Leasehold Price: £75,000 Price Reduced Annual Turnover: £48,000 Annual Gross Profit: £34,000 Annual Net Profit: £10,000
Request Details
Business Description
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Rent only £75.00 pa so this is a virtual freehold.
- Turnover in excess of £45,000 pa with a net profit of £10,000 pa. (See financial summary below).
- A business with great potential which has not been exploited because the owner wishes to retire.
- An easily run operation.
- A good first time buyers business.
- No rates.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- This concern provides men’s tailoring.

History
Phoenix Business Transfer Agents are delighted to place onto the market this well established men’s tailoring business which has been established since 1979. The business has been in the hands of the current owner since inception and he now wishes to sell due to retirement.

Services
This very good business opportunity provides suit alterations, bespoke tailoring and sale of shirts and accessories.

Staffing
The concern employs 0 staff.

Owners Role
The owner is involved in the day to day running of the business.

Marketing
No marketing or promoting of the business has recently been undertaken as the business is well known and has a web site.

Competition
There is no local competition.

Market
The client base consists of regulars, repeat custom, word of mouth and referrals.

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 Sunday & Monday.
• Increasing the product line to include ladies alterations.
• With an enhanced website.

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.

Property Details
The property is terraced and is part of a parade of shops and is approximately 20ft x 40 ft. The front is branded with an attractive glass front. There is a CCTV system. The main customer service area is carpeted with shelving and racking to the walls. It is very well presented and is very conveniently laid out.

To the rear is a fitting room. There is a toilet, staff facilities and a fully equipped kitchen.

Equipment with Sale
All fixtures and fittings and equipment are included in the sale price and are valued at £7,500.

Financial Details
The present turnover is £48,000 per annum with a gross profit of £34,000 pa and a net profit of £10,000 pa. The wages are £0pa.
The potential turnover of the business within the next 2 years is forecast to reach £96,000 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.
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.
Business Information
Trading Hours:

Tuesday to Saturday: 09.00am – 5.00pm Sunday & Monday: Closed

Number of Employees: The concern employs 0 staff.

Tenure: Leasehold

Competition: There is no local competition.

Support & Training:

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.

Location Details:

- Situated in the Cliftonville area of Kent.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Metered parking facilities.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the M20, M2 and M25.
- Area enjoying much growth and re-generation.
- A lifestyle area.
- Affluent area.

Leasehold Term:

The original length of the lease was 99 years with 66 years remaining. The rent is £75.00 pa The lease may be renewable or negotiable for longer term if required. The rates are £0pa.

Listed by: Phoenix Business Agents
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