| | Executive And Chauffeur Driven Cars Business For Sale | | Seller ref: GP153
Advert ID: 888132 | | | Surrey, United Kingdom | |  | | Financials | |  | | Asking price: | £185,000 | | Sales revenue: | £680,000 |
| | | | Business description | | Executive and Chauffeur Driven Cars specialising in the Corporate market
Established in 1993 and performing consistently well throughout its many years of operation this business has become a significant enterprise with an outstanding reputation for the quality of its vehicles, flexibility of service and reliability; operating 24 hours a day, 365 days of the year.
This business is dedicated to delivering a superior and professional Corporate car service for Clients who range from small companies, blue chip multi-nationals and occasionally, the general public. Offering the ultimate in a luxury chauffeur driven car service, this business provides high quality chauffeur driven vehicles driven by courteous, experienced chauffeurs with its executive travel services in demand across industry, commerce and the private sector. Whether it’s for a meeting in a busy city, the necessity to get to or be picked up from a UK airport, an entertaining evening out, – for the Executives of its Clients or their Clients and customers in turn, or even a wedding, this is the company to contact.
This business can handle the most complicated of itineraries, twenty four hours a day, seven days per week. Operating one of the biggest fleets in its immediate catchment area, this business has a very high standard of vehicle at its disposal - saloons including a number of S Class Mercedes and an Audi A8; multi-passenger vehicles and a mini-bus and coaches, all ensuring this business has a vehicle available to suit all requirements. With a number of long standing relationships in place – with hotels, small companies and multi-nationals, demand can be high particularly at peak times. The vast majority of its jobs are local to this business’s Surrey base, with Heathrow and Gatwick airports amongst its most frequent destinations. Because of its outstanding reputation this business also picks up a proportion of trade work – from other similar organizations operating within its sector but without availability – but only when profitable.
Apart from its luxury transport, this business prides itself on providing the utmost professional and courteous service but perhaps most importantly an attention to detail and a philosophy to meet and exceed its Clients’ expectations. All drivers are ‘suited and booted’, well trained and clearly briefed on their Clients’ requirements – communicated to the business mainly by telephone and e-mail.
With turnover for the financial year ending April 2009 of £678,200 generating gross margins slightly in excess of £350,000 and pre-tax net operating profits of £52,200, this is an excellent acquisition opportunity and should appeal to anyone looking to establish a foothold in the Corporate car market and in particular to an existing operator looking to expand their geographical coverage into the West Surrey area.
Key strengths:
This is a very well managed and easy to run business operating at the upper end of the executive travel market. It is well known within its sector in the area in which it operates. This business offers a very competitive service. It is well established and profitable, with a loyal and growing customer base, retaining a high level of customer loyalty through its preferred supplier status for many of its Clients. Because of its high levels of service, this business frequently wins back customers who are tempted for whatever reason to try elsewhere.
It has an outstanding reputation for professionalism, service, reliability, flexibility, courtesy, efficient booking fulfilment and a willingness to help. It has a wide range of high quality transport – one of, if not the best fleet in the area and reliable personnel. All drivers are well trained, courteous, polite, conscientious, friendly and loyal.
The business operates excellent management systems. It tracks customer satisfaction through regular surveys – and is consistently scored in the high 90’s by its customers. It operates a dual system – a paper based and PC based booking system, using Taximate, to ensure bookings are always fulfilled. Drivers receive their next day bookings the night before ensuring they can plan well ahead.
Key opportunities:
There is an outstanding opportunity to build on the existing services and customer base of this company. With a strong demand for services combined with a capacity to increase turnover, a new owner contributing fresh ideas and investment in resources will have every advantage of building on an excellent platform. It should be very attractive to an existing operator in this sector with an existing infrastructure in place and therefore able to reduce operating costs significantly.
The fleet:
This business has a fleet of ten vehicles offering a variety of options and the flexibility to meet all customer requirements.
The vehicles, the vast majority of which are wholly owned are all frequently serviced and very well maintained and include an Audi A8, an S Class Mercedes, a Chrysler 300, a VW Shuttle and a 16 seater minibus.
Financial information:
The business is offered for sale as a going concern. All financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.
Turnover for the financial year ending April 2009 was approximately £678,000, generating a gross profit of £353,600 and a pre-tax net operating profit of £52,200.
The Asking Price of £185,000 is for a sale of the assets and goodwill in the business including the fleet which is conservatively valued to be in excess of £70,000. |
| | | General information | | | Years established: | 1993 | | Employees: | Four staff including the Owner – three of which are part time, are responsible for the day-to-day operation of the business. The business has a team of approximately 13 drivers – a mix of part and full time, directly employed or self employed – many of which are retirees supplementing their pension. | | Relocatable: | This business can be relocated. |
| | | Property | | | Leasehold | | Lease terms: Rent is £365 per month – but likely to reduce to less than £320 per month when the current arrangement is renewed at the end of October. |
| | | Location | | The business operates from very well suited serviced office premises close to the M3 motorway - ideally located to service its customers’ requirements in the area from Heathrow, Gatwick to the south and south west.
Approximately 800 square feet in all, the self contained offices host three work stations. Rent is £365 per month – but likely to reduce to less than £320 per month when the current arrangement is renewed at the end of October. Based on three month’s notice the business is easily relocatable. |
| | | Competition / Market | | | This business is in the enviable position of never having needed to invest heavily in marketing and advertising to secure business. It has listings in all the standard directories and occasionally undertakes mailshots to the Corporations operating within its catchment area and has trialled telemarketing in the past. It also participates in local community marketing – display advertising in Parish magazines, for example.
The business has a very well designed, informative and easy to navigate website which performs very well in all major search engines for all appropriate search terms however, by far the most effective marketing is strong word of mouth recommendation, testimony to the high levels of customer satisfaction the business enjoys throughout the industry. |
| | | Support & training | | | The current owner will provide all necessary training and all relevant contacts to ensure a smooth transfer of the business to new ownership. |
| | | Reasons for selling | | | This is a genuine retirement sale. |
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