Mens Formal Hire for sale in Alton

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Well Established Formal Menswear Business

Alton, Hampshire, England

  • Freehold Price: £349,950
  • Leasehold Price: £299,950  Price Reduced arrow_drop_down
  • Turnover: £200,000
  • Gross Profit: £100,000
Seller Reference: B04936
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Business Description
 
 
 
 
 
 
 
 
 
 
 
 
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Seller Reference: B04936
Request Details
Business Description
Business
Hilton Smythe welcomes to the market a once in a lifetime opportunity to purchase one of the country’s most well-established formal menswear businesses, established by our client over 60 years ago and now offered for sale to allow him to finally retire.

The business offers gentlemen’s suits and accessories for weddings, funerals, formal dinners and parties, prom nights to racing events especially for nearby Ascot.

The business is split evenly between the hire and retail sales side with 50% been derived from wedding customers. All suits are individually measured and altered on site and can be further enhanced by the large range of shirts, ties, scarves, shoes, cufflinks, hats and shoes.

The business benefits from having its own in-house dry-cleaning equipment which drastically reduces the cleaning costs of the rental side.

The dry-cleaning department could quite easily be modified to allow walk in customers for all types of dry cleaning as it benefits from its own entrance to the front of the building.

The business is currently being run part time to suit our client’s needs, on average 20 hire suits are been hired per week which could easily be doubled instantly by any new buyer.

In the summer months this increases to 100 suits when the wedding season is in full flow, again this could easily be doubled by any new owner.

There is a very large stock holding which allows excellent customer choice of both colours and sizes. Many of the ex-rental suits can be purchased at excellent discount prices for those customers looking to wear bespoke tailored suits again and again.

Our client keeps record of all customers’ requirements and sizes which ensures customer return to experience the personal fitting service. The hire business leases a fully computerised system with a database spanning several generations.

Rarely does a business come with a constant customer base and early inspection of this highly profitable business is advised.

Full handover offered.

Location
Bartlett and Butcher occupies a highly desirable corner trading position on Vicarage Hill, facing the new towns library in Alton.

The renowned business is located just off the High street and directly behind the River Wey.

Alton is a thriving market Town in Hampshire, located centrally between Winchester 18 miles to the West and Guildford 20 miles to the East and just off the A31 link road.

Two Large Public Car Parks adjacent (Pay & Display) and FREE parking opposite.

Alton mainline station is only 2 mins walk from the business.

Premises
The premises are a total of approx. 2,000 sq. ft.

Ground Floor

• In the region of 1,250 sq. Ft
• Solid wood counters
• Display stands
• Shelving
• Railing
• Customer sitting area
• Glass topped service counter x 2
• Cash till with card machine
• Customer's cloakroom with WC and wash hand basin
• Staff room cloakroom with WC and wash hand basin
• Changing Rooms
• Stock room

Office CCTV and up to date telephone system

Dry Cleaning area

• Union dry cleaning machine
• Presses
• Spotting machines with Owen kitchen
• Staff toilet (could easily be run independently from main shop)

First Floor

• Approx. 750 sq. Ft
• Additional changing rooms
• Fully equipped sewing workroom
• Fully railed stock room
• Large windows to full left side of room

Tenure
Freehold for offers over £300k
Leasehold available for £15,000 per annum
SAV circa £50k

Hours
Currently run to suit -

Monday, Tuesday – 10.00 am – 4.00 pm
Wednesday - Closed
Thursday, Friday, Saturday – 10.00 am – 4.00 pm
Sunday - Closed

Opportunity to extend hours and open Wednesday and Sundays.

Staff
The business is run and managed by our client with the help of 2 x part time members of staff.

Financial Profile
In the previous financial years Turnover averaged at £200,000 per year, GP at £100,000 and net profit of over £50,000.

Tenure:
Leasehold, Freehold
Listed by:
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