Business for sale in United Kingdom – North West London – City of London – Gp189-major uk mini cab company offering uk airport transfer services-north west london

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Business for sale in United Kingdom - Gp189-major uk mini cab company offering uk airport transfer services-north west london

Asking Price: 2,500,000 £ Real Estate: Lease
Sales Revenue: 1,500,000 £
Net Profit: 400,000 £
Year Established: 1985
Employees: 20FT
# of family members employed: Not Disclosed
Location criteria:
United Kingdom/City of London/North West London

Business types:

Transportation & Warehousing

Business categories:

Other Transportation

Business description

this sizeable and profitable private hire mini-cab firm has its roots in 1985, when the vendor originally established as a sole trader. He took the company limited in 1988, and has grown over the years to become one of the most respected and well known firms in london. With a focus on airport traffic, the company is the name of choice for thousands of private individuals and hundreds of corporate employees per month. With over 120 drivers on the road in london, a fleet of owned vehicles, and an impressive back-office, the business can handle dozens of bookings per hour, 24 hours a day, 7 days a week. The business went through a re-structuring in 2009, and moved to the present premises which comprising a large service garage with mot test bay, and operational offices on the 1st floor. The business can handle all tasks under one roof, and keep the fleet of vehicles on the road for maximum return. The garage business is run as a separate entity, providing added revenue streams. The vendor is looking to sell the overall operation as a going concern, and will include the freehold property if that is of interest to new owners. The business is registered with the pco, gained full iso9001 accreditation in 2008, and is a 5 star approved member of the licensed private car hire association. Over 90% of clients are business professionals, with between 400-600 regular european travelers who use the business weekly or monthly. Clients are either private individuals or from corporate accounts, with the current split around 30% corporate customers. The client base, trade name, and team of long-serving and respected staff in place, this sizeable operation provides a stable and high level of on-going revenue, which offers great opportunities for return on investment and future growth potential. Equipment: the company utilises a state of the art “cordic” integrated back office system provided, which handles all bookings, real-time vehicle tracking, customer records and financial information. This is directly linked to the extensive phone system, and is operated from the server across 10 pc’s in the office. Credit card payments are handled by a barclays system and can be accepted over the phone or via an on-line bookings service. The garage equipment includes, but is not limited to, 4 x 2-post ramps, 1 x 4 post lift and a mot bay with scissor lift. Air-conditioning re-charging, and diagnostics machines to handle most makes and models. The business operates with a fleet of company owned vehicles, alongside the self-employed owner drivers. The fleet currently includes around 30 well maintained vehicles, none of which are more than 4 years old. Including office equipment and technology, garage plant & machinery and the fleet of the vehicles, the assets are conservatively valued at approximately £500,000. Customer service: the vendor of the business has focused on a professional service from the outset, which has been instilled across the team. This results in many repeat bookings, with regular travelers calling the office each time they need an airport transfer. This professional approach also appeals to the larger corporate client, who are confident in the capacity and flexibility of the company making sure a professional and well presented driver is on-site to schedule. This approach has resulted in the business growing into one of the dominant companies in the area, and numerous blue-chip corporate clients, including airlines, pharmaceutical companies, defence contractors and multi-national retailers. Key strengths: the lengthy trading history, with the same easy to remember well known trade name and contact numbers are obviously great assets to the business. This trading history has built an extensive client base over the decades which results in exceptional levels of on-going trade, and stable levels of weekly revenue. The size of the operation and capacity allows the business great deals of flexibility in operations which guarantees customers the high level of punctual service they are used to. The garage has a car wash facility, and all mechanical requirements are handled in-house, the business can bring in vehicles twice per week for an inspection, and meet all mot, repair and service needs in a cost effective and timely manner. This maintenance side to the operation also has opportunities for additional revenue. Growth and expansion opportunities: the maintenance garage has primarily been utilised for in-house services thus far. This could easily be expanded to private customers by marketing and promotion of the facility to local customers. The business is still growing, with many new corporate clients expected to sign-up with the firm over the coming months. With further corporate promotion, and marketing to the existing customer database, the business is well position for further growth over the coming years.

Additional information

Additional information: Not Disclosed
Support & training: The vendor is agreeable to a period of training and handover for the successful transition of the business to new ownership.
Reasons for selling: The vendor is looking to enjoy a different work life balance with his young family
Financing available: Not Disclosed
Inventory / Stock value: Not Disclosed

Real Estate

Ownership: no
Lease: yes
Lease terms: Currently the premises are rented back to the company from the vendor for approximately £50,000 per annum. Payable business rates are around £15,000.
Location: The business is operated from a Freehold property, owned by the vendor, which is valued at circa £1.2 million. Currently the premises are rented back to the company from the vendor for approximately £50,000 per annum. Payable business rates are around £15,000. In total, the business occupies circa 11,000 sq ft, with a large maintenance garage on the ground floor, reception and toilets. On the 1st floor is the main dispatch office, with separate management offices for the Directors and Administration of the business.

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