Asking price: £150,000

Sales revenue: £385,000

Net profit: £43,000

Fixtures value: Undisclosed

Stock value: Undisclosed

Business description
This established and successful carpet and flooring shop has an extremely good reputation in this very affluent area. All of the products are from top quality manufacturers who give excellent after sales support and the benefit of volume discount, with no local competitor undercutting prices.

Since inception in 1990 this business has earned an impeccable reputation for its large inventory of durable quality carpet and flooring, knowledgeable skilled staff, convenient hours and competitive pricing. The Company continues to prosper from the very large client base with plenty of regular repeat business being obtained.

The aim of the business is a traditional one, to provide value for money and outstanding quality and service. Flexible and personal advice is offered to all clients, quotes are inclusive of everything from fitting to any extra accessories. Regular repeat business from the multitude of clients is testimony to the business's unrivalled reputation for quality service.

Customer enquiries are all dealt with on a personal level, giving a friendly atmosphere to the shop, so whether customers want to browse and choose from many quality carpets giving customers fantastic wall-to-wall choice or need a bit of friendly advice, they always receive a warm welcome.

This business maintains an extensive base of satisfied clients that appreciate the prompt and friendly service. The owner and staff pay great care and attention to the needs of their customers, from measuring & planning to final fitting and honestly gives a realistic price and timescale. This customer commitment has gained a unique competitive advantage for the business.

This is a perfect opportunity for a first time buyer wanting to buy an established profitable business ripe for expansion or a company presently in the business that wishes to expand into this location.

The business’ success can be attributed to all of the hard work that has been put in over the years, always ensuring that jobs are effectively completed on time, never letting customers down. The vendor advises us that this is a good lucrative business for someone prepared to put the work in to build on this excellent base and gain the rewards.

Customer Service:

This Company supplies excellent products and first class customer and after sales service to all clientele. The floorings are delivered on time and expertly fitted with the minimum of disruption to customers; this ensures a constant level of repeat business.

Key Strengths:

An established company with high recognition, the business is small enough to give that little extra attention to detail yet big enough to cater for every-ones needs. The shop is located in an affluent high street location and offers customers first-class quality, affordability and responsive advice.

Well established for many years the owner has created a tremendous standing and presence in the surrounding area, anyone seriously looking for a carpet visits this shop, which continues to benefit from sustained growth and success. The business is well respected for its honest and reliable approach, which has created a strong trading base, with many repeat customers and constant new referrals.

Financial Information:

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

The business is financially stable with positive cash flow and enjoys a Strong Order Book.
The current turnover is circa £385,000 per annum, gross profit of circa £155,000 and net profit of circa £43,000.

Years established: 1990

Employees: The business does not use contract fitters instead controlling the quality of the end result by employing its own high quality staff of three fitters with a great deal of experience and ability.

Trading hours: 9.00 – 6.00 Monday to Friday and 10.00 – 4.00 Saturday means there is great scope to increase business with additional opening hours if required.

Property: Leasehold

Location
There is a substantial split level double fronted showroom located on this busy and sought after high street location with stairs leading to a large basement used for storage with a cutting area, kitchen and w/c.

The lease has currently run out after 20 years but is fully renewable and the landlord is prepared to grant a new lease to almost any agreed term.

Expansion potential
This business offers an excellent opportunity for the successful buyer who is seeking a well-established business with the capacity to increase turnover, possibly expanding into other satellite locations and developing new regional markets. This business is based in an affluent and highly desirable location and could certainly achieve increased sales and profits. The business would ideally suit an owner/manager who could build on this Company’s excellent reputation and relationships with both customers and suppliers.

Competition / Market
The business has used very limited advertising in the past and an immense opportunity exists to build on this businesses reputation and implement further and more assertive methods of advertising to expose the business to even greater markets. Every homeowner could be targeted as a prospective customer, various methods could be used in this regard including the local press, leaflets, brochures and direct mail. A large percentage of new clients derive from recommendations, the business regards existing clients as their best advertisers and has maintained an impressive base of satisfied repeat accounts and clientele, while continuing to attract both new referrals and customers. The business does not have a web presence and there is no doubt that turnover and profits could increase using this additional medium. A professionally designed website could allow potential customers to view the extensive range of brand name carpets on offer, and give excellent potential to increase the turnover in the future.

Support & training
The owner will provide a handover period and is happy to provide ongoing support thereafter.

Reasons for selling
Having reached his mid seventies the owner has now reluctantly decided to sell and pass on this lucrative business to younger hands, which means there is substantial scope to build on the existing business model.