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Finance And Services:

Sold. British Sports Car Manufacturer With Service, Restoration & Original Parts Supply

LISTING DETAILS
Firms For Sale ID:
35023
Vendor reference:
GN014
Vendor website:
     
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BUSINESS DETAILS
Location:
Primary sector:
Secondary sector:
Asking price:
£500,000  
Turnover / revenue:
£260,000
Net profit / cashflow:
Undisclosed
Years established:
59
Trading hours:
Monday, Tuesday, Thursday Friday: 08:30 am - 5:30 pm Saturday: Closed Sunday: Closed
Number of employees:
3
Employees / staffing:
The vendor is responsible for all day-today management, operations and business administration and also employs: 2x Full-time engineers 1x Part-time book keeper

OTHER DETAILS
Reason for selling:
The vendor has decided to retire and that it is in the best interests of the Brand to sell the business to a new owner who has the resources and ability to take it through its next logical growth stage.
Support and training:
The owner is happy to provide training for an agreed handover period.
Business is relocatable:
No
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
Lease terms:
The business operates from secure office and workshop premises on a discrete, rural location, in a building, of circa 3,000 square feet to include: office area, workshop, mezzanine, storage and kitchen & toilet facilities. The premises benefit from a comprehensive security system with alarm and CCTV cameras protecting people, premises and goods. The premises are currently leasehold with an informal arrangement regarding duration and rent reviews. Annual rent and rates are circa £13,000 per annum.
 
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BUSINESS DESCRIPTION
Well known British Sports Car Manufacturer with Service, Restoration & Original Parts Supply
A British brand and Le Mans entrant
Ref. GN014
Location : Wiltshire
Asking Price : O.I.R.O. £500,000
This enduring business and automotive brand name was founded in the early 1960ís as a low volume motor car manufacturer and has had a typically British history, including changing company ownership, racing success, brand re-launches and popularity among enthusiastic niche buyers around the world; it is now part of the UKís sports car heritage.
After many attempts to invest in new models and new brand awareness by new owners, the current version of the company was established by the vendor in 1999 to supply authentic parts to the community of owners around the world and to provide restoration and repair services for the brand.
Later, the vendor acquired all moulds, jigs and drawings for the brand and intellectual property with the exception of the companyís registered trademark, which is understood to be due for renewal in 2022. There is currently no other brand or promotional activity seen to be engaged upon by other entities and a new model under the brand has not been launched since 2010.
This opportunity includes an exclusive right for the manufacture & supply of authentic parts and spares, or indeed the production of whole vehicles. The company owns every drawing for every car produced, promotional imagery, moulds and jigs; the site also has full service and repair facilities; a paint facility is available off-site on an as-and-when basis. Original vehicles are often sought, restored and sold from the premises, in as-new condition.
As well as this sports car marque specialism, the company by virtue of a commonality of engine use in the Rover V8, supplies new parts, spares and provides service and repair services for Land Rover cars. These two areas of business are well integrated in the one company.
After many years of ambitious imaginings, magazine articles, TV appearances and speculation about the future, the business and brand has benefitted from the vendorís down to earth and methodological approach to the fundamentals of the business and a concentration on meeting the current demand from customers and owners seeking expert servicing, parts, repair or restoration and the business is now on a firm financial footing; profitable, with a positive financial outlook for the company, a future that is limited only by a new ownerís desire to grow the brand.
The business benefits from its direct and historical relationship with such a well developed brand, which is a great asset but is nevertheless not performing at its maximum potential. All operations are streamlined with low overheads.

Expansion Potential
The business operates very much within the scope of the vendorís self-imposed limits and could grow rapidly by expanding the brand by means of a determined investment in marketing, advertising, sponsorship and typical brand building techniques.

With this commitment it would then be possible to extend the range of branded products and include merchandising opportunities and product development.

Market / Competition / Non-Competition Agreements
The business does not advertise but does have an informative website which details the current services provided, brand history and customer stories.