Coach Hire Business in Witney Oxfordshire with Loyal Clients, Potential for Expansion, 4 Coaches Included
Witney, Oxfordshire
- Status
FOR SALE
- Date Submitted:
15/08/23
- Advert ID
518104
- Reference
1330_J / Rightbiz
- Call Agent:
- Leasehold: £78,000
- Turnover: £250,313 (£4,814 Per week)
- Net Profit: Not Applicable
Business Details
Coach Hire Business With Loyal Customer Base
BusinessCoGoGo welcomes to the market Blunsdon’s coach travel, with a well-established loyal customer base.
The coaches are available for either home to school transport or for individual private hire. The business is registered with the Department of Transport as a National Operator.
The business currently operates three home to school transport, and occasionally assist other coach operators in the local area with their commitments. There are additional primary school supporting services such as swimming lessons.
Included in the sale are four coaches ranging in age from 2006 to 2014. From January 2022 there are major changes coming to the industry to comply with PVSAR ( Public service vehicle access requirement ) at this point all vehicles provided for home to school transport will have to conform to these standards. Blunsdon’s coach travel now have two of the four vehicles complying with PSVAR. The other two vehicles are likely to undergo a conversion to reach PSVAR in the near future.
All insurance is up to date and will run until April 2022. There is scope for expansion as contracts are often put out to tender. The business is supported by a website.
This is a fantastic opportunity, and our client is happy to work alongside the new purchaser for a period of time offering assistance, and to act as a Qualified Transport Manager, it is a legal requirement to have a manager with the CPC Managers Certificate ( Certificate of professional competence.) this until the new buyer can achieve this status.
Prospective buyers should be aware that this is very much a hands on company and not suitable to someone who can see this as an office job. Ideally the new owner should hold a PSV driving license or willing to take on training to achieve this.
Prospective buyers should be aware that this is a sole trader business and on sale the new purchaser will have to register as an Operator in their own right with the Ministry of Transport. This is a small paperwork exercise with little cost.
Scope For Development -
The business was founded in 1977 and is well known in the county of Oxfordshire. There is scope to increase business on the long term. Expansion is possible. The coach and bus industry was hit hard over the last 15 months due to covid 19 but there is evidence that the future is bright. However the Summer of 2021 is improving but not at the levels of 2019 and before. It is envisaged that 2022 will be improving the situation.
Location
The business is located in the market town of Witney, Oxfordshire. This is ten miles west of Oxford. The position is well suited near the junction of the A40, and eventually the M40. Witney is an attractive area with proximity to the Cotswolds. The coaches are parked in a lockable compound on an industrial estate to the west of the town near Minster Lovell. The yard is spacious and is sub-let to other coach operators in the local area. This provides additional income for the business. The yard is well positioned for the home to school contracts to reduce costs.
Premises
The coaches are parked in a lockable compound on an industrial estate.
Tenure
The yard in Witney is leased at £12,000 per annum, but as stated due to parking made available to two other coach and bus operators the costs to the business are reduced to a very low level for the land available. Renewing the lease is a small paperwork exercise. The current lease is due to expire in August 2022.
Hours
This is very much a 7 day operation, more so in the summer months. Though the bulk of the work is usually during the normal working week. It should be noted that there are times when business becomes very limited, mainly over Christmas, Easter and the month of August when the children are off school.
Staff
There are presently two full time employees and three part time drivers supporting the business. We have an experienced team with all having several years in the trade. All maintenance is contracted out to a local company who are experts is coach and bus operations. The coaches are on a 42day safety check routine as required by The Ministry of Transport. The business as almost a 100% first time pass at annual test.
Financial Profile
The business had a turnover of £250,313 for year ending 2019. The reported gross profit was 40%.
Due to the recent covid-19 the business was hit financially but as survived the crises. The tax year ending 2020-21 is likely to show a rather small profit or a loss. However the economy is improving, and it is likely that from 2022 the business will show a favourable profit margin once more
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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