Asking price: £50,000

Sales revenue: £80,000

Net profit: £13,000

Fixtures value: Undisclosed

Stock value: Undisclosed

Business description
Business Overview:
Outstanding opportunity to acquire a growing IT support, repair and retail sales business

Established in 2007, the owners have built a sound business based on several revenue streams which continues to grow month by month.

IT support and repair services account for approx. 60% of the sales revenue which provides a regular revenue stream. Retail sales account for 30% and instore internet access 10%.

The retail premises is located in a prominent position on a busy high street in North London

With an excellent location and established reputation, the business offers the buyer a great opportunity to grow sales and increase profitability significantly through further marketing and development of the IT support service for local businesses and home users.

Reason for sale:
The owners wish to move abroad

Employees:
2 owners 3 days/week each
1 in-store assistant 3 days/week
5 freelance IT technicians

Opening hours:
10am to 6pm Monday to Friday, 10am to 5pm Saturday
Opportunity to extend opening hours

Premises:
Leasehold - 15 year renewable lease commenced in April 2007
Rent is £12,000 per annum. Rates in 2008 were £2,544.
Next rent review will be in April 2012
Total area of the premises is 360 sq. ft

IT support services and retail products
Onsite repairs for home and businesses
Fixed price laptop and PC repairs
Home wireless network setup
Business support and system installation
Computer upgrades
Computer and accessory sales

Financial overview
To allow comparison the figures for August 2009 are scaled to represent one year’s trading:

Sales revenue: £80,160
Gross profit: £44,928 (56%)
Net Profit (before tax and directors' takings) £12,848 (16%)

The stock is fluctuates from £3k to £8k. As of August 2009 stock is £3.5k

Offers invited

Trading hours: 10am to 6pm Monday to Friday, 10am to 5pm Saturday Opportunity to extend opening hours

Property: Leasehold

Lease terms
Leasehold - 15 year renewable lease commenced in April 2007 Rent is £12,000 per annum. Rates in 2008 were £2,544. Next rent review will be in April 2012 Total area of the premises is 360 sq. ft

Location
Prime high street location

Expansion potential
There is great potential to increase sales and profitability significantly through for example: 1. Development of the contracted IT support services for local businesses which will bring in regular monthly income. 2. Development of a network of retail outlets and local IT support provision across London through franchising of the business. 3. Extending the opening hours should the buyer wish to develop the internet cafe side of the business

Reasons for selling
Owners wish to move abroad

Financing available
Hornblower Business Brokers has established links with banks and financial consultants. Should you wish to obtain finance for the acquisition of this business please contact us on +44 (0) 20 8090 9380

Related documents

		H09091 Business Summary

		Confidentiality Agreement