| (REF: SE001235) Well Est Florist, Party Goods And Fancy Dress - Inland Town W Sussex |
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| Seller Reference: |
SE001235 |
| B4S Reference: |
28497 |
| Asking Price: |
£5,000
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| Net Profit: |
Undisclosed |
| Sales Revenue: |
Undisclosed |
| 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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A WELL ESTABLISHED FLORIST, PARTY GOODS AND FANCY DRESS RETAILER LOCATED IN A PRIME POSITION IN BUSY SHOPPING CENTRE OF SOUGHT-AFTER WEST SUSSEX TOWN
LOCATION
This well-established and highly successful florist and party goods retailer enjoys an excellent unopposed trading position in a pedestrianised shopping centre in a sought after town in West Sussex. It is surrounded by a wide range of multiple and independent retailers including Argos, Iceland and Lidl as well as the local Civic Hall and Library. There is ample shoppers' car parking available in the immediate vicinity.
The town is an expanding market town in Mid Sussex with a population of approximately 29,000. Situated in gently rolling countryside with views to the Sussex Downs to the south and the High Weald to the north it is a very pleasant place in which to live and work. The town has significant servicing and banking/finance sectors and a well established manufacturing sector with major employers including American Express, Porsche, Roche and BOC based here.
It is strategically located within the Gatwick Diamond business benefits from an excellent location near the south coast and direct road and rail links to Gatwick airport, the M25 and London.
THE PROPERTY
The business occupies the ground and first floor of a modern double fronted retail unit in a pedestrianised shopping centre. The shop frontage has aluminium framed display windows with recessed central entrance doors, and a colouful sign-written fascia board under a projecting canopy running the full length of the parade. The forecourt provides useful external display space which the local authority is keen to encourage as it adds to the colourful surroundings.
Large display windows lead to the main retail area, which extends to approx 930 sq ft with the floor laid to carpet tiles and a suspended ceiling with recessed florescent lighting. The interior is fitted with slatted walls and comprehensively equipped with display racking and shelving, glass display cases and Perspex dispensers etc. and there is a long service counter with worktop and electronic cash register. To the front of the store there is a flower chiller cabinet, pedestal display vases and greeting card racks, while towards the rear is a second counter and workstation area where helium balloons are inflated and assembled. Behind this there is a large storeroom leading to a rear exit with outside storage space access for waste disposal.
Stairs lead from the main shop to the first floor which is currently arranged as a showroom for fancy dress costumes. There is a separate office and at the rear a storeroom with kitchen and two WCs leading off. The total area on this floor is approximately 520 sq ft and could be converted to additional retail space if desired.
TENURE
The property is held on a renewable lease and we understand that the landlord is prepared to issue a new 5 year renewable lease to suitable tenants at a proposed initial rent estimated at between £16,000-£18,000 per annum. We understand that the landlords are responsible for the external structures including roof, walls etc and that the leasehold is only responsible for internal decoration, external paintwork, shop front and glazing, and we understand that the total rent and service charges payable to the shopping centre amounted to approximately £21,427 in the last financial year.
The Rateable Value of the property is £16,500 and we understand that the Uniform Business Rates currently payable are approximately £7,500 per annum.
THE BUSINESS
The business has been established for 16 years and moved to the current premises approximately 5 years ago when the previous premises had become outgrown.
Having started as a florist the business now includes party goods, balloon sales and event decoration and fancy dress hire which contributes about half of the turnover, and combines a healthy regular clientele with valuable contract work. The vendors are now offering the business for sale due to ill health and non-related professional commitments.
The business is currently run by two full time trained florists assisted by part time admin assistant. One of the owners works only part time owing to family commitments. Opening hours are as follows:
Monday - Saturday 8.30am to 5.30pm
The business is growing and is showing a healthy weekly turnover in the region of £2,600-£3,000 per week while returning an excellent Gross Profit Margin. Accounts for the last year show a turnover of £135,399. Full accounting information will be made available to bona fide purchasers following a viewing and meeting with the vendors.
The shop is part of the Direct2Florist network. The floristry side is very well established and is supported by a professionally designed website with online ordering facility. In addition to wedding and funeral work, the mainstay of the trade is regular account contracts with local businesses including Hotels, Golf Clubs, pubs, banks and a nursing home. In our opinion there is huge scope to increase this aspect of the business if desired.
The partyware side of the business is equally successful and offers a full range of equipment and gift ideas for childrens' parties. A whole section is devoted to helium-filled balloons, both as children's party gifts and as adult venue decoration, which may also be ordered from the website.
A recent introduction has been the fancy dress business on the first floor which is proving to be very popular and is contributing a valuable addition to the bottom line.
This is an ideal opportunity to acquire a rarely-available combination of floristry and party goods retailing with a good trading history and further scope to increase in the right hands, for instance by joining a relay network. Stock is estimated to be in the region of £20,000-£30,000, although we understand that this can be reduced prior to a completion of sale, 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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