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Retail

Building Materials, Hardware & Garden ; Hardware Stores ; Home Furnishings ; Other Retail Trade

the business specialises in supplying sinks and taps being renowned for its excellent range of stock and also benefits from an excellent location in a very densely populated area of london.. Trade clients will often travel a considerable distance to purchase equipment that is not available at even some of the largest diy superstores, in fact, some of the larger stores purchase specialist equipment from this business. In addition to its core productts, the business has now also developed a reputation for both work tops and replacement doors. The business is, in fact, benefitting from specific recommendations for doors from one of the countries biggest manufacturers. The current owner took over the business as a going concern in 1985, the property consists of a shop positioned on a corner plot on a busy main road. To the rear of the shop there is a significant storage area, while above the shop is a one bedroom flat that generates rent of £570 per month. The current owner has been in the trade for 25 years and he has built up an excellent reputation. As you would expect he knows what will sell and stocks his business accordingly and has developed first class relationships with suppliers. As a result of specialising in sinks and taps, the owner is able to purchase at preferential rates and subsequently pass on these savings to ensure that he is able to provide his product range at highly competitive prices. The business also provides a kitchen design and fitting service, although at present this is not a key element of the business, but that is by choice and could prove to be a further opportunity for the future owner. At present 40% of sales are to the trade and 60% is to private clients. The majority of clients collect their purchases from the business. Customer service: the product knowledge and expertise that is given has helped to grow the business to its current level, with advice on products being highly sought after. If any particular item is not in stock, the owner will go the extra mile to source the product as quickly as possible. This helpful approach has resulted in high levels of return business as well as numerous word of mouth recommendations. Equipment: a significant level of stock and all fixtures and fittings in the shop and storage facility are included in the sale. Key strengths: the business has developed a reputation for being ‘the place to go’ for sinks and taps. Local competition has come and gone. The business specialises in certain products and gains constant referrals from competitors that do not have the variety of stock or the supplier relationships to obtain some very specific product lines. Profit margins on many of these specialist product lines are very healthy. Fixed costs have been kept to a minimum and currently there is just one member of staff, who is self employed. Growth and expansion: the premises offer room to expand. The storage facility could be relocated, which would allow the shop to more or less double in size or alternatively the living accommodation could be converted to create a second floor for the shop. The business could also expand its range of products and the design and fitting service could also be developed. The current owner only works three days a week in this business as he has other business interests further afield. Somebody dedicating 100% of their time to this business would help to achieve growth going forward.

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