In 2006, after over 30 years in Corporate Life, I started trawling Business For Sale Websites and liaising with Brokers looking for a business to purchase to give me a new challenge, autonomy and a steady reliable income.
After 18 months I’d found nothing that ticked the boxes until in October 2007 I stumbled across the Business I purchased in January 2008 and have been running successfully to this day. I’m now, at the age of 61, looking to retire, passing the business on to a worthy purchaser with the energy, commitment, common sense and management ability to take it to a new level.
I had no experience in the field but, over 9 years, annual turnover has grown from £250k to £650k with cash generated (before tax, depreciation and drawings) rising to between £120k and £135k per annum. The business has given me a good living as well as paying off my purchase loan, gaining Capital value and keeping me active and challenged.
The business is commercial contracting for the private and public sector in Central, Southern England. At its core are fixed term and rolling contracts with over 100 customers that deliver revenue for 12 months of the year. Additional revenues are generated by one off works and projects and additional works for contract customers.
There is a loyal team of 8 full time staff, 7 involved in operational delivery and one administrator who also does the accounts.
The business is based in a rented purpose built unit in a rural location near Swindon. There is space to house all equipment except vehicles under cover and also it provides a spacious upstairs office and staff room/kitchen. The site is well positioned as a central base for the area served. It is affordable and good value and benefits from being adjacent to many synergistic businesses. The business could, however, be readily relocated locally without financial penalty should a purchaser own or wish to purchase a nearby property with sufficient outbuildings and space.
The current realisable asset value of vehicles and equipment is in the region of £140k and I would expect around £80k for goodwill making an overall price of £220k. High on my priorities, however, is the right purchaser who will, in my opinion, best guarantee business continuation for the on-going security of the staff team who have assisted me so much over the years.
Probably best suited purchasers would be a solvent individual or couple with managerial experience and ability who like the outdoors and don’t mind getting their hands dirty. Possibly those exiting ‘Corporate Life’ like myself when I purchased.
Other possibilities would be farmers or contractors looking to diversify (if local with existing facilities the cost base could be significantly reduced, further enhancing profitability).
If you would like to know more please email Barry Smith at ‘email@example.com’, giving as much information as you can about yourself/yourselves, your circumstances, background and what you’re looking for.