Thriving Convenience Store In Great Location | | Colchester Essex | | Phoenix Business Agents are delighted to place onto the market this very busy shop which has been established since 1960. The business has been in the hands of the current owner since 2005 and now wishes to sell. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 62914
ADVERT IMPRESSIONS : 7,400 TIME(S) | | | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Convenience Stores | | SALE: | Agent Sale | ASKING PRICE: | £96000 | LEASEHOLD: | £96000 | ANNUAL RENT: | £4800 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | - Situated in the centre of a large residential area of Colchester.
- Prominent location.
- Part of the local area with no other shops close by.
- Excellent parking facilities.
- Surrounded by densely well populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of pedestrian flow.
- Well linked with the city center by bus and road.
- A12 to central London and Colchester city center 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 well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £300,000 with a gross profit of £75,000. (See financial summary below).
- A business with great potential to increase turnover.
- An easily run operation.
- A good first time buyers business and ideal purchase for couple or partnership.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides off license and general convenience store goods.
History
Phoenix Business Transfer Agents are delighted to place onto the market this very busy shop which has been established since 1960. The business has been in the hands of the current owner since 2005 and now wishes to sell to focus on other businesses.
Services
This very good business opportunity provides off license and general store items.
Staffing
The concern employs no 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
As far as competition is concerned there is another similar business some 1/4 miles away.
There is no local competition.
Market
The client base consists of locals.
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 morning.
• Increasing the product line to include frozen food and news papers.
• 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. The front is branded with an attractive glass front. There are electric shutters and a CCTV system. The main customer service area has a wooden floor with a middle aisle and 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 are a toilet and staff facilities and a kitchen area. There is rear access.
EXTERNAL
To the rear a small yard area.
EQUIPMENT WITH SALE
All fixtures and fittings and equipment are included in the sale price and are valued at £6000.
FINANCIAL DETAILS
The present annual turnover is £300,000 with a gross profit of 25% and a net profit of 23%. The present value of the stock is £10,000.
The potential turnover of the business within the next 2 years is forecast to reach £350,000 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 Sunday 11am to 9pm
TENURE
The original length of the lease was 10 years with 5 years remaining. The rent is £4800 pa. The lease may be renewable or negotiable for longer term if required. The rates are £400.
VIEWINGS
The owners are available for viewings at any time by prior arrangement.
Price: £96,000
Ref: 2141
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: | 2141 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
