Asking price: £69,750

Sales revenue: £200k < 500k

Net profit: < £100k

Fixtures value: Undisclosed

Stock value: £45,000

Business description
Our clients established the business in 2000 and originally operated it from home. They moved to the current premises in 2002. The nature of the business is the supply of printer consumables which include inkjet cartridges, laser cartridges, batteries and charges, stationery and craft, memory cards/sticks and USB drives, photo paper products, etc. There is a well constructed website for internet sales although this side of the business has recently been neglected due to one of our client’s ill health. However, the database of customers remains and there is every opportunity to re-establish sales from this source to previous levels.

Annual accounts for the year ended 31 May 2009 confirm that turnover reached £359,339, exclusive of VAT, and that a gross profit of £140,616 was achieved. The net profit for the year was £55,669 before allowance for items of overhead expenditure which do not form part of the ongoing cost base of the business. Staff wages are currently £17,680 per annum whereas previously the annual cost was £35,094.

Nationwide mail order supplies are currently limited to a phone time of between 12.30 pm and 3.00 pm but this phone time could be considerably lengthened which, coupled with low cost advertising, could substantially increase sales.

Years established: 9

Employees: A husband and wife team (mostly dealing with business management and mail order). One shop assistant for five days per week at a wage of £340 per week.

Trading hours: 9.00 am to 5.30 pm Monday to Friday. 9.30 am to 4.00 pm Saturday.

Property: Leasehold

Lease terms
A 6 year lease from 1 August 2007 with a rent review on 1 August 2010, at a current basic rent of £17,500 per annum.

Location
The business operates from double shop premises in a busy local shopping area to the west of Worthing town centre. Other shops and businesses include a Martins Newsagency/sub Post Office, Lloyds pharmacy, two estate agencies, Chinese restaurant, public house, MOT/service centre, etc. There is a municipal car parking immediately on hand and other kerb side parking in surrounding roads.

Reasons for selling
Ill health.