FOR SALE
02/05/23
512507
SMSB/VIOLIN / Rightbiz
A well established retailer of stringed instruments with an excellent reputation and strong customer base is being marketed for sale.
The predominant revenue stream is from the sale of instruments, but in addition the business also sells bows, cases, strings and other accessories and also has an instrument repair and restoration service.
Having operated from its current retail premises for over 15 years, it is well embedded in the local environment but also enjoys a strong reputation further afield, selling instruments both nationally and internationally. The freehold is owned separately by the vendors who will be happy to grant a new lease at market rate.
Currently in addition to one owner, who performs the MD role, there are two other employees.
The business delivered revenues of c £300k for the year ended Mar 2023 and is forecasting similar for the current year, delivering earnings before drawings for a single owner of c £55k.
There are significant growth opportunities including extending the range of instruments (eg guitar), developing a stronger online presence and developing a more pro active marketing strategy.
Having run the business for over 20 years, both owners are of retirement age and therefore seeking to transfer the business into new ownership. The guide price for 100% shares of the Company is £199,500 and the business will be transferred with a debt free cash free balance sheet with a significant stockholding contributing to a net asset value forecast at c £140k.
The vendors are keen to ensure a successful transition and will support any reasonable handover request.
The business is being marketed by www.SellMySmallBusiness.co.uk. Please do not attempt to contact the vendors direct.
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 SolicitorThe data showed regarding this advert 'Excellent Retailer of Stringed Instruments With a National & International Client Base - SMSB/VIOLIN / 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.