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Business for sale in United Kingdom - Ai028-well established retailer of domestic heating equipment-hull

Asking Price: 250,000 £ Real Estate: Lease
Sales Revenue: 457,000 £
Net Profit: 166,000 £
Year Established: 1980
Employees: 3FT
# of family members employed: Not Disclosed
Location criteria:
United Kingdom/West Yorkshire/Hull

Business types:

Retail

Business categories:

Electronics & Appliance Stores ; Hardware Stores ; Other Retail Trade

Business description

a rare opportunity to acquire a profitable and well established family run retailer of heating equipment has arisen in the city of hull. Founded over 100 years ago by the owner’s grandparents, the business has concentrated its efforts on the domestic heating market for the past thirty years. The business has a great edge of the city centre location on one of the busiest roads in the area, attracting a huge volume of traffic which passes the showroom every day of the week. The magnificent freehold property has a large showroom on the ground floor with over 80 displays for the customers to choose from, including fires, stoves and fireplaces with a choice of appliances which can be used with gas, electric, oil/gas and solid fuel. They also sell bottled gas for patio heaters and barbeques. The property is across three floors with the second and third floors virtually unused at present apart from a small amount of storage. Outside there is ample free parking for customers. The cornerstone of this business is its honesty and integrity, this business prides itself on the quality of its merchandise and the extensive knowledge and help they provide their customers. They are fiercely competitive offering a “never beaten on price” guarantee with the lowest prices available in the area and great package deals to choose from. Customer service: this business maintains an extensive and loyal base of satisfied customers who appreciate prompt, friendly service, reliability, convenient hours and competitive prices of well known brands and appliances such as valor, stovax and hunter. Unlike many competitors the business will not compromise on service to its customers or the quality of products on offer, there is little doubt that this has encouraged and sustained client confidence and loyalty. The business offers high quality customer care from friendly staff, cultivating a warm and welcoming atmosphere. Key strengths: the company has developed in such a way that it can cater for even the most demanding of clients. They have a wide range of appliances on display for all types of fuels, including, gas, electric, oil and solid fuel, with prices to suit all budgets. This is a long standing, well established, family business which has been trading for over one hundred years in the city, and trading as a domestic heating retailer for over thirty years. Many clients have purchased heating appliances from the company for many years and they have enjoyed exceptionally high levels of repeat business and referrals. The business has an excellent understanding of its customers requirements with appliances and prices tailor made for their market place. Growth and expansion: this is an outstanding opportunity to build on the effort and investment that has been put into the company over a number of years to establish an outstanding name and reputation. There is huge opportunity for new owners to build on the established business that the owners have created. This is a family business with old fashioned values and a traditional mode of operation. There is no website at present and the company has potential to increase its sales, from on-line purchases, by the creation and implementation of a dedicated site. Other opportunities are to sell boilers and to create a trade counter at the rear.

Additional information

Additional information: Not Disclosed
Support & training: The owners would be happy to help with a smooth transfer of the company in any way possible.
Reasons for selling: The owners have worked happily for the past thirty years to build up the business. They have now reached retirement age and wish to take life easier.
Financing available: Not Disclosed
Inventory / Stock value: Not Disclosed

Real Estate

Ownership: no
Lease: yes
Lease terms: Not Disclosed
Location: There are options to either purchase the freehold of this magnificent three storey building or to rent out the premises from the owners. New owners would have the possibility to sub-rent the premises as at present only one floor out of three available is being used. The freehold premises were recently valued at £350,000. The yearly rental would be circa £30,000 per annum with rates of £7,000 per annum. The period of time for the lease is negotiable. The ground floor has a large heating showroom which takes up seven rooms in total. There are also offices on the ground floor, with a storage and goods in area at the rear of the premises which could easily be utilised as a trade counter. At present the storage area is used as a staff car park Both the first floor and the second floor have six rooms on each, with an opportunity to either sub- rent out or to expand the business. The second floor was originally used a a large flat and could be another way to utilise the spare space available.

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