Audio Works Rehearsal Studio
Turnover circa: £32k
Adjusted Net Profit circa: £12k
BUSINESS SUMMARY:
Business Name: Audio Works (Northampton) Ltd
Location: Saint James Mill Road, Northampton, NN5 5HS
Type of Business: Rehearsal Studio & Meeting Space
BUSINESS DESCRIPTION:
Audio Works is a multi-studio space establishment located within walking distance to the town centre of Northampton. Set within this thriving town, the business has been delivering an exceptional rehearsal and entertainment experience with a focus on hire by the hour studio suites which are soundproof and available with a host of professional music equipment, with the bonus of a meeting/co-working space and storage offering a comprehensive service for their loyal, local customer base.
SERVICE OFFERINGS:
The business has forged a distinguished reputation for providing an unparalleled rehearsal experience, with a multiroom soundproof rooms available by the hour. The business comes with a host of high-quality music equipment and furnishings, which attract clientele to the facility.
The business has a 10 storage bays for storing music kit and a co-working space where customers can rent a whole meeting space or one of the 6 fully equipped desk spaces.
The business requires very little input from the current vendor as the facility is hands-off, with bookings completed and paid for on the user-friendly website, door code access given to customers and external contracted cleaning services look after the day-to-day maintenance of the facility.
SALE CONSIDERATION:
With the owners poised to venture into new opportunities, the business is on the market, presenting a turnkey operation for aspiring owners or existing chains looking to expand. The sale will encompass all aspects of the business, including the brand, high quality fit out, loyal clientele, and established operational processes.
FINANCIAL SUMMARY:
Revenue streams are diverse and robust, with regular repeat custom and a strong local reputation. The business boasts annual gross revenues of over £32k, with a net profit margin of over 37%.
Detailed financial statements will be made available to interested parties.
PREMISES:
The business is located on a busy main road which leads into the centre of Northampton with customer parking and scope to expand into neighbouring units as and when they become available. The premises has been completed to a very high standard with a two large and one small soundproof room, a kitchen area, ten storage bays and a meeting room/co-working space.
The vendor has made significant improvements to the property and introduced a host of professional music equipment (circa £10k) with furnishings to offer a warm and welcoming environment for customers and requires no further investment from an incoming operator who can capitalise on the extensive, high quality fit out to date.
Viewing is essential to appreciate the quality of the business on offer.
LEASE TERMS:
The property is held on a leasehold rolling contract with six months termination notice for £1100pcm.
BUSINESS OPERATIONS:
Staffing:
There are no directly employed staff, this business is a hands-off operation, with cleaning and re-stocking of refreshments being completed by an external cleaning contractor.
Systems and Procedures:
Operational systems are in place to ensure clients can access the premises remotely with the use of customer specific coded entry system, which ensures the security of the premises.
GROWTH POTENTIAL:
There is significant potential for growth through expanded marketing efforts, expansion in floor space through additional units within the large mill style property that the unit is located within and/or expansion into additional locations which can be achieved by springboarding from this successful location.
FINANCIAL INFORMATION:
Detailed financial statements and forecasts can be provided to interested parties.
SALE TERMS AND CONDITIONS:
The sale is proposed as a complete transfer of the business entity, including all assets. The business is currently run as a limited company therefore, the business is made available by way of a 100% share sale.
MARKET ANALYSIS:
The music industry in Northampton, embodies a vibrant and eclectic scene, characterized by a rich mix of genres, artists, and music-related activities. Locations such as Audio Works help sustain a vibrant music culture and ensure a steady stream of new talent.
There is a small number of this type of facility available within the UK and flexible spaces are known to be a growing sector of the UK economy as customers seek out flexible and affordable high quality creative spaces.
FURTHER INFORMATION:
Further information is available by speaking with the us and viewings are strictly by appointment only as the sale of this business is strictly confidential.
For more information, please contact us.
