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BUSINESS REFERENCE : AB105 / RightBiz LADIES FOOTWEAR AND FASHION SHOPS | | | | | | Ladies Footwear and Fashion Shops Confidentially offered for sale Ref No:AB105 Locations: South & South West Asking Price: £650,000 | | | BUSINESS LOCATION: | Undisclosed Relocatable UNITED KINGDOM | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Cloths & Fabric Shops | | SALE: | Agent Sale | LEASEHOLD: | £650000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
The company was established in 1979 and has focused its energies on retailing ladies footwear and non-designer clothing and accessories. It has grown organically over the years and now boasts five retail outlets on the South Coast from Hampshire down to Cornwall.
Its client bank is predominantly from the A, B social demographic with the average customer age being in the thirty-five plus age group.
It sources its products from a wide range of European manufacturers buying directly from the factories and also from trade shows in Dusseldorf and Milan. Its branded shoes include Gabor, Joseph Seibel, Pikolinos, Ugg and Birkenstock.
The company holds a database of circa three thousand customers. Customers mainly come from the immediate catchment areas surrounding each outlet but it does also benefit from the tourist trade. They all have one thing in common. They are looking for sensibly priced, good quality, slightly different products that can’t be found in the generic high street retail chains.
Equipment:
The business has a centralised EPOS system to help it achieve effective stock control systems.
Customer Service:
A substantial volume of business comes from repeat customers, and from their referrals to friends and relatives. The attraction lies in the pleasant and relaxed atmosphere in the shops, the friendly and knowledgeable staff, and the nature of the stock on offer. Well-known brand names are combined with ranges from carefully selected suppliers that offer a fashion “edge” and, whilst out of the main stream, still represent excellent value, and have a great customer appeal.
Key Strengths:
Well-located outlets
Own distribution centre
Good supply chain
Strong brand image
Excellent and well-decorated shops
Great staff
Quality brands
Well established
Growth and Expansion:
This is a business model that could well be rolled out into locations beyond the South West, with substantial implications for bottom line profits as a result of improved economies of scale and buying power.
Employees:
The company employs a total of twenty-nine staff. This includes three directors, five shop managers and circa twenty-one part time sales assistants. This is an exceptionally stable workforce with a number of staff having been with the business for many years.
Advertising and Marketing:
The company regularly mounts in season promotions, in tandem where possible with other local events, but relies mainly on the good word of its satisfied customers.
Premises:
1) City centre location in a prime shopping area. These are leasehold premises with an annual fee of £32,000. There is a ten-year lease with five yearly reviews. The lease was renewed in Sep 07. The rates are set at £9435.00.
The retail area is circa 550sq ft ground floor, with around 350sq ft of storage, with a further retail / basement / storage area of approximately 850sq ft. This is a highly desirable character premises.
2) City centre high street location. The leasehold premises provide 850 sq ft of retail space and a further 250 sq ft of storage. The fifteen-year lease was agreed in November 2003 at an annual rent of £40,000 with reviews every four years. The rates are an additional £13,764. There is a separate one bedroom flat included in the lease that is currently used for storage and staff facilities. It could be let separately
3) Main shopping location in a wealthy seaside town near to a popular and busy harbour. The premises are subject to a twelve-year lease agreed in May 2002. There are three yearly rent reviews. The rent is presently £19,500 with rates set at £6,438. The retail area covers around 500sq ft with an additional 340 sq ft for storage.
4) Character premises set in the market place of this rapidly expanding town. The property is subject to a nine-year lease agreed in May 2006 and having three yearly rent reviews. The annual rent is £24,000 with rates costing an additional £6,615
5) Freehold premises located in the centre of an old seaport and valued at £300,000. This ancient town is an extremely popular destination for both local shoppers and tourists alike.
The retail floor space is in the region of 870 sq ft with an additional 400 sq ft of storage.
6) Central distribution warehouse. Subject to an informal lease at a fee of £5400 per annum. This property is split into offices covering 300 sq ft and storage area of 500 sq ft. All stock passes through this centre prior to delivery to the retail outlets.
Every one of the retail premises is immaculately presented, carries the company brand and is decorated in the companies chosen colours. They are all located in prime locations and welcome the competition from other well-known high street brands. This is viewed as very positive as they offer slightly different, high quality branded products that the others don’t have access to.
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 presently has a turnover of in excess £1,500,000 and records strong gross profits of in excess of £650,000. All relevant accounting information will be made available by the vendor.
Reason for Sale:
The directors have decided to take early retirement.
Support and Training
Having spent many years building this operation up to be the success it is today the directors are eager to see it continue to flourish. As such they will be available to provide a professional and seamless handover for a period to be agreed as part of the sale negotiation | | | | | BUSINESS STATUS: | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | AB105 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
