Asking price: £30,000

Sales revenue: £93,000

Net profit: £34,000

Fixtures value: Undisclosed

Stock value: Undisclosed

Business description
Lakey & Co are delighted to offer for sale this excellent business which was established over 20 years ago and offers sales, service and repair of white goods—fridges, freezers, washing machines etc.

The business offers for sale both new and reconditioned household appliances and also offers spares and repairs to most brands. The business also carries out portable appliance testing to schools, offices and other local businesses.

The growth of the private and student letting markets over the last few years has lead to significant growth in the business and our clients have excellent relationships with local letting and estate agents for both supply, service and repair of white goods in tenanted properties. As the rental market continues to grow, there is undoubtedly huge potential for the expansion of this part of the business.

There is definitely potential to grow the business beyond these current boundaries to cover the whole of the North East.

The business owns it own website which provides a further opportunity for potential growth.

Trading hours: Monday-Friday: 7.00am-4.30pm. Closing at 12.00 on Wednesday

Property: Leasehold

Lease terms
We are informed that the premises are held on a secure lease at a current rental of £150 per month. Although the premises offer an excellent base for this business, there is undoubtedly the potential to relocate should this be desired.

Location
The business is situated in Low Fell, close to the centre of Gateshead—offering easy access to the Newcastle conurbation and also to the A1 giving good access to both North and South. If required, it would be possible to relocate the business, although the current premises are held on a very low rent.

Reasons for selling
Our clients wish to retire.