Profitable Residential & Commercial Plumbing Contractor For Sale

Business description

This profitable business began trading in 2001 providing a high quality domestic plumbing service for residential and institutional properties in Essex. The business is managed by a husband and wife team operating from their home. They now wish to sell in order to emigrate.

The business was incorporated in 2006 and at about this time came the opportunity to work in Central London on luxury property refurbishment. This soon led to other prestige work in the area, including public sector work. Today around 60% of sales are to the commercial sector with the balance being domestic.

The husband is an experienced, qualified plumber who manages the sales and operational side of the business. The wife looks after administration and accounts on a part-time basis. There is 1 employed plumber at present, with subcontractors used as and when required.

In the year ended November 2008, the turnover was £280,500 with an Operating Profit of £112,000. Taking into account the level of drawings the adjusted Operating Profit was in excess of £75,000. The results for 2008/2009 are expected to be broadly similar despite the economic environment albeit a doubtful debt may impact profitability on a once-off basis. There is good potential to increase the turnover as the economy recovers.

The Guide Price for this business is £127,500 for 100% of the share capital on a ‘debt-free, cash-free’ basis. The vendors will stay on, on terms to be agreed, to assist with the smooth transition of the company to new ownership for up to 6 months.

This business will be of interest to existing plumbing businesses, trained plumbers who wish to own their own business and M&E providers with the capability to support larger contracts.