Importer And Wholesaler Of Fruit Vegetable Meat Shellfish For Sale

Business description

Importer and Wholesaler of Fresh French and Italian Fruit, Vegetable, Meat and Shellfish Produce

The vendor of this large wholesaler has been in the business since a young man working with his father initially in the import and wholesale of a wide range of products from his native Italy. This business has its roots in 2000 when the vendor leased his first unit in a busy and world famous London Market. In the last decade the company has grown in size and built a well known and respected trade name, supplying a wide range of catering customers across the capital and further a field, including some high profile chef’s and prestigious restaurants and eateries. This is in main part due to their confidence in the quality of produce supplied and overall service of the business offered.

The company supplies all high quality produce, mostly from Italy and France, with a product range which includes fresh fruit, vegetables, cured meats, olives, fish and shell-fish. There are also a good range of pre-packed canapés and hors d’oeuvres, which again tend to appeal to the higher end clients of the company. The company is known for always meeting the highest standards, and trading on quality over price while maintaining their competitiveness, this now results in a busy operation running through the night with three full-time delivery vehicles on the road, making between 80-100 deliveries per day.

Over the past 10 years of operation, the business has gained an exceptional reputation. This has meant the client base has grown not only from high levels of daily passing trade, but also by recommendation and referral, with buyers seeking out the company to supply their business long-term. There is the capacity and opportunities to capitalise on the current market presence with minimal impact on overheads, thus directly increasing overall profits under new guidance. The vendor has built a streamlined operation and team of skilled staff to look after all operations in his absence, as such the business is ready for a straightforward transition to new ownership. .

Equipment:

The business is located in a modern unit, and operates three delivery vans along with an electric fork-lift truck for loading and unloading of goods. In the office, there is an integrated telephone system, with server and four personal computers storing client records and financial data. Along with the fixtures and fittings for the storage and display of goods, there is a modern and well maintained cold storage room.

Customer Service:

Over the past decade, customer satisfaction has been the cornerstone to the growth and on-going success of the business. With an attention to detail, and the ability to communicate on a respected level with some of the most demanding customers in catering, the business has built a large database of repeat customers and levels of recommendation that offer confidence in future levels of trade, revenue and profits from which to grow.

Key Strengths:

The trade name and 10 year history is itself a great asset to the business. Due to the size and trading capacity the business has now established, the firm can generate good margins from the produce stocked, and have the ability to pick and choose the highest quality goods from key suppliers. The trust in the business name, and reputation for reliability and quality, means that there are excellent customer relations, particularly with the more discerning and demanded top chefs at some of the most respected restaurants in the country.

The location means that the business can serve a highly populous area of London and further a field from the base, and the facilities are modern and specifically designed for the trade. The company also enjoys one of the largest presences in the market itself, which means customers gravitate towards them as one of the first ports of call.

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.

For the current trading year the Turnover is expected to be circa £2,600,000, with Gross Profit circa £750,000 and Adjusted Net Profit circa £250,000. Plant, Fixtures and Fittings is conservatively valued at around £100,000.

Property information

Property:

Leasehold

Lease terms:

The rent and business rates are around £16,000 per annum inclusive as the property is leased from the Local Authority, with an additional service charge of approximately £21,000 per annum.

Location:

The business currently has a 10 year full renewable lease on a double unit in a busy purpose built major London wholesale market. The majority of the premises is devoted to both cold and dry storage. There is also a management office within the premises and ample designated room at the front and rear entrances for displays of products, which greatly expands the amount of useable retail space available during opening hours.

The rent and business rates are around £16,000 per annum inclusive as the property is leased from the Local Authority, with an additional service charge of approximately £21,000 per annum.

Business Operation

Expansion potential:

The business is primed to expand from a very stable footing. The vendor feels that someone with a fresh level of energy could easily expand the product range in a number of ways. The business also has the capacity to serve a larger client base, and by employing a Sales Manager specifically tasked with business development, the company has the history and recommendation levels to assist with facilitating growth.

Competition / Market:

The business has conducted minimal advertising over the years, with the primary development of new accounts from direct approaches and sales calls along with the high levels of footfall, and the constant stream new enquires via ‘word of mouth’ recommendation and referral. The business receives custom from high-profile and prestigious clients, which assists in the authority of recommendations and building relations with new potential clients.

Reasons for selling:

The vendor is looking to relocate to Italy with his young family.

Employees:

The Vendor is responsible for all business administration and overall management. In support, the company employs full-time a Financial Controller, Invoice Manager, Buyer and 3 Night Managers. There are also 3 full-time Delivery Drivers and a Warehouse Operative. Many of these employees have been with the business for a number of years, and all of whom would look to remain with the company under new ownership

Years established:

2000

Other information

Support & training:

The vendor is happy to agree to a period of handover and training for the successful continuity of business operations.