Long Established Independent Funeral Directors
Location : North Wales/Chester
Asking Price : £375,000
Turnover : £240,000
Net Profit : Undeclared
Gross Profit : £148,000
EBITDA : £51,000
Net Asset : £42,000
Premises : Leasehold
Confidentially offered for sale
Turnover circa £240,000 p.a.
Gross Profits circa £148,000 p.a.
Typically 100 funerals per annum
100+ future funeral plans in place
Fleet of fully owned vehicles
Well established business- over 50 years successful trading
Full turnkey solution (chapels of rest, mortuary, cold stores, cars, van etc.)
Long standing excellent reputation in region
Town centre locations
High levels of customer service
Superb leasehold premises
This business was established by the vendor over 50 years ago and in that time has built up a sterling reputation in the region for providing a comprehensive funeral and undertaking service to clients in a highly personal yet professional manner. It has served the local communities impeccably and the company name is very well known throughout the area.
The business currently operates from three different leasehold properties. Two of the sites are located on the High Street in adjacent towns and are highly visible to the community. These two sites have receptions, offices and beautifully appointed chapels of rest, together with cold store, preparation areas, toilets, kitchen areas and ample staff/customer parking.
The third site is ideally based between the two above High Street locations and also has reception area, chapel of rest and offices, toilets, kitchen etc. This site also has large internal storage facility for the fully owned limousines, hearse and van to be housed, not to mention a mortuary, cold store, preparation area and workshop (for engraving, coffin preparation etc.)
All three properties are located within easy reach of each other. The business has built up an impressive infrastructure over the years so it can provide a complete funeral service to clients and take away much of the stress and worry for what is a difficult experience for most clients families.
The business is well known within the area it serves and enjoys an excellent reputation with local hospitals, town hall and cemeteries. Typically it carries out 100 funerals a year..
The business has been successful for many years mainly as a result of the wonderful level of service that it offers. As an independent, family run business, the personal touch and a friendly, caring attitude are what separate this business from much of the competition.
The business provides all the services that are normally associated with a company of its standing. They will make all necessary arrangements using their excellent relationships to organize all of their client’s requirements with the local churches, ministers, cemeteries and cemetery superintendents. All legally required documents are arranged. The business owns several vehicles that provide different options to meet their client’s needs, and can hire further vehciles at short notice if need be. Musical requests are taken care of as well as supply of flowers, urns etc. The business will provide order of service booklets. Obituaries and official notices are organised. The business can also provide repatriation services.
This business would be an ideal acquisition for either an existing operator looking to expand or indeed for an investor with no background in this sector to date.
All offices are beautifully and tastefully appointed and in excellent condition. Each site is self-contained and has fully equipped preparation areas with hydraulic lifts, cold stores etc.
The business also has its own engraving facility and carries a stock of ancillary items. (coffin furniture, handles, plates etc.)
The business has its own stretch limousine, hearse and transportation van. All in excellent condition with low mileage.
All vehicles, equipment, fixtures and fittings, displays, stock etc. are included within the sales price.
This is a business that greatly benefits from being an independent. This allows for a truly personal service. Staff are available 24/7 if a client has an urgent request or needs some information. This open all hours, on call at any time approach is very popular and results in high levels of customer satisfaction.
Having been run by the same family for many decades, the business has always been determined to maintain very high standards. This pride in the name of the business and its strong reputation has helped to keep the business successful. The business has been located in the same town centres properties for many years. This has helped to make sure that the name of the business is recognized by the local community.
The business boasts a very experienced team. This experience is a big asset in this sector. The business’s reputation is further enhanced by its membership of both the National Association of Funeral Directors and the Society of Allied and Independent Funeral Directors.
The business prides itself on its uncompromising attitude towards customer service. The family and staff who help run this business have always aspired to doing their best to take as much of the burden away from the bereaved family at what is obviously a very difficult time. All requests if at all possible are delivered. The business makes sure that somebody is able to respond to any issues that a client may have, no matter what time the call comes in. It is able to do this as it has the in-house knowledge and infrastructure already in place.
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 last financial year circa £236,000
Gross Profits circa £148,000
EBITDA last year circa £51,000
Book of future Funeral plans (100+)
Net Assets circa £42,000 (made up of predominantly Tangible Assets, Debtors less Creditors, cash)
The asking price is for 100% of the issued share capital of the business and is based on Net Assets circa £42,000 as per the latest accounts ending December 2016. The asking price also includes the book of future funeral plans (circa 100+)
This is a business that traditionally has relied on referrals and brand recognition as well as generations of family and friends recommending and using this business’s services. Very little in the way of advertising has been required. Historical advertising in the local press and church magazines has been effective. There is currently no proprietary website. A more up to date approach to marketing would be a positive move and would help the business step up to a new level.
The business operates from three properties and this provides plenty of options for new management, with plenty of spare capacity to accommodate growth.
The current owner has actually been with the business since it started over 50 years ago. By his own admission the vendor would agree the business would probably benefit from a new injection of energy and business acumen to increase future revenues. The current pricing policy is due an update which could certainly increase new revenues.
New owners may well find opportunities for future expansion by exercising a more proactive marketing strategy.
The area in which the business operates has seen its population grow over the years. This trend is continuing as the area is benefiting from further development.
There are two High Street offices (in neighboring towns) both with their own reception area, offices, chapels of rest (one has one chapel the other has two), preparation and storage areas (inc. cold stores), together with toilets etc. The third site is non High Street and this is where the main preparation work is done, as well as where the vehicles are stored internally. This third site also has a chapel of rest, offices, kitchen, toilets etc. as well as workshop area.
We are advised all properties are leasehold.
The vendor works full time in the business. He also has two full time drivers/office staff who can multi-task. In addition to this the vendor has a pool of trusted and experienced sub-contractors whom he can call upon as and when is necessary. This team is highly experienced and should help to make a smooth transition of ownership possible.
The current owner will provide a full handover and will offer any support possible to a new owner to ensure that the business continues to prosper. He may also be prepared to stay on in a consultative role for a further period subject to negotiation.
After working in the business for over 50 years, the current owner is keen to now enjoy his well-earned retirement. However he is prepared you stay on for a further period if need be to provide a seamless transition of ownership.
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 email@example.comTurner Butler Disclosure Statement
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