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Award-Winning Glazing and Home Improvement Business for Sale

 Undisclosed

CONFIDENTIAL SALE

  • Status

    FOR SALE

  • Date Submitted:

    24/04/24

  • Advert ID

    610283

  • Reference

    B07551 / Rightbiz

  • Call Agent:

    Registered members »

  • Turnover: Not Applicable
  • Net Profit: Not Applicable

Business Details

Glazing and Home Improvement Specialists

Business
Please quote reference number B07551.

The company specialises in double glazing, door supply and installation, and single-storey extensions, catering primarily to the private sector and domestic customers in the Northwest region.

Founded in the 1970s, this award-winning glazing specialist boasts a proven track record of market leadership in the domestic and commercial sectors across the North West. Catering primarily to the private sector and domestic customers, the company boasts the widest range of windows, doors, and single-storey extensions within the area.

The company also owns its own newly renovated and well-located showroom that is expected to lead to increased customer conversion, while development underway at the adjacent unit presents another opportunity for revenue generation.

Current leadership has driven impressive growth through product diversification and thoughtful strategic planning, turning over some £2.4m in 2022. Recent company developments include the planned development of CRM software for marketing targeted at existing customers.

The company’s major points of differentiation include:

  • Product leadership. Boasting one of the largest product portfolios in the industry, the company offers a comprehensive range of windows, doors, extensions, and home improvement solutions. Utilising the latest technology and specifications, the company stays ahead of industry trends.
  • Competitive pricing. Committed to affordability, the company delivers competitive pricing across its product lines with a price match guarantee, while financing options further enhance accessibility.
  • Longevity and customer peace of mind. The company offers the industry’s leading insurance-backed guarantee, while 45 years of continuous operations testify to unmatched longevity and expertise in the industry.
  • Strategic partnerships. Partnerships with exclusive brands grant access to top-tier products.
Certifications/licences include the Assure Certification for Fenestration, an FCA-registered Consumer Credit Licence, and a Good Business Charter Accreditation. The company is also a founding member of the DGCOS (Double Glazing & Conservatory Ombudsman Scheme).

 Financial profile

 The company’s most recent quarterly results (October 2023 – March 2024) demonstrate impressive financial momentum. Turnover for this period reached £1,170,280.46, representing a significant increase of £141,717 (13.75%) compared to the same period in the previous fiscal year (October 2022 – March 2023). Gross profit for the October 2023 – March 2024 period also experienced a positive year-over-year increase of 11.36%. Furthermore, net profit witnessed a remarkable 323% increase, reaching £123,157.23. This substantial rise in net profit of £85,039.07 compared to the same period last year underscores the company's efficient cost management and improving bottom line.

According to an external analysis by Plimsoll, the company is performing well above the industry average in terms of sales growth, gross profit margin, and efficiency (sales per employee). Gross profit margin sat at 33.1% in the latest year, compared to the industry average of 12.9%, while sales grew by 21.2%, compared to the industry average of 12.9%.

Market health

The company has proved remarkably resilient in the face of industry-wide headwinds (inflation, interest rates, energy increases) impacting the home improvement and construction sectors. Turnover in 2023 contracted by only 11% on their record year, significantly less than the contraction seen by other industry players.

The wider outlook for the glazing market looks bright, as Net Zero policies drive demand for energy-efficient A-Rated Plus products. Research by the Glass and Glazing Federation has, for example, found that 80 million windows in the UK would benefit from immediate replacement.

 Outlook for 2024

The full-year sales target for 2024 is set at £2,563,740. Achieving this objective is anticipated to generate an additional £137,000 in gross profit. This, in turn, is expected to significantly enhance operating profit, further bolstered by ongoing liability reduction efforts.

Using the record-breaking performance of 2022 as a baseline, targets for 2024 represent a moderate 5% organic growth. These targets also factor in seasonal fluctuations, holidays, and potential weather impacts to ensure achievability.

 Other gains for prospective buyers

  • Self-sufficient business model. Bolstered by a tenured team of estimators, surveyors and installers, the company operates with clearly defined Key Performance Indicators (KPIs) and a robust Customer Relationship Management (CRM) system, minimizing the day-to-day involvement required from shareholders.
  • Large database of customers. New owners will inherit the business’ large database of 10,000 existing customers and 13,700 prospective customers.
Highlights -

  • Market-leading specialists in domestic and commercial glazing;
  • Newly renovated, well-situated showroom in the Northwest;
  • Points of differentiations include product leadership, competitive pricing, longevity and customer peace of mind, and strategic partnerships with brands;
  • Impressive financial profile with significant revenue growth and improving bottom line in recent years;
  • Resilient business model due to effective strategic planning;
  • Self-sufficient business model with limited day-to-day shareholder involvement, and a tenured team of estimators, surveyors and installers;
  • Promising growth prospects.
Opportunities - 

  • Scope to make further efficiencies, reducing long-term and short-term liabilities and increasing profitability;
  • Targeted marketing of existing customers via the newly developed CRM software;
  • Expanded portfolio of products and services;
  • Expanded footprint in the regional glazing market.


Location
Based in the North West.



Premises
The business operates from a fully equipped industrial unit.



Tenure
The business premises are Freehold.



Hours
The business trades all year round.



Staff
The business has a team of 12 staff members.



Financial Profile
Turnover in excess of £2.1m in 2023.

  • 100% share capital.
  • Interested parties will be required to sign an NDA.


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Stay Safe

Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.

Stay Safe

The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.

Stay Safe

Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.

Stay Safe

Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.

Stay Safe

Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.

Stay Safe

Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.

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