Total of 18656 firms and businesses for sale today Sunday 28th April 2024
Sold. Desirable Silver Jewellery Brand & Import/wholesale Business
LISTING DETAILS
Firms For Sale ID:
34241
Vendor reference:
IN011
Vendor website:
BUSINESS DETAILS
Location:
Primary sector:
Asking price:
£395,000
Turnover / revenue:
£1,200,000
Net profit / cashflow:
£180,000
Years established:
10
Number of employees:
7
Employees / staffing:
The vendors work full time in the business, however they spend several months away from the business each year on buying trips etc. One director is responsible for finance and administration whilst the other focuses on product selection.
The company employs some 7 staff members (5 full-time) and these include sales supervisors, administrators, packers and jewellery cleaners.
The business also has a network of 6 self-employed experienced sales agents throughout the UK.
Staff are skilled, loyal and trustworthy and can multi-task when necessary. Most have been with the business many years.
OTHER DETAILS
Reason for selling:
The vendors are planning their exit with retirement pending. They also believe the business now needs a new injection of energy and business acumen to maximise the many, many opportunities it has available.
Support and training:
The current owners will provide all necessary training and handover to ensure a smooth transfer of the business to the new owner.
Business is relocatable:
Yes
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
BUSINESS DESCRIPTION
Desirable Silver Jewellery Brand & Import/Wholesale Business
Ref.IN011
Location Cheshire
Asking Price GBP 395,000
This well established and highly regarded business was set up some 20 years ago as a jewellery import and wholesale business. During that time it has developed its own brand and style of silver jewellery that is instantly recognisable to its loyal and growing customer base, predominantly based within the UK.
The business has built up a sterling reputation based on its consistent supply of very high quality assured handcrafted niche silver pieces. The product portfolio has developed over time and the business has some 1,100 current lines on offer including rings, wrist wear, pendants, neckwear, earrings, cufflinks and brooches. In addition to the sterling silver the business has more recently introduced a two tone range of copper and silver pieces these have been selling well for the last 3 years.
Pieces are carefully sourced from a now well established supply base (the business has very close relationships with some 25 designers /manufacturers mainly within South America) whom the owners will visit once or twice a year to ensure the business is up to date with new designs etc. Upon arrival in the UK, products are quality checked by the company and then certified by the companys external quality control specialist to ensure authenticity and correct grade of material.
The business has been meticulous in its approach to quality control and design over the years, which has helped to build the brand. Due to this the brand is held in high esteem and is very much the brand of choice for many trade clients and their retail customers when looking to purchase handmade silver jewellery.
The company has developed an impressive route to market and currently services some 710+ independent retailers, mainly via its own network of 6 self employed sales agents.
Market / Competition / Non-Competition Agreements
The business historically exhibits at the 2 major UK trade shows each year (including International Jewellery Show in London and the Spring Fair) and also has glossy brochure packs for use by its agents and their retail partners/customers. The vendors have spent considerable time and money over the last few years designing and producing their own unique point of sale material encompassing stands, wrapping, boxes and packaging which has also enhanced the brand value and its position in the market..
Because of the strength of the brand and the loyal following it has the business benefits greatly from referrals, recommendations and repeat business. It does now have its own informative website which would benefit from ongoing online marketing and SEO techniques. It also has a more recent presence on social media.