Business Summary:
Broker of Ex-Formula 1 Cars and Parts
Ref.AM141
Location Fully Relocatable
Asking Price £375,000
Established in 1989, this business specialises in the marketing and sales of Ex Formula 1 and Formula 3000 vehicles. A single Formula 1 car will be advertised for anything up to £399,000.A list of clients including film companies, business owners, entrepreneurs, executives and bankers from around the world have become a lucrative network and have been the bedrock of the business for the last twenty years.
The business has developed long lasting relationships with several Formula 1 teams over the years and they are happy to release their stock of vehicles to the business. It is worth noting that a large percentage of Formula 1 vehicles are actually destroyed by the manufacturers to protect the technology. From time to time over the years, the business has negotiated to buy several vehicles and parts simultaneously from a race team and these deals have proven to be particularly profitable. Many deals are negotiated on a sale or return basis. A number of vehicles have been ‘bought back’ by the business from past clients and again this has delivered healthy margins.
In addition to vehicle sales, the business also supplies parts. Engines alone can be marketed at anything up to £60,000. Clothing and accessories are sold via online shop fronts such as eBay. The business also rents out vehicles for corporate functions at circa £1,000 per day.
The business uses a private race track in France that provides both another hire revenue stream and a fantastic method of marketing to potential clients.
Although the owner of the business has a very impressive phone book listing several high profile clients, new customers continue to source Formula One vehicles and the company’s website has been optimised and is currently very easy to find via major search engines.
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