Gift Shops for sale in Watton

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 We found a buyer within the first week of advertising with you. 

Mrs Herbert (Nov 2017)
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Leasehold Price: £40,000 Turnover: £135,516 Gross Profit: £65,175
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Business Description
Business
Hilton Smythe welcomes to the market Amys which has been in the same location since the 1980’s and in our client’s ownership since 2005.

Our client is now looking forward to retirement.

Amys is an established gift and card shop, which also sells jewellery, tobacco products, lottery, confectionery and cold drinks and much more.

Amys is an agent for dry cleaning and also carries out watch repairs.

Amys has many returning customers from the town and local villages and operates on word of mouth advertising as it does not have a website or social media page, however, Amys does have 5* reviews on Google.

Because of this there is scope for development by considering the following

• Creation of a website
• Creation of a social media page
• Consideration should be given to adding to the levels of staff
• Utilising the first-floor level for production and storage
• Addition of new lines
• Ice cream sales

There are many reasons to buy Amys including

• Prominent High Street position
• Huge potential to increase turnover

Hilton Smythe highly advise early viewing to avoid disappointment.

Location
Amys is located in Watton, Norfolk, on a busy parade on the main road through the centre of town which brings in a high footfall.

There is free parking directly outside the shop. Also there are three free car parks within the town plus a disabled parking bay directly outside the shop. There are also two staff parking spaces to the rear of the building.

The business benefits from a bus stop directly outside which creates high number of footfall.

Watton is located on the main A1075 Dereham to Thetford Road and has a population of circa 7,200 as per the 2011 census, although the town has grown since then.

There are many neighbouring villages that the town serves along with workers who come to the area.

Premises
Amys is situated within a two-storey building on the High Street in Watton.

To the front of the shop is an area on the footpath for display boards.

On entering the shop there is a lottery counter, 6 shelf gift stand, poster stand, cold drinks fridge and a double-sided stand for gifts and photo frames etc. there are also 4 glass displays within this area displaying jewellery and much more.

The main counter is half way down the shop on the right-hand side and has two tills, scales for the traditional confectionery, confectionery stand to the front of the counter, tobacco gantry behind and 5 shelves for the traditional sweets. The 3 camera CCTV screen is also here along with the Helium for balloon inflation.

The rear of the shop is made up of numerous cards stands and wall hangings for gift wrap and gift bags etc.

From the main shop is three doors, one to the kitchen, another to the rear store area and another which leads to the first floor.

Kitchen has fitted units and sink and doors to the two separate staff toilets.
Rear store area has access to the goods lift multiple racking, stairs to the mezzanine level for further storage and large doors to the rear delivery access area.

To the rear of this area are two staff parking spaces.

On the first floor are four large rooms.

The office is situated to the front.

There is a store room with racking for confectionery etc to the front.

There is a locked store room for tobacco products and lottery scratch cards.

There is a large store room to the rear with multiple racking. This area has a desk for watch repairs and was previously used as a production area for card making.

To the rear of this stock room is access to the lift, door to the mezzanine level of the outer stock room and a door to ta balcony area.

Tenure
We are advised the business is being sold as a Leasehold business opportunity.

The original Lease was for 15 years and expires in June 2020.

The rent is £20,000 per annum.

We have been informed by our client that they pay business rates at £1500 per annum currently.

Hours
Monday to Friday 8.30am till 5.30pm
Saturday 9am till 5pm
Sunday Closed

Staff
The business is run and managed by our client, with the help of a full-time member of staff, who will be looking to retire when our client sells.

Financial Profile
Amys generated an advised turnover of £135,516 as of the 2018 accounts, with a gross profit of £65,175, a net profit of £ 12,534 and an adjusted net profit of £19,203.

2017 had a turnover of £151,661, a gross profit of £70,214, a net profit of £13,684 and an adjusted net profit of £20,354.

The assets being sold with the business are conservatively worth in the region of £5,000.

The shop averages £13,000 a year commission from the National Lottery.

Tenure: Leasehold

Listed by: Hilton Smythe

Find out more about this business opportunity.

 
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B04757
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