Thriving Leasehold Oatcake Shop in Kidsgrove, Stoke-on-Trent for Sale
Kidsgrove, Staffordshire
- Status
FOR SALE
- Date Submitted:
17/02/22
- Advert ID
290790
- Leasehold: £135,000 (Stock at valuation)
- Rent: £6,000
- Turnover: £150,000 (£2,885 Per week)
- Net Profit: £50,000 (34% Profit margin)
Key Features
- High Turnover
- Established Business
- Fully Fitted
- Price Reduced
- Attractive Business
- Retirement Sale
- New Lease
- Close to Local Amenities
- Town Centre location
Business Details
Leasehold Oatcake Shop in Kidsgrove, Stoke on Trent
Oatcake shop for sale - leasehold
Due to the intended retirement plans of the current owner, here is an opportunity to acquire a thriving business that has been part of the local community for over 40 years. It is a combined wholesale and retail business. The wholesale side of the business has solid order books generating profitable orders weekly. During the lockdown, considerable investment was made to cope with a huge surge in wholesale customers.
The retail side offers goods seven days a week to customers during breakfast and lunchtime. The current owner is prepared to offer training as part of the sale along with ongoing support for some time after completion (as required). Included in the sale are various fixed assets which are valued at £45,000.
Also included in the sale is the all important Oatcake recepie which was purchased for £30,000 when the business last changed hands.
For some time during the pandemic, the retail side of the business had to close in line with government guidelines. During that time, the owner developed an on line delivery service with a regular custom base (over 160 regular customers)
The wholesale side of the business continued to trade and thrive. At the beginning of the last trading year (Feb 2021 - Jan 2022) the shop had re-opened four days a week and footfall was low but has continued to grow.
By the end of the year, the shop was open seven days a week and footfall had returned to about 80% of its pre-pandemic. Despite this, the business returned a healthy £50,000 profit. Once the pandemic is finally behind us, it's expected that in its current form, the business profits will grow to £70,000 per annum.
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Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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