Leasehold Jewellers Of Margate In Kent | | Margate Kent | | Phoenix Business Agents are delighted to place onto the market this profitable leasehold jeweller’s which has been established since2008. The business has been in the hands of the current owner since 2008 and now wishes to sell due to other businesses. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 68401
ADVERT IMPRESSIONS : 8,193 TIME(S) | | | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Jewellers | | SALE: | Agent Sale | ASKING PRICE: | £230000 | LEASEHOLD: | £230000 | ANNUAL RENT: | £7300 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | - Situated in Northdown area of Margate in Kent.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent parking facilities nearby.
- Area earmarked for regeneration.
- Area offers exceptional lifestyle.
- Very good tourist trade and sea and beach nearby.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with A28, A254, A299 and good railway links.
Business Details
The particular highlights of the business are:
- The owner may be prepared to accept staggered payments for the business, enabling the buyer to pay from profits although a lump sum sale would be more favorably considered.
- Ideally located concern offering excellent lifestyle.
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £110,000 pa with a net profit of £65,000. (See financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business, also ideal for husband and wife team.
- This very good business opportunity provides watches, rings, earrings and most other types of jewellery and has
a repair shop on site. The business also buys 2nd hand pieces.
History
Phoenix Business Transfer Agents are delighted to place onto the market this profitable leasehold jeweller’s which has been established since2008. The business has been in the hands of the current owner since 2008 and now wishes to sell due to other business interests.
Services
This very good business opportunity provides watches, rings, earrings and most other types of jewellery and has a repair shop on site. The business also buy 2nd hand pieces.
Staffing
The concern employs 1 full time and 1 part time staff and the wages are approximately £25,000.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
The owner markets the business by way of a monthly magazine drop but does not have a website.
Competition
As far as competition is concerned there is only 1 and it is of very little concern to the vendor.
Market
The client base consists of local community, business persons and tourists.
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the product line to include better use of other side of the shop.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.
Property Details
The property is terraced and is part of a parade of shops and is approximately 16ft x 8 ft. The front is branded with an attractive glass front, and is dual fronted. There are electric shutters and a CCTV system. The main customer service area is carpeted with a counter area and repair section to the rear. It is very well presented and is very conveniently laid out.
To the rear is a store room, workshop, kitchen and staff facilities.
Equipment with Sale
All fixtures and fittings and equipment are included in the sale price and are valued at approx £85k.
Financial Details
The present turnover is £110,000 per annum with a gross profit of approx £77,000 and a net profit of approx £65,000. The wages are £25,000. The present value of the stock is £85,000.
The potential turnover of the business within the next 2 years is forecast to reach £140k given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.
Trading Hours
Monday to Friday – 9.00am – 5.30pm
Saturday – 9.00am – 5.30pm
Sunday - Closed
Tenure
The original length of the lease was 7 years with 4 years remaining. The rent is £7,300 pa with a review in 3yrs. The lease may be renewable or negotiable for longer term if required. The rates are £No charge at present.
Viewings
The owners are available for viewings at any time by prior arrangement.
Price: £230,000
Ref: 2344
Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller. | | | | | | FOR SALE | | | | | REFERENCE: | 2344 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
