Profitable Vaping Shop in South Croydon London for Sale
South Croydon, London
- Status
FOR SALE
- Date Submitted:
02/03/23
- Advert ID
509259
- Reference
B07226 / Rightbiz
- Call Agent:
- Leasehold: £44,995
- Turnover: £106,168 (£2,042 Per week)
- Net Profit: Not Applicable
Business Details
Well established Vaping Shop for sale
BusinessPlease quote reference B07226
CoGoGo are delighted to offer the sale of a well-established Vaping Shop with a renowned reputation amongst local residents. This is a superb opportunity to acquire a high turnover local business in an area with high footfall.
Vape Hut Limited was founded in 2017 and then purchased by the current owner in 2019. Since the acquisition the business has been a real labour of love and has flourished accruing many new customers along with a great reputation for customer care and service, a great range of products and competitive pricing.
The owner and staff pride themselves on offering a friendly, professional, personal expert service by offering tailored advice and ongoing support.
Their aim has always been to help smokers make the switch to the healthier alternative of vaping by listening to its customers and offering products to cater for all vaping needs and only stocks genuine and authentic products from world leading manufacturers including Aspire, Uwell, Voopoo, OXVA, Riot Squad, Vampire Vape, Elf Bar, and many more.
The well-stocked shop sells an unrivalled range of products including;
- E-Liquids
- Kits including starter, intermediate and advanced
- Batteries, chargers & cables
- Tanks
- Coils
- Disposable vape devices
- “Superb customer service, friendly staff, great product range. highly recommend”
- “Best vape shop in Croydon, recommend to anyone that vapes, the staff are very helpful. Go and try them. Massive range of Nic salts and juices”
- “The people who run this shop really know their stuff”
This well-established business occupies an enviable trading position in a busy area of South London. The owners have secured a strong customer base and exceptional reputation.
There is plenty of scope to develop the business further with the introduction of a new online marketing drive to boost online sales and longer opening hours. A new owner may also look to expand product lines.
This proposition would ideally suit an owner-operating team who could push the business forward and build upon the solid and impressive trading foundations. It is a turnkey business opportunity, and the current owners are happy to offer a handover to ensure the continued success
Location
The business is located in South Croydon, very close to the main shopping areas of central Croydon, Orpington & Bromley
The business occupies a prominent position in the middle of a shopping parade with Aldi & Iceland at one end and Sainsburys at the other end.
Premises
The business occupies a compact but well laid out ground floor premises that are ideally suited to the trade. The premises include a bright and well stocked shop along with a stock room and WC.
Tenure
We are advised that the business is being sold on a Leasehold basis (FRI lease), currently on a 5 year lease. The rent is £12,500 per annum.
There are no business rates payable as the business is exempt under current legislation.
Hours
The current trading hours are -
Monday to Saturday: 09:30 – 18:30
Sunday: 10:00 – 16:00
Staff
The business is run by the owner and the shop is managed by a very experienced manager (recruited in early 2022) who is assisted by two part-time members of staff.
Financial Profile
We are advised that the ex-VAT turnover for 2023 was £111,000 with a gross profit of £57,000 and a gross profit margin of 52%, compared to 43% for 2022. The forecast for 2024 is £120,000 with a gross profit of £68,400 and gross profit margin of 57%.
Further financial information can be made upon available upon request.
Contact Agent
Listing Statistics
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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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