Paul Hubbard Commercial is proud to present an exciting business opportunity with one of the leading water sports and beach lifestyle retailers on the East Coast.
Wet Dog currently operates from two locations, Cromer and Wells-next-the-sea, and specializes in selling high-quality apparel, equipment, and clothing for surfers, water sports enthusiasts, and those who enjoy the beach lifestyle all year around.
Since opening in 2012, the business has gone from strength to strength and is now recognised as the go-to place for both tourists and locals alike, having built up a fantastic reputation through their extensive product range, high-quality gear, and top-level customer service. The business was even voted in the Top 7 Independent Retailers in Norfolk in 2022 by the readers of the Eastern Daily Press, which shows how highly regarded they are locally.
Due to a change in circumstances, the owners are now looking to sell the business to someone with the passion and energy to build on their hard work and take the business to the next level.
Both shops are in fantastic locations, just a stone’s throw from the beaches in Cromer and Wells, which has helped them capitalise on the huge influx of visitors both towns receive over the summer months.
The business has exclusive contracts with some of the biggest brands in the industry, such as Rip Curl and Billabong, giving them a unique position in the market and the ability to cater to a wide range of customer needs.
In addition, both also stock a wide range of products from brands such as Quiksilver, O’Neill, Roxy, Reef, Havaianas, Santa Cruz, Saltrock, DryRobe, Hurley, Surf Worx, Aztron and Osprey, Nalu Beads, Northcore, Alder, Swim Secure, Sun Bum, and Sola.
Products include surf boards, body boards, stand-up paddle boards (SUPs), wet suits, dry robes, hoodies, hats, t-shirts, flip-flops, swimsuits, board shorts, sunglasses, and everything else you could possibly need for a day at the beach or on the waves.
Accounts information can be provided upon request, and further details on each location, including floorplans and lease information, is included in the brochure.
PROPERTIES
7 Tucker Street, Cromer, NR27 9HA
Rent payable: £12,000 p.a.
Lease: Rolling lease with 3-month notice period, with potential to agree to a new long-term lease with the landlord.
Floorspace: 782sq ft (72.2sq m) approx.
Parking: 1 private parking space to rear of property.
Location: The property is situated on a busy commercial road in Cromer on Tucker Street, alongside a number of other independent retailers. It is opposite Cromer Parish Church and has a number of pubs, restaurants and eateries nearby which cater to tourists and locals all year around. The shop is a short walk from Cromer seafront and pier, which presents fantastic opportunities to capitalise on the high footfall, especially throughout the summer months.
Additional Notes: The property is glass-fronted and is equipped with an air conditioning and heating unit. There is a spacious, open-plan retail area with a fitting room and access to the stock room, kitchen and WC. To the rear of the property is the exit to the private car park, which overlooks the seafront.
3 The Quay, Wells-next-the-Sea, NR23 1FA
Rent payable: £12,000 + VAT
Lease: 3-year lease with 2 years remaining and option to renew.
Floorspace: 575sq ft (53.5sq m) approx.
Parking: No private parking is available.
Location: This unit is in a stunning location overlooking the quay in Wells, which attracts an abundance of visitors all throughout the year. The business sits alongside a range of other independent establishments, including bakeries, seafood restaurants, gift shops, clothing outlets and many more, so this area benefits hugely from high footfall.
Additional Notes: The property has automatic sliding entrance doors which look out to the stunning view of the quay. Inside, the shop benefits from underfloor heating, an alarm and CCTV system and double-glazed windows. The main retail area includes a fitting room with access to the WC, kitchen/stock room and rear exit.
THE BUSINESS
The business currently operates from two locations but has previously had an additional unit in Sheringham, so there is scope and demand for the brand to expand into other coastal locations. Although it’s primary area is North Norfolk, there are few outlets in the region that are able to offer as many products from the core brands in the industry, so additional locations could be set up as far down as Southwold and Aldeburgh, depending on the new owners plans for growth.
The shop currently opens 7 days per week during the season, which runs from Easter until October and is of course the busiest time. The current owners have chosen to close the shop for 5 weeks at the start of each year and 1 week during November. However, one of the many benefits of running a lifestyle business is the flexibility and freedom to decide when to open and when not to.
The business does currently have a website and popular social media channels; however, the owners have identified these as areas that a new owner could really improve on. The existing website doesn’t have an e-commerce function, so this is something that could be improved to generate new streams of revenue and grow the Wet Dog brand.
The majority of existing customers do not live locally, so improving and growing the online presence of the business as well as bringing in new ordering functions to the website could be simple changes that help significantly increase revenue.
There are also certain product lines that could be introduced to both shops, such as children’s clothing and expanding the range of “Wet Dog” branded clothing, so there are a number of areas in which a new owner could look to improve early on.
The shop currently opens 7 days per week during the season, which runs from Easter until October and is of course the busiest time. The current owners have chosen to close the shop for 5 weeks at the start of each year and 1 week during November. However, one of the many benefits of running a lifestyle business is the flexibility and freedom to decide when to open and when not to.
The business does currently have a website and popular social media channels; however, the owners have identified these as areas that a new owner could really improve on. The existing website doesn’t have an e-commerce function, so this is something that could be improved to generate new streams of revenue and grow the Wet Dog brand.
The majority of existing customers do not live locally, so improving and growing the online presence of the business as well as bringing in new ordering functions to the website could be simple changes that help significantly increase revenue.
There are also certain product lines that could be introduced to both shops, such as children’s clothing and expanding the range of “Wet Dog” branded clothing, so there are a number of areas in which a new owner could look to improve early on.
