Hamilton Party Hire's base at 17 Maui St, Te Rapa, Hamilton.
Waikato's biggest party and events hire business based at Te Rapa near Hamilton and with a trading legacy of 27 years is up for sale.
Hamilton Party Hire supplies a range of marquees and equipment to parties, functions and corporate events throughout the upper North Island.
"The sale of this business offers the chance for an investor to take over an established operation with a strong reputation," says Brendon Bradley of Bayleys Tauranga who is marketing the going concern business through a tender process closing on Friday March 6.
"Its owners have decided to pursue a new direction and sell Hamilton Party Hire which is well known for supplying high quality products, attention to detail and exceptional service."
In addition to servicing the Waikato region, the business has customers in Auckland, Rotorua, Taupo, Coromandel, East Cape and as far south as Taranaki.
Hamilton Party Hire operates from prominent leased premises at 17 Maui St close to the busy Te Rapa Rd arterial route which receives a high volume of traffic and has easy access to State Highway One. It is also near to the Te Awa shopping centre in one of the fastest growing residential areas in Hamilton.
The business occupies a modern, purpose built premises that includes a large showroom, drive through warehouse, offices a storage and kitchen area, paying annual rent of $200,000 plus GST. The lease has two further rights of renewal giving a potential final expiry date of 2023.
Bradley says large events comprise up to 40 per cent of the company's annual income with referrals continuing to be a major source of continued work along with using social media, print, radio and Grab One voucher deals.
Hamilton Party Hire's base at 17 Maui St, Te Rapa, Hamilton.
"The company's reputation has been established over almost three decades and its existing comprehensive customer database supports the business year round. This includes private individuals, businesses, event organisers and large corporations which use it for repeat and one off events."
The company's main hire products include: marquees, bouncy castles, plastic flooring, chiller trailers, chairs, portable toilets, tables, cutlery and crockery.
In the inventory for sale with the business are several trucks and trailers, a very large range of marquees, commercial bouncy castles, portable toilets, barbecues, lighting, refrigeration units, glassware, cutlery and crockery, catering equipment and some disposable stock such as balloons and plastic plates.
Major events the business has supplied equipment for in the past year include: Auckland's Christmas in the Park, Balloons over Waikato, the Auckland Marathon, Taupo's Ironman NZ, Whangamata Fishing Tournament, Auckland's Pasifika and Diwali Festivals; and the Hamilton Gardens Arts Festival.
"Customers have the option of collecting and returning many hired items or can opt to have them delivered to a site and set up. In the case of large scale functions they can have staff on site throughout the event," Bradley says.
"November through to April is the busiest period of the year for bookings and income. National Agricultural Fieldays in June provide a major boost to the business during the winter months while other items such as bouncy castles, marquees and catering equipment are hired year round."
Trading hours are 8 am to 5 pm Monday to Friday and 9 am to 2 pm on Saturdays. The business employs a core staff of five full time employees along with casual staff through the summer months or when needed for specific events.
Bradley says the business offers multiple opportunities for an experienced business operator to grow the turnover.
"A number of endeavours could be pursued, which take advantage of the location and scope of the business. For example, the market for bouncy castles has continued to grow with demand exceeding supply over the summer months. This side of the business could be extended, particularly additional marketing of them as part of birthday packages for children. "In addition, there is potential to grow the wedding market as a niche area of the business with the purchase of specific items such as feature lighting, table top pieces, and high quality furniture."
What's on offer?
The business: Hamilton Party Hire.
Location: 17 Maui St, Te Rapa, Hamilton.
Agency: Bayleys Tauranga.
Sales method: Tenders closing on Friday March 6.
Features:
• Sale includes wide range of hire products.
• Comprehensive customer database.
• Multiple opportunities to grow turnover.
• Prominent, modern, purpose built premises.
• Potential final lease expiry of 2023.