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Convenience Store That Specialises In Eastern European Foods

City of London, London
Leasehold Price:
£35,000
Status
FOR SALE
Advert ID
254475
Reference
B05773 / Rightbiz
Business
Please Quote Reference B05773

Hilton Smythe welcomes to the market Gal’s Family Store, which was fully refurbished at a cost of over £50,000 by our client and opened September 2019. Unfortunately, due to personal circumstances our client is now looking to sell.

Gal’s is a convenience store and off licence that currently specialises in authentic Eastern European foods, which are sourced from several local wholesalers. The area has a strong Eastern European population; however, the new owner may look to add further generic lines to increase the buyer base.

Current lines include

  • Beers, wines and spirits.
  • Tobacco products.
  • Cold drinks.
  • Cooked meats and cheeses.
  • Pastas.
  • Sauces.
  • Tinned and jarred food.
  • Household goods.
  • Toiletries etc.
Although new to the area, the business has already built up a local customer base and it has 5* Google ratings.

There is scope for development of the business by considering;

  • Opening earlier in the day.
  • Adding to the staff numbers.
  • Adding further lines.
  • Advertising on social media to promote the business.
There are many reasons to buys Gal’s including;

  • Extremely high footfall area.
  • Reasonable rent for the area.
  • Further development opportunities.
Hilton Smythe highly advise early viewing to avoid disappointment.



Location
Gal’s Family store is in an extremely high footfall area on Lea Bridge Road, Leyton, E10, very close to the junction with Hoe Street.

Surrounded by many other businesses, including large chains and banks, which bring a large footfall to this densely populated area, Gals has distinctive signage to the front, there is limited waiting free parking directly outside and car parks close by.

Lea Bridge Road is a major shopping road on the border of Leyton and Walthamstow, the area is densely populated and there is a large footfall to the area all day, every day. There are major bus routes running directly outside the premises along Lea Bridge Road.



Premises
Entrance door to the fully refurbished store. The store was fully refurbished during the summer of 2019.

The service counter is located on the right-hand side upon entry to the store and has a Good till system, card machine, confectionery stand, tobacco gantry behind, cooked meats and cheese display chiller.

The main store has;

  • 2 double drinks display fridges.
  • 2 large open chillers.
  • 2 upright display freezers.
  • 2 aisles of shelving for all products.
  • CCTV system.
  • To the rear of the store is a staff toilet, also refurbished in 2019.
  • To the rear right hand side of the store is a storage area which leads to the staff kitchen, also fully refurbished in 2019, this area can also be used for storage. There is a service access door to the rear of the kitchen.


Tenure
We are advised the business is being sold as a leasehold business opportunity.

A 5-year lease was granted in June 2019.

The annual rent is £15,000.

Rates are currently paid at circa £7,000 per annum.



Hours
The business opening hours are currently 9am – 9pm, 7 days a week.

We would recommend the new owner consider opening earlier in the morning and add lines that would attract custom for that time of the day. Opening later into the evening could also be considered.



Staff
The business is a family run business comprising of mother and son.



Financial Profile
Gal’s Family Store generates an advised turnover of circa £300 per day currently, however, this figure continues to grow. 

Keeping at this rate would give an annual turnover of circa £110,000.

Our client advises us they have a gross profit of circa 40%.

The assets being sold with the business are worth in the region of £50,000.

For further information please quote reference B05773.



Listing Details
Leasehold Price: £35,000
Tenure: Leasehold
Location: City of London, London
Sector: Convenience Stores, Off Licences
Financials
Annual Turnover: £100,000
Contact Agent
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Advert Reference: B05773 / Rightbiz
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