Designer Jewellery City centre boutique.
Ref.AB088 Location MidlandsAsking Price £ 198,000Confidential offered for sale | |
| Asking Price Includes: City centre boutique fixtures & fittings. | | Finance available to buy this business subject to status. All regulated business is passed to independent financial advisors who are regulated by the FSA | Business profile: | This boutique style fashion designer jewellery business was founded by the vendor in 2003 and has become a significant Midlands City centre enterprise with a reputation for the quality and variety of its designer products, customer service and reliability.
The business aims to satisfy every one of its customers needs by displaying a wide range of stock with a starting price point of below £50. Its stylish boutique and responsive environment connects with its customers and offers one on one individual service and advice. The business stocks an exclusive blend sourced from local designers, London studios, European designers and far eastern pearl specialists. The business enjoys a unique close relationship with its designers which enable them to produce a fast and effective service on special orders and personal designs. Additionally the business benefits from being selected as the key jewellery destination for a leading UK style advisor who refers clients to the boutique to ensure that they have the perfect jewellery pieces and accessories to compliment their new wardrobe each season.
In addition to the lower priced stock items the business also stocks diamonds and high quality semi-precious stones. Sourced worldwide these are available in a variety of shapes, colours and cuts. All stones are selected to ensure that the highest quality is available for customers at the best price.
The business also offers a Wedding Band design and advice service. Wedding Bands are available in a choice of White Gold, Yellow Gold and Platinum in a variety of styles from traditional to more contemporary or designed to the customer’s exact requirements and specification.
The business enjoys a prime location in one of the busiest and most fashionable Midlands city centres where demand for this high fashion, yet affordable product range is high and has lead to yearly increases in sales and sustained margins. The business’s turnover benefits from its excellent reputation, numerous local endorsements and its prominent position among other successful and well supported high street shops, stores and banks which is evidenced by the substantial volume of passing trade.
The welcoming, comfortable, boutique style showroom currently displays on one floor, of approximately 469 square feet. The rest of the property consisting of a below ground floor, is used as office administration and storage. The products are displayed in extremely attractive cabinet settings providing the customer with the fullest possible context for choice options that include a collection of high quality bespoke jewellery and high added value accessories; attention to detail and design have always been a high priority, providing their discerning customer with all that they require.
The business is further supported by exemplary relations with twelve independent high profile, high fashion, key designers, who have helped to ensure that product quality is never compromised. This commitment to quality, coupled with the emphasis on fashion has lead to the existing high levels of return custom which has underpinned this business’s abilities in service quality and sustained business success.
In addition to its stock items the business also offers a complementary design consultation service so that the customer’s perfect piece of jewellery can be created. In offering this service the business incorporates, professional drawings, hand made models and stone selection assistance. | Customer Service:
The business considers simply that happy customers return time and time again and on that simple basis has maintained levels of product and service quality intended to best guarantee that happiness. The results of this commitment are evident in the degree of return custom and the year on year increases in turnover.
This business places tremendous importance on maintaining and building upon its excellent reputation for customers care and high added value service. This jewellery business has built its reputation as a leading merchant through its commitment to the key balance of high quality bespoke designer products at affordable prices creating a friendly yet sophisticated shopping experience.
Key Strengths:
The vendor has over time developed and nurtured a small management team and a significant local reputation for bespoke products and service, one that will continue to grow without the vendor’s daily management input.
The quality of the City centre location cannot be overstated since its prominence guarantees access, visibility and footfall, the quality of the showroom plays no less a part in meeting customer expectation as created by the large and discrete window, ensuring privacy and discretion for the area’s clientele.
The business is well established and profitable, with a strong and increasing customer base, retaining a high level of return custom. The company has earned an outstanding reputation for its honesty, service, reliability, and customer experience, the highest quality products and highly knowledgeable and experienced staff. The result of this combination of strengths is a clear competitive advantage.
Growth and Expansion:
The current market for this business’s products is extremely buoyant and is forecast in the near and longer term for significant continued growth. The business is well positioned to take maximum advantage of this growth as it occurs. This is an outstanding opportunity to build on the existing business levels and customer base of this company. With a strong demand for this business’s products, combined with a capacity to increase turnover, a new owner contributing fresh ideas will have every advantage of building on an excellent platform.
This business maintains an extensive database of satisfied customers, who appreciate the company’s superior products and service. There are many excellent avenues for growth, especially with investment in diversification and extension of product lines, marketing and underexploited internet e-commerce opportunities, where the business has lacked aggression in the past. Corporate market targeting, Party planning promotions, loyalty card schemes and the introduction of numerous other previously untapped pro-active marketing initiatives would allow the new owner to drive this business forward accordingly. | | Premises:
The business is located in an easily accessible main road City centre modern retail unit. The premises consist of circa 1,120 square feet and include a showroom, storage, workshop and administration. The premises offer room for expansion and development on the below ground floor currently underutilised, subject to approval. The premises are self contained, with alarm system, security grill and C.C.T.V.
The premises are Leasehold and the annual rent is circa £18,000 per annum.
Business Hours:
Monday to Saturday: 10am – 5pm.
Sundays: 11am – 4pm | Advertising and Marketing:
The business has used limited advertising in the past. There are however excellent opportunities to increase this and to implement online purchasing via the business’s comprehensive website. Historically a high proportion of the business's revenue has been due to its excellent reputation for quality and service, its location and strong word of mouth recommendation. | | | Financial profile: | The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.
The business is financially stable with low borrowings, low overheads, positive cash flow, good gross and net profit and has shown consistent growth of circa 20% year on year.
Sales revenue is circa £275,000 per annum and Gross Profit is circa £126,000. | Employees:
The business employs 1 Store Manager and 1 "award winning" Goldsmith. In addition there are 2 other part time members of staff who together with the vendor are responsible for the day to day operations. | Support and Training:
The current owner will provide all necessary training and all relevant contacts to allow continuity of trading and would also be prepared to provide ongoing support and guidance if required on a part time consultancy basis. | Reason for Sale:
The business is for sale as a result of the vendor’s wish to spend more quality time with her very young children. | | Turner Butler Disclosure Statement: This statement applies to information relating to any company or other undertaking or business advertised for sale by Turner Butler (a 'Business') The information supplied by Turner Butler on its website or in any other promotional material ('the Information') is not and is not intended to constitute an offer for sale of the Business or any assets of the Business or of the shares of any company which owns the Business. For the avoidance of doubt there is no intention to create a legal relationship which will only come into existence when a written contract for sale and purchase of the shares in or the Business has been entered into The Information provided is not intended to address your particular requirements. Further the Information does not constitute any form of advice recommendation representation endorsement or arrangement by Turner Butler and is not intended to be relied upon in making (or refraining from making) any specific decisions. Any agreements transactions or other arrangements made between you and any client of Turner Butler are at your sole risk and responsibility. The prospective sellers of the Business have provided the Information to Turner Butler. The Information has not been verified by Turner Butler. You must carry out your own due diligence and satisfy yourself as to the accuracy of all matters. In the case of the sale of shares in a Business the Information has been prepared on the basis that the shares will consist of or include more than 50% of the voting shares and that both the seller and the buyer is either a body corporate, a partnership, a single individual or a group of connected individuals so as to fall outside the scope of regulated activities as defined by the Financial Services and Markets Act 2000. If you are considering a transaction which falls within the scope of such regulated activities you cannot do so through Turner Butler. Appropriate professional, legal and accountancy advice should be obtained before making or refraining to make any decision. Turner Butler does not accept any responsibility or liability for loss or damage of any nature that may occur by reliance on the Information. Neither Turner Butler nor any of our employees or agents makes any representation as to the completeness or accuracy of the Information nor do we accept any liability for any losses, costs, liabilities or expenses which may arise directly or indirectly from your use of, or reliance on the Information. This document is governed by and shall be construed in accordance with English Law and any dispute arising in connection with it shall be subject to the non-exclusive jurisdiction of the English courts Turner & Co (GB) Limited registered in England and Wales under company no. 2477988 of registered office Savoy House Savoy Circus London W3 7DA, trading as Turner Butler © Shaun Sweeney October 2006 |
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