Fantastic Menswear Retail Business

Description

Hilton Smythe are pleased to have been given the opportunity to manage the sale of this designer Menswear business which is recently established, with a renowned reputation amongst local residents.

This is a superb opportunity to take on a fantastic local business with bags of potential in an area teeming with customers.

This Designer Menswear business was founded by the current owner in 2018 when he identified a gap in the market following his 30 years plus working in the clothing industry.

The business has been a real labour of love for him and it is now being sold, albeit reluctantly and with a heavy heart only because of poor health. He is keen to see his beloved business passed to an ambitious and entrepreneurial new owner who can take it to the next level.

The business is a well presented and well stocked retail store selling an impressive range of branded Menswear. The business currently stocks 12 well known and highly coveted designer labels.

Scope to Improve

• Advertising and marketing campaign
• Maximise the use of social media particularly Facebook, Twitter and Instagram
• Website ideally with an e commerce facility
• Introduce new designers
• Explore online voucher discounters such as Groupon and Wowcher
• Introduce a customer loyalty card/ scheme
• Offer a garment alteration service

Reasons to Buy

• Perfect trading position
• Low running costs with inexpensive rent and no business rates
• Current happy to offer a handover and mentoring to ensure the continued success
• All fixtures and fittings included making this a real Turnkey business opportunity
• Ideal owner managed or partnership business
• A real opportunity to increase turnover significantly, current owner has been running at a pace to suit
• Priced to facilitate a quick sale.

Hilton Smythe highly advise early viewing to avoid disappointment, this great little business is likely to attract considerable interest.

Tenure

Leasehold

The business is being sold as a Leasehold business opportunity.

The existing Lease has approximately 3 years remaining, and the rent is £12,000 per annum which is really reasonable given the size and location of the premises.

We are advised that the business benefits from being exempt from business rates.

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Hours

Monday to Saturday 10.00 am – 6.00 pm
Sunday 11.00 am – 4.00 pm

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Staff

The business is run and managed by our client with the help of a part time member of staff.

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Financial Profile

The business has been trading for 3 months and turnover is increasing week on week as it becomes more established.

At the time of booking weekly takings were averaging £1600 but increasing at an impressive rate.