We are currently marketing a knitting business in Penzance. Knits Wits is owned and run by Julia Hopson, who is a keen knitter herself and is being very hands on with the advertising.
Julia has spent 8 years building up the business, to what is now one of the foremost wool stockists in the South West. Now that her children are leaving home she feels the time is right to move on.
This presents an opportunity for someone to come in a take advantage of the recent renaissance in knitting, which has seen Knit Wits turnover increase year-on-year.
Business is booming in the wool industry. Shops and on-line companies are expanding as the owners ride the growing trends for vintage and homemade crafts. Take-up among the under 35s and the unemployed is driving the renaissance with yarn suppliers and shops reporting a rise in trade of 20% or more.
An interesting part of this trend is how the internet and social media have helped fuel the boom in knitting, and Knit Wits has supported this trend with a sophisticated website together with Julia's popular blog.
Julia says: "This is no sleepy yarn shop. Yes we have our long-established customers who have been coming here for years, but the market that's rapidly growing is the younger sector and internet sales. We are in a unique position here in Penzance as the traditional quiet knitting period over the summer, is one of our busiest with all the holidaymakers".
A popular wave of Knitting Clubs has paved the way for a makeover of the Women's Institutes and the growth of sewing cafes, with "guerrilla" craft nights staged in pubs. A quick click on Google reveals more than a dozen knitting groups in Cornwall.
Julia added. "Our young customers are amazed at what they can make. We have a strong on-line presence. More people are downloading patterns from the internet. And the wool has changed too. It's not your grandmother's ball of acrylic yarn anymore it's a ball of hand-dyed organic natural fibre luxury yarn that can sell for as much as £12 per 100g".
Graham Timmins, who is Head of our Business Transfer department, commented "The hand-knitted For Sale sign, which is up in the shop window, is working a treat and generating a lot of interest in the shop. We've told Julia in this case we'll waiver the usual sale board fees".
Knit Wits is on the market on either a leasehold or freehold basis.
Freehold £185,000 + SAV.
Leasehold off asking price of £25,000 ingoing premium + SAV and a commencing rental of £9,000 per annum exclusive.
For more information contact Richard Gilbert on 01872 247027
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