Established Car Sales & Repairs Business In Harrow For Sale

Business description

The particular highlights of the business are:
• Ideally located concern offering excellent lifestyle.
• A well established business.
• Good loyal clientele which is the result of a very good reputation.
• Fully equipped business with favorable lease terms (see below).
• A business with great potential which has not been exploited because the owner wishes to retire.
• An easily run operation.
• Good loyal well trained staff.
• A good first time buyers business.

Phoenix Business Transfer Agents are delighted to place onto the market this well known car sales and repairs garage which has been established since 1979. The business has been in the hands of the current owner since 1979 and he now wishes to sell due to retirement.

This very good business opportunity provides used cars for the middle market. The business also has a repairs and servicing section from which MOTs are arranged.

The concern employs 3 staff. 3 are full time and 0 are part time. The total wage bill is ££52,000 per annum. All staff would stay on after a sale although redundancy payments can be met if required.

The owner’s role is full time and he deals with the car sales side of the concern.

The owner markets the business in local papers and on the internet.

As far as competition is concerned there are no other car sales businesses in the area.

The client base consists of locals and within a 10 mile radius.

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Reduce the prices of the vehicles and sell more.
• With the introduction of a website and e-commerce.

The owner would be available for a business familiarisation period of one week for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.
Financial Details
The present turnover is £547,771 per annum with a gross profit of £135,956 and a net profit of ££8,608 and the business was affected by the credit crunch. The wages are £52,000 per annum. The present value of the stock is £120,000 which can be sold by the owner if the purchasers wish to use their own stock and the fixtures fittings and equipment are worth £10,000.
In 2007, the turnover was £629,567. The potential turnover of the business within the next 2 years is forecast to reach £1 Million given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.

Property information

Property:

Leasehold

Lease terms:

There is 3.5 years remaining on the lease. The rent is £22,950 pa. The rates are £9,300 pa.

Leasehold rent:

£22,950 per annum

Location:

This superb business opportunity is situated in Harrow in the County o f Middlesex. It is on a main arterial road and enjoys much traffic flow and there is a good foot flow of pedestrians. There is a residential area surrounding the property and it is within a commercially thriving part of the area. There is ample free parking nearby.
The area attracts many shoppers who use the area on a daily basis and there are many local facilities including banks and many other retailers.
The location is very prominent and close to traffic lights.

Premises details:

The property is terraced and is part of a parade of shops and is approximately 50ft x 90 ft. The showroom is divided into two parts with a well presented and covered area. There are cars displayed outside and to the rear there is an office. Further to the rear are a workshop and a car cleaning area.

Other information

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Reduce the prices of the vehicles and sell more.
• With the introduction of a website and e-commerce.

Competition / Market:

As far as competition is concerned there are no other car sales businesses in the area.

Support & training:

The owner would be available for a business familiarisation period of one week for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Trading hours:

The business operates from Monday to Friday between 9am and 6 pm. On Saturdays the hours are 9am to 5pm and on Sundays between 10.30am and 4.30pm.

Furniture / Fixtures value:

£10,000

Inventory / Stock value:

£120,000