Sold
Beautifully Presented Bridal Shop
Witney, Oxfordshire
- Asking Price: £99,950 +SAV
- Turnover: The accounts show a very healthy turnover of £262,994 for the year to 30th November 2016 with a gross profit of £93,682 and a very healthy adjusted net profit of around £50,000. According to the VOA website the current rateable value is £11,500 with rates payable of only £56 per calendar month.
- Tenure: Leasehold
Hilton Smythe welcomes to the market this very well-established, family run bridal shop offering a very prominent position in this this popular market town, together with easy access and plenty of parking. It is a busy and extremely well-known business offering a great service, having many long term and loyal customers and a very spacious well-planned showroom. Their reputation has been built around success; since they opened in 2004 they have been finalists in the Bridal Buyer Awards in 2008, 2009 and 2011. They pride themselves on developing positive relationships and giving a personal service by listening to and understanding the desires of each bride and her party. They are dedicated to ensuring that every bride's dreams come true. They supply designer wedding dresses from 7 designers such as Justin Alexander, Randy Fenoli, Maggie Sottero, Sincerity and Kenneth Winston. They also stock bridesmaid’s dresses including those from designers Eliza and Ethan and accessories, while also providing a profitable groom hire service. The shop currently has 170 forward bookings so there is an exciting amount of business going forward. Please see their website which can be found at http://www.proposalsbridalstudio.co.uk/ which is going to be replaced by an even better site, which goes live in March 2018.This is a fantastic business with a good turnover and gross profits, which would ideally suit an enthusiastic owner who could push the business forward to the next level. The business itself is very well established and thriving. It has been run by the current owner for the last 13 years, who are now looking towards other business interests/early retirement.
The business is currently run by the owners and 2 other members of staff, one-part time and one full. They also have contract fitters.
The business currently opens:- Monday to Friday 10:00 am to 5.00 pmSaturday 9:30 am to 5.00 pmSunday Closed
Proposals Bridal Studio is situated in Witney, a very popular and thriving market town with much charm and character, offering a very visible and accessible location with easy on street free parking. Witney is a town on the River Windrush, 12 miles west of Oxford in Oxfordshire, England. The population according to the 2011 census is 27,520. Oxford itself is a very well know and famous for its University and Accademia. The whole area is very popular with locals and tourist alike and offers good access to all surrounding areas via the A40 and M40.
The premises occupy a great position, offering plenty of space which is light and area and has a very welcoming feel. The total space is approximately 118 sqm (1270 square feet) and includes 3 spacious sales/changing/display areas with large mirrors, a large store room, separate kitchen, disabled WC and 4 changing rooms, so has everything you would need. The shop has a very charming feel and is decorated and displayed to give the perfect atmosphere and includes 8 comfortable chairs, 4 display units, 4 tables and an attractive wooden floor throughout which adds the perfect balance. It really is a prime store in a great location. An internal inspection is very highly recommended to appreciate the position and thriving business on offer.
Tenure
We are advised that the business is being sold as a leasehold opportunity with a 5-year term. The yearly rental is £12,000 per annum.
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