Jewellers for sale in Dorchester

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• 5 jewellery retail outlets in prominent retail locations

Dorchester, Dorset, England

  • Leasehold Price: £995,000
Seller Reference: 1231
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Business Description
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Seller Reference: 1231
Request Details
Business Description
• Turnover £1,750,000 increasing (Gross margins of 53% and rising)
• Consistent sales performance, superb growth opportunities,
• Established and loyal suppliers and customer base
• Experienced Managers with well-trained loyal sales staff.
• Three well equipped jewellery workshops staffed by qualified goldsmiths.
• Thriving pre-owned trade, repairs, commissions and services
• Established supplier relationships, extended credit and approvals
• Full training and phased handover
• Complete Turnkey Operation
• Genuine retirement sale. Thirty years of successful trading, Sterling reputation.
Founded in 1982, this traditional jewellery group is recognised as the place to find exciting and innovative jewellery of high quality at the keenest prices. This business, synonymous with choice, quality and sheer value for money, has grown from strength to strength and is now very well established employing twenty-five staff across five stores in prime locations. Appropriately situated, primarily in coastal and historic towns, the premises are all well-suited to the locations they occupy.
The jewellery trade is one of the few retail sectors that has increased market share in recent years. Gold recently reaching a 25-year high; last year Diamonds exceeded their all-time records; this business is ideally placed to exploit further growth in this buoyant market. Renowned for offering first class customer service this business is committed to making the purchase of rings, jewellery, clocks and gifts a pleasurable occasion for its customers with its wide range of fine and often unique products well displayed in traditional, character premises. Knowledgeable and helpful staff are always on hand to assist customers with their choice and answer any queries they may have. The Shop managers virtually control every aspect of trade on each of the premises to ensure their smooth operation in a highly profitable manner.
Apart from the usual high street sales this business has a thriving turnover arising from antique and pre-owned jewellery. So much so that 45% of the turnover arises from this sector of the market with all staff well trained in the art of buying or striking a part-exchange deal. Apart from being a major contributor to the overall margins this element of the trade generates a buffer against high street competition and creates greater interest from the public. Another factor differentiating this business from its competition is the repair services “skilled craftsmen on the premises”. The sales staff are experienced in all aspects of jewellery, everything from creating a customer’s design to a simple cleaning job. They advise and cost repairs to most jewellery items, resetting gemstones; soldering broken chains, re-sizing of rings, replacing clasps, cleaning mechanical watches, replacing watch batteries, all carried out on the shop floor or in the workshops.
The business employs craftsmen instead of sub-contracting, this guarantees a timely and efficient service that is so rare in today’s world. The repair service has a brilliant reputation and generates extra shop sales as well as being extremely profitable in its own right
With combined turnover in excess of £1,750,000 and gross margins of 53% this is an excellent opportunity to acquire a chain of five retail jewellery outlets. This Turnkey business provides scope for exceptional profits; as well as a trading business. It is also an excellent investment opportunity for either active or passive ownership.
Early negotiations with Falcon Commercial regarding this highly profitable unique opportunity come strongly recommended
Outlet 1: LOCATION: This outlet occupies a prominent retail location in the centre of this medieval city in the southwest, a firm favourite with tourists keen to sample the history, attractions, events, theatres, eating and drinking not to mention the shopping on offer.
PREMISES: A leasehold ground floor site with approximately 240 square feet of retail space there is a further 240 square feet given over to the workshop, office accommodation and staff facilities. The rent is £24,000 per annum with nine years left on the lease. Rates are £10,935 per annum.
Outlet 2: LOCATION: This outlet is in a prime shopping arcade in the centre of one of England’s most prestigious coastal resorts.
PREMISES: Occupying 5 floors; ground floor, retail area is approximately 350 square feet; first floor, showroom and offices; other floors, workshops, offices, staff facilities and storage. Leasehold, the rent is £40,000 with eight years remaining on the lease. Rates are £22,116 PA
Outlet 3: LOCATION: This outlet occupies one of the best prime retail locations in the heart of this friendly and historic Dorset town.
PREMISES: Occupying two storeys of a leasehold site. Ground floor, retail 600 square feet and workshop 250 square feet. First floor 1,000 square feet of office, storage and facilities. The rent is £29,000 per annum with nine years left on the lease. Rates are £11,811 per annum.
Outlet 4: LOCATION: This outlet occupies a most prominent retail position in a County town in premises that have traded as jewellers for over 140 years. Attracting loyalty from its natural catchment area and a high volume of tourists and day-trippers.
PREMISES: Occupying ground floor and basement of a leasehold site. Ground floor retail 390 square feet with windows on two sides, basement, office, workshop (not used) and storage. The rent is £15,000 per annum with ten years left on the lease. Rates are £8,470 per annum.
Outlet 5: LOCATION: This outlet being the furthest West in the group occupies a prominent corner, high street position between the harbour and the prime shopping street of the countries busiest coastal resort.
PREMISES: Occupying ground floor and basement of a leasehold site. Ground floor retail 420 square feet, basement office, storage and amenities. The rent is £19,000 per annum with nine years left on the lease. Rates are £7,865 per annum.

All outlets are fully equipped with comprehensive industry and insurance approved alarm systems, CCTV systems, large safes, Redcare and or radio telecom response and physical perimeter security. The shops are fitted with counters, wall units and window displays all well illuminated to the usual retail jewellers’ modern standards. Each shop is fully equipped with all the tools and equipment needed for the management and sales staff to carry out minor repairs and services on the shop floor. The workshops are also fully equipped with a comprehensive range of tools and facilities needed to carry out their work and provide the supporting backup to increase sales and profitability on the shop floor

The properties are held on standard full repair and insure leases with no outstanding contentious issues. The properties are all well maintained in good decorative order. Trading as jewellers, the landlords will always be anxious to retain the tenancies in this prestigious trade. The re-assignment of leases by the landlords will be welcomed to any prospective purchaser.
Financial Information;
The business is financially stable with positive cash flow, good gross profit and has shown a consistent performance over more than thirty years of trading.
Retail sales revenue is in excess of £1,250,000 with gross retail margins of 56%. Bullion and trade sales exceed £500,000. The Turnover and/or Profit has risen every year in the last 5 years. The shops are run as five separate limited companies each trading independently with the leases held by that shop’s company.
With diversification, and investment in marketing and with the expected increase in market demand, the business could dramatically increase its revenues.
Stock holding IRO £950,000.
The business is totally staff run with its store having its own manager who is supported by a dedicated team of full and part time staff.
Key Opportunities;
The prospective purchaser has an outstanding opportunity to build on the existing business levels and customer base of this company. With a strong demand for this business's products, combined with a capacity to increase turnover, a new owner contributing fresh ideas particularly in the areas of marketing and finance can take advantage of building on an excellent existing platform. Development of an IT infrastructure generating up to date management information would enable owners of the business to manage it more effectively especially in relation to stockholding which is probably the largest cost to the business.
The acquisition of just a few additional outlets would quite easily see this business become a major player in the UK with all the implications that would have on the terms of trading available from suppliers and economies of scale on operating costs.
There are many other excellent avenues for growth, especially with investment in diversification and extension of product lines. The two most obvious gaps in this business model are Watches and Internet trading. As an industry norm these are currently accounting for 50% and 26% of turnover but account for less than 5% in this group.
The group only stocks low-end secondary watch brands that represent less than 1% of turnover, a small selection of second-hand watches generate 3% but the potential to increase is enormous. The business is currently in the process of introducing a low impact internet-trading site, which will focus on the retail sale of antique and pre-owned jewellery, but with a more IT conversant management the growth should be substantial.
Leasehold Term:
The re-assignment of leases by the landlords will be welcomed to any prospective purchaser.
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