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| Financials |
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| Asking price: | £295,000 | | Sales revenue: | £1,000,000 |
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| Business description |
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The company was originally established in the nineteen eighties and has been providing general bus services to the local communities since that time. During this period it has become the largest company in the county carrying out this kind of service work.
Over the years it has established excellent relationships with four different county councils and has a number of written contracts to supply bus services on sixteen seperate routes. These important and highly prized contracts vary in length from two to five years giving excellent long term forecasting and commercial stability.
In order to fulfill the contracts the company has been granted fifteen PSV licenses that would be a valuable asset to any purchaser.
The company runs a total of twenty buses. There are five new Plaxton’s, one Octare and one Mercedes all with capacity of up to twenty nine seats. The remaining fourteen vehicles are a variety of makes and include buses up to ten years old.
Most of the day to day maintenance is carried out at the company’s comprehensive workshop with the statutary six weekly checks being contracted out to ensure absolute commercial integrity.
Equipment:
The business has a fully fitted workshop with mobile hydraulic lifts.
It also has the pre requiste ticket machines. They record their daily schedules and customer through put. This audit is passed to the councils they work for to validate takings and calculate compensation for those passengers with OAP bus passes.
Banking is simplified with a cash counting machine.
Key Strengths:
Well established with a reputation for quality, service and reliability.
Turnover of around one million pounds.
Excellent local authority long-term contracts.
Valuable PSV licenses.
Well-maintained fleet.
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 generates a revenue stream of around one million pounds. Due to the very significant amount of depreciation created by the high value fleet of vehicles the company does not record a profit. All accounting information will be made available on request and subject to the approval of the vendor. |
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| General information |
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| Employees: | Two directors One Company secretary Twenty-four full time drivers Two time served mechanics |
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| Property |
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| Leasehold | | Lease terms: The company presently pays a monthly rental of £800:00 to the directors who own the building privately. A purchase or lease arrangement could be negotiated as part of the sale. |
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| Location |
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| The site covers approximately a quarter of one acre and has been valued at around £500,000. The premises consist of a fully equipped workshop, a suite of offices and a four bed roomed flat that is the private residence of the directors. The company presently pays a monthly rental of £800:00 to the directors who own the building privately. A purchase or lease arrangement could be negotiated as part of the sale. |
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| Competition / Market |
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| The company does not advertise |
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| Support & training |
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| A comprehensive handover will be made available to the purchaser for a period to be agreed as part of the overall negotiations. |
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| Reasons for selling |
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| After a long and successful career the directors would like to take partial retirement and pursue other commercial interests. |
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