Specialist Garage for Mechanical Car Repair & Servicing plus Class 4 MOT Station
Location : Ipswich
Asking Price : £260,000
Turnover : £223,791
Net Profit : £78,000
Gross Profit : £161,341
EBITDA : Undeclared
Net Asset : £89,000
Premises : Leasehold
Confidentially offered for sale
Turnover circa £223,791 per annum
Gross Profit circa £161,341
Net profit circa £39,094
Net asset value £89,000
Repeat client base
Referred business from main Dealers
Originally started in 1982, the vendor bought this well established garage in 2002.
The garage specialises in high quality mechanical car repair, servicing and is also a busy Class 4 MOT centre. The garage has established a fantastic reputation for high standards of service and value for money. This has generated a repeat private client base with some business referred from main dealers.
The well fitted and equipped high end workshop premises comprise of 2 x 2 post hydraulic ramps, 1 x 4 post ramp.
The garage also operates a professional breakdown and recovery service for many main dealers and body shop businesses.
Sage software is used for accounts, invoicing and payroll.
3x Workshop lifts – 2x2 post & 1x4 post
1x M.O.T. test equipment – brake tester – emission tester etc.
1x Workshop compressor
2x Diagnostic machines
1x Air-con service machine
1x Oil drainer & tank
1x Mig welder
2x Gearbox lifts
1x Engine workshop crane
1x Tracking gauges
1x Tyre machine & wheel balancer
1x Parts washer tank
2x Battery charges
1x Bench drill & grinder
1x Iveco crew cab spec lift recovery vehicle (2006)
1x Iveco day cab slide bed recovery vehicle (2004)
The garage has developed an excellent reputation for high quality work and dealing with customers in a friendly and courteous manner. This reputation has led to plenty of repeat business and customer referrals. Customer service is a top priority with the level of service provided being second to none.
The business has grown over the years and caters for all types of mechanical car repairs. The experience gained over the years provides the knowledge to carry out even the most difficult of tasks. A high level of workmanship and service is provided at competitive rates, whilst honesty and reliability are the watchwords of the company. They have extremely high levels of repeat business and generate new business from word of mouth recommendations.
The garage has a complete customer satisfaction mentality that runs throughout the workforce. All staff are courteous and amenable to their customers, remembering at all times they are providing a valuable service.
The business is well run with a professional approach, with skills and knowledge that is second to none in all forms of vehicle repair, servicing and MOT’s. There is excellent scope for growth within the company.
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 circa £223,791 per annum
Gross Profit c£161,341
Adjusted Net profit c£78,000
Net asset value c£89,000
The Asking Price of £260,000 is for 100% of the issued capital of the company, assuming Net Assets of £89,000 on completion (calculated on a zero cash-zero debt basis).
The business operates on recommendations by customer word of mouth and referrals. Advantages to improve profitability are being lost as there has been no investment in a company website to promote the services on offer. Undertaking a local marketing campaign could also bring in additional business.
Trading in total for over thirty years the business reputation has been built upon this standing through word of mouth recommendations. The company has grown steadily and the owners believe that with a positive market outlook there is an excellent opportunity to take the business forward over the coming years.
Building on the existing services and customer base of this business could be achieved by extending the premises and introducing a further MOT ramp to offer class 7 MOT’s as a way forward. Also committing to a small advertising budget, plus investment in a company website, could achieve additional enquiries and ultimately additional profits.
The premises are leasehold with 40 years remaining. Annual rent is £5,120 with rates of £10,500 (£3,781 payable).
The property comprises of a building of approx. 203 sq. mo. including 2 x two post hydraulic ramps and 1 x four post MOT hydraulic ramp, an office plus an is well secured with monitored alarm, steel doors and security posts.
Monday – Friday: 8.00am - 5.30pm
Full time staff include the two owners and a mechanic. There are also two part time administration staff.
The owner is happy to provide support and training for the new owners, if required, to ensure a smooth transition of ownership.
The vendor is planning to retire.
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