IT / Telecoms businesses for sale in City of London

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Imran Ahmed (Nov 2014)
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Asking price: £192,000 Sale Agreed Turnover: £97,301 Gross Profit: £62,845
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Business Description
BUSINESS
Hilton Smythe is delighted to welcome to the market Vyper Networks Ltd. This Cloud IT Support business was established by our client in 2003. The owner is now looking to sell the business due to the desire to focus on other business interests.

 

The business is an IT support company for small to medium businesses. They also offer a perfect mix of recurring revenue services, including: backup, hosting, email, and antivirus/ antispam solutions.  Our client also advises his clients with new and upcoming technology which would best suit them and their business. This allows companies to grow and budget for the future.

 

The support company currently offers its services to over 100 clients with around 25 core clients. The top 20 clients are all on a 12 month managed service contract for PC/Network Support. There has been no advertising whatsoever.

There is a huge opportunity to grow the business further by offering further recurring revenue services to existing customers and some advertising to gain new clients.

 

It would be a bonus if the new owner was to continue running the business from the London area; our client does visit businesses if required i.e. if there is no possibility of fixing the problem remotely. Over 95% of the work can be completed remotely with just an Internet connection.

 

According to the 2015 accounts, the business currently generates an advised turnover of around £97,301 per annum with a healthy gross profit of approximately 65% from on average 15 hours per week work. Approximately £34k of this profit is from recurring annual renewal of services requiring very little work.

 

The business has a website www.vypernetworks.co.uk which provides further information about what services the business has to offer. The website is included in the sale.

 

Our client runs this highly systemised business from home and works whenever required. This support company would be a perfect opportunity for a purchaser looking for a home based business or as a bolt on addition to a similar IT company.

The owner would be happy to offer a handover period to the purchaser; to allow for a smooth transaction. We advise any potential buyers interested in this business, to contact Hilton Smythe.

 

LOCATION
Vyper Networks Ltd is currently run from our client’s home in Wimborne, Dorset.

 

This is a relocatable business, however, it would be ideal for the purchaser to run the business from the London area, due to current clientele. The business does have a virtual address in London for post and telephone calls, which comes with small annual cost.

TENURE
We are advised this is a business only opportunity.

HOURS
The business is open flexible hours, to suit our client.

Our client currently does 10-15 hours per week.

STAFF
The business is run and managed by our client.

FINANCIAL PROFILE
According to the 2015 accounts, the business currently generates an advised turnover of around £97,301 per annum with a healthy gross profit of approximately 65%




Listed by: Hilton Smythe
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