Retailer, Supplier and Installer of Doors
To the public and Trade from a well sited shop, on a busy North London High Street
Location : London
Asking Price : £64,000 + Net assets
This well-known and respected business was founded in the 1950’s as a general DIY & hardware store and was bought by the vendor in 1983; since which time, it has been converted into a specialist retailer, installer and supplier of doors to the public and trade. A typical customer is a high net worth individual in that part of North London where the business is sited or the customer’s contractor.
This means that almost all of the business’ customer base is domestic and a small percentage can be said to be trade; and are typically within a 1 hour’s drive from the shop.
The shop is an attractive period property of double proportions and an excellent presence on this busy and popular high street in North London.
The company employs a skilled and motivated workforce , with an experienced shop manager responsible for all matters including sales, supply, people and client/customer matters. The business also benefits from an exhaustively produced searchable database of all its products, enabling a rapid, fully comprehensive and detailed quotation and stock management control. This approach to managing every part of the customer experience has led to high levels of repeat custom, sometimes across family generations.
The company has become known as a reliable, quality-focused supplier with an extensive range of options for internal and external doors in nearly every style and from all popular materials. The ability to provide such a wide range from a supplier group of more than 10 individual providers means that the customer can nearly always be guaranteed the delivery or supply of the door that they want at the right price.
The vendor has also recently invested in a full e-commerce facility for the company website, which is expected to increase turnover substantially.
This is a very competitive sector and the business’ success is due to this combination of location, range of purchase options and price.
The business operates from well sited period premises, in a parade of occupied and similarly appointed shops, with 2 large Picture Bay Windows that provide for an extensive product display, which often draws passing trade into the shop. It is located on a main North London road with easy access to the M25 and central London, and is close to some of North London’s prime property areas.
The premises are situated on the ground floor, with a half share of a basement and is leasehold with the current lease available for renewal in 2019; the current lease was 10 years duration.
Space for the ground floor is circa 900 square feet with circa 450 square feet for the basement and includes showroom, storage and workshop; rent is circa £26,500 per annum with rates of circa £9,500.
The company has a dated but attractive website providing details on the range of products and services.
A high proportion of the business revenue has been due to its excellent reputation for quality and service and the business regards its existing customers and partners as its best advertisers, maintaining an impressive database of high net worth individuals, whilst continuing to attract new referrals and recommendations.
The business employs 5 full time staff along with the vendor;
1 x General Manager
1 x Deputy Manager
1x Sales Assistant
1x Driver & Shop Assistant
Usual office hours are Monday – Saturday: 8.30am – 6pm
Support & Training:
The vendor is happy to provide support and training for a negotiated period.
Reason For Selling:
The vendor wishes to retire.