26-year-old Renowned Engineering Supply Business in Witney Oxfordshire for Sale
Witney, Oxfordshire
- Status
FOR SALE
- Date Submitted:
09/07/18
- Advert ID
224281
- Reference
B04478 / Rightbiz
- Call Agent:
- Leasehold: £65,000
- Turnover: £89,867 (£1,728 Per week)
- Net Profit: £7,067 (8% Profit margin)
Business Details
Well Known Engineering Supply Business
BusinessPlease quote reference B04478
CoGoGo welcomes to the market this Engineering supply company, which has been established for more than 26 years and is very well known in the area.
The business provides a service to anyone who makes, breaks or repairs something. They supply anything from nuts and bolts, fasteners and fixings to adhesive, hand tools to safety wear and everything in between.
They supply both the trade and the general public, having several trade contracts within the area.
The business is well known within this industry as a reliable and trusted supplier of good quality products at competitive prices and the business has built up a very large customer base in an ideal location.
Providing an array of engineering supplies to clients such as Mechanics, Carpenters, maintenance teams and schools, the business is continually growing and developing to meet customer needs. They can also be found on Facebook with great reviews.
The owner has been slowing down over the last few years due to impending retirement, however the business has massive potential for the future and could easily be taken to the next level by:
• Increased advertising and social media presence
• A good quality website
• Longer hours and in particular by taking on staff to increase the delivery side of the business. (The owner has extensive experience of this as he used to have 12 vans on the road and is happy to impart this knowledge to the ingoing purchaser, so they can take this forward if desired)
• Make full use of the ample first floor space.
An internal inspection, to speak to the owner and understand the potential moving forward is a must for this highly profitable business.
Location
Youngs Engineering Supplies ltd is situated on a purpose built industrial estate on the outskirts of Witney, a very popular and sought-after Cotswold village with much charm and character, offering a very accessible location.
Witney is a town on the River Windrush, 12 miles west of Oxford in Oxfordshire, England. The population according to the 2011 census is 27,520. Oxford itself is a very well know and famous for its University and Accademia.
The whole area is very popular with locals and tourist alike and offers good access to all surrounding areas via the A40 and M40.
The business itself is very well established in the area. It has been run by the current owner for the last 26 years, who is now looking towards a very well-earned retirement, but is more than happy to help the new owner bed in.
Premises
The premises occupy a great location in Witney with easy access. They are easily managed and offer a very good size workspace over 2 floors, amounting to approximately 334 sqm (approx. 3,600 square feet).
Ground floor:
• The main retail showroom with counter and till
• Spacious office
• Small kitchen
• WC
On the first floor, you have a substantial mezzanine level (put in by the current owner) which offers 4 offices, large store room plus further storage area (this space could offer various uses).
The business comes fully equipped with an extensive range of:
• Shelving and racking
• Computers
• Desks
• Chairs
• Filling cabinets and other office furniture
• Work benches
• Phone system
• Full Red Care alarm system
There is a substantial mezzanine level, which will stay in situ.
An internal inspection is very highly recommended to appreciate what’s on offer.
Tenure
We are advised that the business is being sold as a Leasehold opportunity rolling lease.
The rent payable is £9,100 per annum
Hours
Monday 8:30 a.m. to 5:30 p.m.
Tuesday 8:30 a.m. to 5:30 p.m.
Wednesday 8:30 a.m. to 5:30 p.m.
Thursday 8:30 a.m. to 5:30p.m.
Friday 8:30 a.m. to 5:00 p.m.
Saturday 8:30 a.m. to 12:30 p.m.
Sunday closed
Staff
The business is currently run by the owner only as he has been slowing down towards retirement
Financial Profile
The business turned over £96,000 for the year to 31st December 2019 with a gross profit of £63,000. The turnover in 2016 was £108,233 and in 2015 it was £131,073.
The turnover has reduced during this period due to the owners impending retirement.
According to the VOA website the current rateable value is £17,000, with rates payable of £8,700 per annum.
Please quote reference B04478
Contact Agent
Listing Statistics
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Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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