Somerset Retail Jewellery Business For Sale

Business description

• Leasehold general jewellery shop
• North Somerset market town
• With good repair business
• Giftware, watches & Jewellery
• Large two-storey premises
• Abridged profits above £25,000


BUSINESS:
Established in 1976, the business has been owned by the vendor since 1986.
The Agents understand that, with the exception of Argos, this is the only jewellery business in Midsomer Norton. It therefore provides for the needs of the town, which is rapidly expanding, and the surrounding villages. The business benefits from many long-standing, repeat customers.

The shop also has a good repair business which accounts for approximately 30% of the turnover.

The business predominantly sells mid-range products, but excludes branded jewellery. However, Seiko, Lorus and Pulsar watches are stocked, along with a good range of other clocks and watches.

TRADE:
Sales of £142,000 were reported for the year ended 31 May 2010, a rise from the previous year.

The gross profit margin is high at 57.1% and has been very stable over the years.

An abridged profit in excess of £25,000 was achieved after rent of £18,000 and wages of £26,000.

The vendor owns the freehold and a rent concession is negotiable as part of the overall deal.


Please note that if a business is VAT registered, all figures exclude VAT.
STAFF:
The vendor works in the business and is assisted by one full-time, one part-time and one Saturday girl.

HOURS:
Monday - Saturday 9.00am - 5.00pm

BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
Located on a highly visible corner site, in the centre of the High Street, which is currently undergoing a pedestrian facelift. The shop has a prominent facia board and has display windows on two sides. A major supermarket is virtually opposite on the other side of the one-way High Street.

The premises are on two floors and consist of the retail area, work-shop area, 2 store rooms, cloakroom and kitchenette.

Retail Area: (4m (widest) x 10m)
Recessed and defused lighting; carpeted and fitted out with light wood display counter, lockable window, wall and circular display units; glass shelved units. CCTV cameras, till, telephone, credit card reader.

Access to stairs and workshop.

Workshop: (4.2m x 1.5m)
Fitted worktop; CCTV and safe.

Access to store room.

Store Room 1: (5.0m x 6.1m longest)

Fire Exit to service area and staff parking

First Floor:
Stairs to hall, with doors leading to :

Cloakroom:
With basin and separate WC cubicle.

Kitchenette:
Fitted with sink and units. Microwave; kettle; fridge.

Store Room 2: (3.5m x 4.4m longest)
Currently used by the vendor for another business but will be vacated on the sale of the business. This room could be used as additional retail space or for storage/workshop

Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
OUTSIDE:
Two parking spaces in the service area to the rear of the premises.

TENURE:
Leasehold - with a new flexible lease to be drawn up.

COMMENTS:
A very well established and presented business with excellent opportunities to increase the retail sales area. Limited competition and loyal customers who benefit from a very personal service.

STOCK:
The vendor informs us that the value of the stock is approximately £65,000 - £70,000, but this could be reduced to meet the requirements of a buyer and the vendor is willing to consider allowing the purchaser to pay for it over a period.

Property information

Property:

Leasehold