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BUSINESS REFERENCE : II002 / RightBiz FOOTWEAR AND ACCESSORIES WHOLESALER | | | | | | Footwear and Accessories Wholesaler Hundreds of product lines with new items added weekly in a comprehensive online catalogue and distributed throughout the UK Ref no: II002 Confidentially offered for sale Location: Northamptonshire Leasehold Asking price £810,000 Inc SAV | | | BUSINESS LOCATION: | Undisclosed Northamptonshire UNITED KINGDOM | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Shoes Shops | | SALE: | Agent Sale | LEASEHOLD: | £810000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
This independent and successful footwear, wholesale business was established in 2001 and distributes wholesale throughout the UK and other international regions a comprehensive portfolio of men’s, women’s and children’s footwear, brands and accessories to a loyal community of customers; predominantly to small traders and independents.
Orders are place for the most part online through the business’s secure website with online payment. For those unaccustomed to online purchasing the business offers a telephone ordering service, providing confidence and comfort for those new customers building a new trading relationship.
Product categories include:
· Ladies Sandals & Mules
· Ladies Shoes & Trainers
· Ladies Boots
· Men’s Footwear
· Children’s Footwear
· Belts and Accessories
The business wholesales hundreds of product lines with new items added weekly in a comprehensive online catalogue and distributed throughout the UK and internationally, though this remains an unexploited growth area of trade. The products are ex-chainstore, catalogue and manufacturer’s clearance stocks; with whom the Vendor maintains excellent trading relationships.
This company is well recognized and highly respected in the industry having developed a significant reputation through its combination of products and customer service. The company has become a “one-stop-shop” for footwear products and accessories for a great many of its customers and has the advantage of having service excellence as standard.
The business operates from a prime location in Northamptonshire and has established itself as a leading independent wholesaler for footwear products and accessories to the small independent trader. Many current customers have been loyal to the business since the very beginning and this has been due in no small part to the business’s competitive prices, quality products, first class service and attention to detail.
The business has always believed in the pursuit of excellence, constantly reviewing and updating its service commitment and its methods of business, for example its inventory management system and stock holding, ensuring that valued customers consistently receive the very best service and quality of product.
The business has shown itself to be resilient in the face of competitive and economic forces and has maintained strong and incremental growth over its nearly 7 years of trading. The business is further supported by exemplary relations with key suppliers who have helped to ensure that whatever the product, service and availability is never compromised and that customers are as a result never let down. This commitment to supply chain relationships has underpinned this business’s abilities in product quality and sustained business growth.
A key component has been customer service which is focused to a great extent on the quality and ease of use of the website, the place where the reputation of the business can be made or lost. Understanding this has meant that the business has prioritised this area such that it represents as much a high quality promise for its products as it does being a ‘shop window’ for the business.
The Website
The excellent website generates as many as 14,000,000 hits annually and has an identity that is easy to recall and has been designed to offer choice in a relevant and attractive context and make buying these value products as easy and enjoyable as possible, the website is secure, offering full ordering and online payment and fulfilment is guaranteed giving customers total peace of mind.
The website is search engine optimised and is divided into separate, clearly distinct product categories, the selection of products is updated weekly with special offers to customers communicated online.
Customer Service:
The business manages a great many customers in any normal week and has the systems, processes and people to ensure that both productivity and customers’ orders are satisfied. The most important aspect of customer management and satisfaction considered by the business is honesty and is responsible for the business retaining many customers and the reputation for which has led to the acquisition of many new customers.
The business trades with a minimum order value for delivery to the UK mainland of £100 +VAT with delivery charged and free delivery on orders over £200 +VAT.
International orders are managed separately and if an order is received before 12.30pm delivery can be made for the next working day.
High quality service, with flexibility, honesty, reliability and good value, every order request is important and customers always come first. The result is self evident in the business’s sustained level of repeat business.
Key Strengths:
This business has carved out a significant market share within its sector and is considered to be one of the best known in that sector and manages a qualified database of over 3,400 customers.
The business is an autonomous organisation where the business owner has, over time developed and nurtured a reputation and online ordering system capable of overseeing business operations effectively, reducing the need for constant daily input from the vendor. This has resulted in customer relations founded on a history of trading satisfaction and not contingent upon the presence of the vendor.
The business is well established and profitable with a loyal and growing customer base, retaining a high level of repeat business, particularly among a number of customers returning on a regular basis and having done so for many years.
The company has earned an outstanding reputation for its professionalism, service, reliability, flexibility, efficient order fulfilment and a willingness to help.
Growth and Expansion
The current market for this business’s services is stable and is forecast in the near and longer term for further growth, particularly with overseas customers. The business is well positioned to take maximum advantage of this growth as it occurs.
Key opportunities
This is an outstanding opportunity to build on the existing products and customer base of this company. With a strong demand for products combined with a capacity to increase turnover, a new owner contributing fresh ideas and investment in sales and marketing resources will have every advantage of building on an excellent platform.
This firm maintains an extensive base of satisfied customers, who appreciate the company’s superior services. There are many excellent avenues for growth, especially with marketing investment and forecasts which are showing early trends for growth and development.
Further development and growth lies with the addition of more phone lines, the introduction of sales personnel, new product sectors and the exploitation of new international sales areas.
The vendor believes that with these changes in place the business could very easily double its revenues in 18 months.
Technology
Specialised and administrative systems including easy website maintenance, have been implemented to provide the required technology for a modern and efficient business.
Advertising and marketing
The business has used limited advertising in the past and there are excellent opportunities to increase this and market the business more aggressively to significantly increase turnover.
The business has the benefit of an attractive website that comprehensively presents the business’s product lines and practical services as well as providing an insight into the ordering, payment and delivery.
A high proportion of the business's revenue has been due to its excellent reputation for quality and service and strong word of mouth recommendation.
Employees
The business currently employs the vendor, who is responsible for all day to day operations.
Reason for sale
After many happy and successful years of trading the business is for sale as a result of the vendor’s wish to retire.
Premises
The business is located in an easily accessible and popular Market Town in Northamptonshire; close to Motorways trunk roads and other urban centres and operates from a circa 8,000 square feet, including warehouse, showroom, facilities, kitchen, parking area and administrative offices.
Annual rent is currently circa £36,000 and rates are paid annually at circa £9,000, the current lease expires shortly and is available for renewal.
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.
The business is financially stable with no borrowings, low overheads, positive cash flow, high gross and net profit and has shown consistent high growth over 7 years trading.
Sales forecast revenue for this year is circa £650,000 per annum with Net Profit circa £190,000 and the vendor feels that with investment in sales and marketing combined with the expected increase in market demand the business could dramatically increase its revenues.
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: | II002 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
