Delightful Guest House In Skegness For Sale

Business description

Business Details
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business.
- Turnover in excess of £50,000 with a net profit of £26,400 (see financial summary below).
- A business with great potential which has not been exploited due to owner’s ill health.
- 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.
- Business enjoys superb local reputation.
- The concern provides a bed and breakfast with 10 rooms.

History
We are delighted to place onto the market this Delightful Guest House which has been established since 1950. The business has been in the hands of the current owner since 2002 and now wishes to sell due retirement.

Services
This very good business opportunity provides a bed and breakfast with 10 rooms, bar and dining room.

Staffing
The concern employs no members of staff.

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

Marketing
The owner markets the business via the business website and several holiday websites.

Competition
As far as competition is concerned there is another similar business nearby as this is a tourist haven.

Market
The client base consists of 75 % returning customers and 25% new customers.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings including local and internet advertising.
• Increase room sizes to include en-suite facilities for all rooms.
• Allow families with babies.
• Possibly purchase the house next door which has ten bedrooms.
• 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.

PROPERTY DETAILS
The property consists of the following accommodation across 3 floors. 6 double rooms all en-suite, 1 family room and 3 twin rooms, 2 of which are en-suite. The premises also has a dinning room, bar, lounge, commercial kitchen and a very pretty rear garden overlooking sea.

Owner’s accommodation has 1 bedroom, lounge and a utility room.

EQUIPMENT WITH SALE
All fixtures, fittings and equipment are included in the sale price and are valued at £20,000.

FINANCIAL DETAILS
The present annual turnover is £51,000 with a gross profit of 90% and a net profit of £26,400. The present value of the stock is £1,500.
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 we 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. We 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 us 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

Location:

- Situated in North Parade Extension area of Skegness in Lincolnshire.
- Prominent location with sea views.
- Excellent free parking facilities for 10 cars.
- Surrounded by a well populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Skegness Beach and North Shore Golf Club both lie close by.

Premises details:

The property consists of the following accommodation across 3 floors. 6 double rooms all en-suite, 1 family room and 3 twin rooms, 2 of which are en-suite. The premises also has a dinning room, bar, lounge, commercial kitchen and a very pretty rear garden overlooking sea.

Owner’s accommodation has 1 bedroom, lounge and a utility room.

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 including local and internet advertising.
• Increase room sizes to include en-suite facilities for all rooms.
• Allow families with babies.
• Possibly purchase the house next door which has ten bedrooms.
• With an enhanced website.

Competition / Market:

As far as competition is concerned there is another similar business nearby as this is a tourist haven.

Reasons for selling:

Owner wishes to sell due retirement.

Trading hours:

24/7.

Employees:

The concern employs no members of staff.

Years established:

Established since 1950

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:

£20,000 (included in the asking price)

Inventory / Stock value:

£1,500