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Manufacturer of Tailored Seat Covers for Commercial Vehicles

Ref. GM013

Location : Surrey

Asking Price : £199,000

Turnover : £184,000

Net Profit : £90,000

Gross Profit : £137,000

EBITDA : Undeclared

Net Asset : £10,000

Premises : Leasehold

Confidentially offered for sale


  • Turner Butler

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Asking price includes:

Turnover circa: £184,000 per annum
Gross Profit circa: £137,000 per annum
Adjusted Net Profit circa: £90,000 per annum
Net Assets circa: £10,000

Extremely well established business
High percentage of repeat customers
Technical knowledge and expertise
Website with excellent SEO position
Fully accredited & guaranteed
Growth opportunity
Sage Accounting
Website

Business Profile

This well-established customised seat cover manufacturing company has been successfully trading since 2010 and was founded by the vendor. He saw an opportunity in the market to develop a new business from one started by the vendor’s Father and in which the vendor learned the necessary details for creating a successful business of this sort, with long term prospects and the highest quality of product and customer service.

A family run business manufacturing “prestige” van seat covers with personalisation. Supplemented by a range of tailored van floor mats.

Operating in the growing Commercial Vehicle sector all seat covers are fully tailored to fit the seats of each model allowing full use of all normal seat functions.

Traditional tailoring methods are used in a modest sewing facility that is totally portable.

The bespoke embroidery service creates a product that is saleable direct to consumers and trade customers with huge potential for growth.

Each cover is expertly designed to allow full use of seat belts, headrests and armrests and superior to baggy or slippery universal covers. These covers are manufactured on a customised basis to ensure an excellent fit and from durable grey or black water resistant fabric, available for most popular UK models. Covers are also machine washable.

The business has been profitable from inception and has essentially kept trading even with the competition that is now there in this market. It has established an excellent name and has a good relationship with its customers.

The business is managed by the vendor and one other and as such is an excellent opportunity to acquire a very profitable small business with an excellent opportunity for growth or would make an excellent strategic addition to a complementary business.

Equipment:

The company has invested in a good level of plant and equipment in order to manufacture high quality products, including a brother 6x colour embroidery unit and 5x industrial sewing machines.

The business utilises Sage accounting software to run the administrative functions of the business.

Customer Service:

The customer service is excellent and comprehensive information & helpful advice for all products and services is available for any enquiries.

Key Strengths:

• Honesty and Integrity
• Wide range of templates & patterns
• Problem solving
• Reputation and detail
• Commercial and domestic customer base
• Complete turnkey operation
• Good level of plant and equipment

Key Opportunities:

There is a lot of work to be gained. The business would benefit from a new owner with more energy to explore currently unexploited opportunities. A more proactive approach to sales and marketing could further increase revenues in the future.

Investing in the business through people and equipment would enable a new owner to exploit the trading situation where currently, demand exceeds supply.

Financial Information:

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: £184,000 per annum
Gross Profit circa: £137,000 per annum
Adjusted Net Profit circa: £90,000 per annum
Net Assets circa: £10,000

Asking Price:

The Asking Price of £199,000 is for 100% of the issued capital of the company, assuming Net Assets of circa £10,000 on completion (calculated on a zero cash-zero debt basis). The final selling price will have a £1 for £1 adjustment for any rise or fall in this benchmark Net Asset figure of £10,000 at completion.

Advertising and Marketing:

The business does little in the way of advertising and marketing and uses Ebay as a primary lead & sales source.

The business has an excellent company website that presents the high quality and diversity of products and services on offer.

Premises:

The business runs from modern premises, the lease ends in December 2017 and a new lease is available if required.

The premises comprise of one unit on a modern industrial estate with ready access to main trunk roads. The operating are is circa 1,000 square feet and includes an office, storage, toilet facilities and manufacturing area.

Business Hours:

Monday – Friday: 9:00am – 6:00 pm

Employees:

The owner runs the business ably supported by 1x other staff member. Both the vendor and this member of staff do not intend to remain with the business after completion of a transaction.

Support and Training:

The vendor is willing to negotiate a suitable time for training or handover to ensure a successful transaction.

Reason for Sale:

Genuine retirement.

Looking for finance ?

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 25 7777
info@turnerbutler.co.uk
www.turnerbutler.co.uk