||Employees||0 full, 2 part
* Included in Asking Price
Menswear Wedding Suit Hire / Formal Clothes / Morning Wear
Full Fitting Service
Location : Lancashire
Asking price: £80,000 (Including stock worth circa min. £162,000)
This business was set up by the current owners over 10 years ago and specialises in the hire of mens wedding wear and formal attire.
The vendors have used their many many years of experience in this sector to establish a comprehensive hire business that caters for all the needs and tastes of todays morning wear market.
The business prides itself on offering a complete service to help guide the groom and family though the hire process, offering advice on styles, sizes and combinations. There is a comprehensive range of formal suits plus a wide range of accessories including shoes, hankerchiefs, neckwear and cufflinks. The company stocks sizes and styles to cover all ages, shapes and heights (including childrens suits) and offers a friendly, informal measuring service to ensure the groom looks his best.
This business is somewhat unique in that it owns all the hire stock it offers. The vendor has been careful to invest in only the best quality suits, waistcoats, shirts, neckwear, scrunches etc. from leading Italian and UK designer/manufacturers. These pieces are maintained in pristine condition while the vendor has continued to re-invest in stock year-on-year to ensure it keeps up to date with the latest trends whilst still maintaining a popular classic range.
The business consistently strives for excellence with this being reflected in the quality and choice of attire carried in stock. The company owns over 600 suits sourced from Italian and UK designers. These include wedding suits, occasional suits, formal wear, tweeds, highland wear etc., not to mention around 1,800 waistcoasts (well over 100 different styles) and similar numbers of ties, cravats, scrunches and shirts. All stock is held on site and readily available for customers to view and try.
Customers receive all the help and service required with a personal fitting service from highly experienced, professional and attentive staff.
With something for most budgets and all sizes, this business operates from an accessible retail outlet with a warm and friendly ambience. The store is extremely well fitted out to showcase the large choice of stock.
This company is successful due to staff ensuring customers are delighted with the service they receive. These tiny details lead to many personal recommendations and a constant stream of customers, many of whom are the next generation of past families who have previously used the services of this highly commendable business.
This is an excellent opportunity to acquire a very reputable business that has the benefit of owning its own highly desirable and in demand hire stock, not to mention a future order book spanning some 12 months in advance.
|Facilities:||The business operates from well fitted leasehold premises that are ideally situated in a prominent position on a busy road leading into the town and have excellent signage. There is plenty of free parking in front and around the shop. The shop has good display frontage for the wedding apparel. The ground floor showroom is circa 1,000 square feet and is fitted out to a high, tasteful standard comprising of fitting rooms, customer toilets, rear office and a pressing area. There is a stockroom in the basement and a further separate stockroom at the rear of the property. The property is very secure with automatic internal shutters to the doors and windows. The lease is renewed annually. Rent is circa £10,500 p.a.|
|Competition:||The business does very little marketing these days having built up a sterling reputation over the years. The majority of its revenues come via referrals and word of mouth recommendations. The business does have a basic website but would certainly benefit from a more proactive approach to sales and marketing. It is understood this would bring in further sales.|
|Growth Potential:||There are many avenues for future growth. The vendors, by their own admission, have not actively promoted the business over the last few years, tending to operate on a reactive basis through choice. With significant levels of stock in place the business could comfortably service additional sales well above its current “comfort” levels.|
|Training/Support:||The vendor is more than happy to provide a comprehensive handover to ensure a seamless transition of ownership. This should be a relatively simple process as he only works part time in the business as there is a very capable manager in place who runs things when he is not around.|
|Sale Reason:||Genuine retirement sale.|
Seller Reference #CQ192
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