Hugely Profitable Public House Walsall | | Walsall West Midlands | | Phoenix Business Agents are delighted to place onto the market this thriving pub and late night spot in Walsall for sale which has been established over 100 years. The business has been in the hands of the current owner since 2001. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 63732
ADVERT IMPRESSIONS : 13,403 TIME(S) | | | | BUSINESS SECTOR: | Hotels / Pubs / Accom | | TRADE TYPE: | Pubs | | SALE: | Agent Sale | ASKING PRICE: | £210000 | LEASEHOLD: | £210000 | ANNUAL RENT: | £30000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | - Situated in Town Centre area of Walsall in West Midlands.
- Prominent location on main arterial road on a corner plot.
- On the outskirts of the town centre with lots of other businesses.
- Part of the popular pubs to visit in the area.
- Industrial estates nearby.
- Surrounded by densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Area enjoying much growth and re generation.
- Excellent local demographics for this type of area.
Business Details
The particular highlights of the business are:
- A long established business.
- Good loyal clientele with lots of passing trade.
- A very popular destination in the area.
- An Irish themed pub with a superb atmosphere.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £468,000 pa with a net profit of £100,000. (See financial summary below).
- A business with great potential which has not been exploited because the owner has other businesses.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a couple looking to make large profits.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides a themed Irish drinking experience with gigs and a late disco every weekend.
History
Phoenix Business Transfer Agents are delighted to place onto the market this thriving pub and late night spot in Walsall for sale which has been established over 100 years. The business has been in the hands of the current owner since 2001 and they now wish to sell due to other business interests.
Services
This very good business opportunity provides a themed Irish bar with other events weekly such as quizzes, live bands and a disco.
Staffing
The concern employs 8 part-time and one full time staff. The wages are £40,000 pa.
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 for this type of bar.
Market
The client base consists of locals, regulars and passing trade as well as gig and disco regulars.
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 later closing during the week.
• Increasing the product line to include food which is not available at the moment.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a 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 detached and is on a corner plot. It has a very traditional Irish look and there is a large bar and toilets. There is a beer garden to the rear and a very large and impressive cellar.
On the first floor there is a large kitchen, lounge and 3 bed rooms.
Equipment with Sale
All fixtures and fittings and equipment are included in the sale price and are valued at £30,000.
Financial Details
The present annual turnover is £468,000 with a gross profit of 50% and a net profit of £100,000. The wages are £40,000. The present value of the stock is £9,000.
The potential turnover of the business within the next 2 years is forecast to reach £500,000 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 Wednesday: 12.00pm to 11.00pm
Thursday: 12.00pm to 1.00am
Friday and Saturday: 12.00pm to 2.00am
Sunday: 12.00pm to 12.00am
Tenure
The original length of the lease was 10 years with 4 years remaining. The rent is £30,000 pa with a review in 4 years. The lease may be renewable or negotiable for longer term if required. The rates are £12,000 pa.
It is an enterprise lease with a full tie because of exceptional deals.
Viewings
The owners are available for viewings at any time by prior arrangement.
Price: £210,000 plus sav
Ref: 2167
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: | 2167 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
