LEASEHOLD SILVER JEWELLERS AND WHOLESALERS LONDON
Price:
Leasehold - £70,000
Business Type:
Retail businesses
The particular highlights of the business are:
• The owner may be prepared to accept staggered payments for the business, enabling the buyer to pay from profits although a lump sum sale would be more favorably considered.
• Ideally located concern offering excellent lifestyle.
• A well established business.
• Good loyal clientele.
• Fully equipped business with favorable lease terms (see below).
• Turnover in excess of £110,000 with a net profit of £30,000 after paying all staff (See financial summary below). This is very impressive considering the credit crunch.
• A business with great potential which has not been exploited because the owner wishes to leave the country.
• An easily run operation.
• Good loyal well trained staff.
• A good first time buyers business.
• Excellent suppliers from all over the world with very high gross profit margins.
Phoenix Business Transfer Agents are delighted to place onto the market this thriving jeweler and gift shop which has been established since 1994. The business has been in the hands of the current owner since 2006 and he now wishes to sell due to re location.
This very good business opportunity provides high quality silver jewelry and gifts and cards. There is also an e-commerce website and a wholesale side to the business.
The concern employs 1 staff. He is a full time manager and he earns £15,000 per annum. There is also part time staff as and when required. All staff would stay on after a sale.
The owners’ role is part time and he simply does the finances.
The owner does no marketing for the business as it is very well established and he has a website.
As far as competition is concerned there are other similar businesses nearby but they are not able to compete on quality and price.
The client base consists of all types of retail customers.
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.
• The most lucrative side of the business is wholesale and the owner already has over 80 customers who are ready to do business.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.
• Sunday opening.
The owner would be available for a business familiarisation period of one week 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.
Financial Details
The present turnover is £110,000 per annum with a gross profit of 66% and a net profit of £30,000. The wages are £15,000. The present value of the stock is £50,000 and the fixtures fittings and equipment are worth £7,000.
In 2008, the turnover was £110,000. The potential turnover of the business within the next 2 years is forecast to reach £200,000 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.
The original length of the lease was 4 years with 6 months remaining.
The business operates from Monday to Friday between 10am and 6 pm. On Saturdays the hours are 10 am
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