Very Popular Wholesaler/Retailer of Fine Italian Shoes, Bags and Accessories
One of the most respected and trusted outlets in the area
Ref.AB078 Location London,East LondonAsking Price £ 260,000Confidential offered for sale | |
Asking price: £260,000 + SAV
Asking price includes:
Sales of circa £144,000 per annum
Excellent stock holding circa £100K
Sixteen years of successful operations
Excellent opportunity to grow
Superb East London location
Successful range of products
Very loyal clientele | | 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 wholesale and retail business of high quality Italian footwear and bags was founded 16 years ago with a generous combination of innovative insight and entrepreneurial spirit and has grown since to become a well-known enterprise with a significant local reputation for the quality and variety of its products, brands, service and reliability.
The business occupies prominent high street premises with glazed frontage offering high product visibility. The business wholesales and retails high quality Italian brand manufacturers of shoes and bags plus an extensive collection of ladies matching accessories, which include belts, purses and credit card wallets. The portfolio stretches across the spectrum from the traditional to the highly ultra-modern and contemporary.
It is significant that this business has made a great success both in the wholesale and retail of these products and has built an enviable reputation and a unique relationship amongst the discerning clientele in the immediate locality. The vendor has been involved in the business since its first days of trading and can offer considerable advice and information concerning all aspects of trading.
The welcoming, comfortable and extensive shop floor is approximately 300 square feet where the products are displayed to increase the customers selection ability for choice options. There is a storage area with at the rear of the premises of circa 115 sq. ft.
Within the building the basement provides another discrete 500 square feet of space, which is used for storing the merchandising stock.
The business is further supported by exemplary relations with key suppliers who have helped 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 high levels of return custom. This commitment to suppliers and customers has underpinned this business’s abilities in service quality and sustained business success. | 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 such as unrivalled value for money. The results of this commitment are evident in the degree of return custom and the choice of this business by new customers over competitors.
Key Strengths:
A primary strength of this business is its broad portfolio of highly popular products and brands on offer combined with the convenient location of the premises, backed up by an impressive selection of styles and sizes of high repute and never being beaten on price, gives it its competitive advantage.
The business is an organisation where the vendor has, over time developed and nurtured a name and reputation that has resulted in customer relations founded on a history of trading satisfaction and not contingent upon particular relationships with the vendor.
The business is well established and profitable, with a strong and growing customer base, retaining a high level of return custom; a great many of whom having done so on a regular basis and for many years.
The business is located on a major London road, with good frontage and near to many other popular retail outlets, banks and business societies.
The company has earned an outstanding reputation for its honesty, service, reliability, casual and open customer experience, excellent quality products and highly knowledgeable and experienced staff. | Growth and Expansion:
The current market for this business’s products is stable and is forecast in the longer term for significant growth. The business is well positioned to take maximum advantage of this growth as it occurs.
Key Opportunities:
This is an outstanding opportunity to build on the existing business levels, reputation 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 extra investment in marketing including advertising and as yet underexploited internet opportunities, where the business has lacked attention in the past. | Premises:
The business is located in an easily accessible area of London and trades from premises of circa 900 square feet, which includes the showroom, office and ample, easily accessible storage space in the basement of the building. Fully fitted the showroom is bright and fitted with light wood strip flooring.
The leasehold premises are offered with a 10 year lease at £12,000 per annum with business rates of £3,200 per annum.
This is an ideal opportunity to acquire an established business with the possibility that the freehold could be made available at the end of the ten year lease, and as such early viewing is highly recommended. | Advertising and Marketing:
To date the business has invested little money on marketing, and therefore most of its recommendations are via word of mouth from the many satisfied customers. There is an excellent opportunity to invest in a company website an expand into Internet marketing and e-tailing to enhance the company turnover. | | | 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, good gross and net profit and has shown consistent growth over the current owner’s 16 years of trading.
Sales revenue is circa £144,000 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:
The business employs the vendor only who is responsible for the day-to-day operations, managing showroom sales, general administration and installation management. | Support and Training:
The current owner will provide all necessary training and all relevant contacts to allow continuity of trading. | Reason for Sale:
Other business commitments. | | 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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