Profitable Antiques & Jewellery Business in Herne Bay Kent for Sale
Herne Bay, Kent
- Status
FOR SALE
- Date Submitted:
08/01/19
- Advert ID
236077
- Reference
B04905 / Rightbiz
- Call Agent:
- Leasehold: £79,995
- Turnover: £228,674 (£4,398 Per week)
- Net Profit: £98,546 (44% Profit margin)
Business Details
Successful & Well Established Antiques Business
BusinessPlease quote reference B04905
CoGoGo welcomes to the market The Gold Exchange.
The Gold Exchange is a very successful and established business trading in antiques and Jewellery, with an average £2,000 scrap gold per week.
Current stock includes but not limited to:
• Clocks
• Figurines
• Jewellery
• Vintage posters
• War medals
The business has been trading since 2011 and due to the owner’s commitment and customer service they benefit from the majority of their business from local repeat customers and recommendations.
The Gold Exchange is currently being advertised on the local radio station which goes out 6 times a day, which has proved to be beneficial.
Scope to Improve
• New advertising and marketing campaign
• E-commerce website
• Maximise the use of social media
• Carry out Jewellery/watch repairs
• Rent out the basement
• Use online auction sites
CoGoGo highly advise early viewing to avoid disappointment.
Location
The Gold Exchange is located location along the High Street in Herne Bay, Kent
Herne Bay is a seaside town in Kent, with a population of 38,563. On the south coast of the Thames Estuary, it is 6 miles north of Canterbury and 4 miles east of Whitstable. It neighbors the ancient villages of Herne and Reculver and is part of the City of Canterbury local government district.
There is a pay and display car park behind the shop for customer to use.
Premises
The Gold Exchange is located on the ground floor and basement level of a mid-terrace 4 storey property.
Outside
Clear visible signage with full length display windows either side of the entrance,
Ground Floor
As you enter the shop you are greeted with display units either side of the shop displaying an array of antiques, figurines and Jewellery.
Two antique desks are to the rear of the shop which the owner uses as a desk/counter space.
There is a doorway to the rear right-hand side of the shop which leads to another room which is currently being used as an office area, to the left of this room is a small kitchen.
Basement
The Basement consists of a storage room and a strong room for more valuable items.
Equipment included in the sale of the business:
• 4 x CCTV
• Alarm System
• Desk
• Jewellery Cleaners
• Scales
• Display Cabinets
Tenure
The Gold Exchange is being offered a Leasehold business with 4 years remaining from the original 10-year Lease.
We are advised rent is £8,640 per annum with no rates currently payable.
Hours
Monday - Saturday: 9.00 am – 4.30 pm
Sunday: Closed
Staff
The business is currently run and managed by current owner.
Financial Profile
The Gold Exchange generated an advised:
Turnover - £228,674
Gross profit - £177,798
Net profit - £98,546
Assets - £5,000
SAV - £20,000
Please quote reference B04905
Contact Agent
Listing Statistics
Contact the seller for more details, or book a viewing
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Contact seller
Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
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