Dc2120 Very Profitable Coffee Shop/restaurant In Tavistock | | Tavistock Devon | | HIGHLIGHTS: LONG ESTABLISHED AND BUSY COFFEE SHOP/RESTAURANT - Tavistock HIGH GROSS MARGIN AND BOTTOM LINE PROFITABILITY VERY DESIRABLE HIGH STREET POSITION WEALTHY CATCHMENT WITH HIGH % OF RETIRED PEOPLE IDEAL BUSINESS FOR A COMMITTED COUPLE | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 58817
ADVERT IMPRESSIONS : 13,212 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Cafes | | SALE: | Agent Sale | LEASEHOLD: | £77,500 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | LOCATION:
Tavistock is regarded as one of the best market towns in England having won the coveted national award in 2004. Set in the centre of a wealthy catchment area on the South West corner of the Dartmoor National Park it has seen significant development in recent years and benefits from a full range of services including both public and private schools with excellent reputations.
The buoyant local economy ensures that empty commercial premises are rarely available and the town remains the envy of many others in the West Country.
BUSINESS:
This traditional licensed coffee shop/restaurant has maintained its appeal with its clientele by delivering high quality fare made on the premises using fresh local produce. Underlying profitability is very strong by comparison with many other such businesses through a real focus upon margins and by offering excellent value across a popular menu.
The restaurant menu includes a hearty English breakfast, sandwiches, toasties and baguettes, soups, ploughmans lunches and other hot snacks, main meals and Sunday lunches including a range of daily specials. An attractive range of cakes and biscuits are always on offer as are cream teas, which remain very popular. A wide selection of coffees, teas and hot and cold beverages and milk shakes are available.
The table licence, which also covers the 4 external covers, means that the business is able to offer wine by the glass and a selection of bottled and canned beers and lagers to supplement the attractive menu. This also means that it is more than feasible to trade on into the evening by offering a bistro type menu if desirable.
YEARS ESTABLISHED:
The business has been established on this site for more than 20 years and was acquired by the current owner in 2004. There used to be another cafι in the immediately adjacent unit but this was sold in 2007/8 to make way for a Costa Coffee outlet. The result has been that lunchtime trade has increased since the changeover.
TRADE:
Please note that if a business is VAT registered, all figures exclude VAT.
Sales of £123,193 were reported for the year ended 31/3/11 (£132,639 - 31/3/10).
NET PROFIT:
After an adjustment is made to reflect wages savings (please see under 'Staff' below), an abridged profit of £32,873 is indicated for the year ended 31/3/11.
REASON FOR SALE:
The vendor operates a nearby guest house with his wife and also holds down another job. Accordingly they have decided to sell the coffee shop/restaurant to reduce the number of hours they are working.
STAFF:
The business is currently operated by the wife of the vendor with the assistance of 9 part-time staff working a combination of hours. Of these, 4 staff cover Monday to Friday hours with the rest assisting at weekends. A senior staff member is fully capable of deputising for extended periods if required. We understand that the weekly wage bill (excluding the vendors wife) stands at c £600 but we believe that were the business to be operated by a couple both prepared to work in the business it would be possible to reduce this figure to c £400 pw on the basis of current opening times.
OPENING HOURS:
Monday to Friday: 9.00am to 4.00pm
Saturday: 9.00am to 5.00pm
Sunday: 10.00am to 3.00pm
The vendor advises that they have, on occasions, remained open into the evening during the summer with good results.
BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
The premises occupy the ground floor of a terraced period property laid out over two floors under a pitched and tiled roof. Toilet facilities are accessed via stairs to a half landing to the rear of the property, the first floor space being connected to the neighbouring property and not accessible through the coffee shop/restaurant.
The shop frontage is enhanced by a wide pavement allowing 4 external covers to be accommodated comfortably (2 x painted wrought iron tables with matching seating). The display window of 7 glazed panels set in a wooden frame is enhanced by an attractive sun canopy. To the left side a wooden front door, two thirds glazed with 8 small panes, is set back slightly from the street and surrounded by an attractive feature portico. The overall impression is welcoming, the feature window being dressed internally with a low level curtain net and matching full length net drapes to the side.
The front door opens into:
Main Dining Area (7.2m x 5.8m max):
Accommodating 34 covers as currently laid out
Wooden tables and chairs arranged to provide 2 and 4 covers
An open staircase with feature hardwood banister rail and dado rail rises to a half landing giving access to the toilet facilities
The dining area is fully carpeted with a painted artexed ceiling, wall lights and one feature suspended light fitting
Walls are wallpapered below a dado rail with painted textured wallpaper above to the height of the picture rail
To the rear of the dining space wooden double doors each with a small obscure glazed porthole give access to the kitchen (although these are not currently being used)
To the right hand side are 2 low level alcove storage cupboards with wooden louvre doors
To the left hand side immediately inside the front door is a low level wooden cupboard housing meters/fusebox
Also to the left stands a tall chiller unit used for the display of cakes
A passageway runs parallel to the stairs giving access to the rear of the premises. This has been fitted out to accommodate:
Casio electronic till and Rombouts coffee percolator standing on a wooden storage unit
Refrigerator
2 glass fronted bottle chillers with wooden shelving over
There is a useful under stairs storage cupboard
The passageway gives access to:
Preparation Area (2.4m x 2.0m approx)
Non-slip floor surface
Oak effect wall panelling and matching roll-edged work surface with matching cupboards below
Inset stainless steel sink unit
Wall shelving
LaSan Marco coffee machine
Coffee grinder
2 x Hamilton Beach milk shake machines
A two thirds glazed wooden back door and step down gives access to:
Small Rear Yard:
This small, but very useful, covered outside storage space is also accessible from the street through a lockable door opening into a shared passageway adjacent to the neighbouring shop premises. This is used principally for removal of waste. The concreted floor space currently accommodates:
2 x chest freezers
1 x tall upright freezer
1 x tall upright fridge/freezer
1 x tall upright fridge
Commercial waste bin
From the Preparation Area an open doorway gives access to:
Commercial Kitchen (4.6m x 2.7m widening to 3.5m in the doorway)
This good sized commercial kitchen facility benefits from a non-slip floor surface and wipe clean walls.
Large wooden window to side elevation overlooking rear storage area with high level wooden shelf over
Painted artexed ceiling with 3 fluorescent strip lights
Wooden double doors each with small obscure glazed portholes giving access to the dining area (not currently used)
Stainless steel double sink unit under window with single drainer to side and storage cupboard under
Range of wall and floor cupboards with work surfaces and additional open storage space below
6 burner range oven with extraction canopy over
Wall mounted Lincat grill
Buffalo twin deep fat fryer
4 x microwave ovens
Small chest freezer
2 small refrigerators
High level wooden shelf with Exocutor
Stainless steel vegetable washer unit used as a cold stand
Wall mounted ceramic wash hand basin
Small wooden window by doorway overlooking rear storage yard
WC Facilities:
The open staircase with feature banister rail in the main dining area rises to a half landing from which the toilet facilities are accessed. The stairs continue to a partition at first floor level which was erected many years ago when the first floor space was let to the neighbouring property. A half glazed wooden door with step up opens into:
Inner Lobby:
Carpeted
Wall mounted ceramic wash hand basin with mirror over
Doors to:
Ladies WC:
Wooden door
Obscure glazed wooden window to rear elevation
Carpeted
Low flush WC
Wall mounted ceramic wash hand basin
Wall mounted Britony combi gas boiler supplying hot water to the premises
Gents WC:
Narrow wooden door
Obscure glazed wooden window to rear elevation
Part panelled walls
Carpeted
Low flush WC
Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
PRIVATE ACCOMMODATION:
(all sizes are approximate & should be considered 'nominal'.)
None
OUTSIDE:
The rear of the premises is accessible from the main thoroughfare via a shared passageway adjacent to a neighbouring property. This allows waste bins to be stored pending collection.
LEASE TERMS:
We are advised that the premises are held under a full repairing lease for 10 years from the second half of 2004. Rent of £14,000 pa is currently payable. A rent review fell due in 2010 but was not pursued by the landlord. | | | | | | FOR SALE | | | | | REFERENCE: | DC2120 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
