Equipment Hire for sale in Greater Manchester

View the "Consumer Hire Loan Book Substantial Discount to Book Value" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.

Consumer Hire Loan Book Substantial Discount to Book Value

Greater Manchester, England

  • Price: £99,000
Seller Reference: 66661-595218
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Business Description
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Seller Reference: 66661-595218
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Business Description
Consumer hire FCA regulated franchise with existing customer base and forward loan book and stock.
This is a 4 year old financial loan franchise company specialising in consumer hire of household goods on a lease hire basis such as TVs , Sofas,Tables,Fridges, Beds, White Goods , Furniture, Electronics , mobile phones , iPads , Lap tops etc . These products are purchased from various suppliers at retail or wholesale . The business is a consumer hire FCA regulated franchise.
The customers are found by head office led generated leads through social media channels targeting specific demographics . There is an existing base of 182 customers for the loan book the data base is 563 entries. At peak there were 335 live contracts at once but as the owner has decided already to reduce his time in the business , At peak the book had a value of £542k . The current value is £183k which is being discounted to £90k to reflect a fair value of gross receivables . The franchise system has been operated for 13 years 6 years in the uk . There is a 10 year agreement in place , the majority of these franchises being sold have 8 years left . There are 50 franchisees in the uk . The cost of a franchise is £40k plus vat so £48k . This deal incorporates 1 territory so a total cost would be £40k. This together with the gross book value of £183k , a total of £223k is being discounted heavily to a total price of £99000 less than half the true value .
Support and Training:
8 weeks
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