Long Established Leasehold Jewellers In South Devon | | Paignton Devon | | Phoenix Business Transfer Agents are delighted to place onto the market this Leasehold Jewellers which has been established since 1981. The business has been in the hands of the current owner since inception and they now wish to sell due to retirement | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 71450
ADVERT IMPRESSIONS : 7,000 TIME(S) | | | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Jewellers | | SALE: | Agent Sale | ASKING PRICE: | £195000 | LEASEHOLD: | £195000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | - Situated in the Town Centre area of Paignton in South Devon.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent free parking facilities nearby.
- Industrial estates nearby.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the A3022, A380 and A385.
- Torquay, Newton Abbot, Exeter, Exmouth and Plymouth all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.
Business Details
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business (see below).
- Turnover in excess of £170,000 pa (see financial summary below).
- A business with great potential which has not been fully exploited because the owners have not used a website or e-commerce.
- An easily run operation.
- A good first time buyers business.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition due to the exclusive rights in the area to sell a number of high profile
International brands.
- Business enjoys superb local reputation
- The concern provides Jewellery, watches, collectables, repairs and ear piercing.
History
Phoenix Business Transfer Agents are delighted to place onto the market this Leasehold Jewellers which has been established since 1981. The business has been in the hands of the current owner since inception and they now wish to sell due to retirement.
Services
This very good business opportunity provides Jewellery, watches, collectables, repairs and ear piercing.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
The owner markets the business in various tourist publications and publishes adverts in the local newspaper but doesn’t currently have a website.
Competition
As far as competition is concerned there are 6 other similar businesses in this popular tourist destination but this business has exclusive rights to sell more than 12 high profile international brands (please contact Phoenix Business Agents for more details).
Market
The client base consists of local residents with a high volume of tourist trade.
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 opening hours to include Sunday trading during peak periods.
• 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, part of a parade of shops and is approximately 500 sq ft. The front is branded with an attractive glass front. There are electric shutters and a CCTV system. The main customer service area is carpeted with display units and shelving to the walls. It is very well presented and is very conveniently laid out.
To the rear is a store room. There is a toilet and staff facilities.
Equipment with Sale
All fixtures, fittings and equipment are included in the sale price and are valued at £25,000.
Financial Details
The present annual turnover is £177,277 with a gross profit of £74,605. The present value of the stock is available on request.
The potential turnover of the business within the next 2 years is forecast to reach £230,000 to £250,000 pa 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 Saturday: 9am – 5.30pm
Sunday: Closed
Viewings
The owners are available for viewings at any time by prior arrangement.
Price: £195,000
Ref: 2432 | | | | | | FOR SALE | | | | | REFERENCE: | 2432 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
