BizSales Business Brokers - Sale of Video City Chain of Video Stores
January 25 2008 -In a £1.6million deal, Video City, the highly lucrative chain of Northern Ireland DVD Rental/Ice Cream and Tanning businesses was today been put up for sale.
BizSalesNI.com the NI based Business Broker has been instructed by the founder to dispose of 17 of the chain of 24 stores.
The chain of outlets with stores all over the province was established in 1995 by Ballymena man and industry veteran Ivan McCombe, ex MD of Extravision. Mr Mr Comb had embarked on a multi-million re-branding programme earlier this year, when he suffered a heart attack which has forced him to reconsider his workload. The decision has now been made to down-size the company by selling off most of the stores.
Despite being called Video city, less than 30% of the stores revenue is generated from this medium. The main income and profit in the stores comes from exclusive sales of Maud’s Ice Cream, as well as tanning, and of late internet stations, sales of which are growing weekly.
For new owners, on-going marketing, purchasing & management support from the Video City head office in Ballymena will be available for an indefinite period, if required. Most stores would be suitable for conversion to the new proven Movies & Mochas (Belmont Rd, Belfast) or Oscars (Holywood) business model to include the lucrative Ice Cream & Coffee Shop system. The company will also offer optional support packages and help with any additions / changes any new owners may want to adapt.
Mr Martin Crilly, Senior Broker with BizSalesNI.com stated “Rarely do we see such a well established and lucrative buy come on the NI market. Each store provides a proven business model that has worked well and has massive future potential. “
“Things are moving fast however” Said Mr Crilly “Already I expect several of the stores to be under offer before the weekend, and several others are interested in purchasing the complete chain. Don’t hang around or this opportunity will be gone.”
More details on each of the stores are available at www.BizSalesNI.com, www.BizSales.ie or www.BizSalesIreland.com. If having conducted a mystery shop in each of the shops you feel you could run this type of visit, then please contact the Broker on email@example.com
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