business for sale

Well Established Fireplaces & Accessories Retailer and Installer

Businesses for Sale

Sale Memorandum

Well Established Fireplaces & Accessories Retailer and Installer


Ref.ET004

Location Hertfordshire

Asking Price £235,000

Confidential offered for sale


Finance available to buy this business subject to status. All regulated business is passed to independent financial advisors who are regulated by the FSA
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Asking Price Includes
Leasehold property
Excellent, high street location
Successful range of fireplaces and accessories
Sales of circa £340,000 per annum
Long and short term return custom
Many years of successful trading
Un patented technical know-how
Trusted and respected name
Excellent opportunity to grow
Competitive offering in the area
1,000 sq ft showroom
Excellent profit margins
Established customer base
Training and handover
Computer system
Significant Goodwill

Business profile:

This business was founded in 1979 by the Vendor’s family and came under present ownership in 1990 since which time it has grown to become a significant enterprise with a reputation for the quality and variety of its products, sales and installation service and reliability.

The business enjoys a prime high street location in one of the busiest Hertfordshire towns and benefits from its ability to offer a considerable portfolio of products that cross over the entire style range, from reproduction traditional to the most modern contemporary and has become a firm favourite with the area’s discerning clientele.

The open and extensive showroom displays on the ground floor, of approximately 1,000 square feet and is situated on a very busy traffic thoroughfare and as a prominent site enjoys significant frontage for attractive window displays.

The fireplace products are displayed in attractive style settings providing the customer with the fullest possible scope for choice options that include not only the complete fireplaces but also the considerable range of accessories.

At the rear of the property is approximately 500 square feet of storage area, facilities and external parking for two cars.
The business is further supported by excellent supplier relationships that help to ensure that client service and product quality is never compromised and that customers receive the highest possible quality of service, leading to the existing levels of return custom.
The business is an excellent opportunity for any investor seeking an opportunity to invest in a business that has a proven success record and would suit particularly an enthusiastic owner manager.
Customer Service

The business considers simply that happy customers come back 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 choice of this business by new customers over competitors.
Frequently foreign visitors will purchase an artwork and delivery is guaranteed on that basis to anywhere in the world.

Key strengths

The quality of the high street 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 inviting window display.
The business is well established and profitable, with a strong and growing customer base; many of whom having done so on a regular basis and for many years.
The company has earned an excellent reputation for its honesty, service, reliability, casual and open customer experience, excellent quality products and highly knowledgeable and experienced staff.
The result of this combination of strengths is a differentiation in its marketplace, resulting in a clear competitive advantage helped by the historic lack of close competition in the local market.
Key opportunities

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 base of satisfied customers, who appreciate the company’s superior products and service. There are many excellent avenues for growth, especially with investment in marketing including advertising and as yet unexploited internet opportunities, where the business has lacked in its aggression in the past.

Technology
The business has invested to a suitable degree in technology and has an up to date electronic point of sale (EPOS) system. The business also benefits from a very small requirement for customer credit and essentially trades with payment required on delivery.
Premises

The business is located in an easily accessible area in Hertfordshire and operates from a circa 1,000 square feet area including showroom, storage and facilities.
Advertising and marketing

The business has used limited advertising in the past and there are excellent opportunities to increase this and to introduce an internet presence to market the business more aggressively and to significantly increase turnover.
A high proportion of the business's revenue has been due to its excellent reputation for quality and service and strong word of mouth recommendation.
Growth and Expansion

The current market for this business’s products is stable and is forecast in the near and longer term for significant growth. The business is well positioned to take maximum advantage of this growth as it occurs.
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 no borrowings, low overheads, positive cash flow, high gross and high net profit and has shown consistent growth over 11 years of trading.
Sales revenue is circa £340,000 per annum and the vendor feels that with investment in marketing and the expected increase in market demand the business could dramatically increase its revenues.
Employees

With the exception of the vendor the business employs 1 sub-contracted registered installer who has worked with the business for many years
Support and training

The current owner will provide all necessary training and all relevant contacts to allow continuity of trading.
Reason for sale

The business is for sale as a result of the vendor’s wish to follow other areas of interest.
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

Next steps

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