Sold

Successfully Tendering Information in the UK

East Sussex, England

£120,000

Ref: B04596

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Description

Hilton Smythe welcomes to the market Tenders and Contracts Ltd, established by our client in 2003 and now offered for sale due to retirement.The business is currently run to suit our client who only spends around 10 hours a week overseeing the website, it generates a very healthy profit from just the automatic renewal of its 600-700 registered customers.Any new buyer is being given a once in a lifetime opportunity to increase the customer base and turnover by simply adding more time and staff back into the operation. The key asset is the design and ease of the website which runs extremely efficiently with minimal input. Our client informs the model previously employed tele canvassers who could easily generate 2 new customer sign ups per day which resulted in a turnover been achieved in excess of £500,000. By increasing the number of tele canvassers could very easily increase current turnover to over £800,000. A new canvassing team could be established in 1 central office or organised to allow work from home canvassers, the ability to earn both a guaranteed annual wage with 10% commission structure.We are also advised any cancelled subscriptions or failed payments are not called to regain the customer which would allow an easy way of increasing current customer numbers.The business and concept is truly genius, its unique website manages a database of SME’s who work to serve the multi-billion pound marketplace annually created by Public Sector Procurement. The Tenders and Contracts portal receives new tenders from all trade sectors daily, all keywords and codes in the procurement vocabulary are mapped to ensure all registered clients get to see every tender relevant to their trade. A new registered customer receives their own page with includes their company logo, the services they offer, contact details, a testimonial section and the option to have a linked free website created by the Tenders and Contracts portal. Registration can take around 5 minutes and system fields are clear and efficient in content.Once registered, businesses receive email alerts advised them about upcoming Tenders in their area from the Public Sector on the day the work is issued for public notice. They can then log on and see the full details. All Public Sector work must be put out to tender to allow the SME the equal opportunity to gain new work and the order the tenders are sent in distance from the tender.Smaller independent tradesman can also receive notification of any successful tenders agreed within their area who have specified they may require additional workers for certain jobs. The annual subscription is automatically renewable and currently only £149 per year. All payments are made by Credit and Debit cards with no or little time required by our client to chase or manage. Any customer service enquiries are managed by the comprehensive stored questions/ answer page stored within the website and therefore require little admin time to control. Our client will also include 2 additional websites - ‘Tender Library’ and ‘Subby Direct’ which work as add on sites to increase customer footfall. There is a full handover training pack included which includes an agreed handover period with our client.

Tenure

Business Only

Business Only

Hours

Currently only 10 hours a week are invested, increasing the hours or adding a 9-5 office team would significantly increase business levels.

Staff

The business is run and managed by our client with some help from his daughter, any new owner could increase both the time invested and staffing levels to boost the number of new subscriptions.

Financial Profile

We are advised the business is currently run to suit, the turnover from the 2018 accounts achieved just over £100,000 with an adjusted net profit of over £50,000.

Location

The business is currently run from our client’s home in the South East of England however due the fact the business is driven by its website it could easily be reallocated to any part of the country or Europe.

Premises

Business only, however there is a telephone system with 5 independent handsets included in the sale which can be programmed with local dialling codes depending on the location of the canvasser or canvassing team.

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