High Quality Leasehold Garage Newbury Berks For Sale

Business description

The particular highlights of the business are:
• The owner may be prepared to accept staggered payments for the business, enabling the buyer to pay from profits although a lump sum sale would be more favorably considered.
• Ideally located concern offering excellent lifestyle.
• A well established business.
• Good loyal clientele.
• Fully equipped business with favorable lease terms (see below).
• Turnover in excess of £400,000 with a net profit of £50,000 plus to a managing owner. (See financial summary below). This is very impressive considering the credit crunch.
• A business with great potential which has not been exploited because the owner has other business interests.
• An easily run operation.
• Good loyal well trained staff.
• A good first time buyers business.

Phoenix Business Transfer Agents are delighted to place onto the market this thriving garage which has been established since 1999. The business has been in the hands of the current owner since 1999 and he now wishes to sell due to other business interests.

This very good business opportunity provides a quality servicing, tyres and exhausts to all makes of vehicles. The charging rate is £55 per hour. There are also 2 MOT bays.

The concern employs 3 staff. 3 are full time and 0 are part time. The total wage bill is £88,000 pa including a salary to the owner.
The owners’ role is administrative and he works full time.

The owner markets the business in local papers, Thomsons and via Bosch which offers excellent exposure and has a website.

As far as competition is concerned there is very little local competition within this market.

The client base consists of approximately 9,000 local and loyal clients.

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the marketing to include corporate and commercial clients.
• Becoming more efficient with staffing levels. A hands on owner will make more profits.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.

The owner would be available for a business familiarisation period of one week for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Financial Details
The present turnover is £400,000 per annum with a gross profit of 69% and a net profit of £45,000. The wages are £48,000. The present value of the stock is £500 and the fixtures fittings and equipment are worth £50,000.
In 2008, the turnover was £400,000. The potential turnover of the business within the next 2 years is forecast to reach £500,000 given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 12 years with 9 years remaining. The rent is £38,000 pa.

Location:

This superb business opportunity is situated in Newbury in the County o f Berkshire. It is just off a main arterial road and enjoys much traffic flow. There is a residential area surrounding the property and it is within a commercially thriving part of the area. There is ample free parking nearby. It is part of a large estate which houses many businesses within the car Industry. The town centre lies close by.

The location is well linked with the M4 Motorway and the A34. The business has clientele from within a very large radius. The locale offers a good lifestyle opportunity.

Other information

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the marketing to include corporate and commercial clients.
• Becoming more efficient with staffing levels. A hands on owner will make more profits.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.

Competition / Market:

As far as competition is concerned there is very little local competition within this market.

Support & training:

The owner would be available for a business familiarisation period of one week for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Reasons for selling:

Owner wishes to sell due to other business interests.

Trading hours:

The business operates from Monday to Friday between 8am and 6 pm. On Saturdays the hours are 8am to 1pm and on Sunday it is closed.

Furniture / Fixtures value:

£50,000 (included in the asking price)

Inventory / Stock value:

£500