Buy the hirer - veteran firm for sale

By Colin Taylor

Chance to own long-established leader

Martins Hiremaster has a wide range of equipment for rental.
Martins Hiremaster has a wide range of equipment for rental.

Gisborne's oldest and only locally owned and operated hire business is being sold as a going concern in leased premises.

"This would be an ideal business prospect for a husband and wife team with assistance from additional staff where necessary," says Bayleys Gisborne business specialist Colin McNab, who is marketing the business for $995,000 plus GST.

McNab says Martins Hiremaster was started in 1968 when local man John Martin saw an opportunity to hire his building tools to members of the public.

The business prospered and outgrew its original Disraeli St premises and by 1978, the hire operation had moved to its current location at 126 Disraeli St, a popular service area close to the Gisborne CBD within view of the main street.

"Martin and his wife, Gail, ran the business for 32 years adding a successful party-hire division along the way, before selling in 2000 to its second owner," McNab said.

"The current owners Rob and Carolynne Moore plus passive partners Jim and Bev Moore bought the business in December 2005 and it is now time for the partners to pursue other business interests."

The party-hire division was sold separately in 2006 and the standalone machinery and plant hire business has consolidated a robust reputation servicing the extensive territory area from Mahia in the south to East Cape in the north of the Eastland district.

The owners also own the land and buildings but it is only the business that is for sale. McNab said a lease would be negotiated for the 840sq m of buildings on a 2836sq m site for about $80,000 plus GST a year.

"The business carries a broad range of equipment from cherry pickers and scissor-lift access machines, diggers, rollers, and four-wheel-drive vehicles through to a self-drive furniture removal truck and small power tools, which means it has most bases covered."

It is operated by an owner-manager supported by three staff and a part-time office administrator.

McNab said industry-specific software was included in the sale. This included a large database of national and domestic customers which would benefit a new owner.

"The hire operation could also be run as an adjunct to another complementary business," says McNab. "One of the current owners ran a contracting business in conjunction with the hire centre until recently."

Financial records that would be made available to prospective purchasers on the signing of a confidentiality agreement showed the business had been consistently tracking at impressive levels, said McNab.

"Sound and long-established relationships have been cemented with suppliers of quality brands and this adds further weight to the business credentials."

"The suppliers are also on the ball with after-sales service follow-up so a new owner can take comfort in the fact that these business relationships are solid and mutually-beneficial."

McNab said the owners had been involved with the Hire Industry Association, and had benefited from the industry knowledge that is shared freely among members.

"The association's mission is to promote and safeguard the interests of members and others involved in the hire industry".

He said Martins Hiremaster was a respected business name in Gisborne.

"Over the years the business has supported a wide range of community and sporting events, and has helped out with local initiatives. A new owner can feel confident they are buying a reputable name and operation.

"The longevity of the business brand and the fact that Martins Hiremaster has been involved with most building projects in the region for the best part of 50 years has cemented its community standing."

"The business has been actively involved with repair work and projects associated with the aftermath of the 2007 Gisborne earthquake, and some of that remedial work is still going on today."

- NZ Herald

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