Total of 18656 firms and businesses for sale today Saturday 27th April 2024
Sold. Retail Gift And Craft Shop In Well Known Devon Coastal Resort Town
LISTING DETAILS
Firms For Sale ID:
33120
Vendor reference:
AH139
Vendor website:
BUSINESS DETAILS
Location:
Primary sector:
Secondary sector:
Asking price:
£20,000
Turnover / revenue:
£97,000
Net profit / cashflow:
£8,300
Years established:
34
Trading hours:
Monday-Saturday: 9.30am - 5.30pm
Number of employees:
3
Employees / staffing:
The business employs two part-time staff who work approximately 15-17 hours each over three days. The owners are a married couple who each work part-time in the business and could be replaced by one owner-manager working full-time.
OTHER DETAILS
Reason for selling:
Retirement
Support and training:
The owners are happy to ensure a smooth transition of ownership by offering support at the time of sale.
Business is relocatable:
No
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
Lease terms:
The shop is located in a large, bright and airy space fronting the main street with a high footfall. The premises are held under a commercial lease with approximately two years remaining of an original 25 year lease. Rent is c£13,000 pa.
There is a right of renewal under the Landlord & Tenant Act and the lessor is a well-known local property investor.
BUSINESS DESCRIPTION
Retail Gift and Craft shop in well known Devon coastal resort town
Ref.AH139
Location Devon
Asking Price £ 20,000
For the last 34 years this well known gift and craft shop has been trading on the main street of this well known Devon coastal town. Customers come from far and wide because of the wide, eclectic and unusual array of gifts, products for the making of cards, candles and craftware available for sale.
Over the many years of trading the business has generated an excellent reputation for the quality, variety and pricing of its goods.
Despite being located in a well known holiday destination the business does not rely on tourists for its trade but rather on regular customers from both the surrounding areas and from the rest of the UK.
The lead-up to Christmas is their busiest time of year.
The current owners have made the decision not to embrace modern technology(!) and have not created a website to sell their products on the internet. Investment in these resources would provide unlimited potential and obviously creates a marvellous opportunity for a new owner to significantly increase sales and profits.
The owners have however focussed on selling the widest range and the most unique products. They are always on the hunt for new suppliers to add to their existing range.
Expansion Potential
As previously noted there has been no investment in creating a website for the business with all the opportunities that would generate.