CoGoGo welcomes to the market Major Tyres. The tyre garage was originally established by our client in 1993. The business is well-run and boasts an enviable reputation. Our client is now looking to sell the garage, due to the desire to take a well-deserved retirement.
The business runs as a tyre and exhaust replace specialist. They also offer other services such as diagnostics, brakes, batteries, services and repairs. The garage also supply and service commercial and agricultural tyres, a popular service in this town with the ample industrial businesses and farms.
Major Tyres generated an advised turnover of circa £400,000 as of the 2023 accounts, with a gross profit of nearly 50%. This is a healthy turnover; however, we feel there is scope to massively increase this figure. We feel that by extending opening hours and opening Sundays, this would maximise the amount of custom each week.
Fakenham is currently undergoing a large housing development. There are 900 new homes being built in the town, this will increase the population by 20%. Targeting these customers with a leaflet drop could allow for more trade. Introducing a business website and taking full advantage of free social media sites such as Facebook should be something the purchaser considers.
This is a fantastic opportunity for a purchaser with experience in the trade. The business is well-established and boasts an excellent client base. CoGoGo highly advise early viewing to take in the full potential of the trade.
Financial Profile
Major Tyres generated an advised turnover of circa £400,000 as of the 2023 accounts, with a gross profit of nearly 50%.