Asking price: £87,500

Sales revenue: £523,000

Net profit: £60,000

Fixtures value: Undisclosed

Stock value: Undisclosed

Business description
HIGHLIGHTS:
• Highly profitable design/supply of domestic kitchens – Mid Devon
• Leasehold, fully fitted, town centre display showroom
• Long established name with excellent reputation
• Suitable either for sales professional or installation trades
• Finance available (subject to status)

BUSINESS:
This long established and significantly profitable business designs, supplies and then coordinates the installation of high quality domestic kitchens throughout the South and South West of England from its base in leasehold premises in Mid Devon, close to the M5.

All contracts are made to order. The consultancy aspect guides clients through the myriad of styles, designs and finishes, prepares professional plans and elevation drawings to aid visualisation of the scheme and then works with an experienced and valued team of self-employed kitchen fitters, registered electricians and plumbers, builders, decorators and, where necessary, architects to co-ordinate installation to the very highest standards.

The showrooms are conveniently located and served by parking facilities and have been fitted out with a significant number of high quality display kitchens as well as being able to hold a very wide range of samples of wall and floor tiles and cupboard doors. They are also able to supply all major brands of kitchen appliances and have become known as the key local supplier of the Emma Bridgewater pottery and tin ware ranges.

TENURE:
Leasehold

YEARS ESTABLISHED:
The business was established by the present owner in 1989.

EMPLOYEES:
The business uses self-employed fitters and trades and has one full-time and one part-time (12 hours pw) member of staff. The vendor works full time in the business and handles all sales and quotations.

TRADING HOURS:
Monday to Friday: 9.30am to 5.30pm
Saturday: 9.30am to 4.30pm
Sunday: Closed

SALES REVENUE:
Sales in the year ended 31/5/08 stood at £523,544.

NET PROFIT:
The business generated an abridged net profit of c £60,000 in the year ended 31/5/08.

LEASE TERMS:
The premises are held under a 21 year renewable lease from 1990. Rent currently stands at £8,800 per annum. There is a shared (1/6th) responsibility for external maintenance of the building, which comprises 2 shops with 4 flats above.

LOCAL AUTHORITY:
Mid Devon District Council.

RATES PAYABLE:
The premises have a rateable value of £5,500. Business Rates of £1,455.17 are payable in 2009/10.

SERVICES:
The vendor advises that mains electricity, water and sewerage services are connected to the property.

OPPORTUNITIES:
The business would be eminently suitable for acquisition by a sales professional or a firm also involved in the construction and fitting side of the activities.

REASON FOR SALE:
The vendor now wishes to reduce working hours in anticipation of eventual retirement but would be prepared to continue to work on a part-time basis for the new owner if required.

DESCRIPTION OF PREMISES:
The business occupies a ground floor showroom with additional valuable lower ground floor space forming part of a larger terraced property of brick construction comprising two shops with 4 flats above all under a pitched and tiled roof.

Open Plan Showroom:

This comprises an Entrance Hall (1.7m x 1.3m) opening into the Main Showroom (7.8m x 3.5m) comprehensively fitted with a significant number of kitchen displays each incorporating wall and floor units around sinks set into roll-edged work surfaces with fully tiled splashbacks and ambient lighting all ensuring a high quality presentation.


Office (2.3m x 1.6m)
Lower Ground Floor Showroom/Office (7.4m x 3.4m at widest point, narrowing to 2.6m approx)

VIEWING:
All viewings to be arranged through Adams & Co, sole agent, on 01752 493002

FINANCE:
Finance is available (subject to status) through Agora Commercial Finance, independent commercial finance brokers, on 01752 405032

FULL PARTICULARS:
Please telephone or email for full particulars

GUIDE PRICE:
The vendor invites offers against an asking price of £87,500 for the lease, business goodwill, fixtures and fittings plus stock at valuation.
A van is available for purchase by separate negotiation.

VALUE OF STOCK:
The majority of the display items and tile samples in the showroom have been provided free by the manufacturers. The vendor estimates that other stock (principally Emma Bridgewater pottery and the new tin wares) have a value in the region of £1,000.

COMMENTS:
The demise of the MFI business in late 2008 has brought about a significant reduction in competition in this market.

Property: Leasehold