Well Established Newsagent In Glen Prava Leicester | | Glen Parva Leicestershire | | Phoenix Business Transfer Agents are delighted to place onto the market this Well Established Newsagent which has been established since 1960. The business has been in the hands of the current owner since 2007. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 58859
ADVERT IMPRESSIONS : 5,867 TIME(S) | | | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Newsagents | | SALE: | Agent Sale | ASKING PRICE: | £400000 | LEASEHOLD: | £400000 | ANNUAL RENT: | £18000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Location
- Situated in the Glen Prava area of Leicester.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent parking free facilities.
- Surrounded by well populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
Business Details
The particular highlights of the business are:
- Exceptional high turnover for this type of business.
- A well established business.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £800,000 with a net profit of £237,000 (see financial summary below).
- A business with great potential which has not been exploited by the present owner.
- An easily run operation.
- Low rent and rates for the area.
- Very low overheads.
- A niche concern with no competition.
- Business enjoys superb local reputation.
History
Phoenix Business Transfer Agents are delighted to place onto the market this Well Established Newsagent which has been established since 1960. The business has been in the hands of the current owner since 2007 and now wishes to sell due to moving into other business interests.
Services
This very good business opportunity provides a newsagent, lottery, gift cards, gift wrapping and cigarettes.
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
There is no local competition.
Market
The client base consists of local residents, passing trade and local industrial estates.
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 late evenings and Sundays.
• Increasing the product line to include dairy products and extend the grocery section.
• 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 semi-detached, part of a parade of shops and is approximately 45 ft by 40 ft. The front is branded with an attractive glass front. There are manual shutters and a CCTV system. The main customer service area is tiled with 2 aisles, shelving and racking to the walls. It is very well presented and very conveniently laid out.
To the rear is a store room. There is a toilet, staff facilities and a fully equipped kitchen.
EXTERNAL
To the front there is ample off road parking.
To the rear is a loading area.
EQUIPMENT WITH SALE
All fixtures, fittings and equipment are included in the sale price and are valued at £3,000.
FINANCIAL DETAILS
The present annual turnover is £880,000 with a gross profit of 45% and a net profit of £237,000. The present value of the stock is £25,000.
The potential turnover of the business within the next 2 years is forecast to reach £1,760,000 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
Monday to Wednesday: 5.30 am - 7.00 pm.
Thursday to Saturday: 5.30 am - 7.30 pm.
Sunday: 5.30 am - 2.00 pm.
TENURE
The original length of the lease was 25 years with 5 years remaining. The rent is £18,000 pa with a review in 3 years. The lease may be renewable or negotiable for longer term if required. The rates are £5,100 pa.
VIEWINGS
The owners are available for viewings at any time by prior arrangement.
Price: £400,000
Ref: 1966
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 o | | | | | | FOR SALE | | | | | REFERENCE: | 1966 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
