BusinessHilton Smythe welcomes to the market Funzone which was established by our clients in 2007, our clients are now looking forward to retirement.Funzone is an award winning fancy dress and dance wear shop that specialises in the sale & hire of fancy dress and dancewear.They have 100s of great quality costumes for hire , lots of fantastic costumes and accessories to buy and an amazing stock of dancewear and gymnastic wear.There are huge ranges of costumes for different events throughout the year including Book Day, Easter, Halloween and Christmas. These compliment the many other costumes that are for sale or hire and the many accessories that include wigs, make up, hats, prosthetics and masks.There is also a huge line in dancewear including shoes, leotards, leggings, tights, skirts etc. Dancewear brings in approximately 20% of the turnover of the business and is an area that should be looked at to increase in order to generate higher revenue.The business runs a loyalty card scheme, which gives a 10% discount on the next purchase after 5 purchases of £10 or more.The business which has been self-promoting is being sold with a website www.funzonefancydress.co.uk, the business also has strong reviews on Google with over 40 reviews giving an average of 4.2/5*.There is scope for development of the business by considering:
There are many reasons to buy Funzone including:
- Expansion of the dancewear side of the business
- Consider opening longer hours
- Long standing business
- Little competition in the area
- Promotion of the loyalty scheme
Hilton Smythe highly advise early viewing to avoid disappointment.LocationFunzone is located in the affluent town of St. Albans, Hertfordshire.The shop is located on a local parade within a highly populated residential area just outside the main city centre.Funzone is located within a double fronted shop at the end of the parade and has distinctive signage with unrestricted parking directly outside.
St. Albans has a population of 57,795 as per the 2011 census and has been voted one of the top 10 places to live in the UK.PremisesThe double fronted shop is located at the end of a parade and has distinctive signage.The entrance door takes you into the very well stocked shop which has many display hangings and rails.To the left of the shop is the dancewear section displaying leotards, tights etc.Past this area is the wig display area and further on from here is a display area for costumes with multiple hanging space.There are 2 changing rooms, a store room for ballet shoes, 2 glass display cabinets for makeup etc. Further wall hangings for makeup.There are several central displays and the walls are full of hanging area for costumes etc.The window is changed regularly and has mannequins for display purposes.The service counter is to the rear of the shop and has an Epos till system and card machine. To the rear of the service counter is the kitchen and toilet.There is a large stock room to the rear of the shop which is full of hire costumes with 4 rows of hanging rails.There is an alarm system installed.TenureWe are advised the business is being sold as a Leasehold business opportunity.A new 3 year Lease was written in January 2018, the landlords, who are the local authority will renew the Lease.
The annual rent is £7,670 and we have been informed that our client does not pay business ratesHoursThe business opening hours:Monday: ClosedTuesday - Saturday: 9.30am – 5.30pmSunday: ClosedWe have been informed that there are no restrictions on the lease regarding opening timesStaff
The business is run and managed by our husband and wife clientsFinancial ProfileFunzone generated an advised turnover of over £82,000 in 2018, £94,000 in 2017 and £110,619 in 2016.These figures have reduced in recent years as our client is looking at retirement.
The stock being sold with the business is worth in the region of £50,000. Approximately £14,000 of which is costumes for hire.