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Supplier of Embroidered and Printed Workwear/Uniforms, Personal Protection Equipment, Safety Footwear & Safety Signs

Ref. IC016

Location : West Yorkshire

Asking Price : £100,000 Plus Stock

Turnover : £303,000

Net Profit : £45,000

Gross Profit : £136,000

EBITDA : Undeclared

Net Asset : £50,000

Premises : Leasehold

Confidentially offered for sale


  • Turner Butler

Next Step, Please submit Confidentiality Form/NDA Online 

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Asking Price: £100,000 Plus Stock at Valuation

Asking price includes:

Gross Turnover circa £303,000 per annum
Gross Profit circa £136,000 per annum
High quality stock
Fully equipped high profile store
Prestigious blue chip customer base
Full turnkey solution
Training and handover
Low overheads
Website/Catalogues
Goodwill

Introduction:

Turner Butler has been appointed to invite offers of purchase for this established and highly reputable workwear/uniform outlet that has excellent infrastructure (inc. online website, catalogues etc.), highly desirable customer base and a strong local presence.

Business Profile

This well established family business was set up by the current owner some 9 years ago and is now regarded as one of the region’s leading suppliers of Workwear, Uniforms, (including PPE and promotional), Safety footwear, and basic equipment and consumables to a broad range of commercial and retail clients.

Whether it’s full uniforms fully embroidered or printed Polo shirts, footwear, safety wear and wet weather wear, PPE products or the latest in work wear, this is the place to come. The company has access to a full in-house print and embroidery service that utilises the latest technology to provide rapid high quality turnaround.

This business is literally a ‘one stop shop’ for all sectors of UK industry and can count on large ‘blue chip’ corporates and Public and Local authorities amongst its customer base. The business has literally hundreds of regular customers with a very good spread in terms of size and sector.
Operating from a prime retail location in the town the business is ideally placed with easy access to and from the national road network.

The company promotes good quality brands and has a good range of stock readily available. The business sources from both stockists and importers. If product isn’t readily available this business will source it! All of the staff are knowledgeable, professional and pride themselves on delivery. Not just limited by what’s available on the database, or in the catalogues, the ability to source anything from anywhere is ingrained in all staff and the cornerstone of the success of this business.

Nowhere is this dedication to customer service better exemplified than in its increasingly important sales of uniforms and workwear. Offering a complete workwear service – from sourcing right through to delivery of the finished item, this business is often called upon to personalize designs, tailor-making them, whether it’s the design itself or simply the logo to the most exacting of customer requirements. From Hi-Viz jackets to safety boots, polo shirts to coveralls this business offers a comprehensive, quality work wear range at highly competitive prices.

With annual turnover for this site in the region of £300,000 this is a very successful and profitable business with good positive cash flows.

Equipment:

The business has its own bespoke database. Sage ACT and stock control software so that it can carry out its duties efficiently. It utilises the in-house embroidery and printing facilities its sister site owns to provide a full turnkey solution to its clients. The vendor is happy to continue this successful service with the new owners.

Key strengths:

With a bespoke CRM database and unique sales techniques this business is one of the region’s leading suppliers to industry specialising in uniforms, PPE and workwear. The stock carried by this business is both extensive in its range and depth. However it is the ability of the business to source what its customers require, speedily and cost effectively which has helped it establish an enviable reputation in the marketplace. It is this personal level of service that sets this business aside.

Customers are always offered helpful and friendly service from the experienced staff, resulting in a high percentage of repeat business. Its excellent location with easy access to a major motorway encourages personal visits especially from some of the smaller customers keen to pick up the necessary equipment on the way to a job. This very successful business features a constantly growing base of satisfied clientele and accounts.
There is constant high demand for its products and accessories, leading to a consistently strong financial performance, making this Company an exceptional investment opportunity.

Key Opportunities:

Having achieved impressive growth since it was established the business has built up an excellent reputation within the surrounding area. There is plenty of scope for expansion within the existing market as the company has very strong supplier relationships that ensure they offer the most up to date in demand products to clients.

Advertising could see an increase in contracts and revenues and this would support the company to build on their reputation and profits. Turnover and revenues could also be significantly increased by increasing and developing their customer database and portfolio as well as increasing their internet presence.

The company could expand further by increasing sales within the Janitorial Supplies, Leisure and Promotional industries. It would make an ideal bolt on to companies already in these or similar spaces.

Financial performance:

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 of circa £303,000 per annum last financial year.
Resultant gross profits circa £136,000 per annum (45%).
Operating profit prior to upward adjustments was circa £45,000 p.a.

Equally impressive figures have been posted over previous years as the business enjoys high levels of repeat business from its loyal blue chip customer base.

There is huge potential to develop this business further. As already mentioned, the vendor is pretty much reactive in their approach to business these days and there is huge scope to maximise additional opportunities that exist within its current customer base and beyond.

Asking Price:

The Asking Price of £100,000 plus stock (typical stock holding circa £50,000) is for the goodwill and assets of the business on a cash free debt basis.

Advertising and Marketing:

The business does very little in the way of self-promotion and marketing, preferring to rely on repeat business and referrals to generate sales. However it does have its own catalogues and website. There is huge scope to increase its exposure should a new owner so require.

Growth and Expansion:

The market for workwear is growing. It is becoming more and more important for companies and their staff to portray the correct corporate image. This market is also supported through legislation in the way of health and safety and this presents ongoing opportunities to the business in the short, medium and long term, such is its wide and varied client base.

Premises:

The business operates from leasehold premises with excellent access to the road network. The business has excellent frontage boasting a triple fronted prime retail location on a busy main road with large footfall. Current Rent is circa £16,000 p.a.

Business Hours:

Mon – Fri - 8 – 5pm
Sat – 9am – 12

Employees:

1 x Director- full time
1 x Shop assistant / Delivery driver – full time
2 x Shop assistant (part time)

The business is relatively simple to run as the owner has invested in the back-office systems and infrastructure of the site over the years. Staffs are fully conversant with the systems so they can multi-task and complete a variety of tasks.

Support and Training:

The current owner would be happy to provide full training and support at handover and may be prepared to stay on for a further period should a new owner so require subject to negotiation.

Next steps:

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.

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