Cornwall Highly Profitable Used Car Dealership For Sale

Business description

This company was established in 1991 and over the years has established itself as one of the leading used car retailers in the region. Over the last eighteen years it has built up an enviable database of customers who not only use the service and MOT facility but also source their vehicles from the business. Because the company has been trading for so long they can boast of supplying several generations of whole families many of who have introduced their friends and associates to the dealership.

The sales operation sells around two hundred and ten used vehicles a year covering all client requirements from £3000 cars to £25,000 luxury vehicles. On average the operation holds around thirty-five well presented cars and stock is sourced from local franchised dealers, on line auction houses and known and trusted traders. The business is an approved buyer for BMW and Audi ex company cars. They are also a buyer of Motability vehicles

Every vehicle is prepared for sale on site by the in house valetor. Any refurbishment or service requirements are catered for in the large and well equipped work shop that also has a small paint shop facility.

Financial Information:

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

The business enjoys a combined turnover (workshop and sales) of around £1,700,000. Net profits remain stable at £151,000. Present 2009 economics conditions have not impacted on this business due to the strength of the client base.

Property information

Property:

Leasehold

Lease terms:

The leasehold premises are available on a three year rolling lease for an annual rent of £45,000 and cover a total of circa 12,000 square feet.

Location:

The leasehold premises are available on a three year rolling lease for an annual rent of £45,000 and cover a total of circa 12,000 square feet. They are well located on a major trunk road into the City with heavy passing traffic.

The premises consist of a forecourt, reception area, two car showrooms and seven offices, a kitchen and two toilets. The large workshop has one four poster and four two poster ramps. Alongside the MOT bay is a body shop with spray room and paint mixing machine plus tyre fitting, balancing and tracking equipment. There is ample room for the valeting bay.
There is a small parts department that is well supported by a local motor factors, which is close to hand.

Business Operation

Competition / Market:

The operation advertises in the local papers and on the Autotrader website. Key to their success is the amount of attention paid to farming the database which has twenty five years worth of customer information in its archives. Customers are sent out service reminders every six months and annual MOT notification. This not only keeps the workshops busy but also helps to maintain a relationship with the sales department.

Reasons for selling:

After a long and successful career the senior partner has decided to take early retirement.

Employees:

Two partners One receptionist Three time served fitters One panel beater and sprayer One part time valetor This is a very stable team of employees with all staff having been with the business for at least ten years.

Years established:

1991