In-depth description of your business
Wigtwo Footwear Ltd provides a professional shoe fitting and sales of high end childrens and ladies shoe brands, toys and bags. The core ranges include Froddo, Ricosta, Bobux, Bogs, Merrell, Skechers, Josef Seibel, Ecco, sustainable Roka bags and Lanka Kade toys.
This is a well established award winning business that is highly rated with an amazing reputation. It comes with a large loyal customer base and will offer any new owner good margins, low overheads, low rent and no business rates.
There is free parking, the business is located on a bus route and is situated very close to Durham city centre, minutes away from the Arnison centre and new retail park. Furthermore, its surrounded by schools and nurseries.
Included in the sale is an active Facebook, Instagram and Google Business pages, plus a Facebook outlet group. One of the best selling points for this business is the fact that it has no direct competition. The opportunity for any new owner to build on the possibility for expansion is very clear to see with this business.
The business, should a new buyer wish to do so, can be relocated. The business has been very successful in its 9 years of operation and the demand for its service has been growing exponentially, with numerous new and old customers. Last years annual turnover unfortunately reflects the heavily reduced hours and closures caused by the owners sons health issues.
In addition, the business is up for sale as an ongoing concern, fully fitted and with sufficient amount of stock. Initial training and support by the current owner during the transitional period included in the cost with possibility of staying on in an advisory role by separate negotiation.
The current owner is looking to sell to a buyer with interest in growing the business further.
Key features of this business:
- Excellent reputation;
- Equipment and stock to be included;
- Huge growth potential;
- Variety of products;
- Low overheads
Key business information:
- Loyal custom base;
- Excellent reputation;
- High growth potential
Key Location Features:
- On-site car parking;
- Close to local businesses;
- Close to schools and nurseries
- Good transport links
- Limited competition
Potential Growth Opportunities:
The business could be further expanded into more ladies brands, into men’s footwear and have an online presence. It would also benefit from extending the opening hours (we are currently open 5/6 days a week and operating on an average 25-30 hours a week). The pandemic caused several local footwear retailers to close (Scorpio, Hotter, Jones and Andersons) which has left the owners business and Clarks in Durham.
Most similar shops sell online which generally makes between 10-30% of their total TO.
Vendor open to a transition period: Yes
Business sector type: Textiles, Clothing, Leather, footwear
Company accounts available: Yes
Management structure for business: Run by owner
Stock value: TBC
Business Sale Asking Price: £65,000
