Retail Space for sale in Daventry

View the "Retail Shops - Motor and Car Accessories Shops" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

 Unbelievable, as I've saved hundreds on agents fees, by doing it myself. 

Anjam Hussain (Jun 2017)
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Leasehold Price: £30,000 Price Reduced Annual Turnover: £80,000 Annual Net Profit: £15,000
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Business Description
Originally a car spares and accessory shop, the product range has grown to reflect the market and now also retails tools, hardware, outdoor/camping accessories and seasonal fireworks.

Business description:
The business known as TMC has traded in Towcester for many years: Originally a chain of car accessory shops across the region, it folded in c2009 and was purchased by the previous owner who took over the lease of one premise and amalgamated the stock into one retail outlet. The current owner purchased the business and stock, with a new lease in September 2013.
Over time, the product range has evolved, moving away from car parts & accessories only to expand into tools, hardware, outdoor supplies and seasonal fireworks – an approach which has boosted sales linked to the large amount of residential development in the town and locality
The business sells approximately 1500 lines and trades six days per week currently. It is easily operated by a single proprietor for the majority of the time, whilst currently employing a part-time assistant to cover one day each week and holidays.

Location:
The current premises are well located on Watling Street, Towcester, being the A5 Trunk road between London and the North West. Adjacent to a major junction, there is ample passing trade to compliment regular custom from Towcester and surrounding villages. All car parking is free in the area, with (2 hour) ‘bay’ parking 20m away, medium term (3 hour) parking 100m and all day parking 400m away from the shop doorway. Towcester itself is c15 miles from Milton Keynes and c8 miles from Northampton, distances which encourage the use of the town as a retail location.
In addition, the Town benefits from the proximity of major visitor attractions, more specifically Silverstone motor-racing circuit and Towcester Racecourse whose regular events draw large numbers of visitors to the town.
There are several (non-competing) motoring related business nearby (mechanics, body-shops etc) some of whom rely upon TMC for products.

Population size/Demographics and Growth Plans:
Towcester itself has a current population of 11000 with a further c5000 distributed across the neighbouring villages. However, local and district council development plans have already granted permission for a further 2500 residential homes in the town which will double the population size by 2025. Currently there are additional plans for two large retail sites on the edges of the town which will draw more footfall to the area.
With a slightly older than ‘national average’ population make-up, the town enjoys an affluent customer base well disposed to ‘Shop Local’. Families are well represented also, supported by a secondary school, two primary schools and several children’s nurseries.

Premises:
The premises at occupy approximately 900 ft2 formed of three conveniently sectioned retail spaces, store room, small kitchen area and W.C. There is a roof-space area which has hitherto to been unused. A large pavement facing display window with customer access via a glass panel door, directly from the street.
Adjacent businesses include a hairdresser, shoe repair/key cutting business, bank branch and other small independent businesses, all of whom co-exist and work together for the benefit of the Town.
No commitment can be made about the lease arrangement without the Landlord’s assent, but the Landlord has indicated he is amenable to the reassignment of the existing lease (10 years unexpired) although either party might prefer a new lease is signed.

Opportunities/expansion potential
The growth in population size offers the potential for a large increase in custom in the coming years, particularly in hardware sales. After many years of inaction, the necessary improvements to the local road network are getting underway, thereby improving access. Further development of the Silverstone Technology Park and Towcester Racecourse cannot fail to advantage the area.
The current business operates 0830-1700 Monday to Saturday. There is potential for additional business by extending the working day, thereby attracting more homebound commuters and potentially opening for a period on Sundays.
The increase in trade with local complementary businesses suggests the creation of a formal trade account facility might be advantageous, more so following the closure in 2017 of the primary local competitor.
99% of custom is via local walk-in business with EBay being used sparingly for stock clearance only. Currently the business does not trade online, but the developing trend towards online retail indicates this may an area for investigation, possibly via Amazon or equivalents for certain products.
Subject to costings and demand, there may be potential in some limited delivery capability for businesses and occasional retail sales.
The business currently has a seasonal licence to sell fireworks – an annual licence is available (at a cost) which may be feasible if sales outside the popular November 5th/New Year periods are sufficient.
With no outside storage, the business only retails small gas canisters. The recent closure of a local garden centre has opened the potential for larger (5kg+) sales to be introduced, but this would require the acquisition/provision of a convenient outdoor storage area, not currently available on the premises.

Competition:
The primary competition is the continuing growth in online sales – however over the course of the current owner's tenure, those products where the online market has dominated have been largely phased out (example: in-car entertainment), whereas staple items continue to grow due to the prohibitive cost of postage (examples: lubricants, screen wash and compressed gases). Local competition is minimal – the supermarket chains compete with a small number of basic products but aside from convenience offer little competition and a very small local competitor offers insufficient stock holding or product knowledge to be of concern. There are none of the direct competitors locally or nearby (Halfords, Toolstation, B&Q etc).

Inventory/stock holding:
The current stock holding of the business (on a CCS basis) is typically £15000, the majority of which is shelved and available for sale. The available retail space allows for adequate holding of most products on the shelves, with only the fast turning products stored (primarily lubricants, coolant, auto bulbs plus fireworks due to seasonal licensing) kept in store.

Employees:
The business is currently operated by the Proprietor with one part-time (hours as worked) individual covering Mondays and holidays
.
Assets Included in sale:
All racking/shelving
Shop front signage
Counter & 2 stools
Cash register (SAM4S)
Digital message board
HP Printer
Swing board
CCTV
Intruder alarm system
Fire extinguishers x 3 (Require testing and potentially recharging)
Dump bins x 3
Safe
3 x lockable metal cabinets (in storeroom for fireworks)
4 x lockable glass display cabinets
Kitchen appliances (Kettle, microwave)
Price gun
Vacuum cleaner
Website/Twitter/FB accounts (Transferrable)

The current proprietor is willing to spend a reasonable and pre-agreed period undertaking a handover with the buyer and assist in the continuity of product supply etc to enable a smooth transition.
Tenure: Leasehold

Listed by: Bizdaq

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