Status: Completed
Tenure: Leasehold
Leasehold Rent: £230 per week
Turnover: £277,694
Aquarium in WakefieldAquarium in WakefieldAquarium in Wakefield
£49,950 + SAV

Aquarium in Wakefield

Completed
  • Reference: 1201
  • Location: Wakefield, West Yorkshire
Hilton Smythe welcomes to the market Interfish, this is a fantastic opportunity to purchase this rare tropical marine and reef supplier business.

Interfish was originally founded by our client 10 years ago, and has an excellent reputation with a large UK customer base and regular repeat business. There is very little serous competition in Yorkshire and people travel from all over the north because of the businesses reputation.

This sustainable business has built up its good name by also advising customers. The member of staff is an expert on both technical equipment and the care of fish and corals. Furthermore, our Client is often asked to install tanks in customer's homes something they have not pursued but could be an additional way of increasing income. Due to the obvious dedication of the current owner the business has won the Best Marine Shop award for 3 years running.

The business specialises in coral reef fish and corals, stocking a wide selection of fish species and has an extensive range of tanks including invert, floor, wall mounted, table top and small desk tanks. Interfish also sells a range of ancillary aquatic equipment included foods and additives and purified salt water.

We feel this lucrative business does have the scope to expand further possibly by introducing sales of fresh water fish and reptiles. Furthermore, there is additional space available on the first floor by separate negotiation with the landlord.

We are advised that there is the potential to introduce mail order to encompass the whole country as many shops do which could significantly increase sales. This is normally done by paid sponsorship on dedicated reef internet forums and magazines

The business could appeal to an hobbyist in this market sector or as a bolt on acquisition to a similar business. The business is reluctantly offered for sale as our client looks towards retirement and a quick sale is required and all serious offers will be considered.

TENURE

We are advised the premises are Leasehold.

The original lease length was seven years, extended for a further three years which expires April 2013. A new lease is to be negotiated. Rent is currently £230 per week.

HOURS

The business have been run to suit our clients life style and currently opens:

Monday 10.00am - 6.00pm
Tuesday - Closed
Wednesday- Friday 10.00am - 6.00pm
Saturday 10.00am - 5.30pm
Sunday 11.00am - 4.00pm

There is the obvious scope to expand opening hours.

STAFF

The business is owner run and managed with the assistance of 1 full time member of staff.

FINANCIAL PROFILE

The business is highly profitable even through the recession and having to compete with internet/ebay sales and reports an annual turnover of just under £280,000 with reported gross profit of around £110,000 per annum.
The business is located in the market town of Ossett in Wakefield, West Yorkshire. Ossett is located just off junction 40 of the M1 motorway, half way between Dewsbury and the city of Wakefield.

The business is a stone built two storey former chapel, fronting onto the busy Dewsbury Road in this densely populated residential area and only a few minutes drive from major motorway networks.
The business briefly comprises:-

Ground floor spacious purpose fitted sales and display showroom, approximately 1500 sq ft, including trade counter with electric till, behind which is an office with desk and computer. Part walled shelved mono perimeter with centre display gondola.

Rear sales area displaying tanks, large filtration room, separate sales area displaying 22 coral reef fish tanks as well as 8 large coral rock display tanks. Rear toilet facilities.

We would also like to reiterate that there is first floor space available approximately 1500 sq ft which could be utilised for expansion by seperate negotiation with the landlord.