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Distributor of Professional Audio and D J Equipment

Undisclosed, London
Status
FOR SALE
Advert ID
182240
Reference
AD023 / Rightbiz
Leasehold Price: £540,000
Annual Turnover: £1,000,000
Distributor of Professional Audio and D J Equipment
Ref. AD023
Location : North London
Asking Price : £540,000
Following in excess of 23 years in trading and retailing high-end Audio Visual equipment, the vendor established this stable and growing business in 2005 to focus on the Professional Audio and D.J equipment sector.

From the outset the business has focused on its reputation for delivering all types of equipment, including hard to find and discontinued items. Alongside the major OEM electrical companies, and the high-end niche manufactures, the business stocks from a wide range of suppliers across the industry. As such they have developed a true one-stop shop for the AV installer, Professional D.J., and Nightclub / bar looking to source and implement the best equipment in the market.

The business sells mostly through wholesalers and distributors, with some direct retail orders. Approximately 25% of orders are for the U.K. market, with 75% destined for Europe. They have agreements in place with some major continental distributors, including Germany’s largest retailer.

The business has won a number of exclusive sub-distribution agreements with niche high-end manufactures for U.K. and Eire. Also with the amount of trade the business is capable of, they are continually offered “Direct Dealership” opportunities with major brands such as Sony, Panasonic and Pioneer. Should the retail operation be expanded, this can easily be capitalized on.

The business is currently located in a large and flexible building in North London, allowing for storage and warehousing on-site, with office space and a small retail area. The business can be re-located, the vendor is open to leasing the premises at market value to a new owner, or selling the freehold of the building.

Equipment:

The business implements SAGE database and accounting software. As such, all customer records are fully computerised, with order and invoice history. Alongside the main website, with a well-known trade name, the bsuiness also owns other domain names for focusing on different retail sectors / product ranges.

The office handles orders 24 hours per day via telephone and internet ordering, and can accommodate all credit card payments.

Customer Service:

High quality service, with flexibility, honesty, reliability and good value, every order request is important and customers always come first. The result is self evident in the business’s sustained level of repeat business. The business prides itself on attention to detail for orders of all sizes, from major shipments to the continent, to one-off orders in private individuals. With such a wide range of products available, all equipment needed for a project can be purchased from one site, with one shipment cost. This appeals to the small Audio Visual fitter, Professional D.J. and private individual.

Key Strengths:

The business is now established as one of the market leaders in the industry, and the only distributor in the market with such a range available. With the knowledge and ability to source hard to find items, the company receives regular requests from other distributors and competitive partners to source equipment. The company has strong relations with wholesalers and distributors through-out the U.K. and Europe. As one of the largest importer / exporter of AV equipment they are a preferred supplier for household name electrical and electronic manufactures. From such a stable footing, the business has consistent sales turnover from which to expand in a number of directions.

Growth and Expansion Opportunities:

The business is primed for expansion. The current building can accommodate a retail operation, which the vendor has declined to expand. Also with the preferred status of key manufactures, there is the opportunity to open a direct dealership for the likes of Sony, Panasonic or Pioneer. With specific further marketing to drive private individuals to the website, the internet retailing operation could be greatly expanded.

The trading name is open to expand the range of equipment offered away from the core pro-sound sector. The vendor has also indicated that there is massive potential for expansion further into Europe, with a particular focus on the fast growing Eastern European marketplace.

Financial profile:

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.

Turnover is on target to achieve circa £1,000,000 for this current year with a Gross Profit Guideline £200,000.

Asking Price:

The Asking Price of £540,000 is for 100% of the issued capital of the company, assuming a neutral balance sheet (calculated on a zero cash-zero debt basis). This Net Asset position includes all the plant and equipment.

Advertising and Marketing:

The business has maintained a constant presence in the marketplace over the years, with regular stands at U.K. and German exhibitions. They provide promotional material with every order delivered, and take regular advertising in trade magazines. The customer database is comprehensive and allows for both traditional mail, and e-mail shots to existing clients and registered users.

Premises:

The business operates from Freehold premises owned by the vendor . A lease can be discussed if required or alternatively the vendor owns the freehold of the premises, which could be made available under separate negotiation. The business could also be relocated.

Employees:

The business employs the vendor as Managing Director of the company, who is currently responsible for all export sales. In support is 1 full-time employee, who assists in all aspects of the business operation.

Support and Training:

The owner would be happy to help with a smooth transfer of company ownership and to stay on for an agreed period, subject to negotiation, to help the new owners, if so required.

Reason for Sale:

After many years in the trade building a successful business, the vendor is looking to hand-over the company on an upward trajectory to someone who can take things to the next level. He is looking to enjoy a great work / life balance and pursue other business interests.

Looking for finance ?

If you are looking for finance to fund your business purchase then we recommend that you talk with our independent finance broker. Because of his many years working at a senior level for a major high street bank he has had more success with finance applications than anyone else we know. He has helped numerous purchasers of businesses that we are selling, including buyers who have been turned down by their own bank! Call us today on 0800 046 1652 or email us at finance@turnerbutler.co.uk
Listing Details
Location: Undisclosed, London
Sector: Events Businesses, Audio And Video Businesses
Key Features
  • Company for Sale
  • Attractive Business
  • Established Business
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Advert Reference: AD023 / Rightbiz

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