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Virtual assistant agency - providing VAs to businesses

Reference
S11390
Turnover
£2m to £5m
Sector(s)
Business services, Miscellaneous, Professional & financial, Service industries, Technology
Region(s)
East of England, East Midlands, London, North East England, North West England, Northern Ireland, Scotland, South East England, South West England, Wales, West Midlands, Yorkshire and the Humber, UK Wide, Outside UK
Added
20 February 2024

Business description

This UK Ltd company has a bank of 200+ highly skilled and carefully selected Virtual Assistants (VAs) who work, as freelancers, from their homes, using their own equipment.

Clients approach this business with their requirements for a VA - the skills they need and the number of hours per month that they need. The company matches them with VAs on their books and clients sign up to a subscription service to use a fixed number of hours of that VA's time per month.

The company charges clients by direct debit (in advance), pays the VAs out of that and the rest goes towards running expenses and profit.

There has been extensive investment in a bespoke platform used by staff and by clients to make for efficient and smooth operation. There is also significant automation. However, there are also full time managers and staff who run the entire business. As will be demonstrated, the owner has, over the last few years, taken a back seat and now has next to no involvement in the business.

Highlights

  • Established, self-running business;
  • Profitable and growing;     
  • Remote / Relocatable;     
  • Highly diversified B2B customer base;     
  • Extensive investment in IP – platform, systems, processes;     
  • Well documented – operating manuals, employee guides etc; and     
  • Well trained and motivated team of employees (and freelance VAs).

Financials

Turnover (£'000) Adjusted EBITDA (£'000)
2020 (Actual) 376 53
2021 (Actual) 908 237
2022 (Actual) 1,691 475
2023 (Actual) 1,906 547

The conservatively calculated Adjusted EBITDA has taken into account a market salary for owner input (from 2020 - 2022. Subsequent to that there's been no owner input into management of this business).

Clean financials, good record keeping (all computerised), clean history with HMRC, credit reference agencies etc.

Opportunities

  • Providing the current services to large organisations / enterprise clients;
  • Adding related services such as phone answering and company secretarial services;    
  • Expanding to markets outside of the UK (the US market is particularly ripe for this service especially given our time zone bridges them to the EU and Asia);
  • Other opportunities in the business plan to be shared with the eventual acquirer.

Prospective purchasers

  • 100% of the shares of this business are for sale;
  • Seller financing is available but only for those investors who will be making a significant investment of their OWN capital;     
  • As the business has a full second tier management in place, no lengthy handover is necessary but handover period is negotiable;     
  • Owner is willing to stay for up to a year on a consultancy contract IF needed.

Reason for sale

Owner has moved out of the UK and is looking to pursue other opportunities after building this business from scratch starting over 10 years ago.

Additional information

The owner has reasonable price expectations; expressions of interest are invited.

Prospective buyers will be expected to put together an outline offer within a reasonable time frame after receiving the Information Memorandum, financials and having their intial questions answered in a meeting with the advisor and/or business owner.

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