Gadget Shop for sale in Barkingside Essex, located in Ilford London
Ilford, London
- Status
FOR SALE
- Advert ID
643293
- Leasehold: £40,000 (Stock at valuation)
- Rent: £26,000 (£2,167 per month)
- Turnover: £160,000 (£3,077 per week)
- Profit: On request
Key Features
- Retail presence and visibility
- Retail store location advantage
- Room for expansion
- Room for operational growth
Business Details
Gadget Shop for sale in Barkingside Essex
Located in a prime position on a bustling high street, this well-established electronics store has been serving the local community since November 2013. With excellent transport links and surrounded by schools and various businesses, the shop is perfectly situated to cater to the needs of its customers. Known for its exceptional customer service—highly praised in Google reviews—the store offers everything from buying old electronic items to providing specialist repair services. This presents a unique opportunity for enthusiastic individuals looking to further develop the business, especially through online platforms that could diversify the stock on offer.
The shop boasts strong brand visibility due to its advantageous location. Its clean and organized retail space showcases a wide range of gadgets, ensuring that customers have an enjoyable shopping experience. To enhance customer satisfaction, the store offers an impressive warranty policy: 24 months on all products sold and 12 months on repairs. Furthermore, the flexible opening hours, from 10 AM to 7 PM (Monday to Saturday) and 11 AM to 6 PM (Sunday and Bank Holidays), make it convenient for shoppers to visit.
Attractive Buyback Program
Another fantastic feature of this business is its buyback programme, which rewards customers by offering an additional 25% value when they sell their devices back to the store. This initiative not only encourages repeat business but also helps in building customer loyalty.
The owner is selling the business due to a change in personal circumstances, presenting a perfect chance for new proprietors to step in and continue the legacy. Currently, there are four employees, allowing for a manageable operation, while the absence of an online presence opens up a realm of potential for growth and expansion. The store comes with fixtures and fittings included in the sale price of £40,000, which provides a unique opportunity for those wishing to enter the electronics retail market.
Financial Overview
The current turnover for the business stands at £160,000, with an annual rent of £26,000. Although turnover has not increased over the past year, the strong retail presence and visibility combined with the possibility for operational growth offer significant untapped potential for the right buyer. The new owners will also receive training to assist with the transition into this thriving sector.
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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.
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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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