Specialist Clothing Retailer Brighton 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 £250,000 with a net profit of £60,000. (See financial summary below). This is very impressive considering the credit crunch.
• A business with great potential which has not been exploited because the owner wishes to retire.
• An easily run operation.
• Good loyal well trained staff.
• A good first time buyers business.
• A niche business within an expanding market. There is very little competition and the business is the premier venue for its type of concern.

Phoenix Business Transfer Agents are delighted to place onto the market this thriving men’s clothing retailer which has been established since1993. The business has been in the hands of the current owner since 1993 and he now wishes to sell due to retirement.

This very good business opportunity provides formal and informal clothing for men of large sizes up to 62inch waist and chest. For taller men stock is available for extra long leg sizes for 32 – 44 inch waist. A very large amount of stock is kept to cater for the big variance in sizes.

The concern employs 2 staff. 1 is full time and 1 is part time. The total wage bill is £21,000 pa. The manager is paid£17,000 which is included in the above figure. All staff would stay on after a sale.

The owners’ role is part time and he works during days off and busy periods.

The owner markets the business locally.

As far as competition is concerned there is only one other shop of its type in the area and this business provides very little competition

The client base consists of approximately 1500 regular clients and irregular trade. There are clients from all over the world.

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.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• With an enhanced website.
• By making better use of the large client base which is not yet computerized.

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 present turnover is £250,000 per annum with a gross profit of 60% and a net profit of £60,000. The wages are £21,000. The present value of the stock is £100,000 and the fixtures fittings and equipment are worth £10,000.
The potential turnover of the business within the next 2 years is forecast to reach £350,000 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 10 months remaining. The rent is £35,000 pa. The rates are £15,000.

Leasehold rent:

£35,000 per annum

Location:

This superb business opportunity is situated in Brighton in the County of East Sussex .It is within the town centre is within a pedestrianised area with many independent retailers and there is a good foot flow of pedestrians.
The area attracts many shoppers who use the area on a daily basis and there are many local facilities including banks and many other retailers.
The location is well linked with the M23 and the railway station close by. The business has clientele almost anywhere in the worlds. The locale offers a good lifestyle opportunity.

Premises details:

Property Details
The property is terraced and is part of a parade of shops and is approximately 30ft x 40 ft. The front is branded with an attractive glass front and has an unusual design with window displays. The main customer service area has wooden flooring with a middle aisle and shelving and racking to the walls. It is very well presented and is very conveniently laid out.

The customer service point is to the front of the shop. To the rear are an office and a large storage area.

Equipment with sale
All fixtures and fittings and equipment are included in the sale price and are valued at £10,000.

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.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• With an enhanced website.
• By making better use of the large client base which is not yet computerized.

Competition / Market:

As far as competition is concerned there is only one other shop of its type in the area and this business provides very little competition

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.

Reasons for selling:

Retirement sale

Trading hours:

The business operates from Monday to Friday between 10am and 5.30 pm. On Saturdays the hours are 10am to 6pm and on Sunday between 11am and 5pm.

Furniture / Fixtures value:

£10,000 (included in the asking price)

Inventory / Stock value:

£100,000