alxfer Posted March 14, 2017 Report Share Posted March 14, 2017 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 . kobblers 1 Quote Link to comment Share on other sites More sharing options...
alxfer Posted May 19, 2017 Author Report Share Posted May 19, 2017 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 Quote Link to comment Share on other sites More sharing options...
Peter@CopyCut Posted May 20, 2017 Report Share Posted May 20, 2017 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. Fast Fix Elgin 1 Quote Link to comment Share on other sites More sharing options...
Michael Posted May 20, 2017 Report Share Posted May 20, 2017 Why would you sell a business that's turning over £670k PA for just £44k!!!! Payson 1 Quote Link to comment Share on other sites More sharing options...
grahamparker Posted May 20, 2017 Report Share Posted May 20, 2017 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. Fast Fix Elgin, Auto Key Wizard, CDTL and 3 others 6 Quote Link to comment Share on other sites More sharing options...
Peter@CopyCut Posted May 20, 2017 Report Share Posted May 20, 2017 Well, I'll bet you guys know, convenience store runs on approx 15% profit margin, key cutting 80%, so even if he had 100% profit at 27k turnover what's the point unless you are single and live in the flat above. ironplanet uk900 1 Quote Link to comment Share on other sites More sharing options...
Peter@CopyCut Posted May 20, 2017 Report Share Posted May 20, 2017 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 Quote Link to comment Share on other sites More sharing options...
grahamparker Posted May 20, 2017 Report Share Posted May 20, 2017 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 x minit uk 1 Quote Link to comment Share on other sites More sharing options...
marky1 Posted May 21, 2017 Report Share Posted May 21, 2017 i have a shop turnover 130k and was looking for 40k but not many people want to part with cash, Quote Link to comment Share on other sites More sharing options...
Mick Friend Posted May 21, 2017 Report Share Posted May 21, 2017 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........ Quote Link to comment Share on other sites More sharing options...
grahamparker Posted May 21, 2017 Report Share Posted May 21, 2017 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. Quote Link to comment Share on other sites More sharing options...
alxfer Posted August 1, 2017 Author Report Share Posted August 1, 2017 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 Quote Link to comment Share on other sites More sharing options...
Flash Posted August 1, 2017 Report Share Posted August 1, 2017 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. Quote Link to comment Share on other sites More sharing options...
Broms Cobb Posted August 2, 2017 Report Share Posted August 2, 2017 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 Quote Link to comment Share on other sites More sharing options...
Flash Posted August 2, 2017 Report Share Posted August 2, 2017 the purchaser will, if he is running one shop - if he has other shops/businesses then no As I said, 100% rate relief is not necessarily an asset. Quote Link to comment Share on other sites More sharing options...
Simes Posted August 5, 2017 Report Share Posted August 5, 2017 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! kobblers 1 Quote Link to comment Share on other sites More sharing options...
ironplanet uk900 Posted August 5, 2017 Report Share Posted August 5, 2017 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. If the turnover is shit then the net profit will be shitter.... just sayin Quote Link to comment Share on other sites More sharing options...
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