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BUSINESS REFERENCE : EI003 / RightBiz WHOLESALE FISHING TACKLE SUPPLIERS | | | | | | Wholesale Fishing Tackle Suppliers Confidentially offered for sale Ref No: EI003 Location: Relocatable Asking price: £445,000 | | | BUSINESS LOCATION: | Undisclosed Relocatable UNITED KINGDOM | | BUSINESS SECTOR: | Miscellaneous | | TRADE TYPE: | Fishmongers | | SALE: | Agent Sale | LEASEHOLD: | £445000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile
This is an excellent opportunity to acquire, a well established fishing tackle business, supplying retail outlets, charter skippers, commercial fishermen, manufactureres and wholesalers
Originally the business was formed as a hobby in 1981, but grew quickly as more and more demand for good quality tackle was needed. Fishing is the number one participant sport in the UK and the market has huge potential.
The company has been successful because it has realised that the bedrock of any supply company is the quality of its service. The owners have built their reputation on supplying the trade with quality end tackle, including hooks,fishing line,swivels and many other items all at competitive prices. They offer a next day service on orders placed before 4.00pm and have no minimum orders, unlike many of their competitors.
Over the years the company have used their thorough knowledge of the industry, not only to establish reliable and competitive suppliers but also to develop a very well known brand of braided fishing line and it’s own brands of terminal gear. The major benefit of developing and sourcing these products is the degree of control and the availability of better sales margins making the company very profitable.
Customer Service
The busines is fully committed to providing the very best service to their customers. At present there is a database of circa 500 customers of which 150 loyal accounts are active at present. These customers are all over the UK and there is a small amount of export customers who buy on a regular basis.
The company deals with a major carrier who collects twice daily, ensuring that deliveries are made on time.
Generous settlement discount is afforded for quantity buying, and the company prides itself on its competitive nature offering price advantages on many lines.
Key Strengths
This family company offers its customers good quality fishing tackle at competitive prices, without comprimising its service and reliability. They have earned a reputation for being a trustworthy helpful and efficient supplier.
Over the years they have looked further afield for suppliers so they can compete on price with their competition. Now, as well as European and U.S sources, they are increasing their buying from Korea & China. This has enabled the company to increase their sales margin whilst giving them a competitive edge. Overheads have been kept to a minimum, whilst excellentt % profits have been maintained over many years.
Growth, Expansion & Opportunities
The company boasts a strong base of satisfied and regular repeat clients. They tend to get their business from word of mouth recommendation . A small advertising budget is used to produce a company catalogue with available product and prices listed. This is mailed out to all potential customers yearly. There is also a lineage advert taken out in the UK Tackle Trade Directory to promote the company.
The current owner has been with the business since formation. A new owner with fresh enthusiasm would bring new ideas to this well run and stable company. These could include a sales drive to promote the business, an increase in product range and the setting up of a company web site, which, up to now, has not been implemented. An opportunity definitely is there to sell many more items to the existing customer base with a more pro-active approach.
Employees
The owner looks after the complete day to day running of the business himself on a 4.5 day week aided by his wife on a part time basis (around 10 / 15 hrs)
Premises
The business at present runs from a small leasehold office and warehouse in the North of England, circa 138 sq. metres, but is easily re-locatable. The owner currently has costs of circa £4,400 rent per annum and rates of circa £2,200 per annum. If required the lease can be re-negotiated with the landlord.
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 £205,000 with Adjusted Net Profits of circa £102,000 and Net Current Assets of circa 200k.
The asking price of £445,000 for the business is based on a current stock valuation of £100,000. The stock valuation at the time of completion will be reflected in the asking price.
Reason for Sale
The current owners have been in the business for over twenty years. They believe this would be a good time to sell the company and follow other interests.
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 | | | | | BUSINESS STATUS: | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | EI003 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
