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BUSINESS REFERENCE : IK167 / RightBiz IK167-SOUTH COAST RESORT TOWN-£295,000-BESPOKE FURNITURE MANUFACTURERS & RE-UPHOLSTERERS | | | | | | Bespoke Furniture Manufacturers & Re-Upholsterers Confidentially offered for sale Ref No: IK167 Location: South Coast Resort Town Asking price: £295,000 | | | BUSINESS LOCATION: | Undisclosed Relocatable UNITED KINGDOM | | BUSINESS SECTOR: | Manufacturing | | TRADE TYPE: | Other | | SALE: | Agent Sale | LEASEHOLD: | £295000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
A first class opportunity to acquire a high quality, bespoke furniture manufacturer and re-upholsterer plus soft furnishings and accessories, retailing direct to the quality domestic marketplace.
The company was established by its owner in 1990, having the benefit of 20 years in the industry he saw a niche in the market for a high end bespoke manufacturer and had the added advantage of being able to offer re-upholstery as well as soft furnishings and accessories. Manufacturing takes place in the owner’s factory and all necessary parts and related accessories are bought in as required. The business offers a variety of styles and materials giving a complete solution for the living and reception areas found in most homes.
The welcoming, comfortable and extensive showroom is situated on the second floor and provides a total shopping experience with a fantastic range of furniture, soft furnishings and accessories on display. The workshop and offices are located on the ground floor. The premises comprise of a total of approx. 10,000 sq ft.
The business has a close and long standing relationship with their suppliers, which makes for continuity of supply. The vendor has been involved in the business since its first days of trading and can offer considerable advice and information concerning all aspects of trading in the region with approximately 40 years industry experience.
The business was formed with a combination of innovative insight and entrepreneurial spirit and since inception has grown to become a significant enterprise with a reputation for reliability, the quality and variety of its bespoke furniture, re-upholstery service, soft furnishings and accessories.
The business has been established in the area for 18 years and as such is considered a part of the fabric of the local community, enjoying a good location situated in a resort town on the south coast the business has a good client base within the locality prepared to pay for a quality and exclusive product and service.
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 levels 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 no provision requirements for customer credit and essentially trades with payment required by deposit and before delivery.
The business is an excellent opportunity for any investor seeking an opportunity to invest in a successful business that has an in depth knowledge about their products and significant scope for future development and growth, combined with the obvious lifestyle benefits that a successful operation of this nature adds.
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. 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:
The business is an organisation where the vendor has, over time, developed and nurtured a reputation capable of ensuring significant continued custom and reducing the need for constant input from the vendor. This has resulted in customer relations founded on a history of trading satisfaction and not contingent upon the relationship with the vendor.
The business is well established and profitable, with a strong and growing customer base, retaining a high level of return custom, a great many of whom having done so on a regular basis and for many years.
The company has earned an outstanding reputation for its honesty, service, reliability, friendly and open customer experience, excellent quality products and highly knowledgeable and experienced staff.
Growth and Expansion:
The current market for this business's products is stable and is forecast in the near and longer term for further growth. The business is well positioned to take maximum advantage of this growth as it occurs. It would benefit from further investment if a new owner wished to take it to the next level and ensure ever greater profitability.
Key Opportunities:
This is an outstanding opportunity to build on the existing business levels and customer base of this company. With a strong demand for this business's products, 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 this business's superior products and service. There are many excellent avenues for growth, especially with investment in marketing including advertising and as yet unexploited internet opportunities, where the business has lacked in its aggression in the past. There could be further avenues for growth through the trade and by wholesaling the products.
Employees:
Currently ten full time staff members largely run this business on behalf of the owner, who keeps an occasional watching brief with some quotation activity. In addition there are three part time workers and contract workers available on an as and when required basis.
Advertising and Marketing:
The business has used limited advertising in the past and there are excellent opportunities to increase this and to further invest in the business's website to market the business more aggressively and to significantly increase turnover. The business attracts the right level of customers by advertising in the aspirational magazines, which are aimed at the house and home.
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.
Premises:
The premises comprise approx. 10,000 sq ft over two floors. The ground floor accommodates a fully equipped workshop with storage and loading facilities plus offices and all usual amenities.
A superbly displayed and well stocked showroom is situated on the second floor exhibiting the excellent range of quality bespoke furniture, manufactured in-house, and also has displays of the soft furnishings and accessories available.
There is currently no lease on the premises as it has recently expired and a new fully renewable 15 year lease is available if required at preferential terms, however the business does benefit from being re-locatable to other premises if this should be required by a new owner.
Business Hours:
The showroom is currently open 9.30 – 5.00 Monday to Saturday with the workshop operating 7.30 – 5.15 Monday to Thursday.
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 low borrowing, positive cash flow and good gross profit and has shown consistent growth over 18 years of trading.
Sales revenue is circa £720,000 per annum with a GP of approximately 38% based on the owner not being completely hands on and benefiting from high staff levels and the vendor feels that with investment in marketing and the expected increase in market demand the business could dramatically increase its revenues.
Reason for Sale:
The owner has now reached seventy and has reluctantly bowed to family pressure and agreed to retire gracefully thus offering this exceptional opportunity to a younger and more go ahead owner.
Support and Training:
The current owner will provide all necessary training and all relevant contacts to allow continuity of trading on an ongoing basis if required. | | | | | BUSINESS STATUS: | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | IK167 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
