Long Established And Superbly Located Newsagent In Watford | | Watford Hertfordshire | | Phoenix Business Transfer Agents are delighted to place onto the market this long established and superbly located newsagent in Watford which has been established for over 100 years. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 55546
ADVERT IMPRESSIONS : 8,961 TIME(S) | | | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Newsagents | | SALE: | Agent Sale | ASKING PRICE: | £395000 | FREEHOLD: | £395000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Location
- Situated in the St. Albans Road area of North Watford in Hertfordshire.
- Prominent location on main arterial road.
- A prominent corner location.
- Excellent free parking facilities for five vehicles behind the store.
- Industrial estates nearby.
- Surrounded by densely well populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- A commercially thriving area.
- Well linked with the A41, A412 and the M1.
- Central Watford, Rickmansworth, Bushey, Hemel Hempstead and St. Albans all lie close by.
- 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 very well established business (over 100 years).
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £150,000 with a net profit of £24,000 (see financial summary below).
- A business with great potential which has not been exploited because the shop floor area has not been extended to accommodate a larger store.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a national chain of newsagents/convenience stores.
- Very low overheads.
- Business enjoys superb local reputation.
- The concern provides confectionary, off license, soft drinks, hot coffee, newspapers (including 5 delivery rounds), magazines, greetings cards, ice creams, groceries, toiletries, stationary, party goods and pay zone.
History
Phoenix Business Transfer Agents are delighted to place onto the market this long established and superbly located newsagent in Watford which has been established for over 100 years. The business has been in the hands of the current owner since 2009 and he now wishes to sell due to other business interests.
Services
This very good business opportunity provides confectionary, off license, soft drinks, hot coffee, newspapers (including 5 delivery rounds), magazines, greetings cards, ice creams, groceries, toiletries, stationary, party goods and pay zone.
Staffing
The concern employs no staff and is a family run operation.
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 another similar business within a quarter of a mile away.
Market
The client base consists of local and passing trade.
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.
• Increasing the opening hours to include Sunday evening.
• Increasing the product line to include a wider range of wines.
• Becoming more efficient with staffing levels.
• With the introduction of a website and e-commerce.
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, parade of shops and is approximately 600 sq ft. The front is branded with an attractive glass front. There are electric shutters and a CCTV system. The main customer service area is tiled with a middle aisle, shelving and racking to the walls. It is very well presented and is very conveniently laid out.
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 spacious self contained 2 bedroom flat with, kitchen, living room, dining room and bathroom.
External
To the rear there is a garage (currently being used as a store room), small back yard and off road parking for up to five vehicles.
Equipment with sale
All fixtures, fittings and equipment are included in the sale price and are valued at £4,000.
Financial Details
The present annual turnover is £156,000 with a gross profit of 45% and a net profit of £24,000. The present value of the stock is £15,000.
The potential turnover of the business within the next 2 years is forecast to reach £185,000 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: 6.00 am to 10.00 pm.
Sunday: 6.00 am to 2.00 pm.
Tenure
The business is Freehold and the rates are £2,800 pa.
The business is also available as a leasehold concern with the ground floor business and accommodation which can be extended into at a price of £75,000. Please contact Phoenix Business Agents for more details.
Viewings
The owners are available for viewings at any time by prior arrangement.
Price: £395,000
Ref: 1836
Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller. | | | | | | FOR SALE | | | | | REFERENCE: | 1836 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
