Hilton Smythe welcomes to the market Frox Dress Hire & Sales Ltd.
The business was established by the current owners in 2011 and is reluctantly being sold only due to their wish to enjoy a well-earned retirement.
The business successfully hires and sells evening dresses for all tastes and ages for proms, balls, cruises. Since inception the owners have strived to meet each customers’ needs, giving one to one personal styling advice and by encouraging their clients to experiment, thus building a good customer relationship which in turn encourages their ladies to return for this personal approach. They also have exclusivity for Joseph Ribkoff, a very successful and popular Canadian brand, which has a huge following thereby creating destination shopping. All this in a very relaxed and informal environment.
The business sells designer dresses by Tony Bowls and Joseph Ribkoff and regularly introduces casual daywear and accessories by suppliers such as Luella, Park Lane Jewellery, Italian Moda Handbags, along with others and currently has over 300 gowns in stock for hire and sale.
The company has a good website and social media exposure including a Facebook page with 200 likes.
Scope for Improvement
Extend the opening hours
Advertising and marketing campaign
Maximise the use of social media
Update website perhaps including an e commerce facility
Review the current product range
Consider men’s hire
Stourbridge is a large town in the metropolitan borough of Dudley in the West Midlands. Historically part of Worcestershire, Stourbridge was a centre of glass making and today includes the suburbs of Amblecote, Lye, Norton, Oldswinford, Pedmore, Wollaston, Wollescote and Wordesley. The population was 63,298 at the 2011 census.
This great little business is perfectly situated in a main road position by a busy crossroads and as such benefits from good footfall and passing trade. The business is beautifully presented and maintained with distinctive signage.
Stourbridge has a railway station on the Birmingham to Kidderminster line with a frequent and efficient train service and the town is also served by the shortest (half mile) railway branch line in Europe, the Stourbridge Town Branch line with a shuttle service from Stourbridge Junction to Stourbridge Town Railway station in the town centre.
There is also a complex network of bus routes, both interurban and local.
Immaculately presented and maintained, the shop has a ‘high end’ feel. Window and half glazed door to front creating a light airy and inviting interior, lovely plush carpeting, raised window display area, LED feature spotlighting, perimeter hanging rails displaying the gowns to the best effect, period style free standing, lacquered desk with card machine and wrapping area, under stairs storage with built in shelf for till, comfy sofa customer seating, two generous changing booths, freestanding glass display cabinet. Mirrored alcove with bespoke shelving.
With stainless steel sink and drainer and useful cupboard beneath, space for fridge. Door to rear with two allocated parking spaces behind the shop.
A lovely and generously sized room, windows to front and perimeter hanging rails with shelving above, again presented in lovely order inviting the customer to stay and browse the beautiful gowns displayed.
We are advised Leasehold, a rolling lease is currently in place but we are advised that the landlord would be happy to negotiate an acceptable lease for a new owner.
The rent is £6000 per annum and no business rates are currently payable.
The business opens:-
Tuesday, Wednesday, Friday and Saturday 10.00am -3.00pm
Thursday 10.00am -1.00pm
The business is owner managed by the two owners.
The turnover of the business in 2016 was just under £50,000 approx with a gross profit of roughly £26,000 and an adjusted net profit of approximately £14,500
reasons to buy
Established business with an enviable reputation and many existing customers
Beautifully presented, maintained and fitted out making this a real Turnkey business
Minimal running costs with low rent and no business rates
A real opportunity to increase turnover significantly, current owners have been running at a pace to suit
Little or no competition locally
Current owners happy to offer a handover to ensure the continued success of the business
Ideal owner managed business, ideal for an inexperienced purchaser to take their first foray into self-employment.