Hilton Smythe is delighted to present to the market Suits (Newbury), an exceptionally presented formal menswear business.
Suits (Newbury) comes with over 20 years of trading history and is now being offered for sale to allow our client to concentrate on his other business interests.
Suits (Newbury) is an independent business specialising in Wedding suit hire.
There is a comprehensive
retail
and
hire
stock available on site, for hire or purchase -
Evening wear
Wedding attire
Royal Ascot
Highland wear
Everyday suits
Proms
Made to measure
The stock is regularly updated with both classic and modern formal wear as well as an extensive range of accessories -
Waistcoats
Ties
Neckwear
Hats
Footwear
Cufflinks
The business is open six days a week and currently operates a ‘Appointment Only policy to allow space for social distancing.
There is both an excellent website and Facebook page available detailing the comprehensive choice of clothing/accessories which allows new customers to see the ranges before making an appointment.
We are advised throughout peak wedding seasons, the business regularly caters for 6-10 weddings each weekend, and up to 17 weddings on bank holidays.
The business is currently split 70% hire and 30% retail sales.
Further growth potential -
Increased ‘Made to Measure’ work
More lower priced suits (around £120 price point)
More ‘Plus Sized’ suits & accessories
More advertising & wedding fair presence
Increased social media advertising
Extended opening hours
As you can see from the business photographs attached, the store is presented to an extremely high standard. The ‘Turn key’ opportunity will allow any new owner the ability to walk straight in and continue trading.
Key selling points -
Only business of this type/standard available to purchase
Weddings set to boom this year
Very well respected in the industry sector
Broad range of exceptionally maintained stock
Up to date Facebook page with lots of images
Business handover period offered
Further growth opportunity
Very desirable location & trading unit
Very rarely do businesses of this type, standard or location come on to the open market and we therefore highly recommend early viewing to avoid any disappointment.
Financial Profile
We are advised the business generated a turnover of circa £130,000 as of 2019, further financial information can be made available upon request.
