BUSINESS FOR SALE - A BUSINESS SPECIALISING IN MUSIC EDUCATION IN THE MIDLANDS AREA ("THE PARTNERSHIP")

John Pye Red Line Spacing

International award-winning, music education business primed for franchise expansion, established in 2002 with low overheads and positive profit margins, mainly based in the Midlands area but with increasing provision across the UK.

The Partners are looking to conduct a sale of the trading business. The Partnership is a business specialising in the delivery of curricular and extra-curricular music education offering services across the UK. The Partnership principally operates from school premises in the Midlands area, and is not
bound to any leasehold or freehold premises.

The Partnership services include peripatetic music lessons, ensembles, recording sessions and international tours to young people throughout the UK. The Partnership has made significant advancements with their service delivery and increased the customer base by 17.5% during the UK lockdown. The demand for services is outstripping demand and as a response, the Partnership is about to launch a franchise offering of 99 territories. Embracing technological developments and a passion for excellent customer service has enabled the Partnership to generate respectable revenue and customer retention rates, giving them a distinct advantage over many other education providers.

A key focus of the Partnership’s business model is to keep overheads low at all times.

The Partnership currently benefits from governance from their Board of Non-Executive Directors, which have diverse skills sets including: IT, law and finance. The Partnership has 13 employees / Partners.

Assets available for sale include all educational materials, intellectual property, IT website, social platform, order book of current and future service level agreements, fixtures, fittings, office furniture, computer equipment and vehicles.

In 2019, the Partnership set up 6 sites around the UK, proving that its model could be launched nationally. Each of these sites were successful and the current education team have the ability to deliver in excess of 360 hours p/w of education services.

Turnover per the statutory accounts for the year ended 31 March 2021 was c.£195k, and earlier years’ statutory accounts show c.£250k for the year ended 31 March 2020. The Partnership has a holistic approach to services and society and as such voluntarily repaid furlough claims in excess of £30k.

The Partners have grown the business over c.19 years and wish to finder a suitable buyer who will develop and expand the business even further.

Following receipt of expressions of interest, and a signed Non-Disclosure Agreement, brief sales particulars will be provided via a data room. Offers for the purchase of the business and/or its assets as a going concern, by way of sealed bids, need to be sent to PKF Smith Cooper by 12 noon on 22 October 2021, together with evidence of funding.

When submitting your offer, please provide contact details of your solicitors and evidence of funding to expedite matters.

John Pye Red Line Spacing

If you are interested in pursuing this opportunity further, please contact one of the following for additional information:

Dean Nelson
+44 (0)1332 332 021
dean.nelson@pkfsmithcooper.com

Emily Oliver
+44 (0)1332 332 021
emily.oliver@pkfsmithcooper.com

PKF Smith Cooper, St. Helen’s House, King Street, Derby, DE1 3EE

This document is directed only to Recipients who may be interested in making an offer that would qualify for exemption under Article 62 (Sale of a Body Corporate), or to Investment Professionals as defined by Article 19 and High Net Worth Entities as defined by Article 49, of the Financial Promotions Order 2005. No other persons should rely on this document.
The purpose of this document is to assist Recipients in deciding whether to investigate the above opportunity. It is not intended to form the basis of any transaction. Recipients must make their own independent assessment of the opportunity and should obtain independent professional advice. The information in this document has not been independently verified by PKF Smith Cooper, which does not give, nor has it any authority to give, any representation or warranty (express or implied) as to its accuracy or completeness.
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