Total of 18656 firms and businesses for sale today Saturday 27th April 2024
Sold. Freehold Hardware Store- Retailers Of Hardware, Ironmongery & Diy Goods
LISTING DETAILS
Firms For Sale ID:
33234
Vendor reference:
AI034
Vendor website:
BUSINESS DETAILS
Location:
Primary sector:
Asking price:
£449,000
Turnover / revenue:
£200,000
Net profit / cashflow:
Undisclosed
Years established:
100
Trading hours:
Monday-Saturday : 08:30-17:00
Closed Sunday
Number of employees:
7
Employees / staffing:
The owner works on the business on a part time basis. He tends to visit maybe once a week and tends to work on other aspects of the business a couple of days per week remotely.
The business employs 3 full time staff, each with individual responsibilities as well as 4 part time staff. Of the 3 full time staff one is senior and is responsible for banking and key holding.
All staff are a real asset of this business.
OTHER DETAILS
Reason for selling:
Retirement.
Support and training:
The owner believes that the staff will be very willing to stay and be part of the business with the purchaser. Given the existing levels of accountability and experience the handover process will be straightforward. The exact period will be agreed as part of the overall sales negotiations.
Business is relocatable:
No
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
BUSINESS DESCRIPTION
Freehold Hardware Store Retailers of Hardware, Ironmongery & DIY Goods
Large Freehold Premises
Ref.AI034
Location Lancashire
Asking Price GBP 449,000
This wonderful family business was established over one hundred years ago and has successfully traded in the town throughout that period.It has been trading from its current high street location for the last 35 years and is now a highly respected and integral part of the local community with a customer base that encompasses several generations of many local families and businesses. Without question it is one of the largest and leading privately owned hardware stores in the region.
It would be easier to list what it doesnt sell rather than try to list the extensive range of household goods, ironmongery and DIY equipment. Suffice to say it stocks everything from the smallest screw right through to electrical and white goods and garden equipment. The company has thousands of product lines and if it does not carry the item, it almost certainly can order it for you from an extensive supply chain.
Approximately 70% of business is retail with the remaining 30% being made up of commercial/trade business.
The business is located in the town centre with ample parking. The premises are large and freehold. The ground floor shop comprises circa 3,600 square feet of prime retail space with approximately an additional 4,550 square feet of space on the first floor. The first floor is currently used as storage for stock as well as having office space.
In addition to this the business benefits from leasing a proportion of the building to an adjoining ground floor retailer (circa 900 square feet). There is a commercial 15 year
lease in place with circa 7 years remaining. This generates rental revenues of circa GBP16,500 p.a. to the owner.
The business has established an extensive customer base of loyal customers and is very efficiently run.
Expansion Potential
There is a good opportunity to grow this business. The operation currently utilises just the ground floor as prime retail space. It could easily reorganise the first floor to accommodate more display areas and modernise certain areas.
The business does no advertising or marketing. It has no online presence or website and does not do any mailshots to existing customers. There is huge scope to increase this activity which should result in increased revenues.