Homeware Stores for sale in Lincoln

View the "K C Marketing, Hardware, DIY Discount Store, The little shop with the big bargains" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

  I had the first inquiry within a week and my second inquiry led to the sale of my business!  

Katie Crompton (Sept 2017)
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Leasehold Price: £35,000 + SAV (Leasehold)
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Business Description
The Business Partnership are delighted to be instructed to sell this popular and longstanding business.

Situated in the Birchwood area of Lincoln, on a very busy link road, with free parking directly at the front of the store.

They traditionally offer – bakeware, batteries, cleaning products, electrical items, DIY, paint, toiletries, wool, pet food and accessories, storage boxes, tools, gardening, stationary, pots and pans, car products, greeting cards, foil balloons and loads of small hardware items.

They also sell a range of locally produced garden type furniture which is very popular, provides a generous margin and is exclusive to KC in the Lincoln area.

The store is very well known within the Lincoln/Lincolnshire area for great bargains and a friendly greeting. They have a very loyal customer base within the region and regular repeat business from local tradesmen.



Our Opinion  



The business benefits from a very strong reputation and provides a good foundation for potential new owners.

It is now recognised that the business has been over staffed at times and could quite easily be managed by a family with some part time help. This would greatly increase the potential profitability and earnings.

A great deal of work has taken place to sell off the old and tired stock, which as a consequence, is seen within the 2018 accounts. The benefits of this can only be a positive for the business moving forward.

The business comes with regular repeat levels of trade, but there would be the opportunity to diversify and increase existing ranges.

There is a strong Facebook presence, with the potential to develop and increase the social media side to increase awareness.

There would also be the opportunity to promote the foil balloon side more with local venues, with the potential of a balloon delivery service for events.



Staff:  



1 Full Time – currently long term sick

1 Part Time – 16 to 20 Hours

Owner – now full time to cover Owner/Partner – Full time



Hours:  



9 am - 5 pm Monday to Saturday



Financials:    



31 st March 2018
Turnover 153,328

Gross Profit 61,975 



31 st March 2017
Turnover 183,329

Gross Profit 80,368  



Note: Adjustment made in 2018 accounts for stock re-valuation
Tenure: Leasehold

Leasehold Term:
Leasehold 3 years with automatic renewal clause.

Rent £12,000 per annum.

Each party to be responsible for their own legal and professional fees, but the purchaser should note that they will be responsible for the Landlords reasonable legal costs in connection with the preparation of the Licence to Assign/New Lease.


Listed by: Business Partnership

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