Thriving City Centre Newsagents Leicester Plus Sav Price Reduced | | Leicester Leicestershire | | Phoenix Business Agents are delighted to place onto the market this thriving Leicester city centre Newsagents which has been established since 1980. The business has been in the hands of the current owner since 2009 and they now wish to sell. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 69117
ADVERT IMPRESSIONS : 5,364 TIME(S) | | | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Newsagents | | SALE: | Agent Sale | ASKING PRICE: | £285,000 | LEASEHOLD: | £285,000 | ANNUAL RENT: | £17500 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | - Situated in town centre area of Leicester in Leicestershire.
- Prominent location on main High Street which is pedestrianised.
- Is in the centre of this thriving commercial area and vibrant city.
- 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 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 £600,000 pa with a net profit of £100,000 (See financial summary below).
- A business with great potential which has not been exploited because the owners have other business interests.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a partnership.
- Low rent and rates for area.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides high quality newsagents with many specialist magazines.
History
Phoenix Business Transfer Agents are delighted to place onto the market this thriving Leicester city centre Newsagents which has been established since 1980. The business has been in the hands of the current owner since 2009 and they now wish to sell due to other business interests.
Services
This very good business opportunity provides high quality newsagents with many specialist magazines.
Staffing
The concern employs 3 part time and 1 full time staff and the wages are £22,000 pa.
Owners Role
The owners manage the business on a part time basis.
Marketing
No marketing or promoting of the business has recently been undertaken as the business is well known.
Competition
There is no local competition.
Market
The client base consists of locals, shoppers, regulars, workers (retail and office) and 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 opening hours to include later closing.
• Increasing the product line to include off licence.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
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 and is approximately 15ft x 65 ft. The front is branded with an attractive glass front. There are electric shutters and a CCTV system. The main customer service area is tiled with a middle aisle and shelving and racking to the walls. It is very well presented and is very conveniently laid out. The customer service point is in the centre of the shop.
To the rear is a store room. There are a toilet and staff facilities and a fully equipped kitchen.
First Floor
On the first floor there is a very large space which is rarely used and could be converted in to living accommodation. There is also a basement.
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 £624,000 with a gross profit of 25% and a net profit of £100,000. The wages are £22,000 pa. The present value of the stock is £20,000.
The potential turnover of the business within the next 2 years is forecast to reach £750,000 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: 6.00am – 6.00pm
Sunday: 10.00am – 4.00pm
Tenure
The original length of the lease was 10 years with 6.5 years remaining. The rent is £17,500 pa. The lease may be renewable or negotiable for longer term if required. The rates are £6,600 pa.
Viewings
The owners are available for viewings at any time by prior arrangement.
Price: £325,000 plus sav
Ref: 2381
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: | 2381 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
