Business Summary:
Business Profile:Extremely well established carpet and flooring shop, established by the present owner in 1971. Two of the business outlets are in a prime high street locations, being the main thoroughfares in highly regarded West Sussex Towns and are well positioned among other retailers with established clientele, the other, larger premises, is located in a very busy and successful retail & business park, close to main trunk roads and having ample customer parking. It is at this retail park location that stock is held and distributed, it is also the main sales office; many times customers will begin by visiting the higher profile, high street shops and be directed to this more comprehensive showroom, where their floor covering selection will be made.Available at the large showroom is a very wide range of sample carpets, wood, laminate & other floor coverings for customers to choose from. Knowledgeable and experienced staff are on hand at all times to deal with enquiries and to make recommendations.The real power and energy of the shop comes from this attentive and courteous service provided by the owner and staff and the high levels of customer service and satisfaction they generate. This opportunity is an ideal business for anyone looking to engage with the flooring sector or for someone already in the sector looking for a strongly performing, additional business 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 equipment and software for sales, stock and customer statistics management.Customer Service:This store is renowned for its customer service, paying attention to customer’s requirements and offering a free advice service. The vendor’s honesty in dealing with customers is also very much appreciated and is responsible for much return custom.Key Strengths: Ideally located in three prime locations, positioned in close proximity to high added-value stores, cafes and galleries and among other premium retailers in a busy street of outlets, with its tremendous passing trade and a larger warehouse and showroom with ready access and ample customer parking. The shop has an extensive selection of available products to order, with significant stock and a range of purchase options that is popular with customers.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. The shop is run and managed on a day to day basis by staff with general financial oversight by the vendor.Key Opportunities:By expanding on the web presence the business could increase its turnover and profitability. There remains the opportunity to retail complementary homeware products and to develop services to trade customers.This is a mature, successful and profitable retail business that would also very much suit a new owner with a long term interest in retail.Employees:The vendor is ably supported by a reliable team of 9 x full time office, sales & warehouse staff with 3 x full time installers, supported by a reliable team of sub-contractors. Advertising and Marketing: The business features prominently in Google searches and has an attractive and comprehensive website, showcasing the premises, products and services.Premises:All premises are leasehold with the warehouse on a 7 year lease with 3 year reviews and is within the Landlord & Tenancy Act and has been in this location for over 20 years. The premises area is circa 4,550 sq. ft and includes a showroom, warehouse and offices.Each of the high street premises are on the ground floor and in the ownership of the vendor, new leases are available by negotiation.The rent & rates for the 3 x premises is circa £66,000 per annum.Business Hours:Monday – Friday: 8:30am – 5:00pmSaturday: 9:00am – 4:00pmSunday: ClosedSecurity:Alarm and fully monitored CCTV systemFinancial 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. Reason for Sale:Genuine retirement sale.Support and Training:Owner would be happy to stay and hand over for a negotiated period of time. Asking Price:The Asking Price of £300,000 plus net assets is for 100% of the issued capital of the company, assuming Net Assets of c£237,000 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 £237,000 at completion.
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