Independent Hardware Store & Post Office in Essex

Colchester, Colchester
REF: R08068

Asking Price:
£554,000
Annual Turnover:
£235,000
Annual Net Profit:
£40,431
REF: R08068

Overview

Tenure:
Freehold
Established:
2009
  • Excellent reputation and loyal customer base
  • Huge potential for growth
  • Spacious and well-equipped premises
  • Equipment included
  • Friendly, professional team
  • Wide variety of products

The business for sale is an independent hardware store and post office in Essex. This long-running business originally opened as a hardware shop in 2009 and has continued to grow steadily over the years, whilst gaining an excellent reputation and a loyal customer base in the local area. The post office has been on the premises for the last 5 years and has provided an additional salary of £2000-£5000 per month. This business prioritises providing a wide range of products and is happy to order items into store for their customers. The post office also offers a large variety of services, including sending parcels and letters, banking, and exchanging currencies. With their focus on excellent customer service, the business opens 7 days a week and has a friendly, professional team, consisting of 3 part-time members of staff.

The spacious and well-equipped premises even come with 2-bed accommodation above the store, which presents the buyer with living options or rental possibilities. The owners have recently spent £105k renovating the shop to a high standard. This hardware shop has a fantastic website and several established social media channels, with almost 1000 followers on Facebook and 500 followers on Instagram. This is a testament to the company’s brilliant online presence and excellent customer service. There is huge potential for growth with this business, as there is a massive opportunity to push online sales. This fantastic business would be perfect for a partnership opportunity, where one party looks after the post office and the other looks after the DIY store.

The business has an excellent high-street location in Earls Colne, with nearby car parking and proximity to other businesses, such as Boots and an estate agency company. The spacious and well-equipped premises have recently been refurbished, with the current owners spending £105k doing the property up. The property even has 2-bedroom accommodation above the shop, which could be perfect to either live in or rent out.

The post office offers a full range of services, including Royal Mail, Royal Mail Special Delivery, Parcelforce Express, bill paying, top-up meters, vehicle tax, foreign currencies, travel money cards, and MoneyGram.

All equipment is included in the business sale, meaning the new owner can get to work straight away.

The current owners are happy to stay for the initial transitional period following the business takeover.

This would be the perfect opportunity for someone who has experience running a post office, as well as working in DIY. Therefore, the business would be ideal for a partnership, where one person runs the post office and the other manages the DIY store.

There is huge potential for growth with this business, as there is a massive opportunity to push online sales. Renting out the 2-bed accommodation could also be a possibility to generate further revenue.

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  • Nearby car parking
  • City centre location
  • High footfall
  • Shopping centre location
  • Close to local businesses
  • High-street location
Rent
N/A
Rates
£0
Lease Term
N/A
Lease Expiry
N/A
Square Footage
TBC
Accommodation Included
Yes
Premises Licence
TBC
Property Value
£400,000
Planning
TBC
EPC
TBC

Annual Turnover
XXXX
Annual Net Profit
XXXX
Stock at Valuation
XXXX
Accounts
XXXX
Trading Entity
XXXX
Current Ownership
XXXX
Management Structure
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Number of Employees
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