Established 1965, Carpet Retailer & Installer, Leasehold premises in West Bridgford. 'For Sale'

Description

BUSINESS ‘FOR SALE’ AS A GOING CONCERN

Executive Summary

Established in 1965, Homecraft Carpets trades from a prominent corner location in West Bridgford. The large, open plan showroom displays an extensive range of carpets and floor coverings which are sold as both fitted or supply only. The range includes Carpets, Vinyl coverings, Carpet & PVC Tiles, Laminate Flooring, Engineered Wood, Artificial Grass, Rugs, Flooring Accessories and more; with some products/brands being exclusive to Homecraft Carpets in the Nottingham area.

This family-owned business began in premises on Central Avenue, in the heart of West Bridgford, moving to the current location some 20 years ago; due to requiring larger premises. Whilst the customer base is predominantly residential, Homecraft Carpets also supplies commercial clients.

The business is likely to appeal to either someone in the trade, or an existing carpet retailer. An existing retailer may be seeking to add a Nottingham branch to their business or absorb the significant client base within its’ own existing overhead structure, thus maximising profitability.

Future Prospects.

There are many positive factors to consider with a business such as Homecraft Carpets;

• The business demonstrates a stable and profitable trading history, and continues to trade in such a way.
• This is a turnkey business with substantial goodwill which should give confidence to the buyer.
• There is huge growth potential through the use of social media marketing, Google Ads, flyers and a revamped website.
• Further growth potential by utilising the extensive database of customers; email marketing, promotions and special offers.
• Seeking partnerships with trade customers.

The Business

The business enjoys a solid reputation, resulting in repeat custom and organic growth. Very little advertising has been undertaken historically. Materials are purchased upon receipt of a customer deposit. Full payment is taken on the installation (or supply of the product to the customer).

Financial Information

Historic Results (To the nearest £1,000)

12 m to:-                                    31.03.26                        31.03.25                        31.03.24

Sales                                        £370,000 (est)                £395,000                       £380,000

GP percentage                           26.5%   (est)                  32.5%                           26%

• The Gross Profit percentage is within the industry range. Full accounts will be provided upon receipt of a signed NDA.
• The business is being sold on a cash free debt free basis.

Premises.

Homecraft Carpets is located at 197 Loughborough Road, West Bridgford, Nottingham NG2 7EG. This is a prominent corner location of Loughborough Road; a main road, with a heavy flow of traffic.  The premises benefit from off road parking (shared with the adjacent business). The location is convenient for customers being out of the hustle and bustle of the centre of West Bridgford, yet among several other, non-competing, nearby businesses. West Bridgford is an affluent area, densely populated and surrounded by a number of other sought-after residential locations. The premises consist of an attractive, open plan showroom, plus office and external storage unit (NB: the storage unit is not specified in the lease). Combined they comprise over 1,000 square feet of ‘high street’ retail showroom space and storage. Specifically, the Showroom is 775 sq ft, the office and canteen 101 sq ft and the external storage unit 160 sq ft.

Lease Terms:

A 10-year lease, effective from March 2021, with a 6-year break clause. Rent of £20,300 pa excl vat.

Stock-in-trade.

Stock is generally ordered upon receipt of a customer deposit. However, stock may be held for end of lines which have been frequently requested, or for highly popular products. Stock is to be taken at valuation (estimated at £1,500).

Management and Employees.

The business and showroom are run by the vendor, with the support of 2 part-time staff members. One team member works 6.5 hours on Tuesdays and occasional Saturdays, and the other works 8 hours per week (flexible hours, administration role). In addition, there is a contractor that works 6 hours each Wednesday, occasional Saturdays, plus extra hours during busy periods or when covering the vendor’s holidays. There is potential that both the support team member and contractor will wish remain in the business.

Reason for sale.

This is a genuine retirement sale.

Price.

Offers are being sought in the region of £80,000.

Summary.

This family owned business has a long and sustained record of trading and profitability. As with any business trading consistently and profitably for so many years there is substantial goodwill. The vendor wishes to see the business continue to trade and grow and is willing to discuss a hand-over period. Further financial information will be provided on completion of a confidentiality agreement.

Please complete the ‘enquiry’ form for further details.