Natural Gas Heating Engineers – North Devon Premium Advert

Undisclosed, Devon
Asking Price:
£70,000
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
196524
Reference
DC2253 / RightBiz

Details

LOCATION:
The business is conveniently located to serve clients in Barnstaple, Bideford, Braunton and Torrington together with those villages in between and nearby benefiting from a mains gas supply.

BUSINESS:
This long established, highly regarded and consistently successful family owned natural gas heating business is offered for sale for the first time in more than 30 years due to the retirement planning of the vendors and represents a rare opportunity for a qualified natural gas engineer to acquire their first business, or for a larger firm to secure a valuable and profitable client base in the most densely populated part of North Devon.

The business serves the domestic market only with clients concentrated in a relatively tight geographical area which policy has been developed deliberately to minimise travelling time in the more rural and less populous areas of North Devon using LPG or oil based heating systems. Very well organized and run, there is very little in the way of weekend or evening work required.

A substantial and detailed client base is held with between 2,500 and 3,000 considered active and in receipt of regular mailings for annual servicing. We understand that approximately 40% of income is derived from new domestic installations and 45% from scheduled servicing, the balance from breakdown work.

New business comes largely by way of referral and recommendation in view of the excellent reputation for service, quality and reliability that has been built up over many years and little regular advertising has been done in recent years beyond a small number of local publications and maintenance of the website which continues to produce regular enquiries for work. LPG work is turned aside on a regular basis and represents an opportunity to grow the business further if the new owner wishes to expand the offering or is already operating in that field.

Operating from conveniently located premises, rented flexibly on an annual agreement which meets the needs of the current owners, the business is eminently suitable to be run from home or merged with an existing operator and as such the business is offered for relocation. This would keep costs down and further enhance profitability.

Run by a small, but very experienced, team supported by one self-employed fitter as required for larger domestic installations, the vendors are willing to stay on in a part-time capacity if desired by the new owners.

Two vans are available by separate negotiation.

This is a rare opportunity to acquire a sensibly priced, long established and well-structured business that is highly regarded by its clients and which operates in a beautiful part of the country. A close inspection is strongly recommended.

YEARS ESTABLISHED:
The business commenced trading in 1983.

TRADE:
Please note that if a business is VAT registered, all figures exclude VAT.
Annual sales have averaged in excess of £140,000 in the 3 year period ending on 30 September 2016 and current year performance is on track to achieve this again.

More detailed financial information will be made available to interested parties upon completion of a form of confidentiality agreement and following a brief discussion with Adams & Co regarding background, reason for interest, financial position and ability to proceed.

REASON FOR SALE:
Retirement planning, although the vendors have no desire to stop work completely and would be prepared to work on a part time basis for the new owners if desired.

STAFF:
The business is family run with the full-time involvement of two directors; one works as a natural gas engineer, the other handling all administrative duties. The directors are assisted by one full time employed natural gas engineer and one self-employed engineer is called on as required to assist with larger installations.

OPENING HOURS:
The office phone is manned from 8.00am to 5.30pm Monday to Friday with emergency calls taken on Saturday mornings.

All installation, servicing and repair works are undertaken in normal business hours and, other than as highlighted, no evening or weekend work is required.

BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
The business is considered eminently suitable to be run from home and is offered for relocation.

Currently operated from conveniently located, rented commercial premises, subject to an annual agreement without an automatic right of renewal in favour of the tenant and with rent of £500 per month, these comprise a former two bedroom flat with fitted kitchen and full bathroom, the reception room at the front of the property being used as the main office. It is assumed that the landlord would be content to offer a similar agreement to the buyer if desired.

Listing Details
Annual Rent: £70,000
Tenure: Other
Sector: Plumbing And Heating Businesses
Financials
Annual Turnover: £140,000
Annual Net Profit: Available upon request
Key Features
  • Price Reduced
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