Mens Formal Wear Hire Business In Lancashire For Sale

Business description

Hilton Smythe Commercial are delighted to introduce to the market, Winstanley's Morning Wear, which was established by our client's 6 years ago and they have worked tirelessly since then to form an enviable reputation and a fantastically profitable business.

The principal activities of the business lie in the hiring of formal menswear, for special occasions, which primarily have been weddings, school proms, official dinner engagements, etc. The business has also developed a customer base requiring Caribbean formal wear as part of its continental package.

The business has already secured numerous advanced bookings as far forward as 2013, and obtained deposits which alone will represent 25% of next years turnover, and are non refundable.

The contracts that have been secured with prestigious hotels, provide the business with ample custom, through the sale of wedding packages, which virtually guarantees income.

The shop is also unique as it is able to hold a large portfolio of stock, on site, in the spacious storage areas. Whereas, many competitors are forced to hire in stock to hire out to customers, incurring significant costs.

There is considerable scope for improvement, as previously, the business provided a home tailor service, however, due to the personal circumstances of our clients, this is no longer viable. Our client informs us that such a service would inevitably increase revenue and be fairly simple to re-instate.

Property information

Property:

Leasehold

Lease terms:

Leasehold, 6 Years in Total, 1 Year Remaining. The landlord is more than happy to negotiate new terms with a new tenant.

Leasehold rent:

£9,420 per annum

Location:

Winstanley's Morning Wear, occupies a most prominent corner position on the busy B6234, Union Road, one of the main roads into Oswaldtwistle. The small town of Oswaldtwistle lies in the borough of Hynburn, close to both Blackburn and Accrington, and is well connected with the motorway network via the M65. Being on a the main road into Oswaldtwistle, the business is very well served by public transport as it lies on a main bus route and is only a short walk from Church and Oswaldtwistle Rail Station.

Premises details:

The premises consists of a main retail area, which is completed to a high standard and with ample shelving and clothes rails throughout. The business benefits from a large window display, which has been well planned and executed to provide a valuable advertising opportunity.

Towards the rear of the retail area there are two changing rooms, and the main serving counter, leading through to a storage area, equipped with further shelving.

Towards the rear of the premises there is a small kitchen area / office and WC. Further storage is located in the basement of the premises accessed via a stairwell in the main retail area, and in the detached garage at the rear of the premises, which is accessed via a door from the rear of the property.

The premises has the added benefit of self contained gas central heating and is protected by a security alarm and roller shutters.

Energy Performance Rating:

F

Business Operation

Reasons for selling:

Retirement

Trading hours:

The owner has observed the following opening hours:
Monday - Friday 10:00 - 17:30
Saturday 09:00 - 1730

Employees:

At present the business is owner managed, employing two part time staff.

Years established:

6

Other information

Energy Performance Certificate:

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