Established Musical Instrument Retailer For Sale

Business description

With a prominently located franchised retail outlet established early in 2004, this shop could be described as an Aladdin's Cave of musical instruments. They carry a huge range of acoustic, folk, Celtic and world musical instruments to try out and compare.

The staff are friendly and knowledgeable and are always happy to give pressure-free advice on the huge and varied stock of new and used musical instruments and extra items that are always in stock.

The shop is a mere six minutes from J14 on the M1 and in a lively old town which has become part of the Milton Keynes conurbation. There is free car parking outside and behind the shop.

As a specialist niche supplier the shop is well known, not just locally, but to a wider geographic area as well, with customers regularly visiting from 2-3 hours drive away. The business offers a full range of folk and acoustic instruments that includes violins, mandolays, banjos and guitars. This is a real musicians shop.

The business also offers a full instrument repair service and has the services of an experienced repairer and restorer who is a violin maker by trade and so violin repairs and restorations are a specialty of this shop.

As a franchisee of a major international group the business benefits from advertising and buying power of the larger group while still retaining the personal service and local touch of the independent. Franchise fees are moderate with only 1% of gross turnover payable for advertising and slightly less than 1% payable as the franchise fee. Costs that are easily recouped through the level of advertising, both media and internet and from the savings made on purchasing stock etc. This provides a strong and financially advantageous base for the business, both now and for the foreseeable future.

Unfortunately the owner needs to re-locate for family reasons, thus offering this superb retail opportunity for sale to an aspiring musician or interested business person.

Customer Service:

This business believes its customers should experience highly rewarding levels of satisfaction each and every time they deal with the shop. This level of satisfaction is fuelled by the highest quality of products and services being provided, backed up by a truly professional yet friendly, level of service.





Key Strengths:

Being part of an international franchise operation means that the business benefits from a comprehensive catalogue and from media and internet advertising that an independent could only ever dream about and at a fraction of the cost that an independent would pay.

In addition the business also benefits from a strong buying structure that the franchise operation has in place. A structure that means the shop benefits from much higher levels of discounts and buying prices, than would normally be expected for a high street retailer.

Financial Information:

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

Sales revenue is circa £210,000 per annum and the vendor feels that with a full time owner on site providing greater focus on sales and marketing combined with existing growth patterns the business could dramatically increase its revenues.

Property information

Property:

Leasehold

Location:

The premises are a double glass fronted shop located on a corner of this busy main road in the middle of the town centre, with plenty of free parking, both outside and behind the shop.

Business Operation

Expansion potential:

Interest in music and musical instruments is a constantly growing area of society, with people starting not just as children, but with adults of all ages, looking for ways to decrease stress and increase leisure and pleasure times. This means that the current market for this business is growing and is forecast in the near and longer term for significant growth. The business is well positioned to take maximum advantage of this growth as it occurs.

Competition / Market:

The business does not have its own web presence, relying on the franchise operations website and there is no doubt that turnover and profits could increase using this additional medium. A professionally designed website could allow potential customers to view the extensive range of instruments on offer, and give excellent potential to increase the turnover in the future. There is currently no advertising or marketing other than that offered by the franchisor, however strong word of mouth recommendation is key to the success of this longstanding business. With a more focused approach to sales and marketing there is little doubt that significant growth could easily be established.

Reasons for selling:

Due to family commitments the owner now has to re-locate to another part of the country.

Trading hours:

Monday – Friday 10.00 – 5.30
Saturday 09.00 – 5.00

Employees:

The shop is primarily staff run with the owner visiting on a part time basis. There is currently one full time staff member, with additional help available as required.

Years established:

2004

Other information

Support & training:

The current owner will provide all necessary training and handover to ensure a smooth transfer of the business to new owners.