Popular Vape Store with Games Room
- Asking Price: £29,999 +SAV
The business will report a turnover as of the 2018 accounts of around £90,000 with an adjusted net profit in the region of £25,000.
Please quote reference B05115
- Tenure: Leasehold
Please quote reference B05115
Hilton Smythe are delighted to present to the market one of London's most renowned Vape stores, established by our clients 4 years ago who due to other business interests have decided to now sell.
The multi-faceted business offers both an extensive choice of vaping liquids, juice, Atties, Starter kits and vaping machines, accessories, linked merchandise, a customer games room with a pool table and TV screen. All intended to create a relaxed environment for customers to discuss the best vaping options for them as well as sit comfortably and vape with other customers without the need to rush off like many similar within the market.
Our clients placed clear emphasis from the start that the business should not only be a good retailer but also very good at building up sound relationships with its customers. They regularly hold evening events to launch new products, offer discounts to customers within the private games lounge which also offers snacks and drinks.
There are over 1,000 customers held on the secure database to be handed over to any new buyer.
Social media provides an important asset to the business with 1,617 followers on its Instagram page, and active Facebook page providing new interest and Twitter page.
Our clients identify that the size of the business would ideally suit a new owner/ manager who would be able to reduce the running cost by £15,000 per year.
The business also comes with a recently refurbished studio flat with bathroom and separate 2nd WC on the first floor which could be either rented out at £1,000 per month (reducing the
business rent down to just £6,000 per year) or make ideal new owners accommodation if required.
The close proximity of this accommodation which can include private parking makes it very desirable.
A full business handover will be offered
The business is run and managed by our 2 clients
Monday to Saturday - 10am - 6.30 pm
Sunday 10.30am - 4.30pm
Fattvapes occupies a highly visible trading position on the corner of Station Rd and Herbert Gardens in Chadwell Heath, Romford in North East London.
The business sits just off the main High Road along a busy parade of community shops leading up towards Chadwell Heath main line station. The area is receiving lots of new and exciting developments, including 1,700 new homes within walking distance of the business due to the recent announcement of the new cross rail station planned at the Chadwell Heath station.
Chadwell Heath is situated on the boundary of the London borough of Barking and Dagenham and the London borough of Redbridge, 2 miles West of Romford and 12 miles Northeast of Charing Cross. It is accessed just off the busy A12 which links Essex to central London,
The business benefits from both a private off street car park as well free parking along Station road
Corner positioned with windows to both sides, to the rear there is a secure car park with CCTV and space for 4 cars.
Retail space - 2 x glass enclosed window display, 3 x wall mounted display units, corner cubed glass display unit, grab arm fairground Coilbrew machine.
A full width service counter includes - till, card machine, counter top display stands, a fantastic bespoke rear display shelving system which also lights up for maximum impact, under counter storage, viewing hatch into the games room.
Door into ‘Games/Chillout Lounge ‘- includes bespoke leather seating, raised stools to L shaped raised bar, central pool table and lighting, 47 inch Samsung wall mounted TV.
Rear office - with 2 desks, pc, printer and storage with rear kitchen facilities
Rear hallway - secure gated access for both the rear car park and the stairs leading up to the first floor accommodation.
First floor - large lounge, separate kitchen, bathroom, separate 2nd toilet.
There is a very good alarm system throughout including a 10 x camera CCTV system
We are advised the business is being sold as a leasehold opportunity with 8 years remaining on a 10 year lease paying just £18,000 per year for the entire building.
Our clients are currently paying business rates of £4,290 as this is a 2nd business however the rateable value is only £7,500 which would mean full exemption for any new single site business owner