Award Winning Suffolk Fine Dining Restaurant With Freehold For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Awards, Michelin Bib Gourmand., AA 2 Rosettes, Good Food Guide and Hardens restaurant guide.
- Good loyal clientele.
- Substantial Outside catering facilities.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £400000 with a net profit of £61000. (See financial summary below).
- A business with great further potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a couple or partnership.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides Modern British Farye/Fine dinning.

History
Phoenix Business Transfer Agents are delighted to place onto the market Award winning restaurant which has been established since 1991. The business has been in the hands of the current owner since 1991 to date. He now wishes to sell due to retiring from the catering industry.

Services
This very good business opportunity provides a Bistro style restaurant offering Modern British Farye in a fine dining atmosphere.

Staffing
The concern employs 12 part time and 3 full time staff.


Owners Role
The owner is involved in the day to day running of the business.

Marketing
The owner markets the business in the East Anglian Daily Times and has a website.

Competition

There is no local competition.

Market
The client base consists of Locals passing trade and holiday/day trippers

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Opening Longer Hours to include Monday’s.
• Offering Sunday Lunches all day.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.

Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.


The present annual turnover is £400000 with a gross profit of 50% and a net profit of £61000. The wages are £70000. The present value of the stock is £2500.
The potential turnover of the business within the next 2 years is forecast to reach £520000 pa given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.


Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller.

Property information

Property:

Freehold

Living accommodation:

On the first floor there is a 3 bedroom flat consisting of a bathroom, shower room, kitchen, dinning room and lounge.

Location:

- Bistro style restaurant situated in the picturesque village of Long Melford, Suffolk
- Prominent location in this picturesque village.
- Excellent parking facilities to front.
- Surrounded by densely well populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Well linked with Sudbury, Bury St Edmonds and Colchester.
- Melford Hall lies close by.
- Area enjoying much growth and re generation.
- A lifestyle area.
- Excellent local demographics for this type of area.

Premises details:

The property is a Substantial l detached House with the main seating area to the front with a full fitted commercial kitchen to the rear. The main customer area is tiled with a seating capacity of 65 although this could be increased to 77.
The restaurant is extremely well presented with customer toilets to the rear and is very conveniently laid out.

Business Operation

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Opening Longer Hours to include Monday’s.
• Offering Sunday Lunches all day.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.

Competition / Market:

There is no local competition.

Reasons for selling:

He now wishes to sell due to retiring from the catering industry.

Trading hours:

Tuesday-Saturday 12-2.00 and 7-9.30 (last orders)
Sunday Closed All Day

Employees:

The concern employs 12 part time and 3 full time staff.

Years established:

20yrs

Other information

Furniture / Fixtures value:

£130,000 (included in the asking price)

Inventory / Stock value:

£2,500 (included in the asking price)