Long established and resilient business
c£800,000 vehicle assets net value
Relocatable, no fixed premises required.
Partial Asset finance available
Demand is outstripping supply for vehicles.
This Licensed London Hackney Carriage Black Cab company has been established for over 40 years and currently owes a fleet of 60 plus black cabs (both diesel and electric). Most of the cabs have been fully paid off and the vehicle asset value is approximately £800,000 after deduction of finance payments owing. The firm owns and hires the taxis to the qualified drivers and provides MOT, repairs, breakdown cover, insurance, licensing, and servicing. The drivers usually stay with the firm on a long-term basis most for 5 years plus and some for more than 10 years. The fleet is being steadily upgraded and is on course to satisfy all requirements relating to the phasing out of diesel vehicles and phasing in of electric vehicles. The Drivers pay weekly for the rental of the vehicle and pay for all fuel costs. Additional income is earned by the business through advertising contracts (£1,000 per taxi per annum). The business has been consistently profitable apart from during COVID (financial accounts impacted years ending March 2021 and March 2022). It has now returned to pre COVID levels of turnover and profitability and offers a new owner a steady and reliable income stream. There is currently a shortage of cabs for the demand from drivers and so future trading is looking very positive so there is a great foundation for expansion. The current owner is happy to offer a handover to help a new owner understand the operations.
Turnover £600,000 fixed assets c £1,000,000
