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Retailer, Supplier and Installer of Doors
To the public and Trade from a well sited shop, on a busy North London High Street

Ref. AH154

Location : London

Asking Price : £64,000 + Net assets

Turnover : £400,000

Net Profit : Undeclared

Gross Profit : £64,000

EBITDA : Undeclared

Net Asset : £50,000

Premises : Leasehold

Confidentially offered for sale


  • Turner Butler

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Leasehold premises

Business highlights include:

Turnover for 2017 circa £400,000
Gross Profit circa £64,000
Stock, vehicles & equipment assets circa £50,000

Successful trading history
Database of high net worth customers
Very wide range of stock
Quality service
Outstanding reputation
Excellent supplier relationships
E-Commerce enabled website

Business Profile

This well-known and respected business was founded in the 1950’s as a general DIY & hardware store and was bought by the vendor in 1983; since which time, it has been converted into a specialist retailer, installer and supplier of doors to the public and trade. A typical customer is a high net worth individual in that part of North London where the business is sited or the customer’s contractor.

This means that almost all of the business’ customer base is domestic and a small percentage can be said to be trade; and are typically within a 1 hour’s drive from the shop.

The shop is an attractive period property of double proportions and an excellent presence on this busy and popular high street in North London.

The company employs a skilled and motivated workforce , with an experienced shop manager responsible for all matters including sales, supply, people and client/customer matters. The business also benefits from an exhaustively produced searchable database of all its products, enabling a rapid, fully comprehensive and detailed quotation and stock management control. This approach to managing every part of the customer experience has led to high levels of repeat custom, sometimes across family generations.

The company has become known as a reliable, quality-focused supplier with an extensive range of options for internal and external doors in nearly every style and from all popular materials. The ability to provide such a wide range from a supplier group of more than 10 individual providers means that the customer can nearly always be guaranteed the delivery or supply of the door that they want at the right price.

The vendor has also recently invested in a full e-commerce facility for the company website, which is expected to increase turnover substantially.

This is a very competitive sector and the business’ success is due to this combination of location, range of purchase options and price.

Customers:

Clients include high net worth individuals and building contractors of such clients.

Customer Service:

The business offers clients the highest quality of construction fit & finish and great customer service.

Key Strengths:

The business has many strengths including:

• Enviable reputation in the region it serves
• Outstanding supplier network
• Searchable product database
• Exceptional levels of service
• Repeat business levels and referrals
• Exclusive range of products
• Highly reliable employees

Key Opportunities:

The business has enjoyed steady trade over its lifetime and this is expected to continue in light of its growing and loyal customer base. The clearest opportunity to grow the business would be by committing time to the business and tighter cost control.

The market outlook for the business is excellent. With a strong demand for this business’s products a new owner who is capable of bringing additional ideas will have every advantage of building on an excellent platform.

This is a unique opportunity to purchase a well established business.

Financial Information:

The business is being offered for sale on a going concern basis: all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

Turnover for 2017 circa £400,000
Gross Profit circa £64,000
Stock, vehicles & equipment assets circa £50,000

Asking Price:

The Asking Price of £64,000 plus an amount equivalent to net assets is for 100% of the issued capital of the company, assuming stock, vehicles and equipment assets of circa £50,000 on completion (calculated on a zero cash-zero debt basis).

Advertising and Marketing:

The company has a dated but attractive website providing details on the range of products and services.

A high proportion of the business revenue has been due to its excellent reputation for quality and service and the business regards its existing customers and partners as its best advertisers, maintaining an impressive database of high net worth individuals, whilst continuing to attract new referrals and recommendations.

Premises:

The business operates from well sited period premises, in a parade of occupied and similarly appointed shops, with 2 large Picture Bay Windows that provide for an extensive product display, which often draws passing trade into the shop. It is located on a main North London road with easy access to the M25 and central London, and is close to some of North London’s prime property areas.

The premises are situated on the ground floor, with a half share of a basement and is leasehold with the current lease available for renewal in 2019; the current lease was 10 years duration.

Space for the ground floor is circa 900 square feet with circa 450 square feet for the basement and includes showroom, storage and workshop; rent is circa £26,500 per annum with rates of circa £9,500.

Business Hours:

Usual office hours are Monday – Saturday: 8.30am – 6pm

Employees:

The business employs 5 full time staff along with the vendor;

1 x General Manager
1 x Deputy Manager
1x Sales Assistant
1x Driver & Shop Assistant
1x Carpenter

Support and Training:

The vendor is happy to provide support and training for a negotiated period.

Reason for Sale:

The vendor wishes to retire.

Looking for finance ?

If you are looking for finance to fund your business purchase then we recommend that you talk with our independent finance broker. Because of his many years working at a senior level for a major high street bank he has had more success with finance applications than anyone else we know. He has helped numerous purchasers of businesses that we are selling, including buyers who have been turned down by their own bank! Call us today on 0800 046 1652 or email us at finance@turnerbutler.co.uk

Turner Butler Disclosure Statement

This statement applies to information relating to any company or other undertaking or business advertised for sale by Turner Butler (a 'Business')

The information supplied by Turner Butler on its website or in any other promotional material ('the Information') is not and is not intended to constitute an offer for sale of the Business or any assets of the Business or of the shares of any company which owns the Business.

For the avoidance of doubt there is no intention to create a legal relationship which will only come into existence when a written contract for sale and purchase of the shares in or the Business has been entered into

The Information provided is not intended to address your particular requirements. Further the Information does not constitute any form of advice recommendation representation endorsement or arrangement by Turner Butler and is not intended to be relied upon in making (or refraining from making) any specific decisions.

Any agreements transactions or other arrangements made between you and any client of Turner Butler are at your sole risk and responsibility. The prospective sellers of the Business have provided the Information to Turner Butler. The Information has not been verified by Turner Butler.

You must carry out your own due diligence and satisfy yourself as to the accuracy of all matters. In the case of the sale of shares in a Business the Information has been prepared on the basis that the shares will consist of or include more than 50% of the voting shares and that both the seller and the buyer is either a body corporate, a partnership, a single individual or a group of connected individuals so as to fall outside the scope of regulated activities as defined by the Financial Services and Markets Act 2000. If you are considering a transaction which falls within the scope of such regulated activities you cannot do so through Turner Butler.

Appropriate professional, legal and accountancy advice should be obtained before making or refraining to make any decision.

Turner Butler does not accept any responsibility or liability for loss or damage of any nature that may occur by reliance on the Information. Neither Turner Butler nor any of our employees or agents makes any representation as to the completeness or accuracy of the Information nor do we accept any liability for any losses, costs, liabilities or expenses which may arise directly or indirectly from your use of, or reliance on the Information.

This document is governed by and shall be construed in accordance with English Law and any dispute arising in connection with it shall be subject to the non-exclusive jurisdiction of the English courts

Turner Butler
Ickenham House, 2-4 High Road, Ickenham, Middlesex, UB10 8LJ
Telephone 01895 25 6000 Facsimile 01895 25 7777
info@turnerbutler.co.uk
www.turnerbutler.co.uk