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Business For Sale. Drain Cleaning, Plumbing & Property Maintenance Company

LISTING DETAILS
Firms For Sale ID:
35135
Vendor reference:
GD121
Vendor website:
     
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BUSINESS DETAILS
Location:
Primary sector:
Secondary sector:
Asking price:
£1,750,000  
Turnover / revenue:
£1,500,000
Net profit / cashflow:
£460,000

OTHER DETAILS
Business is relocatable:
No
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
 
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BUSINESS DESCRIPTION
Business Profile:
Established over 20 years ago this business has been solving Drainage and Plumbing problems for its wide ranging client base in all manner of businesses. It provides immediate drainage and plumbing services, as well as planned and scheduled work.
The business is located in Essex but works primarily in Central London and throughout the Greater London boroughs.
The business undertakes:
This is a family run company which takes enormous pride in its personal service, attention to detail, quality and professionalism, ensuring that the highest standards are maintained throughout the entire duration of a customer’s project; from introduction & enquiry through to completion.

Services are offered on a 24/7 basis the company specialises in emergency call-outs for drainage and plumbing problems. The business manages approximately 50 large and small jobs in any given week.

Plumbers in London

Since 2000, the company has built a reputation as one of the leading and most trusted plumbers that London has to offer, with a team that are fully trained, certified as a Safe Contractor and a meticulous attention to detail.

The dedicated and qualified team carries out all aspects of plumbing, heating and drainage works from installing tap washers through to full re-plumbing.

Company services include:
• Drain Cleaning services
• CCTV Drain Surveys
• Plumbing Work
• Gully Cleaning and Tankers

Key Strengths:

One of the key strengths of this business is its long-standing and loyal customer base.
All its clients are account customers, providing regular planned and reactive work from managing agents and property portfolio owners.

This business has the strongest commitment to customer service and the process for ensuring this begins with those staff receiving enquiries all the way through to project staff; all are suitably qualified.

The infrastructure is in place including staff, facilities, knowledge, experience and accreditations for the ongoing success of this business.

The many strengths of this business include:

• Profitability
• Infrastructure in terms of skills, staff, supply base, policies and accreditations
• Large historical customer base generating high levels of repeat & referral business
• One of the best known businesses of its kind in the region
• Reputation-ongoing recommendations from historical customers and trade suppliers
• Growth pattern and future opportunities in the sectors it serves
• Full turnkey solution
• Long standing relationship with clients
• Reliable
• Competitively priced
• Good service record over 20 years
• Good staff record , clients know the engineers

Growth and Expansion:

The business currently operates within the Greater London area but there is no reason why it cannot further develop its presence throughout the UK should a new owner so require.

It could expand with existing and future clients by offering other trades. And it could attract additional customers through advertising.

It would make an ideal bolt-on to a larger FM business or could be joined to another plumbing business wanting to expand its geographic reach.

This business is ideally positioned to service this growing market as it already has the connections, accreditations and approvals in place and could be scaled up to exploit the many opportunities at its disposal.

Advertising and Marketing:

The business enjoys high levels of repeat business, word of mouth recommendations and referrals from happy historical customers. It carries out no advertising other than its attractive website.


Employees:

There are three vendors who work in the business on a day to day basis.
Two of them work full time doing quotes, job inspection and managing the employees. The third vendor works part time as the administrator and bookkeeper.

Including two of the vendors there are 12 full time staff plus two part-time staff, one of whom is the third vendor.

Employees include:
2x Part time Office staff
4 x Drainage engineers
3 x Drainage assistants
2 x Multi-traders
1x Operations manager


The business appreciates that its staff are real assets. They are fully conversant with the latest products and installation techniques, not to mention Health and Safety and on-site legislation requirements and manage these factors on a day to day basis.

Premises:

The business is managed from serviced offices of approximately 700 square feet, and externally 3 x allocated parking spaces

The premises are situated on an industrial estate with easy and ready access to London.

Rent: c£2,167 p.m.
Rates: NIL

The business also benefits from 6 x Sign Written vehicles, 4 x owned, 2 x leased and used by vendors.

Financial Information:

The business 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.

The business is financially stable and has enjoyed excellent trading results year on year. This has resulted in a healthy order book and profitability to the owners and this trend is expected to continue in line with growth in the sectors it serves and the company’s reputation going from strength to strength.

Average Turnover for the last two years is £1.5m.

Average Gross Profits circa £850,000 p.a.

Average Adjusted Profit for the last two financial years was circa £460,000 p.a. after imputing the costs to replace all three vendors.

Net Assets circa £250,000 which is mainly cash.

The Asking Price:

The Asking Price is OIRO £1.75 million plus an amount equivalent to the NAV for 100% of the issued capital of the company, Net Assets are estimated to be c£250,000 on completion.

Reason for Sale:

Retirement.

Support and Training:

The vendors are happy to provide a comprehensive handover to ensure a smooth seamless transition.