Property description
MORGAN BROOKES - Johnston Watches of Leigh is an independent watch and clock shop positioned in a prominent location in the ever-popular town of Leigh On Sea.The business sells a variety of new, pre-owned, vintage watches and clocks. It also provides a popular destination for supply and fitting watch straps and batteries, plus an ever-growing watch and clock repairs and servicing department. The shop is open 5 days per week and it has been generating a turnover in excess of £50,000 per annum for both the first 2 years of trading. Gross profit for the last year was £26,000.The shop was opened in 2014 and is being offered to the market due to other work commitments. This is an excellent opportunity for a new owner to continue to build this business and to take it to the next level.Early viewings are highly recommended to avoid disappointment.Call Morgan Brookes today.
Company Profile
Johnston Watches of Leigh opened in August 2014 in a prominent location in Leigh On Sea, being an independent family-owned business specialising in new, pro-owned and vintage watches and clocks, watch batteries and straps, watch and clock repairs and servicing. As the business has become established the owners have seen a definite increase in the proportion of business generated by watch & clock repairs and servicing.
The Premises
There are two main sales and display areas within the premises. With a bespoke service counter, electronic cash register, credit/debit card payment facilities and CCTV monitors. Original large glazed windows to the front. Bespoke display areas in shop windows.Bespoke display cabinets through out the shop. Remotely controlled security shutters to the front. Additional internal security shutters. Wood effect flooring. Doors leading to Storage area (with large safe and shelving) and communal room with kitchen and toilet.
Lease Information
There is a new three year lease available from July 2016 with a 18 month break clause. The rent is agreed at £7,840 per annum. Service charge is set at £4,800 per annum. The service charge includes electricity, water, sewerage & business rates.
Trading Accounts
We have detailed Profit and Loss Accounts available upon request. Briefly detailed for there first year of trading (2014) the company turned over approximately £50,000 with a gross profit of £22,000. In 2015 the company increased its turn over to £53,000 with a gross profit of £26,000.
Moving Forward
The current owners both have other full time work commitments and have found it increasingly difficult to devote the time to move the business forward. A new owner could greatly increase the shops prominence with the right marketing and advertising. Whilst the shop has a website, this has plenty of scope for improvement and for adding an online ordering facility, in addition to taking the right steps to vastly improve the shop's online profile. There is also approximately £10,000 worth of stock available at separate negotiation.
Property Features :
- Independent Watch & Clock Shop.
- Positioned in a Prominent Location in Leigh On Sea.
- Specializing In Watch & Cloak Sales, Repairs & Servicing.
- While-You-Wait Service for Batteries & Straps.
- Turnover in Excess Of £53,000 Per Annum.