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Upscale Women’s Contemporary Lifestyle Retail Store with Restaurant in a prime City Centre Location

Ref. AB246

Location : North East Somerset

Asking Price : £550,000 + SAV

Turnover : £952,000

Net Profit : Undeclared

Gross Profit : £491,000

EBITDA : £200,000

Net Asset : £150,000

Premises : Leasehold

Confidentially offered for sale


  • Turner Butler

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Leasehold

Asking price includes:

Gross Turnover circa £952,000 per annum
Gross Profit circa £491,000 per annum
Adjusted Net Profit circa £200,000 per annum
Stock circa £150,000

Excellent position in a “Destination location” for busy local shops
Fixtures and fittings
Up to date EPOS technology
Regular, reliable & affluent customers
Busy and popular City
Significant Goodwill

Business Profile

Extremely well established contemporary concept, female oriented, lifestyle and home-living shop, founded by the Vendor in 2001. The business is in a prime destination location, being adjacent to one of the main thouroughfares in this busy and historic City and well positioned among other popular retailers, art galleries and restaurants with established clientele. Conveniently located and just a short walk from the centre of the City and its popular attractions for visitors from all over the world, the business is also in close proximity to many well established residential areas and provides an excellent and growing customer base, across all age groups.

Well known by its ostensibly Female clientele and in the locale for the wide selection of products, from fashion apparel & accessories to contemporary furniture, including lighting. In addition to the retailing of these product items, the store has a popular Italian restaurant/café/coffee-shop within its premises that is sub-let to a separate business but which chimes well with the overall themes and aesthetics of the store.

The clothing & lifestyle retailing is branded separately from the coffee-shop and is a companion store to a like branded store in Gloucester; both prosper from co-promotion and are very separate in clientele and trading.

The business has many competitors in the City for furniture, fashion and food but none of these other retail outlets combines all three desirable attributes in a single location in the way that this unique store does. This combination is supported by a shrewd sourcing strategy that requires the vendor to travel to designers, manufacturers, suppliers and trade shows around the world, in order to find products consistent with the aesthetic that is core to the store’s offering; and at margins, highly beneficial to the business.

This blend of sourcing strategy, shrewd purchasing and combined offering has resulted in a retail business that has become such a successful destination for customers and as an attraction to the City’s visitors, that the local Council has invested in Street Furniture and marketing promotion for the discrete area in which the store is located, further enhancing its reputation.

The real power and energy of the shop comes from the attentive and courteous service provided by the staff in the store & the coffee shop and the high levels of customer service and satisfaction they generate.

Not surprisingly, the store enjoys a good level of patronage – including circa TBC active customers on company database; the store enjoys a high perecentage of repeat custom.

This opportunity is an ideal business for anyone looking to engage with the contemporary home living sector or for someone already in the sector looking for a strongly performing, additional outlet to bolt on to their existing business activities.

Equipment:

The shop has all the equipment normally associated with a business operating in this sector and uses specialist Electronic Point of Sale (EPOS) equipment and software for sales, stock and customer statistics management.

Key Strengths:

Ideally located in this prime destination location, being adjacent to one of the main thouroughfares in this busy and historic City and well positioned among other popular retailers, art galleries and restaurants.

The shop has an extensive selection of stock, monitored regularly and that has been popular with customers over many years.

The breadth of product choice in combination with the quality of service provided by the knowledgeable and attentive staff, makes this shop stand out among the many competitors, including online alternatives.

The shop is very well known and established in the area.

A sourcing strategy that requires the vendor to travel to designers, manufacturers, suppliers and trade shows around the world, in order to find products consistent with the aesthetic that is core to the store’s offering; and at margins, highly beneficial to the business.

Financial Information:

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

Asking Price:

The Asking Price of £550,000 plus stock at valuation is for 100% of the issued capital of the company, assuming Net Assets of £TBC,000 on completion (calculated on a zero cash-zero debt basis). The final selling price will have a £1 for £1 adjustment for any rise or fall in this benchmark Net Asset figure of £TBC,000 at completion.

Advertising and Marketing:

The business has an attractive and informative website and free listings in local publications and their online versions.

Growth and Expansion:

The business has grown organically and with further marketing for both the shop and the regular updating of the website could build on the existing excellent customer base.

It would be possible to extend the reach of the business by developing new locations in similar locations around the UK, backed up by a brand strategy for building recognition.

In addition to this a new owner could open the shop for longer hours or bring new ideas for new product ranges to the customer base.

Premises:

The premises are leasehold with a 5 year renewable lease. The square footage is circa 5,000 sq. ft and includes coffee shop, retail area, stock room and office area.

Rent is currently c £145,000 per annum.
Rates are currently c £30,000 per annum.
The lease contract is due for renewal in TBC

Business Hours:

Monday – Saturday : 10:00 – 17:30
Sunday & Bank Holidays: 11:00 – 16:00

Employees:

The Company currently employs 3x full time Staff along with the Vendor, and a team of reliable and enthusiastic part time staff available on a flexible basis.

Support and Training:

The vendor would be happy to stay and hand-over and are happy to provide training for an agreed handover period.

Reason for Sale:

Genuine retirement sale.

Turner Butler Disclosure Statement

This statement applies to information relating to any company or other undertaking or business advertised for sale by Turner Butler (a 'Business')

The information supplied by Turner Butler on its website or in any other promotional material ('the Information') is not and is not intended to constitute an offer for sale of the Business or any assets of the Business or of the shares of any company which owns the Business.

For the avoidance of doubt there is no intention to create a legal relationship which will only come into existence when a written contract for sale and purchase of the shares in or the Business has been entered into

The Information provided is not intended to address your particular requirements. Further the Information does not constitute any form of advice recommendation representation endorsement or arrangement by Turner Butler and is not intended to be relied upon in making (or refraining from making) any specific decisions.

Any agreements transactions or other arrangements made between you and any client of Turner Butler are at your sole risk and responsibility. The prospective sellers of the Business have provided the Information to Turner Butler. The Information has not been verified by Turner Butler.

You must carry out your own due diligence and satisfy yourself as to the accuracy of all matters. In the case of the sale of shares in a Business the Information has been prepared on the basis that the shares will consist of or include more than 50% of the voting shares and that both the seller and the buyer is either a body corporate, a partnership, a single individual or a group of connected individuals so as to fall outside the scope of regulated activities as defined by the Financial Services and Markets Act 2000. If you are considering a transaction which falls within the scope of such regulated activities you cannot do so through Turner Butler.

Appropriate professional, legal and accountancy advice should be obtained before making or refraining to make any decision.

Turner Butler does not accept any responsibility or liability for loss or damage of any nature that may occur by reliance on the Information. Neither Turner Butler nor any of our employees or agents makes any representation as to the completeness or accuracy of the Information nor do we accept any liability for any losses, costs, liabilities or expenses which may arise directly or indirectly from your use of, or reliance on the Information.

This document is governed by and shall be construed in accordance with English Law and any dispute arising in connection with it shall be subject to the non-exclusive jurisdiction of the English courts

Turner Butler
Ickenham House, 2-4 High Road, Ickenham, Middlesex, UB10 8LJ
Telephone 01895 25 6000 Facsimile 01895 678532
info@turnerbutler.co.uk
www.turnerbutler.co.uk