Fifty Eight Cocktail Bar & Restaurant for Sale in Market Harborough, Expansion Potential
Market Harborough, Leicestershire
- Status
FOR SALE
- Date Submitted:
08/02/24
- Advert ID
606501
- Reference
GO2543 / Rightbiz
- Call Agent:
- Leasehold: £285,000 (Stock at valuation)
- Turnover: £153,000 (£2,942 Per week)
- Net Profit: £59,000 (39% Profit margin)
Key Features
- Unique Business
- Fully Fitted
- Established Business
- Prime Location
- Accounts Available
- Attractive Business
- High Turnover
- Small Business
Business Details
Cocktail Bar & Restaurant and the areas premier events venue
Fifty Eight Cocktail Bar & Restaurant
Turnover circa: £153k
Net Profit circa: £59k
BUSINESS SUMMARY
Business Name: Fifty Eight
Location: 58 St Marys Road, Market Harborough, LE16 7DU
Established: 2019
Type of Business: Cocktail Bar & Restaurant
Business Description
Fifty Eight is a family-run cocktail bar and restaurant located in the heart of Market Harborough. Known for its high-quality food and drink with sharing in mind, offering a contemporary world food tapas style food selection. The establishment is a firm favourite among both locals and visitors to the area with the benefit of being in a fully refurbished leasehold premises with a riverside terrace, which is now the areas premier private events venue.
Product/Service Offerings
Lounge: Serving a daily selection of cakes, pastries, teas and coffees using a unique blend of beans.
Bar: Passionately crafted cocktails, a range of soft drinks, ciders, bottled beers, wines and more.
Restaurant: A unique offering of smaller plates and sharing plates in a tapas style of world foods regularly updated and offering a refreshing alternative to a traditional pub/restaurant meal. The selection on offer has a sophisticated feel yet offers remarkable value to enjoy over drinks with friends/family.
Private Hire: The venue is one of Harborough’s premier private party venues and is available to hire out in part or in full to include the restaurant and terrace to their loyal customer base for celebrations/parties and made available to local businesses.
Market Analysis
Market Harborough is a charming market town in Leicestershire, England, that boasts a variety of dining options, including select café bars and restaurants such as Fifty Eight that cater to different tastes and preferences.
Other establishments range from casual cafes offering light bites and coffee to more sophisticated bar restaurants serving cocktails and gourmet meals, such as Fifty Eight. Many of these places emphasize locally sourced ingredients and offer a range of British and international cuisines.
Expansion Opportunities
Delivery: Implementing a delivery service to cater to the increasing demand for at-home dining through directly employed staff or food application partners.
Outside Catering: Catering services for events, parties, and corporate lunches.
New Menu Items: Introducing more vegan and gluten-free options to cater to a wider audience.
Website Development: The business attracts custom through local reputation and passing trade, however there is an opportunity to develop and implement a dedicated website with table booking and ordering capabilities for click and collect and/or deliveries.
Additional Locations: Incoming operators could utilise this established, sophisticated brands success to springboard into additional locations.
PREMESIS
The premises is a ground floor unit on an extremely busy parade of units, just off the main high street in Market Harborough. The premises is available by way of a lease assignment with a low rent fixed for 4 years.
The vendor has made significant improvements to the property since inception and introduced new catering equipment and furnishings which offer a warm and welcoming environment for customers and requires no further investment from an incoming operator who can capitalise on the extensive, high-end fit out to date.
Viewing is essential to appreciate the quality of the business on offer
FURTHER INFORMTAION
Further information is available by speaking with the us and viewings are strictly by appointment only.
For more information please contact us.
Contact Agent
Listing Statistics
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Stay Safe
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.
Be safe, use a Rightbiz Solicitor
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