Busy Café In Prime Margate Location For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favourable lease terms (see below).
- Turnover in excess of £83,000 pa with a gross profit of £58,240 (see financial summary below).
- A business with great potential.
- An easily run operation.
- A good first time buyers business and ideal purchase for a couple or partnership.
- Low rent and rates.
- Very low overheads.
- Business enjoys superb local reputation
- The concern provides a traditional English breakfast menu and Sunday lunch.

History
Phoenix Business Transfer Agents are delighted to place onto the market this busy cafe which has been established since 1980. The business has been in the hands of the current owner since 2003 and now wishes to sell due to ill health.

Services
This very good business opportunity provides a traditional cafe menu.

Staffing
The concern employs no staff and is family run.

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

Marketing
No marketing or promoting of the business has recently been undertaken as the business is well known.

Competition
As far as competition is concerned there is another similar business close by.

Market
The client base consists of locals/passing/tourists.

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.
• Increasing the opening hours to include later pm.
• Increasing the product line to include more takeaway options.
• With the introduction of a website and e-commerce.
• With an enhanced website.
• Increase Menu to include more take away menu

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 £83,200 with a gross profit of £58,240 and a net profit undisclosed. The present value of the stock is £1000.
The potential turnover of the business within the next 2 years is forecast to reach £100,000 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:

Leasehold

Lease terms:

The original length of the lease was 10 years with 2 years remaining. The rent is £6000 pa. The lease may be renewable or negotiable for longer term if required. The rates are £500.

Leasehold rent:

£6000pa per annum

Location:

- Situated in the busy area of Cliftonville in Margate.
- Prominent location on main arterial road.
- Part of a parade of shop and part of the local shopping centre.
- Excellent free parking facilities nearby.
- Industrial estates nearby.
- Surrounded by densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with London by rail.
- Margate, Broadstairs and sea front all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.

Premises details:

- Situated in the busy area of Cliftonville in Margate.
- Prominent location on main arterial road.
- Part of a parade of shop and part of the local shopping centre.
- Excellent free parking facilities nearby.
- Industrial estates nearby.
- Surrounded by densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with London by rail.
- Margate, Broadstairs and sea front all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.

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.
• Increasing the opening hours to include later pm.
• Increasing the product line to include more takeaway options.
• With the introduction of a website and e-commerce.
• With an enhanced website.
• Increase Menu to include more take away menu

Competition / Market:

As far as competition is concerned there is another similar business close by.

Reasons for selling:

now wishes to sell due to ill health.

Trading hours:

Monday to Sunday: 7.00am - 7.00pm

Employees:

The concern employs no staff and is family run.

Years established:

31 years

Other information

Support & training:

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.

Furniture / Fixtures value:

£18,000 (included in the asking price)

Inventory / Stock value:

£1,000