Description
A well established retailer of stringed instruments with an excellent reputation and strong customer base is being marketed for sale.
The predominant revenue stream is from the sale of instruments, but in addition the business also sells bows, cases, strings and other accessories and also has an instrument repair and restoration service.
Having operated from its current retail premises for over 15 years, it is well embedded in the local environment but also enjoys a strong reputation further afield, selling instruments both nationally and internationally. The freehold is owned separately by the vendors who will be happy to grant a new lease at market rate.
Currently in addition to one owner, who performs the MD role, there are two other employees.
The business delivered revenues of c £300k for the year ended Mar 2023 and is forecasting similar for the current year, delivering earnings before drawings for a single owner of c £55k.
There are significant growth opportunities including extending the range of instruments (eg guitar), developing a stronger online presence and developing a more pro active marketing strategy.
Having run the business for over 20 years, both owners are of retirement age and therefore seeking to transfer the business into new ownership. The guide price for 100% shares of the Company is £199,500 and the business will be transferred with a debt free cash free balance sheet with a significant stockholding contributing to a net asset value forecast at c £140k.
The vendors are keen to ensure a successful transition and will support any reasonable handover request.
The business is being marketed by www.SellMySmallBusiness.co.uk. Please do not attempt to contact the vendor direct.
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