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Well Established Beauty & Specialised Food Store For Sale

Hereford, Herefordshire, UK
Asking Price:
£29,999
Sales Revenue:
£41,600
Cash Flow:
Available on request

Business
Please Quote Reference B05819

Hilton Smythe are pleased to have been given the opportunity to manage the sale of Coco.T Hair Extensions & African Foods which is a well-established Beauty and specialised Food store with a renowned reputation amongst residents. This is a superb opportunity to take on a popular and well used local business in an area teeming with customers.

Coco.T was founded by the current owner in 2012 and the business has been a real labour of love for her accruing many regular customers and a burgeoning reputation. The business is now being sold, albeit reluctantly and with a heavy heart only due to the owners wish to pursue other business interests. She is keen to see her beloved beauty, cosmetics and specialist food store pass to an ambitious and entrepreneurial new owner who will take it to the next level.

Coco.T sells and fits an impressive range of hair extensions and human hair wigs and offers free consultations and advice.

The business also stocks a large range of quality hair cosmetics including Blue Magic conditioner Hairs Dress anti-breakage formula, Palmers cocoa butter formula, Pink Plus 2-N-1 scalp soother, hair relaxers, Dark & Lovely, Motions Classic, Berber oil hair treatment etc.

Additionally the business retails a range of African foods from the likes of Nigeria and Ghana and includes beans, pounded yam, semolina, cassava flour, ground rice, dried fish products, farina, yam flour, fufu flakes, chilliest, palm oil, banks, corn dough, palm juice, crayfish, dried bitter leaf etc.

The business has an impressive number of regular customers, many of whom are known on a first name basis by the owner who is a popular and well-respected member of the local community.

Scope to Improve:
Advertising and marketing campaign.
Maximise the use of social media particularly Twitter and Instagram.
Website to extol products and services offered.
Extend the opening hours.
Consider developing an eBay shop.
Sublet the barber shop to the rear of the business.

Reasons to Buy:
A well-established business with an enviable reputation and many existing customers.
Prime trading position in the main shopping area.
Low running costs with inexpensive rent and no business rates.
Little or no competition locally.
Current owner happy to offer a handover to ensure the continued success.
Ideal owner managed or partnership business.

Hilton Smythe highly advise early viewing to avoid disappointment.

Location
Coco.T Hair Extensions & African Food is in Hereford.

Hereford is a cathedral city, civil parish and county town of Herefordshire. It lies on the River Wye approximately 16 miles east of the border with Wales, 24 miles southwest of Worcester and 23 miles northwest of Gloucester. With a population of 60,415 it is by far the largest settlement in Herefordshire.

Coco.T Hair Extensions & African Food is ideally positioned in the main shopping centre of Hereford and sits alongside other complimentary retail businesses and thus benefits from high levels of footfall and passing trade.

The business is nicely presented and maintained with clear visible signage and distinctive livery. There are several inexpensive public car parks within easy walking distance.

Premises
Coco.T Hair Extensions & African Food is well stocked and presented and occupies the ground floor of a period property and briefly comprises:
Shop;

Windows to front and a glazed door to side creating a light, airy and inviting interior, nicely fitted out with wood effect flooring, hair station with mirror, perimeter shelving and hanging rails, bespoke counter with generous wrapping area, leather effect sofa providing a customer waiting area, curtained changing booth, rear shop area with bespoke display shelving, hair Stalin with chair and mirror, back wash with Triton water heater and ceramic bowl.

Barber Shop;

To the rear of the main business is a self-contained barber shop with chair and mirror etc and customer seating area.

WC;

With closed coupled toilet.

Tenure
We are advised that Coco.T Hair Extensions & African Foods is being sold as a leasehold business opportunity.

The existing lease is arranged on a monthly rolling basis currently, but we are advised that the landlord would be happy to negotiate a mutually acceptable lease with a new owner.

The current rent is £5,200 per annum which is reasonable given the size and location of the premises.

We are advised that the business benefits from being exempt from business.

Hours
Monday: Closed

Tuesday to Saturday: 11.00 – 18.00

Sunday: Closed

Staff
The business is run and managed by our client.

Financial Profile
Coco.T Hair Extensions & African Foods generates an advised current turnover of circa £42,000 per annum but it needs to be appreciated that the business is now being run at a pace to suit and has enjoyed higher turnover previously. For further information please reference B05819.

Property Information

Property:

Leasehold

Contact Hilton Smythe

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