Roofing And Building Company In South London For Sale

Business description

Twenty year established roofing and building company located in South London that has an excellent reputation for quality work and customer satisfaction. Most work is self generated or by word of mouth reputation. Operated by the owner and five office staff that act as field service managers and or estimators. This company has grown from one employee to as much as sixty employees and currently has twenty multi trade sub contractors that work for the company exclusively. Seller has scaled the business back from 2.5 million pounds to about 1 million pounds due to the economy and his health. Seller is looking to retire but is willing to stay and work for the buyer for as long as it takes to hand over the reins etc. This is a cash driven business and carries very little payable or receivables. The business operates on a very low bank overdraft and has to finance most of its work in the secondary money markets at much higher interest rates. Profitability is very high and should be much higher if more working capital was available. The ideal owner of this business would be an existing building company that already has the infrastructure and can merge this business into its existing overhead, or an individual that has some working capital or banking relationships and would like a solid established proven working model that will give him or her a sound living. Eighty percent of the business customers pays cash on completion of the work. All the skills are in place and a buyer does not have to be either a builder or a roofer but a business operator to reap what it has taken the seller twenty years to build up. Type of work under taken is single family roofs, loft conversions, complete house renovations, remodeling, flat roofing of all kinds, Local council roofing, Home owners associations, Listed properties and multi owned three or four story homes. The business is fully equipped with vehicles and all equipment needed and a great web site. All advertising is in place along with an established yellow page telephone number.

Property information

Location:

South London. Blackheath, Lee Green, Bromley, Greenwich, Lewisham, Woolwich, Docklands, Bexleyheath and the south side of London up to the West End of the City.

Premises details:

Rented premises that are in Lee Green and consist of a self contained unit on the ground floor for storage and the offices above.
Storage is about 1000 s/f and the office space about 1200 S/Feet.

Other information

Expansion potential:

This company can greatly increase its gross turn over and profits with a better banking facility or with a buyer that has the working capital. The good profitable work is available, tradesmen are available and the home renovation market is better now than ever with the house market being depressed, more home owners are staying in their present homes and remodeling rather than selling in a down market.

Competition / Market:

The length of time the seller has been in business and the guarantees that have been given and honored have earned him a good name in the area. The manner that he operates by not taking money up front as is the policy of most competitors or cowboys has gained this company a trusted name in the area that it serves. The standard of work and the manner that this company trades make it hard for competitors to take work from them on a level playing field, but competitors will always be out there.

Support & training:

Seller will stay as long as required to hand over the company or will work for the business if a suitable financial arrangement is worked out. To operate this business you need to have business skills. The employees that will stay with the business are familiar with the operation and will assist a new owner to understand the operations.

Reasons for selling:

Seller has some health issues this year and has to go into hospital for some small procedures so he is looking at exiting the business in case things get any worse.

Trading hours:

7:00 to 5:00 Five days.

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

The business has been priced for a quick cash sale but the seller may look at some financing to buyer with a good credit standing.

Furniture / Fixtures value:

£75,000

Inventory / Stock value:

£5,000 (included in the asking price)