Two Upmarket Jewellery And Gift Shops In London For Sale

Business description

HISTORY

• The shops were both founded by the vendors, one over 11 years ago and the other over 6 years ago.

REASON FOR SALE

• The business is only now being reluctantly offered for sale as the vendors are planning to move to the south coast.

PRODUCTS

• The business specialises in the sale of upmarket branded jewellery, gifts and toiletries.
• Many of the brands are supplied on an exclusivity basis to the area.
• Jewellery accounts for circa 65% of turnover, brands include: Kit Heath, D for Diamond, Pilgrim, Truth, Michal Negrin.
• Gifts and toiletries account for 35% of turnover and include: Fossil, Tyler & Tyler, Aston Brown, Big Tomato, Lily Flame, Beatrix Potter, Nougat, Di Palomo, Abahna and True Grace.

CUSTOMERS

• Customers are mostly a mix of people either living or working in the area or tourists.
• The business offers a discount scheme to nearby large employers on production of their staff. identity badge and a loyalty card, which when completed entitles the holder to a discount on the next purchase.

STRENGTHS

• 2 well established shops which have been trading for 11 years and 6 years.
• High visibility locations on busy parades in upmarket areas.
• Both shops are very well presented throughout, with new owners having nothing to do on take over.
• Excellent combined net annual sales of circa £272,000 with high gross profits of approximately 69%.
• Outstanding net profits of circa £85,000 per annum which is being achieved consistently.


DISCLAIMER: Viewing is essential to fully appreciate this business and strictly by appointment only through the agents. N/B: All Negotiations must be conducted through Advent Business Sales. These details do not constitute part of an offer or contract and properties are offered subject to being sold, let or withdrawn without notice at any time and without liability for any expenses incurred by applicants. All statements and descriptions are made without responsibility or warranty by us, vendors or lessors. Intending purchasers must check for themselves (Misrepresentation Act 1967).

An Energy Performance Certificate will be made available upon request of further details where one is required for the business premises

Property information

Property:

Leasehold

Location:

• The business operates from 2 separate premises, both of which are situated in up-market boroughs of London.
• Both shops have busy parade locations and are surrounded by speciality shops, restaurants, coffee bars, estate agents, banks and deli’s and other independent retailers.

Premises details:

Shop 1
• Ground floor lock up.
• Raised flower beds in front of the shop, attractive window display, contemporary design and very well presented and with a good ambience.
• Under floor heating, tiled stone floor, LED spot lights to the ceiling.
• Mixed jewellery and gifts.
• Cabinets which are all glass and lit and built into the walls.
• Rear serve over counter and till
• Back store area.
• Kitchen and w/c.
• The premises are fully alarmed.

Shop 2
• Ground floor lock up.
• Also has an attractive window display with an awning over.
• Tiled floor, contemporary design interior.
• Mixed jewellery and gift cabinets which are all lit up and built into the walls.
• Rear serve over counter and till.
• Back stores area.
• Kitchen and w/c.
• Gas combi boiler.
• Back yard.
• The premises are fully double glazed and alarmed.
• Both shops have local car parks and meters on street.

Business Operation

Expansion potential:

• The 2 vendors only presently work 2 days a week in the shops, a new owner working full time could possibly reduce staff costs.
• Open another store or stores to replicate the success of the current 2 shops.
• Further Increase online sales from the already established website.

Trading hours:

• Mon to Sat: 9.30am to 6pm
• Sun: 11am to 5pm
• Both shops open for the same times

Employees:

Shop 1 • 1 full time employee, the vendor for 2 days a week and a Saturday only girl. Shop 2 - The other store has a vendor for 2 days a week, 1 part time employee for 3½ days a week and a Saturday only girl