Pawnbrokers and Cheque Cashing Business Worcester Sold

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  £35,000 - Non Retail

Pawnbrokers /Worcester

This is now a very well established concern which enjoys all the considerable commercial advantages of a fantastic trading position area of Worcester , . Operating from  a reasonable premises, the business currently offers three sources of income .

Goods purchased and sold

Goods pawned and either redeemed or sold if not redeemed

Cheques cashed

There is scope for continued growth ie trading in MP 3,s  Sat Navs , Computers, Mobiles and Sound Systems , the current owners are post retirement age and have tended because of thier limitations concentrated on Bikes ,Electric Tools and musical instruments .

The business currently opens only 3 days a week  and yet results in a £90000 + turnover pa and £40000 profit!  Cash !   the possible introduction of 3 or 4 extra trading days could potentially further increase turnover by up to 50%  The business would also benefit greatly by adopting a far more vigorous marketing policy of its excellent existing facilities and services, particularly with reference to the introduction of on-line advertising and ordering in order to improve upon the already high levels of turnover and profitability it has achieved since being established in its present form some twenty five years ago by the current owners and we would strongly recommend the earliest possible viewing to avoid disappointment.

Financial Information Current turnover in the region of £90,000 per annum with huge scope to increase and a net profit of £40500 turnover is mainly cash

Lease The premises are being offered with the benefit of a long secure  year lease with approximately 6 years of the current term remaining and regular  reviews .Alternatively a new lease may be negotiated

Rent The current rent stands at approximately £8800 per annum.

Business Rates We are advised that the Business Rates are £1000per annum.

Trading Hours 3 days – variable

Property Description Fitted and presented to  trade specifications throughout, these  maintained leasehold premises provide excellent and highly functional internal business accommodation which to the ground floor consists of a glazed single fronted public entrance directly off the main street into a large square retail area with a store room to rear

Fixtures & Fittings The business is well fitted throughout and a valuable inventory of equipment is to be included in the sale price circa £45000 and a current loan book

It is important to note there is a local council grant scheme already available for a shop front improvement up to £2000

EPC rated D -91

Viewing Arrangements All arrangements to view are strictly by an appointment through the offices of City Business Brokers  and no approaches whatsoever should be made to the owner or the business. For an appointment to view, please ring Kevin Stokes


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