Business
Please quote reference number B08207.
The company is an online vehicle purchasing platform, providing a fast, hassle-free car-selling service for the end user.
A competitor to the likes of webuyanycar.com and Motorway, the company is a well-established online vehicle purchasing platform that facilitates a streamlined, customer-friendly process for customers selling their vehicles. Operating for just shy of 20 years, the platform has built a reputation for high customer satisfaction, consistently outperforming competitors in Trustpilot ratings.
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Operating exclusively online, the business model focuses on providing a fast, hassle-free car-selling service through instant online valuations formalised at a same or next day in-person appraisal of the customers vehicle to guarantee the price. They profit by reselling cars through a vast dealership and broker network, relying on high transaction volumes to drive profitability and convenience to attract customers. They also generate additional revenue from managing the logistics of vehicle collection and delivery.
Key differentiators on the market include: transparent process and fair pricing, unlike competitors who often chip away at valuations following inspections; a quicker process than the competition, offering same or next-day appointments at the customer’s location; underwriting of the vehicle particulars and quality to the dealer network, taking a significant amount of the workload involved in acquiring a vehicle away from the dealer; and a straightforward, user-friendly platform featuring an intuitive online valuation tool.
The company’s operations are supported by a bespoke IT system designed to manage high volumes of customer enquiries and vehicle sales. The highly scalable platform has been built using a bespoke proprietary ASP.NET-based backend and would be capable of handling 10x current volumes with ease.
In 2024, the company reported revenues of £14.94 million, down 22% year-over-year due to internal restructuring. Gross profit stood at £652,177 (4% of sales). After adjusting for shareholder and synergy costs, and deducting replacement costs, the adjusted EBITDA reached £304,341.
Highlights –
- Established for 18 years with robust, proprietary systems and extensive market know-how.
- High customer trust scores (1% negative reviews vs. competitors’ 8%).
- Proprietary ASP.NET-based backend system enabling scalability of operations.
- Multi-channel revenue streams: vehicle sales, logistics, and delivery services all contributing to income flow.
- Strong market positioning with potential to scale quickly under new ownership or investment.
- Capable of remote operation and management.
- Effective management of vehicle logistics, enabling cost efficiencies.
- High-performing customer service team, backed by a robust Trustpilot rating
Opportunities –
- Positioned to take advantage of growing demand for alternative-fuel vehicles (AFVs).
- Opportunity to perform database marketing that is not currently undertook.
- Opportunity to integrate value-added services, such as trade-in programmes or car-buying finance.
- Scope to move to longer trading hours, e.g. to a seven-day week 8am-8pm in line with industry standards.
Location
Online Platform.
Premises
The Business operates from Leasehold premises.
Tenure
Leasehold premises.
Hours
Due to the nature of the business it operates all year round.
Staff
There are 10 employees , 4 of which are on-the-road salespeople, 3 office-based sales staff and 3 admin staff.
Financial Profile
Turnover IRO – £14.6m in 2024.
• 100% share capital.
• Interested parties will be required to sign an NDA.
