ID : 37162
This well- established retail picture framing gallery is positioned in a strong City centre location with on-site parking. The business offers a full bespoke framing service and gallery to both the general public and commercial businesses throughout the City and County.
Established for 36 years within the same location the business is being offered for sale due to the genuine retirement of the proprietors.
The business has seen a continued increased turnover and profitability over the past 5 years with further details set out below and full details available to genuinely interested parties.
The business operates as a bespoke picture framing service and has a fully-fitted out and prominent double fronted picture gallery situated close to the centre of the City of Lincoln.
The overall business space extends to over 4,400 sq ft (413 sq m) of accommodation on two floors, being approximately 66% retail sales area and 34% workshop area.
The experienced staff currently comprise 5 full-time members and 1 part-time with over 100 years experience within the business collectively. Of the staff there are 3 full-time and 1 part-time member of staff within the workshop framing element of the business and 2 full-time members within the retail operation.
It is intended that the existing staff within the business will be transferred as part of the sale and full details of their employment history are available to interested parties.
Operating and trading on a 6-day working week basis (Monday-Saturday) the business offers scope for further expansion and growth. The sale of the business includes the sale of a dormant company which has potential for mail order retail art products. The business, as a retail and framing business, has seen significant and continued growth over the past 5 years with annual turnover increasing from over £285,000 to over £326,000 during this period with a high gross profit margin approaching 80%. Full financial information for the past 5 years is available from the sole selling agents Lambert Smith Hampton upon request to genuinely interested parties upon the signing of a Non-disclosure Agreement.
A full 5-year Business Plan has been prepared and put in operation by the vendors of the business and a copy of the same is available to genuinely interested parties. This highlights the projected growth of the business over coming years and potential opportunities that are available for the business.
The business has been grown by the proprietors who established the workshop and gallery in 1982 and they have seen the business grow significantly over recent years. The business operates both a retail service to the general public and commercial service to businesses. A full list of current business contacts and customers will be provided to the purchaser upon completion.
