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Business For Sale. Upscale Women’s Contemporary Lifestyle Retail Store With Restaurant

LISTING DETAILS
Firms For Sale ID:
34995
Vendor reference:
AB246
Vendor website:
     
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BUSINESS DETAILS
Location:
Primary sector:
Secondary sector:
Asking price:
£550,000  
Turnover / revenue:
£952,000
Net profit / cashflow:
Undisclosed
Years established:
18
Trading hours:
Monday – Saturday : 10:00 – 17:30 Sunday & Bank Holidays: 11:00 – 16:00
Number of employees:
3
Employees / staffing:
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.

OTHER DETAILS
Reason for selling:
Genuine retirement sale.
Support and training:
The vendor would be happy to stay and hand-over and are happy to provide training for an agreed handover period.
Business is relocatable:
No
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
Lease terms:
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
 
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BUSINESS DESCRIPTION
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
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.

Expansion Potential
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.

Market / Competition / Non-Competition Agreements
The business has an attractive and informative website and free listings in local publications and their online versions.