Asking price: £1,600,000

Sales revenue: £2,100,000

Net profit: Undisclosed

Fixtures value: Undisclosed

Stock value: Undisclosed

Business description
This business was founded in 1996 by the Vendors and has since grown to become a significant enterprise with a turnover in excess of £2million and a reputation for the quality of its products, flexibility of service and reliability.
The business operates from a prime freehold location in Hertfordshire and has established itself as one of the region’s leading independent kitchen suppliers. Many customers have recommended friends and family and this has been due in no small part to the business’s competitive prices, quality products, first class service and attention to detail.
The business has always believed in the pursuit of excellence, constantly reviewing and updating its service commitment and its methods of business, offering a complete service from free planning and design of their modern, contemporary and classic ranges of kitchens. They also offer all leading brands of white goods, worktops and accessories and always ensure that valued customers receive the very best service and quality of product.

The business has shown itself to be resilient in the face of competitive and economic forces and has maintained strong and incremental growth over its 13 years of trading. The business is further supported by exemplary relations with key suppliers who have helped to ensure that whatever the product, service and availability is never compromised and that customers are, as a result, never let down. This commitment to supply chain relationships has underpinned this business’s abilities in product quality and sustained business growth.

No small part in the ability of this business to grow and sustain its profitability is due to the quality of its people. The business has a strong commitment to the development and welfare of its staff; which has contributed, alongside investment in technology, to the excellent profitability of the business and its current position as it is poised to exploit expected and significant new growth in turnover.

Customer Service:

The business manages several customers in any normal week and has the systems, processes and people to ensure that both productivity and customers’ orders are satisfied. The most important aspect of customer management and satisfaction considered by the business is honesty and is responsible for the business retaining many customers and the reputation for which has led to the acquisition of many new customers.
High quality service, with flexibility, honesty, reliability and good value, every order is important and customers always come first. The result is self evident in the business’s sustained level of repeat business.

Key Strengths:

Being small enough to offer a personal service, yet large enough to offer high quality products at competitive prices and a full range of products and styles, the business offers real flexibility that is not available from their smaller or larger competitors.

The business is also an autonomous organisation where the owner has, over time, developed and nurtured a management team capable of overseeing business operations effectively, reducing the need for constant or daily input from the vendors. This has resulted in customer relations founded on a history of trading satisfaction and not contingent upon the presence of the vendor.

Key Opportunities:

This 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, especially in advertising and marketing, will have every advantage of building on an excellent platform.

This operation would be easily replicated, thus offering significant opportunities to expand the business, both geographically and with additional showrooms from the area currently covered to a far more extensive coverage of the affluent areas around London and the Home Counties.

Equipment:

Included in the sale price are all fixtures, fittings and 2 vans, a forklift truck, as well as Sage Accounts, ACT CRM software and 20/20 CAD software.

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.

Sales revenue is circa £2,100,000 per annum with gross profits of circa £965,000 per annum.

Years established: 1996

Employees: An established management structure with no dependence upon the owners is in place together with an experienced, highly skilled and loyal workforce of 25 full time staff. This is a professional and dedicated team. The owner also works on a full time basis.

Trading hours: Monday – Friday 09.00 – 6.00 Saturday / Sunday 10.00 – 4.00

Property: Leasehold

Expansion potential
The owners understand that the business is recognised for its quality of product, brand and choice and has been able to establish itself and capture a significant market share in a highly competitive environment. More assertive marketing and brand investment, could acquire an even larger slice of the market to build this excellent business into an even bigger cash earner. This business is based in an affluent and highly desirable location and could certainly achieve increased sales and profits. The business would ideally suit an existing company or an owner/manager who could build on this Company’s excellent reputation and relationships with both customers and suppliers.

Competition / Market
This business does not believe in wasting customer’s money on unnecessary advertising. Instead they target marketing through offers to customers who introduce new clients, whether they be friends or family. An approach that has had remarkable results thus far, however there are excellent opportunities to increase the advertising and marketing more aggressively and to significantly increase turnover. Currently the company has a website detailing products and services and a history of the business and its successes, which could be updated and there is little doubt that turnover and profits would increase through development of this medium, as it consolidates even further the business’s reputation.

Support & training
The current owner will provide all necessary training and all relevant contacts to allow continuity of trading.

Reasons for selling
The vendor has another business in Croatia which is more lucrative for him and his family.