* Included in Asking Price
Superb Edge of Town/Retail Park Location
Asking Price: £95,000 plus stock at valuation
Asking price includes:
Current Turnover circa £500,000 per annum
Gross Profits circa £148,000 per annum
Young, dynamic business with huge potential
Superb edge of town location adjacent to premier retail park
Excellent leasehold premises circa 7,500 square feet
Recently refurbished to very high standard at cost of circa £50,000
Wide range including leading brand manufacturers
Area exclusivity for certain manufacturers
Potential for growth and expansion
Training and handover
Skilled sales staff
This young, fresh and dynamic business, an off-shoot of the vendor’s very well established and successful flooring business, only opened its doors less that 12 months ago and in that time has already posted very impressive sales figures that are on target to achieve circa £500,000 of sales in year one with forecast figures for year 2 expected to show in excess of 10% growth.
Prominently located on one of the major thoroughfares adjacent to one of the largest and most successful retail parks in the UK (with average weekly visitor numbers being circa 125,000 per week), this specialist sofa retailer benefits significantly from the huge volume of traffic drawn to the area by the major furniture retailers and home improvement centres situated close by. Customers come to this outlet because it is the only independent locally that is so conveniently placed and for something that is that little bit different but still competitively priced, for the high levels of customer service and delivery times that can be far less than those normally associated with the major chains.
With approximately 7,000 square feet of retail space on one floor this business has over 55 ranges and hundreds of sofas options available at any one time from leading manufacturers including unique ranges from both the UK and abroad as well as benefiting from having area exclusivity for a major supplier to the UK market. The offering is wide and includes traditional, modern and contemporary styles.
This business offers a high level of personal service and customer care. Staff are skilled, highly trained in the art of selling and very knowledgeable.
In less than one year, due to strong customer recommendation and the ability to provide high quality products from stock at the right price, this business has built up a turnover of circa £500,000 per annum, generating impressive gross profits circa £148,000 p.a. This figure is expected to grow in year two as the business is already enjoying referrals and recommendations from some 400 satisfied customers.
In the hands of Owners who can commit the time required to develop the many opportunities at its disposal a conservative estimate suggests this business is capable of turnover in the region of £1m – £2m. This therefore represents an excellent opportunity to acquire a young vibrant business where the vendor has already invested in the infrastructure to enable future prosperity and growth. The business in a very desirable retail location with an exceptionally competitive lease, low overheads and has very good selling space.
|Facilities:||The business operates from superb leasehold premises circa 7,000 square feet on one floor. As already mentioned the store has recently had a £50,000 refit with new flooring, ceiling, lighting and signage so is in pristine condition. It is located on the edge of the city adjacent to one of the UK’S premier retail parks and enjoys excellent exposure and accessibility.
The vendor has secured very favourable terms. The lease is for 15 years with 5 year rent reviews. Current rent is circa £25,000 p.a. Rates are circa £12,500 p.a.|
|Competition:||A high proportion of the business's revenue is due to strong word of mouth recommendation, much of it generated via the Owner’s core business. Perhaps its most effective form of advertising, however, is its site, acting as it does as a major advertising hoarding to the huge volume of traffic that passes its doors each day|
|Growth Potential:||The business owner has invested significantly in the business infrastructure and it could easily accommodate significant levels of growth within the current premises|
|Training/Support:||The Owner will provide full business familiarisation, training and handover to ensure a smooth transfer of the business|
|Sale Reason:||needs to concentrate on his other core business.|
Seller Reference #AG138
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