ID : 37220
Business
Hilton Smythe welcomes to the market Geoff C Cook, which is a dual aspect business incorporating a picture framing studio, together with a bookshop next door, which are interlinked and complement each other.
The main business is picture framing, with all types of framing undertaken from pictures to medals, from sports shirts to wedding memorabilia.
You also have a wide range of frames and mounts to suit all occasions. Next door is the book shop, offering a wide range of unusual books, which at one stage was turning over as much as £600 per week, when it was online.
The current owner has run the business for 31 years now, so it is very well known and established in the area, having a great reputation. He is now looking towards a very well earnt retirement.
The shop is run to suit our clients’ needs as he is now looking towards retirement, however things could easily be taken to the next level with an active website for both sides of the business, with book sales in particular, doing very well online.
More advertising, social media and longer hours would all contribute to helping the business grow.
There is great potential for the discerning purchaser to move this business forward and an internal inspection is highly recommended to fully appreciate what’s on offer.
Location
Geoff C Cook picture framing is situated in Gloucester town centre, close to the very busy Quays development.
Gloucester is well served by the M5 motorway, which runs to the east of the city. The A38 runs north–south through Gloucester connecting the city with Tewkesbury and Bristol.
The A40 runs west to east, connecting Gloucester with Cheltenham to the east (via a dual carriageway section known as The Golden Valley Bypass) and the Forest of Dean and Monmouth to the West. The A46 and A4173 links Gloucester and Stroud, and the A417 links Gloucester with Cirencester in the south east and Ledbury in the north west. The population in 2016 was 145,600.
Premises
The premises are easily managed, yet a good size and are essentially 2 shops in 1, with overall space of approximately 137 sqm.
You have 2 separate shop areas, 2 store rooms, kitchenette, 2 x WC’s, rear store, workroom and cellar.
There is a range of equipment included with the sale as follows;
• 2 x Morso guillotines
• 2 x Cassese under pinners
• Keencut Altamat gold
• 48-inch mount cutter
• New C&H 48-inch mount cutter
• 4 x map chests
• Benches and tables
• Rulers
• Shelving and racking
• Various specialist tools
• Oval cutter in the basement
• Various shelving and racking and more.
An internal inspection is very highly recommended to appreciate the real potential on offer.
Tenure
We are advised that the business is being sold as a Leasehold opportunity, on a 5-year Lease.
The rent payable is £6,000 per annum.
Hours
Monday 9:00 am to 5:30 pm
Tuesday 9:00 am to 5:30 pm
Wednesday 9:00 am to 5:30 pm
Thursday 9:00 am to 5:30 pm
Friday 9:00 am to 5:30 pm
Saturday 9:00 am to 5:30 pm
Sunday Closed
Staff
The business is currently run by the owner and a self-employed picture framer.
Financial Profile
The accounting information for the year ended April 2017 shows a turnover of £53,574 with a gross profit of £33,124 and a net profit of £11,110.
We are advised that the current stock level at instruction is around £10,000.
According to the VOA website the current rateable value is £2,550 per annum, however the current owner informs us that the shop currently benefits from small business rate relief, so has no rates to pay.
