Leasehold Convenience Store In Weymouth | | Weymouth Dorset | | Phoenix Business Agents are delighted to place onto the market this leasehold convenience store which has been established since 1960. The business has been in the hands of the current owner since 2003 and he now wishes to sell due to relocation. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 65883
ADVERT IMPRESSIONS : 9,357 TIME(S) | | | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Convenience Stores | | SALE: | Agent Sale | ASKING PRICE: | £140000 | LEASEHOLD: | £140000 | ANNUAL RENT: | £25000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | - Situated in the Wyke Regis area of Weymouth in Dorset.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent free 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.
- Well linked with the A354 and A353.
- Dorchester, Poole and Lyme Regis all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.
Business Details
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favourable lease terms (see below).
- Turnover in excess of £400,000 pa with a net profit of £52,000 (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 a family or husband wife team
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation
- The concern provides a range of convenience food items, household goods, alcohol, newspapers and cigarettes.
History
Phoenix Business Transfer Agents are delighted to place onto the market this leasehold convenience store which has been established since 1960. The business has been in the hands of the current owner since 2003 and he now wishes to sell due to relocation to London.
Services
This very good business opportunity provides a range of convenience food items, household goods, alcohol, newspapers and cigarettes.
Staffing
The concern employs 2 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 are only low levels of local competition.
Market
The client base consists of local residents with very high volumes of passing trade.
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 services to include the lottery and PayPoint.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
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
This is a two storey premises with self-contained 3 bedroom accommodation above. Comprising: Ground Floor • Main sales and display area, recently refurbished with a tiled floor, chilled beer display unit, chilled wine display unit, soft drinks chillers, shelving to walls and centre gondolas for household goods and groceries, newspaper racking, hardware display section, retail counter with 2 x electronic cash registers, card terminals, spirits display and cigarette gantry, CCTV system and air-conditioning. First Floor Self-contained living accommodation, briefly comprising: • Lounge • Kitchen with a range of fitted wall and base units • Family bathroom with shower over bath • 2 x double bedrooms • Single bedroom. External • Roof terrace serving living accommodation with external staircase to rear garden • Large external store room to rear • Parking forecourt to front.
Equipment with Sale
All fixtures, fittings and equipment are included in the sale price and are valued at £50,000.
Financial Details
The present annual turnover is £416,000 with a gross profit of 25% and a net profit of £52,000. The present value of the stock is £40,000.
The potential turnover of the business within the next 2 years is forecast to reach £450,000 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 6.00am – 10.00pm
Tenure
The new lease will be for 12 or 15 years with 12 or 15years remaining. The rent is £25,000 pa with 3 yearly reviews. The lease may be renewable or negotiable for longer term if required. The rates are £8,000 pa.
Viewings
The owners are available for viewings at any time by prior arrangement.
Price: £140,000
Ref: 2247
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: | 2247 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
