This lifestyle knitwear retail business was founded nearly 20 years ago by the current owner, initially from a Wiltshire market stall. Focusing on a cashmere range from a French supplier, the business expanded, initially increasing sales via private house fairs and then progressing to the large county shows, including Badminton Horse Trials, Burghley, The Game Show and Olympia.
The business currently operates from a home office in Wiltshire, but is easily relocatable.
While Covid meant that the normal county shows etc were cancelled through 2020, the business was able to successfully develop its online sales to compensate for the loss of shows, partially mitigating the impact on profitability. This therefore presents a significant growth opportunity for the business when it is able to reinstate sales from shows and events in addition to its online sales.
While the key focus of the business is knitwear, it has also added a limited range of shirts and dresses to extend the product range and in particular support summer sales. Customers are typically female and over 55, with high levels of repeat custom.
The vendor runs the business single handedly, on a fulltime basis in the months approaching Xmas but very much on a part-time basis through the summer.
Sales for the year ended March 2020 (pre-Covid) were c £119,000 generating owner earnings of c £20,000. Sales for the year to March 2021 at £63,000 were affected by the lack of county shows etc, but the forecast for the current year is strong, with the combination of online sales and sales from shows forecast to generate a turnover of £150,000 and owner earnings in excess of £30,000.
The guide price for assets and goodwill is £85,000 plus stock at value, expected to be around £20k.
The reason for sale is that the vendor is moving to Cornwall to join her partner’s business but is flexible over handover and will support reasonable requests.
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