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BUSINESS REFERENCE : AB113 / RightBiz RETAILER OF DESIGNER BRIDAL WEAR, BRIDESMAIDS, MOTHER OF BRIDE & EVENING WEAR | | | | | | Retailer of Designer Bridal Wear, Bridesmaids, Mother of Bride & Evening Wear 2 Prime Retail Operations with Exclusivity Confidentially offered for sale Ref No: AB113 Location: North Wales One Freehold/ One Leasehold Asking price: £85,000 plus stock at valuation | | | BUSINESS LOCATION: | Undisclosed Relocatable UNITED KINGDOM | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Cloths & Fabric Shops | | SALE: | Agent Sale | LEASEHOLD: | £85000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
This business was set up by the current vendor some ten years ago and in that time has established itlsef as a high quality yet personal retailer of exclusive bridalwear not to mention bridesmaids attire and more recently mother of the bride and evening wear.
It operates from two high profile retail sites, the second site having opened some two years ago such has been the demand for the designs, knowledge and service this business provides.
The business has in stock more than 300 gowns sourced from British and International award- winning Designers and Manufacturers many of whom are truly exclusive to the regions this business serves. If the business doesn’t carry a particular gown by one of their many reputable suppliers they are happy to source it for the bride such is the commitment to service.
Styles vary from traditional to contemporary, sizes from 8 to 32. The business also caters for weddings abroad and has lightweight crepe and chiffon fabrics on simple but stunning dresses at affordable prices. A full alteration service utlising highly experienced seamstresses is also available at competitive prices.
Because of this the business enjoys a client base and reputation for that matter that reaches far and wide with brides having travelled from all over the UK, Ireland and Europe to ensure they look their best on their wedding day.
Everything a bride and her attendants could possibly need to complete the wedding day look is available under one roof: The business is even able to offer an exclusive design service for tiaras, jewellery and veils.
Equipment:
All fixtures and fittings are included within the sale. Each site has been beautifully decorated with superb facilities to assist the bride in making the perfect choice for her big day.
Customer Service:
Both sites have friendly, experienced staff that are on hand to advise and guide brides through the process of choosing their dream dress whilst ensuring their privacy is always protected within beautifully appointed individual fitting rooms.
Because of the nature of its work customer service is at the centre of everything the business does. The business has received superb testimonials from satisfied clients over the years and continues to receive them today. It is also very proud to have received many awards and accreditations over the years and continues to get such recognition from the industry to this present day.
This business is a highly respected member of the Retail Bridal Wear Association, the gold standard of the industry with only around 10% of UK retailers eligible for membership. This ensures peace of mind for clients as member stores undergo rigorous checks annually for financial stability and quality of service.
Key Strengths:
This business is quite simply an outstanding performer in its field of expertise. Over ten years the business has amassed a host of awards and approvals from the industry including local, regional and national awards. These awards are testimony to the reputation of the business and the quality of service it provides. It is the attention to detail and superb after sales service that truly sets this business apart. The firm's highly skilled staff can provide expert advice on dress styles and shapes and carry out alterations to create the exact fit for the perfect wedding dress. All this ensures brides and their entourage have a truly memorable and enjoyable experience while choosing their dresses.
This level of service is evident in the very impressive profit margins the business is able to achieve, which ensures its financial success is every bit as good as its reputation.
Key Opportunities:
The business has only recently moved into evening and proms wear. This is a very large market and there are very encouraging growth signals for a new owner to further develop this area.
Another opportunity exists for both/either the sale and hire of formal menswear and attire for the groom.
Both these avenues would represent a natural development to a new owner as they already have a captive audience for the bridal wedding requirements, as would the development of an “in-house” alterations service, not to mention increased opening hours.
Employees:
The vendor works part time in the business through choice and has an excellent team of staff running both sites on a day to day basis.
• Two Full Time Managers/Sales (One per site)
• Two Full Time Sales
• Two Part Time Sales
• Three Saturday Sales
In addition to this the business utilises four highly experienced seamstresses on a freelance basis.
Advertising and Marketing:
The business is very active in the market and has a superb informative website that keeps customers up to date on current ranges and offerings as well as giving advice and details of other complimentary services including local companies who may be required for the complete wedding experience. It also advertises within local trade and public press and enjoys some very high profile editorial in the media due to its impressive awards success.
Because the business has exclusive supply agreements with many of the designers it partners with it is very well supported within the industry and often holds “Designer Days” and “Make-Over Days” as well as attending the regional bridal shows each year. It also enjoys the best form of advertising for any business, word of mouth recommendations and has an impressive portfolio of testimonials.
Premises:
The business is currently run two high profile retail sites some 25 miles apart.
Site One- The first site is freehold (circa £200,000). The vendor would consider selling the property should a new owner require or alternatively set up a suitable lease subject to negotiation. The premises are two storeys’ with excellent display frontage. Total floor area is circa 1000 square feet. Site comprises retail display areas, excellent changing facilities, store rooms, toilet and small office. The business is based on a major thoroughfare, easily accessible with plenty of public parking close by. The owner has spent a great deal on the décor and presentation of the building to retain its character and create the correct ambience. Rates are £1048 p.a. Current rent paid by business is £6000 p.a. Because of its location and reputation it enjoys very high footfall levels.
Site Two-The business has been at this second site for two years. The site is leasehold and positioned just off the major High Street in the town. The premises are again very tastefully decorated and provide a wonderful and comfortable location for the bride to be to indulge herself.
The site comprises ground floor retail and fitting rooms with a basement area utilised for office, stock rooms, kitchen area and toilets. Total floor space is circa 2000 square feet. There is room for expansion within the site. Current rent is circa £25,000 p.a. Rates are circa £6900p.a. There are 8 years remaining on the original 10 year lease. Business enjoys very high levels of footfall.
Business Hours:
Tuesday –Saturday: 1000-1600
Closed Sunday & Monday through choice
Security:
Both premises are highly visible and alarmed and have Redcare cover.
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 business achieved turnover of circa £277,000 for the last financial year, resultant Gross Profits were circa 50%. The business is undergoing strong growth at present with the second site really starting to make an impact on the business now that it has two years trading behind it. The business is very stable with excellent cash flow. Current stock levels are circa £53,000. Both sites are very well presented and fitted out with high quality fixtures and fittings. This represents an ideal opportunity for a new owner to take a well established business through its next period of growth.
Reason for Sale:
The current vendor is looking to move abroad.
Support and Training
The owner will provide full business familiarisation, training and handover as required to ensure a smooth transfer of the business to new owners, and would even be prepared to act as a consultant for an agreed period should a new owner so require, subject to negotiation | | | | | | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | AB113 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
