Go Waffle Franchise Opportunity in Durham City - Low Investment, High Growth Potential!
Durham, County Durham
- Status
FOR SALE
- Date Submitted:
05/04/24
- Advert ID
609280
- Leasehold: £25,000
- Rent: £18,000
- Turnover: £150,000 (£2,885 Per week)
- Net Profit: £105,000 (70% Profit margin)
Key Features
- Small Business
- Established Business
- Town Centre location
- Prime Location
- Fully Fitted
- Potential for Alternative Use
Business Details
NEW: Low Investment, Already Trading Durham City Franchise Opportunity (Bubble Waffles Ice Cream)
This is a fantastic opportunity to purchase this franchise opportunity in Durham City. Go Waffle is a thriving small business with a distinctive brand selling Hong Kong Bubble waffles laden with delicious real dairy ice cream. Go Waffle mission statements to bring a smile to every customer’s face. We expect the interest in this business to be high.
Location
Go Waffle is located in a prime retail area on the way to the cathedral in the centre of Durham City. It is frequented by students, tourists and locals with a high footfall throughout the year.
Branding
Go Waffle has a unique, fun, lively and ‘cute’ branding which stands out from all the other shops in Durham. The bright green fascia, pink benches and colourful window graphics grab the eye and you can often see people stopping to take a photo outside the shop.
Product
Go Waffle sells bubble waffles, ice cream and bubble tea. The bubble waffles are laden with ice cream and decorations and never fail to bring a smile to the customer. Regarding an ice cream treat, there is no other shop comparable to Go Waffle within Durham City centre.
Shop
The shop is 5m x 4m. Approximately half of that space is used for food preparation and serving, leaving 6 seats for customers. Most trade in the summer is takeaway. There is a small room with a toilet for staff use.
Potential
The owners have run the shop six days a week in the winter and 7 days a week in the summer when they are busier. The shop has been run for around 6 hours a day - from 12 to around 6pm. This leaves huge scope for increasing the business by expanding hours, not to mention delivery, an avenue the owners have not yet explored.
Sales & Profit
Sales currently rest at around £150k per annum with the shop being open around 46 weeks. Gross Profit is in the region of 70-75%
Lease
Lease is available:
- by assignment with three years remaining and the potential to renew in 2027 on same/similar terms, or
- a potential new lease now
There has been a recent review and the rent stands at £18k per year.
Rates
Full rate relief is currently applicable to the property
Franchise
The business is being sold as a franchise and will be run under franchise conditions.
- The initial franchise fee has been waived for the business.
- The franchise management fee is £100/week ongoing
- A small marketing fee is payable but has been waived for the first 2 years
Asking price
The sellers are looking for £25k. This includes all equipment listed below and goodwill gained.
Equipment
- 7 pan ice cream freezer
- display fridge
- waffle machines
- microwave
- urn
- bubble tea shaker
- bubble tea insulated tea urns
- syrup dispenser
- sauce warmer
- soft drink display fridge
- EPOS now till
- fitted kitchen
Benefits of the franchise
- Professional branding with a trademarked logo
- Fully functioning website (www.gowaffle.co)
- Extensive goodwill and customer base
- Marketing by the franchise company
Reason For the Sale
The owners are opening franchise stores in Birmingham and Leicester and are moving out of the shop to concentrate on the overarching franchise company.
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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.
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