West Midlands Stringed Instrument Retailer for Sale - Freehold, Stock, £55k Forecast Earnings
Undisclosed, West Midlands
- Status
FOR SALE
- Date Submitted:
02/05/23
- Advert ID
512507
- Reference
SMSB/VIOLIN / Rightbiz
- Call Agent:
- Leasehold: £199,500
- Turnover: £300,000 (£5,769 Per week)
- Net Profit: £55,000 (19% Profit margin)
Key Features
- Unique Business
- Established Business
Business Details
Excellent Retailer of Stringed Instruments With a National & International Client Base
A well established retailer of stringed instruments with an excellent reputation and strong customer base is being marketed for sale.
The predominant revenue stream is from the sale of instruments, but in addition the business also sells bows, cases, strings and other accessories and also has an instrument repair and restoration service.
Having operated from its current retail premises for over 15 years, it is well embedded in the local environment but also enjoys a strong reputation further afield, selling instruments both nationally and internationally. The freehold is owned separately by the vendors who will be happy to grant a new lease at market rate.
Currently in addition to one owner, who performs the MD role, there are two other employees.
The business delivered revenues of c £300k for the year ended Mar 2023 and is forecasting similar for the current year, delivering earnings before drawings for a single owner of c £55k.
There are significant growth opportunities including extending the range of instruments (eg guitar), developing a stronger online presence and developing a more pro active marketing strategy.
Having run the business for over 20 years, both owners are of retirement age and therefore seeking to transfer the business into new ownership. The guide price for 100% shares of the Company is £199,500 and the business will be transferred with a debt free cash free balance sheet with a significant stockholding contributing to a net asset value forecast at c £140k.
The vendors are keen to ensure a successful transition and will support any reasonable handover request.
The business is being marketed by www.SellMySmallBusiness.co.uk. Please do not attempt to contact the vendors direct.
Contact Agent
Listing Statistics
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Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
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Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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Contact seller
Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
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