Leasehold Gentlemens Outfitters Mansfield Nottinghamshire For Sale

Business description

The particular highlights of the business are:
• Ideally located concern offering excellent lifestyle.
• A well established business.
• Good loyal clientele.
• Fully equipped business with favorable lease terms (see below).
• Turnover in excess of £75,000. (See financial summary below). This is very impressive considering the credit crunch.
• A business with great potential which has not been exploited because time and workload constraints
• An easily run operation.
• Good loyal well trained staff.
• A good first time buyers business.

Phoenix Business Transfer Agents are delighted to place onto the market this Gentlemen’s Outfitters which has been established since 1908. The business has been in the hands of the current owner since 1995 and he now wish to sell to concentrate on another business outlet.

This very good business opportunity provides men’s clothing and rentals.

The concern employs 3 part-time members of staff.

The owners’ role is reasonably hands on and he works part time.

The owner markets the business in the yellow pages.

As far as competition is concerned there isn’t another outlet like the subject within a 10 mile radius.

The client base consists of men from 24 years.

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the product line to include more modern and youthful clothing, including women’s.
• Becoming more efficient with staffing levels
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• Update the shops appearance
• Let out the flat above

The owner would be available for a business familiarisation period of one week for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Financial Details
The turnover for 2008 was £75,000 (£50,000 on shop sales and £25,000 on clothing hire). The present value of the stock is approximately £50,000 and the fixtures fittings and equipment are worth £5,000. The potential turnover of the business within the next 2 years is forecast to reach £100,000+ given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 10 years with 8 years remaining. The rent is £8,000 per annum. The rates are £460 per month.

Location:

This superb business opportunity is situated in the Mansfield in the County of Nottinghamshire .It is just off a main arterial road and enjoys much traffic flow and there is a good foot flow of pedestrians. There is a residential area surrounding the property and it is within a commercially thriving part of the area. There is ample free parking nearby.

Other information

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the product line to include more modern and youthful clothing, including women’s.
• Becoming more efficient with staffing levels
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• Update the shops appearance
• Let out the flat above

Competition / Market:

As far as competition is concerned there isn’t another outlet like the subject within a 10 mile radius.

Support & training:

The owner would be available for a business familiarisation period of one week for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Trading hours:

The business operates from Monday to Saturday between 9:00 am and 5:00 pm.

Furniture / Fixtures value:

£5,000 (included in the asking price)