* Included in Asking Price
Very Profitable Motor Vehicle Business specialising in sub-prime finance based
Used Car Sales
Location North East England
Asking Price £ 670,000
Asking price: OIRO £670,000
(Inc. stock circa £500,000)
This well established and highly reputable vehicle business has been established some 25 years, and during that time has built up an enviable reputation in the North East region. The business provides exceptional value for money and a reliable trustworthy range of vehicle offerings, be it car sales, car hire, van sales/hire or minibus rental.
The business operates from one high profile site. The majority of current revenues are generated via used car sales (circa 90 %). The business has carved out a niche in the sub-prime market by specialising in offering “Guaranteed Car Finance” and enjoys high levels of referrals and repeat business due to this.
In addition to the car sales, the business operation offers complementary services including car hire, van and minibus hire as well as motorhome hire, mainly on a B2B/commercial basis. Whilst this only accounts for some 10% of current revenues (mainly due to the fact that the used car sales business is expanding at a rapid rate) it is still a valuable part of the business. Hire customers include schools, colleges and universities as well as public sector bodies, many of whom have contract hire agreements in place for ongoing use, (approx. 30 cars and 15 mini-buses in the hire fleet and expanding!).
The company has enjoyed very good growth over recent years and the business has quickly become one of the largest independent used car sales and vehicle hire companies in the North East.
Even though the business specialises in the economy/sub-prime sector of the used vehicle market, it provides a full safety check on all cars to give customer peace of mind. It can also provide very comprehensive warranty packages with all vehicles and tailor them to meet customer specific requirements, if need be
|Facilities:||The business operates from ideal premises comprising garage, forecourt offices and sales area. The site is available on a leasehold basis. Rent will be circa £2,800/per month. There may be an opportunity to purchase the freehold in the future|
|Competition:||The business advertises in the local/regional press, which is highly effective. It also carries out significant radio advertising and more recently TV adverts, both of which are proving to be highly successful.
The highly informative website showcases current car stock and hire options, as well as finance details. The business benefits from being situated in a high profile position giving strong brand awareness.|
|Growth Potential:||The business has enjoyed very impressive levels of business to date and this trend is expected to continue, despite the tough economic times. The site has spare capacity and the customer base (both commercial and retail) is growing due to referrals, the brand, website, new advertising campaigns and word of mouth recommendations.
At time of going to market the business is enjoying rapid growth in the sub-prime financed used car sales market. It is currently selling some 18 cars a week and achieving gross profit margins(circa 30% plus).|
|Training/Support:||The vendor will provide full training and support to ensure a seamless transition of ownership and continued trading. This should be a relatively simple process.|
|Sale Reason:||Genuine retirement sale.|
Seller Reference #AM163
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