Hilton Smythe is delighted to welcome to the market this well-established musical instrument retail business in Barrow-in-Furness, Cumbria. The business was established in 1977 and has been in our client`s careful ownership for the past 14 years. Only now is the business being offered to the market due to our client`s other interests.
The business is open 6 days per week and generates a turnover in the region of £402,000 per annum, with a reported gross profit of approximately 25%. The turnover is generated from the sale of various musical instruments such as guitars, bass guitars, keyboards and pianos, amplifiers, effect pedals etc. Our client also offers online sales and boasts a popular website, as well as advertising on third party websites, such as EBay. We are advised the online sales account for approximately 25% of the turnover.
The business has an excellent reputation within the area, which has resulted in a very loyal client base, with a lot of repeat trade and word of mouth referrals. We feel there is scope to increase the turnover by extending the opening hours and perhaps opening on Sundays. The business would also benefit from a small marketing campaign to highlight the business and services offered. Our client also offers lessons of musical instruments, which could also be developed by a new owner.
The property boasts a spacious retail area with numerous displays, and well laid out, although our clients are currently in the process of renovating. This is an excellent opportunity for a new owner to take this already thriving and profitable business to the next level; therefore early viewing must come highly recommended to avoid disappointment.Location
R & T Music occupies three storey, terraced premises, ideally located on a busy main street in Barrow-in-Furness, Cumbria. The premises are situated in a prominent trading position and are surrounded by a wealth of complementary shops and businesses. The premises benefits from a vast amount of footfall and passing trade. Barrow-in-Furness is a town and seaport in Cumbria and is situated at the tip of the Furness Peninsula, close to the Lake District and is bordered by Morecambe Bay, the Duddon Estuary and the Irish Sea.
The business benefits from free on street parking just a few metres away from the property. The area is well served by public transport with several bus stops within easy walking distance of the property. The area is also well served by the A-road system, with the A590 within easy driving distance, which links to the vast A-road and motorway networks. Barrow-in-Furness Railway Station is approximately 5 minutes` walk away. Ulverston is approximately 10 miles away and Kendal is 34 miles away.Premises
Three storey retail premises, briefly comprising:Ground floor:
Two large display windows.
Large sales and display area.
Racking and shelving to suit trade.
Bespoke sales counter.
Two rear stock/storage rooms.First floor:
Stock room with shelving to suit trade.
Second stock room.
Kitchen with work facilities.
WC and wash hand basin.Second floor:
Two stock rooms.
The premises are UPVC double glazed and are fully gas central heated.External with:
Security shutter frontage.Tenure
We are advised Freehold.Hours
Monday - Saturday: 9.00am - 5.30pm
The business is owner run and managed with 2 x full time and 2 x part time staff members.Financial Profile
The business generates a turnover in the region of £402,000 per annum, with a reported gross profit of approximately 25%.