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City Business Brokers is delighted to welcome to the market this busy and well-respected ‘Destination’ Menswear Shop, which is ideally located within a much sought-after area of Knowle in the West Midlands. The business was originally established in 1960 and has been in our clients’ careful ownership ever since. Only now is the business, reluctantly, being offered to the market due to our client’s wish for a well-earned retirement. The shop operates 6 days per week generating a turnover in the region of £445,000 (excluding VAT) per annum in 2019/2020.
Our client offers an extensive range of quality attire featuring top menswear brands, delivered alongside an impeccable personal service. The business offers one of the most comprehensive collections of men’s suits, jackets, casual wear, shoes, and accessories. A tailoring and alterations service is also available.
The shop boasts approximately 1600 sq feet of retail space and is very well-maintained and fitted out to suit the trade. Our clients have worked tirelessly to maintain and build on the reputation of this very successful and well-respected business, which has resulted in a very loyal client base and a high volume of repeat trade and word of mouth recommendations. The existing team of experienced staff would be an asset to any new owner.
Trading Hours: 6 days Monday to Saturday 9.00am-5.30pm
Staff: 3 Part-time staff plus the owner
Lease: 2 years remain on the current lease
Rent: £26,000 per annum plus £5,000 Service Charge
Rates: £3,400 per annum during Covid (usually circa £7,000 per annum)
Turnover: £445,000 (excluding VAT) per annum (2019/2020) and estimated £425,000 (excluding VAT) to Feb 2022
A valuable and high-quality inventory of fixtures, fittings and equipment is included in the Asking Price.
We feel there is scope to increase the turnover by extending the opening hours, perhaps by offering Sunday trading. A new owner could embark on a marketing campaign to promote the business and goods offered. The boutique already has an informative website in place to advertise the business, which we feel could and should incorporate online ordering facilities. The business would also benefit from taking greater advantage of social networking sites such as Facebook and Twitter to promote the goods.
This is an excellent opportunity for a new owner, perhaps a husband-and-wife team or partnership, to take the already thriving business to the next level; therefore, early discussions with City Business Brokers must come highly recommended to avoid disappointment.
Note: Deferred payment considered
A full profile is available once a non-disclosure agreement has been signed.
All enquiries to City Business Brokers.
All above information is provided by the seller. City Business Brokers makes no representation or warranty as to the accuracy of this information.
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.Note: Library images may have been used for display purposes