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BUSINESS REFERENCE : AM084 / RightBiz USED CAR SALES DEALER WITH FREEHOLD SITE | | | | | | Used Car Sales Dealer With Freehold Site Confidentially offered for sale Ref No: AM084 Location: North East Asking Price £2,350,000 | | | BUSINESS LOCATION: | Undisclosed Relocatable UNITED KINGDOM | | BUSINESS SECTOR: | Motor & Transport | | TRADE TYPE: | Mot Services | | SALE: | Agent Sale | FREEHOLD: | £2350000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile
Established six years ago and located on the edge of a busy industrial estate in the North East, this business has built up a reputation for offering the biggest and best selection of mid priced used cars in the area.. There are circa 150 cars for sale, including commercial vehicles and a good choice of 4 x 4 motors. The vehicles are all hand picked and appraised by the knowledgeable and friendly management team and prior to being offered for sale they are all valeted, serviced and fully prepared for sale.
The business has built up an excellent reputation, which is evident by the number of repeat customers who return to make their next used car purchase.
Recently the business has invested in a new MOT and service centre with paintshop.This enables all servicing, repairs and preparation to be completed on site, and also provides an extra revenue stream.
Trading from a freehold site and with excellent turnover for the past year in excess of £1.4M, generating gross profits of circa £244,000, this represents an excellent opportunity to aquire a prestige used car business with significant growth opportunity.
Equipment
The MOT bay has 3 x 4 poster lifts, 2 x compressors, brake testing equipment and gas emission testing equipment. The paint shop has spray equipment, purpose built spray bake oven, all tools and equipment. The garage also has a vehicle transporter.
Customer Service
The business sends a regular quarterly mail shot to its large database of customers, keeping clients updated on everything that is happening within the business. There is also a customer Priviledged Gold Card which gives discounts on servicing, repairs, MOT’s and paint jobs to their regulars. For warranty repairs, a courtesy car is provided.
Key Strengths
Ideally located, the business is the largest used car dealer in the town. The prominent site guarantees visibility for the high volumes of passing traffic. The dealership is well established with a strong repeat customer base and a reputation for honesty, reliability and integrity. The experienced staff are friendly and highly knowledgeable ensuring a constant stream of customers coming to view the latest range of well priced cars on offer.
Profits have continued to rise and overheads have been kept low, with a good cashflow position.
Local press adverts are taken out each week and the garage also uses both the Autotrader magazine and the Autotrader web site to advertise their cars. The company also has its own user friendly web site.
Growth, Expansion & Opportunities
There is an oustanding opportunity to build on the existing business which has grown significantly since 2001. This is backed by a growing database of customers and a strong local reputation.
The site could easily accommodate approximately double the amount of cars on display and is also adaptable for other useages.
The newly built service centre has spare capacity and will certainly generate more custom as word spreads of the extra services that are being offered. Extra car items and parts accessories could be sold as the site has room for expansion, which could include tyre sales and exhausts.
Employees
There are Nineteen employees within the company, including the owner and his wife who is company secretary. There is a CEO, a sales manager, two salesmen, a receptionist, an accounts clerk, a service manager, three mechanics,a paint shop foreman, two panel beaters/ spray painters, three car valeters(two part time),and a part time driver..
Premises
The freehold site is circa two aces and is located on a busy industrial estate in the North East. The premises are fully secure with spiked metal fencing around the complete perimeter. All metal gates are locked in the evening.
There is a workshop, paint shop, mot centre with store room, offices and garage within the warehouse. Outside the car sales are run from a small portakabin office.
Financial Information
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.
Current turnover is circa £1,428,000 per annum with Gross Profits of circa £244,000.
Reason for Sale
The current owners would like to pursue different opportunities and feel the time is right for them to sell the business.
Support and Training
The business runs smoothly and is easy to administrate. The owners will be happy to help with a smooth transfer and handover | | | | | | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | AM084 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
