Established Popular Bridal Boutique For Sale

Business description

Established spacious & popular bridal boutique selling affordable well known designer labels and bespoke gowns. Set on a busy high street with parking close by.

PREMISES

The business premise is on 2 floors with a large showroom downstairs and spacious and private, well appointed appointment room upstairs. This is one of the selling points of the store. This allows for drop in clients whilst still providing a completely private appointment upstairs. The premises are decorated and furnished to a very high standard allowing a very calming and comfortable effect for the clients.

The premises also have 1 toilet on each floor, a spacious upstairs storage / sewing room for the dresses, a downstairs office and downstairs kitchen along with a large understairs storage area.

The premises have been fully and tastefully refurbished over the last 3 years since it's establishment. One must visit the showroom to fully appreciate the careful planning that has gone into making this a wonderful shopping experience.

Located on a busy street near to the traffic lights with parking at the rear of the premises and around the corner in the public carpark. There are 4 hair salons, 3 beauticians and 2 tanning salons all in a 1 minute walk of the shop attracting the shops target market.

The premises are fully shuttered and barred downstairs with full alarm system in place. All fire regulatory requirements have been adhered to also.

STOCK

This wedding shop supplies a multitude of products including:
• Bridal gowns
• Bridesmaid dresses
• Evening gowns
• Prom dresses
• Veils, head dresses and tiaras
• Assortment of accessories

There are further stocks of discontinued lines, which the business predominantly sells to brides with only a few weeks to their weddings and on a small budget. These stocks are currently sold in store and over the internet.

Stock is currently in the region of £40,000 which is included in the selling price. This is based on the minimum cost price not the retail price of the goods - many of these gowns could be sold in the sale for more than the cost price. New stocks have been bought twice a year from current supplier collections therefore the samples have a longshelf life - some have a permanent shelf life as a few of the designers will never discontinue the styles of dresses.

This business has clearly established its own level of uniqueness, offering spacious surroundings, private appointments and varied and large range of good quality, affordable dresses. The retail prices starts at £300 ranging up to £1500. The average selling price of a dress is approx £650. The stocks comprise of well known brands Je T'aime, D'Zage, Veromia, Justin Alexander, Cascata, Jodi Couture, Carmella, Richard Designs, Meadows Bridal Shoes. However, due to the shops distance from Cardiff and Newport the shop has been approached to stock other top selling lines. A supplier will not sell the same lines to another shop within a 7 to 10 mile radius.


CUSTOMER SERVICE
This business offers an excellent level of customer service in a welcoming and relaxed environment. The shop is renowned for it's honest approach, it's knowledge of not only the dresses but of local suppliers and the trends in the market place. Also for it's flexible approach and ease in making a decision without a hard sell. Every customer is made to feel special. It has often been commented that this store is one of few that manages to make the shopping experience enjoyable as the clients feel at ease, are not rushed (albeit only 1 hour appointments) and given help to them to make the right choice for their special day.

SERVICE
All steaming and pressing is done on site.

All alterations are carried out by a regular independent seamstress who visits the store on certain dates for the fittings. 2 fittings are normally required. The sewing is carried out at her own studio. We also have a list of recommended seamstresses and pattern makers for any additional work. An external dry cleaner is also used and exceptional discounts are in place to be used by the company or passed on to the clients.

CLIENT BASE

The business attracts clients principally from the local surrounding areas however through word of mouth it has attracted clients UK wide and even a few international clients via the web site and credit card phone payment system.

The shop also attracts repeat business with bridesmaids returning for wedding dresses vice versa and also for evening wear or prom wear.

ADVERTISING & PROMOTION

The business is currently advertised in local & UK wide glossy bridal magazines & promotional CDs, Yell.com, BT directory, Thomson directory, local magazines, internet directories, links from other websites, in other bridal supplier shops, TV adverts & business cards in local Tesco's & the local leisure centre, as well as having its own website. The shop exhibits at local wedding fayres ca. 8 to 10 times per annum, as well as holding it's own charity fashion shows, open evenings, designer days etc. It has also had extensive free PR coverage in the local papers since it's inception due to it's innovative approach to the bridal industry, new collections and charity event participation.

The business has a highly professional website which has been carefully designed which allows optimum usage. Also allowing the owner the ability to update certain elements at their leisure reducing the wait time and cost of a web designer.

The business benefits from promotion through an established wedding industry supplier network eg photographers, cake makers, car hire etc.

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.

Turnover has grown year on year since it was opened 3 years ago. In it's 2nd year £45k which will be exceeded this year ca. £55k. Gross Profit runs currently at 55%. This will further increase now the shop is established and word of mouth promotion is occuring. Along with the new product lines such as prom wear which was introduced this year and the additional income streams that are being established.

ADDITIONAL INCOME STREAMS
There are a number of commission based agreements in place with wedding ring suppliers, florist, dry cleaners, chocolate fountains etc. Through recommendation or simply taking orders the shop can earn additional income or pass the commission on as a discount to it's clients to use as a USP.

TRADING HOURS
Tuesday –Saturday: 1000-1600
with late night opening on Wednesday evening by appointment only
Closed Sunday & Monday through choice

EMPLOYEES
It is run by one full time member of staff and a part time member of staff on a Saturday.

INCLUDED IN THE PRICE
As well as stock of dresses and accessories the owner is willing to leave all fixtures and fittings (curtains, light fittings, mirrors, rails, sofas, chairs etc) which will be listed at the time of purchase.

EXPANSION OPPORTUNITIES
BUILDING
The landlord who also manages a building company is willing to expand the premises to the back both on the ground floor and upper floor if required. Rent currently stands at £9,500 on a 3 year guaranteed lease paid quarterly in advance with a bond equivalent to 3 months.

OTHER
The additional income streams through promotion of other suppliers in the industry and by stocking sale or return items such as jewellery etc is something that can be developed as it will also provide further free promotion of the shop.

Also the prom wear and evening wear can be expanded along with holy communion & christening dresses.

Menswear is also an option with only 1 additional member of staff and minimum outlay for sample stock.

Also, there is a gap in the local market place for mother of the bride clothing (none traditional but exclusive pieces) as this

Property information

Property:

Leasehold

Lease terms:

3 years lease with option of quartery hold over months recently renewed. 3 month bond. Rent £9,500 paid in advance on a quarterly basis.

Location:

Located on a busy street near to the traffic lights with parking at the rear of the premises and around the corner in the public carpark. There are 4 hair salons, 3 beauticians and 2 tanning salons all in a 1 minute walk of the shop attracting the shops target market.

Other information

Expansion potential:

BUILDING
The landlord who also manages a building company is willing to expand the premises to the back both on the ground floor and upper floor if required. Rent currently stands at £9,500 on a 3 year guaranteed lease paid quarterly in advance with a bond equivalent to 3 months.

OTHER
The additional income streams through promotion of other suppliers in the industry and by stocking sale or return items such as jewellery etc is something that can be developed as it will also provide further free promotion of the shop.

Also the prom wear and evening wear can be expanded along with holy communion & christening dresses.

Menswear is also an option with only 1 additional member of staff and minimum outlay for sample stock.

Also, there is a gap in the local market place for mother of the bride clothing (none traditional but exclusive pieces) as this can also be sold to wedding guests and for other events.

Another element is to bring the alterations in house as there is a lack of seamstresses available (or known about). The store already benefits from referrals from other businesses such as curtain alteration shops etc in the area.

There is also an opportunity to sell dresses online and wholesale as the groundwork for this opportunity has been researched and the samples already purchased direct from the manufacturer. The only thing to do now is to approach other bridal houses with the first collection and sell them as your own brand!

With additional staff or more time from an individual longer opening hours (especially Sundays and later evenings) would benefit the shop.

Competition / Market:

There is only one other bridal shop in the local vicinity which has only recently opened up which stocks different brands (not as well known). It is a much smaller shop.

Support & training:

The owner will provide full business familiarisation, training and handover as required to ensure a smooth transfer of the business to new owners, and would even be prepared to act as a consultant for an agreed period should a new owner so require, subject to negotiation.

Reasons for selling:

The current owner has been offered an alternative opportunity in another business and maybe moving abroad.

Trading hours:

Tues to Sat 10am to 4pm with late nights on Wednesday. Closed Sunday & Monday. This is through choice and can be changed to suit the new owner.

Financing available:

We are flexible in discussing proposals

Furniture / Fixtures value:

£6,000

Inventory / Stock value:

£45,000

Contact the seller

For more information about this business for sale, click the Contact Seller button.

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