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BUSINESS REFERENCE : AB120 / RightBiz RETAILER OF HIGH QUALITY MENS, LADIES AND CHILDRENS CLOTHING AND ACCESSORIES | | | | | | Retailer of High Quality Mens, Ladies and Childrens Clothing and Accessories Confidentially offered for sale Ref No:AB120 Location: East Midlands Asking price £350,000 | | | BUSINESS LOCATION: | Undisclosed Relocatable UNITED KINGDOM | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Computer & Equipment Sales | | SALE: | Agent Sale | LEASEHOLD: | £350000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
This family business was founded over 150 years ago and has had a presence in the local area ever since. It has grown to become a significant enterprise with a reputation for the quality of its products and service, offering premium brands such as Ralph Lauren, Ted Baker, Donna Karan and many more.
The business operates from a prime location in Lincolnshire and has established itself as one of the region’s leading independent luxury brand clothing retailer. Many current customers have been loyal to the business for many years and this has been due in no small part to the business’s competitive prices, quality products, first class service and attention to detail.
The business has always believed in the pursuit of excellence, constantly reviewing and updating its product ranges and service offer, ensuring that valued customers receive the very best service and quality of products.
The business has shown itself to be resilient in the face of competitive and economic forces and has maintained strong and incremental growth in recent years. The business is further supported by exemplary relations with key suppliers who have helped to ensure that whatever the product, service and availability is never compromised and that customers are as a result never let down. This commitment to supply chain relationships has underpinned this business’s abilities in product quality and sustained business growth.
No small part in the ability of this business to grow and sustain its profitability is due to the quality of its people. The business has a strong commitment to the development and welfare of its staff; which has contributed to the business retaining it’s position as the leading retailer of fashion clothing and accessories in the area.
Customer Service:
The business manages several hundred customers in any normal week and has the systems, processes and people to ensure that customers’ orders are satisfied. The most important aspect of customer management and satisfaction considered by the business is the quality and range of the products, along with the ‘in-house’ adjustments/tailoring service, and is responsible for the business retaining many customers and the reputation for which has led to the acquisition of many new customers.
High quality service, with flexibility, reliability and good value, every order request is important and customers always come first. The result is self evident in the business’s sustained level of repeat business.
Key Strengths:
The business is an autonomous organisation where the business owner has, over time developed and nurtured a management team capable of overseeing business operations effectively, reducing the need for constant or daily input from the vendors. This has resulted in customer relations founded on a history of trading satisfaction and not contingent upon the presence of the vendor.
The business is well established and profitable, with a loyal and growing customer base, retaining a high level of repeat business, particularly among a number of customers returning on a regular basis and having done so for many years.
The company has earned an outstanding reputation for its professionalism, service, reliability, flexibility and a willingness to help.
Growth and Expansion:
The current market for this business’s services is steady and is forecast in the near and longer term for continued growth. The business is well positioned to take maximum advantage of this growth as it occurs.
Key Opportunities:
This is an outstanding opportunity to build on the existing services of this company, with a strong demand for the middle to upper market fashion items, a new owner contributing fresh ideas and investment in resources will have every advantage of building on an excellent platform. There is scope to increase sales even further by creating a web presence , mail order and expanding the product range.
Employees:
The business currently employs between 15 and 20 staff, depending on the season, including a full time manager who is ably supported by many long serving personnel.
Advertising and Marketing:
The business has used limited advertising in the past and there are excellent opportunities to increase this and market the business more aggressively to significantly increase turnover.
A high proportion of the business's revenue has been due to its excellent reputation for quality and service and strong word of mouth recommendation.
Premises:
The business is located in an easily accessible area in Lincolnshire and operates from a 2 storey, highly visible, High Street corner plot occupying some 7,500 square feet, including storage capacity, adjustments/tailoring counter area and administrative offices. There will be an option on a further 2,000 square feet in 2010, when the lease expires for the current tenant in the adjoining space.
The premises are superbly appointed and represent the professional qualities and service the company has built its reputation upon.
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 is financially stable with no borrowings, low overheads, positive cash flow and high gross profits.
Sales revenue is circa £1,100,000 per annum with Gross Profit margins in the region of 31%.
Reason for Sale:
After spending many years dedicating himself to the ongoing success of the business, the vendors has reached an age where he wishes to retire and enjoy the fruits of his labour.
Support and Training
The current owner will provide all necessary training and all relevant contacts to allow continuity of trading | | | | | BUSINESS STATUS: | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | AB120 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
