Thriving Italian Restaurant Wallingford Oxfordshire (price Reduction) | | Wallingford Oxfordshire | | Phoenix Business Transfer Agents are delighted to place onto the market this thriving Italian Restaurant which has been established since 1980.The business has been in the hands of the current owners since 1990. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 42485
ADVERT IMPRESSIONS : 11,047 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Italian Restaurants | | SALE: | Agent Sale | LEASEHOLD: | £50000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | The particular highlights of the business are:
- The owner may be prepared to accept staggered payments for the business, enabling the buyer to pay from profits although a lump sum sale would be more favorably considered.
- Ideally located concern offering excellent lifestyle.
- A very well established business.
- Good loyal and affluent clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £200,000 with a net profit of £60,000. (See financial summary below). This is very impressive considering the credit crunch.
- A business with great potential which has not been exploited because the owners have other business interests.
- An easily run operation.
- Good loyal well trained staff.
- A very popular business with an exceptional reputation
History
Phoenix Business Transfer Agents are delighted to place onto the market this thriving Italian Restaurant which has been established since 1980. The business has been in the hands of the current owners since 1990 and they now wish to sell due to other business interests.
Services
This very good business opportunity provides quality Italian food in exceptional surroundings at good value prices.
Staffing
The concern employs 4 staff. 2 are full time and 2 are part time. The total wage bill is £30,000. Some staff may stay on after a sale.
Owners Role
The owners’ role is very hands on and he works full time.
Marketing
The owner markets the business in local magazines and has a website.
Competition
As far as competition is concerned there is one other Italian restaurant in the town but is not as well known.
Market
The client base consists of regulars which form 90% of revenue.
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Becoming more efficient with staffing levels.
• Sunday openings
• Alternative use during the day as for example a cafe
Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.
Property Details
The property is terraced and is part of a parade of shops and is approximately 30ft x 30 ft. The front is branded with an attractive glass front. The main customer service area is tiled and there is a bar to the rear. It is very well presented and is very conveniently laid out.
The restaurant has 20 covers. The customer service point is to the rear. There are customer toilets.
Equipment with sale
All fixtures and fittings and equipment are included in the sale price and are valued at £20,000.
First Floor
On the first floor there are 40 covers and a further 10 in another part of the restaurant. There is a bar and a fully equipped kitchen. There is also a separate preparation area and a wash up area.
Second Floor
On the second floor there is staff accommodation including 4 bedrooms and a kitchen.
Financial Details
The present turnover is £200,000 per annum with a gross profit of 65% and a net profit of £60,000. The wages are £30,000 pa. The present value of the stock is £500.
The potential turnover of the business within the next 2 years is forecast to reach £300,000 given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement. | | | | | | FOR SALE | | | | | REFERENCE: | 1517 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
