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BUSINESS FOR SALE Retail General Antique & Art Shops

Very popular And Lucrative Antiques Shop For Sale

£74,980.00 (Fixed)

  • Very popular And Lucrative Antiques Shop For Sale
  • Very popular And Lucrative Antiques Shop For Sale
  • Very popular And Lucrative Antiques Shop For Sale
  • Very popular And Lucrative Antiques Shop For Sale
Description
Price : £74,980.00 (Fixed)
Type : Sell
Date : 17th September 2018
Warranty : No
Location : Hertford, Hertfordshire, UK

Business

Hilton Smythe welcomes to the market Honey Lane Antiques, which was established by our client in 2011, on a site that has been an antique shop previously.

Our client is now looking forward to retirement.

Honey Lane Antiques is a traditional antique shop that has a very good reputation in the area, with many clients known by name, our client has a very good rapport with the customers and would be willing to stay on for a transitional period.

Honey Lane Antiques best sellers are glassware and jewellery, this is an area that a new buyer could look to excel in order to create a higher turnover.

Our client advises she may be willing to allow the use of her pitch at Kempton Park, subject to the agreement of the kempton organisers, Also an antiques fair is held there twice a month.

The only advertising carried out currently is on Facebook, where there are 4.8/5* reviews, there are also 5* reviews on Google.

The business is profitable however there is further scope for development

1. Increase social media advertising

2. Create a website

3. Look to stock more glassware and jewellery

4. Extend opening hours

Hilton Smythe highly advise early viewing to avoid disappointment.

Location

Honey Lane Antiques is located in the middle of Hertford, the county town of Hertfordshire.

Hertford is a thriving town and has a high density of shops that bring in a high footfall.

Hertford is a town of approximately 27,000 residents which has many visitors from surrounding villages and further afield. There are several car parks close to the shop, which are convenient for shoppers.

Hertford, which is located on the main A10 between London and Cambridge, is undergoing expansion and redevelopment with many flats and houses being built in the area and money set aside for the redevelopment for the theatre.

Premises

The double fronted shop has internal shutters for the windows and a central doorway.

Ground Floor

• Showroom area holding 12 glass multi shelved displays

• CCTV system

• Plenty of room for stock which is generally £150,000 retail

To the rear of the showroom is a small kitchen with sink.

Further towards the rear is a small office space with desk and CCTV system and WC.

The premises are fully secure with a contract with ADT for 24-hour CCTV monitoring.

Tenure

We are advised the business is being sold as a Leasehold business opportunity.

This has always been on a rolling Lease with an annual rent of £9,600.

We have been informed by our client that no business rates are paid.

Hours

Monday And Tuesday: Closed

Wednesday To Saturday: 10am – 5pm

Sunday: Closed

There are no restrictions on the Lease and our client tends to open 7 days a week in the 3 weeks running up to Christmas.

The business would benefit from opening Mondays and Tuesdays.

Staff

The business is run and managed by our client.

Financial Profile

Honey Lane Antiques generated an advised turnover of circa £49,082 as of the 2017 accounts, with a gross profit of £38,751, a net profit of £14,215 and an adjusted net profit of £18,657.

Previous years have seen turnover at circa £65,000 and adjusted net profit of circa £25,000.

 

 



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