High Quality Solid Wood Furniture Retailer For Sale

Business description

High Quality Solid Wood Furniture Retailer
Superb Market Town Location

This business set up by the vendor back in 1995 is ideally located within a prominent market town in West Cumbria. Since its inception some 14 years ago the business has developed to become a real destination retailer within the town and region it serves so well.

As an independent retailer the business enjoys sourcing a range of stylish high quality furniture and accessories from home and abroad. (The majority being UK sourced). With constantly changing stock the company is proud to offer customers something personal and unique that will enhance their homes. The business offers contemporary and traditional solid wood furniture, mainly oak and pine, specialising in bedroom and dining furniture, leather and upholstered sofa’s, soft furnishings and occasional furniture.

The business moved to its current premises almost 2 years ago. The current site has really helped the business grow as it provides better facilities including improved showroom, customer parking and improved delivery and storage facilities. This has also enabled it to improve supplier relationships.

The business enjoys a varied client base of young couples, professional people, retired couples and passing trade.

Customer Service:

The business considers simply that satisfied customers come back and on this basis has maintained levels of product and service quality intended to best guarantee this satisfaction. The results of this commitment are evident in the degree of return custom and the high level of new business coming from referrals.

Key Strengths:

As with any business of this nature location is a key factor. The business has an outstanding location in the town and the premises are beautifully presented.

There are no other retailers of a similar nature in the area. There may be other independent furniture retailers but few would be able to offer such a high quality environment and unusual product range making this a truly wonderful shopping experience. This together with the excellent reputation, knowledgeable staff and levels of service sets this business apart. The business is well positioned for future growth as all the necessary foundations are already in place. It is well established and makes very good profits year on year.

Key Opportunities:

The business would certainly benefit from a more active sales and marketing campaign including the development of an improved internet presence that would increase market exposure and enable further online sales and enquiries.

Having achieved very impressive growth over the years the business has built up an excellent reputation within the surrounding area. There is plenty of scope for expansion within the existing market as the company has very strong supplier relationships, which ensures they offer the most up to date in demand yet unique products to clients.

The business would also benefit from the development of a database to ensure all its customers, both past and present are kept up to date of the latest trends and offerings. There is also scope to service the thriving Bed and Breakfast, Hotel and Holiday Cottage market in the region, an area the business has not proactively targeted to date.

The business could also look at offering credit facilities to regular clients.

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.

Turnover for the last financial year was £470,000 generating Gross Profits of circa £168,000. Resultant net profits were £73,000. The business is enjoying strong growth year on year and has a growing customer base. The premises are ideally located in a busy market town and the business has a strong infrastructure. This business represents an ideal lifestyle opportunity with excellent profitability. Current stock levels are circa £50,000.

Property information

Property:

Leasehold

Lease terms:

Current rent is £26,000 p.a. Rates are £9000 p.a. There are 5 years remaining on the original 7 year lease.

Location:

The business is situated 5 minutes walk from the main high street of the destination town it serves. It has excellent shop frontage and high ceilings. The premises are leasehold and comprise single storey showroom showcasing a large array of furniture and accessories, as well as office, staff kitchen and toilets. It also has a secondary showroom with adjoining warehouse facilities.

Total showroom space is in excess of 3000 square feet. Total storage/warehouse space is circa 5,500 square feet. The hard surface car park is circa 7,500 square feet.

The business has parking for up to 20 vehicles which is a real benefit to customers, as well as for ease of deliveries and collections.

Current rent is £26,000 p.a. Rates are £9000 p.a. There are 5 years remaining on the original 7 year lease.

Other information

Expansion potential:

The area enjoys good levels of tourism and because of this the business has customers that extend beyond the local community. It has clients as far afield as London, Cambridge and Oxford such is the quality and value of its furniture and service. The business would benefit tremendously from a more interactive website and the development of a database and marketing campaign to fully exploit these opportunities. The current premises could easily accommodate increased sales to the tune of circa £1million. p.a.

Competition / Market:

The business currently undertakes a limited level of advertising via local newspapers. There are excellent opportunities to increase this and to develop a more interactive internet presence so as to enable more online sales as well as to market the business more aggressively. A high proportion of the business's revenue has been due to its excellent reputation for quality and service and strong word of mouth recommendation.

Support & training:

The current owner would be happy to provide full training and support at handover.

Reasons for selling:

The vendor is wishing to retire.

Trading hours:

Monday – Saturday 0900-1700