Leasehold Garage In Walsall West Midlands 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 £160,000 with a net profit of £40,000. (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 wishes to retire.
• An easily run operation.
• Good loyal well trained staff.
• A good first time buyers business.
• Property has options to extend.

Phoenix Business Transfer Agents are delighted to place onto the market this thriving garage which has been established since 1995. The business has been in the hands of the current owner since 1995 and he now wishes to sell due to retirement.

This very good business opportunity provides high quality car repair and servicing, tyres, exhausts, and is a Citroen specialist.

The concern employs 2 staff. Both are full time. The full time mechanic is paid £300 per week and the trainee is paid £140. All staff would stay on after a sale.

The owners’ role is very hands on and he works full time

The owner markets the business in the yellow pages and has a website with good SEO.

As far as competition is concerned there are a lot of local garages.

The client base consists of both commercial and private 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 opening hours to include all day Saturday.
• Increasing the service line to include an MOT bay to the rear
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.

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.

Property Details
The property is terraced and consists of a commercial workshop and the ground floor of a residential premise. The workshop has shutters and has a ramp and large working area.

To the side of the premises is an office and store room

Equipment with sale
All fixtures and fittings and equipment are included in the sale price and are valued at £10,000.

First Floor
On the first floor there is accommodation which is presently rented..

External
To the front there is a parking area.
To the rear there is a large garden which has options to expand to provide an MOT bay.

Financial Details
The present turnover is £160,000 per annum with a gross profit of 50% and a net profit of £40,000. The wages are £22,860. The present value of the stock is £3,000 and the fixtures fittings and equipment are worth £10,000.
The potential turnover of the business within the next 2 years is forecast to reach £250,000 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.

Trading Hours
The business operates from Monday to Friday between 9am and 5.30 pm. On Saturdays the hours are 9am to 1pm.

Tenure
The length of the lease is negotiable as the property is owned by the owner of the business. The rent is £10,000 pa with a review every 3 years. The rates are £1,000.

Viewings
The owners are available for viewings at anytime by prior arrangement.

Property information

Property:

Leasehold

Lease terms:

The length of the lease is negotiable as the property is owned by the owner of the business. The rent is £10,000 pa with a review every 3 years. The rates are £1,000.

Location:

This superb business opportunity is situated in Walsall in the West Midlands .It is on a main arterial road and enjoys much traffic flow and there is a good foot flow of pedestrians. 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.
The area attracts many shoppers who use the area on a daily basis and there are many local facilities including banks and many other retailers. There are also busy industrial estates nearby. There is also a very large hospital opposite.
The location is well linked with the M5 and the railway station close by. The business has clientele from within a 10 mile radius. The locale offers a good lifestyle opportunity.

Premises details:

On the first floor there is accommodation which is presently rented..The property is terraced and consists of a commercial workshop and the ground floor of a residential premise. The workshop has shutters and has a ramp and large working area.

To the side of the premises is an office and store room

Other information

Competition / Market:

As far as competition is concerned there are a lot of local garages.

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:

retirement.

Trading hours:

The business operates from Monday to Friday between 9am and 5.30 pm. On Saturdays the hours are 9am to 1pm.