Well Established & Profitable Office Furniture Company
Location : Essex & London
Asking Price : £700,000 (inc. net assets)
Turnover : £600,000
Net Profit : Undeclared
Gross Profit : £300,000
EBITDA : £190,000
Net Asset : £120,000
Premises : Leasehold
Confidentially offered for sale
Gross Turnover circa £600,000 per annum
Gross Profit circa £300,000 per annum
Adjusted EBITDA circa £190,000 per annum
Net Assets circa £120,000 including vans and Stock
Running Successfully for 15 years
Warehouse and ideally located retail shop
3 owned vans and 2 leased vans
70% Used Furniture (excellent margins) and 30% New Furniture
Established Customer Base including over 20 schools
Excellent staff including sales team and fitters
Effective Website which integrates fully with Back Office and Finance
Fully Digital Sales Leads (SEO and PPC Advertising)
Directors will ensure smooth handover
Turner Butler has been appointed to invite offers of purchase for this established and highly profitable office furniture company that has an excellent customer base and established retail and website presence.Business Profile
This business was set up by the owners 15 years ago and has developed a range of loyal customers ranging from small companies, larger corporates and over 20 schools.
The business has grown predominantly through word of mouth and repeat business. The owners have also invested significant funds into a website and targeted digital marketing and are ranked highly in internet search engines and in Pay Per Click (PPC) advertising.
The company has all the necessary equipment and infrastructure for a new owner including financial software, vehicles and equipment.
• Having successfully traded for many years this business has built up an enviable reputation based on service and delivery.
• Superb customer base- highly desirable companies and schools.
• Impressive levels of customer retention and repeat business.
• Great High Street Retail presence and warehousing facilities
• Excellent profitability
• Huge scope for expansion
• Excellent staff
The vendors have operated the business as owner managers and having established a solid track record with impressive profits are looking to offer the opportunity for new owners to grow the business further and use the current client base to expand sales. The model is simple and proven. The company has a prominent retail shop with a sales manger and significant and expandable warehouse facilities.
The customer base could be developed further through dedicated sales and account management as many of the clients have additional sites and opportunities for cross selling particularly within local authorities and schools.
There are many other opportunities for growth available including refurbishment, office clearance and promoting new office furniture.
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 achieved turnover circa £600,000 per annum last financial year.
Resultant gross profits circa £300,000 per annum. Adjusted EBITDA was circa £190,000.
Equally impressive figures have consistently been posted over previous years as the business enjoys high levels of repeat business from its loyal customer base.
All plant and equipment owned by the business is included within the sale price (circa £120,000). There is huge potential to develop this business further.
The Asking Price of £700,000 including Net Assets is for 100% of the issued capital of the company, assuming Net Assets of £120,000. The final selling price will have a £1 for £1 adjustment for any rise or fall in this benchmark Net Asset figure of £120,000 at completion.
The business has historically relied on repeat business and a large percentage of turnover is from existing clients. The owners have recently invested funds into a dedicated website and employed marketing agents to drive website traffic to their site through Search Engine Optimisation (SEO) and Pay Per Click (PPC) advertising through Google. This has started to produce impressive results but could be developed further by a new owner.
Even though the business is well established there are significant opportunities to expand. The company does not employ any dedicated regional field sales representatives. The owners have only recently started to actively market on websites and digital platforms (Google, Gumtree, and EBay etc.) But there are significant growth opportunities in this area.
There is huge demand for good quality used office furniture and there are a number of larger tender opportunities with local authorities and educational establishments to secure further longer term contracts.
This is an ideal opportunity for an additional bolt on to an existing office furniture company or as a stand alone investment.
The business operates from rented warehouse and rental premises with excellent access to the road network. The warehouse and retail shop are on flexible terms that could be renegotiated or terminated depending on the new owners requirements.
Monday – Friday
The 2 owners work full time within the business, one is responsible for sales and finance and the other is responsible for operations. The business also employs a sales manger for the retail shop and a full time office furniture fitter. The owners have built up an impressive network of sub contractors.
The current owners would be happy to provide full support at handover and may be prepared to stay on for a further period should a new owner so require subject to negotiation.
If you are interested in receiving further information, please sign and return the attached Confidentiality Agreement. In returning the Agreement we would be grateful if you could provide us with details of your interest in this opportunity along with your funding position.
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 firstname.lastname@example.orgTurner Butler Disclosure Statement
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