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Get Started HereThis is an outstandingly well run business. The owner wants to re-direct their energies elsewhere after the last 10 years building this highly regarded business. A full handover will be put in place for the new owner.
Asking price: £140,000 plus stock at cost
Business Description:
This business is highly rated by customers for the overall experience through its on line and real presence. Collections are followed with enthusiasm by a loyal customer base but there is plenty of passing trade too.
The location is outstanding – City professionals and new industry workers from tech and media, are based on the doorstep - the nations’ highest average incomes within a mile’s radius of the retail location.
The store itself is a Victorian charm. Fitted beautifully and with elegance lost in many modern stores, customers are received and treated as they should be, by staff who are knowledgeable and attentive; but not overbearing.
The team have been with the business for a long time and practically run it on a day to day basis. They are involved in the business, not just employees.
Stocking a retail business of this nature is highly selective and the owner is more than willing to work with the new owners – buying collections takes planning and so interested buyers will have some knowledge of the seasonal cycle.
Business Performance:
Annual turnover is approximately £250,000. There has been small growth in this past year but without tremendous effort. Gross Profit margins are very close to 50%.
Further information will be divulged to interested purchasers under a confidentiality agreement
Lease Information:
The lease has 10 years to run and costs £ 41,000 per annum (“pa”) . This is exceptional and will allow a new owner to feel very comfortable when planning. Current lease rates in the area are much higher
Rates are currently set at £ 13,800 pa
Growth Prospects:
The existing owner has recently taken over the full time job and reins of running a family business (which she was previously involved in but on a part time basis).
The business can grow organically; the foundations are very strong (in store, on line and from an operational perspective). The website is very well designed and works as a shop window – many customers arrive in store having viewed on line, the items that they want to touch and try! Web site sales remain at low levels - £20k last year – but represents an area of growth opportunity.
In store sales revenues will grow faster given its geographic location but further growth is not simply a question of the new owner having more time than the current owner; the new owner, of course, will also need a passion and an understanding for this type of business.
If you can imagine yourself owning and leading this fabulous business then please enquire immediately. We are searching for a discerning buyer who will appreciate what has been built to date.
For further information and an in-depth conversation
Contact Mark Devonshire at TBA - London City Group Limited
25 Finsbury Circus, London EC2M 7EE;