Asking price: £45,000

Sales revenue: £195,000

Net profit: Undisclosed

Fixtures value: Undisclosed

Stock value: Undisclosed

Business description
Historical Jewellers & Watch Repairers

Superb High Street Location

This truly independent and historical business has been dealing in jewellery since the 1700’s and in that time has built up a wonderful reputation in th North West. A true family busines the current vendor has been in sole control for almost 20 years.

The business retails a fine range of jewellrey and watches as well as providing high class watch repairs to its customers. It also deals in second hand jewellery but this is only a small part of the business.

Over time the business has built up a superb reputation in the market it serves and in the main tends to supply British design classics.

The business is ideally positioned in the main pedestrianised shopping centre of the town and enjoys impressive levels of footfall such is its location and standing in the region.

Repairs are outsourced to high quality trained restoration businesses who the compamny has used for many many years.

Customer Service:

With a vast amount of experience the vendor and her loyal team are passionate about looking after their loyal and growing customer base. This high level of customer service has led to the business being the jeweller of choice stocking a wide range of quality jewellery.

Key Strengths:

A truly historical and established name in the industry this exceptional store is well known and has a formidable reputation. This business is built on solid foundations. With a new injection of energy significant growth in profitability is inevitable. This is illustrated further by the fact that the business has never had the need to advertise since it was set up several hundred years ago.

The quality of the high street location cannot be overstated since its prominence guarantees access, visibility and footfall. The showroom plays no less a part in meeting customer expectation as it is highly traditional and welcoming with large and inviting window displays and original internal display cabinets.

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 currently achieves turnover circa £195,000 per annum with an impressive gross profit margin of 50%.

Employees: The owner works full time within the business and is ably assisted by one full time sales assistant and one part time sales assistant (one day a week). There is also a further casual member of staff who can be called upon as and when required. A family member also assists with regard to stock and accounts. It has to be said that the staff are extremely friendly and a real asset of the business.

Trading hours: Monday, Tuesday, Thursday, Friday: 0915-1600 Saturday: 0900-1700 Wednesday & Sunday: Closed

Property: Leasehold

Lease terms
The premises are leasehold. The current lease is for a further 5 years.Current rent is circa £15,600 p.a. Rates are circa £6,000 p.a.

Location
The business operates from the perfect retail location in the town. The street is pedestrianised and enjoys very high levels of footfall. The premises are leasehold. The current lease is for a further 5 years.. The premises comprise double fronted windows with central doorway. Ground floor retail and display area with small workshop and office area. There is also a first floor storeroom and toilet. The premises have 4 large safes that are included within the sale. Ground floor space circa 500 square feet. Current rent is circa £15,600 p.a. Rates are circa £6,000 p.a.

Expansion potential
The company has a core client base of regular customers that has been established over many years. These span generations. In saying that the business would welcome some fresh ideas and business acumen, not least a strategic sales and marketing plan to take advantage of its place within the market.

Competition / Market
The business has never felt the need to advertise such is its historical reputation. The business has built up a superb reputation by word of mouth recommendation and enjoys a high level of repeat business, which is maintained by a strong client rapport, valuing the customers and striving for the best in client service and client retention.

Support & training
The current owners would be happy to provide full training and support at handover and stay on within the business for an agreed period of time should a new owner require, subject to negotiation.

Reasons for selling
This is a genuine retirement sale