Business Hilton Smythe welcomes to the market Major Tyres. The tyre garage was originally established by our client in 1993. The business is well-run and boasts an enviable reputation. Our client is now looking to sell the garage, due to the desire to take a well-deserved retirement.
The business runs as a tyre and exhaust replace specialist. They also offer other services such as diagnostics, brakes, batteries, services and repairs. The garage also supply and service commercial and agricultural tyres, a popular service in this town with the ample industrial businesses and farms.
Major Tyres generated an advised turnover of circa £380,000 as of the 2016 accounts, with a gross profit of 55%. This is a healthy turnover; however, we feel there is scope to massively increase this figure. We feel that by extending opening hours and opening Sundays, this would maximise the amount of custom each week.
Fakenham is currently undergoing a large housing development. There are 900 new homes being built in the town, this will increase the population by 20%. Targeting these customers with a leaflet drop could allow for more trade. Introducing a business website and taking full advantage of free social media sites such as Facebook should be something the purchaser considers.
This is a fantastic opportunity for a purchaser with experience in the trade. The business is well-established and boasts an excellent client base. Hilton Smythe highly advise early viewing to take in the full potential of the trade.
Location Major Tyres is located in Fakenham, Norfolk.
The business is set in an industrial location just off a main road. There are several businesses in this location as well as some residential housing, this includes a signage shop, garage, frozen food manufacturer, offices, care homes and much more. This is a busy location that receives daily heavy passing trade and footfall.
Fakenham is a market town with a population of circa 7,617 as of the 2011 census. The town has a bustling town centre with a plethora of retail outlets with beautiful countryside surroundings. The town has all amenities, a perfect place to both live and work.
The tyre garage is situated just off Norwich road that runs into Fakenham town centre, this is a 10-minute walk away. Just out of town is the A148 and A1065, arterial A-roads that further link to surrounding towns.
The A148 is a well-used road that runs to Cromer on the coast. There are bus stops a short walk away from the garage and the closest train station is in King’s Lynn, this has regular routes to London Kings Cross.
Premises Major Tyres boasts a substantial well-signed property. The tyre garage is presentable and looks highly professional.
There is ample parking directly outside the property for customers, staff and awaiting vehicles. There is a large roller shutter door that leads into the garage and a separate door into a reception area.
The tyre garage is a great size with high ceilings. This space is open plan with tyre shelving to the left, back and right hand side. In the centre is a large two post ramp.
The garage has a staff toilet and kitchen area. The reception has seating and desk, this doubles up as the staff office.
Equipment included in the sale:
• Ramp • 3 x compressors • Diagnostic equipment • 4 x tyre fit machines • Wheel balance • Wheel alignment gauges
Tenure We are advised the business is being sold as a Leasehold opportunity.
Lease information to be advised - Rent: £375 per month
Hours The business opening hours: -
Monday - Friday: 8.00 am – 5.30 pm Saturday: 8.00 am – 12.30 pm Sunday: Closed
Staff The business is run and managed by our client, with the help of one full time and a temporary full time member of staff.
Financial Profile Major Tyres generated an advised turnover of circa £380,000 as of the 2016 accounts, with a gross profit of 55%.