Bridal Wear Business In Somerset For Sale

Business description

LOCATION:
The business is located in Street in Somerset. The town’s economy is boosted to a significant extent by the draw of the Clarks Village retail development which stands in the heart of the town centre immediately behind the main High Street thoroughfare.

BUSINESS:
Long established bridal wear business operating from attractively presented high street premises in a thriving Somerset town. Offering both ready to wear gowns as well as a made to order service together with a full range of accessories the business has been operated by a sole trader without any assistance for a number of years. The made to order element boosts profit margins and performance and profitability has been consistent based upon steady demand. With a modest rent and low overall running costs this business would make an ideal first purchase for an experienced seamstress. We consider there is also an opportunity to offer a wider range of alterations and a bespoke tailoring service as well as to extend promotional activities through attendance of more wedding fairs and shows.

YEARS ESTABLISHED:
The business commenced trading in 1981 and is being offered for sale for the first time.

TRADE:
Please note that if a business is VAT registered, all figures exclude VAT.
Sales of £31,419 were reported for the year ended 30 April 2010 (£32,168 in year to 30 April 2009). The bespoke element serves to boost the overall gross profit margin to 73.5%.

NET PROFIT:
An abridged profit of £12,262 was achieved in the year ended 30 April 2010 (£12,152 in the prior year).

REASON FOR SALE:
The vendor has elderly parents requiring an increasing amount of care and wishes to semi retire to be able to spend more time with them. She would, however, be prepared to assist a new owner looking to expand the business by continuing to undertake seamstress work if required.

STAFF:
The business, which was originally operated by two partners, has been run by the vendor without any staff for several years.

OPENING HOURS:
Monday to Fridays: 9.15am to 5.00pm with early closing on Wednesdays at 1.15pm
Saturdays: 9.15am to 1.15pm
Sundays: Closed

BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
The shop occupies one side of a double fronted property laid out over two floors under a pitched and tiled roof. The adjacent unit is occupied by Boots Opticians and the first floor premises, which has its own entrance, is let as office space.

We understand that some years ago the premises suffered a significant fire and were largely rebuilt and completely refitted as a result. Accordingly the shop unit is presented to a high standard throughout and presents a most comfortable and modern image.

The shop benefits from a full height display window set in a wooden frame to the front elevation. The matching entrance door, which is half glazed and has a further glazed panel to the side, is set back slightly being accessed from an open lobby area shared with the neighbouring shop unit and the office above.

The door opens into:

Retail Area (7.9m x 3.6m in main area plus additional 2.0m x 2.0m space to the left rear):

In the recess to the left rear of the retail area there is:

A wooden door to the rear of the shop opens into:

Kitchen (2.5m x 1.7m):

WC:

Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.

PRIVATE ACCOMMODATION:
(all sizes are approximate & should be considered 'nominal'.)
None

OUTSIDE:
A door at rear of the shop gives access in the event of an emergency to a small rear terrace shared with the office occupying the first floor of the property.

LEASE TERMS:
The premises are occupied under a 9 year lease on repairing and insuring terms which runs until 2017. Rent of £7,000 per annum is payable, this being due for review in January 2012.

Property information

Property:

Leasehold