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Well Established Pawnbrokers & Second-Hand Retail shop for Sale - North Lincolnshire - Leasehold

Barton upon Humber, Lincolnshire
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Well Established Pawnbrokers & Second-Hand Retail shop for Sale - North Lincolnshire - Leasehold Photo 1
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Well Established Pawnbrokers & Second-Hand Retail shop for Sale - North Lincolnshire - Leasehold Photo 4
Well Established Pawnbrokers & Second-Hand Retail shop for Sale - North Lincolnshire - Leasehold Photo 5
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Well Established Pawnbrokers & Second-Hand Retail shop for Sale - North Lincolnshire - LeaseholdWell Established Pawnbrokers & Second-Hand Retail shop for Sale - North Lincolnshire - LeaseholdWell Established Pawnbrokers & Second-Hand Retail shop for Sale - North Lincolnshire - LeaseholdWell Established Pawnbrokers & Second-Hand Retail shop for Sale - North Lincolnshire - LeaseholdWell Established Pawnbrokers & Second-Hand Retail shop for Sale - North Lincolnshire - LeaseholdWell Established Pawnbrokers & Second-Hand Retail shop for Sale - North Lincolnshire - LeaseholdWell Established Pawnbrokers & Second-Hand Retail shop for Sale - North Lincolnshire - Leasehold
  • Status

    FOR SALE

  • Date Submitted:

    02/03/22

  • Advert ID

    291463

  • Leasehold: £99 (Stock at valuation)
  • Rent: £15,000
  • Turnover: £160,000 (£3,077 Per week)
  • Net Profit: On request

Key Features

  • Unique Business
  • Established Business
  • Prime Location
  • Town Centre location
  • Potential for Alternative Use
  • Offers Invited
  • Price Reduced
  • Attractive Business
  • Accounts Available
  • Close to Local Amenities
  • Fully Fitted

Business Details

Well Established Pawnbrokers & Second Hand Retail shop for Sale North Lincolnshire Leasehold

Introduction.

The Money Box business was established in 2011 and moved to Barton Upon Humber, North Lincolnshire in 2013 and then moved to it's current larger premises in 2017 to be able to meet the increased customer demand.

The Business offers a wide range of services and has become very well known in the area with a strong customer base already in place and with new customers using our services on a daily basis. The business benefits from a great passing trade, due to our excellent premises trading position. The business has a great reputation for it'S customer service and competitive pricing and also has the benefit from having no similar type of business within a 15 mile radius.

Location.

The Money Box occupies a prominent main road trading position in the centre of Barton Upon Humber, North Lincolnshire. Our premises is located on the corner of George Street and Market Place which is the busiest through road in Barton Upon Humber and therefore we benefit from fantastic passing traffic and footfall in this busy Market Town just south of the Humber Bridge and Kingston Upon Hull. The area is well linked by the A15 and with strong public transport and local parking.

The town of Barton Upon Humber has a population of approximately 12,000 plus many surrounding villages that use the amenities of the town including supermarkets, schools, parks, sporting venues, eateries and public houses. We are surrounded by independant retailers and larger nationals such as Boots, Lloyds Bank, Co-op and Wren Kitchens Head office site, which also offers increased passing traffic and footfall.

Reason For Sale.

The business is ideally suited to a hands on owner operator but due to the owner having other business interests and opportunities the business is now offered for sale. This presents an excellent opportunity for a new owner operator or team to take the business to the next level. The business may also suit an existing pawnbroker business looking to add sites to their existing portfolio.

Premises Lease.

We have a new five year premises lease agreement in place with a three year break clause. The annual rent is fixed at £15,000 per annum for the remaining term. The lease will be either be an assignment or a new lease agreed with the landlord with a suitable tenant. The premises also benefits from Small Business Rates Relief so no Business Rates are currently payable.

Staff.

The business currently operates with two full time staff members which includes the owner but could easily be run by a full time branch manager and part time staff as the business requires.

Opening Hours.

Monday to Friday 9:15am till 4:30pm, Saturday 9:30am till 2:00pm. Closed on Sundays. The business could benefit with increased opening hours.

Financial Details.

The Money Box has traded well since establishment and turnover has increased year on year and has a strong repeat customer base. This type of business is recession proof and also traded well during the Covid19 Pandemic. Financial Accounts for Year Ending 31st December 2022, Management Accounts up to 28th February 2023 and full financial information are available upon request.

Services we offer.

We currently offer a wide range of services in store as follows:

28 Day Buybacks.

Purchase of Pre Owned Goods.

Sale of New and Used Goods in store and on Ebay, Facebook Market Place etc.

We Buy Gold & Silver.

Western Union & MoneyGram Worldwide Money Transfers.

Payzone Payment Services.

Foreign Currency Exchange.

Laybys.

Official Independent Game Workshop Stockist

(We also offer a Mobile Phone, Tablet and Laptop Repair Service in store every Friday)

Business Premises and Fixtures & Fittings.

The business operates from a very secure building which was a former purpose built NatWest Bank. The business sale includes security fixtures and fittings such as; Bank style customer counter with toughened glass windows, Fully Monitored intruder alarm system, Fully monitored CCTV System covering all internal and external areas, secure lockable retail display cabinets, internal locking doors, safe and till systems etc.

The business occupies the whole ground floor area plus additional storage and staff areas on the first floor. The business sale also includes all operating fixtures and fittings as required such as office furniture, computer systems, tills, printers, storage units etc.

The business has large branding and signage on display internally and externally and also on the very secure bank style windows wrapping around the building which offers fantastic visual impact to passers by. There is well maintained and equipped staff offices, toilets and kitchen facilities along with plenty of storage areas throughout the premises.

Summary.

This well established business is being offered for sale at the asking price of £99  plus Stock at Valuation and Buyback Loan Book.

This business occupies an enviable trading position in a busy location in a fantastic secure premises with no competition in this type of business within a 15 mile radius. The business benefits from a great Brand Name and has a strong customer base and reputation in the local area. The business has a well established Ebay Business account with a 100% positive feedback rating and also is a Ebay Top Rated Seller plus we have well established social media accounts on Facebook, Twitter and Instagram.

There is plenty of scope to develop the business further by increasing opening hours, further online presence and sales outlets, increased social media coverage and online marketing, additional stock items for sale in store, marketing drive to add on further days for the weekly repair service etc.

This is a unique turnkey profitable business which rarely becomes available for sale which already has the solid and impressive trading foundations which is ready to be taken to the next level.

Early viewings are strongly advised to not miss out on this fantastic solid business opportunity.

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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.

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