Thriving Coffee Bar Restaurant In Gosport With A 2 Bedroom Flat Price Reduced | | Portsmouth Hampshire | | Phoenix Business Agents are delighted to place onto the market this thriving Restaurant which has been established since 1995. The business has been in the hands of the current owner since 2007 and now wishes to sell as he wishes to emigrate. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 61573
ADVERT IMPRESSIONS : 12,943 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Cafes | | SALE: | Agent Sale | ASKING PRICE: | £90,000 | LEASEHOLD: | £90,000 | ANNUAL RENT: | £19,500 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | - Situated in the High street area of Gosport.
- Prominent location on main arterial road.
- Part of a parade of shops part of the main shopping centre
- Excellent parking facilities.
- 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.
- Commercially thriving area.
- Portsmouth University lies 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 well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £90,000with a gross profit of £61,000. (See financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for couple.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides home cooked food.
History
Phoenix Business Transfer Agents are delighted to place onto the market this thriving Restaurant which has been established since 1995. The business has been in the hands of the current owner since 2007 and now wishes to sell as he wishes to emigrate.
Services
This very good business opportunity provides good home cooked food and sandwiches.
Staffing
The concern employs 4 part time staff.
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 other restaurants and sandwich bars nearby as it is a very busy area competition.
Market
The client base consists of locals/students/ tourist.
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include Evening meals and Sunday lunches.
• Increasing the product line to include take away and an Alcohol License.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• With an enhanced 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. The front is branded with an attractive glass front. The main customer service area is wooden flooring. It is very well presented and is very conveniently laid out.
The café/ restaurant have 28 covers inside and 8 outside. The customer service point is to the rear. There is an overhead menu. There are customer toilets.
To the rear are a store room and a fully equipped kitchen.
FIRST FLOOR
On the first floor there is a 2 bedroom flat with living room, kitchen, bathroom and toilet. It has been refurbished within the last 2 years. There is a rental income of £7200 and it has a separate entrance.
EXTERNAL
To the rear are a yard and a store room and parking area.
EQUIPMENT WITH SALE
All fixtures and fittings and equipment are included in the sale price and are valued at £35,000.
FINANCIAL DETAILS
The present annual turnover is £90,000 with a gross profit of 68%. The wages are £500 per week. The present value of the stock is £1000.
The potential turnover of the business within the next 2 years is forecast to reach £250,000 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 8 to 3
Sunday closed
TENURE
The original length of the lease was 15 years with 11 years remaining. The rent is £19,500pa with a review in 4 years. The rates are £6000.
There is a rental income of £7200 PA from the flat which is on a short 6 month agreement.
VIEWINGS
The owners are available for viewings at any time by prior arrangement.
Price: £90000
Ref: 2073
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: | 2073 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
