Business
Please quote reference B07328

CoGoGo are delighted to welcome to the market M.Y.O (‘Make Your Own’), one of London’s favourite places for adults to get creative in arts and crafts.

Our clients are now selling the fully operational business, as they focus on other opportunities.

It’s looking for a buyer that can take this fun, high potential business to the next level and who enjoys the prospect of spreading the benefits of creativity across the UK and beyond.

M.Y.O was first established in 2017, with the aim of helping more adults explore their creative side in a fun, inclusive, happy and relaxing way. They believe that everyone is creative, they just need an outlet. M.Y.O provides the space, materials, equipment and guidance for adults to flex their creative muscles through arts & crafts.

Since setting up over 5 years ago, it’s hosted 10,000s of public guests across London (and online from around the world!) through 14 different arts & crafts workshops (from lino printing, to pottery to embroidery and calligraphy), with consistent 5* reviews. Its corporate clients include Google, Warner Music, Virgin and ITV and it’s worked with Harry Potter’s Wizarding World to produce crafty how-to video content – seen by millions!

Key selling points –

• Currently 100% staff run – ideal owner/operator opportunity
• True ‘lifestyle changing’ business opportunity – helping the world be more creative through arts & crafts
• 80% business rates relief [potential to apply to get 100%]
• Opportunity to grow multiple income streams
• 100s of 5 star reviews, incredible customer feedback and great reputation
• Over 10,000 social media and newsletter followers / subscribers
• Organically grown business – sales via website, social channels and word of mouth
• Brand book and processes documented
• 50+ corporate clients in 2022, including regular blue chip clients like ITV, Google, Virgin, Visa, Warner Music
• Strong ticket sales through listings on multiple experience platforms e.g. Obby, ClassBento, Craft Courses Online, Heka
• Unique mix of 14+ public arts & crafts workshops, virtual classes and private group offerings – making it appealing to many consumers and businesses
• Operates in 3 large markets – UK crafts (£3bn per annum), Global workplace wellbeing ($57.2bn per annum) and Global E-learning ($200bn per annum)
• Consistently over £10k+ per month organic revenue

Scope to improve –

• Further marketing & advertising potential – grown organically to date with minimal marketing spend and investment
• Increase product range, virtual learning (e.g. on demand online courses – with or without creative kits) and additional workshops for corporates (e.g. creative thinking, wellness)
• Expand creative kits range
• Opportunity to increase opening hours / do drop in and lunch time sessions
• Increase amount of studio rentals – currently ad hoc
• Additional events (e.g. virtual), child- friendly offering (has been adult-only to date) and video content (e.g. crafty how- to video content)
• More brand collaborations – previously worked with Makers Mark, Bird & Blend, Adidas, Beefeater Gin
• Improved profit margin with economies of scale from increased sales
• Real franchise potential Opening of additional studios

The sale of the business includes a wide range of fixtures, fittings and equipment. A full breakdown can be made available upon request.

Location
M.Y.O is based in a ground floor property on Redcross Way, which is parallel to Borough High Street and 3 minute walk from Borough tube station and 7 minute walk from London Bridge.

The studio is amazingly colourful and creative.

There is a steady amount of foot traffic from people wishing to escape the busyness of Borough High street and Borough Market – who take flyers or pop in for a chat to find out what it does after seeing our colourful window display.

Premises
Ground floor –

• Main Studio space, capacity for 24 guests
• Accessible Toilet
• Storage areas
• Large kiln (for pottery) and cleaning area

Basement floor –

• Secondary studio space (capacity for 12 guests)
• Storage areas
• Mini-kitchen – with all facilities like oven, microwave, sink etc

Tenure
We are advised that this is being sold on a leasehold basis, with new lease to be offered to the new buyer. The current rent is £16,500 per annum and the current lease is to October 2027.

Hours
The studio runs workshops largely in afternoons, evenings and weekends, with busier days tending to be Wednesday to Saturday.

All classes are either listed that customers book onto or are private group bookings, so the studio is only open when customers have booked into a class.

Closing time – 9:00pm. Can’t trade later due to lease conditions.

Staff
We are advised that the business has 2 FTE (1 employed, 1 freelance) and 8 artist/crafters hosts (freelance) who work ad hoc depending on shifts (classes) booked in.

Financial Profile
We are advised as per the most recently filed accounts to April 2023, the business generated an annual turnover of £184,000, with the 2022 turnover being £172,000. The business generated a £14,000 profit last year and has since made further cost reductions in readiness for a sale. Further information on this can be made available upon request.