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Asking Price
£55k
Description
This is a highly profitable locksmiths, which has been trading for the last three years when the current owner started the business. The vendor has now decided to emigrate. Our client sub contracts for several major national companies, who generate continuous work at the retail level. The companies collect all payments and pay our client every 7 days. Unlimited amounts of work are available. The vendor receives between 40 - 80% of the final retail price, which equates to an average of £90 per job. Each job takes an average of 1 hour. Our client typically works three jobs per day over a 5 day week and is able to take as much time off in order to accommodate his young family. The business provides full locksmith services for vehicles, commercial and domestic. In recent times, there has been large demand for new locks and upgrades for residential houses. Access control for both businesses and homes is also proving highly popular. All work is at retail level. Our client also advertises in Yellow Pages and The Know (a local directory), which is generating good levels of work. The owner has informed us that he is willing to give full training and assistance to a new purchaser. The only requirement being that they are good with their hands. In terms of supply, our client has opened accounts with all the major national suppliers, on 30 day terms. The asking price includes all tools and picking equipment. The locksmith's key cutting equipment is available by separate negotiation. The stock at cost is in the region of £8,000 - £10,000 and is staffed solely by the owner. The business is an ideal and lucrative first time starter venture, especially as the owner is willing to train a new purchaser to become a locksmith. Depending on the new owner, the business can start employing additional staff, as there is an unlimited volume of work, or one may want to run it on a lifestyle basis, maintaining the current £40,000 per annum net profits (before tax).
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