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Successful & Profitable Mobility & Accessories Business

Minehead, Somerset

Advert ref: 2979nPS

This is a very  successful and long established independent living and mobility aids shop for sale.

Independent Living has been established in the popular coastal town of Minehead, Somerset for over 20 years and is the only retailer of mobility aids within a 20 mile radius and as such has a captive market amongst the local population many of which are have retired to the location.

The business sells, rents and repairs a wide array of products such as mobility scooters, stair lifts ( Third party supply & fix), adjustable beds, rise and recline chairs as well as other mobility accessories where customers can view the items in the showroom. In addition, the shop also offers cosy feet and sandpiper footwear and has a dedicated area for the selection and fitting of footwear. 

Due to its longevity in serving the town and surrounding areas with excellent customer service, there is a loyal customer base who visit the showroom for its ability to provide an almost one stop shop service.

The business ethos is based upon going above and beyond their customers’ needs and are proud of their association with the BHTA and the Federation of Small Businesses. This is a local business with an excellent local reputation for supplying products to customers in the town and outlying villages in West Somerset

Key features:

  • Established for over 20 years
  • Only independent living retailer within 20 mile radius
  • New lease available on similar terms to the existing lease.
  • Popular coastal town location
  • Loyal  & expanding customer base
  • No competition within 20 miles distance.
  • Attractive prime location.
  • Relationship with many of the local retirement homes.
  • Full service providor with repair capability

Property Details: Leasehold
Asking Price: £65,000 + Net Assets (Leasehold)
Turnover: £204,000 Annual
Location:

Independent Living is located on Park Street one of the main streets adjoining the avenue. 

Outside the shop is free on street parking and a disabled bay directly outside the business. 

Premises Details:

The premises enjoy a double fronted shop face offering passers by to quickly observe the sizeable showroom.

Overall, there are approximately 114 sq m of space split over two floors.

On the ground floor is circa 98 sq m of space divided between the main showroom, small workshop and staff kitchenette. 

On the first floor is the 16 sq m dedicated as a storeroom.



Size in Sq Ft: 1250
Lease Terms:
New lease is available through separate negotiation, the current annual rent is £11,000

Reason For Selling:
Our client's are preparing for their retirement.

Financial Details:
The accounts are professionally prepared and will be made available once the business has been viewed and interest expressed. The business is profitable and provides a good lifestyle for the two directors.
The two shareholders are looking to sell their shares in the business, in addition to the enterprise value as quoted there is approx. a further £50,000 of stock to be purchased subject to a count and negotiation.

Competition:
Our client informs us that they are the only independent living and mobility goods provider within a 20 mile radius.

Expansion potential:
Although successful in its current format, new owners may wish to leverage the maintenance service by offering annual service contracts to develop a recurring revenue stream.

The amount of goods that are offered for rental could also be increased, this would take advantage of the large amount of tourists visiting the area.

Employees: 2 owners FT, 1 PT
Trading hours:
9-4 Mon-Fri

9-1 Sat

Support & training:
If required, our client will provide a hand over and support to the new owners, In addition we are advised that the other director and PT member of staff may be willing to remain involved in the business however this is down to separate negotiation with the two individuals concerned. As a point of note both of these two staff members are only interested in a support role and should not be considered as 'front of house' in a sales led role.


Ideally a clean break would be the preferred route forward. the business would suit a husband and wife team looking for their first business. This is a lovely part of world and the business has lots of opportunity for expansion and growth. 

Rates:
According to VOA the current rateable value is £9,812 with the business currently exempt from business rates.

Costs:
Each party will be responsible for their own costs associated with the transaction and will be subject to Business Partnership terms and conditions.

The purchaser will be responsible for all reasonable landlords costs involved in the assignment or issue of new lease.

Fixtures and fittings:
All of the high quality fixtures and fittings will be included in the sale.

Established Independent Living Mobility & Accessories Business

Financial Details

  • Leasehold: £65,000 + Net Assets
  • Turnover: £204,000 Annual
  • Net profit: £52,000
  • Fixtures value: undisclosed
  • Stock value: undisclosed
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