Leasehold Cartridge Recycling Business Ini Hitchin For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favourable lease terms (see below).
- Turnover in excess of £100,000 pa with a net profit of £30,000 (see financial summary below).
- A business with great potential which has not been exploited because of the current owner’s ill health and depleted staffing levels.
- An easily run operation.
- A good first time buyers business
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation
- The concern provides ink and laser cartridge refills, picture framing as well as portrait and studio photography.

History
Agents are delighted to place onto the market this Leasehold Retail Computer Consumables Outlet which has been established since 2003. The business has been in the hands of the current owner since 2003 and he now wishes to sell due to ill health.

Services
This very good business opportunity provides ink and laser cartridge refills, picture framing as well as portrait and studio photography.

Owners Role
The owner is involved in the day to day running of the business.

Marketing
No marketing or promoting of the business has recently been undertaken as the business is well known.

Competition
There is no local competition.

Market
The client base consists of regular repeat customers with high levels of passing trade.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the opening hours to include Wednesday and Sunday trading.
• Develop commercial contracts for refilling ink and laser cartridges.
• With an enhanced website.

Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.


The present annual turnover is £124,944 with a gross profit of £77,744 and a net profit of £30,000. The present value of the stock is £20,000.
The potential turnover of the business within the next 2 years is forecast to reach £160,000 pa given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.


Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 8 years with 4 months remaining. The rent is £14,000 pa with a review in December 2011. The lease is renewable and negotiable. The rates are £4,500.

Leasehold rent:

£14000pa per annum

Location:

- Situated in the town centre area of Hitchin in Hertfordshire.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent parking facilities nearby.
- Industrial estates nearby.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the A1 (M), A505, A602 and A600.
- Letchworth, Luton and Stevenage all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.

Premises details:

The property is terraced, part of a parade of shops and is approximately 800sq ft. The front is branded with an attractive glass front. The main customer service area is wooden wit shelving and racking to the walls. It is very well presented and is very conveniently laid out.

To the rear is a production area and store room. There is a toilet and staff facilities.

Size in square feet:

800 sq ft

Business Operation

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the opening hours to include Wednesday and Sunday trading.
• Develop commercial contracts for refilling ink and laser cartridges.
• With an enhanced website.

Competition / Market:

There is no local competition.

Reasons for selling:

he now wishes to sell due to ill health.

Trading hours:

Monday to Tuesday: 9.30am -4.00pm
Wednesday: Closed
Thursday to Saturday 9.30am -4.00pm
Sunday: Closed

Years established:

8 years

Other information

Support & training:

The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Furniture / Fixtures value:

£20,000 (included in the asking price)

Inventory / Stock value:

£20,000