Musical Instrument Shop In East Sussex For Sale

Business description

A highly successful musical instrument shop which has been in the same family hands since it was established in 1960. It is a stockist of most leading makes of professional and semi-professional equipment which for the most part comprises guitars, keyboards, amplification and P.A. equipment, home recording, multi-track and other small instruments.

Annual accounts for the year ended 31st August 2005 confirm that sales reached £127,976, (exclusive of V.A.T.), with £43,406 gross profit being achieved. A gross profit margin of 34%.

Although the shop caters for a wide cross-section of customers from absolute beginners to working professionals, the current trend is a move towards more specialist equipment and higher priced items. Our client also undertakes some repair work.

Every assistance will be given to new owners by the vendor, who is also prepared to work as a consultant for a six month period, if required.

No price is being sought for the Goodwill and Lease. Stock to purchased at valuation approximately £35,000-£45,000.

Property information

Property:

Leasehold

Lease terms:

This is preliminary information, subject to confirmation. A 12 year lease from 29th September 2005 with 4 yearly rent reviews at a basic commencing rent of £5,700 per annum. Tenant’s break clauses at 4 and 8 years.

Location:

The shop is situated in the centre of a busy East Sussex town. There is two hour kerbside parking to parts of the road and a wide variety of other shops and businesses nearby which include Unwins Off Licence, Tote Bookmakers, estate agency, Boot’s The Chemist, Co-Op convenience store, Supa Snaps, Going Places, Wimpy, etc.

Business Operation

Reasons for selling:

Retirement sale.

Trading hours:

9.00 a.m. to 5.00 p.m. Monday, Tuesday, Thursday, Friday. 9.00 a.m. to 1.00 p.m. Wednesday. 9.00 a.m. to 4.30 p.m. Saturday.

Employees:

The vendor full time. Casual part time staff required on Friday and Saturday.

Years established:

48+ years.

Other information

Inventory / Stock value:

£35,000