Craft Shops for sale in Croydon

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Adam Warren (Jan 2017)
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Leasehold Price: £26,500 Price Reduced Annual Turnover: £38,000 Annual Net Profit: £8,000
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Business Description
Well Established Business
Annual Turnover £38,000
Ideal Trading Position
Owner Operator Business - No Staff
Multiple Income Streams
Handover Offered
Business Ideal For Someone With Fashion Industry Background
Closed Sundays
Scope For Expansion
Superb For First Time Buyer
Well Equipped
EPC - E
REF 6262 – Leasehold Bespoke Sewing & Craft Centre

Blacks Brokers are pleased to bring to the market this leasehold sewing and craft centre located in a busy and much sought-after area of Norbury, Croydon.

INTRODUCTION

Norbury Sewing Centre has been trading on London Road since 2013 with our client in ownership since opening. The business offers a range of textiles and haberdashery along with services in bespoke tailoring, repairs and alterations, and a range of sewing, jewellery and knitting courses. The business has established itself firmly within this sector, gaining a strong customer base and excellent reputation, with much custom generated by word of mouth and passing trade which is provided by this enviable trading position. Our client has also established firm relationships with four main suppliers of fabrics and haberdashery bringing good buying power and a competitive pricing structure. Our client has long running accounts with Simplicity who sell mail order fashion patterns and Janome who sell sewing machines.

LOCATION

Located on the busy London Road (A23) in Norbury which is situated in the middle of a triangle of Streatham, Mitcham and Croydon – the business benefits greatly from this position with parking available in the surrounding areas and excellent public transport links. There is a bus stop immediately outside the shop.

REASON FOR SALE

Norbury Sewing Centre is being offered for sale as our client is looking for a change of lifestyle. The business is demanding and becoming too much for a single hands-on owner-operator, it would be more suited to a partnership or small team. The business would also suit an owner already in the trade with a growing customer base who wants an ideal bolt on business or to expand. Our client is willing to offer a handover period of around one week to ensure a smooth transition for a new owner.

LEASE

The building is available on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial lease. The current lease is 15 years and began in 2016. It runs at a cost of £230 per week.

BUILDING LAYOUT AND DESIGN

Norbury Sewing Centre is trading from the ground floor of a large, mid-terraced property within a busy parade of shops and businesses. The business is well branded with large signage displayed above a fully glazed frontage. Inside, the business is presented nicely, with servery counter and tilling system, private fitting rooms and main shop floor. The shop is well-stocked with fabrics and haberdashery which are displayed on fitted wall displays and free-standing racking and shelving. The centre is superbly equipped with six domestic sewing machines and two industrial sewing machines – some of which are used for sewing classes and events. To the rear is a store room, staff toilet and kitchen area.

STAFF

The business is currently operating with our client only in employment.

FINANCIAL DETAILS

Norbury Sewing Centre has traded solidly here since opening. The business generates an annual turnover of £38,000. Full financial details are available upon viewing.

SUMMARY

This leasehold business is run by our client only and offers bespoke tailoring, alterations, repairs, haberdashery, fabrics and sewing classes. It would suit a new partnership or small team looking for a new opportunity in this area of South West London. The business offers much scope for expansion with targeted marketing within dry cleaners and other similar businesses that do not currently offer alterations. This proposition with this low rental cost and exceptional location may also be of interest to a new owner looking for premises for other business purposes. Early viewings are strongly advised.
Trading Hours:
Mon - Sat - 11am - 6pm
Sun - Closed

Tenure: Leasehold

Location Details: Croydon

Leasehold Term: Rent: £230 Per Week

Listed by: Blacks Business Brokers Limited

Find out more about this business opportunity.

 
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6262
Seller Reference:
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