Business
Please quote reference B06228

CoGoGo welcomes to the market an exciting opportunity to acquire (on a leasehold basis) an exceptionally well run and performing classic car part manufacturing business with a worldwide brand name.

Springalex Ltd has been trading for many years and has been under the meticulous ownership of our clients since 2008. It is only now the business has only now been introduced to the market as our clients look to take their well-earned retirement.

The business is renowned worldwide for production and supplying handcrafted wood and leather rim steering wheels and bosses for classic and sports cars all over the world. The products are made in their warehouse and by subcontractors in the UK, supplying major aftermarket outlets in the UK, plus shipping worldwide to trade customers. They also have variations on the products available as well, from top of the range to the lower budget end of the market.

It must be clearly stated that the current business is operated by a husband-and-wife team on a part time basis with working hours of 09:00 – 12:00 daily, leaving plenty of scope for a new owner.

We feel there is scope to increase turnover with the undertaking of a robust marketing campaign via local press, classic car magazines, social media, and further promotion of the dedicated website, along with the possibility of introducing new products to complement the existing range.

This is a highly desirable business and would be a very attractive proposition for either an individual or partnership looking for their first business in this sector which is already established, or for an experienced operator looking for an additional business with an attractive income stream.

Very rarely do businesses of this calibre come to the open market therefore, early viewing must come highly recommended to avoid disappointment.

Location
The business is based in a commercial trading estate with mainly office accommodation and some light industrial premises. The area benefits from excellent road access within.

Premises
The business is located in secure warehouse premises, with all tooling and equipment in place, but could quite easily be relocated within another business setup anywhere within the UK.

Tenure
We are advised that the business is being sold a Leasehold basis, with the current lease due to expire in 2021. The rent is £400 per month. 

Hours
The business hours are –

Monday – 09:00 – 12:00
Tuesday – 09:00 – 12:00
Wednesday – 09:00 – 12:00
Thursday – 09:00 – 12:00
Friday – 09:00 – 12:00
Saturday – Closed
Sunday – Closed

Staff
We are advised that the business has 2 part-time staff members. 

Financial Profile
We are advised as per the 2020 accounts, the business generated a turnover in the region of £85,000, with an adjusted net profit in the region of £27,000. Full financials can be made available upon further request. 

Please quote reference B06228