Location
Situated in the Barnet area of Greater London (population 340,000) The area has easy access to the M25 motorway (J24), which is ten minutes away. The London underground’s Northern Line terminates at High Barnet. New Barnet train station is on the Great Northern Route, and numerous bus routes are all within easy reach of the business. Densely populated areas surround the shop (67% are owner occupiers).
The Business itself is almost perfectly located. Not only is it on a very busy street, but it is right next to a traffic light controlled junction meaning a large percentage of passing cars have to stop directly outside the shop and they cannot help to notice the extensive range of scooters on display on the forecourt area. Finally there is a 40 space public car park next to the shop with disabled permit parking adjacent to the shop entrance.
Premises
The shop is a single fronted, single storey, lock up unit with spacious display area and smaller repair workshop, office and WC washroom facilities to the rear. It obviously has been designed with disabled and elderly people in mind and conforms to all current regulations regarding disabled access etc. It is tastefully decorated with laminated flooring and fluorescent lighting. Security is provided by shutters to the front and there is gas fired heating installed.
Business
The business was set up at considerable expense four years ago, since then the owner has built an unrivalled reputation in the area, demonstrated by the amount of repeat and referred business that it enjoys. Accounts have been secured with ALL the leading scooter suppliers such as Roma Pro-Medics, Sunrise, Pride, DMA and Inva-Med. This gives the luxury of an exclusive area in which accounts will not be granted to competitors. Revenue is gleaned from many different areas including new (and second-hand) scooter sales/service/repairs and sales of a diverse range of products from walking sticks through to easy access sitting room chairs. Vast arrays of products are sold ‘off catalogue’ which are not stocked but delivered to the customer’s home directly from the supplier with very little effort on the part of the seller. The business is not necessarily seasonal, although the summer months do tend to be busier on the whole.
Other Revenue Streams
This particular sector can bring in revenue from numerous areas. Referral commission is paid on stair lifts, ramp installation, vehicle conversion, specialist bathroom installation, insurance and many others. Also call outs are made to customer’s homes (for a fee) to service scooters, change batteries etc.
Tenure
The property is occupied on a two year renewable lease, and although this expires early next year the owner has a letter of intent from the landlord to renew and even offer a longer term lease if required.
Rent: £976 pm Rates: £315 pm
Turnover
According to the vendor the turnover has grown exponentially since the business started: Year 1 £40,000 Year 2 £80,000 Year 3 £120,000 and current the year is estimated to be £150,000. Mark up on most products is a very healthy 100%.
Trading Hours
The shop is currently open Monday to Friday 10am to 5.30pm and Saturdays 10am to 2pm
Personnel
The current owner employs one part time engineer, however free (two day) courses are available to enable a new owner to run the business single headedly if so desired.
Assets
The company website is included in the sale as is the company van.
Potential
The business has grown year on year since its inception. This growth looks set to continue and a new owner who is willing to devote time to the business should significantly increase the earnings, from the current level, as there is still vast potential for further expansion.
A massive Tesco development looks likely to be going ahead, further down the road, as part of an urban regeneration plan. It is unanimously agreed that this will significantly increase foot and vehicle traffic to the area, which can only enhance trade. Especially when you consider that mobility/disability supply market is an area in which Tesco do not trade.
Although the business does have a website there is tremendous potential for increased turnover if the website were expanded to include e-commerce facilities. Opening a company Ebay shop would also compliment the business and provide further expansion potential at minimal cost and minimal risk.
Reason For Sale
The current owner is retiring and relocating away from the area.
Comments
This is already a very profitable business, however there is still tremendous scope to grow the business and increase this further in a growing market created by an ageing and increasingly obese population, this should be a recession proof business.
(No previous experience is necessary, although experience of retail/selling may be an advantage. The vendor is more than happy to provide an adequate hand over period to ensure the new owner becomes acquainted with the business. Thus ensuring a smooth transition and uninterrupted business flow.
Funding can also be arranged. Please ask for details
Price £170,000 plus sav Early viewing is advised
If you require any further information or would like an appointment to view the business. Please telephone 0844 561 1806. Viewing is strictly by appointment only, through ABC Business Brokers and no approach whatsoever should me made directlyto the vendor.
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