* Included in Asking Price
Established and Successful Retail Furniture Business
Location North Yorkshire
Asking price: £85,000 + SAV
Asking price includes:
Impressive annual turnover of £437,000 (ex vat)
A Gross Profit margin of £193,000
An established popular business with an excellent reputation
Ideal high profile open plan leasehold premises
This thriving retail furniture business was established by the present owner over 30 years ago, and supplies a wide range of contemporary mid-market Living, Dining and Bedroom Furniture. It is now beautifully located within a historic Corn Mill, which provides an ideal backdrop for the furniture. Great emphasis has always been placed on outstanding customer service, with the result that the store commands a superb reputation throughout the area. The business is ready to be taken to the next level by enthusiastic new owners which could include the opening of additional stores, or further emphasis via the website and internet.
The business stocks a wide range of stylish Furniture, Lighting, Soft Furnishings & Home Accessories including sofas, tables, chairs, wardrobes & beds. It is now at the stage where you can virtually furnish a whole house, and indeed it has supplied products to various local show homes. Around 2 years ago, the business was successful in acquiring a “Stressless” Studio, probably the most coveted manufacturer in the furniture trade. Other suppliers include Corndell, Alstons, Neptune and TCH, whilst other respected manufacturers are hoping to be included in the store. Contemporary furniture is covered by suppliers such as Peressini and Actona. In addition to the “brands” which help attract the public, the business also recognises the importance of offering various ranges of non-branded products to help improve profit margins.
In addition to the impressive showroom where customers can take their time to walk through the various room layouts, which can in themselves provide ideas for buyers. The business now has a strong presence via an impressive and informative website. The business has always had internet presence, but has recently established a website that includes the vast majority of the ranges stocked. The site has been populated with full details of hundreds of pieces of furniture, and is fully expandable to include further ranges in the future. The website is now just one step away from being fully transactional. It is envisaged that this would open up a much wider marketplace, and this is something that the vendor has decided to leave for the next owner. Emailed newsletters can be sent out directly from the website subscriber list.
|Facilities:||In the past, the store operated from split sites. Over the last few years, more floor space has been added within the Mill, and the business has been able to move out of its secondary site. The whole business now operates from a single large location, thus reducing overheads, making it much easier to operate, and could be run by fewer staff.
The current rent of the Mill is £31,250 including a service charge that includes all exterior maintenance and water rates. We are advised that a new lease is available from the current landlord and interested parties will be provided with additional information. Showroom space is approx 4,000 sq. ft. The current rates payable for 2011-12 are £9,730
The mill also benefits from a rear customer car park which is ideal for shoppers.|
|Competition:||The business has the benefit of national advertising via some of the brand name ranges of furniture that are currently stocked. In addition to this it also has a presence in some of the high profile magazines which include Yorkshire Life etc. The business already has a database of 6,000 clients with over 600 email contact addresses.|
|Training/Support:||Full support and training will be offered to the successful purchaser of this business.|
|Sale Reason:||The current owner after 30 years in the industry is now looking to retire.|
Seller Reference #IK263
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