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BUSINESS REFERENCE : AC074 / RightBiz AC074-BERKSHIRE-£285,000 -MODERN & STYLISH ITALIAN RESTAURANT & PIANO BAR | | | | | | Modern & Stylish Italian Restaurant & Piano Bar Very well sited near well known and wealthy residential areas and commercial centres Ref no: AC074 Confidentially offered for sale Location: Berkshire Asking price £285,000 | | | BUSINESS LOCATION: | Undisclosed Berkshire UNITED KINGDOM | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Restaurants | | SALE: | Agent Sale | LEASEHOLD: | £285000 | | | | | | | | | | | BUSINESS DETAILS: | This popular and busy contemporary Italian restaurant was founded 6 years ago by the Vendor with a generous combination of innovative insight and entrepreneurial spirit and has grown since to become a well known and respected enterprise with a reputation for the quality of its excellent, contemporary menu, wine selection, stylish environment and the successful combination of elegant and discreet dining or entertaining with one of the easiest to get to locations and more than adequate parking.
The restaurant has a loyal following, in summer diners make the most of its outdoor seating. In winter, it is equally as popular thanks to its excellent menu, quality of food and service. It remains one of the most authentic and romantic Italian restaurants in the region.
It is renowned for its fine cuisine and service it is situated in a highly accessible area and has easy access from Ascot, Windsor, Sunningdale and Virginia Water and provides an extensive and modern menu comprising of a variety of fresh fish, the best quality ingredients and unique pasta varieties.
The restaurant has enjoyed excellent revenues from catering for parties and other special events such as launches, making full use of its assets, the bar and terrace, with its remarkable views.
This successful business offers customers an opportunity to spend time enjoying a high quality lunch or evening meal in a relaxed and stylish atmosphere, from a comprehensive menu prepared to the highest standards by the restaurant’s highly regarded Chef and accompanied by the highest quality wines ranging from the rare and expensive to the best value for money.
This business has at this time significant scope for growth and an increase in revenues. This can be achieved for example by taking advantage of the current volume of custom that can be marketed to more aggressively since it is the belief of the vendor that this restaurant has only had the surface of its potential scratched.
The business is further supported by exemplary relations with key suppliers who have helped to ensure that customer service and product quality is never compromised and that customers receive the highest possible quality of service, this has lead to the existing high levels of return custom. This commitment to suppliers and customers has underpinned this business’s abilities in service quality and sustained business success.
Customer Service
The business considers simply that happy customers come back and on that simple basis has maintained levels of product and service quality intended to best guarantee that happiness. The results of this commitment are evident in the degree of return custom and the reach of its reputation.
Key strengths
The business is an organisation where the business owner has, over time developed and nurtured a reputation capable of drawing repeat custom and generating new customers. This has resulted in customer relations founded on a history of trading satisfaction and not contingent upon the presence of the vendor.
The business is well established with a strong, growing customer base managed by a comprehensive and sophisticated blend of management expertise and technology. The business retains a high level of repeat business, particularly among a number of customers returning on a regular basis and having done since opening.
The company has earned an outstanding reputation for its food quality, service, reliability, sophisticated and stylish atmosphere, value for money and experienced staff.
The quality of the location cannot be overstated since it is a key differentiator in the marketplace and a considerable asset, it is also responsible for the high visibility and the attending passing custom bringing unique first time visits on a regular basis.
Premises
The welcoming, comfortable and contemporary restaurant and piano bar currently occupies approximately 4,000 square feet in total with the restaurant occupying approximately 2,500 square feet, the bar area approximately 400 square feet and the kitchen and staff areas occupying the rest of the area. The restaurant has the benefit of significant main road frontage, which has recently had the addition of a covered, decked area for outside restaurant seating to accommodate approx 100 covers. There is visible signage and a discrete parking area foir customers giving easy and inviting entry to this stylish and successful restaurant & bar.
5 years remain on a lease with rent payable at £41,000 per annum and rates payable of £5,800 per annum.
Included in the premises is a first floor apartment of circa 2,000 square feet with 3x double rooms and 1x single and benefits from a full kitchen and toilet & bathroom facilities.
Growth and Expansion
The current market for this business is growing and is forecast in the near and longer term for significant growth. The business is well positioned to take maximum advantage of any growth as it occurs.
Key opportunities
This is an outstanding opportunity to build on the existing business services and customer base of this company and also to add new services such as outside catering. With a strong demand for its combination of environment, menu quality, menu and wine bar together with a capacity to increase turnover, a new owner contributing fresh ideas will have every advantage of building on an excellent platform.
Technology
Extensive administrative and specific technical systems have been set up to provide the technology required for a modern and efficient business, including an EPOS system with Chip & Pin.
Advertising and marketing
The business has invested significantly and successfully in the establishment of a well known brand and used advertising only sparingly but has used printed promotional material and website and there are excellent opportunities to increase this activity and market the business more aggressively to significantly increase turnover.
A high proportion of the business's revenue has been due to its prominent position, excellent reputation for quality and service and strong word of mouth recommendation.
Employees
The business employs x staff in total including 1 manager, head waitress, 2 part time waitresses and 2 waiters, 1 head chef and a commis chef, who together with the vendor and reliable part time staff are responsible for the day to day operations.
Reason for sale
The vendor has a background of successfully launching bars and restaurants of this type, this is the first divestment made by the vendor since it is now the intention to follow new areas of business interest.
Financial Information
The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.
The business is financially stable with low overheads, positive cash flow, enjoys strong forward bookings, and has shown consistent growth in 6 years’ trading.
Current turnover is circa £360,000 per annum with a gross profit of circa £160,000 annually.
Sales revenue is very well consolidated and growing, the Vendor believes strongly in the potential of this business to continue to deliver significant profits and with investment in sales and marketing and the increase in market demand the business could dramatically increase its revenues.
Support and training
The current owner will provide all necessary training and all relevant contacts to allow continuity of trading | | | | | BUSINESS STATUS: | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | AC074 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
