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Hi, I am looking to sell my shoe sales and repair business, which is located in a South Lincolnshire market town.

Selling due to impending retirement, this is a long established and respected business which is on rented premises.

The shop consists of front sales area, repair workshop to the rear of the counter and has toilet facilities.

Currently trading in shoe sales, shoe care, shoe repairs and household key cutting, so there is scope for developing watch repairs and engraving.

Currently only working a 4 day week, so options for more opening hours available.

Just had the letter confirming 100% business rate relief, so no rates payable.

Turnover from last years figures is £27K+

Sale to include everything in shop including all shoe, key and repair stock.

Machinery includes Whitfield finisher, pneumatic press, outsole stitcher, Singer patcher, RST mortice and Silca Rekord cylinder machines.Heat cabinet and pet disc engraver and letters.

The shop has 3 phase electrics.

Car park close by with council trader parking passes available @ £30 / month.

Looking for £25000. No offers please. 

Please do not hesitate in contacting me in event of any query, either through this site or by phone 07908 721214

.

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Now have to take an earlier than expected retirement from the trade, so have decided to reduce the asking price to £20000. Stock including shoes, keys, walking sticks, repair stock, laces and shoe care all valued at £12500 in September. Again call 07908 721214 to ask any questions, thanks

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Look, I don't want to be rude but I see people trying to sell their shops all the time, on ebay and on other websites, with 27K turnover your shop is worth around 7k and stock at 10% £1250.

Be realistic ask £10k and maybe someone will haggle and buy it, otherwise you will end up like others, ebaying everything separately for £2k and paying someone to take shoe machines to the scrapyard.

The only other option is to give it to someone with the option to pay later that 10k, but even then, with 27k turnover he will struggle to pay it back.

 

My friend just bought a news agent, with key cutting, watch repair and passport photo section. Paid £44k but the turnover is £12k a week from the convenience store alone and £1400 a week from service section.

This makes £670,000 turnover. The problem is that in this country everyone can open store like yours with 10k and he will have everything new, shoe repair is dead anyway unless your shop is in the city.

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Look, I don't want to be rude but I see people trying to sell their shops all the time, on ebay and on other websites, with 27K turnover your shop is worth around 7k and stock at 10% £1250.

Be realistic ask £10k and maybe someone will haggle and buy it, otherwise you will end up like others, ebaying everything separately for £2k and paying someone to take shoe machines to the scrapyard.

The only other option is to give it to someone with the option to pay later that 10k, but even then, with 27k turnover he will struggle to pay it back.

 

My friend just bought a news agent, with key cutting, watch repair and passport photo section. Paid £44k but the turnover is £12k a week from the convenience store alone and £1400 a week from service section.

This makes £670,000 turnover. The problem is that in this country everyone can open store like yours with 10k and he will have everything new, shoe repair is dead anyway unless your shop is in the city.

 

Turnover means f**k all.

 

Nett profit is what matters, nothing else.

 

You could turnover 1 mill and make £1 nett profit so what's the point.

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Why would you sell a business that's turning over £670k PA for just £44k!!!!

 

Because this is the going rate, again he could ask 500k and never move on, while someone can open a new convenience store for:

10k pukka fit-out

10k stock

5k alcohol stock

5k tabacco

 

Loads of my friends do that, no life though up at 5am finish at 11pm on every single day, including bank holidays

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Ayway, back to the original post.

 

Now have to take an earlier than expected retirement from the trade, so have decided to reduce the asking price to £20000. Stock including shoes, keys, walking sticks, repair stock, laces and shoe care all valued at £12500 in September. Again call 07908 721214 to ask any questions, thanks

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It is a very difficult area

The whole trouble is what is 'turnover' can it be proved - (I assume yes)

Can I afford to lay out £40K and hope to recover that in a reasonable time as there is still overheads to be paid out - And some 'loyal' customers will walk because he don't like the new guy.

 

when I sold up to emigrate I got the rip off's offering me £2 the liars offering £2000000000K and the no knobs who wanted to slag me off

In the end I had to liquidate the stock, pay off my bills and loose £40K on the stock that the liquidator made £15K on

sold the lease and left after 20 years with FA.

 

Would I do it again knowing what I know now? NO A HOPE IN HELL I would be a politician, lie, cheat, ripoff and take every cent thrown at me - then tell the public how great I serve them........

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i have a shop turnover 130k and was looking for 40k  but not many people want to part with cash, 

 

Again, what was your net profit ?.

 

Over the last 5 years our turnover is averaging around 200k with nett profits of between 32k and 58k. We own the building and pay no rates.

 

I would always consider selling but no one would ever match my valuation.

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After taking advice regarding sale of my business, I am now open to offers. But I don't want my pants pulled down!

100 % rate relief

Low rent

All stock included

Just ask for more details if interested 07908 721214

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After taking advice regarding sale of my business, I am now open to offers. But I don't want my pants pulled down!

100 % rate relief

Low rent

All stock included

Just ask for more details if interested 07908 721214

 

You may get 100% rate relief, that does not mean the purchaser will get 100% rate relief.

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You may get 100% rate relief, that does not mean the purchaser will get 100% rate relief.

the purchaser will, if he is running one shop - if he has other shops/businesses then no

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In general, surely there must be some value in a shop with proven turnover, a net profit sufficient to provide a good steady income from day one an all the required equipment, plus location?

 

I have wondered about this for a while.  I would certainly sell up for the right money, but wouldn't give my business away.

 

I'm sure that a business that already has a proven record must be an asset of more worth than the risk of starting from scratch and waiting for a business to build.  A £100k turnover doesn't happen overnight.  Then there are other potential assets such as Social Media sites and websites.  

 

Wouldn't fancy starting from scratch again!

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