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Highly Profitable Used Car Dealership

Ref. AM109

Location : Cornwall

Asking Price : £395,000

Turnover : £1,700,000

Net Profit : £151,000

Gross Profit : Undeclared

EBITDA : Undeclared

Net Asset : Undeclared

Premises : Leasehold

Confidentially offered for sale


  • Turner Butler

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Asking price includes:

Turnover £1,700,000 per annum

Net Profits before drawings £151,000

Long established business

Extensive database of clients

Excellent and long serving staff

Busy workshop and MOT centre

Leasehold premises

Goodwill

Business Profile

This company was established in 1991 and over the years has established itself as one of the leading used car retailers in the region. Over the last eighteen years it has built up an enviable database of customers who not only use the service and MOT facility but also source their vehicles from the business. Because the company has been trading for so long they can boast of supplying several generations of whole families many of who have introduced their friends and associates to the dealership.

The sales operation sells around two hundred and ten used vehicles a year covering all client requirements from £3000 cars to £25,000 luxury vehicles. On average the operation holds around thirty-five well presented cars and stock is sourced from local franchised dealers, on line auction houses and known and trusted traders. The business is an approved buyer for BMW and Audi ex company cars. They are also a buyer of Motability vehicles

Every vehicle is prepared for sale on site by the in house valetor. Any refurbishment or service requirements are catered for in the large and well equipped work shop that also has a small paint shop facility.

Location

The business is well located on a major trunk road into the City with heavy passing traffic.

Financial profile:

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.

The business enjoys a combined turnover (workshop and sales) of around £1,700,000. Net profits remain stable at £151,000. Present economics conditions have not impacted on this business due to the strength of the client base.

Advertising and Marketing:

The operation advertises in the local papers and on the Autotrader website. Key to their success is the amount of attention paid to farming the database which has twenty five years worth of customer information in its archives. Customers are sent out service reminders every six months and annual MOT notification. This not only keeps the workshops busy but also helps to maintain a relationship with the sales department.

Premises:

The premises consist of a forecourt, reception area, two car showrooms and seven offices, a kitchen and two toilets. The large workshop has one four poster and four two poster ramps. Alongside the MOT bay is a body shop with spray room and paint mixing machine plus tyre fitting, balancing and tracking equipment. There is ample room for the valeting bay.

There is a small parts department that is well supported by local motor factors, which is close to hand.

Employees:

• Two Directors

• One receptionist

• Three time served fitters

• One panel beater and sprayer

• One part time valetor

This is a very stable team of employees with all staff having been with the business for at least ten years.

Reason for Sale:

After a long and successful career the senior partner has decided to take early retirement.

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 678532
info@turnerbutler.co.uk
www.turnerbutler.co.uk