Long Established Indian Restaurant In Ross On Wye Herefordshire | | Ross on Wye Herefordshire | | Phoenix Business Transfer Agents are delighted to place onto the market this Long Established Leasehold Indian Restaurant which has been established since 1985. The business has been in the hands of the current owner since 1985 and he now wishes to sell | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 70961
ADVERT IMPRESSIONS : 5,323 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Restaurants | | SALE: | Agent Sale | ASKING PRICE: | £70,000 | LEASEHOLD: | £70,000 | ANNUAL RENT: | £19500 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Location
- Situated in the Town Centre area of Ross-on-Wye in Herefordshire.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent free parking facilities nearby.
- Industrial estates nearby.
- Surrounded by a 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 A40, A49 and M50.
- Hereford, Ledbury, Gloucester and Monmouth all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle 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 £190,000 pa (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
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation
- The concern provides Indian Cuisine in a 38 cover restaurant, takeaway and free delivery service up to a radius of 3 miles.
History
Phoenix Business Transfer Agents are delighted to place onto the market this Long Established Leasehold Indian Restaurant which has been established since 1985. The business has been in the hands of the current owner since 1985 and he now wishes to sell due to other business interests.
Services
This very good business opportunity provides Indian Cuisine in a 38 cover restaurant, takeaway and free delivery service up to a radius of 3 miles.
Staffing
The concern employs 5 full-time and 2 part-time staff.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
The owner markets the business by distributing menus locally and advertises in local newspapers but doesnt have a website.
Competition
As far as competition is concerned there are 2 other similar businesses within in the town centre but are considered to be at the lower end of the market.
Market
The client base consists of local residents from within a 10 mile radius.
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.
Increase the open hours to include lunch time trading.
Becoming more efficient with staffing levels.
The business would benefit from a refurbishment.
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, part of a parade of shops and is approximately 900 sq ft. The front is branded with an attractive glass front. The main customer service area is wooden. It is very well presented and is very conveniently laid out.
The restaurant has 38 covers. The customer service point is to the rear. There are customer toilets.
Ground Floor
On the ground floor there is the fully equipped professional kitchen and store room.
First Floor
The restaurant is situated on the first floor.
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. The present value of the stock is £4,000.
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
Sunday to Thursday: 6.00pm - 11.00pm.
Friday to Saturday: 6.00pm to Midnight
Tenure
The current owners own the freehold and are offering a new lease for 15 years with 15 years remaining. The rent is £19,500 pa with a review in 3 years from the start of the new lease. The lease may be renewable or negotiable for longer term if required. The rates are £1,500.
VIEWINGS
The owners are available for viewings at any time by prior arrangement.
Price: £70,000
Ref: 2438 | | | | | | FOR SALE | | | | | REFERENCE: | 2438 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
