Thriving Leasehold CafÉ Loughborough Price Reduced | | Loughborough Leicestershire | | Phoenix Business Agents are delighted to place onto the market this thriving café in Loughborough which has been established since 1979. The business has been in the hands of the current owner since 1990 and he now wishes to sell due to retirement. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 63768
ADVERT IMPRESSIONS : 8,353 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Cafes | | SALE: | Agent Sale | ASKING PRICE: | £90,000 | LEASEHOLD: | £90,000 | ANNUAL RENT: | £20,000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | - Situated in town centre area of Loughborough in East Midlands.
- Prominent location on main arterial road close to a major park.
- Part of a parade of shops.
- Excellent parking facilities.
- 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.
- 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 £200,000 with a net profit of £60,000 (see financial summary below).
- A business with great potential which has not been exploited because the owner wishes to retire.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a sole trader or a partnership.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides a licensed café business.
History
Phoenix Business Transfer Agents are delighted to place onto the market this thriving café in Loughborough which has been established since 1979. The business has been in the hands of the current owner since 1990 and he now wishes to sell due to retirement.
Services
This very good business opportunity provides breakfasts, lunches, beverages and a fully licensed bar.
Staffing
The concern employs 2 part time staff, 1 full time chef and the wages are £800 per week.
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 are similar businesses in the vicinity but this business has the best local reputation.
Market
The client base consists of a mixed clientele from locals and regulars to passing trade and tourists.
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 evenings, weekends and bank holidays.
• Increasing the product line to include an evening menu.
• 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.
Property Details
The property is terraced, part of a parade of shops and is approximately 35 ft x 65 ft. The front is branded with an attractive glass front. The main customer service area is tiled. It is very well presented and is very conveniently laid out.
The café has 66 covers. The customer service bar is to the rear. There is an overhead menu. There are customer toilets.
To the rear is a store room. There is a toilet, staff facilities and a fully equipped kitchen.
First Floor
On the first floor there is a three bed room accommodation which is presently used for the business.
Equipment with sale
All fixtures, fittings and equipment are included in the sale price and are valued at £25,000.
Financial Details
The present annual turnover is £200,000 with a gross profit of 70% and a net profit of £60,000. The wages are £800 per week. The present value of the stock is £500.
The potential turnover of the business within the next 2 years is forecast to reach £300,000 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: 9.00 am – 5.00 pm.
Tenure
There is a new 15 year full repair and insurance lease with rent reviews every 3 years. The rent is £20,000 pa. The lease may be renewable or negotiable for longer term if required. The rates are £3,400 pa.
Viewings
The owners are available for viewings at any time by prior arrangement.
Price: £105,000 (Price Reduced)
Ref: 1892
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: | 1892 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
