Sold

Long-Established Bridal Store Sutton-In-Ashfield

Sutton in Ashfield, Nottinghamshire

£50,000

Ref: 13644 F

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Description

PRICE INCLUDES STOCK Hilton Smythe welcomes to the market Lillies Bridal Boutique. The business was originally established in 1993 and moved to its current location in 2006. Our client then took over the bridal store in 2013 and is now looking to sell, due to the desire to focus on other interests. This is a family run business with an exceptional reputation. The business runs as a bridal store selling a great selection of designer bridal gowns. The store stocks Alfred Angelo, Ladybird Bridal and Sophia Tolli gowns and accessories. The boutique specialises in the sale of bridal gowns, shoes, accessories, bridesmaid gowns, flower girl dresses and male suits. The business did offer male suit hire, this could be a service that the purchaser looks to re-introduce. This successful business have been recognised as finalists in 2015 and 2017 in the I Do Magazine and 2016 finalists in the Wedding Industry Awards. Our clients offer an all-inclusive service, each dress price includes standard alterations, steaming, dress bag and luxury hanger. Lillies Bridal Boutique has been trading for over 25 years and staff have full knowledge and experience in the trade. Consultations are available upon booking. The boutique generated a turnover in the region of £89,000 as of the 2016 accounts. This is a healthy turnover, however we feel there is scope to massively increase this figure. Lillies Bridal Boutique offer an excellent range of products. Introducing new product lines such as prom dresses could be a great arm to the store. This could be advertised on the business website (www.lilliesbridal.co.uk). The site is filled with information and is included in the sale. The purchaser should also look to take full advantage of social media sites. The business already has a great following on its Facebook page of over 1,900 followers. Social media sites are a great cost effective way of marketing a business. Other options to consider are alterations for gowns bought else were, an eBay shop for clearance stock, feature at more wedding fairs and by extending opening hours. This is a fantastic opportunity that would be a perfect purchase for a first-time buyer or bolt-on business. The boutique has an exceptional following and an enviable reputation in this location. The store is a generous size and was fully refurbished in 2014. All equipment is included in the sale. Hilton Smythe highly advise early viewing to take in the full potential of the trade.

Tenure

Leasehold

We are advised the business is being sold as a Leasehold opportunity. New lease to be negotiated. Rent around £10,000 per annum. The business currently is exempt from paying business rates.

Hours

The business opening hours: - Monday: 10am – 4pmTuesday: 10am – 4pmWednesday: ClosedThursday: 10am – 4pmFriday: 10am – 4pmSaturday: 10am – 5pmSunday: Closed

Staff

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

Financial Profile

The business generated a turnover in the region of £89,000 as of the 2016 accounts.

Location

Lillies Bridal Boutique is located in Sutton-In-Ashfield, Nottinghamshire. The business is situated at the beginning of a busy shopping street. The store is set alongside many complimentary businesses most of which are independent traders, allowing for a vibrant shopping experience. There is on street parking outside the premises and the business also has a private parking area to the rear. Sutton in Ashfield is a large town with a population of circa 45,848 as of the 2011 census. The town is situated just 4 miles from Mansfield and two miles from Derbyshire. This is a bustling town with a varied range of retail outlets, the town also boasts a weekly open aired market on Tuesdays, Fridays and Saturdays. The road on which the boutique is located is an arterial road that runs through the town. The road allows for a generous amount of daily footfall and passing trade. The town boasts great road connections and generous public transport. There are bus stops a short walk away and the closest train station is approximately 2 miles away. The M1 motorway network is a few minutes’ drive away and the town is also surrounded by main A-roads.

Premises

Lillies Bridal Boutique boasts a very generous sized shop. The store is beautifully presented and has been well-maintained. The premise has electric security shutters to the front, glass door and large windows across the front creating a light, airy and inviting interior. There is signage across the front for Lillies Bridal Boutique and The Grooms Room. This was from when the business offered male suit hire. The bridal store briefly comprises: - GROUND FLOOR Retail SpaceThe interior has fluorescent lighting, perimeter hanging rails, good size waiting/reception area with L-shaped desk and comfy customer seating section, window displays with display plinths, chandelier, fully carpeted with leather effect tub chairs. There are also two good sized changing rooms especially sized to make the trying on of wedding gowns as easy as possible. Consultation RoomTwo generous changing rooms, hanging perimeter rails, fluorescent lighting, coffee table and comfy tub type chairs. From here is access to roof space. Workroom Generously proportioned with stainless steel sink and drainer, cupboard beneath, tiled walls, wall mounted hanging rails, laminate flooring and a desk. Staff RoomRange of wall and base units, 1 1/2 bowl sink with monobloc tap, washing machine, fridge, microwave, perimeter shelving and wood effect laminate flooring. Workroom 2Freestanding shelving, window to rear completed with laminate flooring. Store RoomA good size and useful store room with hanging rails and door to rear. FIRST FLOOR Office Window to front and perimeter shelving. This space has been used previously as an additional sales/ display area. Store Room 1 & 2Fluorescent lighting and hanging rails with access to roof space. Store Room 3Window to front with fluorescent lighting and hanging rails. To the rear of the premises is a good-sized car park for use by customers and staff, which could easily accommodate 6 averaged size cars All fixtures and fittings included in sale

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