For Sale
Well Established Bespoke Furniture Business For Sale
Isle of Man,
- Asking Price: £65,000
-
Turnover:
We are advised the business has a projected turnover of circa £350,000 as of 2021, further financial information can be made available upon request.
Please quote reference B06669
- Tenure: Leasehold
Please quote reference B06669
Hilton Smythe is delighted to present to the market a highly regarded and well-established supplier of bespoke, modern and contemporary furniture and accessories business based on the Isle of Man.
Home Kandi was founded by the current owner four years ago and has been a real labour of love for him accruing many happy customers and a burgeoning reputation.
The business is now being sold, albeit reluctantly and with a heavy heart only due to our clients wish to relocate to sunnier climes to concentrate on his other business interests, he is keen for his beloved design company to pass to an ambitious and entrepreneurial new owner with the same vision who can take this already thriving business to the next level.
Home Kandi’s aim has always been to offer an innovative concept blending retail with online. The business offers a unique and bespoke concept in design and interior lifestyle products and services whilst having a visionary and unparalleled customer focused approach to providing the highest quality products at competitive prices.
The business supplies furniture for living area, bedrooms, dining rooms, kitchens and bathrooms.
Additionally the business supplies:
- Beds
- Sofa Beds
- Hot Tubs
- Fires bespoke and made to measure
- Feature walls
- Aquariums including bespoke built-in fish tanks
- Signature Collection…a range of diverse luxury products.
Customers can view products and room sets in the showroom and get a feel of what the company’s products look and feel like in person.
The sale also includes the company e-commerce website (homekandi.co.uk) which is a far-reaching window of over 10,000 products with the ability for customers to order and pay online and which also allows the customer to build their own personal wish list. The business enjoys great visibility on the internet.
A new owner will benefit from the existing business relationships that are in place with suppliers and contractors and a database of previous customers. The business has substantial and ambitious growth plans to expand the Home Kandi brand and presence into the UK market with sites already earmarked including a 6000 Sq. Ft. Unit in Leeds.
Reasons to Buy
- A well established business with an enviable reputation and many existing customers
- Established business relationships
- Current owner happy to offer a handover to ensure the continued success
- Offers potential tax advantages to a UK business investing in the Isle of Man
- Ideal bolt on business
- Offers real potential to increase turnover and profits significantly, current owner been running at a pace to suit.
The business is owner run and managed.
The business trading hours are as followed:
Monday to Sunday - 09:00am - 17:00pm
Home Kandi is located at Tynwald Mills on the Isle of Man.
Tynwald Mills was established over 30 years ago and provides the best shopping experience for its customers. With over 200 free onsite parking spaces and play areas for kids there is plenty of room for everyone to enjoy a day out at Tynwald.
The business is located in the shopping and sits alongside other complimentary retail businesses and thus benefits from high levels of footfall (15,000 per day) and passing trade. The business is beautifully presented and maintained with clear visible signage and a pleasing upmarket feel.
Home Kandi occupies generous premises ideally suited to the trade and including a bright and contemporary showroom and offices.
Tenure
We are advied the business is being sold on a Leasehold basis with 3 years remaining on the Lease, the rent is £12,000 per annum.
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Hilton Smythe have their very own independent commercial finance broker Hilton Smythe Finance who can help with raising the money to buy your new business.
Representative Example
Borrowing £7,500 over 4 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £246.43 per month, with a total cost of credit of £4,328.83 and a total amount payable of £11,828.83
Rates may differ as they are dependent on individual circumstances. Subject to status.
