Business Summary

Bridal Wear and Prom Retailer
Ref.AB200
Location Bury St Edmunds, Suffolk
Asking Price £ 90,000
Leasehold Available

Asking price includes:

Turnover circa £160,000
Gross Profit circa £102,000
Net Profit circa £36,000
Stock valued circa £38,000
Excellent town centre location
Established 18 years
Website
Goodwill
Business profile:
Established in 1992, this business is a retailer of wedding gowns, bridesmaid dresses, menswear, shoes, evening and prom wear.

Located in the heart of a thriving town centre, the business has become a destination business as a result of eighteen years of relentless determination on the part of the owner to deliver customer satisfaction. The business has created such a strong reputation that the nearest a competitor dares to tread is some 15 miles.

The business carries large levels of stock, a big plus point in terms of matching the right dress for each and every bride, bridesmaid and partygoer. Sizes available range from 6 to 30.Numerous designers, styles, fabrics and colour schemes are sourced from suppliers as far afield as Australia and the United States.

The business is constantly in demand, firstly due to lack of competition, secondly due to the very high levels of footfall passing the business daily and thirdly as a result of large numbers of recommendations from satisfied clients. Weddings are the perfect event to showcase the elegance and quality of your product and the business receives order after order due to this ‘domino style effect’.

The business is always looking to keep pricing competitive and discounts of up to 10% are available on orders of £4,000 plus. All budgets are catered for and wedding dresses retail from £300 up to £3,000.

The business provides an alteration service, dry cleaning service, has a dress maker for bespoke design requests and will even offer training to bridesmaids, mums etc on how to dress the bride to achieve the best possible look.

The business has forged successful partnerships with local retailers such as florists and confectioners serving the wedding market.

The prom side of the business is growing every year. It has helped to top up trade from December until July.80% of the prom business is hire, providing excellent margins.

Customer Service:

The business employs exactly the right type of people for this type of shop. Friendly and down to earth, each member of staff will take care of an individual customer from start to finish. By keeping one point of contact, the customer builds up a strong relationship with that member of staff and communication errors are avoided.

This business offers an excellent and unparalleled level of customer service in a welcoming and relaxed environment. The staff are all aware of the importance of making the buying decision part of the preparations for the day itself. Nothing is too much trouble and clients are encouraged to take as much time as is required to come to the right decision.

Key Strengths:

The business is superbly located. Over the course of eighteen years, the business has built up an excellent reputation that results in customers travelling 30 miles or more to use the services of what is considered the best bridal shop anywhere in the area.

The long serving members of staff are an asset to the business and are very popular with customers as a result of their expert product knowledge and personalities that are ideally suited to the role.

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