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Used Car Dealership with Workshop
Leasehold

Ref. AM176

Location : Buckinghamshire

Asking Price : OIRO £200,000 plus SAV

Turnover : £4,956,101

Net Profit : Undeclared

Gross Profit : £637,663

EBITDA : £97,064

Net Asset : Undeclared

Premises : Leasehold

Confidentially offered for sale


  • Turner Butler

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Asking price: OIRO £200,000 plus Stock at Valuation

Business highlights include:

Turnover for last financial year circa £4,956,101 p.a.
Gross profits circa £637,663 p.a.
Adjusted EBITDA pre-directors’ drawings circa £97,064 p.a.

Workshop/Valeting area
Attractive sales office
Large well-maintained forecourt
Superb reputation
Established & loyal client base
Impressive repeat business levels
All tools and equipment
Training and handover
Goodwill
Website

Business Profile

This business was established just over 10 years ago. During this time, it has forged a sterling reputation, both regionally and nationally, as a trusted and knowledgeable business within the well-known and hugely popular market that it specialises in. The business has grown to become a trusted dealer within the locality and beyond with a reputation for the quality of its cars, competitive prices and excellent after sales care.

The business operates from a high-profile leasehold location with superb facilities and highly visible forecourt frontage, being situated on a main road. The site location is a real asset of this business. Many current customers have been loyal to the business since the beginning and this has been due in no small part to the business’s specialist nature, competitive prices, quality products, service and attention to detail.

The business provides the following on all used cars sold:

Full Service (if due within the next 4,000 miles) based on a 12,500-mile service interval.
Full Safety Check incorporating Lights and Levels top up and road test.
A new MOT (if less than 4 months remaining)
HPI check and certificate issue.
Professional valet inside and out.
Full set of mats.
Valuation of your current car.
Part exchange facility available.
Finance, warranty, GAP, Life-shine and wheel protection are all available.

In addition to their physical site the business has an expansive and excellent internet presence with its own professionally managed and interactive website, they can be found organically by an extensive list of motor related search words or phrases on page one of Google as well as having a huge presence on Auto Trader, Car Gurus, Motors.co.uk, AA cars, RAC cars, e-bay motors, Friday Ads, Facebook Garage, Twitter, Instagram, etc, etc. so that customers can browse their current used car stock virtually anywhere on the internet.

A vital component to this business’s success to date has been customer service, which is focused to a great extent both before and after the sale, as this is the place where the reputation of the business can be made or lost, it is also a rare member of the Trading Standards Buy with Confidence Scheme. The endearing company ethos means that this dealership enjoys good levels of referrals and long-term recurring business.

The site itself can accommodate just under 100 cars on the forecourt at any one time, with an offsite storage facility for 20-30 more, this ensures that there is always a good choice of vehicles for customers to view.

There is good access and the forecourt is viewer friendly. The vendor has continued to invest in the business over the years to the extent that it has a fully equipped workshop facility enableing it to carry out an extensive level of motor trade functions including air-conditioning servicing and re-charging, welding, tracking, engine, clutch and gearbox replacement, state of the art diagnostic equipment comprising Snap on and Launch, as well as general servicing.

The dealership has a very efficient air-conditioning system enabling a cool environment for customers and staff alike in the summer, this converts to a heating system for likewise maximum comfort during the winter, this is very conducive to good customer and staff relations.

Equipment:

All workshop and office equipment is included within the sale price. For example: Ramps, specialist diagnostic equipment and manufacturer software, Welding, tracking and all other associated garage equipment. Laptops, printers, desks, chairs and all other essential items necessary to run a motor dealership. This is not an exhaustive list as there are too many items to mention.

Car stock is entirely optional, the typical used car holding is circa £600,000 or you can simply re-locate with your own stock and the business owner will dispose of his accordingly.

Customer Service:

The business considers that happy people return, on that simple basis it has maintained levels of product and service quality intended to best guarantee that all of their customers are truly content.

The company enjoys excellent customer retention levels in terms of servicing and repair, it also benefits from repeat business from customers when they are ready to upgrade to their next car.

Key Strengths:

• High Profile Location
• Asset base and profitability
• Reputation
• Market Presence
• Customer Base
• Infrastructure (fully equipped workshop and offices)
• Levels of customer service
• Websites
• Business in a box, ready from Day One

Key Opportunities:

This is an outstanding opportunity to build on the existing business levels and customer base of this company which has a stand out and impeccable reputation. With a strong demand for this business’s vehicles, combined with a capacity to increase the range of car and possibly commercial vehicles and services on offer thereby creating an increase in turnover, a new owner contributing fresh ideas and enthusiasm could certainly take this business further forward.

Financial Information:

The business is being offered for sale on a going concern basis, this can be converted at a later date, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

The business has enjoyed consistent performance to date and its specialist reputation is growing year on year. The owners have put all the foundations in place for future success. No further investment in the premises would be required for a new owner to continue trading for a considerable amount of time.

Turnover for last financial year circa £4,956,000 p.a.
Gross profits circa £638,000p.a.
Adjusted EBITDA pre-directors’ drawings circa £97,000 p.a.
Stock circa £600,000

With a new injection of energy, the business could certainly increase revenues further as the market place that the company specialises in is as popular as ever.

Asking Price:

The asking price of Offers In The Region of £200,000 is for 100% of the issued share capital and excludes current car stock (optional) and is on a cash free debt free basis.

Advertising and Marketing:

The business advertises through Auto Trader, e-bay motors as well as many other renowned and well-known car sales sites as mentioned previously. It also has its own informative website which advertises all currently available car stock with photos, specifications, prices, etc.

Growth and Expansion:

The dealership has enjoyed consistent levels of business over the last few years. There are many areas for expansion not least, better utilisation of the workshop facilities that the business has at its disposal. The workshops are generally used for servicing and maintaining the current stock with a percentage of revenue being generated through customer repairs, servicing and warranty work.

There is absolutely no reason why a new owner could not develop this side of the business further expanding it to offer tyre fitting, smart repairs, alloy wheel refurbishment, car valeting, etc, etc. to both existing and new clients in the trade and retail market.

Premises:

The business operates from high-profile leasehold premises circa half an acre. The forecourt is large and can accommodate just under 100 cars at any one time. There are also offices a showroom and a fully equipped workshop with two ramps. There is a children’s play and customer waiting area with a Barista quality coffee machine. Rent is currently £60,000 p.a. plus VAT, rates are circa £20,000 p.a.

Business Hours:

Monday – Friday: 09:00 – 18:00
Saturday: 09:00 – 18:00
Sunday: 10:00 – 16:00

Employees:

There are two directors in the business, one of whom works in the business through choice, since the rest of the staff ensure that the business manages itself reliably and profitably. The business also employs full time mechanics, sales personnel, finance and administrative staff and two apprentices, the valeting team are sub-contractors.

Support and training:

The owner will provide full business familiarisation, training and handover within a mutually agreeable and timely framework to ensure a smooth transition of the business to the new owner/s.

Reason for Sale:

Genuine retirement.

Funding your Purchase

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