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Shop for sale

Albert Street, Rugby, Warwickshire, CV21

£25,000

Property Description

Commercial information

  • Business for sale

Key features

  • LEASEHOLD
  • Ref 14442 G

Full description

Tenure: Leasehold

LOCATION
Goodie Two Shoes is located in an independent quarter of the town, close to the main shopping area of Rugby in a period terraced property alongside other complimentary retail businesses and opposite the Post Office and as such, enjoys high levels of footfall and passing trade.

The business is nicely presented and maintained and is well signed with visible and distinctive livery. There is metered, on-street parking immediately outside the business and there are a number of inexpensive, public car parks within a few minutes' walk.

Rugby is a market town in Warwickshire, the town has a population of roughly 71,000 making it the second largest in the county. The town centre is noted for its large number of pubs and the main shopping area in the streets around the Clock Tower; two of which -High Street and Sheep Street are pedestrianised. A street market is held in the town centre several times a week.
BUSINESS
Goodie Two Shoes was established over 30 years ago by the current owner and is now only being sold albeit reluctantly so that the owner can enjoy a well-deserved retirement.

The business is a supplier of the widest range of fancy dress, dance wear, dance shoes, wedding dresses and accessories. The business also stocks balloons and offers repairs and alterations.

The business enjoys great visibility on the internet with its own website and Facebook page (over 380 likes) and fantastic online reviews. The business has many regular customers and additionally has links with local dance schools and private schools. The website domain goodietwoshoes.co.uk is available under separate negotiation.

Scope to improve: -
Advertising and marketing campaign, most of the business comes currently through 'word of mouth'.
Upgrade the current website perhaps offering an e-commerce facility.
Introduce a customer loyalty/referral scheme.
Introduce more wedding dresses and accessories, big demand locally.
Extend the opening hours.
Consider an eBay shop.
Explore online voucher offerings from the likes of Groupon and Wowcher.
Expand the existing van sales part of the business.

PREMISES & EQUIPMENT
Goodie Two Shoes occupies the ground and first floors of a period terraced property and is presented and maintained to a high standard.

Ground Floor:

Shop -
Double fronted with windows and glazed door to front creating a light and airy interior, deceptively spacious and cleverly designed to maximise the space available, window display areas, wood effect flooring, suspended ceiling with concealed lighting, bespoke L-shaped counter with till, card machine and wrapping area, LED spotlighting, freestanding glass display cabinet and hanging wall space.

Rear Shop/ Customer Fitting Room -
Leading on from the front of the business is a further generously proportioned shop area which is currently used as a customer fitting room, with bespoke footwear shelving to the left, along with hanging rails for the display of the fancy dress costumes and loads of wall hanging space, customer seating area and door to the rear yard.

Yard
To the rear of the shop is a good sized and secure yard mainly laid to gravel with paved areas. There is a good sized and recently built metal storage shed which may be available by separate negotiation.

First Floor
To the first floor
First room which has a small kitchenette with a microwave, fridge, washing machine and 2 tumble driers but offering the potential to increase the shop area or perhaps as a wedding and prom dress boutique.

Second Room - available by separate negotiation.

The rooms could be sub-let to a complimentary business.

The sale includes an industrial overlocking machine.

TENURE
We are advised this is a leasehold sale.

Five years remain on the current lease, as of 2017.

The rent is an extremely reasonable 9,500 per annum and we are further advised that the landlord would be happy to negotiate a mutually acceptable lease with a new owner.

There are no business rates currently payable.

HOURS
The business currently opens:-
Mon and Tues 10.00-17.00
Weds - CLOSED
Thurs and Fri - 10.00 to 17.00
Sat 09.00 - 17.00
Sunday - CLOSED

STAFF
The business is owner managed with the help of one part time member of staff and casuals as and when required.

FINANCIAL PROFILE
As of the 2015 accounts, the business generated an advised turnover of circa 68,000; with a gross profit of 45%.

No business rates payable.

EXTRA NOTES

Reasons to Buy
A well-established business with an enviable reputation and many existing customers.
Little or no competition locally.
Minimal running costs with inexpensive rent and no business rates.
Current owner happy to offer a handover to ensure the continued success.
A real opportunity to increase turnover significantly, current owner has been running at a pace to suit.
Ideal owner managed or husband and wife business.


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