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BUSINESS REFERENCE : IK146 / RightBiz HIGH END, QUALITY BATHROOM AND TILE RETAILER | | | | | | High End, Quality Bathroom and Tile Retailer Confidentially offered for sale Ref No:IK146 Location: North West Asking price: £350,000 | | | BUSINESS LOCATION: | Undisclosed Relocatable UNITED KINGDOM | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Bathroom & Kitchen Retailers | | SALE: | Agent Sale | LEASEHOLD: | £350000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
This high profile bathroom and tile retailer has built up its business by providing a huge choice of high quality bathroom and tile products to customers on an “ex-stock” basis.
The current owners of the business have been in the industry since 1991 and have used their knowledge of the market to put in place a business with a superb infrastructure that offers one of the largest well equipped showrooms avaialble in the region to enable customers to browse and purchase products and designs from all the leading manufactueres within the bathroom industry.
As such the business has built up an enviable position in the region since it has established its business operations around the supply of bathrooms and accessories and have not found the need to extend their service offering into the installation service as a separate concern.
It is significant that this business has made such success of retailing the higher added value products and brands that it maintains exclusive contractual relationships with many of them and as a result often supplies these specific products to other retailers and installers, unable to establish a trading relationship themselves. It has agency agreements with amongst others
· Villeroy and Boch
· Kohler
· Heritage
· Grohe
· Twyford
· Bristan
The showroom is a real strength of this business, as is its location. The products are displayed in extremely attractive settings spanning some 10,000 square feet providing the customer with the fullest possible context for choice options that include toilets, baths, showers, wet rooms, screens, cabinetry, curtains, flooring, wall tiles and an extensive portfolio of accessories.
The business is further supported by exemplary relations with key suppliers who have helped to ensure that client service and product quality is never compromised and that customers receive the highest possible quality of service, leading to the existing high levels of return custom. This commitment to suppliers and customers has underpinned this business’s abilities in service, quality and sustained business success.
The business has invested in technology and has an up to date administration and accounting system. The business utilises Sage accounting software and has had developed a custom built IT system that effectively manages sales, stock control and invoicing.
Customer Service:
· A large range of specialist products in stock to suite most tastes and styles
· Top quality brands with high end specifications and guarantees
· Clients dealt with promptly and efficiently
· Knowledge, recommendations, planning and advice
This approach ensures the business enjoys very high levels of repeat business .
Key Strengths:
A primary strength of this business is its broad portfolio of exclusive products and brands on offer combined with the quality and size of the showroom facilities. It is these offerings that gives it its competitive advantage and fuels its sterling reputation in the market it serves.
Growth and Expansion:
There are many avenues for future growth within this business. The business only offers a limited installation service to its customers by choice. This area could easily be expanded with and in-house team being developed or further use of sub contract labour. The business has a huge database of satisfied customers and would benefit from further development of this database to maximise future sales opportunities.
The business currently serves the retail market, 99% of clients are the general public. There is no reason why it could not expand its operation to serve both trade and domestic clients alike. It could also widen its range of products to the trade to include associated plumbing materials.
Key Opportunities:
This is an outstanding opportunity to build on the existing business levels, reputation and customer base of this company. The infrastructure is already in place. With a strong demand for this business’s products and services and a captive market with high disposable income this business is well positioned for future growth. Further development of the company website and a more aggressive sales and marketing approach should secure impressive growth over the coming years.
Employees:
There a 3 full time sales and operations personnel within the business as well as a part time book-keeper and part time delivery driver.
Business Hours:
Mon/Tue/Thur/Fri/Sat 10am-5pm
Sunday 10am-4pm
Wednesday Closed
Advertising and Marketing:
The business currently undertakes no advertising whatsoever. It has never really felt the need to advertise instead relying on word of mouth recommendations, repeat business and customer referrals to generate income. The location itself is very high profile. Being situated on a retail park with many complimentary stores nearby ensures the business enjoys high levels of footfall.
Premises:
The business operates from a superb modern retail unit on a prominent retail park in the town. Total floor area is circa 10,000 square feet, 90% of the space being taken up with the superb showroom facility. The remaining 10% is offices, toilets, kitchen and storage. The building is leasehold with some 20 years remaining on the current lease. Current rent is £100,000 p.a. Rent reviews are every 5 years. Rates are approx £30,000 p.a. The unit has extensive customer parking and is facing the main road giving it excellent frontage and exposure.
The company also has a further 10,000 square feet warehouse facility. This is on a 3 year lease and rent is circa £40,000 p.a.
Security
The unit is fully alarmed and secure with roller shutter doors to goods in area.
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.
Current stock figures are circa £650,000 (this includes showroom fittings circa £250,000 and Tile stocks of £400,000).
Sales revenue for the current financial year is expected to be circa £1,100,000 with resultant gross profits in the region of £400,000. The vendor feels that with a more proactive approach to marketing and an injection of new ideas and energy the business would enjoy further success in line with the expected increase in market demand.
Reason for Sale:
Retirement.
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: | IK146 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
