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Fri, Jan 27 2023 05:25:24 AM  |  /

Installation & Warranty Support & Repair Business.

Commercial Id:000786     |    Reference: AD030
Price:
£545,000.00
Commercial Description

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, Sony, Samsung, Panasonic, LG, Domestic & General, and 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. The business is currently benefitting from increasing local demand due to the Right-to-Repair legislation and TV programmes such as the Repair Shop.

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 the only such repairer in their territory, having taken on the business of the local competitors.

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 a mobile app on their smartphones for parts & invoicing purposes. The software system has been developed by the owner and is licensed to the Company.

There are a total of 16 employees, nine of whom are home based technicians and are dotted around the region. Each one has a branded van and undertakes up to 12 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 five administration staff taking calls, arranging home visits, maintaining the diary and ordering / receiving spare parts.

This is a great business for someone wanting to buy a business with minimal day to day involvement.  It would also make an ideal bolt-on or satellite operation to another facilities management 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£20,000 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 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.

The business is a Which Trusted Trader.

Employees:

The vendor is the Director and Financial Controller of the company.

A general manager runs the day to day operations.

The technicians and admin staff are all employees, the business makes minimal use of sub-contract labour to meet peaks in demand. Each technician has a branded van and undertakes up to 12 calls per day.  Two of the technicians are workshop based and four admin staff make up the workforce.

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

All of the TV technicians have passed the City & Guilds course and are up to date with the latest electronic technologies. Safety is of paramount importance and each technician carries a full complement of electrical testing equipment.

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 if required.

Financial Information:

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.

All business systems, including accounting, are cloud based and can be managed from any location. VAT reporting is on a cash basis.

Net assets are circa £92k on a zero cash 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£165,000 and Net Assets are c£92,000 on a cash free basis.

Based on YTD trading the projected EBITDA for the current year is c£180,000.

Reason for Sale:

Retirement

Support and Training:

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

 

 
Commercial Information
Is this commercial relocatable: No
Commercial Sector: Workshop & Retail space
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Business Profile
Equipment: na
Key strengths: na
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Financial performance: na
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Rent Frequency: Per annum
Advertising and Marketing: na
Growth and Expansion: na
Premises: na
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Employees: na
Support and Training: na

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