Steve Bradley, foreman and technical maestro at work at Sloans. Photo / Supplied
Steve Bradley, foreman and technical maestro at work at Sloans. Photo / Supplied
A Waipukurau business specialising in function hire, canvas and upholstery products and catering equipment is on the market for sale.
Business broker John Masters says Sloans Saddlery & Canvas Co has an impressive record, having operated in the Central Hawke's Bay town of Waipukurau for more than 60 years.
The well-established and highly diversified business operates from leased premises, at 43 Takapau Rd, Waipukurau, says Masters.
"It has the advantage of excellent fundamentals — a good lease, useful main-road-location, reliable turnover and great margins.
"There's a continuous workflow with repeat business and growth potential for a motivated purchaser. The company is well stocked, with excellent plant and vehicle fleet.
"And perhaps best of all — since the quality of the people involved can make or break a business — Sloans Saddlery & Canvas Co has loyal long-term staff, who possess all skills and experience required."
Masters describes the business, which is for sale via expressions of interest to be made directly to the owner, as one which runs like a well-oiled machine.
Sloans operates from leased premises at 43 Takapau Rd, Waipukurau. Photo / Supplied
"This is primarily thanks to its owner, respected Hawke's Bay business identity Neil Sloan," he says.
"The fact that Neil, having made a huge contribution, has decided to pass on the baton in order to retire really does create an exciting opportunity for somebody.
"In my view a new owner possessing some vision, can now come in and build upon the wonderful foundation that exists here.
"I see a prime opportunity for somebody looking, perhaps for family-raising reasons, to move to the beautiful Hawke's Bay.
"There's every reason to do so as this part of New Zealand has a fantastic climate, excellent schools and is close to some of the country's best beaches and most scenic bush-clad ranges.
"All sports and recreational pursuits are catered for, most obviously in this context — all the equestrian ones.
"I'm also sure that the closeness of a heated pool, gym facilities and cycle tracks, won't be lost on anyone wishing to forsake Auckland for the family life that's still available the provinces.
"Above all, those wishing to move out of the big city should note that provincial areas of New Zealand, such as Hawkes Bay, are now dominating this country's economic growth — comfortably outpacing the main centres, according to Infometrics' latest economic report.
Masters points to an article in the latest issue of Hawke's Bay Today, stating that the region is "rocking commercially" and that this confidence has enabled an increase in staff levels and an increase in training, while also exposing the skills shortage.
"By every measure Hawke's Bay is now going ahead in leaps and bounds economically.
"And it seems incredible that a business as well established as this one, which stands upon the sure foundation of years good service to the public, is now available for somebody to take to the next level.
"The eventual new owner won't even need to be an expert in canvas or upholstery, as despite the current skills shortages, all the expertise required is already available among the loyal staff working at Sloans."
Masters says the business has three key divisions:
• Function hire comprises marques, chairs, tables, catering equipment. • Canvas & Upholstery services cars, trucks, farm vehicles. • Saddlery comprises both retail and repair services for tack and equestrian saddlery equipment.
Sloans is housed in two adjacent buildings, having a total combined area of about 4300sq m.
"The buildings are very well sited — being located on the main road on the edge of the downtown area. And there's either a lease available or option available to purchase these buildings" says Masters.
"Opportunities to expand seem endless, first-and-foremost due to the fact that online marketing of products and services has not been developed.
"Potential purchasers should also note that while Sloans does work all round the country, Waipukurau is close to Hastings and Napier, substantial markets in their own right."
The business at a glance:
• Company owner — Neil Sloan. • Annual turnover — more than $500,000.00. • Stock value — at present round $375,000, plus vehicles valued at round $73,000. • Lease — three-years at about $36,000pa, plus rates and insurance. (The landlord will negotiate an additional term, or look at selling the premises). • Present staff — four full-time, plus four part-time. • Hours — 8am-5pm Monday-to-Friday; 9.30am to 12.00 noon Saturdays. • Opportunities to expand — online marketing has yet to be developed.
