Profitable Leasehold Indian Restaurant Buckfastleigh | | Buckfastleigh Devon | | Phoenix Business Agents are delighted to place onto the market this profitable Leasehold Indian Restaurant in Buckfastleigh which has been established since 2008. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 69266
ADVERT IMPRESSIONS : 7,765 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Indian Restaurants | | SALE: | Agent Sale | ASKING PRICE: | £250000 | LEASEHOLD: | £250000 | ANNUAL RENT: | £25000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | - Situated on the edge of Buckfastleigh next to the main A38 between Exeter and Plymouth.
- Prominent location on main arterial road.
- Excellent parking.
- Industrial estates nearby.
- Surrounded by densely populated residential area with schools and other local amenities
- Area offers exceptional lifestyle.
- Very good tourist trade.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the main A38
Business Details
The particular highlights of the business are:
- Ideally located concern offering excellent lifestyle.
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £200,000 pa with a net profit of £25,000. (See financial summary below).
- A business with great potential which has not been exploited because the current owner is unable to devote sufficient time to the business.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.
- The concern provides an Indian menu.
History
Phoenix Business Transfer Agents are delighted to place onto the market this profitable Leasehold Indian Restaurant in Buckfastleigh which has been established since 2008. The business has been in the hands of the current owner since its inception as an Indian restaurant. It had previously been trading as a Chinese Restaurant. The owner now wishes to move back to London to be with his family.
Services
This very good business opportunity provides an excellent Indian menu.
Staffing
The concern employs 6 full-time and 4 are part-time and the wages are £125,000 pa. This could be reduced dramatically if the business became family run.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
The owner currently does not actively market the restaurant but does feel that it would benefit from some local advertising. At present he relies on his reputation and word of mouth.
Competition
There is no competition in the immediate area.
Market
The client base consists of very loyal and regular customers.
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 afternoons.
• 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
The property is detached with excellent parking adjacent to the main A38 on the edge of the town of Buckfastleigh. The large floor area, accommodating 90 covers is approximately 50 sq meters. The front is branded with an attractive glass front.
To the rear is a store room. There are customer toilets and staff facilities with a fully equipped kitchen.
External
To the front there is a very large car park.
Equipment with Sale
All fixtures and fittings and equipment are included in the sale price and are valued at £25,000.
Financial Details
The present turnover is £200,000 pa with a gross profit of £130,000 and a net profit of £25,000. The wages are £125,000. The present value of the stock is £10,000.
The potential turnover of the business within the next 2 years is forecast to reach £275,000 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
7 days a week: 12.00pm to 2.00pm and 5.00pm to midnight.
Tenure
The original length of the lease was 18 years with 15 years remaining. The rent is £25,000 pa with a review in 3 years. The lease may be renewable or negotiable for longer term if required. The rates are £17,000pa.
Viewings
The owners are available for viewings at any time by prior arrangement.
Price: £250,000
Ref: 2375
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: | 2375 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
