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Recession proof profitable retail business for great value sale

City of Aberdeen, Aberdeen
Leasehold Price:
£60,000
Annual Rent:
£26,000
Status
FOR SALE
Advert ID
248017

Cash advancing stores do well when the economy is low. The rise in 'Cash for Gold' and 'Payday Loan' shops on the High Street from 2009-2012 satisfied the public need of cash. Stores like Cash Generator and Cash Converters survived the decline thereafter due to their broad product offering. It's a different retail landscape now, and what's certain is that the effects of Coronavirus lockdown will create a greater need of cash across the social classes.

Right Buy U is a great opportunity for a couple to become their own boss and run their own business, in a sector which will only grow in the future. It is main second hand electrical retailer and discount store in Aberdeen, with their buyback service a popular alternative to other Pawnbroking competitors in the area. This previously operated under the Cash Generator franchise but now is independent, creating a more profitable bottom line.

The store attracts over 2000 footfall and £9k per week sales with people under three main groups: bargain hunters, suppliers of second hand goods, and cashflow customers. With a wide range of products on offer, from Jewellery and Musical Instruments, to electronics and Sporting goods, there really is something for everybody to enjoy.

The store employs four full time and two part time members of staff. The business is available for sale due to the owners wish to take early retirement. A period of on going support can be offered if goodwill payment is offered.

The main product categories are Mobile Phones, Games & Consoles, Computers & Tablets, TV & audio, and Gold. It would be advantageous the incoming owners are tech savvy and previous experience of staff management.

The store is well established since it opened in September 2014, and with the closure of Cash Converters in 2015, it now holds the Aberdeen monopoly, guaranteeing your future income. These stores usually require a large cash investment, however due to eBay sales during the current lockdown, the current stock holding is low, making it more affordable to purchase. You will likely require additional £50k working capital to fund the buys counter, which can be obtained through bank funding with support of the business accounts.

Contact me for more information.

Listing Details
Leasehold Price: £60,000
Annual Rent: £26,000
Tenure: Leasehold
Location: City of Aberdeen, Aberdeen
Sector: Pawnbrokers, Discount Stores, Electrical Retailers
Financials
Annual Turnover: £500,000
Annual Net Profit: £50,000
Key Features
  • High Turnover
  • Unique Business
  • Owner Financed
  • Company for Sale
  • Attractive Business
  • Town Centre location
  • Fully Fitted
  • Adjacent to Multiple Retailers
  • New Lease
  • Incentives May Be Available
  • Established Business
  • Accounts Available
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What's nearby
Within 1 milei:
Shoe Lane (Bus Station)
Anytime electrical (Electrician)
International Christian Church "Blessing" (Church)
Aberdeen Arts Centre (Point Of Interest)
Tech it - Don't tech yourself! Repair shop for mobile phone, tablet, laptop, pc. (Electronics Store)
Kevs Inkhouse (Store)
Ashgrove Veterinary Centre Ltd (Veterinary Care)
Ashgrove Lounge (Night Club)
The Kittybrewster Bar (Bar)
Ashgrove Road (Transit Station)
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