Computer and Accessory Sales - Plymouth
Price:
Freehold - £425,000
Location:
Devon, Plymouth
Business Type:
Retail businesses, Service Businesses
HIGHLIGHTS:
• Computer repairs, maintenance and parts store.
• Established since 2001.
• A profitable and growing business that has first class local reputation and long term income generating potential.
• Multiple purchase options
• Well located business with easy customer access and parking.
BUSINESS:
The business was first established by the current owners in April 2001 in the Broadway Shopping Centre, Plymstock and then relocated to the current location in Plymstock Rd, Plymouth in September 2007.
This is a profitable and thriving retail computer repairs, maintenance and computer sales business, providing a local service to private consumers who either require a tailored computer hardware package to be built to order and installed or who require repairs and upgrades to be undertaken to their existing computers. There is also the retail shop and on-line sales (PlymComp.co.uk and PC-Anyway.co.uk), which generate income through the sale of a wide range of computer hardware and accessories.
Operated by the two full-time owners/directors plus one full time member of staff.
This business would ideally suit 2/3 family members/owners with the right background and knowledge to be able to undertake the computer repairs and continue the high quality of service upon which the business thrives.
The business has been highly successful in building an enviable reputation, striving for excellent customer care, quality and value for money a formula that has been proven to work well in building a loyal client base and client recommendations.
LOCATION:
Plymouth, Devon.
YEARS ESTABLISHED:
Established since 2001.
OPENING HOURS:
Monday to Saturdays: 9am to 5.30pm.
Closed Sundays and Bank Holidays:
TRADE:
Actual sales turnover for the first year of trading at the new location amounted to £196,289 net of VAT resulting in an abridged net profit of £33,246. If the business was under the ownership of two experienced computer technicians then there may be potential to make further savings to the wages bill.
Management accounts for year ended Sep 2009 reveal an increase in sales turnover to £223,516 net of VAT.
A further increase in sales turnover is expected in the current financial year.
REASON FOR SALE:
Planned retirement for health reasons.
STAFF:
The business is operated by the two full time owner directors and one full-time member of staff.
DESCRIPTION OF PROPERTY AND ACCOMMODATION:
• The detached property fronts on to a main road and was subject to a major refurbishment programme in 2007.
• Driveway to side leading to rear parking and double garage and storage.
• There is also free customer off road car parking to the front of the property for two/three cars.
• Individual/Separate doorways leading to the shop and the first floor flat separated by a large double glazed display window.
• Leading in to the shop there are a range of display and storage units together with a wall mounted TV and a customer service desk with display cabinets below.
• To the rear of the shop is the serving counter for the workshop.
• Door leads in to the inner hallway and provides access to the workshop/conservatory with work surfaces and storage below.
• Separate door from inner hall leads to staff kitchen and this then leads in to small office.
OUTSIDE:
There is off road free car parking to the front of the retail premises, which makes for easy access for customers and for the delivery of computer equipment.
There is also additional parking to the rear of what is a substantial site approaching a third of an acre.
TENURE:
The business can be acquired as either a freehold or leasehold (see under guide price below).
LEGAL FEES:
Vendors and Buyers each to meet their own legal costs.
LOCAL AUTHORITY:
Plymouth City Council
SERVICES:
We understand from the vendor that mains services for Gas, Electricity, Water and Sewerage, are connected to the property.
COMMENTS:
This is a unique opportunity with the sale comprising a strongly profitable business as well as a freehold asset with considerable long term potential for income generation and/or development.
GUIDE PRICE:
The business is being offered for sale by way of a variety of options as follows:-
1) Acquisition of the business only (plus SAV) for re-location to alternative premises: Asking Price £79,950 + SAV.
2) Acquisition of the business together with a lease on the current ground floor retail premises and workshop at the existing location: Asking Price £79,950 + SAV. The asking rental on the lease is £14,000 per annum.
3) Acquisition of the business and the whole freehold premises occupying a site of just under one third of an acre. The freehold includes:-
(i) The ground floor shop and workshop.
(ii) A substantial 3-bedroomed first floor flat with independent entrance, separate bathroom and separate wc and combined lounge/kitchenette together with excellent size landing space. There is also the potential to extend in to the loft space. The flat is currently producing a rental of £600 pcm and is subject to the existing assured shorthold tenancy agreement.
(iii) A double garage and storage at the rear of the site that subject to planning could become an alternative shop and workshop for the computer business, enabling the ground floor premises to then be converted to a ground floor flat for residential occupation either owner occupied or tenanted for investment (again subject to planning consent).
(iv) Alternatively the vendors will consider granting a new commercial lease only on the existing shop premises (excluding the sale of the actual computer sales and repairs business).
It can be seen therefore that the property has considerable potential in itself for income/investment earning potential.
Combined Freehold and Business Asking Price of £425,000 plus SAV
The purchase can be either structured around a share purchase of the company combined with a separate purchase of the freehold or as an asset acquisition excluding the company shares.
VALUE OF STOCK:
Approximately £20,000
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