Hilton Smythe welcomes to the market Kendrick Street Gallery. The gallery was originally established by our client over 11 years ago. The owner is now looking to sell the business due to the desire to focus on other business interests.
The business runs as an art gallery and displays a range of pictures around the premise. On the ground and first floor they offer a broad range of fine art products. They sell an abundance of materials such as oil paints, brushes, card, accessories and much more. This is the go to place for all your arts and craft needs. The business also offers picture framing. We are advised they are the only store in the town that offer this service.
The store currently generates an advised turnover of around £123,000 with a gross profit circa of 35% as per 2016 accounts. This is a fantastic turnover however we feel this could be increased.
We feel it could be boosted by introducing-
A small marketing and advertising campaign
Maximise the use of free social media
Extend opening hours
Update the existing website
Visit local schools, colleges and art groups
All of these ideas would help to increase the turnover and should be something the purchaser looks into. The current owner offers art classes which could be offered on a weekend to boost repeat clientele.
The business has a website http://www.kendrickstgallery.co.uk/ from which they promote products. This website is also e-commerce and allows customers to shop from home. This is a great bonus to the store as it can attract custom from a more further afield. The gallery is well-known to the locals and so the business receives a generous amount of repeat loyal trade.
This is a fantastic opportunity for a purchaser looking for a business that links in with their hobby of arts and craft. Our client has run this business to an exceptional standard and would be happy to offer a handover period to ensure there is a smooth transaction. Hilton Smythe highly advise early viewing, to avoid disappointment.
Kendrick Street Gallery is located in Stroud, Gloucestershire.
The business is situated in a prominent position in the centre of this bustling town. There is a plethora of retail stores, which attract large amounts of footfall daily. There are clothing stores, cake shops, convenience stores, jewellery stores, butchers, cafés and much more. This is a tourist location with a range of activities. There are beautiful scenic walks, high quality restaurants and places to visit such as the many parks, museums and of course this wonderful art gallery.
The town centre location means that the area benefits from great public transport and road connections. There are several bus stops and a train station located close by, which have regular daily routes out of town. The M5 motorway is just a short drive away and the premise is just a walk away from the A46 that runs up to Cheltenham.
A beautiful period property set over three floors. The business boasts a large corner premise, on a main high street.
The ground floor of the business is the main retail area. This is set out well and is complete with bespoke shelving. The retail space is bright and airy due to the many windows across the front of the store. The windows are large and are used to promote stock with eye-catching window displays. There is a counter with till, card machine and wrapping area.
On the first floor of the store, there is a large room with high ceilings, this is used as further retail space and also a gallery area. There is a second floor which is used as a gallery and teaching space. There is a kitchen on this floor for staff use.
The premise is immaculately presented and is kept well maintained.
We are advised the business is leasehold.
Original lease length: 5 years
New lease to be negotiated
Rent: £11,000 per annum
The business opening hours-
Monday - Saturday: 9:30am – 5:30pm
The business is run and managed by our client with the help of 2 part time members of staff.
The business generates a turnover in the region of £123,000 with a gross profit circa of 35% as per 2016 accounts.
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