22-Year Successful Restaurant Business in South Ockendon, Essex For Sale
South Ockendon, Essex
- Status
FOR SALE
- Date Submitted:
21/07/23
- Advert ID
517010
- Leasehold: £200,000 (Stock at valuation)
- Rent: £48,000
- Turnover: £495,000 (£9,519 Per week)
- Net Profit: On request
Key Features
- New Lease
- With Car Park
- High Turnover
- Established Business
- Accounts Available
Business Details
Long established Restaurant for sale in Essex huge potential
Located in the heart of South Ockendon, Essex, a thriving restaurant business is on the market. The establishment boasts a proven track record of 22 successful years in business. I am the original owner and have overseen its operation since its inception. The business carries a leasehold price of £200,000. However, the asking price for this profitable venture is currently negotiable.
The restaurant enjoys a prime location, nestled within a bustling high street in the town centre. Its proximity to the popular Lakeside shopping centre enhances its accessibility and visibility, making it a go-to dining option for many. There's also the bonus of minimal competition within the local area. Furthermore, the sale includes all in-house fixtures and fittings, and the dining area comfortably accommodates up to 100 patrons.
Currently, the restaurant specialises in Chinese cuisine. However, there's significant potential for a change in direction, including the introduction of different worldwide food categories. As I am nearing retirement age, I believe there's an enormous opportunity for the next owner to expand upon the restaurant's current success. This could involve extending the operating hours or establishing partnerships with online delivery platforms like Uber.
The sale also includes a self-contained flat, comprised of seven rooms. A re-adjustment of the opening hours is another area of growth; the restaurant is currently open from 4 pm-10 pm, seven days a week. Previously, the business used to open from 12 pm, offering potential for added lunchtime trade.
The establishment counts 11 devoted employees among its team. On the digital front, the business has a strong presence on Facebook and Google, making it a known entity in the local area. These platforms, along with potential partnerships with delivery services could further enhance the business' reach.
To ensure a smooth transition, we're open to offering training opportunities to the new owners. Also, upon request, the accounts and details for a new lease can be made available. For comprehensive details regarding this business sale, please feel free to contact me.
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Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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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.
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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.
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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.
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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.
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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.'.
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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.
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