Established Coffee Shop with Strong Gluten-Free Following for Sale in Norwich
Norwich, Norfolk
- Status
FOR SALE
- Date Submitted:
06/05/24
- Advert ID
610879
- Leasehold: £72,500 (Stock at valuation)
- Rent: £13,000
- Turnover: £168,000 (£3,231 Per week)
- Net Profit: On request
Key Features
- Close to Local Amenities
- Established Business
- Potential for Alternative Use
- Attractive Business
- Owner Financed
- Accounts Available
- Fully Fitted
- Company for Sale
Business Details
Established and Popular Coffee Shop for Sale in Norwich
This well established coffee and cake shop gets great reviews from its loyal customer base and is priced to sell.
Located in the popular Norwich Lanes made up of 500 independent businesses, it is just five minutes walk from Norwich market, and on the main Golden Triangle pedestrian commuter route. It also benefits from nearby parking facilities and an outside loading bay.
There is a contemporary but cosy ambience that customers love. Specialising in homemade cakes and gluten free items there is a strong gluten free following and it offers mainstream and connoisseur coffee choices. The dog friendly approach is also well received. Breakfast, brunch, lunches, light bites and sweet treats are the menu mainstays.
There is currently 25 covers, a 5* hygiene rating and a 4.8 Google rating with over 3000 social media followers. There's 4.5 years left of a 9 year lease, and it is zero rated for business rates.
The current daughter and father co-owners have focused on building scale and have grown turnover from £65,000 to £170,000 per year in their 4.5 years here (including lockdown). The kitchen and seating facilities have been modernised in this time too.
It has many opportunities to take revenue and profit onto the next level. Such as:
- Increasing the B2B and B2C delivery business.
- Extending opening hours and linking those to theatre nights and servicing local Airbnb offerings (current hours Mon – Sat 8.30 – 4).
- Adding an alcohol license.
- Boosting takeaway sales.
- Reintroducing outside dining.
- Adding extra table spaces inside
- Uplifting prices which have not yet been maximised.
- Uplifting marketing initiatives
- Introducing a dog menu
A well managed handover would be ensured so please do get in touch so you can see and feel the potential benefits from this great opportunity.
Asking price £72,500 fixtures / fittings and stock by negotiation.
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Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
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Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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