Featured Brokers
CONFIDENTIAL SALE
FOR SALE
24/11/22
504233
AO067 / Rightbiz
Ref: AO067
OFFERS INVITED OVER £1.5M
INCL SAV OF £700,000
SOPHISTICATED FULLY FUNCTIONAL WEBSITE
INTEGRATED PAYMENT SYSTEM
INTEGRATED STOCK CONTROL SYSTEM
PROVEN BUSINESS MODEL
REPEAT CUSTOMERS
SUPERB PLATFORM FOR GROWTH
THE BUSINESS:
The Devout (www.thedevout.co.uk) is an entirely new concept in the online retail fashion market. Rather than selling clothes, it rents them on a repeat subscription basis. Subscribers to the service pay a monthly fee and in return receive each month a package of the clothes they have chosen from the website. At the end of the month, the clothes are returned, laundered, pressed and ready for their next rental. The subscriber meanwhile enjoys a fresh wardrobe every month for no capital outlay.
The website is highly functional, easily navigable and completely integrated to stock-picking, deliveries, payments and returns.
Some £500,000 has been spent on developing this highly sophisticated software ERP.
A new feature for subscribers to buy their clothes at discounted rates at the end of the month has just been created.
FINANCIALS:
The business is currently carrying approximately £700,000 of stock. Stock turn rates are running at 65% per month. More stock would produce greater rates, higher sales and more subscribers.
Sales are running at c£32,000 per month (incl. VAT) with net operating margins of c20%. The subscription base is increasing month on month and the average monthly customer spend is £55 per month.
INTELLECTUAL PROPERTY
The website, functionality and operational software of the business is a proprietary system. The business fully owns the IP to the software that is has built internally that runs the front-end consumer site, dispatch and laundry process.
There would be the opportunity for new owners to licence the software to other retailers as is commonplace in this sector.
PREMISES:
The business operates from leased warehouse premises where the laundry and dry cleaning facilities are also based.
EMPLOYEES:
The company currently has 6 FTE (1 customer service, 1 marketing, 2 warehouse, 1 developer, 1 stock assistant).
OPPORTUNITY:
The business is a fantastic opportunity for a large retailer to create a new route to market and generate multiple returns from its existing or redundant stock.
This is a turnkey operation, which can either be licensed to multiple operators or sold in its entirety.
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Do not share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
Get Solicitor
The data showed regarding this advert 'ONLINE FASHION RENTAL BUSINESS FOR SALE - AO067 / Rightbiz' comprises as a business advertisement. Rightbiz Ltd makes no warranty as to the accuracy or to the completeness of the advertisement or any linked or any associated information provided. In no event shall Rightbiz Ltd be liable for any damages or loss whatsoever including special, indirect, consequential, incidental or punitive damages for loss of profits and revenue, arising out of or connected with this website or to the use, reliance upon or performance of any information contained in or accessed from this website.