Very Profitable Modern Pound Shop In Accrington Reduced For Sale

Business description

The particular highlights of the business are:
• Incredibly well positioned with high levels of footfall.
• High levels of repeat local clients.
• A very traditional easily managed business offering modern product lines.
• An excellent opportunity for a husband/wife team.
• The business is well stocked yet has potential to introduce new lines.
• Turnover after 6-months trading in excess of £120,000 p.a, with exceptionally high gross profits.
• Very favorable lease terms (see lease details below).

History
Agents are delighted to place onto the market this exceptional high street easily run Pound-Store. The business has been in the hands of the current owner for only a short period of time but has developed exceptionally high turnover and profits within that time. Unexpected poor health requires a quick sale.

Services
The business is predominantly a store selling goods that retail at or around the £1.00 mark. The shop is laid out to maximise floor space and really would benefit from increased stocking levels and the introduction of new lines. The current owners have secured an exceptional trading location and provides an excellent platform for ongoing success.

Staffing
The concern doesn’t employ any additional staff. The current owners, two brothers, manage all aspects of the business.

Owners Role
The owners’ role is very much full-time and hands-on, working full-time within the business.

Marketing
There is very little active marketing of the business.

Competition
There are other wholesale style stores locally but this store benefits from it’s location and easy access.

Market
The business benefits locally attracted clients and tourists alike.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 1.5-years with an automatic renewal option. The current rent is £12,000 pa.

Leasehold rent:

£12,000 per annum

Location:

• Exceptional lifestyle change opportunity.
• High street location within bustling market town.
• High visibility with easy free on-street parking.
• The town has extensive facilities for example excellent schooling, leisure facilities, pubs, restaurants, etc..
• The town generates high levels of repeat local trade and extensive summer tourist business.
• The town is renowned for being affluent and vibrant.
• Excellent all round access and security.

Premises details:

The property is centrally located on the main high street leading towards the centre of the town. The building is of excellent presentation and repair.

From the main street, through a large glass door, there is approximately 1,500 sq ft of ground floor trading area. There is a selection of modern shelving units that display the merchandise. The counter/cash point is located at the front of the shop.

To the rear of the premises there is a toilet, store room, and fire exit.

Below the main ground floor is a basement of equal size and dimensions. This space is currently not used.

CCTV is installed.

Business Operation

Expansion potential:

The concern has potential. In particular the turnover and profits can be increased by:
• Extending the product lines, or increasing the current stocking levels.
• Introducing PDQ/card services.
• Doubling the trading area by extending into a large basement.
• Invest in new signage and promotion.
• Stock some convenience products to increase the footfall.

Competition / Market:

There are other wholesale style stores locally but this store benefits from its location and easy access.

Reasons for selling:

Ill health

Trading hours:

Monday to Saturday – 09.00 to 17.30 hrs.
Sunday – 10.00 to 16.30 hrs..

Employees:

n/a

Years established:

Less than 12-months

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:

£20,000 (included in the asking price)