| (REF: SE001067) Picture Frames, Prints And Pictures + 1 Bed Flat - W Sx Resort Town |
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| Seller Reference: |
SE001067 |
| B4S Reference: |
28476 |
| Asking Price: |
£39,950
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| Net Profit: |
Undisclosed |
| Sales Revenue: |
£24,000 |
| Number of Staff: |
Send enquiry for more details. |
| Established For: |
Send enquiry for more details. |
| Ownership: |
Leasehold |
| Location: |
Undisclosed, West Sussex, United Kingdom |
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PICTURE FRAME, PRINTS and PICTURES RETAILER WITH ROOM TO INCLUDE BESPOKE FRAMING OR OTHER RETAIL SUCH AS GIFTS, ETC - TOGETHER WITH A 1 BEDROOM FLAT AND EASY ON-STREET PARKING IN CENTRE OF POPULAR WEST SUSSEX COASTAL TOWN
LOCATION
This picture frame, prints and pictures shop is located in a popular coastal town in West Sussex. It enjoys a prominent trading position in the centre of the town within 50 yards of the railway station, and has the benefit of on-street parking outside the shop. It enjoys high footfall amongst a good variety of independent traders, and serves a densely populated catchment area.
The popular town contains many of the major multiple retailers such as Boots and W H Smiths, as well as banks, building societies and a range of specialist retailers. There are rail links with Brighton and London, and road transport is also well developed with the main coastal routes nearby.
PREMISES
The business occupies a double fronted retail unit in a well-established parade of shops in a two storey building of brick construction. The shop has been fitted with large display windows and an offset central entrance door.
On the front of the shop there is a remote controlled electric retractable sun awning, plus two acrylic sign-written fascia boards and a suspended sign.
Inside the retail area extends to approximately 600 sq. ft and the interior is well illuminated by florescent lighting and the floor is laid to carpet tiles. The side walls are slatted on the upper parts with adjustable shelving and racking below to enable the display of all sizes of prints, frames and albums etc. In the centre of the shop there is an island gondola unit again with adjustable shelving suitable for displaying various sizes of artwork and frames.
The shop, now mainly sells frames, pictures and prints, but also offers a photo processing service, which still generates a useful additional income, and as such for those that are interested, at the rear of the shop is a purpose built retail counter for photographic services, behind which is a new KIS DKS1550 mini-lab (photo-me brand) and a Konica QDF 32T negative processor and a networked PC. The mini-lab is capable of producing prints up to 10" x 12" and combines best print quality with automatic digital enhancement, dust and scratch removal, colour and density correction and red-eye removal. There is plenty of working space and shelving for stock plus a small separate storeroom with a sink and door to rear access. Outside the back door there is a WC.
The area currently used for the photographic services, can easily be adapted to provide a suitable area for bespoke framing, a service that is offered but currently outsourced. Alternatively this area could be changed to provide an area to either expand the range of current products offered, or perhaps to incorporate gifts or interior décor/furnishings for example.
Down one side of the shop there are two networked self-service e-station terminals enabling customers to order their own prints from memory cards, CDs or DVDs, etc. and one of these prints express 6 x 4 photos.
Upstairs there is a one bedroom flat with lounge, kitchen and bathroom currently let on a one month notice agreement.
TENURE
The premises are held on a renewable lease currently running to January 2015 at a current rent of £9,000 per annum, which we understand is fixed for the next 4 years. The rent is currently reduced by the income from the flat above the shop, which currently generates £6,000 per annum. The rental income received in effect reduces the total rent to just £3,000per annum, alternatively the accommodation can be used by a new owner, if desired.
The Rateable Value is £8,600 with Uniform Business Rates of approximately £2,998 payable in 2010/11 after Small Business Relief. The flat falls into Band A for Council Tax purposes.
THE BUSINESS
The business was established by the current owners 15 years ago having previously traded as a traditional picture frame shop and is being offered for sale as they now wish to sell in order to retire.
The shop retails prints, pictures, mirrors and picture frames (both ready made and bespoke). Additional services such as poster prints, canvas prints, printed T-shirts and mugs etc are also offered but produced elsewhere. In addition standard photo printing, enlargements, passport and ID photos, instant prints and photo gifts, are also offered
The business has many valuable connections with art groups and societies. Opening from 9.00am to 5.00pm Monday to Saturday, the business is run by the two partners with occasional part-time help.
Turnover in the last financial year showed retail sales of £70,869 with a Gross Profit of £44,231 and healthy retained Net Profit in excess of £24,000. These figures exclude an additional £34,905 of photographic processing sales, which generated a further Gross Profit of £24,992 and extra Net Profit of £16,721.
However, it is appreciated by our client that sales of photographic processing services have reduced with the 'digital' age, consequently the business is being offered for sale without the photographic equipment, enabling a new owner to develop their ideas for additional retail sales.
Full accounting details will be made available to seriously interested parties following an initial viewing and meeting with the vendors.
We are of the opinion that this represents an excellent opportunity to acquire a profitable and well equipped business with great prospects for further growth with additional products and services. Stock is expected to be in the region of £10,000 but we understand that this can be adjusted, if desired.
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Property: |
Leasehold |
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Living Accommodation: |
No |
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Is this a home-based business? |
No |
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Can this business be relocated? |
No |
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Is this business part of a franchise? |
No |
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