Retirement sale of family owned kitchen supply business with £1 million turnover yet massive potential for immediate growth.
Location
The business is ideally situated, with access to major road and motorway links via the M25 (junction 25), which is under ten minutes from the premises. Located in Ponders End near Enfield, Middlesex, just on the edge of Greater London, it is in the centre of a vibrant mix of densely populated residential, industrial and commercial areas.
Premises
The business occupies three adjoining two-storey units. The premises has twenty-four hour internal and external CCTV monitoring and recording plus a full Redcare (police linked) alarm system. It also has a combined electric and gas heating system.
The first floor has been superbly fitted to display a very extensive range of brand name kitchens to suit every budget. The spacious, brightly lit showroom is fitted to a very high standard, which reflects the quality of their products for sale.
The ground floor consists of unit 1: substantial warehouse storage area for larger kitchen items carcasses etc. plus fully fitted staff kitchen/restroom area. Unit 2: Main customer entrance and reception area with stairs to the first floor showroom. It also houses the fully equipped computerised point of sale area with large storeroom (for smaller kitchen items and components) and WC/washroom facilities.
It is important to note that unit three consists of a considerable ground floor area, which is currently unused and has excellent potential for business expansion purposes, particularly a showroom for the bedroom supply side of the business that is currently underdeveloped.
Business
The business was started by the owners seventeen years ago and has grown steadily, year on year into the thriving operation it is today. This family run business has built a superb reputation not only for the uncompromising quality of its products but also the fantastic range they carry including over five hundred door styles, rigid and flatpack carcasses, and a wide variety of stone, granite, wood and laminate worktops. This coupled with the warm yet professional service has established them as the premier independent outlet in London if not the whole Home Counties.
Reason For Sale
The owners passion and knowledge of their business are immediately obvious when you observe them interacting with their customers. However they have worked extremely hard over the years building up the business and have decided to retire and take a well earned rest.
Potential
The business has grown to a very healthy level over the years, however new owners with a more aggressive approach, may decide to alter the company policy on the following:
- They do not operate trade accounts or invoice customers
- They do not open early (trade customers would normally stock up at 8am )
- They only open late one day a week
- They do not open at all at weekends
- They do not go out and measure up kitchens or bedrooms
- They do not deliver
- They do not fit kitchens
- They close for two weeks, three times a year for holidays
- They do not have e-commerce facilities to sell directly from the website
- They do not send out brochures
- They do hardly any marketing whatsoever
With a current turnover around a million pounds, attention to the above, coupled with expansion of the bedroom side of the business could quite possibly double the turnover. This would result in an even more lucrative business, in a very short period of time, for nominal effort or extra outlay.
Comments
This business would be an ideal add on for a company that is already successful in the kitchen sales market, be it on a local, regional or national level. It would also fit well with a kitchen fitting/design business where it would compliment the core activities and provide substantial economies of trade in stock purchasing alone. The owners have already built a wonderful reputation and the goodwill that goes with the business is immense, providing an excellent opportunity for someone who is looking for a well known and well respected business operating in a specialist retail sector.
The current owners propose a very generous handover period of up to twelve months to provide an opportunity for the new owners to become acquainted with the business and continue the enviable reputation in the industry that this company has built over the years.
Price £1,900,000 plus SAV Funding can be arranged please ask for details.
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 directly to the vendor.
Early viewing is advised
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