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B&Os Bath

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Chris Townsend
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Chris Townsend posted on Wed, Apr 15 2015 12:49 PM
Is it true they've just shut their doors, emptied their shelves and shut up for good?

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vikinger
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vikinger replied on Wed, Nov 29 2017 10:37 AM

moxxey:

Richard:

You have to ask yourself what it'd cost to start a new store and guess it'd be a similar number but you'd be starting from scratch and with no baton to pick up.

I'm not sure it would be more expensive than £400K + stock. Besides, would anyone with any due diligence setup a new Bath store based on 'success' of the previous two (and third if you include the current, which is up for sale). 

Of course, there are owners who can make it work, but I guess it depends on the area, too. Bath is all about the position of the store. The previous store owner wanted to find a location outside of Bath at one point, on the outskirts, to save on rent and to be able to serve the store with the vans required for home installation. The current store is in a very odd position, in my opinion, as almost no-one walks past it, so footfall is low, even for the relevant target market (I live next to the Crescent, off Brock Street, but rarely walk past the store).

From B&O's website invitation to join them as a retailer;

(From recollection they used to ask £300K min)

BANG & OLUFSEN RETAIL MODEL & OPTIONS

We want our potential retail partners to understand what’s expected of them—and what they can expect in return. If you’re serious about opening a store, we can find the right opportunity for you.

Bang & Olufsen Brand Stores
Ideal for major cities and key retail destinations, the Bang & OlufsenBrand stores offer the full product portfolio. And with our new Sensory store concept, customers can immerse themselves in the full brand experience.

Initial investment: €225,000 to €375,000 Expected return: 3-5 years
Shop-in-Shop
Shop-in-Shops are best suited to locations within retail spaces with complementary product offerings, such as kitchen or furniture showrooms, or within larger format AV stores selling a broad range of audio and visual products.

Initial investment: €50,000 to €80,000 Expected return: 2-3 years
9 LEE
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9 LEE replied on Wed, Nov 29 2017 10:46 AM

Thank you for the reply Richard, which is in line with my thoughts (apart from the valuation).

Perhaps the reaction to your post was because many people on this forum are long-time followers (and buyers) of B&O, who (as already pointed out) have been watching the B&O franchises slowly go bust, one by one, over the last 5-8 years and see buying a store as a ludicrous thought.

When an agent values a business, they do it on past turnover. What else can they do?  I think what we're talking about is the valuation based on future turnover, of B&O products alone.

The clever B&O dealers are the ones doing big installs, combining B&O with other brands.  Simply standing proudly at the front of your B&O store and ignoring the competition is financial suicide.  I understand Cardiff and Bath are pretty tech-savvy, so maybe this has aided their figures?

Either way, I wish all B&O Dealers the very best.  Anyone who has either hung on, or prospered in the last 3 years is clearly very astute.

Lee

9 LEE
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9 LEE replied on Wed, Nov 29 2017 10:53 AM

vikinger:

Shop-in-Shops are best suited to locations within retail spaces with complementary product offerings, such as kitchen or furniture showrooms, or within larger format AV stores selling a broad range of audio and visual products.

Initial investment: €50,000 to €80,000 Expected return: 2-3 years

.... and if they'd kept 'shop-in-shops' instead of being incredibly arrogant in the good times and demanding 'B1 or Nothing' from their large array of outlets, the brand awareness wouldn't be in the mess it is now.  

So many more people would still be familiar with the brand, but a B1 store simply frightened the 'browsers' away. How many people have I heard say "Ha! I could never afford to go in a B&O store. I'm not rich!" and so on.

You need browsers to get the name known, keep it being talked about, keep it on people's brand-radar, and when B&O is next to the mass-market offerings you can actually see and compare the craftsmanship.  

Lee

 

moxxey
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moxxey replied on Wed, Nov 29 2017 11:05 AM

vikinger:

Bang & Olufsen Brand Stores

Initial investment: €225,000 to €375,000 Expected return: 3-5 years

And I'm assuming those figures include the initial demo stock, too? If B&O Bath are asking €450K + stock costs (£50K+?), then this is a serious amount of money. ie. you'd have to be absolutely sure, as a new owner, you could make the store make a healthy profit to see a return on that investment, going forward.

moxxey
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moxxey replied on Wed, Nov 29 2017 11:08 AM

Not sure what's happened to the forum formatting above?

tournedos
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moxxey:

Not sure what's happened to the forum formatting above?

Cut & paste of some partial HTML leaving a tag or two open.

--mika

moxxey
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moxxey replied on Wed, Nov 29 2017 11:34 AM

tournedos:

moxxey:

Not sure what's happened to the forum formatting above?

Cut & paste of some partial HTML leaving a tag or two open.

Removed a chunk of rogue <div> - looks fine now, bar the improved larger font Thumbs Up

moxxey
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moxxey replied on Sun, Jun 3 2018 10:45 AM

Well, this doesn't look good! Need to get closer to the sign (one of which is hanging off the window), but looks like B&O Bath has closed down!

Says they have moved, but I'd assume this is to the Cardiff store. I'll walk past later.

Sandyb
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Sandyb replied on Sun, Jun 3 2018 11:07 AM

The (UK) high street is not a pretty place at the moment...not that this helps B&O franchises, but lots of businesses are struggling to make the high street work.  

Coffee shops and cafe's seem to be the only format left that works.

moxxey
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moxxey replied on Sun, Jun 3 2018 12:05 PM

Yep, it’s “moved” by consolidating with the Cardiff store - so, no Bath B&O store. Again.

Managed to walk past on way in to town.

Puncher
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I wonder if Richard swings by to enlighten us thickies again!

Ban boring signatures!

vikinger
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Puncher:

I wonder if Richard swings by to enlighten us thickies again!

Richard has become Ricardo and has removed his avatar and posts...... but fortunately most live on in the response quotes!

Didn't he turn out to be a business studies lecturer? 

Graham

Puncher
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vikinger:

Puncher:

I wonder if Richard swings by to enlighten us thickies again!

Richard has become Ricardo and has removed his avatar and posts...... but fortunately most live on in the response quotes!

Didn't he turn out to be a business studies lecturer? 

Graham

Meh - it was his arrogant, "I know better than all of you folk" attitude that I remember.

Ban boring signatures!

Jeff
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Jeff replied on Sun, Jun 3 2018 9:31 PM

moxxey:

Yep, it’s “moved” by consolidating with the Cardiff store - so, no Bath B&O store. Again.

Managed to walk past on way in to town.

I blame Torchwood.

Jeff

I'm afraid I'm recovering from the BeoVirus. Sad

vikinger
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Here he is (unless he was impersonating someone else with his avatar)!

https://www.uclan.ac.uk/staff_profiles/dr_richard_weston.php

Graham

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