THRIVING GIFT SHOP IN PRIME LOCATION (PRICE REDUCTION)
Price:
Leasehold - £29,995
Location:
Isle of Wight , Watchbell Lane, Newport
Business Type:
Retail businesses
The particular highlights of the business are:
- A well established business.
- Good loyal clientele and a tourist haven.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £56,000 with a net profit of £9240. (See financial summary below).
- A business with great potential.
- An easily run operation.
- A good first time buyers business and ideal purchase for couple.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides high quality gifts and cards.
History
Phoenix Business Transfer Agents are delighted to place onto the market this well established gift shop which has been established since 2006. The business has been in the hands of the current owner since 2006 and now wishes to sell due to retirement.
Services
This very good business opportunity provides gift and jewelery of a high quality local and international sourced.
Staffing
The concern employs no staff is run by the owner.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
The owner has a website.
No marketing or promoting of the business has recently been undertaken as the business is well known.
Competition
As far as competition is concerned there is another similar business as it is a tourist haven
There is no local competition that carries the same quality of gifts.
Market
The client base consists of local and tourist.
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include Sundays.
• Increasing the product line to include more I.O.W jewelery.
• With the introduction of a website and e-commerce.
Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.
The present annual turnover is £56143 with a gross profit of 36% and a net profit of £9240. The present value of the stock is £6000 and is included in the asking price.
The potential turnover of the business within the next 2 years is forecast to reach £90,000 pa given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.
Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller.
- Situated in Watchbell Lane, Newport, I.O.W in close proximity to the high street.
- Prominent location on a well used cut through to the High street.
- Part of a parade of shop which part of the local shopping area.
- Parking spaces.
- Industrial estates nearby.
- Surrounded by densely well populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area with many other shops.
- Area enjoying much growth and re generation.
- A lifestyle area.
- Excellent local demographics for this type of area.
The original length of the lease was 10 years with 3 years remaining. The rent is £4020 pa with a review in 3 years. The rates are £490.
Monday to Saturday 9 to 5
Sunday closed.
North Yorkshire
£ 750,000
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