Annual Turnover YE 31/03/2022 - £76,860
Further Financial Info Available After Viewing
Ill Health Sale
Scope To Extend Opening Hours
Potential For Additional Product Lines
Scope For Social Media Use
EPC - F
REF 7751 – Leasehold Electrical White Goods Retailer
Blacks Brokers are pleased to bring to the market this leasehold electrical white goods retailer located in Derbyshire.
Simon Store was established by our client in this bustling area of Derbyshire in 2019. The business offers a range of electrical white goods as well as mobility scooters. It has become very well known in this area and has a strong base of regular customers in place as well as benefitting from a huge amount of passing trade due to its excellent trading position. The business is a full members of the EURONICS Group which is an international group of national retailers operating across the EMEA and CIS regions. This allows electrical products to be sold via an omni-channel approach. Our client has ensured the business has an excellent reputation and superb reviews are noted online.
The business receives regular online orders from customers on the Euronics website and also has a strong social media following with over 2,700 Facebook followers and a comprehensive website in place ---.----------.--.-- from which many online orders are generated.
Simon Store occupies a main road trading position within this densely populated area of Derbyshire. The area is well linked by the M1 with very strong public transport links and parking is available in the surrounding area.
REASON FOR SALE
The business is ideally suited to a hands-on owner-operator but sadly due to our client’s ill health retirement, the business is offered for sale. This presents an excellent opportunity for a new owner-operator or team to take the business to the next level.
The building is available on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial lease. The current lease is a six year lease which began in 2020 at a cost of £202 per week. The current owner offers sublets on two parking bays and a studio office - these agreements generate a total income of £81 per week which offsets the rent to just £121 per week of the current rent. There is also scope to let out a further three parking spaces which could generate a further £11.50 per week each.
The business operates with our client only in employment.
Simon Store has traded solidly since opening and our client has established a strong repeat customer base. Full financial information is available upon request.
Purchasers should enquire with relevant local authorities to confirm the rates payable.
This well established business occupies an enviable trading position in a bustling and sought after area of Derbyshire. Our client has secured a strong customer base and exceptional reputation. There is plenty of scope to develop the business further with the introduction of new product lines and longer opening hours. A new owner could also develop a social media presence and develop a strong marketing strategy. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.