Asking price: £115,000

Sales revenue: £126,000

Net profit: Undisclosed

Fixtures value: Undisclosed

Stock value: Undisclosed

Business description
This business was established over ten years ago as a specialist Information Technology training company with the aim of providing application software education to members of the business community on the Isle of Man.

The business has been built with an ethos based on integrity, openness and value for money. Most of the courses provided were initially aimed at users of popular, generally Windows based, user applications such as Email, Databases, Spreadsheets, Word processing, Graphics and Web Page design. Technical courses have since been developed, relevant to Windows usage and programming Visual Basic and writing T-SQL.

Some seven years ago the business made a strategic acquisition that has further expanded the number and types of courses being offered including the incorporation of a full, very extensive, range of Human Resource soft skills courses. The principal, generic, areas addressed are management and leadership skills, personal management and communication skills as well as project based training.

In addition the company develops many tailored courses, addressing specific customer needs, incorporating elements of all courses currently available for a large number of organisations both on and off the Isle of Man.

Efforts have been made to ensure that the customer base is truly representative of the Isle of Man business profile. The company is proud to include manufacturing, travel, retail, primary production and service companies in its portfolio of clients as well as the majority of the international finance organisations represented on the Isle of Man.

Equipment:

The business has developed its own suite of highly professional coursework books that have an anticipated copyright value of circa £70,000. In addition to this the business has all the appropriate IT Training aids you would expect from a business involved in IT training.

Customer Service:

The Company aims to provide a unique service to customers, ensuring they receive the highest quality at all times. The business strives to be the most versatile, and customer orientated training company on the Isle of Man by focusing exclusively on training services, catering for all ages and abilities.

As well as its core training the company provides customer care courses and as such fully understands how important client satisfaction is in today’s customer driven environment. Client testimonies and high levels of repeat business as well as referrals fully back up the company ethos of providing high quality yet personal training courses in professional and comfortable surroundings.

Key Strengths:

This business has built up a real presence in the market during a decade of high quality training provision. As part of this it has created a name and to some extent a brand that is very recognisable and respected in the markets it serves. The company has a suite of very high quality teaching material as well as an excellent website that performs very well on the major search engines. The courses and their content are very high quality as are the business premises and facilities. The business has a wide variety of clients from large blue chip organisations to small dynamic companies. Many of the customers have been with the business for several years.

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 currently achieves turnover circa £126,000 per annum with resultant gross profits of circa £85,000. In addition to this the business has developed its own coursework books with an estimated copyright value of circa £70,000. This business represents an ideal lifestyle opportunity to a new owner with a truly reputable brand and model to develop if so required. Alternatively it would provide an excellent acquisition for a company looking to develop its own training services within the unique Isle Of Man market with a company of some 11 years standing.

Employees: The two directors work full time within the business. One director is responsible for the sales and administration, the other being responsible for IT training and technical functions. The business also has a pool of freelance trainers.

Trading hours: Monday-Friday 0900-1730

Property: Leasehold

Lease terms
Current rent is circa £1800 per month inc rates.

Location
The premises are leasehold, renewable on a yearly basis. It is a character property having recently been restored to very high standard providing training rooms for 2 – 60 people in 6 separate rooms. Located in the centre of the Island with easy access, good private parking and local amenities nearby. Current rent is circa £1800 per month inc rates.

The business has previusly applied for a grant to build its own training premises. We are advised the business secured a grant of 40% for build and fixtures and fittings, this is the maximum achievable and should be available to new owners subject to a new application being approved.

The grant is repayable if the company sells the premises within 10 years. The amount repaid is decreasing year by year. After 10 years the Government ceases to have an interest in the building.

Expansion potential
The market for training is vast. Private businesses, the public sector and the EU for that matter are fully committed to providing training to all levels of employee. This business is ideally positioned to benefit from this as it has a very broad ranging customer base including many large blue chip multinationals, not to mention a successful track record and enviable reputation.

Competition / Market
The business advertises in local press and magazines. It also undertakes some direct marketing to clients. The company has a very informative website.

Support & training
The current owners would be happy to provide full training and support at handover and consider staying on for an agreed period therafter subject to negotiation.

Reasons for selling
The vendor has other non-conflicting business interests they wish to pursue.