||Employees||3 full, 4 part
* Included in Asking Price
Freehold Electrical Appliances, TV & PC Retailer & Service Centre with new online sales facility
Asking Price £ 575,000
Asking price includes:
Freehold Property circa £200,000
Turnover for last financial year circa £807,000 per annum
Gross Profits for last financial year circa £196,000 per annum
High quality stock (circa £100,000)
Total Net Assets (inc. freehold, stock etc.) circa £370,000
Profits up for current year due to new online success
New commercial catering arm-huge growth opportunity
Run under management
Award winning retailer
Main dealer status with leading AV/Electrical manufacturers
Authorised service & installation department
Fully computerised back office systems
15 years successful trading
Superb freehold retail location
This very well established and successful retail business has been trading in the centre of this town for some 15 years and has built up a sterling reputation in the area, and a loyal customer base, who appreciate the high quality products and superior service levels and installations this company provides. The business benefits from having very limited direct local competition provides its customers with a comprehensive sales and after-sales service.
The business several core revenue streams as well as two new ones which should increase both sales and profitability moving forward. These include:
• Retail sales of leading brand Audio Visual, TV, Satellite, PC, Phones and other electrical/ white goods (inc. ovens, fridges, freezers, dishwashers, laundry microwaves, small appliances, vacuum cleaners etc.)
• Domestic installation of such equipment and removal of old units
• Full after sales service inc. spares, consumables etc.
• New online sales of above goods via 2 new and secure e-commerce platforms.
• New commercial catering equipment/appliance supplies. This was developed due to market demand in the area and at time of this business going to market has only been trading 6 months. Sales to date have been impressive with good margins being achieved. Business has its own catalogue listing circa 20,000 lines from leading brands.
The firm is very well established within its market, providing a ‘one stop shop’ to many of its customers with a guaranteed range of products and services and the highest levels of quality. The business has built up a superb team of staff over the years and this includes senior manager and long serving sales and administration staff.
|Facilities:||The business operates from prime freehold retail premises on the main high street with excellent shop double frontage. Premises comprise main retail areas with adjoining rear warehouse and storage.
The retail premises are freehold and we are advised freehold valuation is circa £200,000. We are advised the adjoining rear warehouse is long leasehold. Annual rent is circa £7,000 p.a. Rates are circa £8000 p.a.
The current asking price includes the freehold property. However the vendor would consider selling the business on a leasehold basis should a new owner so require, subject to negotiation.|
|Growth Potential:||The business also has excellent opportunities to maintain and generate new revenues from its substantial customer base, as clients will return for accessories, upgrades and repairs as well as generating new sales via referrals. It could also look to develop a service and repair service should a new owner so wish, as the demand is there.
The two new areas for growth include online sales (which currently only accounts for 5% of revenues) as the infrastructure has been put in place for this and the vendor is already seeing the results. The other potential is in the catering appliance/equipment should a new owner wish to continue to promote this. Again, in a relatively short period of time the business is already benefitting from healthy levels of new business, which compliments its core offering.|
|Training/Support:||The vendor will provide full support and handover period to ensure a seamless transition of ownership. This should be a relatively simple process as the business has excellent systems and management already in place who run the business.|
|Sale Reason:||The vendor is looking to retire and spend more time in his home overseas.|
Seller Reference #AI037
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