CoGoGo welcomes to the market this Engineering supply company, which has been established for more than 26 years and is very well known in the area.
The business provides a service to anyone who makes, breaks or repairs something. They supply anything from nuts and bolts, fasteners and fixings to adhesive, hand tools to safety wear and everything in between.
They supply both the trade and the general public, having several trade contracts within the area.
The business is well known within this industry as a reliable and trusted supplier of good quality products at competitive prices and the business has built up a very large customer base in an ideal location.
Providing an array of engineering supplies to clients such as Mechanics, Carpenters, maintenance teams and schools, the business is continually growing and developing to meet customer needs. They can also be found on Facebook with great reviews.
The owner has been slowing down over the last few years due to impending retirement, however the business has massive potential for the future and could easily be taken to the next level by:
• Increased advertising and social media presence
• A good quality website
• Longer hours and in particular by taking on staff to increase the delivery side of the business. (The owner has extensive experience of this as he used to have 12 vans on the road and is happy to impart this knowledge to the ingoing purchaser, so they can take this forward if desired)
• Make full use of the ample first floor space.
An internal inspection, to speak to the owner and understand the potential moving forward is a must for this highly profitable business.
Financial Profile
The business turned over £96,000 for the year to 31st December 2019 with a gross profit of £63,000. The turnover in 2016 was £108,233 and in 2015 it was £131,073.
The turnover has reduced during this period due to the owners impending retirement.
According to the VOA website the current rateable value is £17,000, with rates payable of £8,700 per annum.