Successful & Well Established Antiques Business

Business
Please quote reference B04905

CoGoGo welcomes to the market The Gold Exchange.

The Gold Exchange is a very successful and established business trading in antiques and Jewellery, with an average £2,000 scrap gold per week.

Current stock includes but not limited to:

• Clocks
• Figurines
• Jewellery
• Vintage posters
• War medals

The business has been trading since 2011 and due to the owner’s commitment and customer service they benefit from the majority of their business from local repeat customers and recommendations.

The Gold Exchange is currently being advertised on the local radio station which goes out 6 times a day, which has proved to be beneficial.

Scope to Improve

• New advertising and marketing campaign
• E-commerce website
• Maximise the use of social media
• Carry out Jewellery/watch repairs
• Rent out the basement
• Use online auction sites

CoGoGo highly advise early viewing to avoid disappointment.

Location
The Gold Exchange is located location along the High Street in Herne Bay, Kent

Herne Bay is a seaside town in Kent, with a population of 38,563. On the south coast of the Thames Estuary, it is 6 miles north of Canterbury and 4 miles east of Whitstable. It neighbors the ancient villages of Herne and Reculver and is part of the City of Canterbury local government district.

There is a pay and display car park behind the shop for customer to use.

Premises
The Gold Exchange is located on the ground floor and basement level of a mid-terrace 4 storey property.

Outside

Clear visible signage with full length display windows either side of the entrance,

Ground Floor

As you enter the shop you are greeted with display units either side of the shop displaying an array of antiques, figurines and Jewellery.

Two antique desks are to the rear of the shop which the owner uses as a desk/counter space.

There is a doorway to the rear right-hand side of the shop which leads to another room which is currently being used as an office area, to the left of this room is a small kitchen.

Basement

The Basement consists of a storage room and a strong room for more valuable items.

Equipment included in the sale of the business:

• 4 x CCTV
• Alarm System
• Desk
• Jewellery Cleaners
• Scales
• Display Cabinets

Tenure
The Gold Exchange is being offered a Leasehold business with 4 years remaining from the original 10-year Lease.

We are advised rent is £8,640 per annum with no rates currently payable.

Hours
Monday – Saturday: 9.00 am – 4.30 pm
Sunday: Closed

Staff
The business is currently run and managed by current owner.

Financial Profile
The Gold Exchange generated an advised:

Turnover – £228,674
Gross profit – £177,798
Net profit – £98,546
Assets – £5,000
SAV – £20,000

Please quote reference B04905