Electrical Contractor & Specialist Audio Visual/tv/white Goods Retailer for Sale
Leasehold : £ 120,000
The business operates from prime retail premises with additional offices above the ground floor retail space. Ground floor retail space is circa 1,041 square feet with additional office, store room, kitchen, WC and workshop. Total ground floor area is circa 1,500 square feet.
First floor comprises an additional self-contained office (circa 180 square feet) and then there are the two self-contained flats (both 2 bed).
There is basement storage (circa 450 square feet) and a rear car park for approximately 8 vehicles.
The current asking price excludes the freehold property. Vendor is happy to sell the freehold to a new owner subject to negotiation. We are advised freehold value is circa £700,000.
Electrical Contractor & Specialist Audio Visual/TV/White Goods Retailer
NICEIC Installer/Specialist Dealer & Service Centre
Asking Price £ 120,000
An opportunity to purchase a rather unique business that operates in both the retail and commercial market place, benefiting from multiple revenue streams and exclusive supplier agreements that it has had in place for many years.
This family run business has been successfully trading in the centre of this affluent town for almost 70 years and has built up a sterling reputation in the area, and a loyal customer base, who appreciate the high quality products and superior service levels and installations this company provides.
The business has 3 core revenue streams.
• Retail sales of leading brand Audio Visual, TV, Satellite and other white goods
• Domestic Installation of such equipment and other domestic electrical installations (NICEIC Domestic Installer)
• Electrical contracting and installation services (B2B)-NICEIC Approved Contractor
The mix of business has changed over the years and currently the retail and installation of retail equipment, makes up approximately 70% of total revenues, with the other 30% coming from commercial works. Previously the contracting work has made up a larger proportion of the business, however some of the clients the business has historically worked with have changed their strategies with regards to the upkeep of their own commercial premises, this has led to a drop in this sector (company turnover has been as high as £1Million per annum previously, with contracting work making up circa £500,000 of this).
The firm is very well established within its market, providing a ‘one stop shop’ to many of its customers with a guaranteed range of services and the highest levels of quality. The business is located in the centre of the town, which is very affluent and appreciates the high quality brands the company retails. The company is an authorised dealer and repair centre for a leading AV manufacturer and has extensive knowledge and advice at its disposal. Customers travel significant distances to view and buy products due to the choice, the advice and more importantly for the after sales service that continues to be provided and includes delivery, set up and installation, whether it is for a simple TV or for full wiring plus high tech system design required for Home Cinema, Hi-Fi etc.
The company has literally thousands of historical customers on the database, many of whom are repeat clients (and generations of the same family) who have used the company over many years.
The business is being offered for sale as leasehold. However the company also owns the freehold and would be happy to sell these prime retail freehold premises (that include two self-contained two bedroomed flats with strong rental yields) should a new owner so require. Freehold value is circa £700,000.
||Monday- Friday: 08:30-17:30
||The vendor works part time in the business (4 mornings a week) and another family member works full time overseeing the operation. The business employs a Retail Manager, TV Engineer and 2 Electricians all on a full time basis as well as a part time administrator.