Chinese Restaurant Plymouth | | Plymouth Devon | | Phoenix Business Transfer Agents are delighted to place onto the market this thriving leasehold restaurant which has been established since2007. The business has been in the hands of the current owner since 2007 and he now wishes to sell due to other bu | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 69437
ADVERT IMPRESSIONS : 8,831 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Restaurants | | SALE: | Agent Sale | ASKING PRICE: | £95000 | LEASEHOLD: | £95000 | ANNUAL RENT: | £19200 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Location
- Situated in the highly sought after area of Hoe in Plymouth.
- Prominent location in residential area very close to the city centre.
- Excellent parking facilities nearby.
- Surrounded by densely populated residential area with schools and other local amenities.
- Local population consists of mixed age groups.
- 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 roads and good railway links.
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 £195,000 pa with a net profit of £40,000. (See financial summary below). This is very impressive considering the credit crunch.
- A business with great potential which has not been exploited and is currently sub let. .
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.
History
Phoenix Business Transfer Agents are delighted to place onto the market this thriving leasehold restaurant which has been established since2007. The business has been in the hands of the current owner since 2007 and he now wishes to sell due to other business interests.
Services
This very good business opportunity provides both a restaurant and takeaway service
Staffing
The concern employs 4 staff. 2 are full time and 2 are part time.
Owners Role
The business is currently sub let by a former employee of the company who runs the restaurant on a hands on basis.
Marketing
There is no marketing currently being undertaken.
Competition
This is a densely populated area very close to the center of Plymouth where there are many other restaurants.
Market
The client base consists of a large local community as well as many Chinese students from the local University
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.
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 terraced and is part of a parade of shops and is approximately 100ft x 80 ft. The front is branded with an attractive glass front. The restaurant is very attractive and is very conveniently laid out.
The restaurant has 60 covers. There are customer toilets.
To the rear is a store room. There are also toilets, staff facilities and a fully equipped kitchen.
Equipment with Sale
All fixtures and fittings and equipment are included in the sale price and are valued at £30,000.
First Floor
On the first floor there 6 double rooms and 2 shower rooms. All are in need of decoration as they are currently used as staff accommodation.
External
The restaurant is located at the bottom of a short flight of stairs from street level.
Financial Details
The present turnover is £200,000 per annum with a gross profit of £110,000 and net profit of £40,000. The value of the stock is £5,000.
The potential turnover of the business within the next 2 years is forecast to reach £300,000 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
Monday Saturday: 12.00pm to 10.00pm
Tenure
A new 15 year lease will be issued on sale with a rent of £19,200 pa. The rates are £5,000pa.
Viewings
The owners are available for viewings at any time by prior arrangement.
Price: £95,000
Ref: 2393
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: | 2393 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
