SPARKS E-CIGARETTES LIMITED
Sparks E-Cigarettes is a top supplier of e-cigarettes and vaping products, both online and on the high street. In a growing new market, Sparks stock a vast range of established brands and e-liquids in a multitude of flavours. All tastes and levels of experience are catered for, with expert advice and insightful demonstrations on-hand from their knowledgable staff. With nine shops in south east England, they're now raising funds to open two further units in Oxford and Watford.
Leading the vaping revolution
We welcome first-time vapers and long-time enthusiasts alike. For beginners, our friendly and passionate staff provide insight and advice to ensure the right product is picked. Because of this, our rate of repeat custom is very high. Additionally, we've dedicated a blog section on our website to informing people about the health benefits of vaping over smoking, and are seen as a leading voice in the industry surge known as the 'vaping revolution'.
This growing sector provides an exciting business opportunity for us, and we have plans in place to further scale our success. We want to focus on strategic advertising and social media to increase online awareness of our brand. The importance of having a physical presence on the high street is also paramount: therefore, with the money raised in this campaign, we will open further locations. Our new Oxford branch needs the final finishing touches, and we've set our sights on a unit in Watford, both in busy areas that will attract heavy footfall.
A. Hi Adrian sorry for late reply!
The 300k debt is a mix of loans 3 - 5 year terms
Repayments 14k PM rate average 13%
A. Hi Adrian
We have 300k of term debt currently
A. Hi Alan
The admin base costs include the head office costs which will not increase until we are post 20+ units we also have stores that are not at full forecast turnover yet - hope this helps?
A. Hi Adam
This was a one off write off - stock relating back to 2017 Due to EU regulations some of our stock we were not longer able to sell so will not be repeated.
A. Approx £13,000
Oxford opened a week ago - Watford hopefully this summer?
A. Hi Jakob
The overall company YE Aug 19 accounts P&L will probably show a loss due to 2 main factors:
1 We have written off approx 176K of None TPD Complaint stock in this financial year.
2.We are absorbing start up losses from 3 new stores - Staines (Now breaking even) Romford and Oxford (Just opened)
The store only EBIT will be around 350K excluding head office costs
A. HI Ashley
The rise in admin/head office costs were due to the further expansion of the company following the opening of 5- 6th stores.
which included 2 full time warehouse staff. warehouse space which is above our Hemel Hempstead store. Improved IT systems for stock management and epos etc. We also have 2 full time area managers which form part of the head office costs. The companies current head office costs/function would not significantly increase until we were post 20 units.
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"Leading the vaping revolution"
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