by the present owner with a very loyal customer base. t/o last year £280, 000 with 2 mechanics. . . . . . Great room for expansion. A rare opportunity. Lease to let or rent Retirement Sale Of Fully Equiped Motor Repair Business In Hertfordshire is located in Hertfordshire. | | ADVERT NUMBER : 69475
ADVERT IMPRESSIONS : 23,494 TIME(S) | | | | BUSINESS SECTOR: | Motor & Transport | | TRADE TYPE: | Garages | | SALE: | Private Sale | ASKING PRICE: | £25000 | ANNUAL RENT: | £24000 | | | | | BUSINESS DETAILS: | BUSINESS BUSINESS DETAILS:
Business profile:
Established for over 40 years and located in its current premises since the start, this is a leading garage services business specialising in the service and repair of all vehicles from classic sports cars and saloons to the modern day car. This is a rare opportunity to acquire a readymade business situated in an excellent village location.
On-site workshop facilities and a well trained mechanic, with many years experience, enable the garage to offer routine servicing as well as mechanical or electrical repairs along with MOT testing through a tried and tested, local MOT Centre relationship.
This is a well run operation with turnover for the financial year ending March 2011 of approximately £280, 000 generating gross profits of almost £68, 000, this is an excellent opportunity for an existing garage services operator to extend their presence or for a new entrant into the market to acquire an excellent foundation for future growth.
Key strengths:
The business has excellent facilities on-site and is ideally located in a highly affluent village, close to the A1(M) with the M25 and M1 motorways not far away. The premises are very much in keeping with what would be expected of a garage operating in this sector with easy access to many varied types of road, perfect for road testing vehicles.
This business has a highly skilled mechanic backed by up to date computer equipment for testing and diagnosing faults on more modern vehicles and as such the business is a ‘turnkey’ operation – a new owner would be able to move in and successfully run the business from the day of purchase.
Key opportunities:
There is an outstanding opportunity to build on the existing business levels and customer base of this company. With a strong demand for this business's services, a new owner contributing fresh ideas, enthusiasm and motivation will have every advantage of building on an excellent platform.
Tools and equipment:
This business has all the necessary equipment expected of a business of this nature, size and stature. There are five fully equipped bays, four of which have ramps or modern hydraulic lifts. The workshop also includes a lathe, jacks, axle stands, compressor, mig and gas welding, bulk oil and waste tanks, special tools etc. There is also an old but reliable courtesy car available for customer use.
A full inventory of plant and equipment is available upon completion of the usual confidentiality formalities.
Premises:
The premises is 2, 600 sq ft (250 sq m) plus a mezzanine floor in the main building where there is an office situated and a racked parts area. On the ground floor are five separate bays housed in three individual workshops and a small downstairs office/parts room. There is external parking space for around 10 vehicles. The premises are leasehold with two and a half years remaining.
The business currently pays a rent of £24, 000 per annum. Rates are £4, 870 per annum.
Marketing and advertising:
With a reputation built up over more than forty years of successful operation and an owner well known and respected locally, the business enjoys high levels of local awareness. Advertising is currently minimal and there is plenty of opportunity to increase awareness through a new campaign or a website.
The most cost effective form of marketing this business enjoys is the strong word of mouth recommendation and repeat visits from its extensive, loyal client base. This is testimony to its many years of operation and the high levels of customer service this business has consistently achieved.
Financial profile:
The business is offered for sale as a going concern. All financial discussions will take place directly between the vendor and all interested parties.
For the financial year ending March 2011, turnover was approximately £280, 000 generating gross profits of around £68, 000. This was down on the previous two years by some £100, 000 as a result of the current owner being taken seriously ill at the beginning of the year.
The Asking Price of £25, 000 is for a sale of the assets and goodwill in the business. The minimal stock is available at cost price upon completion (Most stock is bought on a ‘just in time’ system from local suppliers who deliver several times per day).
Employees:
The current Owner is ultimately responsible for the financial performance of the business, supported by a Workshop Manager/mechanic and a member of admin staff.
Support and training:
The current Owner is happy to assist with the hand over and the training required to ensure a smooth transfer of the business to new owners. It is not envisaged that this will be required to be extensive.
Reason for sale:
Having been involved in the motor trade for all of his working life and having recently been taken seriously ill, the current owner feels the time is right to dispose of the business and retire. | | | | | | SOLD or WITHDRAWN FROM MARKET | | | | | | | | | | | |
