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BUSINESS REFERENCE : IK164 / RightBiz IK164-WARWICKSHIRE-£780,000 -SPECIALIST BATHROOM & ACCESSORIES RETAILER AND INSTALLATION | | | | | | Specialist Bathroom & Accessories Retailer and Installation All aspects of high quality bathroom installation services to retail customers with unique & stylish wall-tile alternative Ref no:IK164 Confidentially offered for sale Location: Warwickshire Leasehold in 3 x regional locations Asking price: £780,000 | | | BUSINESS LOCATION: | Undisclosed Warwickshire UNITED KINGDOM | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Bathroom & Kitchen Retailers | | SELLER: | Agent Sale | LEASEHOLD: | £780000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
This business was founded in 1998 by the Vendors with a generous combination of innovative insight and entrepreneurial spirit and has grown since to become a significant enterprise with a reputation for the quality and variety of its products, brands, service and reliability.
The business occupies large premises in each of its three regional locations, with significant parking and frontage with the retail showrooms on the ground floor and offices on the first floor of one. The business retails most of the main manufacturers of bathrooms and an extensive collection of bathroom and plumbing accessories to both the general public and to trade suppliers and installers.
The portfolio stretches across the spectrum from the traditional to the highly ultra-modern and contemporary and includes specifically a specialist wall product that requires the specialist expertise intrinsic to this business.
The business has consolidated an enviable position in the region since it has established its business operations around the installation of bathrooms and accessories that they supply only and have not found the need to extend the installation service as a separate concern. This clarity has proved successful in establishing trust with customers and enabling them to make a purchase decision based upon the whole service from variety in product to completion of their bathroom.
The vendors have been involved in the business since its first days of trading and can offer considerable advice and information concerning all aspects trading in the region.
The products are displayed in extremely attractive settings providing the customer with the fullest possible context for choice options that include toilets, baths, showers, screens 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 to a suitable degree in technology and has an up to date administration and accounting system. The business also benefits from a very small requirement for customer credit and essentially trades with deposit payments required and the final payment on satisfactory completion.
Customer Service:
The business considers simply that happy customers come back and on that simple basis has maintained levels of product and service quality intended to best guarantee that happiness such as free computer aided design and consultation on and off site. The results of this commitment are evident in the degree of return custom and the choice of this business by new customers over competitors.
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, backed up by an installation service of high repute, gives it its competitive advantage.
The business is an organisation where the vendor has, over time developed and nurtured a name and reputation that has resulted in customer relations founded on a history of trading satisfaction and not contingent upon particular relationships with any of the vendors.
· Independent specialists in unique decorative panels - no more tiling
· Hundreds of successful bathroom installations every year
· Experienced fitting teams - no external contractors
· Huge range of bathroom suites and accessories
· Free quotations and delivery service in the area
· Excellent parking and friendly knowledgeable staff
Growth and Expansion
The current market for this business’s products is stable and is forecast in the longer term for significant growth. 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 business levels, reputation and customer base of this company. With a strong demand for this business’s products, combined with a capacity to increase turnover, a new owner contributing fresh ideas will have every advantage of building on an excellent platform.
This business maintains an extensive base of satisfied customers, who appreciate the company’s superior products and service. There are many excellent avenues for growth, especially with investment in marketing including advertising and as yet underexploited internet opportunities, where the business has lacked in its aggression in the past.
Technology
Administrative systems have been implemented to provide the required technology for a modern and efficient business.
Advertising and Marketing
The business has used advertising in the past in local newspapers and there are excellent opportunities to widen this activity and to continue the business’s internet activities to market the business more aggressively and to significantly increase turnover.
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. This has resulted not only in sales but also in the offer and production of high profile trade magazine features and articles.
Employees
The business employs 2x managerial full time staff members, 1x sales manager, 5x fitters, 1x office administrator and 2x delivery drivers, there are also 2x part time sales staff supported by trusted & loyal installation sub-contractors, who together with the 2x vendors are responsible for the day to day operations.
Reason for Sale
The business is for sale as a result of the vendors’ belief that since the business is very well poised for growth, the time is right for them to sell and move on to a home abroad and follow other areas of interest.
Premises
The welcoming, comfortable and extensive showrooms are located in three easily accessible areas in Warwickshire:
1. Displays on one floor, in addition to offices and facilities on a first floor and has a combined area of approximately 5,000 square feet. 5 years remain on a renewable lease. Rent is paid annually at circa £15,000 with rates payable of circa £6,000.
2. Displays on one floor, in addition to offices and facilities and has a combined area of approximately 3,500 square feet. 4 years remain on a renewable lease. Rent is paid annually at circa £21,000 with rates payable of circa £6,000.
3. Displays on one floor, with offices and facilities on a first floor and has a combined area of approximately 3,500 square feet. Rent is paid on a rolling agreement at circa £1,000 per month with rates payable of circa £6,000.
Each of the premises is located on a busy and popular industrial estate, benefitting from extensive parking and easy to find locations.
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, enjoys a strong Order Book, good gross and high net profit and has shown consistent performance over 9 years trading.
Sales revenue is circa £1,100,000 per annum with pre tax profit of circa £105,000 and gross profits of circa £308,000 and our client feels that with a commitment to the opportunities illustrated, the business could dramatically increase its revenues.
Stock assets are valued at circa £127,000.
Support and Training:
The current owner will provide all necessary training and all relevant contacts to allow continuity of trading. | | | | | CONTACT: | TURNER BUTLER | | TELEPHONE: | 01895 25 6000 | | REFERENCE: | IK164 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
