Sporting & Leisure Goods Business In Major Essex Town For Sale

Business description

LOCATION:
This store is situated on the main shopping area of this major Essex town and is surrounded by all other major stores and banks, including Tesco, Barclays HSBC. The store is situated in the busiest part of this shopping area.

DESCRIPTION:
This store was originally two shops, which have now been combined giving an overall retail space of some 1,500 sq.ft. with all the necessary equipment to operate this highly successful business. The store is equipped with an abundance of hanging rails, wall displays, changing rooms, an EPOS system for computerised stock control and all other equipment required to operate this business.

The first floor is mainly used for storage with additional office space, kitchen, staff room and ladies and gents wc’s.

TURNOVER:
We are told the last year’s accounts are showing a turnover of some £12,000 per week with a gross profit margin of some 55%. In addition the store is now starting a new internet site, which the owners firmly believe will increase the turnover considerably.

STAFF:
The business is currently run by the Vendors with the assistance of five staff. We would point out this business could easily be run by the staff, some of whom have worked there for many years.

HOURS:
The shop is currently trading between the hours of 9 am until 5.30 pm Monday to Saturday and between 10 am until 4 pm on Sunday.

TENURE:
The two units are held on very secure leases with a term remaining of some eight years with a current rental figure for the two units of £30,000 per annum. We understand both leases are renewable and could be extended if required.

PRICE:
We are instructed by our Vendors to offer this highly lucrative business for sale at a price of £225,000 to include the remainder of the leases, goodwill, fixtures and fittings. Stock to be purchased at valuation.

AGENT’S NOTE:
It is without hesitation we urge all discerning purchasers to view this business without delay. Rarely does a business with a reconstituted net profit of some £100,000 become available. First time on the market for thirty years.

VIEWING:
By prior appointment.