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Profitable Jewellery Business In Cornwall For Sale

Padstow, Truro, Falmouth, Cornwall, UK
Asking Price:
Undisclosed
Turnover:
£200K - £500K
Net Profit:
£100K - £250K

This is a fully established and reputable business for over 20 years, ready for a new owner to step in and hit the ground running. The business currently operates from 3 locations in the county: Padstow, Falmouth and Truro. Turnover circa of £400K enjoys very high gross profit margins approaching 80% which compares favourably with a level of 50% more commonly achieved in the retail sector.

This golden opportunity has arisen due to the owners’ planned retirement and offers prospective purchasers to take over a successful business which is truly turn-key.

HIGHLIGHTS:
• Solid trading record 20+ years with identified opportunities for growth
• 3 prime locations in Cornwall with potential of expansion in the region
• Profitable business with high profit margins
• Run by a small team of knowledgeable and experienced staff.
• Comprehensive product offering
• Well-presented and fully fitted out stores
• Turnkey – walk in business with experienced team in each store
• Lucrative lifestyle business + huge growth potential and scalability for investors.
• Well established partnership with suppliers and brands
• Loyal, longstanding and repeat customer base
• All revenues derived from customers directly without need for marketing
• Scope for massive growth for e-commerce functionality

FINANCIAL OVERVIEW:
The business enjoys very high gross profit margins due in large part to its enviable supply chain which bypasses many wholesalers. Adjusted net profits (EBITDA and after removing costs which would not be inherited by the new owners) are in the region of £100K per annum.

INTERESTED?
Offers Invited

Property Information

Property:

Leasehold

Location:

PADSTOW
The culinary capital of Cornwall made famous by TV chef Rick Stein, the Padstow store occupies a prime location close to the harbour. Padstow welcomes a huge volume of visitors each year for its fine dining, attractive location, coastal walks and array of independent shops. It is one of the ‘go to’ places to visit in Cornwall. It also hosts the famous Obby Oss festival each Mayday.

FALMOUTH
A thriving port and university town, Falmouth has one of the deepest harbours in the world and is home to an array of sailing, diving and water sports. It has hosted the Tall Ships event, hosts an annual oyster festival and is home to the National Maritime Museum (Cornwall). It is a centre for the creative arts in the southwest. Falmouth is a working town and offers good year around trade from tourists and locals alike. The store is located along the prime shopping street of the town and is close by all the major attractions.

TRURO
Truro is the commercial, administrative, retail and cultural hub of the county. It boasts a 3 spired cathedral, museum and theatre/concert hall. The store is located within a few metres of the cathedral. The city lies in the centre of the county and offers year around trade that is less influenced by the annual influx of tourists.

Premises Details:

The stores are well presented and fully fitted out. The ambience is fresh, clean and inviting. Store design is imaginative, attractive and practical and the jewellery is presented in modern Italian display cabinets and well-lit with plentiful led light fittings. The stock is sourced from a unique array of workshops from the UK and around the world and tempts shoppers with an unmatched choice of high quality yet affordable range of sterling silver jewellery and select watch brands.
The business enjoys an enviable reputation with tourists and locals alike for its range of contemporary and classic silver jewellery set out in beautiful stores in prime retail locations.
Stock is controlled with the aid of a full stock management system and EPOS tills. The stores are held on secure long-term leases and enjoy a loyal and substantial customer base and are operated by experienced and dedicated team members.

Business Operation

Expansion Potential:

While the current set up offers a lucrative lifestyle business, it also offers huge growth potential and scalability for investors.

Reasons for selling:

Due to the owners’ planned retirement.