Hilton Smythe welcomes to the market Energy Place (Fires & Fireplaces), which was established by our client, who is looking to retire, around 20 years ago and is the only fire and fireplace centre located in the London Borough of Enfield.
The business sells and fits fires and surrounds, the range includes gas and electric fires, wood burners, biofuel burners, gel fires and all surrounds.
The business does have 5* reviews on Google but does not have any social media sites or a website and has been trading off word of mouth advertising since its inception.
Therefore, there is scope for development by considering:
- Creation of social media pages to promote the business
- Creation of a website to promote the business
- Utilise the showroom space further to create displays to enhance sales
There are many reasons to buy Energy Place including:
- Large prospective customer base
- Affluent local area
- Only fire and fireplace specialists in London Borough of Enfield
Hilton Smythe highly advise early viewing to avoid disappointment.Location
Energy Place (Fires & Fireplaces) is located in the affluent area of Bush Hill Park, Enfield, Middlesex on a shopping road surrounded by a mix of other local shops which bring a good footfall in from the highly populated local area and for the train station that is approximately 100m away.
The business has distinctive signage to the front and enjoys free parking directly outside.
Bush Hill Park is set within the London Borough of Enfield and the store is the only one of its kind that is set within the borough, therefore serving the local community, the Borough of Enfield and other surrounding postcodes.
The London Borough of Enfield is believed to have a population of circa 328,400 as per a 2015 report.
Bush Hill Park Station leads to London Liverpool Street and the area is well connected by road as the main A10 is around half a mile away and leads to central London and out to the M25 and beyond.Premises
The premises underwent a refurbishment in 2016, which included, new flooring throughout, new electrics and new staff kitchen and toilet facilities.
The showroom is entered from the front directly off the main road. There are several free-standing displays. This leads to a further area with flues in place for working fires, burners etc.
Off this area is the office space with computer system, card machine, phone and kitchen and toilet facilities off.
To the rear of the shop is a further showroom area.
The premises have a CCTV system.Tenure
We are advised the business is being sold as a leasehold business opportunity with a new lease to be written by our client who is the landlord. The annual rent is to be set at £18,000.
Our client informs us that they do not pay business rates.Hours
Monday - Thursday: 10am – 5pm Summer & 9am – 6pm Winter
Saturday: 10am – 5pm Summer & 9am – 6pm Winter
There will be no restrictions on the lease regarding opening times and our client closes Fridays due to religious grounds.Staff
The business is run and managed by our client, with the help of a member of staff in the shop. There is also a team of sub contracted fitters.Financial Profile
Energy Place generates an advised turnover of circa £150,000 a year with a net profit of circa £60,000. However, as the current owner is the landlord, no rent is paid, therefore, the adjusted net profit for the new buyer will be in the region of £40,000 continuing the same basis as our client.