Bridal Wear And Prom Retailer | | Bury St Edmunds Suffolk | | Bridal Wear and Prom Retailer Confidentially offered for sale Ref No:AB200 Location: Bury St Edmunds, Suffolk Leasehold Available Asking price: £90,000 | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 55268
ADVERT IMPRESSIONS : 13,501 TIME(S) | | | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Cloths & Fabric Shops | | SALE: | Agent Sale | LEASEHOLD: | £90,000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
Established in 1992, this business is a retailer of wedding gowns, bridesmaid dresses, menswear, shoes, evening and prom wear.
Located in the heart of a thriving town centre, the business has become a destination business as a result of eighteen years of relentless determination on the part of the owner to deliver customer satisfaction. The business has created such a strong reputation that the nearest a competitor dares to tread is some 15 miles.
The business carries large levels of stock, a big plus point in terms of matching the right dress for each and every bride, bridesmaid and partygoer. Sizes available range from 6 to 30.Numerous designers, styles, fabrics and colour schemes are sourced from suppliers as far afield as Australia and the United States.
The business is constantly in demand, firstly due to lack of competition, secondly due to the very high levels of footfall passing the business daily and thirdly as a result of large numbers of recommendations from satisfied clients. Weddings are the perfect event to showcase the elegance and quality of your product and the business receives order after order due to this ‘domino style effect’.
The business is always looking to keep pricing competitive and discounts of up to 10% are available on orders of £4,000 plus. All budgets are catered for and wedding dresses retail from £300 up to £3,000.
The business provides an alteration service, dry cleaning service, has a dress maker for bespoke design requests and will even offer training to bridesmaids, mums etc on how to dress the bride to achieve the best possible look.
The business has forged successful partnerships with local retailers such as florists and confectioners serving the wedding market.
The prom side of the business is growing every year. It has helped to top up trade from December until July.80% of the prom business is hire, providing excellent margins.
Customer Service:
The business employs exactly the right type of people for this type of shop. Friendly and down to earth, each member of staff will take care of an individual customer from start to finish. By keeping one point of contact, the customer builds up a strong relationship with that member of staff and communication errors are avoided.
This business offers an excellent and unparalleled level of customer service in a welcoming and relaxed environment. The staff are all aware of the importance of making the buying decision part of the preparations for the day itself. Nothing is too much trouble and clients are encouraged to take as much time as is required to come to the right decision.
Key Strengths:
The business is superbly located. Over the course of eighteen years, the business has built up an excellent reputation that results in customers travelling 30 miles or more to use the services of what is considered the best bridal shop anywhere in the area.
The long serving members of staff are an asset to the business and are very popular with customers as a result of their expert product knowledge and personalities that are ideally suited to the role.
Growth and Expansion:
A full wedding planning service is something that could provide a straight forward extension to the current services on offer. Venue preparation and decorating is another lucrative option. Increasing sales of shoes, jewellery and accessories would seem to be a must. Increasing the menswear division of the business would also be straight forward.
Providing an ecommerce facility would also make perfect sense.
Employees:
The business employs two part time shop staff, one junior/apprentice and uses two self-employed dressmakers.
Advertising and Marketing:
The business has a presence at about 10 bridal fairs each year. Leaflets are distributed via related retail businesses in the area. Local hotels etc recommend the business to people booking the venue first.
The business has a well designed website that will produce more business once it is optimised.
Premises:
The business operates from an ideal location in the middle of a bustling town. The property is rented on an informal basis, but leasehold is available. Annual rent is circa £16,000 and rates are circa £7,500.
Business Hours:
Monday – Saturday: 9.30 am – 5.0 pm
Thursday until 7.0 pm
Security:
The business has a Redcare system and CCTV.
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. Turnover is circa £160, 000, gross profit is circa £102,000 and net profit is circa £36,000.Stock valued at circa £38,000 is included in the asking price.
Reason for Sale:
The owner is looking to emigrate.
Support and Training:
All necessary training and a full handover are available to ensure continuity of trading.
| | | | | | FOR SALE | | | | | REFERENCE: | AB200 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
