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BUSINESS REFERENCE : AI018 / RightBiz HARDWARE STORE- RETAILERS OF HARDWARE, IRONMONGERY & DIY GOOD | | | | | | Hardware Store- Retailers of Hardware, Ironmongery & DIY Good Confidentially offered for sale Ref No: AI018 Location: Bristol Area Asking Price: £250,000 | | | BUSINESS LOCATION: | Undisclosed Relocatable UNITED KINGDOM | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Ironmongers | | SALE: | Agent Sale | LEASEHOLD: | £250000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
This business was established over thirty-three years ago and has remained in the same family ever since. It has been in the same high street location since its inception and is now a highly respected and integral part of the local community with a customer base that encompasses several generations of many local families and businesses. Without question it is the largest and leading privately owned hardware store in the region.
It would be easier to list what it doesn’t sell rather than try to list the extensive range of household goods and DIY equipment. Suffice it to say it stocks everything from the smallest screw right through to electrical and white goods and garden equipment.
Customer Service:
This shop doesn’t just retail hardware; it offers a real Aladdin’s cave of goods and a buying experience provided by old-fashioned customer service and courtesy. The staff are all long serving and extremely knowledgeable. Each department has its own manager responsible for stock control and purchasing. As such there is a very real feeling of responsibility and accountability which is reflected in the way that every customer is treated.
Key Strength
Superb high street location
Legendary reputation
Huge repeat customer base
No local competition
Growth and Expansion:
There is a good opportunity to grow this business. The operation presently is restricted to the ground floor of the substantial high street premises leaving the first floor available to lease out to a complementary business or to develop and stock a range of additional products.
In addition the business does not use a computerised stock control system that would invariably result in some cost reductions.
Employees:
One owner
One store manager
Five department heads
Two part time staff
Advertising and Marketing:
The business does not carry out any advertising nor does it have a website
Premises:
These are very substantial premises covering a total of 3700 square feet on the ground floor with a further unused area of circa 1200 square feet on the first floor. The renewable lease has a further two years to run and carries an annual rental of £34,000 per annum. There is ample parking nearby.
The premises also plays host to two smaller operations who pay a rental to be located within the store. One is a key cutting franchise that pays a fee of £13500 per annum rent and the other is a smaller cake decoration company who pays £6500:00 per annum
Financial Information:
The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler. The company enjoys an annual turnover of around £280,000 with gross profits being circa £145,000.
Reason for Sale:
After a long and successful career the owner has decided to retire and spend more time abroad.
Support and Training
The owner believes that the staff will be very willing to stay and be part of the business with the purchaser. Given the existing levels of accountability and experience the handover process will be straightforward. The exact period will be agreed as part of the overall sales negotiations | | | | | BUSINESS STATUS: | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | AI018 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
