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Magazine and Newspaper Delivery Service

Woodbridge, Suffolk
Asking Price:
£85,000
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Status
FOR SALE
Advert ID
217814
Reference
B04197 / Rightbiz

Details

Business
Hilton Smythe welcomes to the market Grange News Limited, a newspaper and magazine delivery service which was established in 1998 by our vendor, who is now looking forward to retirement.Grange News Limited is a newspaper and magazine delivery service, delivering all national newspapers,•Local newspapers •Magazines Covering Woodbridge and surrounding locations including Kesgrave, Playford, Newbourne, Waldringfield, Ufford, and many other areas to the North and East of Ipswich. Due to the local demographic there is a high demand for newspaper delivery within the area and the company has in excess of 1000 customers, both private and corporate, across 40 different rounds. The business delivers to many corporate clients including a local campsite, a local store, 4 local public houses, nursing homes and schools. Grange News Limited prides itself on getting the majority of daily newspapers delivered through the door by 8am each day and has only one competitor in the area, which we have been informed by our client, charges a higher price for delivery, therefore, leaving a possible area to increase revenue. The company works on a 2 week or 4-week credit system for some customers, but also operates a pre-paid system, which brings in approximately £2000 per week. The revenue stream does not just come from the delivery charge but also from a discount on the newspapers and magazines themselves, of up to 25%on some issues.Although a profitable company the business works on word of mouth advertising only and would benefit from a website and social media pages to help promote the business in order to generate higher income. The delivery charge could also be looked at to increase income.As this is a business only sale, the incoming purchaser would need to have premises local to the area. The staff are willing to stay on, 2 of which are related to the owner and they would be willing to help with the running of the business if required.The current owner would be looking to help, for a transitional period.Hilton Smythe highly advise early viewing to avoid disappointment.

Location
Grange News Limited is currently located in Woodbridge, Suffolk and covers Woodbridge and the surrounding villages, including areas North and East of Ipswich, including Kesgrave.

Premises
As this is a business only sale there is no premises, however, the computers and the computer system are included.There is a 2008 Ford Transit 280 front wheel drive van that could stay by separate negotiation.

Tenure
Business only.

Hours
The business is open 7 days a week starting early in the day in order to get the papers and magazines delivered in the morning.

Staff
The business is run and managed by our client, with the help of 1 full time and 16 part time delivery staff.

Financial Profile
Grange News Limited generated an advised turnover of £374,048 as of the 2017 accounts, with a gross profit of £100,205 (after wages) and a net profit of £55,073. The adjusted net profit (EBITDA) works out to £71,448.The computers and computer system are worth in the region of £1000.

Seller Details
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Listing Details
Asking Price: £85,000
Tenure: Leasehold
Tenure: Other
Sector: Newsagents
Financials
Annual Turnover: £334,421
Location Statistics
What's nearbyi:
Scarlett & Mustard Ltd (approx. 0 mile)
PPR (UK) (approx. 0 mile)
The Angel (approx. 0.1 mile)
Just Hair (approx. 0.1 mile)
Blue Bay (approx. 0.1 mile)
Woodbridge Fire and Police Station (approx. 0.1 mile)
Chenevix Jewellery (approx. 0.1 mile)
Melton Community Primary School (approx. 1 mile)
Listing Statistics
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The data showed regarding this advert 'Magazine and Newspaper Delivery Service - B04197 / Rightbiz' comprises as a business advertisement. Rightbiz Ltd makes no warranty as to the accuracy or to the completeness of the advertisement or any linked or any associated information provided. In no event shall Rightbiz Ltd be liable for any damages or loss whatsoever including special, indirect, consequential, incidental or punitive damages for loss of profits and revenue, arising out of or connected with this website or to the use, reliance upon or performance of any information contained in or accessed from this website.