Well Established Mid Market Used Car Sales Operation | | Undisclosed Hampshire | | Well-established mid market used car sales operation Confidentially offered for sale Ref. no: AM070 Location: Hampshire Asking price: £Undeclared | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 71597
ADVERT IMPRESSIONS : 18,387 TIME(S) | | | | BUSINESS SECTOR: | Motor & Transport | | TRADE TYPE: | Car Sales | | SALE: | Agent Sale | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Business profile:
Established for over ten years, but built upon the current Owner’s 20 plus years experience and knowledge of the motor trade, this very prominently located business attracts customers looking to acquire a mid market priced quality used car from a wide geographical area. With the very occasional exception, this business specializes in vehicles – any make and any model up to a retail value of £10,000.
The business operates from a prime location in this thriving Hampshire coastal town secured on a long term, 75 year lease.
Almost all of the stock of this business comes direct from private owners, local dealerships or is hand picked from major reputable auctions – routes which have consistently provided the best available quality vehicles at prices sufficiently high to ensure good margins in the end-user marketplace, as well as customer confidence in the proven heritage and quality of the vehicle itself.
This business can boast many loyal customers – customers that have returned to the business throughout the many years of its operation, due in no small part to the business's undoubted knowledge of the local used car market, its competitive prices and the choice of vehicles it always has readily available. With limited competition, the range of choice is well ahead of anything available elsewhere locally. Product knowledge is extensive and customers know when visiting this business that they will be dealing with someone able to make a decision during sales negotiations.
After sales service is excellent too – with three months parts and labour available on every vehicle purchased. All this has ensured this business has an enviable reputation right across the industry and even including the competition, which frequently recommends customers to visit this business should they not be able to meet demand.
With turnover consistently in excess of £1m, generating gross profits of almost £100,000 and trading from a very sizeable, highly visible location secured on a very long lease, this represents an excellent opportunity to acquire a key dealer in the used car sector in the Hampshire area with significant growth opportunities.
Customer service:
The business considers that happy customers come back and on that simple basis has maintained levels of product and service quality intended to best guarantee that happiness. The results of this commitment are evident in the degree of return custom and the choice of this business by customers in preference to competitors.
The business offers a warranty on all vehicles purchased with parts and labour covered for the first three months, post sale.
Key strengths:
This business is ideally located – it is the biggest car site in its area - on a main road in to town, very close to the M27 motorway. Its prominence guarantees access, visibility and high volumes of traffic attracting custom not only from the local area but from the major, local cities of Southampton and Portsmouth and all over the South East.
The business is well established with a strong, loyal customer base. This business has an outstanding reputation for honesty, reliability, integrity, its casual and open customer experience, excellent quality cars and highly knowledgeable and experienced staff, guaranteeing a constant stream of customers. Its stock is perfectly selected and priced to take maximum advantage of a significant local market.
Key opportunities:
There is an outstanding opportunity to build on the existing business levels and customer base of this company, backed by a strong regional reputation. With a strong demand for the vehicles sold by this business, combined with a capacity to increase turnover, a new owner contributing fresh ideas will have every advantage of building on an excellent platform. This business has consistently sold thirty cars per month and has the potential for forty or fifty per month. Currently specializing in vehicles with a retail value of up to £10,000, there is the possibility of adding higher specification, higher value vehicles, commercial vehicles and even camper vans!
This business maintains an extensive base of satisfied customers, who appreciate the company’s products and service. There are many excellent avenues for growth, especially with investment in additional stock – this is a market where it can’t be sold if it’s not in stock – and this business has the capacity to add more vehicles on to its site.
Although the business already invests in marketing and advertising using the trade press and local press, additional investment in this area would increase the traffic to the site over and above the currently healthy levels.
Currently run on a day-to-day basis rated by a very capable Manager there is no doubt a fully involved Owner operator would run the site much more professionally and especially
the on-site car wash facility. With a site of this size there would even be the possibility of adding a drive thru fast food outlet.
Opening hours:
The business currently operates:
Monday – Saturday: 9.00am – 5.00pm.
Sundays: 10.00am – 4.00pm.
Employees:
The site is currently under management with one salesman and one valeter working on the used car retail side together with three valeters working on the drive thru car wash.
Marketing and advertising:
The business uses the Autotrader media opportunities and has used local press advertising with an excellent readership within an extensive geographical area, very successfully. There are excellent opportunities to increase this and to invest in an Internet presence to market the business more aggressively and to significantly increase turnover.
A high proportion of the business's revenue however is due to its very prominent location and to no lesser extent due to its excellent reputation for quality vehicles at a very economical price and strong word of mouth recommendation.
Financial information:
The business is offered for sale as a going concern. 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 and has shown a consistent performance over the fifteen years or so of its operation.
Offers are now being sought for a sale of 100% of the Issued Share Capital I the Limited Company.
Turnover has consistently exceeded £1m with gross margins of approximately 10%. The current Owner feels that a dedicated, hands on Owner Operator could significantly increase the rate of sale and significantly increase turnover and profitability.
Reason for sale:
The current Owner wishes to pass the business on to new Owners to build on the excellent foundations already laid.
Support and training:
The current Owner will provide all necessary training and all relevant contacts to allow continuity of trading. | | | | | | FOR SALE | | | | | REFERENCE: | AM070 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
