Mobile Retailer Of Equestrian Clothing Equipment And Accessories For Sale

Business description

Mobile retailer of equestrian clothing, equipment and accessories specializing in appearances at Horse Shows throughout the UK with an added e-commerce presence

Now in its fifteenth very successful year, this mobile retailer specialises in the equestrian sector, covering almost thirty major horse shows throughout the UK, normally scheduled between March and November. As well as its significant presence on the ‘circuit’, the business also operates a rapidly growing and highly effective e-commerce site.

This innovative and exciting retail concept was launched on the horse show circuit in 1996 and has firmly established for itself a worldwide reputation for excellence in the supply of equestrian goods. Stocking a wide range of casual clothing and accessories, footwear, gaiters and half chaps, riding wear and equestrian supplies, this is literally a ‘one stop shop’ for the equestrian enthusiast, stocking all of the current season lines from all of the major manufacturers, including some accounts that are extremely difficult to secure. The business also stocks many items that competitors often forget – low value items such as needles and bands for plaiting horse’s manes and tails for example which drives additional traffic to the stand and which often results in far more significant purchases, as customers see the depth and breadth of merchandise available.

This business is committed to the very highest standards of quality products and customer care. It is particularly renowned for its expertise and experience in fitting gaiters and half chaps. As a result the business has a very loyal Client base - with customers always seeking out this business’s stand when it arrives at ‘their’ show. Transactions regularly stretch into several hundreds of pounds.

With such a longstanding presence on the ‘circuit’ and with such an impressive range of merchandise, this business automatically commands the very best positions on each and every showground on which it appears, providing one of the best shopping experiences available. And the heavy promotion of each and every event before and during their staging, ensures maximum exposure and footfall. Originally housed in a stand alone awning, the business ‘upgraded’ to a purpose built and highly equipped wagon in 2010 which includes four sleeping compartments and ample room for significant stockholding, together with a 40’ marquee as the retail area.

Turnover has increased significantly for this business over the past few years reaching approximately £320,000 for the financial year ending 2010, generating gross profits of almost £120,000 and profits available to the Owner of the business of approximately £20,000. As such this represents an excellent opportunity for a new entrant to the sector to acquire a mobile retail business very well established on the equestrian circuit or for anyone interested in equestrianism looking for a fun and enjoyable lifestyle business.

Key strengths:

Having been on the ‘circuit’ for fifteen years, this is a very well established fixture at all the major horse shows around the UK concentrating on the elite shows and filling in with more ‘bread and butter’ shows in surrounding areas when appropriate. As a result of its longstanding presence the business enjoys high levels of awareness. It is always located in the same excellent, prominent positions, ensuring high levels of footfall and that regular customers can easily find it. With an Internet site and an e-bay presence used as a tool for clearance of slow moving lines, the business has all ‘non fixed’ retail channels covered.

Mobile, this business is in the enviable position of being located on a different ‘High Street’ with a different set of customers each and every week. It is a strong, cash based business retailing merchandise very much at the top end of the market to consumers on a day out, in the mood for spending and who are less price sensitive than most.

Operating from a home office environment and when out on the road, from a purpose built truck, such are the facilities available, the operators of the business are able to live within the truck, minimizing overheads. This business offers a high quality service to ensure its customers get everything they want, particularly in relation to its expertise in fitting gaiters and half chaps, for example. Its philosophy of ensuring that customers get products that fit best rather than the most expensive, enhances its reputation for professionalism and ensures high levels of repeat business.

With ample storage available, the business is able to carry a breadth and depth of stock not readily available from its competitors. Operating in a sector where normally if you haven’t got it, you can’t sell it, such is the reputation of this business that customers are more than happy to have product delivered later if it isn’t readily available. The business’s appearance on the circuit also drives traffic online, with customers taking advantage of the business’s expert fitting service, with half chaps and gaiters, for example whilst at the show.

This is a very easily managed business which can be run from anywhere. It has excellent relationships with all of its suppliers – with accounts that are not easily secured. The business is in fact one of the top sellers for some of the leading brands in the equestrian sector.

Key opportunities:

With a strong demand for its offering, there is an outstanding opportunity to build on the product range and customer base of this business. A new owner contributing fresh initiatives and enthusiasm, particularly in relation to sales and marketing, will have every opportunity to build on an excellent platform.

The business concentrates mainly on major shows. There are many other shows available at which this business doesn’t currently appear, particularly in Scotland. Although the ‘downtime’ from the circuit, between November and March, is currently used in relation to web marketing, additional efforts in this area, database marketing to previous purchasers and the use of search engine optimisation techniques to boost the business’s off circuit sales for example, would significantly impact on the turnover and profitability of the business.

There is also an excellent opportunity to leverage the reputation the business has built up together with its major loyal customer base to launch new products in the market secure in the knowledge that they will enjoy a high level of awareness in a very short period of time, at a relatively low cost.

Financial Information:

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

Turnover for the financial year ending April 2010 was slightly in excess of £320,000 generating gross profits of almost £120,000.

The Asking Price of £135,000 is for a sale of 100% of the shares in the business based on a Balance Sheet value of £20,000.

Property information

Location:

There are no premises included with the sale. As such the business is easily re-locatable.

Included within the sale is a Scania 260 truck, purpose built and modified as a result of the learning and experience of the current owner of working on the circuit. The truck sleeps four persons and includes full catering and WC facilities and ample storage for the retail marquee and the stock which is topped up throughout the season.

Business Operation

Competition / Market:

Having been established on the horse show circuit for fifteen successful years this business has little need of high levels of investment in marketing and advertising, benefiting from high levels of repeat business from loyal customers. The business has a very attractively designed, informative and easy to transact website that performs very well within all major search engines for all appropriate search topics. The site also features a list of shows at which this business will appear. The site captures the contact details of purchasers, also supported by paper records recording customer purchases at shows, resulting in a very effective customer database. The business benefits most however from the most powerful form of marketing, word of mouth recommendation, testimony to the high levels of customer satisfaction the business generates.

Reasons for selling:

Having operated the business for the past fifteen years, the current Owner believes the time is right to pass the business on to new owners to build on the excellent foundations already laid.

Employees:

The owner of the business is ultimately responsible for the financial and the day-to-day operation of the business, supported by additional staff for sales roles, recruited specifically for the ‘circuit’ season. Due to its importance and stature at the major shows, the business also benefits from additional sales support from major suppliers at certain shows.

Other information

Support & training:

The current Owner will provide full training and handover to ensure a smooth transfer of the business to new Owners.

Relocatable:

This business can be relocated.