Bar/ Shop Fitting Operation For Sale

Business description

Established over twenty years ago, this family business, based in Kent, is one of the leading shopfitters in the South East offering a comprehensive, nationwide service to a wide range of loyal customers. Originally established as a barfitting operation with a very impressive Client list within the licensed trade, through its excellent work this business was taken into the retail sector by a satisfied Client and has never looked back – now working across both sectors. Amongst its current Client list this business can boast some of the biggest and best-known High Street retail names. Working primarily in the London and South East and mainly in Kent, Sussex and Surrey this business has been called upon to work in all parts of the UK.
This business closed down its workshop three years ago and now operates in more of a Project Management role sub-contracting all aspects of a project through a very well established portfolio of highly skilled and reliable suppliers representing the full range of shopfitting and building trades. From structural building work, through to floor laying, plumbing, heating, electricals, glazing, signage, decorating and even carpet fitting this business can and does handle every requirement of a complete project.
This business is committed to providing its Clients with the highest standards of workmanship available within the industry, operating a strict quality control policy based on the very high standards of the Owner, which, together with efficient scheduling of work enables it to offer the very best service whilst still remaining highly competitive. This business is used to working to the strictest deadlines and never fails to complete its projects on time.
Ever mindful that any slip in its standards will be harmful to an excellent reputation built up over twenty years of operation this business limits its commitments to a single project at any one time. However with a reputation for successful project completion on time and on budget there is a constant demand for the services of this business resulting in the business frequently resorting to over pricing tenders in order to prevent it from becoming overstretched.
With turnover projected to be in the region of £400,000 for the current financial year – a performance consistent with several previous years, and gross margins of approximately 30% this represents an excellent opportunity to acquire a leading business within its sector and one with excellent growth prospects.

Property information

Location:

With over twenty years of successful operation this business not surprisingly benefits significantly for the most cost effective form of advertising: word of mouth recommendation arising from the excellent reputation this business has built up over the many years of its operation.
This business does very little advertising, not even featuring in Yellow Pages, however it very effectively utilises boards in the windows of the sites in which it is working advertising its role in the refurbishment of the premises.
This business has procured a very appropriate URL, however has yet to develop a web-site which could become a very good showcase for the projects it has completed in the past.

Other information

Expansion potential:

There is significant additional demand for the services of this business even within its existing customer base. Limited by the conservatism of the current Owner, this business currently undertakes projects on a ‘one at a time’ basis. Consequently this business, which enjoys a 1 in 2 success rate on negotiated tenders frequently over prices projects in order to stay within manageable limits, whilst still maintaining its excellent Client relationships. Additional resources particularly within the Estimating and Project Management areas would rectify this situation with a significant positive impact on turnover and profitability.
Having completed a number of projects successfully for Clients, this business is increasingly being called upon to move into the facilities management sector – particularly for retail Clients which require a fast response to emergency requirements - glazing and door replacement for example, as well as more straightforward and planned maintenance requirements. With the limited management resources available within the business these opportunities are currently being overlooked. It is conservatively estimated that simply from within the current Client list turnover could double.
Plant and equipment:
Operating mainly through sub-contractors this business has very little plant and equipment – limited to a few power tools - choosing to hire in any specialist equipment for delivery on site as required.
There are two owned liveried vans.

Competition / Market:

With over twenty years of successful operation this business not surprisingly benefits significantly for the most cost effective form of advertising: word of mouth recommendation arising from the excellent reputation this business has built up over the many years of its operation. This business does very little advertising, not even featuring in Yellow Pages, however it very effectively utilises boards in the windows of the sites in which it is working advertising its role in the refurbishment of the premises. This business has procured a very appropriate URL, however has yet to develop a web-site which could become a very good showcase for the projects it has completed in the past.

Support & training:

The Owner will provide full business familiarisation, training and handover up to a period of three months subject to negotiation.

Reasons for selling:

Having worked within the joinery sector throughout his career and formed this business in the early eighties, the current Owner who has recently suffered ill health wishes to develop and pursue other interests.