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Businesses For Sale > Business For Sale in North East, UNITED KINGDOM - UK (UK)

AM163-North East-£670,000-Very Profitable Motor Vehicle Business for sale in North East, UK

North East, UNITED KINGDOM - UK (UK)

Asking Price: Gross: Cash Flow:
£ 670,000 £ 3,006,000 Undisclosed

Business Summary:
Very Profitable Motor Vehicle Business specialising in sub-prime finance based Used Car Sales Ref.AM163 Location:North East Asking Price:£670,000 This well established and highly reputable vehicle business has been established some 25 years, and during that time has built up an enviable reputation in the North East region. The business provides exceptional value for money and a reliable trustworthy range of vehicle offerings, be it car sales, car hire, van sales/hire or minibus rental.The business operates from one high profile site. The majority of current revenues are generated via used car sales (circa 90 %). The business has carved out a niche in the sub-prime market by specialising in offering “Guaranteed Car Finance” and enjoys high levels of referrals and repeat business due to this.In addition to the car sales, the business operation offers complementary services including car hire, van and minibus hire as well as motorhome hire, mainly on a B2B/commercial basis. Whilst this only accounts for some 10% of current revenues (mainly due to the fact that the used car sales business is expanding at a rapid rate) it is still a valuable part of the business. Hire customers include schools, colleges and universities as well as public sector bodies, many of whom have contract hire agreements in place for ongoing use, (approx. 30 cars and 15 mini-buses in the hire fleet and expanding!). The company has enjoyed very good growth over recent years and the business has quickly become one of the largest independent used car sales and vehicle hire companies in the North East.Even though the business specialises in the economy/sub-prime sector of the used vehicle market, it provides a full safety check on all cars to give customer peace of mind. It can also provide very comprehensive warranty packages with all vehicles and tailor them to meet customer specific requirements, if need be. It is this level of customer care that really does separate the business from other operators who work in this sector of the motor trade.The business trades from a prominent location with superb facilities, including own workshop and highly visible forecourt frontage. The site is a real asset of this business. Many existing customers have been loyal to the business since the beginning and recommend friends and family. This has been due in no small part to the business’s competitive prices, finance, quality products, service and attention to detail. The site can accommodate some 70-80 cars and commercial vehicles on the forecourt, which ensures there is always a good choice of vehicles for customers to view. There is good access and the forecourt is viewer friendly with no pushy sales techniques. The site has good signage and is highly visible from the road. The vendor has invested in the business premises over recent years and it carries out its own workshop servicing.The business is being sold on a leasehold basis. We are advised the freehold may be available in the future.

 

   
Year Business was Established: 1990
   
Number of Employees: 3  
   
Facilities / Terms of Lease: The business operates from ideal premises comprising garage, forecourt offices and sales area. The site is available on a leasehold basis. Rent will be circa £2,800/per month. There may be an opportunity to purchase the freehold in the future.  
   
Potential Growth/Expansion: The business has enjoyed very impressive levels of business to date and this trend is expected to continue, despite the tough economic times. The site has spare capacity and the customer base (both commercial and retail) is growing due to referrals, the brand, website, new advertising campaigns and word of mouth recommendations. At time of going to market the business is enjoying rapid growth in the sub-prime financed used car sales market. It is currently selling some 18 cars a week and achieving gross profit margins(circa 30% plus).  
   
Competition: The business advertises in the local/regional press, which is highly effective. It also carries out significant radio advertising and more recently TV adverts, both of which are proving to be highly successful. The highly informative website showcases current car stock and hire options, as well as finance details. The business benefits from being situated in a high profile position giving strong brand awareness.  
   
Owner willing to train: The vendor will provide full training and support to ensure a seamless transition of ownership and continued trading. This should be a relatively simple process.  
   
Reason for selling: Genuine retirement sale.  
   
Seller Reference Number: AM163
BusinessMart.com Listing Number: 206407
 

 

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For more info contact:

Andrew Hudson

Turner Butler
01895 25 6000

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