Successful Independent Tutorial Agency SOLD

Reference Number: HA0273

Location:

Turnover: £101k

Status: SOLD

Business overview

–      Outstanding opportunity to acquire a successful tutorial agency in East Anglia.

–      Profitable and cash generating business, which remains relatively unaffected by the current economic climate.

–      Established in 1987, the agency has a long standing reputation for its excellent service to its customers and tutors alike.

–      Key to success: personal service underpinned by effective systems and processes, which ensures that all clients are dealt with to the same high level.

–      Clients are mainly parents of school aged children, who provide repeat business over many years, although independent schools and colleges that use the agency’s tutors provide significant additional income.

–      Run by the owner on a part time basis to fit around family commitments.

–      With its well defined brand and effective systems and processes, the business could easily be rolled out across the UK either organically or as a franchise, thus creating a vast growth opportunity for the buyer.

–      With a ready made client list and large pool of carefully screened tutors, this business presents an ideal opportunity for either another tutorial agency to acquire a new catchment area or other service orientated businesses that wish to diversify, e.g recruitment agencies, outsourced PA services, or sales and marketing support businesses, to acquire a new revenue stream with little additional overhead.

–      The business also presents an opportunity for an ambitious individual with good organisational skills and knowledge of marketing to acquire a platform from which to grow their own business.

Products and Services

–      The agency offers tuition to students (predominantly school aged) in their own homes. The agency also provides and recruits tutors for business clients in the education sector, e.g. local independent schools and colleges and language schools.

–      The agency currently has c. 300 registered tutors who cover over 100 subjects at all levels.

–      The agency interviews and selects all tutors and matches them to the clients’ needs.

Employees:

–        1 director (vendor) acting as agent to freelance tutors.

Premises:

–        The business operates from the vendor’s home.

Reason for sale:

–        The vendor wishes to retire.

Financial overview

Year ending 30th AprilAverage annual figures
2000-2005
2007-082008-092009-102010-11
Forecast
Gross fee income
(tutor + agency fee)
£146,401£68,067£65,541£64,805£101,000
Agency fees£39,400£25,000£35,500£25,750£37,000
Percentage27%37%54%40%37%
Expenditure£8,900£9,400£11,800£13,000£8,500
Net Profit
(Before owner’s takings)
£30,500£15,600£23,700£12,750£28,500
Percentage21%23%36%20%28%
SOLD for asking price: £55,000 for business assets and goodwill

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