Well-Established Bridal Store in Popular Area
Hilton Smythe are delighted to welcome to the market a traditional bridal wear store. Originally established in the 1990’s and taken over by our client in 2012, the business is well known within the area. Our client is now looking to sell the business due to the need to relocate and would like to concentrate on other interests. The current turnover for the business is an advised £76,753 per annum, with a gross profit of 62%. We are advised the turnover is generated from the sale of high quality bridal gowns, bridesmaids dresses, prom dresses and accessories. With bridal dresses supplied from agents such as Romantica, Mark Lesley, Tiffany and also Twilight Designs for prom dresses. The quality of products and service provided at the store is fantastic and this has increased the word of mouth reputation over the years. The store caters for all budgets with dresses from as little as £150 to £1,400 aiming their products to suit all budgets. There are several ways in which the turnover could be increased, some points are as follows- Extend opening hours, by opening Monday, Thursday or/and Sunday. Offer in house alterationsStart an advertising and marketing campaign, as we are advised very little has been done recently.Attend wedding fairs, to promote business.Consider offering a hire service.Expand product range The business has currently been run at a steady pace, due to our client living in Somerset. Our client also cares for a family member and so the distance has just not allowed our client to run the store to its full potential. Already very profitable, but with so much potential to boost revenue and attract more custom. The business comes with a fantastic website, this shows a selected amount of gowns the store has for sale. It is highly advised customers visit the store, with a google maps link on the website to make it easier for customers. The existing staff members will be willing to carry on working at the store for the new owner, if required. This is a fantastic opportunity for a new owner who is looking to start up. This would also benefit as a bolt-on.
We are advised the turnover for the business is around £76,753 per annumWith a gross profit of 62%
The business is run and managed by our client with the help of 3 part time members of staff.
Business opening times- Monday: ClosedTuesday, Wednesday, Friday, Saturday: 10am-5pmThursday: By appointment onlySunday: Closed
This beautiful bridal store is located in Worcestershire. On the very busy main road, where there is always a mass of heavy footfall. Close by is a large range of complimentary retail stores which benefits the business. Just 2 minutes from the property is a big shopping centre this is a main attraction in the area, and It attracts customers from other towns and benefits all smaller stores around the town. This store benefits from the large shopping centres public carpark. The road connections in the area are fantastic and with a motorway not too far from the property it allows the area to receive a huge amount of trade. Due to the location the business benefits from a very generous public transport system, with a bus stop just a short walk away. With a train station also just a 10 minute walk away. The architecture in the town is well known, and attracts a lot of tourist’s attention. There are several Tudor building located in the city, all other buildings blend in with the historic feel of the area.
Situated in a three storey period building amongst complimentary businesses in an upmarket part of Worcestershire. The business is immaculately presented with attractive signage. Main shopLarge windows to front creating a light airy interior, immaculately presented, feature coving to ceiling and carpeted floor with neutral décor. Equipment-Hanging rails for dress display Freestanding glass display unit Dresser unit with twin drawers and chair Generous sized changing room Prom RoomTiled floor, windows to front, immaculately presented. Equipment-Hanging railsFeature spotlightsTwo changing roomsMirrored wallFreestanding glass display unit KitchenWith stainless steel sink and drainer with water heater and cupboards beneath, window to rear, worktop and space for fridge Dressing RoomWindow to front, changing room is carpeted with customer seating. There is also another freestanding glass display unit. Further first floor rooms include-Useful storage cupboard, WC Second floor –OfficeA good sized room with windows to the front, carpeted. Equipment-L-shaped deskHanging rails Store room-Generous storage room with windows to front, hanging rails and free standing shelving unit, ample floor space for additional storage.
We are advised that the business is LeaseholdOriginal lease length 6 yearsRemaining length of lease 3 yearsReview period 3 yearsRent £7,500 per annum