Business to Buy

Gift Shop and Bespoke Jeweller

North Shropshire/Relocatable, ---Europe

Gift Shop and Bespoke Jeweller
Ref. IN003
Location : North Shropshire/Relocatable
Asking Price : £130,000
Established in 1996 the original business specialised in the design, manufacture and sale of fine bespoke wedding and engagement rings.
After 10 years refining and developing the original profile, the director decided to give the business a greater retail focus. To improve profitability and simplify the logistics of the business, the manufacturing and workshop facilities were reduced and most work sub-contracted to a small but respected group of highly skilled jewellers. Today all manufacturing is outsourced to a stable base of major producers and individual workshops.
In addition, in 2010 the current owners decided to diversify the business and established a small, but highly profitable, gift shop. With a carefully selected range of jewellery, glassware, leather goods and novelties, the shop (renovated to a high standard and available for rental or sale) is located in a busy market town in North Shropshire and has been a successful and profitable addition to the original business.

Financials

Price: $186,309

Gross Income: $566,324

Cash Flow: $49,896

FFE: $0

Inventory: $0

Real Estate Value: $0

About the Business

Office Reference ID: #IN003

Year Established: 1996

Financing:

Training: A full and seamless handover will be made available to the purchaser for a period to be agreed as part of the overall negotiation process.

Facilities: A traditional two storey property, with large display window, located in an excellent position in a busy North Shropshire market town. The property was sympathetically renovated in 2010 and now provides a light and contemporary environment, perfectly suited to both sides of the business. The gift shop occupies the two sales areas on the ground floor (approx. 350 sq. ft. of retail space). A storeroom at the rear of the property contains a substantial and insurance approved safe. The bespoke jewellery business occupies the first floor – approx. 250 sq. ft. showroom area and private office, kitchenette and toilet facility. A new fully repairing lease of the premises will be granted at a starting rent of £8,000 per annum plus rates. The freehold is owned by the vendor and is available by separate negotiation off an asking price of £250,000.

Competition: The bespoke jewellery business has a well optimised website that generates significant enquiries. The business is promoted via terrestrial bridal media within a well-defined geographical region. Bridal fayres within Shropshire are regularly attended, but most business is generated through client referrals and personal recommendation. A range of high quality, descriptive and well-designed brochures are used in the terrestrial and e-marketing of the business.

Growth: Both the gift shop and bespoke wedding / engagement ring business offer different opportunities for growth. The gift shop is now a proven and very profitable profile and this formula could be duplicated in other towns or cities. Currently occupying a retail space measuring approx. 350 sq. ft. the business would benefit from larger premises. The existing facility is perfectly located and well suited to a gift shop, but larger premises would allow the business to expand its offering. Various opportunities for growth exist within the bespoke jewellery business. Indeed, it should be noted that the current owner has managed the business alone and has not sought to expand the business beyond his own control. Frequently identified as the perfect franchise opportunity, a number of satellite branches could be established to expand the footprint of the existing business. Additional advertising, further on-line marketing and attendance of more bridal fayres and wedding exhibitions could all contribute to significant growth in this business.

Business Listed By

Name: Andrew Hudson

Company: Turner Butler

Phone: 01895 25 6000

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