Hilton Smythe welcomes to the market Colchester Bait & Tackle which was established in 1995 and has been in our client’s ownership since 2012.
Colchester Bait & Tackle is a traditional fishing tackle shop that has many repeat customers.
Only now due to other commitments our client is now reluctantly looking to sell his much-loved profitable business.
The business is one of only 3 fishing tackle shops in the area and the only one to the east of the town.
The business sells
• Bait for match
• Course Fishing products
• Carp and sea fishing products
The shop is stocked with approximately £50,000 of merchandise at any one time, however, the owner will split the stock if need be.
There is a steady flow of repeat customers which give the business 4.7/5 Google reviews and 5* Facebook reviews.
The business has a website domain name set up being www.colchesterbaittackle.co.uk but this needs to be built, something that we recommend should be done in order to boost sales to the on line market.
Colchester Bait & Tackle is a profitable business but there is scope for development by creating a website and selling online.
There are many reasons to buy the business including
• Long established business within the local area
• Large repeat loyal customer base
• Online reviews speak for themselves
Hilton Smythe highly advise early viewing to avoid disappointment.Location
Colchester Bait & Tackle is located in Colchester, Essex.
The Business is located on the main road leading into the town centre, which is less than a mile away.
Colchester is a highly populated town which attracts many visitors and workers and has a residential population of 121,859 as of the 2011 census.
The business is situated within a double fronted shop with a car parking space for customers next to it.
There is also ample parking on the road and in the residential side streets, all within a few hundred yards.Premises
The double fronted shop is double glazed and has a parking space to the side for 1 car.
Door to the shop with the service counter to the right with 2 fridges behind.
The main shop area includes,
• Hooks for all supplies
• 2 freezers
Off the main area is a rod area with further shelving as well as the apparel area leading to the secure store room.
To the rear of the main shop is a small kitchen area, which doubles up as the office which has a secure door leading to the rear outside storage area with a lean to, freezers, walk in chillers and a secure gate to the rear.
The premises benefits from and an alarm system and CCTV that can be remotely operated.Tenure
We are advised the business is being sold as a Leasehold business opportunity with a rolling Lease.
We have been informed by our client that the landlord would be flexible about granting a new Lease.
We are advised the current rent is £7,200 per annum.Hours
Monday to Saturday 8am till 6pm
Sunday 7am till 12pmStaff
The business is run and managed by our client, with the help of some casual members of staff.Financial Profile
We are advised the Business generated a turnover in circa of £106,254 as of the 2017 accounts, with a net profit of £11,755 and an adjusted net profit of circa £28,000.