Leasehold Bridal Studio In Coventry For Sale
This outstanding concern is located on the famous and Historic Medieval Spon Street which is in Coventry’s City centre. The building is grade II listed, dates back to the 1400s and boasts natural beauty with exposed oak beams giving the business real authentic elegance. Coventry attracts many shoppers and tourists and offers easy access to all motorway networks.
Asking Price: £19,950 plus SAV
Turnover: £135,482 pa net of VAT
GP: £81,585 (60%)
Adjusted Net Profit: £31,627
Original term: 5 years
Remaining: 1 year (renewable)
Rent: £16,500 pa
Veritas Business Sales are delighted to offer for sale this respected Bridal business which is located in Coventry City centre. The business was set up by my client in 1998 and has been in her careful hands ever since .Reluctantly they are offering the business for sale so that they can enjoy a well deserved retirement. Since ownership they have invested in new fixtures & fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. The business is owner and family operated and requires the help of 2 part time members of staff. The annual turnover is £135,482 with a gross profit of £81,585 and a healthy adjusted net profit of £31,627. The shop retails a fine selection of Bridal gowns with protected brand such as, Maggie Sottero, Ronald Joyce, Venus, Kelsey Rose, Rebecca Ingram and True Bride and they equate to 95% of the turnover with remaining 5% which comes from the sales of veils, tiaras and accessories. We believe that there is further potential to increase trade by opening on Wednesdays and extending the range to Mother of the Bride, Bridesmaids and Prom dresses. The business already enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade along with recommendations from happy brides. This is a superb opportunity to purchase an established business which is a great base to build upon and as such early viewing is highly recommended as this business is not to be missed.
Monday & Tuesday – 9.30am – 5.00pm
Wednesday – closed
Thursday – Saturday – 9.30am – 5.00pm
Sunday – closed
Retail gown studio comprising: sales counter with cash register, customer seating are with couch and 2 chairs, gown display hanging rails and 2 x fitting rooms.
W/C with hand wash basin
Kitchen with fitted units, sink drainer, fridge and microwave.
Landing with storage cupboards.
Storeroom which could be second retail showroom
Shared rear courtyard
The ground floor benefits from electric storage heating.