Hilton Smythe are delighted to welcome to the market this fabulous bridal store. Originally established in a smaller premises within the town, due to popular demand the business moved to larger premises in 2008 where the business has continued to expand and thrive seeing year on year growth.
Our client is now looking to sell the business due to the desire to retire. According to accounts ending April 2016, the business generates a healthy turnover of around £42,400 per annum, with a gross profit of approximately 67%. This business is thriving in the area, with an excellent reputation for the quality of the merchandise and excellent customer service. The store specialises in bridal wear, bridesmaid dresses, mother of the bride outfits and also accessories.
The business offers high quality gowns for all budgets, they even offer a designer ranges like Carl M and Verise. All ranges of dresses can be found on the fantastic website. The business has in the past offered high end wedding vehicles for hire, however this arm of the business has recently ceased trading. We believe with investment a new owner could easily reinstate this popular service to further revenue.
The turnover could be increased in several ways. The store currently focuses on women's wear, but by introducing menswear suit hire to the store this would increase customers and consequently boosts turnover. The business is currently closed on a Tuesday missing trade and potential customers; by opening on a Tuesday there should be an increase in revenue. We also believe the business would benefit from attending wedding fairs to further promote awareness.
TENUREWe are advised that the business is Leasehold
Current lease will end November 2016.
Rent £7500 per annum
HOURSBusiness opening times-
STAFFThe business is run and managed by 2 partners.
FINANCIAL PROFILEAccording to accounts ending April 2016, the business generates a healthy turnover of around £42,400 per annum, with a gross profit of approximately 67%.
This bridal store is located in County Durham.
The business is situated within a parade of complimentary shops and businesses, therefore benefiting from a high volume of footfall and passing trade.
The area is also well-served by the A-roads, links this area to the national motorway networks. Several major towns are just a short drive from the business which makes this the perfect area for a busy store.
The front of the premises is double fronted with a large clear sign, visible to passing trade. The windows and door is well secured by shutters.
The shop is open plan and is very big inside with clothing racks and rails along the full length of the shop, there is plenty of room for stock. To the back of the shop is the counter with till. Right at the back is a seating area and mirrored wall for viewing, also 2 changing rooms for trying on the beautiful gowns. The room is decorated in a vintage style to match the glamour and glitz of the business.
For staff there is a kitchen, toilet, office and a store room, which is all located at the back of the premises. The back of the building has parking spaces, there is also on street parking at the front of the property.
Equipment included in the sale-
All racks and rails
Display cases for accessories
1 Small flower girl mannequin
Shelving with magazine