Total of 18656 firms and businesses for sale today Saturday 27th April 2024
Sold. Highly Profitable Commercial Painters & Decorators Approved
LISTING DETAILS
Firms For Sale ID:
34774
Vendor reference:
GK263
Vendor website:
BUSINESS DETAILS
Location:
Primary sector:
Asking price:
£299,950
Turnover / revenue:
£760,000
Net profit / cashflow:
£160,000
Years established:
35
Number of employees:
19
Employees / staffing:
There are two directors in the business but only one director works in the business and that is more on a strategic level, rather than running the day to day operations.
The business employs a full time office/contracts manager as well as a part time office administrator and a part time quantity surveyor. In addition to this the business employs some 16 painters and decorators (including supervisors and foremen). All staff hold the necessary accreditations and are a real asset of the business.
OTHER DETAILS
Reason for selling:
The vendor is planning his retirement as he wishes to spend more time with family in his property overseas.
Support and training:
The vendor would be happy to provide a comprehensive handover to ensure a seamless transition of ownership. This should be a relatively simply process as the business is simple to run and staff are self-managed.
Business is relocatable:
No
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
Lease terms:
The vendor works from ideal leasehold premises on an industrial estate where it stores equipment, scaffold, ladders etc. The unit is secure and comprises warehouse and offices. Rent is circa GBP 623 per month. The unit is circa 2,000 square feet.
BUSINESS DESCRIPTION
Highly Profitable Commercial Painters & Decorators.
Approved Contractor/Framework with Blue Chip Clients.
Ref.GK263.
Location North Wales.
Asking Price GBP 299,950
This well established commercial painting and decorating firm has been successfully trading for well over 35 years, and in that time has built up a sterling reputation in the North Wales and North West region for providing a high quality, reliable service on a consistent basis.
The company provides both internal and external painting and decorating services (more recently incorporating stripping back services) on a commercial basis. The company has a good number of regular Blue Chip clients (approximately 30) who use their services on a regular basis with many of these highly desirable customers having long tems contracts and Framework Agreements in place, which ensures consistent levels of work moving forward. The company holds Approved Supplier status with pretty much every customer they work with.
Customers include councils, housing associations, NHS Trusts, local authorities, SMEs, national construction companies and housebuilders to name but a few. The company has dealt with many of its customers over a long period of time due to the fact it always meets, and in many cases, exceeds the Key Performance Indicators (KPIs) that are set. Because of this the company benefits from having ongoing agreements in place (typically running for several years), a strong future order book and good visibility of works well in advance, which enables them to plan projects effectively and profitably.
The company has built up a highly skilled and trustworthy team of time served decorators that do not require on the job supervison. All staff, and the company for that matter, have all the necessary paperwork and accreditations to work on site
Expansion Potential
There is no reason why a new owner could not scale the business up to increase sales and profitability still further. The business has all the necessary accreditations and reputation in place to do this.
The vendor enjoys the benefit of having good levels of work in progress and future order book with contracts/frameworks in place, which should last for several more years based on current conditions. The business is very well positioned with several of its customers serving the social housing sector. This sector of the market (particularly in the North Wales region) is seeing strong government funding and this is expected to continue up until 2024.
The company spends very little on marketing, and does not actively search for new business. It is fortunate to be able to be selective about the projects it undertakes. New owners with new injections of energy and desire and with new ideas would be able to secure extra business with a small amount of effort.
Market / Competition / Non-Competition Agreements
As already mentioned the business does very little in the way of marketing preferring to rely on repeat business, referrals and recommendations to generate its sales revenues. It does have a basic yet informative website and also utilises social media but could benefit from a strategic marketing plan should a new owner wish to scale the business up.