Well Established Italian Restaurant Frimley Surrey Price Reduced | | Frimley Surrey | | Phoenix Business Transfer Agents are delighted to place onto the market this well run Italian restaurant which has been established since 2005. The business has been in the hands of the current owner since inception. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 53905
ADVERT IMPRESSIONS : 4,569 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Italian Restaurants | | SALE: | Agent Sale | ASKING PRICE: | £59,000 | LEASEHOLD: | £59,000 | ANNUAL RENT: | £23,500 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Location
- Situated in Frimley area of Surrey.
- Prominent location on main arterial road.
- Part of the town centre shopping area.
- Excellent parking facilities nearby.
- Industrial estates nearby.
- Surrounded by densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Area enjoying much growth and re generation.
- A lifestyle area.
- Excellent local demographics for this type of area.
Business Details
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £175,000 with a net profit of £67,000 (see financial summary below).
- A business with great potential which has not been exploited because the owner wishes to re locate.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a chef.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides authentic Italian food.
History
Phoenix Business Transfer Agents are delighted to place onto the market this well run Italian restaurant which has been established since 2005. The business has been in the hands of the current owner since inception and he now wishes to sell due to re location.
Services
This very good business opportunity provides authentic Italian food.
Staffing
The concern employs 2 full time and some casual staff. The wages are £600 per week.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
No marketing or promoting of the business has recently been undertaken as the business is well known.
Competition
As far as competition is concerned there is only one other Italian restaurant within 6 miles.
Market
The client base consists of regulars and professionals at lunchtime.
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings including local and internet advertising.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a 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 terraced and is part of a parade of shops and is approximately 25 ft x 60 ft. The front is branded with an attractive glass front. There is a canopy to the front. The main customer service area is tiled and has a real authentic feel and atmosphere. It is very well presented and is very conveniently laid out.
The restaurant has 50 covers. The bar is to the front. There are customer toilets.
To the rear is a store room. There is a toilet, staff facilities and a fully equipped kitchen.
First Floor
On the first floor there is a separate flat over 2 floors. There is a lounge, kitchen, and dining area.
Second Floor
On the second floor there are 3 bedrooms.
Equipment with sale
All fixtures, fittings and equipment are included in the sale price and are valued at £20,000.
Financial Details
The present annual turnover is £175,000 with a gross profit of 60% and a net profit of £67,000. The wages are £600 per week. The present value of the stock is £2,000.
The potential turnover of the business within the next 2 years is forecast to reach £300,000 pa 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
Monday to Saturday: 12.30 pm – 2.30 pm and 6.30 pm to 10.30 pm.
Sunday: 12.30 pm – 3.00 pm.
Tenure
The original length of the lease was 10 years with 10 years remaining. The rent is £23,500 pa with a review in 5 years. The lease may be renewable or negotiable for longer term if required. The rates are £4.500 pa.
Viewings
The owners are available for viewings at any time by prior arrangement.
Price: £89,950 (Price Reduced)
Ref: 1783 | | | | | | FOR SALE | | | | | REFERENCE: | 1783 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
