Hilton Smythe are delighted to offer to the market For Eyes Eyewear, established by our client in 2015 and now offered for sale due to his wish to now retire.
The successful optometrist recently relocated its Epsom unit to a 3-storey central High street shop spending over £60,000 on its complete refit. This decision to relocate the business has resulted in an impressive 60% increase in sales revenue in the first 3 months.
Our client’s excellent reputation coupled with the new location is increasing the shop customer footfall from 50-100 to over 130 which will undoubtedly increase further following the completion of the High street’s improvement work.
Excellent service and choice are the key values of the business, there is a choice of frames and lenses from just £30 up to designer glasses and sunglasses of £800.
Each customer reviews the same professional service within a luxury retail space. The average customer spend is currently £179.
The Kiosk located in the Ashley Centre acts as both a 2nd retail unit within the Town but also a key driver to attracting new customers to the main High street shop.
There is also opportunity to increase the display of sunglasses on the first-floor unused space at the front of the shop unit.
In our opinion the location and growth potential of this store could quite easily take the sales in excess of £300,000 in the first year. Winter months are historically quieter for this type of business and sales level would naturally double within the summer.
The Cheam unit attracts a very loyal and affluent customer base, the store underwent £50,000 refit investment 2 years ago and again allows any new owner the ability to walk straight in and continue trading.
A full business handover will be offered on both locations.Location
An opportunity to purchase a successful optometrist business with 2 shops and separate kiosk within Epsom and Cheam.
The larger of the 2 shops enjoys a central High Street trading position within the centre of Epsom, surrounded by all the major banks, restaurants, retail brands and supermarkets as well as the busy Ashley Shopping centre which directly behind.
This is also the location of the kiosk unit which is located directly in front of Marks and Spencer. Both the shop unit and kiosk enjoy very high footfall levels.
Epsom is an affluent market town in Surrey, located just off the A24 and just under 14 miles Southwest of central London, between Ashtead and Ewell. The town straddles chalk downland and the upper Thanet formation. Epsom Downs and the Racecourse holds the famous derby.
There is a large multi storey car park directly behind as well as Epsom mainline train station.
The 2nd For Eye Eyewear shop is located on The Broadway, in Cheam, Sutton.
Cheam is a very desirable village in the Greater London borough of Sutton and at the Southern boundary where London meets Surrey.
The village is located just off the A232 and A217 which meet in the centre of the village, there is an excellent choice of high street brands, supermarkets and banks as well as smaller independents. The shop is located very close to the Sainsbury's which also includes a shopper’s car park.
Nearest mainline station Cheam is located less than 5 minutes’ walk awayPremises
(Epsom) Ground floor -
- Display fittings to both sides
- 2 x customer service points
- Eye testing room - fully equipped
- Kitchen / Toilet
First Floor -
- 2nd Retail area with 2 display units
- Large glass chandelier dominates the full height space between the ground and first floor levels,
- Workshop / Storeroom
- Large Front room (ideal 3rd Retail space)
Second Floor -
- 2 x further unused store rooms
(Cheam) - Ground Floor
- Open plan retail space with bespoke glass/wood display cabinets
- Fixed service desk
- Eye testing room
- Kitchen / Toilet
We are advised the businesses are being sold as a Leasehold opportunity -
Epsom - a new 10-year lease with 9.5 years remaining paying just £33,000 per annum with annual business rates of £12,000.
Cheam - a renewable 5-year lease with 3 years remaining paying £16,000 per annum. The business enjoys full small business relief paying 0 in the current yearHours
Both shops operate the same opening hours -
Monday to Saturday - 9.30-5.30pm
Sunday - closedStaff
The business is run and managed by our client with the help of 4 staff including a locum eye tester.Financial Profile
The business Turnover for Dec 18- March 19 in the Epsom store achieved approx. £80,000 with an adjusted net profit of around £20,000.
Cheam - annual turnover for 2018 achieved £80,000 with an adjusted net profit of around £30,000. SAV currently sits around £150,000 combined,