Hilton Smythe welcomes to the market The Wedding Collection. Established in 2002, our client has successfully been running the business since inception in 2007. The business genuinely comes to the market as our client looks towards a well-earned retirement.
The store is beautifully presented with a good range of stock, carefully selected for quality and design including bridal gowns, bridesmaid, evening and prom dresses. Men’s formal hire and full range of bridal accessories. With well- known brands including Romantica, Opulence, Pure Bridal, Phil Colins, Olivia Grace, Eternity and Venus.
In view of the length of time established, coupled with the reputation and gowns available customers are attracted from a wide catchment area to include towns from neighbouring Cornwall and Somerset.
Our client invested in a new comprehensive website in 2017 and has a presence on Facebook with over 1840 followers and excellent reviews. The business is also promoted by attendance at Wedding Fayres.
The Wedding collection is located in Barnstaple, North Devon.
Located in the secondary shopping area of Newport Road, approx. 1 mile from Barnstaple town centre.
Excellent signage on the front and side of the property.
Short stay parking close by and a public car park a few minutes’ walk away.
The area is host to numerous other independent businesses, including hair salons launderette, convenience stores, butchers, greengrocers and public house to name a few.
Popular tourist area with A361 North Devon Link Road and A39 Atlantic Highway nearby.
The area has good public transport links with regular bus service with a bus stop a minute away.
front of property Deceptive in appearance, extending to the rear a considerable length and also to the rear over 2 floors. Wooden framed glazed bay window double frontage, central glazed customer entrance door opening to bridesmaid/evening/prom wear retail area.
The area is fitted with hanging display rails, to either side, contains mannequins together with sofa and chair seating.
Ground floor Step up to fitting area, provides 2 changing rooms also 2 upright glass display cabinets. Inter-connects with main walk through accessory/footwear display area, fitted with base storage units and counters and slat boarding. Leading off is the kitchen, fitted with stainless steel sink, draining unit with hot water heater over and wall mounted storage cupboards and refrigerator.
The premises continues to the rear and the mens formal wear hire section, fitted with hanging rails and benefitting from own fitting room, leading off is a large storeroom. Cloakroom fitted with toilet and hand basin with hot water over.
First floor Attractive large, bridal gown gallery, carpeted, inset ceiling spot lights with additional fluorescent strip lighting, hanging display rails to the sides, 2 fitting rooms, large mirrors, 3 glazed wall mounted accessory display cabinets, seating and desk, the gallery is very private and proves popular with the brides.
External At first floor level, leading off the bridal gown gallery, enclosed balcony area.
Fire alarms, burglary alarms, electric heating on all floors
There is scope to develop a much needed service to the area of mother of bride outfits, also currently run at reduced hours by sole vendor, there is scope to offer evening appointments etc.
We are advised the business is being sold as a Leasehold business opportunity.
Original lease length: 15 years.
Remaining lease length: Years as of 2017. 5 years remaining, landlord has stated he will offer a new lease to purchaser if required.
Review period:3 years.
Rent: £10,800 per annum.
Business Rates Nil 10% rate relief
Flexibility of landlord to renew Very flexible
The business opening hours:
Monday: 10.00am to 4.30pm
Tuesday: 10.00am to 4.30pm
Thursday: 10.00am to 4.30pm
Friday: 10.00am to 4pm
Saturday: 10.00am to 5pm
In the past 2 years hours have been reduced to suit the pace of the owner
Most definitely could benefit from longer opening hours
The business is run and managed by our client, with the help of self- employed seamstresses in respect of alterations.
The Wedding Collection generated an advised turnover of circa £108.725 as of the 2015 accounts, with a gross profit of 46%.
Stock valued at circa £35,000.
Reasons to buy
The sale of The Wedding Collection provides an opportunity to acquire an established respected Bridal Outfitters benefitting from spacious premises enjoying low overheads coupled with lucrative bridal collections. Scope exists both with longer opening hours and to develop the business further through the introduction of Mother of the Bride, to ensure a smooth transition of the business to the new owners a comprehensive handover period is available if required.