Robson Kay Associates Ltd are instructed to invite offers for the total business assets of an end-to-end prescription eyewear online retailer.
The business is based in the northwest of England, where approximately 25 staff are currently employed.
It cuts lenses in-house, using two 2014 Meisystem Bisphera Double R-XDD lens-cutting machines, and sells both its own brand of frames and designer frames. Since commencing trade, approximately two and a half years ago, the business has built up a database of 100,000 customers, with an excellent returning customer rate of 29 percent.
The business has a Trustpilot rating of 4.6 out of 5, indicating high levels of customer satisfaction and low levels of customer returns, which are currently estimated to be running at 2 to 3 percent.
Business assets include the domain name and website, a customer database, lens-cutting machinery, a very large stock of frames and chattel assets, which include office furniture/equipment, racking and more. The business owns a relatively small stock of lens blanks.
Revenue is forecast to be £3.7 million in 2022, compared with £2.7 million in 2020. However, the company is currently losing money – primarily, it is thought, from the cost of customer acquisition.
The company is expected to enter into administration, and Robson Kay are instructed to invite bids for the company’s business assets. Whilst we would favour bids for the assets in their totality, and particularly bids that involve staying at the premises and taking on the existing staff, we are also open to bids for just the intangible and/or intangible assets (brand name, domain name, website and customer database) together with some physical assets, such as the frame stock.
This opportunity would therefore suit a variety of different purchasers, including those who wish to expand their existing online presence without buying any of the physical assets, online prescription eyewear businesses that currently have no in-house lens cutting facilities, businesses based outside the U.K. that wish to expand their operations in the country, and so forth.
Time is of the essence, and we hope to conclude a sale by very early January 2022.
Please contact Jonathan Kay at email@example.com or +44 161 998 8111 for further information. Please note that, whilst Robson Kay’s offices are closed between Christmas and New Year, Jonathan Kay will have access to his emails throughout the period and will be responding as necessary.