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We are a sub-contract engineering business, supplying a wide variety of industries - specialist equipment manufacturers, kit cars and automotive, rail, agriculture and farming etc. etc. We are normally small volume - batch sizes from 1 to generally about 100, but sometimes reaching the thousands. Most of our output is bespoke, centered around tube manipulation. We have a large customer base - at least a hundred active customers, many of whom we have worked with for years.
We operate from a 5000 sq ft factory on a small industrial estate, but with high headroom and an overhead crane. The building is leased but could be made available for purchase.
The work force is small, but stable and experienced - a total of 5 people including the owner.
We have a couple of CNC tube benders, and some single axis benders, along with some sheet metal work and welding equipment.
We have a number of regular repeating jobs including some niche work where we believe that our customer has no alternatives.
We have accumulated tax losses in the region of £250k, which will be useful in avoiding corporation tax for some years.
Any purchaser would need to provide drafting and engineering input (currently supplied by the owner) but it is anticipated that there would be a suitable handover period.
We have never had any sales effort - we have a good reputation, and our customers tend to find us. I believe that there is a lot of potential business if some effort were to be put into selling.
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.
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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.
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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.
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.
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.
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.
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.'.
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.
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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