Convenience Store In West Bromwich Freehold Or Leasehold 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 £400,000 pa with a net profit of £41,600 (see financial summary below).
- A business with great potential.
- An easily run operation.
- A good first time buyers business and ideal purchase for a family or husband and wife team
- Low rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides a comprehensive range of convenience products, off license, newsagents, greetings cards, pet foods, frozen foods, lottery, pay point and pay zone and also has an ATM.

History
Phoenix Business Transfer Agents are delighted to place onto the market this excellent Convenience Store which has been established since the early 1900’s. The business has been in the hands of the current owner since 2008 and he now wishes to sell due to other business interests.

Services
This very good business opportunity provides a comprehensive range of convenience products, off license, newsagents, greetings cards, pet foods, frozen foods, lottery, pay point and pay zone and also has an ATM.

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
There is no local competition.

Market
The client base consists of local residents with high volumes of passing trade.

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 until 10pm.
• Develop the newsagent aspect of the business including newspaper deliveries.
• Becoming more efficient with staffing levels.
• With the introduction of a website and e-commerce.

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 store turnover is £442,000 with a net profit of £41,600 (we are advised that the revenue from the flat and garage is additional to the turnover of the store). The present value of the stock is £25,000.
The potential turnover of the business within the next 2 years is forecast to reach £500,000 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:

Freehold

Living accommodation:

On the first floor there is a 2 bedroom flat currently rented and generating £5,200pa.

Location:

- Situated in the Farley Park area of West Bromwich.
- Prominent location on main arterial road.
- Excellent free customer car park at the side of the building.
- Industrial estates nearby.
- Surrounded by a 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 the A461, A41 and A457.
- Birmingham, Wolverhampton and Dudley all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.

Premises details:

The property is terraced, part of a parade of shops and is approximately 1,000 sq ft. The front is branded with an attractive glass front. There are electric shutters and a CCTV system. The main customer service area is tiled with a middle aisles and shelving to the walls. It is very well presented and is very conveniently laid out.

To the rear is a store room. There is a toilet and staff facilities.

External
To the left there is a customer car park.
To the rear is there is a double garage currently rented and generating £3,120pa.

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 until 10pm.
• Develop the newsagent aspect of the business including newspaper deliveries.
• Becoming more efficient with staffing levels.
• With the introduction of a website and e-commerce.

Competition / Market:

There is no local competition.

Reasons for selling:

he now wishes to sell due to other business interests.

Trading hours:

Monday to Saturday 6.00am – 9.00pm
Sunday 7.00am – 8.00pm

Employees:

The concern employs no staff and is family run.

Years established:

111 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:

£35,000 (included in the asking price)

Inventory / Stock value:

£25,000