Enjoyable ‘Lifestyle’ Business
Operated Full Time 6 Months a Year
Much Scope to Increase Turnover
Established since 2007
Good Profit Levels
Extensive Equipment List
Genuine Reason for Sale
We are delighted to have been given the opportunity to market this desirable long established and profitable lifestyle business which has a lot to offer a new buyer. Only now becoming available for genuine reasons this is an excellent opportunity for a new owner to enjoy a good work/life balance as it currently stands or to use the spare time to generate further income either in this business or perhaps another.
This is an ideal proposition for both a new owner operator or for existing business owners in the events sector who either already provide marquee hire and wish to expand or who would like to add this service onto their current offering. Covering the whole of Norfolk and Suffolk, a potential new owner could grow the business further by expanding into the Cambridgeshire and Essex regions.
THE BUSINESS ITSELF
The business was established in 2007 by the current owners and has gone from strength to strength, now with a strong corporate client base as well as being a preferred supplier for many high end wedding venues in the region.
Given the nature of the business they are understandably at their busiest during the summer months. The vendors typically find themselves working full time for around 6 months of the year and then on a part time, as and when basis the rest of the year. There is though scope to look at other income streams and ways to increase turnover in the quiet periods or of course simply enjoy your spare time to do the things that you would not normally get the chance to do.
The business previously regularly enjoyed a turnover of c. £140k with an adjusted net profit in the region of £70k. However due to personal reasons the vendors have restricted turnover to £110k for the 2020 accounting period and it is for these same reasons that they are now looking to sell. It is expected that the turnover could easily be increased again if desired with the promotion of the business and the taking on of events that have previously been turned down.
Whilst it is noted that 2020 has seen many orders postponed, the vendors report that they have already secured orders for 2021 of around £60-70k. To enable the business to operate efficiently at this time they do not currently directly employ any staff which enables overheads to be kept very low. It also allows a buyer to be untied in how they wish to operate the business moving forward.
Being known for their flexible offering of marquees has enhanced the company’s name for being able to deliver what clients want. They provide in the main 3 different types of marquees, being the traditional pole marquee, trapeze marquees and the classic frame modular marquees. The sale of the company comes with all associated equipment that would be required with this type of business including matting, linings, chairs, tables, dance floor, lighting and other associated items. It is the hire of these items which really increases the turnover as the vendors find that most orders now require these items to accompany the marquees.
ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.
There is no property included in the sale of the business and a purchaser will be able to relocate it to any location they so wish. The vendors do informally rent a storage facility to house their equipment which has lighting, power, water and parking for several vehicles and it may be possible that the Landlord would allow a buyer to take this over however this is not a requirement of the sale and it would be subject to agreeing terms with the landlord.
The business operates such hours as are needed to provide the service required by their clients.
None currently being paid.
This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.
Strictly by appointment only, please call our Norwich Office on (01603) 662 662 to make an appointment.
Finance may be available to suitable purchasers.
BUSINESS TO SELL?
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1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
Is this business relocatable: