Computer shops for sale in Lancashire

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Ian McGregor (Nov 2013)
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Freehold Price: £575,000 Annual Turnover: £807,000 Annual Gross Profit: £196,000
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Business Description
This very well established and successful retail business has been trading in the centre of this town for some 15 years and has built up a sterling reputation in the area, and a loyal customer base, who appreciate the high quality products and superior service levels and installations this company provides. The business benefits from having very limited direct local competition provides its customers with a comprehensive sales and after-sales service.

The business several core revenue streams as well as two new ones which should increase both sales and profitability moving forward. These include:

• Retail sales of leading brand Audio Visual, TV, Satellite, PC, Phones and other electrical/ white goods (inc. ovens, fridges, freezers, dishwashers, laundry microwaves, small appliances, vacuum cleaners etc.)
• Domestic installation of such equipment and removal of old units
• Full after sales service inc. spares, consumables etc.
• New online sales of above goods via 2 new and secure e-commerce platforms.
• New commercial catering equipment/appliance supplies. This was developed due to market demand in the area and at time of this business going to market has only been trading 6 months. Sales to date have been impressive with good margins being achieved. Business has its own catalogue listing circa 20,000 lines from leading brands.

The firm is very well established within its market, providing a ‘one stop shop’ to many of its customers with a guaranteed range of products and services and the highest levels of quality. The business has built up a superb team of staff over the years and this includes senior manager and long serving sales and administration staff.

The business is ideally located in a High Street location in the town whose inhabitants appreciate the high quality brands the company retails. The company is a main dealer for leading AV /White goods and leading appliance manufacturers and has extensive knowledge and advice at its disposal. Customers travel significant distances to view and buy products due to the choice, the advice and more importantly for the after sales service that continues to be provided and includes delivery, set up and installation as well as removal of old items. The company is a member of a large buying group who assist them in their sales efforts via lots and lots of ongoing promotions. This supply partner enables the company to be competitive and offer speedy deliveries.

The company has literally thousands of historical retail customers on the database, many of whom are repeat clients who have used the company over many years. Typically retail customers are 35+ years of age. The company also has some property developers who purchase appliances and commercial items in bulk.

This customer base is rapidly expanding and the business is enjoying improved profitability in the current year since it developed and introduced its online e-commerce systems in 2014 and more recently the commercial catering equipment division. The cost of implementing these new revenues streams, and staffing them has already been met and these new platforms are already paying back this investment and this trend is expected to continue for a new owner.

The business is being offered for sale including the freehold. The premises are prime retail. Freehold is valued at circa £200,000. However the vendor would consider selling the business on a leasehold basis should a new owner so require, subject to negotiation.
Number of Employees: 07

Tenure: Freehold

Support & Training:

The vendor will provide full support and handover period to ensure a seamless transition of ownership.

Location Details:

The business operates from prime freehold retail premises on the main high street with excellent shop double frontage. Premises comprise main retail areas with adjoining rear warehouse and storage.
The retail premises are freehold and we are advised freehold valuation is circa £200,000. We are advised the adjoining rear warehouse is long leasehold. Annual rent is circa £7,000 p.a. Rates are circa £8000 p.a.

The current asking price includes the freehold property. However the vendor would consider selling the business on a leasehold basis should a new owner so require, subject to negotiation.

Listed by: Turner Butler
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