Hilton Smythe welcomes to the market John Riley Carpets & Beds. The business was originally established by our client in 1997. The owner is now looking to reluctantly sell the business due to the desire to take a well-deserved retirement. This is a successful business that is well-known in this location.
The business specialises in the sale of carpets and flooring. They also sell mattresses and beds, which are also great sellers. The carpets are fitted by sub-contractors who have worked at the business for many years, they will continue working for the new owner if required.
The shop generates an advised turnover of around £242,000 per annum with a gross profit of around 40%. This is an excellent turnover that has potential to be increased. The business already has an excellent reputation for its quality of carpets, price of products and delivery service. However, our client has run this business at a steady pace to suit them, allowing for a new owner with a hands on approach to significantly boost trade.
There is several options for the purchaser to look into such as-
Advertise on social media
Upgrade existing website
Extend opening hours
Consider selling hard floor materials
Our client would be willing to offer a handover period to the new buyer which should allow for a smooth transaction period. This is a well-priced property that should not be missed. Hilton Smythe highly advise early viewing in order to take in the full-potential of the trade.
John Riley Carpets & Beds is located in Leek, Staffordshire.
The business is situated on a retail parade of stores in the town centre of Leek. There is an abundance of independent retail outlets and the area also has a large amount of residential property. Directly outside the shop are on street parking bays. Close by is a shopping centre with further stores, this includes well-known brands such as Ladbrokes and Farmfoods. This is a bustling town centre that sees heavy amounts of passing trade daily.
The area has great road connections that lead off into major towns and cities such as Manchester, Stoke-On-Trent and Sheffield. This is a great location for commuting as there is also great public transport. There are several bus stops dotted around the town and the closest train station is a 20 minute drive away.
The business is situated in a period style building, on a retail parade. The front of the property looks well-presented and is eye catching to passing trade.
Shop (Ground Floor)
Large widows and double doors to front creating a light and airy interior. This is a generous sized retail store with fluorescent lighting, beamed ceilings and pegboard to walls. There are carpet display stands, 6 roller carpet stands and a rug display area.
Through to the rear of the business is an office area and WC. There is also a store room with stairs up to the first floor.
Bed and mattress showroom (First Floor)
A generous sized showroom currently used for the display and sale of beds and mattresses. Twin Windows to front, beamed ceiling and period features, fluorescent lighting and a wall mounted fan.
The business is nicely presented with a traditional feel, well signed and maintained with free parking opposite the premises.
We are advised the business is being sold as a Leasehold opportunity.
Original lease length: 3 years
Remaining lease length: 1 year as of 2016.
Rent: £693 per month
The business is opening hours-
Monday: 9am – 5pm
Tuesday: 9am – 5pm
Wednesday: 9am – 5pm
Friday: 9am – 5pm
Saturday: 9am – 5pm
The business is run and managed by our client.
The business generates a turnover in the region of £242,000 per annum.
Gross profit 40%
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