High Quality Funeral Business with FCA Regulated Pre-payment Scheme and Management in Place
Undisclosed
- Status
FOR SALE
- Advert ID
633406
- Reference
MC/FUNDIR / Rightbiz
- Call Agent:
- Leasehold: Price on Application
- Turnover: £1,100,000 (£21,154 per week)
- Profit: £300,000
Key Features
- Established Business
- Accounts Available
- High Turnover
Business Details
High Quality Funeral Business, With FCA Regulated Pre payment Scheme and Day to Day Management
This company is a substantial independent funeral director, supporting its local community.
Its key services include the arrangement and carrying out of burials and cremations and care of the deceased. The business typically undertakes c 250 funerals per year, Â and has a 10-11% share of its local market.
Around 25% of funerals are redeemed pre-paid funeral plans. Regulated by the Financial Conduct Authority (FCA), the business is authorised to sell pre-paid funeral plans and the current scheme incorporates around 800 live policies (over 3 years of funerals at the current level of activity), with a ‘death value’ of c £4.2M.
The business operates from a central hub, with additional branches. All of its premises are of high quality, reflecting a comfortable and comforting atmosphere for its clients, supported by a largely new fleet of vehicles. The business focuses on providing an award winning bespoke personal service.
The company employs 11 staff on a mixture of full-time and part-time bases, in addition to the directors, who are not required in the day to day operations, but provide overall strategic direction.
The Company is strongly cash generative, generating revenues in excess of  £1M, with an adjusted EBITDA of c. £. The business is operated on maintaining the status quo, rather than a growth strategy, which leaves opportunities for the new owners. In addition, the pre-paid funeral scheme is operating at a significant surplus.
The business will be sold with a debt free, cash free Balance Sheet and an expected net asset value in excess of c £300k. The acquisition will suit both buyers in the funeral sector looking to extend their geographic reach and / or incorporate an FCA regulated pre-paid funeral plan element within their business. It will also suit private individuals / small investor groups looking to purchase a robust and strongly profitable business. The directors have other business interests they wish to prioritise and hence the sale but will be flexible over appropriate handover support.
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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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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.
Be safe, use a Rightbiz Solicitor
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