Long Established Leasehold Jewellers In South Devon For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business (see below).
- Turnover in excess of £170,000 pa (see financial summary below).
- A business with great potential which has not been fully exploited because the owners have not used a website or e-commerce.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition due to the exclusive rights in the area to sell a number of high profile
International brands.
- Business enjoys superb local reputation
- The concern provides Jewellery, watches, collectables, repairs and ear piercing.

History
Agents are delighted to place onto the market this Leasehold Jewellers which has been established since 1981. The business has been in the hands of the current owner since inception and they now wish to sell due to retirement.

Services
This very good business opportunity provides Jewellery, watches, collectables, repairs and ear piercing.

Owners Role
The owner is involved in the day to day running of the business.


Marketing
The owner markets the business in various tourist publications and publishes adverts in the local newspaper but doesn’t currently have a website.

Competition
As far as competition is concerned there are 6 other similar businesses in this popular tourist destination but this business has exclusive rights to sell more than 12 high profile international brands (please contact Phoenix Business Agents for more details).

Market
The client base consists of local residents with a high volume of tourist trade.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include Sunday trading during peak periods.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.

Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Property information

Property:

Leasehold

Leasehold rent:

££13,400 pa per annum

Location:

- Situated in the Town Centre area of Paignton in South Devon.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent free parking facilities nearby.
- Industrial estates nearby.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the A3022, A380 and A385.
- Torquay, Newton Abbot, Exeter, Exmouth and Plymouth all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.

Premises details:

The property is terraced, part of a parade of shops and is approximately 500 sq ft. The front is branded with an attractive glass front. There are electric shutters and a CCTV system. The main customer service area is carpeted with display units and shelving to the walls. It is very well presented and is very conveniently laid out.

To the rear is a store room. There is a toilet and staff facilities.

Business Operation

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include Sunday trading during peak periods.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce

Competition / Market:

As far as competition is concerned there are 6 other similar businesses in this popular tourist destination but this business has exclusive rights to sell more than 12 high profile international brands (please contact Phoenix Business Agents for more details).

Reasons for selling:

Retirement

Trading hours:

Monday to Saturday: 9am – 5.30pm
Sunday: Closed

Years established:

31 years

Other information

Support & training:

The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Furniture / Fixtures value:

£25,000 (included in the asking price)