Profitable Furniture Business | | Undisclosed Hampshire | | Outstanding opportunity to acquire a profitable Retail Furniture Business selling furniture for living rooms and bedrooms. The business also sells beds. As stated the business comprises 2 separate showrooms situated approx. 6 miles apart. SHOWROOM NO. 1. is situated in a Retail Park on the outskirts of Fareham. The Retail Park includes a large Asda Store plus Topps Tiles & Wicks. Large Car Park for approx. 20 cars shared with Topps Tiles MODERN SHOWROOM with 8 display windows, fully carpeted, approx. 4,700 sq. ft. display area. New mezzanine floor approx. 3,500 sq. ft. Staff cloakroom with w.c. and wash hand basin SHOWROOM NO. 2. Spacious Showroom situated approx. 6 miles from Fareham, main road trading position, secondary shopping area, PORTSMOUTH, HAMPSHIRE. This furniture showroom was opened in August, 2007 and in our opinion offers tremendous potential for further development in the right hands. Customers car park for 10 cars GROUND FLOOR. Multi-windowed showroom with double door entrance, fully carpeted and well presented, suspended ceiling with inset lighting. Approx. area 7,240 sq. ft. Ground floor store Kitchenette Office Staff cloakroom with w.c. and wash hand basin. Large basement ideal for storage purposes. | | ADVERT NUMBER : 16920
ADVERT IMPRESSIONS : 21,048 TIME(S) | | | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Bathroom & Kitchen Retailers | | SALE: | Agent Sale | LEASEHOLD: | £100000 | | | | | BUSINESS DETAILS: | Location 2 Separate Stores approx. 6 miles apart, HAMPSHIREOpening Hours SHOWROOM NO. 1.
Monday - Saturday inclusive - 9 a.m. - 6 p.m.
Sunday opening - 10 a.m. - 4 p.m.
SHOWROOM NO. 2.
Monday - Saturday inclusive - 9 a.m. - 6 p.m.
Sunday opening - 10 a.m. - 4 p.m.Turnover SHOWROOM NO. 1. We are advised that the sales year ending 31st March, 2007 showed 832,326 with a gross profit of 322,103 i.e. 38.7%. AFTER WAGES OF 62,116. We are further advised that the gross profit before wages is in the region of 47%.
SHOWROOM NO. 2. Turnover for the first year is in the region of 250,000 inclusive of VAT, in our opinion offering tremendous potential for further development in the right hands. Gross profit 47% approx.Tenure SHOWROOM NO. 1.
We understand the premises are held on a new 10 years renewable lease from May, 2008 at a rental of 72,000 p.a. exclusive of rates for the first 5 years, with rent to be agreed thereafter.
Uniform Business Rates: 2,300 p.a. approx.
We are advised by the vendor that the sales area has recently been reduced to approx. 4,700 sq. ft. however, we are further advised that with the reduction of the Showroom area, there has been a saving of approx. 40% in respect of the previously paid rent and rates.
SHOWROOM NO. 2.
We understand the premises are held on a secure renewable lease, the present lease having approximately 9 years unexpired at a rental of 40,000 p.a. exclusive of rates for the first 4 years, with rent to be agreed thereafter.
(It should be noted that we understand there is a Break Clause on the tenants side only, exercisable in June, 2009, if desired).
Uniform Business Rates: 4,500 p.a. approx.
AS WILL BE APPRECIATED FROM THE ABOVE INFORMATION THE COMBINED TURNOVER IS AT PRESENT WELL IN EXCESS OF 1,000,000 P.A. HOWEVER, IN OUR OPINION THE BUSINESS OFFERS TREMENDOUS POTENTIAL FOR FURTHER DEVELOPMENT, ESPECIALLY WITH A MORE ACTIVE HUSBAND AND WIFE TEAM.
PERSONALLY INSPECTED AND HIGHLY RECOMMENDED
MUST BE SEEN TO BE FULLY APPRECIATED
REALISTICALLY PRICED FOR EARLY SALEPrice OFFERS INVITED TO INCLUDE THE 2 LEASES, GOODWILL, FIXTURES & FITTINGS in excess of 100,000 plus STOCK AT VALUATION (100,000 approx).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANTStaff SHOWROOM NO. 1. Mainly staff operated. Staff employed 3 full time plus 1 part time staff. Wages paid in the region of 1,200 p.w.
SHOWROOM NO. 2. Mainly staff operated. 3 full time staff employed. Wages paid 900 p.w. | | | | | | SOLD or WITHDRAWN FROM MARKET | | | | | | | | | | | |
