Established Shoe Repair and Key Cutting Business for Sale in Sidcup, London
Sidcup, London
- Status
FOR SALE
- Date Submitted:
15/08/23
- Advert ID
518118
- Reference
14013_J / Rightbiz
- Call Agent:
- Leasehold: £54,995
- Turnover: £52,000 (£1,000 Per week)
- Net Profit: Not Applicable
Business Details
Established Shoe Repair & Key Cutting Business
BusinessStock included in the sale.
CoGoGo are delighted to offer to the market Prestige Shoe Repairs & Key Cutting, established in the 1950’s and owned by our client since 2013. Offered now for sale due to other business interests of our client.
Our client has invested over £25,000 into the business and purchased new equipment, re-modelled the shop, new electrics, added new signage and advertising posters to the front.
The business offers a full key cutting service, shoe and boot repairs, handbag and small luggage repairs, watch batteries/new straps and repairs, engraving and knife sharpening. There is also a small range of luggage, key accessories, batteries and shoe cleaning products. Prestige Shoe Repairs & Key Cutting further specialise in watch batteries/straps, watch/clock repairs and jewellery repairs. The business has a close relationship with a specialised jewellery and watch repairer who would be happy to continue his relationship with the new owner for any help they may need.
The business boasts a loyal customer base and the owner has built up an excellent relationship with local businesses and landlords. Prestige Shoe Repairs & Key Cutting have contracts with estate agents and dry cleaners for regular large orders of keys and shoe repairs.
Current repairs on shoes and handbags requiring stitching work is carried out on a traditional Singer sewing machine.
The business is set in a prime trading location on a busy High Street. Set amongst several car parks. There is a pay and display car park directly opposite the shop and also a '2 hour free' car park next to the row of shops on which the shop is located.
Full handover period offered.
Location
Prestige Shoe Repairs & Key Cutting is located on Westwood Lane a main High Street in Blackfen, Sidcup, Kent.
The highly visible shop is positioned alongside complementary independent retailers and is part of a larger range of shops. The business is also very fortunate to be on the same row as the newly refurbished Co-op which includes a large carpark with 2 hours of free parking. A new McDonald's is also opening in 2018.
Sidcup is an affluent part of south east London and the Kent borders; just approximately 12 miles south east of central London.
The business is well connected with both Welling, Falconwood and Sidcup, as well as being positioned behind the busy A2 which connects London to Dartford and Rochester and the M2 motorway.
A parking space is available for the new owner.
Premises
2 x display windows for retail displays.
2 x large upstairs windows can be used for further advertising.
Central door into customer waiting area.
Large square shaped service counter.
Following equipment included in the sale-
Model 700 3 phase finisher (with static converter)
Air compressor
Waterproofing machine checker (for watch repairs/sealing)
8 inch bench grinder
6 inch bench grinder
Singer sewing machine
Cash till
Berna cylinder key cutting machine
Keyline mortice key cutting machine
Jakey Colt key cutting machine
Jakey Colt key cutting machine (for Tibby keys)
Storage heater
Oil heater
Heat cabinet
The staff bathroom is located in the rear hallway which also leads to the back exit of the building into the small courtyard.
Security gate on outside of the rear door.
Upstairs:
Small kitchen area in a large open plan office with 2 x large windows overlooking the front high street (used as an office but could easily be rented out separately to earn extra income)
Tenure
This is a Leasehold sale.
Original lease length: 12 years.
Remaining lease: 6 years as of 2017.
Rent £9,000 per year which is very good for this sized unit.
Hours
Monday to Saturday: 8.30am – 5pm
Sunday: Closed
Staff
Run and managed by the owner.
Financial Profile
2016 accounts show a turnover of £52,000, with a gross of 85%.
Contact Agent
Listing Statistics
Contact the seller for more details, or book a viewing
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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.
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