Freehold B&b, Hampshire | | Lee on Solent Hampshire | | Phoenix Business Transfer Agents are delighted to place onto the market this freehold B&B near Chichester which has been established since 2004. The business has been in the hands of the current owner since 2004. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 52126
ADVERT IMPRESSIONS : 14,809 TIME(S) | | | | BUSINESS SECTOR: | Hotels / Pubs / Accom | | TRADE TYPE: | Bed & Breakfast | | SALE: | Agent Sale | ASKING PRICE: | £555000 | FREEHOLD: | £555000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Location
- Situated in a seaside town on the South Coast near Chichester.
- Prominent location on main arterial road.
- Excellent free parking facilities.
- Surrounded by a well populated residential area with schools and other local amenities.
- Area offers exceptional lifestyle.
- Outstanding tourist trade.
- Well linked with the M27and M3.
Business Details
The particular highlights of the business are:
- Ideally located concern offering excellent lifestyle.
- A well established business.
- Good loyal clientele and a high level of repeat business with an average annual occupancy level of 75%.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £60,000 with a net profit of £36,000 (see financial summary below).
- A business with great potential which has not been fully exploited.
- An easily run operation.
- An excellent first time buyers business and investment opportunity for a husband and wife team looking for a life style change.
History
Phoenix Business Transfer Agents are delighted to place onto the market this freehold B&B near Chichester which has been established since 2004. The business has been in the hands of the current owner since 2004 and he now wishes to sell due to losing his business partner.
Services
This very good business opportunity provides a full B&B service with en suite accommodation and family rooms.
Staffing
The concern employs one member of staff who is part time. They are paid at the rate of £6.00 per hour. The total wage bill is £120 per week. The member of staff would be interested in staying on after a sale.
Owners Role
The owners role is hands on and he works seven days per week.
Marketing
The owner markets the business via a very well designed website.
Competition
As far as competition is concerned there are two other B&Bs listed in the immediate area.
Market
The client base consists of business guests, tourists, the Royal Navy, Norwegian Navy and people visiting retired family who live in the area.
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
Increasing the marketing activity with direct mailings.
Becoming more efficient with staffing levels.
Offer evening meals in the restaurant.
With an enhanced website.
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 a spacious detached house with accommodation for up to 12 guests.
In addition to an ETB diamond rating of 4, the B&B also boasts...
Double and twin rooms.
En suite or private facilities.
Tea/coffee making facilities.
Colour tv/dvd/vcr.
DVD library.
Hair Dryer.
Trouser Press.
Easy approach to the M27 giving further access to Portsmouth, Southampton, New Forest, Chichester and many more.
Beach and restaurant just 2 minutes away.
Full English Breakfast.
External
To the front there is free parking for up to 5 vehicles.
To the rear there is a nice garden with a patio and outdoor seating/dining area.
Equipment with sale
All fixtures and fittings and equipment except some personal items are included in the sale price and are valued at £5,000.
Financial Details
The present turnover is £63,000 per year with a gross profit of £60,000 and a net profit of £36,000. The wages are £120 per week. The present value of the stock is £200.
The potential turnover of the business within the next 2 years is forecast to reach £85,000 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.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.
Trading Hours
Seven days per week, check in after 4.00 pm, check out before 10.00 am.
Tenure
The business is Freehold and the rates are £1,800 per year for the commercial and domestic concerns combined.
Viewings
The owners are available for viewings at any time by prior arrangement.
Price: £550,000
Ref: 1739 | | | | | | FOR SALE | | | | | REFERENCE: | 1739 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
