World-Renowned Car Parts Manufacturing Business in Morpeth Northumberland for Sale
Morpeth, Northumberland
- Status
FOR SALE
- Date Submitted:
17/06/21
- Advert ID
278371
- Reference
B06228 / Rightbiz
- Call Agent:
- Leasehold: £75,000
- Turnover: £110,309 (£2,121 Per week)
- Net Profit: £54,206 (50% Profit margin)
Business Details
Well established Car Parts manufacturing business for sale
BusinessPlease quote reference B06228
CoGoGo welcomes to the market an exciting opportunity to acquire (on a leasehold basis) an exceptionally well run and performing classic car part manufacturing business with a worldwide brand name.
Springalex Ltd has been trading for many years and has been under the meticulous ownership of our clients since 2008. It is only now the business has only now been introduced to the market as our clients look to take their well-earned retirement.
The business is renowned worldwide for production and supplying handcrafted wood and leather rim steering wheels and bosses for classic and sports cars all over the world. The products are made in their warehouse and by subcontractors in the UK, supplying major aftermarket outlets in the UK, plus shipping worldwide to trade customers. They also have variations on the products available as well, from top of the range to the lower budget end of the market.
It must be clearly stated that the current business is operated by a husband-and-wife team on a part time basis with working hours of 09:00 – 12:00 daily, leaving plenty of scope for a new owner.
We feel there is scope to increase turnover with the undertaking of a robust marketing campaign via local press, classic car magazines, social media, and further promotion of the dedicated website, along with the possibility of introducing new products to complement the existing range.
This is a highly desirable business and would be a very attractive proposition for either an individual or partnership looking for their first business in this sector which is already established, or for an experienced operator looking for an additional business with an attractive income stream.
Very rarely do businesses of this calibre come to the open market therefore, early viewing must come highly recommended to avoid disappointment.
Location
The business is based in a commercial trading estate with mainly office accommodation and some light industrial premises. The area benefits from excellent road access within.
Premises
The business is located in secure warehouse premises, with all tooling and equipment in place, but could quite easily be relocated within another business setup anywhere within the UK.
Tenure
We are advised that the business is being sold a Leasehold basis, with the current lease due to expire in 2021. The rent is £400 per month.
Hours
The business hours are -
Monday – 09:00 – 12:00
Tuesday – 09:00 – 12:00
Wednesday – 09:00 – 12:00
Thursday – 09:00 – 12:00
Friday – 09:00 – 12:00
Saturday - Closed
Sunday - Closed
Staff
We are advised that the business has 2 part-time staff members.
Financial Profile
We are advised as per the 2020 accounts, the business generated a turnover in the region of £85,000, with an adjusted net profit in the region of £27,000. Full financials can be made available upon further request.
Please quote reference B06228
Contact Agent
Listing Statistics
Contact the seller for more details, or book a viewing
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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.
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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.
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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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