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Installation & Warranty Support & Repair Business.

Electronic Appliance servicing for Major Manufacturers, Retailers & Insurers

Run Under Management

Ref. AD030

Location : South West

Asking Price : £225,000

Turnover : £535,000

Net Profit : Undeclared

Gross Profit : Undeclared

EBITDA : £70,000

Net Asset : £84,000

Premises : Leasehold

Confidentially offered for sale


  • Turner Butler

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Asking Price: £225,000 (Net assets of c£84,000)

Turnover is c£535,000
20% growth target for 18 /19
Adjusted EBITDA is c£70,000 after management costs
Projected EBITDA of £80-100,000

Asking price includes:

Fleet of 10 vehicles
Major repair contracts in place
Websites
Goodwill
Fully equipped workshop with ESD management
Range of installation tools for on-site work

Business Profile

This independent family owned Company is the leading business for TV / appliance repair and installation work in the South West. The work is dealing with TV repair & installations and domestic appliance repairs for many major manufacturers, retailers and insurers of electrical goods such as Dixons/Currys, Argos, John Lewis, , Samsung, , Domestic & General, and numerous local independent shops.

The business has numerous repair contracts in place. The contractors pay a fixed price per job for all repair requests that are passed on from the contractor. It also offers chargeable services direct to the public, amounting to 15% of turnover.

If a customer buys an electrical device or appliance and then needs to have it repaired under warranty or extended guarantee, this company does the work on behalf of the retailer/manufacturer/insurer. The business offers an expert repair service for a wide range of different appliances and is are the only such repairers in their territory, having taken on the business of the local competitors recently.

The business operates a centralised call centre which co-ordinates all jobs and operates a bespoke CRM system with web based diaries and work plans, enabling immediate feedback from the field engineers via their smartphones for parts & invoicing purposes.

There are eight technicians who are home based and are dotted around the region. Each employee has a branded van and undertakes 7-10 calls per day. On any given day two or three of the technicians will be workshop based dealing with repairs that cannot be completed in-home. There are a further four administration staff taking calls, arranging home visits, maintaining the diary and ordering / receiving spare parts.

This is a great business for someone wanting to live or re-locate in a beautiful part of the south of the country. It would also make an ideal bolt-on or satellite operation to another repairs and maintenance business that wanted to maximise their call-centre operation.

The business is run entirely under management and the owner merely does the accounts. His role could be replaced for c£ 10,000 per annum.

Customer Service:

The business is passionate about customer service as the key driver underpinning the success of the company along with good, friendly advice and service.

Key Strengths:

Independently owned and unique in the area, this business is renowned for providing a quick and reliable service, offering customers an efficient, worry free, quality service. The vendor has invested in the business to ensure that it stays ahead in the market. The vehicle fleet is in good condition and a 100mb private fibre-optic broadband and cloud based telephone service has just been installed.

Attention to detail, speed of response and a friendly yet professional approach by all the reliable and experienced technicians is a factor for the success of the business.

Financial profile:

The Company 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 operates a cloud based accounting system which is manageable from any location. VAT reporting is on a cash basis.

Net assets are circa £84k on a zero cash, zero debt basis.

Debtors pay in 30-60 days and are all large blue-chip companies. The company operates on a contra basis with most major suppliers, minimising administration and outstanding debts.

The business makes an EBITDA after replacing the owner of c£70,000 and Net Assets are c£84,000 on a cash free debt free basis.

Based on YTD trading the projected EBITDA for the current year is £80-100,000.

Premises:

The Administration function is based in the workshop and is easily relocatable from the current location in a city in Devon. The premises are leased, at a rent of £10,500 pa. The business is re-locatable, as long as a presence in the territory is maintained.

The freehold of the workshop is available by separate negotiation.

Employees:

The vendor is the Director and Financial Controller of the company. A replacement has recently been recruited for the workshop manager who is due to retire in 2019, thereby ensuring continuity for the purchaser.

The technicians and admin staff are all employees, the business does not rely upon sub-contract labour. Each technician has a branded van and undertakes 7-10 calls per day. Two of the technicians are workshop based and 4 admin staff make up the workforce.

The business has enrolled all employees into the NEST pension scheme,

All of the TV technicians passed the new City & Guilds course at BMET University in 2012/3, in anticipation of the networking & WiFi technologies.

Support and Training:

Full support and training will be provided for a negotiated period of time.

Reason for Sale:

Retirement

Looking for finance ?

If you are looking for finance to fund your business purchase then we recommend that you talk with our independent finance broker. Because of his many years working at a senior level for a major high street bank he has had more success with finance applications than anyone else we know. He has helped numerous purchasers of businesses that we are selling, including buyers who have been turned down by their own bank! Call us today on 0800 046 1652 or email us at finance@turnerbutler.co.uk

Turner Butler Disclosure Statement

This statement applies to information relating to any company or other undertaking or business advertised for sale by Turner Butler (a 'Business')

The information supplied by Turner Butler on its website or in any other promotional material ('the Information') is not and is not intended to constitute an offer for sale of the Business or any assets of the Business or of the shares of any company which owns the Business.

For the avoidance of doubt there is no intention to create a legal relationship which will only come into existence when a written contract for sale and purchase of the shares in or the Business has been entered into

The Information provided is not intended to address your particular requirements. Further the Information does not constitute any form of advice recommendation representation endorsement or arrangement by Turner Butler and is not intended to be relied upon in making (or refraining from making) any specific decisions.

Any agreements transactions or other arrangements made between you and any client of Turner Butler are at your sole risk and responsibility. The prospective sellers of the Business have provided the Information to Turner Butler. The Information has not been verified by Turner Butler.

You must carry out your own due diligence and satisfy yourself as to the accuracy of all matters. In the case of the sale of shares in a Business the Information has been prepared on the basis that the shares will consist of or include more than 50% of the voting shares and that both the seller and the buyer is either a body corporate, a partnership, a single individual or a group of connected individuals so as to fall outside the scope of regulated activities as defined by the Financial Services and Markets Act 2000. If you are considering a transaction which falls within the scope of such regulated activities you cannot do so through Turner Butler.

Appropriate professional, legal and accountancy advice should be obtained before making or refraining to make any decision.

Turner Butler does not accept any responsibility or liability for loss or damage of any nature that may occur by reliance on the Information. Neither Turner Butler nor any of our employees or agents makes any representation as to the completeness or accuracy of the Information nor do we accept any liability for any losses, costs, liabilities or expenses which may arise directly or indirectly from your use of, or reliance on the Information.

This document is governed by and shall be construed in accordance with English Law and any dispute arising in connection with it shall be subject to the non-exclusive jurisdiction of the English courts

Turner Butler
Ickenham House, 2-4 High Road, Ickenham, Middlesex, UB10 8LJ
Telephone 01895 25 6000 Facsimile 01895 25 7777
info@turnerbutler.co.uk
www.turnerbutler.co.uk