High Street Jewellery Retailer For Sale

Business description

Summary:
Established in excess of fifty years ago and under the current ownership for over half of that time, the business is a traditional jewellers which also offers a watch repair service carried out by the vendor, and a jewellery repair service which is sub contracted. The vendor would consider continuing carrying out the watch repairs is necessary once the business is sold. The customer base is compiled from a radius of approximately ten miles with many being regulars.

Turnover:
Accounts show an annual turnover of £95,970 to 30/9/05, and £88,284 to 30/9/06 with a gross profit of 49.5%. We are informed that the last year was very similar to the previous.

Stock:
To be purchased separately at valuation: Approximately £30,000. This can be reduced if necessary.

Rates:
Business rates payable of £1,700 pa with small business relief.

Legal Fees:
Vendors and purchasers to meet their own contractual costs; purchaser to meet the reasonable costs in establishing any new lease.

Property information

Property:

Leasehold

Lease terms:

The current lease expires in September 2010, however we are informed that a new lease would be available. Current rent £8,500 pa.

Location:

Excellent exterior window display area, sales area with various display cabinets. First floor, office, kitchen and toilet. Shutters to front.

Other information

Reasons for selling:

The vendors are retiring.

Trading hours:

9.30 am to 5.00 pm Monday to Saturday.

Financing available:

The business should readily support loan finance subject to status. For further information please contact Dedman Business Sales.

Contact the seller